Hongkong Post has applied to the legislature for a HK$4.6 billion government bailout to support its operations in the next three years and to cover the refurbishment of the Air Mail Centre. According to a paper submitted by the Commerce and Economic Development Bureau to the Legislative Council (LegCo) Panel on Economic Development on Wednesday, […]

Hong Kong authorities are seeking to inject HK$4.6 billion (US$587 million) into the government-owned postal service provider to sustain its operations for the next three years, following eight years of losses and declining mail volume. A document submitted to the Legislative Council on Wednesday by the Commerce and Economic Development Bureau showed a bruising fiscal trajectory for the Post Office Trading Fund (POTF) of Hongkong Post since 2017-18. Self-financing since 1995, Hongkong Post has...