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KGI: 2026 Global Market Outlook
Beyond Balance: The Next Regime
HONG KONG SAR – Media OutReach Newswire – 13 January 2026 – Today, KGI has released its 2026 Global Market Outlook, covering markets in the US, Mainland China, Hong Kong, Taiwan, and Singapore.
After a turbulent year of trade disruptions and policy uncertainty under President Trump, investors face new questions. China has unveiled its 15th Five-Year Plan, as policymakers aim to support domestic growth amid global challenges. The market outlook for 2026 is shaped by interest rate decisions, economic resilience, and shifting international dynamics.
Under this backdrop, we propose the “LEAD” strategy for 2026:
- Liquidity Shift
- Earnings Focused
- Adding Credit
- Diversified Assets
Cusson Leung, Chief Investment Officer at KGI, says: “Looking ahead to 2026, investors can adopt a LEAD strategy: L stands for Liquidity Shift, benefiting from a weakening US dollar and interest rate cuts, with funds expected to flow to non-US dollar and Asian currencies; E stands for Earnings Focused, focusing on earnings growth to support valuations and allocating to US, European, and Japanese stocks; A stands for Adding Credit, locking in the credit of leading companies and increasing holdings of A-rated investment grade bonds; and D stands for Diversified Assets, responding to the upward trend in both stocks and bonds by including alternative assets to optimize asset allocation.”
Macro & US Markets
The US economy will experience a more pronounced downturn in 4Q25, which will extend into 1H26, and this will have a negative impact on consumption, slowing investment activity. Nevertheless, AI-driven productivity gains should provide some support, with US GDP growth in 2026 forecast at 2.2%. The eurozone will see moderate growth, with Germany benefiting significantly from fiscal expansion and economic improvement. Japan’s economy will strengthen on domestic demand, aided by additional fiscal stimulus. China has demonstrated resilience under trade protectionism in 2025. With inflation risks easing and labor market risks rising, the US Fed cut the interest rates in September 2025, with a total reduction of 75 bps in 2025, followed by an additional 50-75 bps in 2026.
Regarding US stocks, AI-driven productivity gains and cost reductions should sustain solid profitability, with S&P 500 earnings projected to grow by 13.55% year-on-year (YoY) in 2026. However, higher risk premiums may cap valuation upside, leading us to project a year-end target of 7,650 points. Market performance will reflect risk-driven declines in 1Q26, stabilize and recover in 2Q26, and rally significantly around the midterm elections in 4Q26. By sector, among AI-related themes we favor technology, semiconductors, utilities (on higher power demand), machinery for advanced manufacturing, and industrial REITs. Non-AI beneficiaries include aerospace and defense (on higher military spending), pharmaceuticals (on tariff benefits), and capital market segments (supported by active investment banking). As for fixed income, US economic weakness and Fed rate cuts will drive Treasury yields lower, with 10-year yields expected to fall to 3.5-3.7% by 2Q26. We recommend allocating to US Treasuries or high-rated investment-grade corporate bonds in 1H26, then rotating into high-yield bonds in 2H26 as policy rates and economic conditions reach a bottom.
James Chu, Chairman at KGI Securities Investment Advisory, says: “AI is triggering a new productivity revolution, supporting economic growth and strengthening corporate earnings. While the US economy is expected to slow, a recession remains unlikely, and the short-term impact of tariff policies should gradually fade by the first quarter of 2026. Although the Fed may shift from cutting rates at every meeting to cutting at alternating meetings, the overall environment remains a rate-cutting cycle. In a non-recession backdrop, lower interest rates should continue to support equity market performance.”
Mainland China and Hong Kong Markets
In terms of the macroeconomy, with the conclusion of trade agreements among many countries, risks have subsided. However, due to external drag, China’s GDP growth is expected to slow slightly to 4.6% in 2026. In 2026, investors should focus on four key areas for Hong Kong and mainland China markets: (1) In the consumption sector, domestic demand continued to be the core growth driver, contributing more than half of GDP. As the “trade-in” effect diminishes, the central government is expected to implement the “15th Five-Year Plan” and economic conference plans, launching a new round of subsidies covering culture, entertainment, and sports to continuously boost consumer spending. (2) In the financial market, risk appetite has increased. Given the narrowing spread between bond yields and fixed deposit rates, large amounts of savings are flowing into the capital market seeking returns. The fundamentals of the banking and insurance industries have bottomed out, and the credit structure is accelerating its shift from real estate to supporting the real economy. (3) Regarding the issue of “anti-involution,” the PPI remains weak, and capacity reduction has become a focus. Compared to 2015, this round involves more downstream private enterprises and needs to consider employment, presenting greater challenges. While industry consolidation is expected to be lengthy, the impact is controllable and beneficial for long-term healthy development. (4) Regarding new quality productive forces, this will replace real estate and infrastructure as the main investment focus. Digital infrastructure supports AI and embodied intelligence, and humanoid robots are expected to see commercialization in 2026, “iPhone moment.” Leading companies with core technological autonomy in innovative drugs will enjoy higher valuation premiums.
