Hong Kong Business News

March exports value up 4.7%

25-4-2024

The value of Hong Kong’s total exports increased to $384.5 billion in March, up 4.7% on the same month last year, the Census & Statistics Department announced today.

The value of imports of goods increased 5.3% to $429.5 billion in the same period.

A trade deficit of $45 billion, or 10.5% of the value of imports, was recorded in March.

APEC business meeting held in HK

23-4-2024

Chief Executive John Lee today hosted a welcome dinner for the Asia-Pacific Economic Cooperation Business Advisory Council (ABAC) delegates attending the second 2024 ABAC Meeting in Hong Kong.

Speaking at the dinner, Mr Lee highlighted the commitment of Hong Kong, China, to the Asia-Pacific Economic Cooperation (APEC).

He said: “We firmly bel...

CareerConnect Expo set for May

23-4-2024

The CareerConnect Expo will be held on May 7 and 8 in the Convention & Exhibition Centre concurrently with the Global Talent Summit · Hong Kong, offering quality job information and tailored solutions for settling in the city.

Hong Kong Talent Engage (HKTE) welcomes talent who are interested in coming to Hong Kong or have recently arrived in the...

HK economy solid, growing: FS

23-4-2024

I have great pleasure to meet you all at the second meeting of the APEC Business Advisory Council (ABAC) this year. This remarkable event gathers nearly 200 business leaders, representing the voice of all 21 APEC member economies.

First, let me express my sincere gratitude to the representatives of ABAC Peru and ABAC Hong Kong, China for working toge...

Inflation at 2% in March

23-4-2024

Overall consumer prices rose 2% in March year-on-year, slightly up from the average 1.9% rate of increase for January and February, the Census & Statistics Department announced today.
 

Netting out the effects of the Government’s one-off relief measures, underlying inflation was 1%, also slightly higher than the 0.9% average rate of inc...

HK shines at invention event

21-4-2024

Secretary for Innovation, Technology & Industry Prof Sun Dong today congratulated the Hong Kong delegation to the 49th International Exhibition of Inventions of Geneva on its success at the event.

The delegation was awarded a record high number of more than 350 prizes, including six Special Awards, 28 Gold Medals with Congratulations of the Jury ...

Kevin Yeung views artworks

20-4-2024

Secretary for Culture, Sports & Tourism Kevin Yeung today visited Ambassador for Cultural Promotion Xu Bing's art exhibition at the Venice Biennale in Venice, Italy.

He also met Hong Kong artists who are exhibiting their artworks in Venice, as well as local cultural and artistic partners in Italy, to exchange views on cultural matters.

The ...

Market access measures welcomed

19-4-2024

The Hong Kong Special Administrative Region Government warmly welcomed the measures announced by the China Securities Regulatory Commission (CSRC) today to further expand mutual access between the capital markets of the Mainland and Hong Kong.

The measures include: expanding the eligible product scope of equity exchange-traded funds (ETFs) under Stoc...

HK can help Mainland firms thrive: FS

19-4-2024

Financial Secretary Paul Chan concluded his trip to Suzhou today by visiting an enterprise that engages in hydrogen power technology.

Apart from viewing the venture’s fuel cell system and its product assembly and testing facilities, Mr Chan met its representatives to learn about the firm’s plans to expand research and development and internationa...

Chinese culture festival set

18-4-2024

The inaugural Chinese Culture Festival (CCF) will be held from June to September, presenting various performing arts programmes and extension activities for the public and visitors to experience the broad and profound Chinese culture. 

Addressing the CCF's programme parade today, Secretary for Culture, Sports & Tourism Kevin Yeung not...

FS tours Hangzhou, Suzhou

18-4-2024

Financial Secretary Paul Chan today met Communist Party of China (CPC) officials and visited research and development (R&D) companies in Hangzhou and Suzhou on day two of his Mainland trip.

In the morning, Mr Chan met CPC Zhejiang Provincial Committee Deputy Secretary and CPC Hangzhou Municipal Committee Secretary Liu Jie to exchange views on dee...

I&T park's partners help attract talent

18-4-2024

I am delighted to be here with you today, for the Partnership Launching Ceremony of the Hong Kong-Shenzhen Innovation & Technology (I&T) Park.

This morning's ceremony is a milestone in the development of the I&T park - one that resonates far beyond the park's reach, along Hong Kong's boundary with Shenzhen.

Some 60 companies and org...

