Stamp of approval sought on HK$4.6 billion lifeline for struggling Hongkong Post
Hongkong Post is seeking a HK$4.6 billion (US$587 million) injection from the Hong Kong government to continue operations for the next three years. The postal service has experienced eight consecutive years of deficits, accumulating nearly HK$2.9 billion in losses. This financial strain is attributed to declining mail volumes, increased competition from e-commerce logistics providers, and rising operational costs. AI
