Hong Kong Business News
香港商業資訊
News Article List |
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Rosy future for ETF market: FS12-11-2024
The Tracker Fundâs significance extends well beyond its market size and liquidity. It carries a unique historical weight for the Hong Kong financial industry. The creation of the fund was for the orderly and non-disruptive disposal of a substantial portfolio of shares acquired by the Government in a decisive market operation in 1998, amid the Asian fi... |
Meeting on low-altitude economy held12-11-2024
The Working Group on Developing Low-altitude Economy, headed by Deputy Financial Secretary Michael Wong, convened its first meeting today to discuss the overall strategies and work plan for developing a low-altitude economy (LAE). The working group identified four work directions. First, starting from early next year, the Government will take ... |
John Lee to depart for Peru12-11-2024
Chief Executive John Lee will depart for Peru tomorrow to attend the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting and other related activities in Lima. This year, APEC has adopted the theme âEmpower. Include. Growâ, with discussions focused on three priorities that include trade and investment for inclusive and interco... |
17 strategic enterprises come to HK11-11-2024
The Office for Attracting Strategic Enterprises (OASES) today hosted the OASES Partnership Signing Ceremony to welcome a new batch of strategic enterprises to set up or expand their operations in Hong Kong. At the ceremony witnessed by Financial Secretary Paul Chan, 17 strategic enterprises signed agreements to become strategic enterprise part... |
Sun Dong visits Xi'an11-11-2024
Secretary for Innovation, Technology & Industry Prof Sun Dong, and a delegation he led, began his visit to Xiâan today. He exchanged views on the development of innovation and technology (I&T) in Hong Kong and Shaanxi when he called on CPC Shaanxi Provincial Committee Secretary Zhao Yide and shared the Hong Kong Special Administrative Re... |
Sun Dong headed to Xiâan10-11-2024
Secretary for Innovation, Technology & Industry Prof Sun Dong will lead a Hong Kong delegation to Xi'an tomorrow for the 18th meeting of the Mainland/Hong Kong Science & Technology Co-operation Committee. The committee is tasked with organising and co-ordinating technological exchange and co-operation between the Mainland and Hong Kong. |
Meeting on tourist hotspots held8-11-2024
The Working Group on Developing Tourist Hotspots, led by Deputy Chief Secretary Cheuk Wing-hing, held its first meeting today to discuss how to identify and develop tourist hotspots of high popularity and with strong appeal in various districts. Hong Kong is a cosmopolitan city endowed with a wealth of tourism resources, including cuisines, district... |
SFST concludes Swiss visit8-11-2024
Secretary for Financial Services & the Treasury Christopher Hui met Swiss financial officials and top management of the International Institute for Management Development (IMD) in Bern and Lausanne, respectively, on the last day of his visit in Switzerland. On Thursday morning, Mr Hui met State Secretary for International Finance at the Swiss Fed... |
Financial reporting body chair named8-11-2024
The Government announced today that the Chief Executive has, pursuant to the Accounting & Financial Reporting Council Ordinance, appointed David Sun as Chairman of the Accounting & Financial Reporting Council (AFRC) for two years starting January 1, 2025. Mr Sun was Director of Audit between 2012 and 2018, prior to which he was President of t... |
Base rate lowered to 5%8-11-2024
The Monetary Authority announced today that it has decreased the base rate to 5% with immediate effect. The decrease, according to a pre-set formula, follows a 25-basis point downward adjustment in the target range for the US federal funds rate on November 7. The base rate is the interest rate forming the foundation upon which the Discount Rate... |
Sun Dong visits research institution7-11-2024
Secretary for Innovation, Technology & Industry Prof Sun Dong yesterday visited the University of Waterloo, in Canada, to learn about its work in transforming research outcomes into viable applications. A research-intensive institution, the University of Waterloo ranked 21st in computer science and information systems, and 40th in engineering and... |
SFST attends UN expertsâ session7-11-2024