I&T park signs partnership pacts

18-4-2024

The Hong Kong-Shenzhen Innovation & Technology Park Limited (HSITPL) today signed memoranda of understanding (MOUs) with some 60 partners from nine economies.

Chief Executive John Lee, Acting Financial Secretary Michael Wong and Secretary for Innovation, Technology & Industry Prof Sun Dong attended the partnership launch ceremony and witnesse...

FS begins Hangzhou trip

17-4-2024

Financial Secretary Paul Chan began his visit to Hangzhou today by attending a seminar on Hong Kong serving as a multinational supply chain management centre for Mainland enterprises, and touring innovation and technology enterprises.

At the seminar co-organised by Invest Hong Kong and the Hong Kong Economic & Trade Office in Shanghai, Mr Chan br...

Kevin Yeung to visit Venice

17-4-2024

Secretary for Culture, Sports & Tourism Kevin Yeung will depart for Venice, Italy, in the early morning of April 19 to officiate at the opening ceremony of the Hong Kong exhibition at the Venice Biennale.

While there, he will visit the China pavilion and pavilions of other regions.

The Hong Kong show at the biennale is organised by the Arts...

FS to visit Hangzhou, Suzhou

16-4-2024

Financial Secretary Paul Chan will depart on a visit to Hangzhou and Suzhou tomorrow, and will return to Hong Kong on April 19.
 

During the visit, he will tour innovation and technology enterprises engaged in artificial intelligence, the Internet of Things, biotechnology, new energy and new materials, and will meet representatives of local e...

Govt prepares for holiday arrivals

16-4-2024

The Culture, Sports & Tourism Bureau today convened a meeting to follow up on the preparatory work by various departments for the arrival of visitors to Hong Kong during the Mainland's Labour Day Golden Week, including crowd control management.

The meeting was chaired by Secretary for Culture, Sports & Tourism Kevin Yeung, with representative...

8 lease modifications recorded in Q1

15-4-2024

The Lands Department today announced that it registered eight lease modifications and two land exchanges in the Land Registry during the quarter ending March 2024, adding that two were technical changes involving no premium.
 

Of the land transactions, three are located on Hong Kong Island, five are in Kowloon and two are in the New Territori...

US, Canada remarks condemned

13-4-2024

The Hong Kong Special Administrative Region Government today strongly condemned the US and Canada for smearing the Safeguarding National Security Ordinance under the pretext of foreign travel advice updates.

The so-called travel advice claimed that the risks of travelling to Hong Kong would increase after the ordinance comes into effect.

Pointi...

Seamless connectivity for villages

12-4-2024

People usually find rural life a good way to kick back and spend time at a leisurely pace. But to keep up with the pace of modern technology, the copper-based network villagers once relied on for basic telecommunications services has fallen short.

This is why the Government implemented the the Subsidy Scheme to Extend Fibre-based Networks to Vill...

Govt showcases tech solutions

13-4-2024

At the second edition of the InnoEX which started today, over 100 technology solutions, including those developed by government departments, are being showcased at the Smart Hong Kong Pavilion set up by the Office of the Government Chief Information Officer (OGCIO).

Through interactive experiences and live demonstrations, the pavilion display...

Christopher Hui wraps up US visit

12-4-2024

Secretary for Financial Services & the Treasury Christopher Hui met businesspeople and university scholars in Chicago yesterday, as he continued his visit to the US.
 

Mr Hui started the day by attending a breakfast seminar co-hosted by the Hong Kong Business Association of the Midwest and the Hong Kong Trade Development Council (HKTDC).<...

HK has multi-pronged digital strategy

12-4-2024

The digital economy has clearly emerged as a new driving force for global economic development. From digital payments to generative AI (artificial intelligence), data are rapidly changing how businesses operate and thrive, how cities are managed – and,  ultimately, how we work, learn and live.

Our country is a leader in this respect. Latest es...

CE meets Singaporean Deputy PM

12-4-2024

Chief Executive John Lee today met visiting Deputy Prime Minister and Coordinating Minister for Economic Policies of Singapore Heng Swee Keat.
 

Mr Lee said he was pleased to see Mr Heng in Hong Kong after they previously met in July last year, when Mr Lee visited Singapore.
 

He said Singapore has consistently been Hong Kong’...

Global talent summit set for May

11-4-2024

Hong Kong Talent Engage (HKTE) announced today that the Global Talent Summit · Hong Kong will be held on May 7 and 8 at the Convention & Exhibition Centre.

