Hong Kong authorities are requesting HK$4.6 billion (US$587 million) to support the government-owned postal service, Hongkong Post, over the next three years. The company has incurred losses for eight consecutive years due to declining mail volume.

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.....