Secretary for Financial Services & the Treasury Christopher Hui attended the 41st session of the Intergovernmental Working Group of Experts on International Standards of Accounting & Reporting (ISAR) organised by the UN Conference on Trade & Development in Geneva yesterday. At the meeting, Mr Hui elaborated on Hong Kong's efforts in build... |
Silver economy meeting held7-11-2024
Deputy Chief Secretary Cheuk Wing-hing today chaired the first meeting of the âWorking Group on Promoting Silver Economyâ to commence co-ordination of relevant bureausâ work plans. The Chief Executive announced in the 2024 Policy Address that a working group, chaired by the Deputy Chief Secretary, would be set up and would commence wor... |
HKâs advantages promoted in Ottawa6-11-2024
Continuing a visit to Canada, Secretary for Innovation, Technology & Industry Prof Sun Dong delivered a keynote speech at a Seminar on Life Science & Global Health, held at the Parliament Building in Ottawa. Prof Sun said that while Canada is a long-recognised powerhouse in the field of life and health science, Hong Kong is emerging as an int... |
CE meets Shanghai leaders6-11-2024
Chief Executive John Lee today met Shanghai leaders and exchanged views with representatives from enterprises as well as talent who have newly settled in Hong Kong. Continuing his visit to Shanghai with a Hong Kong Special Administrative Region Government delegation, Mr Lee spoke to the enterprises and talent about their development and daily lives.<... |
HK participates in import expo5-11-2024
The seventh China International Import Expo (CIIE) is being held from today to November 10 at the National Exhibition & Convention Center in Shanghai. Over 300 Hong Kong enterprises are participating in this year's CIIE to promote quality Hong Kong products and services, representing almost one-tenth of the total number of exhibitors at the Enter... |
Sun Dong begins Canada visit5-11-2024
Secretary for Innovation, Technology & Industry Prof Sun Dong began his visit to Toronto, Canada, by touring an innovation hub, the University of Toronto and a startup. In the morning of November 4, Prof Sun visited MaRS Discovery District and met its Chief Executive Officer Alison Nankivell to receive a briefing on the innovation hub's successfu... |
SFST promotes HK in Zurich5-11-2024
Secretary for Financial Services & the Treasury Christopher Hui yesterday began a visit to Switzerland, where he is promoting Hong Kong's status as an international centre for asset, wealth and risk management. In Zurich, Mr Hui met Swiss Re Groupâs Chief Executive Officer, Corporate Solutions Ivan Gonzalez, and Chairman of the Board of Zuri... |
Public R&D centres merger proposed5-11-2024
To implement the development plans set out in the Hong Kong Innovation & Technology Development Blueprint, the Government has proposed to merge the two research and development (R&D) centres - the Hong Kong Applied Science & Technology Research Institute (ASTRI) and the Nano & Advanced Materials Institute (NAMI). Secretary for Innovat... |
SFST headed to Switzerland3-11-2024
Secretary for Financial Services & the Treasury Christopher Hui will depart on a visit to Switzerland today, and will return to Hong Kong on Friday. In Geneva, Mr Hui will attend and speak at the 41st session of the Intergovernmental Working Group of Experts on International Standards of Accounting & Reporting, organised by the UN Conference ... |
Sun Dong to visit Canada3-11-2024
Secretary for Innovation, Technology & Industry Prof Sun Dong will depart today on a visit to Canada, where he will stop in Toronto, Ottawa and Waterloo and seek to strengthen co-operation between Hong Kong and Canada in areas such as innovation and technology (I&T). Prof Sun will meet leaders of I&T enterprises in the country, and engage... |
CS sends off polar expedition team1-11-2024
Chief Secretary Chan Kwok-ki attended the send-off event of China's 41st Antarctic expedition team at the Guangzhou Nansha International Cruise Home Port this morning. The expedition team is travelling to Antarctica aboard the icebreakers Xuelong and Xuelong 2, which have visited Hong Kong before. Among the team members, six scientists were sel... |
Wealth scheme brokers set1-11-2024