Overall, we are optimistic on Hang Seng Index. We expect the Federal Reserve’s interest rate cuts to drive fund inflows to the Hong Kong and mainland stock markets. Based on an upward revision of the forward PE ratio to 13.5x and 8% earnings growth, we set a target of 30,000 points for the Hang Seng Index by the end of 2026, representing a potential upside of approximately 14%. As confidence recovers, the investment style is expected to shift from defensive to growth stocks. Recommended 12 stocks: XPeng Motors (9868), UBTECH (9880), Tencent Holdings (700), Alibaba (9988), China Hongqiao (1378), AIA Group (1299), Ping An Insurance (2318), China Merchants Bank (3968), Akeso Biopharma (9926), Pop Mart (9992), Tencent Music (1698), and Sino Land (83).
Cusson Leung, Chief Investment Officer at KGI, says: “2026 marks a crucial turning point for the Chinese economy. While the market anticipates GDP growth to slow to 4.6%, “new quality productive forces,” resembling humanoid robots, is taking over as a new growth engine. The most critical signal in the market is the “awakening” of idle cash—massive savings are flowing from low-interest fixed deposits to the capital market seeking returns. With risk appetite returning and policy support intensifying, now is the time to shift investment strategies from “defensive” to “growth.” Driven by both valuation repair and earnings growth, we are optimistic that the Hang Seng Index will reach 30,000 points, and the allocation value of Hong Kong and mainland China stocks has reappeared.”
Taiwan Market
Compared to the dot-com era bull run, which lasted almost five years, the current AI frenzy has been around for about three years, suggesting that the uptrend is still in its middle phase and could extend through 2026.
AI plays are trading at high PEs, such valuations are backed by strong fundamentals. In fact, the PEG ratio of Taiwan’s AI supply chain has yet to surpass 1x. We estimate that aggregate earnings of AI plays will grow by 21% YoY in 2026, following impressive upticks of 35% in 2024 and 43% in 2025. AI stocks now account for more than 60% of TAIEX earnings, and with the ongoing AI arms race, overall TAIEX earnings growth is projected to accelerate from 14% in 2025F to 20% in 2026.
Although the AI frenzy should keep the bull market intact, volatility will rise in tandem due to: (1) substantial cumulative gains, and the fact that valuations are approaching historic highs; (2) policy and political uncertainty surrounding the US midterm elections; and (3) potential changes in the US Fed’s rate-cut pace. We expect the TAIEX to repeat a “smile-curve” pattern, featuring continued strength in 1Q26, followed by healthy corrections in 2Q-3Q26 before closing the year with a renewed upswing.
We think investors need to pay attention to two major themes. The first is a broad-based product spec upgrade trend across the AI supply chain, which will drive the industry into a new growth phase, with beneficiaries including foundries, GPU and ASIC designers, advanced packaging (such as CoWoS), and ODMs, as well as testing interfaces, memory, thermal solutions, CCL, ABF substrates, PCBs, switches, and power component suppliers amid strong AI computing demand and ongoing GPU platform upgrades. The second is diversification and defensive asset allocation. Innovations in consumer electronics, such as foldable iPhones and smart wearables, will provide growth opportunities, while companies with resilient domestic demand and stable high dividend yields offer a balanced strategy combining growth and income. Overall, investors should strike a balance between growth and resilience against volatility in their portfolios, in the face of market fluctuations.
James Chu, Chairman at KGI Securities Investment Advisory, says: “The solid earnings growth driven by AI and still reasonable valuations form a strong foundation for the ongoing bull market in Taiwanese equities. With AI adoption accelerating across enterprises and consumers, demand for computing power is rising rapidly. Yet supply remains constrained by chip and power bottlenecks, meaning hardware suppliers are likely to face continued shortages through 2026. Taiwan’s AI supply chain is set to remain a key beneficiary, particularly those tied to next-generation specification upgrades.”
Singapore Market
In 9M25, the overall performance of Singapore’s economy was better than expected as the global trade tensions eased after the US pivoted on its reciprocal tariffs and reached deals with its major trading partners. The manufacturing, wholesale trade and finance & insurance sectors remained the growth pillars of the Singapore economy, and each sector delivered decent growth. In particular, manufacturing’s growth has been robust, driven by the electronics, transport engineering and biomedical manufacturing clusters. The full year outlook is upbeat, as the growth momentum shall continue till the end of the year.