The Chief Executive set out in the 2023 Policy Address that a summit would be organised to promote regional exchanges and co-operation in talent attraction.

HKTE Director Anthony Lau sa...

Innotech body meets

11-4-2024

Secretary for Innovation, Technology & Industry Prof Sun Dong chaired the fourth meeting of the Committee on Innovation, Technology & Industry Development today.

At the meeting, members shared their views and suggestions on major initiatives related to the purview of the Innovation, Technology & Industry Bureau in the 2024-25 Budget.

Philanthropic hub vision promoted

10-4-2024

Secretary for Financial Services & the Treasury Christopher Hui promoted Hong Kong’s goal of turning the city into a major international philanthropic centre on day two of his trip to the US city of New York on April 9.

In the morning, he met Founder of Bloomberg LP & Bloomberg Philanthropies Michael Bloomberg to discuss Hong Kong’s polic...

Urban forestry forum opens

10-4-2024

The Hong Kong 2024 International Urban Forestry Conference opened at the Science Park today, bringing about 20 speakers from Hong Kong, the Mainland and overseas together to share their insights on various key topics related to urban forestry.

Organised by the Development Bureau with the theme “Green Metropolis - The Crucial Role of Urban Forests f...

Christopher Hui begins New York trip

9-4-2024

Secretary for Financial Services & the Treasury Christopher Hui began his visit to New York yesterday where he met leaders of financial and business institutions and addressed a reception with the Hong Kong community there.

While meeting Global Chief Economist of S&P Global Ratings Paul Gruenwald, Mr Hui elaborated on the measures taken to ma...

New investment scheme favoured

9-4-2024

The New Capital Investment Entrant Scheme has seen a good response since its launch on March 1, recording double-digit applications and over 1,600 enquiries, Invest Hong Kong (InvestHK) announced today.

InvestHK pointed out that the applications were from high-net-worth individuals of different nationalities.

Of the enquiries received, a...

Christopher Hui to visit US

8-4-2024

Secretary for Financial Services & the Treasury Christopher Hui will today begin a visit to the US, where he will meet and update representatives of the US business and academic communities on Hong Kong’s financial services sector.
 

The trip, which will involve stops in New York and Chicago, will also be used to promote Hong Kong’s f...

Incentives spur tourism innovation

5-4-2024

A special themed day tour taken recently by a group of European tourists in Hong Kong offers a flavour of the itineraries currently on offer to visitors.

Besides taking the Peak Tram to admire the Hong Kong skyline from above, they also visited the Aberdeen Typhoon Shelter and took a boat ride.

The group then visited the Blue House in Wan Chai...

Pop culture festival opens Apr 6

5-4-2024

The second Hong Kong Pop Culture Festival organised by the Leisure & Cultural Services Department will open tomorrow, presenting over 20 programmes spanning across literature, various art forms and martial arts.

Themed "Arts & Action", this year's festival will take audiences on a journey through time to explore the charm of Hon...

Business of I&T Week set

5-4-2024

The Business of Innovation & Technology Week (BIT Week) will be held in April, the Innovation, Technology & Industry Bureau announced today.

Highlight events include the Digital Economy Summit, the InnoEX and the inaugural Hong Kong World Youth Science Conference.

Secretary for Innovation, Technology & Industry Prof Sun Dong ...

Property sales rise 57.2%

3-4-2024

The Land Registry logged 5,013 sale and purchase agreements for all building units received for registration in March, up 57.2% compared with February and 41.7% lower year-on-year.

The total consideration for such agreements in March rose 65.5% from February, to $37.4 billion, while a 45.7% year-on-year decrease was recorded.

Of the agreements,...

Feb retail sales up 1.9%

3-4-2024

The value of total retail sales in February, provisionally estimated at $33.8 billion, rose 1.9% compared with the same month in 2023, the Census & Statistics Department announced today.

After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales for the month was up 0.5% year-o...

Transhipment scheme extended

1-4-2024

Customs today extended the Free Trade Agreement Transhipment Facilitation Scheme to cover transhipment cargo from the Mainland to Singapore via Hong Kong.

The scheme's scope of service originally covered the cargo of 67 economies under 19 trade agreements signed between the Mainland and its trading partners to be transhipped northbound via Hong Kong ...