The China Securities Regulatory Commission and the Securities & Futures Commission of Hong Kong issued announcements respectively today on the first batch of brokers eligible to participate in the Guangdong-Hong Kong-Macao Greater Bay Area Cross-boundary Wealth Management Connect Pilot Scheme. The Hong Kong Special Administrative Region Governmen... |
Talent and migration plans refined1-11-2024
The Government today launched three measures to enhance the Top Talent Pass Scheme (TTPS) and the Quality Migrant Admission Scheme (QMAS), following the announcement of reforms to the talent admission regime in the 2024 Policy Address. The first measure calls for expanding the list of eligible universities under the TTPS. Thirteen top Mainland... |
HK to host Olympics body meeting1-11-2024
The 2024 General Assembly of the Association of National Olympic Committees (ANOC) announced yesterday the successful bid of Hong Kong, China to host the 2026 ANOC General Assembly. The ANOC comprises 206 National Olympic Committees (NOCs) and is responsible for protecting and advancing the interests of the world's NOCs and supporting their mission o... |
GBA data flow measure extended1-11-2024
The extension of the facilitation measure on the Standard Contract for the Cross-boundary Flow of Personal Information Within the Guangdong-Hong Kong-Macao Greater Bay Area (Mainland, Hong Kong) to all sectors started today. The Digital Policy Office (DPO) made the announcement and explained that the move, announced in the 2024 Policy Address, is aim... |
Sep retail sales drop 6.9%1-11-2024
The value of total retail sales in September, provisionally estimated at $29.6 billion, decreased 6.9% 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 8.7% low... |
FS concludes Riyadh trip1-11-2024
Financial Secretary Paul Chan completed the final day of his visit in Riyadh, Saudi Arabia, yesterday by participating in several events at the Future Investment Initiative (FII) with his delegation. Speaking at a themed session at the conference, Mr Chan highlighted that Hong Kong is actively developing as an international centre for green tech and ... |
FS explores opportunities in Riyadh31-10-2024
Financial Secretary Paul Chan, currently leading a delegation on a visit to Riyadh, Saudi Arabia, yesterday attended the listing ceremony for the first Saudi exchange-traded fund (ETF) that tracks Hong Kong stocks on the Saudi stock exchange. The fund is the result of collaboration between Albilad Bank of Saudi Arabia and Hong Kongâs CSOP Asset ... |
Mortgage loans down 20.6%31-10-2024
The value of residential mortgage loans approved in September was $17.3 billion, a 20.6% drop compared with August, the Monetary Authority announced today. Mortgage loans financing primary market transactions dropped 27.2% to $5.6 billion, while those financing secondary market transactions decreased 15.4% to $10 billion. Loans for refinancing ... |
Economy grows 1.8% in Q331-10-2024
Hong Kongâs economy grew 1.8% in the third quarter of 2024 over the same period a year earlier, down from a 3.2% increase in the second quarter, the Census & Statistics Department announced today. According to the advance estimates, gross domestic product (GDP) decreased by 1.1% in real terms in the third quarter of this year on a seasonally... |
FS visits Saudi Arabia30-10-2024
Financial Secretary Paul Chan led a delegation from the financial and innovation sectors on a visit to Saudi Arabia and attended the Future Investment Initiative in Riyadh. While participating in a panel discussion during the conference, Mr Chan stated that Hong Kong is actively promoting the development of green finance and green technology. H... |
US tech investment curbs rejected29-10-2024
The Hong Kong Special Administrative Region Government today rejected a US measure restricting investment in China, including the Hong Kong SAR, on semiconductors and microelectronics, quantum information technologies, and artificial intelligence systems. In a statement this evening, the Hong Kong SAR Government expressed strong objection to the US f... |
Economic, trade policies explained29-10-2024
Secretary for Commerce & Economic Development Algernon Yau today briefed members of the Trade & Industry Advisory Board on major initiatives related to economic and trade developments in the 2024 Policy Address. Mr Yau said that the Policy Address announced a series of initiatives, including a reduction of the duty rate for liquor, to create ... |
CE to attend Shanghai expo29-10-2024