Looking ahead, the global economic outlook for 2026 suggests slower GDP growth for most of Singapore’s key trading partners, including China and the Eurozone, largely due to the impact of US tariffs, which will temper demand for Southeast Asian exports, though US growth is expected to remain resilient from AI investment. Consequently, Singapore’s outward-oriented sectors, particularly manufacturing and trade-related services, are projected to expand at a slower pace than in 2025, although the electronics and related sectors will benefit from AI demand, while some precision engineering and biomedical output may moderate domestically, the construction sector is set to grow, but consumer-facing sectors are likely to remain subdued. However, the relatively low interest rates and continuous government support shall buffer the impact of the slowdown, and the capital market will still benefit from the upward re-rating catalysts.
Chen Guangzhi, Head of Research at KGI Singapore, says: “Thanks to trade de-escalation and the AI wave, Singapore experienced significant economic expansion in 2025. Proactive government initiatives turbo-charged the equity bull run, and this strong momentum is expected to deliver an optimistic economic outlook for 2026.”
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KGI
KGI* has been a leading financial institution in Asia since 1997. Our scope of business encompasses wealth management, brokerage, fixed income, and asset management. We are committed to offering a comprehensive range of financial products and services to corporate, institutional, and individual clients throughout Asia. Backed by KGI Financial Group, we have a robust footprint in Asia, covering Taiwan, Hong Kong, Singapore, Indonesia, and Thailand^.
*KGI refers to KGI Asia Limited and its affiliates.
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When AI Meets Artistic Intelligence — Cross-City, Cross-Disciplinary Creative Education in Action
HONG KONG SAR – Media OutReach Newswire – 15 May 2026 – As artificial intelligence (AI) sweeps across the globe, how should humanity redefine the core competencies needed to shape the future? Funded by The Hong Kong Jockey Club Charities Trust and organised by AFTEC, Knowledge Exchange 2026—Artistic Intelligence: Shaping Human Achievement opens today for two days at Hong Kong’s newest cultural landmark—the East Kowloon Cultural Centre—marking the venue’s first major international arts education event. As a flagship annual initiative of the AFTEC Jockey Club Creative Futures Project, the forum has attracted nearly 260 educators, artists and stakeholders to explore how creative teaching and learning can inspire learning, spark creativity and nurture talent, laying the foundation for a better future.
Bringing Together Education and Cultural Leaders to Build a Cross-Disciplinary Creative Network
The opening ceremony was officiated by Ms Winnie Yip, Head of Charities (Culture & Sports Cluster; Community Engagement), The Hong Kong Jockey Club.
In her opening speech, Ms Winnie Yip, Head of Charities (Culture & Sports Cluster; Community Engagement), The Hong Kong Jockey Club, said: “The Club has been supporting the AFTEC Jockey Club Creative Futures Project since 2021. The results have been truly encouraging. The programme has strengthened participating students’ understanding of and care for others, while deepening their interest in arts and interdisciplinary learning. With the second phase now underway, we look forward to further supporting the growth and transformation of students and teachers.”
The opening ceremony also featured Prelude in Light, Sound & Video, a multimedia work created by students of the School of Theatre and Entertainment Arts at The Hong Kong Academy for Performing Arts (HKAPA), setting the stage for the forum and showcasing the creative potential of the younger generation.
Ms Lynn Yau, Chief Executive Officer of AFTEC and Project Director of the AFTEC Jockey Club Creative Futures Project, said: “In an era dominated by artificial intelligence, we need to redefine the unique value of humanity more than ever. AFTEC has always been committed to training teachers and creative practitioners, nurturing the ‘5Cs’ core competencies—Creativity, Critical Thinking, Communication, Collaboration, and Contribution—through systematic teaching strategies. By integrating creative learning into school curricula, we nurture a new generation equipped with resilience and problem-solving skills, while actively building a cross-disciplinary learning network. We are deeply grateful for the vision and support of The Hong Kong Jockey Club Charities Trust and the participation of our partners from various sectors, allowing us to collaboratively shape human achievement through Artistic Intelligence and mould the future with creativity.”
Redefining AI — Nurturing Irreplaceable “first-class humans”
The highlight of the forum’s first day was the first cross-city dialogue, a keynote entitled Creative Cities, Creative Mindsets: Bath, Hong Kong, New Delhi. Ms Kate Cross MBE, Director of The Egg at Theatre Royal Bath, United Kingdom; Ms Jigyasa Labroo, CEO and Co-founder of Slam Out Loud, New Delhi, India; Professor Anna CY Chan, Director of The Hong Kong Academy for Performing Arts; and Ms Lynn Yau, Chief Executive Officer of AFTEC, delivered the keynote together. The four creative visionaries highlighted that Artistic Intelligence is an indispensable competency for humanity in the age of AI, and shared how global frameworks can be adapted to local practice across the three cities’ distinctive educational and cultural ecosystems to cultivate young people’s imagination, empathy and meaning-making — core competencies for navigating an ever-changing future.
