Cathay Pacific’s profitable operation in 2015

The increasing number of passengers and the reduction in the fuel prices contributed to the Cathay Pacific’s good performance in the first half of 2015.

Cathay Pacific’s profits increased by 300 per cent in the first six months of 2015, according to its latest released Interim report.

Cathay Pacific, the Hong Kong largest airline, had better performance in the first half of 2015 than the same period in 2014, the report showed.

Compared with the record of 494 million in 2014, the profits for the period went up to 2,130 million with 0.9 per cent decrease in the total revenue, according to the report.

The growth in the number of passengers and the reduction in the fuel cost were the two main factors contributed to the raising profits.

The report showed that the number of passengers reached to 69,689 million by the half of 2015, a 6.4 per cent increase compared with the 2014.

The passenger load factor was higher in the first half of 2015 because of the introductions of the new routes and the increase of the existing routes with strong demands for the travels to Taiwan, Japan and Southeast Asia areas.

The fuel cost declined by HK$7,078 million for half of the 2015, but it remained the most significant cost by taking up 34.2 per cent of all the operating expenses, the report showed.

Due to the plunge of the into-plane fuel price, the reduction in the fuel cost offset the 4.9% increase in the fuel consumption.

The customers paid less money in average to fly one mile as the passenger yield dropped from $66.6 cent to $60.4 cent, and the 11.1% decrease in the Cargo and mail yield also made the service cheaper than 2014, the report showed.

According to Mr. John Slosar, the Chairman of the Cathay Pacific, the company would focus on the qualities of their products and services and have more investments on the aircrafts and network developing in the next half of 2015.


Increasing number of working poor families in 2014

Working poor families, the families with at least one people employed still suffered from the poverty.

A 10.6% increase in the number of Hong Kong working poor families from 2010 to 2014, widening the wealth gap with 10% richest people own 77.5% Hong Kong’s wealth, the report showed.

About 20,000 new working families lived in poor conditions, with a growth from 171,400 in 2010 to 189,500 in 2014, while the median monthly income of the richest was 19 times higher than that of the poorest, according to the Report on Hong Kong’s Working Poor by Oxfam Hong Kong in 2015.

The poverty situation was aggravated by the failure of keeping the minimum wage with inflation as well as a  higher spend on housing.


The incomes of the working poor families with at least 1 employed people were lower than half of the median incomes of all corresponding size households, while about half of the families had members below the age of 15 or over 65.

The minimum wage rose from HK$28/hour to HK$32.5/hour with a 16.1% increase after the enactment of the Minimum Wage Ordinance in 2011, compared with the growth rate of the inflation by 20.5% during the half of the decade, according to the report.

Rental expenditure took up 37.3% of all the household expenses in working poor families, which was larger than the average level of 24.3%.

Hong Kong government launched various policy interventions in 2012, including the Comprehensive Social Security Assistance (CSSA), the Old Age Allowance and financial assistance for students, which helped 362,700 people jump out of poverty, yet 647,500 people in working families still lived under poverty line in 2014.


Report on Hong Kong’s Working Poor

The devaluation of yuan has pernicious impact on the Hong Kong tourism

If Hong Kong tourism is heading into a recession, the devaluation of the yuan(RMB) should take responsibility. The People’s Bank of China devalued yuan by 1.87% on the 11 August 2015, which represented a biggest depreciation since 2005.

The amount of tourists from Mainland China plummeted under a higher exchange rate, which weakened the local tourism industry in aspects of retail and property. A series of political movements and depreciation make Hong Kong less attractive to the Chinese visitors with a 7.1% drop compared with 2014.

The number of visitors from Mainland China decreased by 7.1% from August 2014 to August 2015.

Higher prices of the merchandises in the retail stores and real estates make the investments shrink. Mainland China is the largest visitor source market for Hong Kong, which took up about 77.67% of the total amount of the tourists in 2014, According to the Hong Kong Census and Statistic Department.

“Given no change in the prices of Hong Kong products, the depreciation of RMB makes it more costly for the yuan users, which will definitely affect the tourism especially the retail stores in Hong Kong.” said Ms. Ng Ying Chu, Professor in the department of Economics at Hong Kong Baptist University.

Hong Kong less competitive than other tourist destinations even the Mainland China because of the depreciation. Chinese government lower the custom duty of diaper and cosmetic by 5.5% and 3% respectively, and Japan was a popular destination for Chinese visitors during the golden week.

The higher exchange rate makes the sale prices in Hong Kong stores have no advantage compared with the other major tourism countries, while the they tried to provide more discounts to attract the Chinese customers.

Mr. Geoff Cutmore, a co-anchor for CNBC flagship programme, said the fiscal module in TaiWan was a good example for China, and a sound development in economics should put beside the corruption as well as the money flow would achieve the best return.