Chief Executive John Lee will lead a Hong Kong Special Administrative Region Government delegation to visit Shanghai on November 4 and attend the seventh China International Import Expo (CIIE). |
Expo seeks to boost SMEs' growth29-10-2024
A fair aimed at helping small and medium-sized enterprises (SMEs) to undertake digital transformation is being held today and tomorrow. Held annually, âSME ReachOut: FUND Fair plus Tech Sourcing 2024â is organised by the Productivity Councilâs SME ReachOut and supported by the Trade & Industry Department. It provides ... |
Blockchain, AI shaping fintech: FS28-10-2024
Hong Kong is emerging fast as one of the most attractive global fintech hubs. In the first half of this year, among the top 10 fintech deals in the Asia-Pacific region, three were in the Mainland and two in Hong Kong. That means, ladies and gentlemen, you are in the right spot to search for the fintech opportunities that lie ahead. |
FinTech Week starts28-10-2024
Hong Kong FinTech Week 2024 opened today with its co-organiser, the Monetary Authority (HKMA), outlining a series of initiatives to spearhead fintech development in Hong Kong.
On asset tokenisation, the HKMA has completed the initial phase of six tokenisat... |
Proper use of AI necessary: Govt28-10-2024
The Government today issued a policy statement on the responsible application of artificial intelligence (AI) in the financial market, in which security-related issues will be duly considered in the adoption of AI in the financial services industry. Noting that the application of AI in the financial services sector has three key attributes, na... |
FS bound for Saudi Arabia27-10-2024
Financial Secretary Paul Chan will lead a 110-strong delegation to Riyadh, Saudi Arabia, tomorrow to strengthen Hong Kong-Middle East connections in areas such as trade, finance, and innovation and technology (I&T). The delegation will aim to promote Hong Kong on multiple fronts, tell good stories about Hong Kong, and explore business opportuniti... |
Sports chief to visit Portugal27-10-2024
Secretary for Culture, Sports & Tourism Kevin Yeung will depart for Portugal tomorrow, along with a delegation from the Sports Federation & Olympic Committee of Hong Kong, China, to attend the 2024 General Assembly of the Association of the National Olympic Committees (ANOC). Mr Yeung will take the opportunity to pursue a bid to host the 2026... |
HK a dynamic fintech hub25-10-2024
The Government is committed to promoting fintech development in Hong Kong, to enhance the competitiveness of its financial services industry and accelerate digitalisation. To support the Governmentâs strategy, Invest Hong Kong actively assists enterprises in the sector in setting up or expanding their business in Hong Kong. In the first e... |
InnoCarnival 2024 opens26-10-2024
Financial Secretary Paul Chan today officiated at the opening ceremony of the InnoCarnival 2024, which is being held from now until November 3 at the Hong Kong Science Park. Organised by the Innovation & Technology Commission (ITC), the event features exhibits showcasing local innovation and technology (I&T) achievements under the them... |
Asset management task force set up25-10-2024
The Task Force on Promoting the Development of Asset & Wealth Management, chaired by Secretary for Financial Services & the Treasury Christopher Hui, was established and convened its first meeting today. The 2024 Policy Address has set out the need to further enhance Hong Kong's status as an international asset and wealth management (WAM) cen... |
FS concludes US visit25-10-2024
Financial Secretary Paul Chan wrapped up his visit in New York yesterday by meeting representatives from several family offices and touring a technology accelerator and venture capital platform. In the morning, Mr Chan held a breakfast meeting with representatives from several family offices, introducing Hong Kong's unique advantages as a global lead... |
Updated IT rules explained23-10-2024
The latest version of the Governmentâs IT Security Guidelines aims to strengthen the security barrier of its internal information network system and does not involve a âblanket banâ on the use of relevant communication tools, the Digital Policy Office has said. The office made a statement in response to media enquiries concerning the u... |
FS promotes HK's advantages in US24-10-2024