Ms Kate Cross introduced the School Without Walls programme, a groundbreaking initiative that immerses students in cultural venues for seven weeks, significantly enhancing their writing, emotional expression, and self-directed learning abilities. Ms Jigyasa Labroo shared Slam Out Loud’s work, which, through over 100 hours of arts-based social-emotional learning (SEL) curriculum, has successfully boosted the confidence, curiosity, and emotional regulation of 700,000 children across two Indian states. Professor Anna CY Chan, from the macro perspective of higher education and talent cultivation, emphasised the bridging role of Artistic Intelligence between professional arts training and primary/secondary creative education. Ms Lynn Yau showcased how the AFTEC Jockey Club Creative Futures Project transforms artists into “Teaching Artists,” shifting schools’ vision from “Arts Provisioned” towards being “Arts Empowered,” enabling Hong Kong students to demonstrate stronger vitality in cross-disciplinary learning.
The session also featured internationally acclaimed arts educator Professor Anne Bamford OBE, FCGI, Director of the International Research Agency; Professor Anne Mette Hjort, Director of The Research Centre for Creative Arts and Public Value, The Education University of Hong Kong; Mr Victor Kwok, Deputy Research Director of Our Hong Kong Foundation and Committee Member of the All-China Youth Federation; and Ms Heidi Lee, Executive Director of Hong Kong Ballet, as respondents. They offered diverse perspectives from policy research, cultural promotion and professional development, exploring how the arts and creativity can nurture outstanding talent of the future through structured and sustainable educational approaches in Hong Kong.
Collaborative Workshops—From Theory to Practice
The forum also featured collaborative workshops, where participants experienced first-hand how educational visions can be translated into practical teaching plans in an interactive setting.
In today’s (15 May) sessions, Creative Classroom LIVE!, led by teaching teams from Tin Shui Wai Methodist Primary School and Tuen Mun Government Primary School, brought authentic teaching plans to life in the theatre, allowing participants to experience the transformative power of creativity in local schools’ setting. Professor Anne Bamford OBE, FCGI, Director of the International Research Agency, facilitated the session The How Factor Lab: Designing Arts-rich Learning that Lasts?, discussing how the arts can be incorporated into education through sustainable policy and teaching strategies to establish a long-term and stable creative ecosystem in schools and communities.
Day Two Highlights — The Many Dimensions of Artistic Intelligence
On the second day of the forum (16 May), discussions will build upon the first day’s highlights and continue to delve deeper into the theme of Artistic Intelligence. In the keynote The Real AI: Artistic Intelligence and the Future of Human Potential, Professor Anne Bamford OBE, FCGI, Director of the International Research Agency, will discuss how the integrated development of personal cognitive, creative, social and digital capabilities can unlock human potential and shape a new generation equipped with innovation and adaptability, calling on education systems, cultural institutions and communities to collaborate in ensuring that young people maintain their unique edge in the age of AI.
Two collaborative workshops will also take place. School Without Walls: Changing Sites of Learning, led by Ms Kate Cross MBE, Director of The Egg at Theatre Royal Bath, United Kingdom, will demonstrate how learning spaces can be extended beyond school campuses to curate meaningful and personalised arts education experiences through the School Without Walls programme. What if We All Had a Voice? The Possibilities of the Arts in Social-Emotional Learning, led by Ms Jigyasa Labroo, CEO and Co-founder of Slam Out Loud, New Delhi, India, will share how locally rooted curriculum resources that address social issues can be developed to empower children to use creativity to tackle life and societal challenges and to weave their dreams.
Mutual Growth—Frontline Teachers and Artists Share Their Journeys and Learning
The forum also invited schools and creative practitioners from the AFTEC Jockey Club Creative Futures Project to share their practical experiences. In the panel discussion From Traditional to Creative Teaching, Vice Principal Kiley Tse of Ho Lap Primary School (Sponsored by Sik Sik Yuen), Ms Katherine Ip of Hong Kong and Macau Lutheran Church Primary School, and Ms Jourdan Wong of Cheung Sha Wan Catholic Primary School will share insights and explore the far-reaching impact of creative teaching and learning on teachers’ personal growth, students, the learning environment, and the overall creative learning culture of schools.
Another panel discussion, From Introspective Artists to Communicative Teaching Artists, features creative practitioners Ms Grace Cheng; Mr Reds Cheung of Laichankee; Ms Cally Yip of Passoverdance; and Ms Priscilla Lai, Lead Creative Practitioner of the AFTEC Jockey Club Creative Futures Project. Their sharing proves that the Project’s collaborative model not only benefits schools—teachers’ and creative practitioners’ artistic practices are also nourished through the teaching process, fostering mutual growth and grooming the community of practice of teaching artists in Hong Kong.
Creative Learning Arts Awards — Celebrating Local Education Transformation
To showcase the Project’s impact over the years, the forum will host the Creative Learning Arts Awards ceremony, recognising outstanding schools, teachers and creative practitioners, and celebrating the remarkable progress of the local education community in advancing creative thinking and whole-person development.