Multisensory show launched in TST

28-3-2024

Secretary for Culture, Sports & Tourism Kevin Yeung today attended the launch ceremony of Voyage with Van Gogh, an “Art@Harbour 2024” project being staged at the Cultural Centre Piazza from now until May 31.

Addressing the ceremony, Mr Yeung said the Leisure & Cultural Services Department has joined hands with three esteemed local ...

CS concludes Hainan visit

28-3-2024

Chief Secretary Chan Kwok-ki concluded his visit to Hainan today by attending the opening plenary of the Boao Forum for Asia Annual Conference 2024 and the Hainan-Hong Kong Entrepreneurs' Luncheon.

The theme of this year's forum is “Asia & the World: Common Challenges, Shared Responsibilities” and National People's Congress Standing Committee...

Mortgage loans down 15%

28-3-2024

The value of residential mortgage loans approved in February was $17.9 billion, a 15% drop compared with January, the Monetary Authority announced today.

Mortgage loans financing primary market transactions decreased 15% to $5.3 billion, while those financing secondary market transactions dipped 15.2% to $9.6 billion.

Loans for refinancing fell...

CS speaks at Boao thematic forum

27-3-2024

Chief Secretary Chan Kwok-ki today attended the Global Free Trade Ports Development Forum at the Boao Forum for Asia Annual Conference 2024 in Hainan, and exchanged views with Hainan Governor Liu Xiaoming and leaders from overseas.

At the ports development forum, Mr Chan stressed that Hong Kong is a staunch supporter of free trade and has been a prom...

Charitable plan unveiled at summit

27-3-2024

The second edition of the Wealth for Good in Hong Kong Summit concluded today with the launch of "Impact Link", a philanthropic initiative helping family offices and asset owners to make informed decisions on charity projects.

Announcing the Impact Link’s launch during the event's gala dinner, Financial Secretary Paul Chan said it is a charity proj...

Kevin Yeung meets SG official

27-3-2024

Secretary for Culture, Sports & Tourism Kevin Yeung today met Singapore’s Minister for Culture, Community & Youth and Second Minister for Law Edwin Tong,

Mr Yeung briefed Mr Tong on the latest developments in Hong Kong’s cultural and sports policies. They spoke about promoting culture and supporting sports, and explored opportunities for ...

Unwavering support for family offices

26-3-2024

You are the decision-makers and high-profile professionals driving family offices all over the world, coming all the way from different parts of Asia, the Middle East, North America, Europe, and beyond. And you are here these next few days to learn more about Hong Kong. About why Hong Kong is the preeminent choice in which to base your family office. Why H...

Feb exports value down 0.8%

26-3-2024

The value of Hong Kong’s total exports decreased to $284.1 billion in February, down 0.8% on the same month last year, the Census & Statistics Department announced today.

The value of imports of goods fell 1.8% to $325.7 billion for the same period.

A trade deficit of $41.7 billion, or 12.8% of the value of imports, was recorded in Februa...

HK prepares for visitor arrivals

26-3-2024

The Culture, Sports ＆ Tourism Bureau today convened a meeting to co-ordinate preparations for visitor arrivals to Hong Kong during the Mainland's Labour Day Golden Week from May 1 to 5.

The meeting was hosted by Secretary for Culture, Sports ＆ Tourism Kevin Yeung, with representatives from the Customs & Excise Department, Police, the Immigrat...

HK backs sustainability reporting: CE

25-3-2024

It is a great pleasure to be here, to have this welcome opportunity to speak to you, at the opening of the One Earth Summit.

The theme of this global gathering, “Planetary Crossroads: Investing in Innovations for a Sustainable Future”, highlights the importance of the challenges we face. For each and every one of us, for our families, companies a...

Sustainability disclosure vision set

25-3-2024

The Government today issued a vision statement on developing Hong Kong’s sustainability disclosure ecosystem.
 

Secretary for Financial Services & the Treasury Christopher Hui said accurate information is an essential element in facilitating green and sustainable financial services.
 

The vision statement clearly indicates...

Govt condemns biased US remarks

23-3-2024

The Security Bureau today strongly condemned the unfounded and biased remarks made by US Secretary of State Antony Blinken, which deliberately misled the public and smeared the Safeguarding National Security Ordinance.

The bureau issued a statement to set the record straight, adding that it is incontrovertible that safeguarding national security will...

HK ranks 4th in global finance index

21-3-2024

Hong Kong maintained fourth place in the Global Financial Centres Index 35 Report published today by the UK's Z/Yen and the China Development Institute from Shenzhen.

