Eric Ng

Eric Ng

Senior Reporter, Business

Eric Ng is a contributor to Inkstone. He is a business reporter at the South China Morning Post.

Location
Hong Kong
Language spoken
English, Mandarin, Cantonese
Areas of Expertise
Energy, industrial materials, biotechnology
China’s KFC and Pizza Hut plan drastic cut in plastics
The Chinese operator of KFC and Pizza Hut wants to start using paper straws and biodegradable packaging to cut plastic usage by almost one third over the next five years. Yum China Holdings, one of China’s largest restaurant operators, intends to phase out non-degradable plastic bags and cutlery at all its KFC restaurants in mainland China by the end of 2025 and eliminate non-degradable bags from its Pizza Hut stores by the end of 2022. The overall aim is to achieve a 30% reduction in non-degradable plastic packaging by weight via a series of initiatives. “As a result of these initiatives, Yum China expects a reduction of approximately 8,000 tons in non-degradable plastics annually starting
China’s electric car market is accelerating. Can makers keep us charged?
The world is returning full circle to the electric car, as concerns about gaseous emissions and their impact on climate change compel global governments to find alternatives to gas-guzzlers. Iowa was the global hub for electric vehicles more than a century ago, with more than 30,000 horseless carriages produced in Des Moines at the industry’s peak in 1912. William Morrison, a Scottish immigrant and chemist, had invented a self-powered electric carriage – known as the auto-mobile – using lead-acid battery cells that could carry 12 passengers at a top speed of 20 miles per hour for 50 miles (80km) before recharging. In the century since, vehicles running on oil-guzzling internal combustion eng
This tycoon is making a billion dollars a month from coronavirus
Singapore’s wealthiest man is getting richer to the tune of more than $1 billion a month this year, as the stock price of his medical devices company soared by almost 50% amid the coronavirus pandemic. The fortunes of Li Xiting, the co-founder and chairman of Shenzhen Mindray Bio-Medical Electronics, have risen by $4.3 billion this year to $13.5 billion, according to Bloomberg data, or an average of $37.7 million every 24 hours. That makes Li, born in eastern China’s Anhui province, the wealthiest man in Singapore. He has been a citizen of the city-state since at least 2018. Mindray’s shares have jumped since the coronavirus pandemic, which was first reported in central China’s Hubei provinc
Could China’s next tech IPO hub be...Macau?
Could the global gaming capital of Macau become known for something other than casinos? Yes, according to a senior official who has just submitted a proposal to the Chinese leadership to create a Nasdaq-style, tech-oriented stock exchange in the former Portuguese colony. He Xiaojun, an official in the provincial financial bureau of Guangdong, which neighbors Macau, said he hoped to get approval from the national authorities by mid-December, ahead of the 20th anniversary of the city’s return to China, according to the Sina Finance website. Guangdong, home of the high-tech megacity of Shenzhen, is seeking to tap more capital for its tech companies. Guangdong is also the center of the proposed
World’s biggest pork eaters are exploring other options
There’s no doubt that China loves pork. The dishes vary by region, and everyone has their own way of preparing and serving the nation's most popular meat. What’s surprising, though, according to people who study China’s eating habits, is that it appears the country’s pork consumption has already peaked. Some 45.6 million tons of pork was consumed by the nation’s 1.4 billion people last year, according to market research provider Euromonitor. Although slightly higher than the 45.1 million tons consumed in 2017, it was just under 5% lower than the historical high of 46.6 million tons in 2014. On a per-capita basis, last year’s consumption of 66 pounds was also 4.5% lower than in 2014. Darin Fr