For more information, please visit:
AFTEC Jockey Club Creative Futures Project: https://creativefutures.aftec.hk/home-en/
Knowledge Exchange 2026—Artistic Intelligence: Shaping Human Achievement: https://creativefutures.aftec.hk/knowledge-exchange/ke2026/
Hashtag: #AFTEC
The issuer is solely responsible for the content of this announcement.
About AFTEC Jockey Club Creative Futures Project
Funded by The Hong Kong Jockey Club Charities Trust, the AFTEC Jockey Club Creative Futures Project is a multi-level creative learning scheme designed to provide a much-needed system-led approach to creative thinking in educational institutions from tertiary to primary.
Based on a successful pilot (2021 – 2024), the key focus in this expanded version is in training teachers and creative practitioners.
With practical strategies for professionals to teach across the curriculum based on the 5C’s—Creativity, Critical Thinking, Communication, Collaboration, and Contribution— creative practitioners join teachers for in-school classes to co-design and co-create lesson plans for use in classroom throughout the year.
About AFTEC
Advancing creative learning and arts education in Hong Kong
Creativity allows us to recognise potential within ourselves and the world around us. It promotes problem-solving, nurtures relationships, cultivates resilience, and can transform lives in countless ways. At AFTEC, we work with students, educators, and creative practitioners to plant the seeds of creativity in our community.
As a proudly homegrown Hong Kong organisation, we nurture the city’s greatest natural resource — its people. Through co-designed, collaborative, and inclusive bilingual education programmes, we create supportive environments where young minds are free to explore, express, and flourish. We spark imagination, build confidence, and foster a sense of growth and belonging together.
Website: www.aftec.hk
Media OutReach
Come to Beijing Chaoyang for an Adventurous Encounter with Trendy Toys and Intangible Cultural Heritage
This is not a traditional exhibition, but an urban carnival that seamlessly blends popular IPs, intangible cultural heritage (ICH) crafts, immersive performances, and top-tier cultural and creative products from across China. The fair brings together high-quality creative cultural products, time-honored ICH brands, and trendy toy labels. Covering a total area of approximately 66,000 square meters, it features both indoor and outdoor zones. Centered around two main themes — “New Oriental Aesthetics” and “The Rise of Guochao (Chinese trendy culture)” — the event showcases over 10,000 creative products.
In the “Rise of Guochao” zone, leading Chinese trendy toy brands present immersive installations. 52TOYS brings the “Panda Roll Playful Panda Forest,” where dozens of lifelike, giant panda sculptures are scattered among the trees, creating perfect photo opportunities. Pop Mart hosts a special exhibition celebrating the 20th anniversary of its hit IP “MOLLY,” featuring a giant castle inflatable and vending machines for blind boxes. Also making its offline debut as a themed zone, “The Emoji Clinic,” the globally recognized emoji brand launches several exclusive items not yet available in stores.
The ICH section is equally impressive. Ten nationally recognized master artisans showcase their representative works at the “Oriental Showcase,” presenting ten traditional crafts, including filigree inlay, Hepu horn carving, polished lacquerware, Longquan celadon, and Shui ethnic group’s horsetail embroidery. Traditional ICH techniques are creatively combined with trendy toy designs — Peking silk figurines, cloisonné, and Beijing embroidery are integrated into modern doll clothing and accessories, giving birth to a unique Oriental trend aesthetic. Additionally, over 40 other ICH items — such as jade carving, cloisonné, Beijing embroidery, Miao embroidery, and carved lacquer — allow visitors to observe master artisans at work up close and participate in hands-on activities like seal carving, tie-dyeing, and clay sculpting.
Throughout the event, five major venues in Chaoyang Park will host over 100 performances, spanning street dance, traditional Chinese music, symphony, opera, and parades. The Shell Theater will present an ACG symphony concert and a symphony of Hong Kong film golden melodies. At the East Square of Chaoyang Planning Art Museum, the “New Oriental Aesthetics” pop-up stage will feature continuous performances of Jingxi Taiping Drum dance and classical umbrella dance. The East Square of Weibo IN will focus on trendy crossover acts, with breakdance battles and jazz quartets taking turns on stage.
And when night falls, even more intriguing adventures begin. A mecha parade weaves through the crowds — you might brush past Black Myth: Wukong and a troupe of mascots. On the Fangzhou Lake, lantern-lit flower boats set sail, their slow journey accompanied by ancient music and shimmering water, creating a moving Oriental painting. From daytime blind-box surprises to nighttime lantern-lit garden strolls, the park offers unexpected delights at every turn.
No tickets are required — just a sense of curiosity. Bring your camera, gather your friends, come to Beijing Chaoyang Park, become a “power player,” and join this immersive carnival of trendy toys and intangible cultural heritage.
Hashtag: #Chaoyang
The issuer is solely responsible for the content of this announcement.