The Government said under the “one country, two systems” principle, Hong Kong enjoys the unique advantages of being backed by the motherland and connected to the world.

Hong K...

20 building plans approved in Jan

21-3-2024

The Buildings Department approved 20 building plans in January - eight on Hong Kong Island, seven in Kowloon and five in the New Territories.

Of the approved plans, 13 were for apartment and apartment-commercial developments, four were for commercial developments, and three were for community services development.

Consent was given for works to...

Feb sees 2.1% inflation

21-3-2024

Overall consumer prices rose 2.1% in February year-on-year, larger than the increase registered in January, the Census & Statistics Department announced today.

Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.2%, also higher than January.

As the Lunar New Year fell in February this y...

FS welcomes strategic enterprises

20-3-2024

Allow me to congratulate you on choosing Hong Kong to expand your business in this region. Whether you are setting up a global R&D (research and development) centre or regional headquarters, rolling out new trade, or developing Web3 payment services or production facilities for green and low-carbon construction technologies, Hong Kong is where you...

25 strategic enterprises come to HK

20-3-2024

The Office for Attracting Strategic Enterprises (OASES) today held the OASES Partnership Signing Ceremony and welcomed a new batch of strategic enterprises to set up or expand their businesses in Hong Kong.

At the ceremony witnessed by Chief Executive John Lee and Financial Secretary Paul Chan, 25 strategic enterprises signed agreements to bec...

Study shows HK a wealth hub: Govt

18-3-2024

A Deloitte market study commissioned by Invest Hong Kong estimates that the city has more than 2,700 single-family offices. 

The study predicts that with Invest Hong Kong’s support and favourable policy measures from the Government, Hong Kong will rise to become the world’s premier centre for family offices.

Invest Hong Kong sai...

CS chairs human resources meeting

18-3-2024

Chief Secretary Chan Kwok-ki today chaired the third meeting of the third-term Human Resources Planning Commission.

Representatives of Hong Kong Talent Engage (HKTE) and the Office for Attracting Strategic Enterprises (OASES) briefed members on their achievements in trawling for talent, enterprises and investment as well as their work plans, and exch...

City I&T challenge launched

16-3-2024

The second City I&T Grand Challenge was launched today, inviting all sectors of the community to put forward innovative solutions from April 5 to May 16 to enhance the experience of nature and create a caring society in Hong Kong.

Organised by the Innovation & Technology (I&T) Commission, the competition aims to promote an I&T ...

AI contest winners commended

15-3-2024

The award presentation ceremony for the "Innovative Application with AI" Innovation Competition was held today.

The "Improving communications through generative sign language" project won the grand award, while the "AI Environmental Air Nuisance Investigation Robot Dog" project was first runner-up and the "Mass Deployment of Semantic Modelling using ...

New valuation list and rent roll ready

15-3-2024

The 2024-25 Valuation List & Government Rent Roll will be available for inspection from March 18 to May 31.

They list and roll can be inspected at the Rating & Valuation Department, located at the Cheung Sha Wan Government Offices, 15/F, 303 Cheung Sha Wan Road, Kowloon. They are also available online.

Objections to the new ratea...

Art@Harbour 2024 to start Mar 25

13-3-2024

The large-scale outdoor art project “Art@Harbour 2024” will be launched on March 25, bringing a new inspirational and sensory experience at the Victoria harbourfront through outdoor art installations and digital art facades.

Featuring the integration of art, science, and technology, the art programme will showcase five projects on both sid...

Entrant scheme response positive

13-3-2024

Following the fruitful result of the inaugural Wealth for Good in Hong Kong Summit in March last year, the second Summit is set to return on the 27th of this month. This exclusive event is part of the Financial Mega Event Week in March, designed to gather asset owners and family office managers around the globe, highlighting Hong Kong’s unique strengths ...

Treasury Building officially opens

12-3-2024

Financial Secretary Paul Chan opened the Treasury Building today, marking the official commissioning of the new office building.

Located at 3 Tonkin Street West in Cheung Sha Wan, the Treasury Building is close to MTR Cheung Sha Wan and Nam Cheong stations and served by bus and minibus services nearby.

While the 22-storey building is the headqu...

Cargo clearance scheme launched

8-3-2024

Secretary for Commerce & Economic Development Algernon Yau today officiated at the launch ceremony of a scheme that aims to avoid duplication of inspections by customs authorities in Guangdong, Hong Kong and Macau.