Chinese enterprises setter needed reform under a weak global demand, said Mr. Geoff Cutmore. The Chinese government should enhance competitiveness by focusing on the development of consumer economics rather than devaluing the yuan. Meanwhile, the Hong Kong government should develop more attractions to expand the overseas tourist market.

Source List:

Ms. Ng Ying Chu, Professor in the department of Economics at Hong Kong Baptist University.

Hong Kong Census and Statistic Department

The participations of young people in the coming election

(Hong Kong young people showed their great influence on the society through the street demonstrations last year, while politicians appeal to youngsters’ higher political involvement in the upcoming election.)

The head of the Democratic Party Ms. Emily Lau called on Hong Kong youngsters to raise concerns to the upcoming District Council election.

Ms. Lau said that since the majority of voters were still the elderly people, her party would try their best to attract more young people to vote in the election, and she hoped the young candidates would bring the new ideas to the Democratic Party.

The youngest candidate Mr. Cheuk Nam Sin in the Democratic Party is only 21 years old while 51 candidates out of total 170 in the Democratic Alliance for the Betterment and Progress of Hong Kong (DAB)  are below 35 years old.

“Both Pro-democratic parties and Pro-establishment parties tried to nominate the young candidates, and they may attract more registered voters but had limited influence on the young people.” said Prof. Wong, Stan Hok-Wu, Department of government and public administration in Hong Kong Chinese University.

Mr. Wong said although youngsters focused more on the politics after the Occupy Central Movement, they might not want to register as a voter since the District Council election was meaningless to them.

“There was no positive correlation of young people’s participations between the Occupy Central Movement and District Council election.” he added.

According to the Hong Kong government, the registration rate for youngsters from 18 to 30 was 59.7%, compared with the overall registration rate of 73.5% in 2014.

Ms. Yuen-ting Leung, an independent candidate in Kai Tak North constituency, said that some of  the young supporters of Occupy Central Movement might not care what happened in the district and might change their ideas toward the politics after a year.

“Personally, I preferred the mature and experienced candidates but if the young people were passionate and willing to work hard, he could gain the supports from our branch members.” said Ms. Lau.

2015 Hong Kong District Council Election would be held on 22 November, 458 councilors in 18 district councils  would serve Hong Kong people from 2016 to 2019.


According to the Hong Kong government, 24.73% people from 18 to 30 years old voted in 2012 District Council election, which was lower than the overall vote rate 33.77%.

According to the Hong Kong government, 24.73% people from 18 to 30 years old voted in 2012 District Council election, which was lower than the overall vote rate 33.77%.


Hong Kong Youngster wanted to have a say on the political issue and had demonstrations in the Occupy Central Movement last years.

Hong Kong Youngster wanted to have a say on the political issue and had demonstrations in the Occupy Central Movement last years.

Contact List:

Mr. Ting Fung Li,

Ms. Yuen-ting Leung

Mr. Wong, Stan Hok-Wu


Final Project

LI Tianning, 13252046

YouTube link:

Text story:

Cat Wong, Yuen Ting, with the age of 17, is not an ordinary teenager. She is young at her age but she has already experienced many stages, just as a mature women does. Finishing school, finding a life-partner, starting her career and pursuing for her life goal.

Cat is now a hairdresser, majoring in the field of being a technician, who mainly makes use of different chemicals and does dyeing, perming and ion straightening.

Before she embarked on this field and set it as her life goal, she was a very naughty girl in other eyes. She did bad academically, and eventually went into a band three secondary school. She made some bad friends, and learnt how to speak foul language, drink alcohol and smoke cigarettes. By the time, she was only 14.

At the age of 15, when she was only in her F.2, she committed criminal offence. She stole dozens of phones from her fellows. She was caught by the school and the matter was reported to her mum, who worked so hard for the living of the family and always went on trips for work, as she was the only economic source of the family. Cat comes from a single-parent family.

Her mum was so furious that she brought Cat to Shanghai, the place where she was working by that time. In that period of time, she was all alone by herself in the hotel room, both in the daytime and nighttime, as her mum went to work. She got ‘released’ and went back to Hong Kong when she was acknowledged that she would not be charged by the victims.

This incident changed her life. It made her realize that she should not be staying at school anymore. She should find her own interest and make it her own career. She entered vocational training school and chose the subject hairstyling. There she found her interest to be a technician. In two year time, she exercised for many times and got her skill sharpened. She is now hired by a renowned salon in Festival Walk, Kowloon Tong.

She also has a romantic love story. By the time when she was at school, she met her second boyfriend, Yau. Yau stayed all along her from her hardest time in Shanghai till now, witnessing her time of harvest of her career. She now lives with Yau in a public housing apartment for one person in the name of Yau in Ma On Shan.

She said that she might be naive and immature, but she cherishes every past moments in her life, as all those transform ‘her’ in the past to the ‘her’ today.