Media OutReach
Customer Service Excellence Award 2025 Concluded Successfully MTR Crowned Grand Champion Among Over 100 Winners
Held under the theme “High Tech, High Touch – AI Empowers a New Era in Customer Service”, the event attracted more than 450 guests. The Honourable Algernon Yau, JP, Secretary for Commerce and Economic Development, graced the occasion as the Guest of Honour. The award presentation ceremony was also privileged to have The Hon Shiu Ka Fai, BBS, JP, Member of the National Committee of the CPPCC and Member of the Legislative Council; The Hon Perry Yiu, MH, JP, Member of the Legislative Council; together with representatives of professional associations who served as award presenters. Members of the award judging panels and customer service industry leaders also joined the celebration to recognize the outstanding achievements of the award winners.
Hon Algernon Yau: Government Injected HK$200 Million into BUD Fund to Support AI-driven Digital Transformation
In his opening address, The Honourable Algernon Yau, JP, noted that artificial intelligence was driving customer service into a new era, shifting from human-led operations to a model that integrates data analytics and intelligent systems. Mr Yau stressed that as technology advances, human warmth becomes increasingly precious. He emphasized that true excellence in customer service is built on a customer-centric foundation, requiring service professionals to integrate technology with empathy, sincere communication and personalized attention to achieve a balance of efficiency and human warmth.
“2026 marks the start of the planning and layout for the nation’s 15th Five-Year Plan, which prioritizes high-quality development, innovation-driven growth and the deep integration of the digital economy. Hong Kong is proactively aligning itself with the country’s development strategy, contributing its unique strengths to meet national needs. The services sector, in particular, must upgrade and transform. To help, the Hong Kong SAR Government has put HK$200 million into the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund), offering targeted support for AI adoption and helping businesses transform digitally.” Mr Yau stated.
Derek Choi: 40% Surge in Applications Reflected High Competitiveness and Recognition of the Awards
Mr Derek Choi, Chairman of HKACE, said “the Customer Service Excellence Award 2025 received 220 applications – a significant 40% increase from the previous year – reflecting the industry’s growing emphasis on service quality. A total of 102 awards were presented, making the competition exceptionally fierce.”
“Participants had to be nominated by the member companies and submit a written proposal in the first round to be shortlisted among the five finalists for a panel interview,” Mr Choi explained. “An independent judging panel, composed of industry elites and academics, then determined the gold, silver, bronze, and merit award winners. This rigorous assessment process upheld the award programme’s standing.” Mr Choi also extended his heartfelt gratitude to all judging panel members, noting that their selfless dedication and strong support had contributed significantly to the credibility of the awards programme.
Customer Service Excellence Award 2025 Winners Unveiled: MTR Crowned Grand Champion
The Customer Service Excellence Award 2025 featured three main categories – Individual Awards, Team Awards and Programme Awards – alongside the Grand Award. MTR Corporation scooped a total of 15 awards, standing out among a strong field of competitors to be named Grand Champion. HKT Limited and The Hong Kong Jockey Club also secured the 1st Runner-up and 2nd Runner-up of the Grand Award respectively.
Other gold award winners included AIA International Limited, BMW (Hong Kong) Limited, Bank of China (Hong Kong) Limited, Cathay Pacific Airways, CLP Power Hong Kong Limited, Hong Kong Fire Services Department, Hongkong Post, and Industrial and Commercial Bank of China (Asia) Limited.
Appendix 1: List of Winners of the HKACE Customer Service Excellent Award 2025
| Grand Award | ||
| Champion | MTR Corporation | |
| 1st Runner-up | HKT Limited | |
| 2nd Runner-up | The Hong Kong Jockey Club | |
| Individual Award – Contact Centre Service Award | ||
| Gold | Bank of China (Hong Kong) Limited | Tse Mei Yee, Shirley |
| Silver | HKT Limited | Li Miu Hei, Annie |
| Bronze | AIA International Limited | Luk Kwong Lam |
| Merit | HKT Limited | Yeung Shuk Yi, Joe |
| Merit | The Kowloon Motor Bus Co. (1933) Ltd. | Wan Ka Hing, Tingo |
| Individual Award – Counter Service Award | ||
| Gold | BMW Concessionaires (HK)Ltd | Lai Ka Yui, Brian |
| Silver | CLP Power Hong Kong Limited | Lau Tik Fung, Oscar |