The first batch of transshipment cargo was successfully delivered to the Macau clearance point today from the DHL Central Asia Hub (C...

CE celebrates Women’s Day

8-3-2024

Chief Executive John Lee and his wife Janet Lee officiated at a reception held by the Home & Youth Affairs Bureau and Women’s Commission (WoC) to celebrate International Women’s Day 2024 today.

It was attended by WoC members, and representatives from women’s groups, non-governmental organisations and the local community.

Addressing th...

Mega events group meets

8-3-2024

Deputy Financial Secretary Michael Wong today hosted a Mega Events Coordination Group meeting on enhancing the publicity of major events and the efforts in promoting mega events in the city.

Chaired by Mr Wong, with Secretary for Culture, Sports & Tourism Kevin Yeung as deputy, the group aims to strengthen co-ordination of major events and promot...

FS reviews fire services recruits

8-3-2024

Financial Secretary Paul Chan today reviewed the Fire Services passing-out parade for 10 station officers, 99 firemen and 33 ambulancemen at the Fire & Ambulance Services Academy.

Speaking at the parade, in addition to commending members of the Fire Services Department for their dedicated efforts in protecting Hong Kong and saving people's li...

Tech chief visits Abu Dhabi

7-3-2024

Secretary for Innovation, Technology & Industry Prof Sun Dong and a delegation from the innovation and technology (I&T) industry began their visit to Abu Dhabi, the United Arab Emirates.

Their morning schedule included a tour of Masdar City, which is a business and research and development hub with a comprehensive ecosystem that drives innova...

Financial mega events set

7-3-2024

The Government today announced that Financial Mega Event Week will be held in the last week of March, with a series of top-tier international conferences and exhibitions to take place in the city.

The event will feature three world-class financial summits - the Wealth for Good in Hong Kong Summit (WGHK) on March 27, the inaugural One Earth Summit sch...

Sun Dong visits UAE

7-3-2024

Secretary for Innovation, Technology & Industry Prof Sun Dong today continued a visit to Dubai, the United Arab Emirates (UAE), with a delegation of representatives from the innovation and technology (I&T) industry.
 

Prof Sun and the delegation attended a business lunch, hosted by the Hong Kong Economic & Trade Office in Dubai, w...

1823 service boosts efficiency

7-3-2024

The Efficiency Office today said it will actively follow up on the recommendations set out in the Ombudsman's investigative report on the effectiveness of 1823 in handling complaints and enquiries.

Among the 13 recommendations made by the Ombudsman, the office said seven have already been implemented or will be implemented by 1823.

The office a...

MTR chair reappointed

7-3-2024

The Government today announced that the Financial Secretary Incorporated has reappointed Rex Auyeung as Chairman of the board of directors of the Mass Transit Railway Corporation for one and a half years.

The reappointement was made in accordance with the Articles of Association of the MTRC and the Government as the majority shareholder.

Mr Auy...

Tax concessions set

6-3-2024

A bill to implement the one-off tax concessions and two-tiered standard rates regime as proposed in the 2024-25 Budget will be gazetted on March 8 and introduced into the Legislative Council on March 20, the Government announced today.

The Budget has proposed one-off reductions of salaries tax, tax under personal assessment and profits tax for the 20...

FS optimistic about public finance

6-3-2024

Financial Secretary Paul Chan today said he is confident that the Government will achieve fiscal balance in the pace that he set out in the Budget.

Addressing young people’s questions during a live programme on Budget Online@M21, Mr Chan outlined the measures he proposed to reach this goal.

“In order to achieve fiscal balance, we have intro...

Customs’ int’l commitment reaffirmed

6-3-2024

We are celebrating the inauguration of the WCO (World Customs Organization) Regional Dog Training Centre in Hong Kong.

And my congratulations to Hong Kong Customs for its accreditation by the WCO as one of now five Regional Dog Training Centres in the Asia-Pacific region. This status strengthens Hong Kong Customs' collaboration with neighbouring cust...

Sun Dong boosts I&T ties in Riyadh

5-3-2024

A delegation of representatives from the innovation and technology (I&T) industry, led by Secretary for Innovation, Technology & Industry Prof Sun Dong, began day two of their visit in Riyadh yesterday by attending the opening of the LEAP 2024 technology conference.