| Bronze | Bank of China (Hong Kong) Limited | Ng Ka Ling, Aimee |
| Merit | China Mobile Hong Kong Company Limited | Yeung Fong Chun, Frank |
| Merit | Sino Group – Citywalk 2 Management Company Limited | |
| Individual Award – Field & Special Service Award | ||
| Gold | Hongkong Post | Hung Tsz Yin |
| Silver | Ngong Ping 360 Limited | Yip Ka Man, Carmen |
| Bronze | Shell Hong Kong Limited | Xia Min |
| Merit | Bank of China (Hong Kong) Limited | Luk Ka Chun, Paul |
| Merit | Cathay | Ardis Yeung |
| Individual Award – Frontline Service Award | ||
| Gold | Industrial and Commercial Bank of China (Asia) Limited | Kwan Shing Yan, Kelvin |
| Silver | Goodwell Property Management Limited | Wong Pui Ching, Rebecca |
| Bronze | MTR Corporation | Law Pak Hin, Hinson |
| Merit | The Hong Kong Jockey Club | Cheung Tsz Ching |
| Merit | Aviation Security Company Limited | Cheng Bing Lam |
| Individual Award – Internal Support Service Award | ||
| Gold | HKT Limited | Zheng Minsui |
| Silver | BOC Group Life Assurance Co. Ltd. | Ma Wing Sze, Sissy |
| Bronze | Cathay | Bianca Tang |
| Merit | AIA International Limited | Lyu Chen Yu |
| Merit | Airport Authority Hong Kong | Agnes Wong |
| Individual Award – Customer Service Training Award | ||
| Gold | HKT Limited | Law Kar Yan, Kannis |
| Silver | The Hong Kong Jockey Club | Brian Leung |
| Bronze | Cathay | Jennifer Lui |
| Merit | MTR Corporation | Chiu Tsz Ho, Ivan |
| Merit | H Properties Management (HK) Co. Ltd. | Yip Ching Ching, Janee |
| Individual Award – Customer Service Supervisor / Team Manager | ||
| Gold | Cathay | Michelle To |
| Silver | The Hong Kong Jockey Club | Miriam Hang |
| Bronze | MTR Corporation | Matthew Cheung |
| Merit | Ocean Park Corporation | Li Chi Kit, Henry |
| Merit | HKT Limited | Wong Lai Man, Ulysses |
| Individual Award – Top 5 Young Stars of the Year | ||
| Cathay | Tedd Wong | |
| The Hong Kong and China Gas Co. Ltd. | Sham Fung Wa | |
| Hong Kong Tourism Board | Michelle Tam | |
| CLP Power Hong Kong Limited | Ng Oi Mei, Amy | |
| Ngong Ping 360 Limited | Yau Cheuk Ting, Anna | |
| Team Award – Contact Centre Service Award | ||
| Gold | Bank of China (Hong Kong) Limited | Digital Hub |
| Silver | China Mobile Hong Kong Company Limited | Customer Contact Centre |
| Bronze | MTR Corporation | High Speed Rail Service Hotline |
| Merit | Cathay | Virtual Relationship Manager |
| Merit | HKT Limited | 1O1O Outbound Contact Centre |
| Team Award – Counter Service Award | ||
| Gold | CLP Power Hong Kong Limited | Smart Energy@Tai Po |
| Silver | Bank of Communications (Hong Kong) Limited | Tai Po Branch |
| Bronze | The Hong Kong Jockey Club | Kowloon Bay, Telford Off-Course Betting Branch |
| Merit | MTR Corporation | ELEMENTS Concierge Service |
| Merit | Airport Authority Hong Kong | Customer Service Team & Terminal Duty Team |
| Team Award – Field & Special Service Award | ||||||||
| Gold | Cathay | HKIA Rescue Team | ||||||
| Silver | The Kowloon Motor Bus Co. (1933) Ltd. | KMB Field Operations Support Team | ||||||
| Bronze | CLP Power Hong Kong Limited | CLP Green Studio Multi-Purpose Vehicle | ||||||
| Merit | Ngong Ping 360 Limited | Attractions & Entertainment Team | ||||||
| Merit | Airport Authority Hong Kong | Service Team of Airport Home Baggage Check-in | ||||||
| Team Award – Frontline Service Award | ||||||||
| Gold | Cathay | Cabin Crew Team | ||||||
| Silver | The Hong Kong Jockey Club | Tuen Mun Town Plaza Off-Course Betting Branch | ||||||
| Bronze | HKT Limited | “Here to Serve” Team | ||||||
| Merit | MTR Corporation | East Rail Line Interfacing Team | ||||||
| Merit | Airport Authority Hong Kong | HKIA VIP Lounge and Government VIP Lounge Team | ||||||
| Team Award – Internal Support Service Award | ||||||||
| Gold | AIA International Limited | Premier Agency Enquiry Team | ||||||
| Silver | MTR Corporation | Operations Data Studio | ||||||
| Bronze | HKT Limited | Operations Transformation Team | ||||||
| Merit | AXA China Region Insurance Company Limited | Customer Strategy and Insights Team | ||||||
| Merit | The Hong Kong Jockey Club | Retail – Racecourse Work Group | ||||||
| Team Award – Customer Service Training Award | ||||||||
| Gold | HKT Limited | Consumer Business Group Training Team | ||||||
| Silver | AIA International Limited | Service Training and Knowledge Team | ||||||
| Bronze | MTR Corporation | MTR Learning & Training | ||||||
| Merit | Hong Kong Tourism Board | Visitor Services and Human Resources | ||||||
| Merit | ABC Pathways School | Training & Development | ||||||
| Programme Award – Customer Retention Award | ||||||||
| Gold | MTR Corporation | Elderly Care Programme | ||||||