While delivering a keynote speech at the conference, Prof Sun said Hong Kong,...

Property sales dip 27.5%

4-3-2024

The Land Registry recorded 3,189 sale and purchase agreements for all building units received for registration in February, down 27.5% compared with January and 46.7% lower year-on-year.
 

The total consideration for such agreements in February fell 32.9% from January, to $22.6 billion, while a 48.5% year-on-year decrease was recorded.
&nb...

CE begins Beijing visit

4-3-2024

Chief Executive John Lee arrived in Beijing today, beginning a series of engagements in the nation’s capital.
 

Calling on the Ministry of Finance, Mr Lee met Minister of Finance Lan Fo’an for an exchange of views on various topics, including ways to enhance financial co-operation between the Mainland and Hong Kong.
 

He tha...

Sun Dong begins visit in Saudi Arabia

4-3-2024

Secretary for Innovation, Technology & Industry Prof Sun Dong led a delegation to begin their visit to Riyadh, Saudi Arabia.

Upon their arrival in Riyadh, they visited King Abdulaziz City for Science & Technology and met its President Munir Eldesouki.

The group was briefed on the tech city's innovative projects and solutions for researc...

HK, Bahrain tax pact signed

4-3-2024

Hong Kong yesterday signed a comprehensive avoidance of double taxation agreement (CDTA) with Bahrain.

Under the pact, Hong Kong companies can enjoy double taxation relief in that any tax paid in Bahrain, whether directly or by deduction, in accordance with the CDTA will be allowed as a credit against the tax payable in Hong Kong in respect of the sa...

HK, Bahrain sign investment pact

3-3-2024

The Hong Kong Special Administrative Region and Bahrain today entered into an investment promotion and protection agreement (IPPA) in Manama, Bahrain, with a view to enhancing investors’ confidence, expanding investment flows and strengthening economic and trade ties.

Secretary for Commerce & Economic Development Algernon Yau, on his visit to M...

Tech chief to visit Middle East

2-3-2024

Secretary for Innovation, Technology & Industry Prof Sun Dong will lead a delegation of representatives from the innovation and technology (I&T) sector on a visit to Saudi Arabia and the United Arab Emirates on March 3, with a view to strengthening Hong Kong’s I&T co-operation with the two countries.

Prof Sun will visit Riyadh, Saudi Ar...

Pyrotechnic shows to entice tourists

1-3-2024

(To watch the full press conference with sign language interpretation, click here.)

Secretary for Culture, Sports & Tourism Kevin Yeung said monthly pyrotechnic and drone shows held against the backdrop of Victoria Harbour, as proposed in the 2024-25 Budget, will enrich tourists’ travel experience in Hong Kong.

Mr Yeung made t...

FS takes calls on radio programme

1-3-2024

Financial Secretary Paul Chan this morning spoke about the Government’s fiscal consolidation strategy, the removal of residential property sector cooling measures and more as he answered questions from the public about the 2024-25 Budget on a radio phone-in programme.

Besides giving answers on Hong Kong’s overall fiscal position and the decision ...

Jan retail sales up 0.9%

1-3-2024

The value of total retail sales in January, provisionally estimated at $36.5 billion, rose 0.9% compared with the same month in 2023, the Census & Statistics Department announced today.

After netting out the effect of price changes over the same period, the provisional estimate represents a 1.2% year-on-year decrease.

Of the total retail sa...

E-commerce driving world trade

1-3-2024

Secretary for Commerce & Economic Development Algernon Yau attended a session yesterday on e-commerce of the 13th World Trade Organization (WTO) Ministerial Conference in Abu Dhabi, the United Arab Emirates.

During the session, Mr Yau said that e-commerce is rapidly developing and has become a key driving force for global trade and economic growt...

New investment scheme launched

1-3-2024

The new Capital Investment Entrant Scheme is open for application starting today, the Government announced.

It explained that an eligible applicant must make investment of a minimum of $30 million in the permissible investment assets. What’s more, successful applicants may bring their spouses and unmarried dependent children aged under 18 to...

Land sale plan unveiled

29-2-2024

(To watch the full press conference with sign language interpretation, click here.)

The Government today announced its 2024-25 Land Sale Programme which includes eight residential sites involving about 5,690 flats to be put up for sale.

Unveiling the programme at a press conference this afternoon, Secretary for Development Bernadette Lin...