| Silver | CLP Power Hong Kong Limited | Power Connect | ||||||
| Bronze | HKT Limited | HKT Commercial SME Customer Retention Programme | ||||||
| Merit | The Hong Kong Jockey Club | Experience Diversity, Connect with CARE | ||||||
| Merit | Cathay | Cathay Million Miles Programme | ||||||
| Programme Award – Digital Transformation Award | ||||||||
| Gold | MTR Corporation | MTR Smart Mobility: Digital Transformation for Travel Concession Schemes | ||||||
| Silver | CLP Power Hong Kong Limited | Digital Transformation for Hong Kong ‘s Largest Residential Peak Demand Management | ||||||
| Bronze | Airport Authority Hong Kong | Smart Passenger Security Screening System at Hong Kong International Airport | ||||||
| Merit | China Mobile Hong Kong Company Limited | AI+Service | ||||||
| Merit | Ngong Ping 360 Limited | “Delight Guests Always” – NP360 AI Assistant | ||||||
| Programme Award – Outstanding Customer Service Award | ||||||||
| Gold | MTR Corporation | Kai Tak and Sung Wong Toi Stations Customer Experience Enhancement | ||||||
| Silver | Hong Kong Fire Services Department | “Old Friends” Home Visit Scheme | ||||||
| Bronze | Ngong Ping 360 Limited | Shining You Customer Service Program- Creating Muslim Friendly Attractions in Hong Kong | ||||||
| Merit | CLP Power Hong Kong Limited | CLP Community Watch & Care Service Pilot Programme | ||||||
| Merit | H Properties Management (HK) Co. Ltd. | Happy DNA: Happier Places, Happier People | ||||||
| Programme Award – People Development Award | |||
| Gold | Hong Kong Fire Services Department | Greater Bay Area Joint Emergency Response and Rescue Exercise “Liancheng – 2025” | |
| Silver | Airport Authority Hong Kong | The Operation Officer
Skill-based Salary Progression Scheme |
|
| Bronze | The Hong Kong Jockey Club | Racing Towards Excellence: Retail Succession Programme | |
| Merit | MTR Corporation | Buddy Scheme for Newly Recruit Station Officer | |
| Merit | Aviation Security Company Limited | Structured Customer Service Development Programme | |
| Programme Award – Service Innovation Award | |||
| Gold | MTR Corporation | MTR Smart Mobility: Intelligent Crowd Diversion System for Kai Tak Sports Park | |
| Silver | H Properties Management (HK) Co. Ltd. | Happy Moment | |
| Bronze | BOC Group Life Assurance Co. Ltd. | 5+1 Senses @ Service Centre | |
| Merit | The Kowloon Motor Bus Co. (1933) Ltd. | Pet Bus Tour | |
| Merit | HKT Limited | Transforming Service Experience – Wise | |
| Programme Award – Employee Engagement Award | |||
| Gold | AIA International Limited | “Inside Out” | |
| Silver | The Hong Kong Jockey Club | “HAPPI-D” Programme | |
| Bronze | Ocean Park Corporation | Village Adventure | |
| Merit | MTR Corporation | Know Our Customer Programme | |
This press release is issued by Passion PR Limited on behalf of the Hong Kong Association for Customer Service Excellence.
Hashtag: #HongKongAssociationForServiceExcellence #HKACE
The issuer is solely responsible for the content of this announcement.
About Hong Kong Association for Customer Service Excellence (HKACE)
Hong Kong Association of Customer Service Excellence (HKACE), a non-profit organisation, was established in February 2000 to represent more than 300,000 customer service practitioners in Hong Kong, the number of member companies has almost 50. The 9 founding member organisations are AIA International Limited, Cathay Pacific Airways Limited, Centaline Property Agency Limited, CLP Power Hong Kong Limited, HKT Limited, Hongkong Post, Shell Hong Kong Limited, Standard Chartered Bank (Hong Kong) Limited and The Hong Kong Jockey Club. They are committed to continuously improve themselves, to promote customer service culture with passion, leveraging on members’ synergy and professional expertise.
The Association initiated a multitude of industry awards and programmes over the years, including the “Customer Service Excellence Award”, “Young Service Stars Programme”, and the “Quality Customer Service Programme”. “Service Appreciation Programme” was first launched in 2013 to foster service appreciation culture. The Association aims to facilitate the sharing of managerial experiences among member organizations, encourage innovation, and elevate the competitiveness of Hong Kong’s service sector by rewarding high levels of customer service.
About Customer Service Excellence Award
In line with the mission to promote customer service excellence among members, the HKACE introduced the Customer Service Excellence Award program in 2001 with an aim of motivating customer service staff, recognizing outstanding performers and promoting a customer service culture with member companies.
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