Restoring WTO dispute system urged

29-2-2024

Secretary for Commerce & Economic Development Algernon Yau called on World Trade Organization (WTO) members to support the restoration of a fully functioning dispute settlement system during the 13th WTO Ministerial Conference (MC13) in Abu Dhabi, the United Arab Emirates, yesterday.

At a meeting on dispute settlement reform, Mr Yau said the disp...

Mortgage loans up 15.1%

29-2-2024

The value of residential mortgage loans approved in January was $21.1 billion, a 15.1% rise compared with December 2023, the Monetary Authority announced today.

Mortgage loans financing primary market transactions rose 20.9% to $6.3 billion, while those financing secondary market transactions increased 26.6% to $11.3 billion.

Loans for refinanc...

Bond schemes' borrowing limit is set

29-2-2024

The Government today served notice to the Legislative Council to introduce a resolution under the Loans Ordinance to set a borrowing ceiling of $500 billion, combined, for the Government Green Bond Programme and the Infrastructure Bond Programme (IBP).

Secretary for Financial Services & the Treasury Christopher Hui said the green bond programme i...

Govt determined on islands project

28-2-2024

(To watch the full press conference with sign language interpretation, click here.)

Financial Secretary Paul Chan today said the Government is determined to carry out the reclamation of the Kau Yi Chau Artificial Islands.

At the 2024-25 Budget press conference this afternoon, Mr Chan noted that two of the Government’s mega projects - t...

Govt to build HK brand on all fronts

28-2-2024

Financial Secretary Paul Chan this morning pledged that the Government will build the Hong Kong brand on all fronts.

In his 2024 Budget Speech, Mr Chan outlined commitments to raise the city’s standing as a premier destination for business and tourism through consolidation of its prowess in hosting mega events and thematic annual conferences, bette...

FS unveils cuts to rates and taxes

28-2-2024

In his 2024-25 Budget Speech this morning, Financial Secretary Paul Chan announced measures to provide rates concessions, reduce salaries and profits taxes, and pay an extra allowance to eligible social security recipients.

Mr Chan said the measures had been devised in light of the economic pressures faced by some industries and by people, and of the...

HK’s economic prospects bright: FS

28-2-2024

Financial Secretary Paul Chan said in his Budget speech today that even though Hong Kong’s export performance will be affected by the external environment, the city’s economy will see sustained and solid development in the medium term.

He made the statement while analysing Hong Kong’s economic situation. Pointing out that the city’s economy r...

Govt aims to boost I&T development

28-2-2024

Financial Secretary Paul Chan today spelt out how out how the Government is investing in building a vibrant, international innovation and technology (I&T) ecosystem, and announced the allocation of $3 billion to Cyberport for the launch of an AI Subsidy Scheme aimed at supporting scientific breakthroughs.

In his 2024-25 Budget Speech, Mr Chan sai...

Measures to showcase HK’s appeal

28-2-2024

Apart from putting in place a series of measures to showcase Hong Kong’s appeal to people from around the world, Financial Secretary Paul Chan revealed that the Government will roll out key plans to draw in capital, enterprises and talent.

He shared such plans while unveiling his 2024-25 Budget, explaining that the economic environment has been rat...

$4b+ to boost creative arts branding 

28-2-2024

While delivering his Budget speech, Financial Secretary Paul Chan reported that the Government will earmark $45 million to establish a support centre for patent search and analysis and inject over $4 billion to support film, arts and design projects.

Regional intellectual property trading centre

Mr Chan stressed that the effective protection an...

Govt driven to nurture local talent

28-2-2024

The Government will provide subsidies of up to $300,000 for each publicly-funded primary school in the next two academic years to enhance primary school students’ interests in information technology and its applications, as it strives to nurture local talent in various fronts.

Announcing the initiative in his Budget, Financial Secretary Paul Chan s...

Budget responds to expectations: CE

28-2-2024

Chief Executive John Lee today appealed to all sectors of the community to support the 2024-25 Budget, saying it has responded to the expectations of the public and enterprises while consolidating the momentum of recovery.

In a statement, Mr Lee said amid the uncertain geopolitical situation and economic fluctuations, this Budget - the second one of ...

HK will surely soar far and high: FS

28-2-2024

Mr President, this year will still be fraught with uncertainties. Investment sentiment and capital flows are under the sway of the complicated and volatile external environment.

In the short term, we need to reinforce the momentum of our economic recovery, while in the long run, we have to adjust our economic growth model with enhancements to both �...