Financial Secretary Paul Chan delivered a speech and held discussions with President of the National Committee on United States-China Relations Steve Orlins as he continued a visit to New York, the US. Mr Chan gave his speech at a lunch co-hosted by the Hong Kong Economic & Trade Office in New York and the Hong Kong Association of New York and at... |
Passage of rating bill welcomed23-10-2024
The Government welcomed the passage of the Rating (Amendment) Bill 2024 by the Legislative Council today, which gives effect to the progressive rating system for domestic tenements. The bill will take effect from the fourth quarter of this financial year, ie January to March 2025, to uphold the âaffordable users payâ principle. Starti... |
FS begins New York visit23-10-2024
Financial Secretary Paul Chan has begun a visit to New York by delivering a keynote speech at the Bloomberg Global Regulatory Forum on the theme of how to build a future-proof financial system. Mr Chan outlined that despite facing various challenges in recent years, Hong Kongâs economic and financial fundamentals remain strong and resilient. ... |
FS speaks at APEC meeting22-10-2024
Financial Secretary Paul Chan spoke on various topics while attending day two of the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting (FMM) and related activities in Peru yesterday. The topics included global and regional economic and financial outlooks, sustainable finance, sustainable infrastructure, digital finance, and enhancin... |
September sees 2.2% inflation22-10-2024
Overall consumer prices rose 2.2% year-on-year in September, a smaller rate of increase than the 2.5% seen in August, the Census & Statistics Department announced today. Netting out the effects of the Governmentâs one-off relief measures, underlying inflation was 0.9%, also smaller than that recorded in August. Compared with Sept... |
SFC report welcomed22-10-2024
The Government today welcomed the publication of the annual report by the Process Review Panel for the Securities & Futures Commission (SFC), covering the panelâs work in 2023-24. The Financial Services & the Treasury Bureau said the panel had conducted a thorough review of the SFCâs internal processes and procedures. I... |
Silver Bond allocations announced21-10-2024
The subscription and allocation results for the latest batch of Silver Bonds were released today. A total of 300,413 valid applications, seeking a total of $69.9 billion in bond principals, were received. More than half of the applications, 166,177, were for 23 units or fewer. These applicants will be allocated the full number of units applied ... |
FS attends APEC meeting in Peru21-10-2024
Financial Secretary Paul Chan began his visit in Lima, Peru, to attend the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting and related activities. Yesterday morning, he attended the Finance Ministers' Retreat, a meeting focused on discussing the fiscal policies of economies and several specific topics, including tax administration... |
FS to visit Peru and the US18-10-2024
Financial Secretary Paul Chan will depart for Peru this evening to attend the Asia-Pacific Economic Cooperation (APEC) Finance Ministersâ Meeting and other related events in the country's capital Lima, before heading to New York City in the US. Under the banner âSustainable + Digital + Resilient = APECâ, this yearâs finance minist... |
More measures to support SMEs18-10-2024
The Monetary Authority (HKMA), together with the banking sector, introduced multiple measures today to further support, through financing as well as banking products and services, the continuous development of small and medium-sized enterprises (SMEs). The HKMA said around 20,000 SMEs have benefitted from the nine measures that it launched with the B... |
Christopher Hui to visit Beijing18-10-2024
Secretary for Financial Services & the Treasury Christopher Hui will depart for Beijing tomorrow to attend the Annual Conference of the Financial Street Forum 2024, before returning to Hong Kong the following day. More than 500 guests from over 30 countries and regions worldwide will take part in the conference, which is being held from today unt... |
Mortgage loan measure explained17-10-2024
Financial Secretary Paul Chan today said he is confident that the Governmentâs adjustment of the maximum loan-to-value ratio for all properties to 70% will be conducive to the healthy and stable development of the Hong Kong property market. Elaborating on the measure, announced in yesterdayâs Policy Address, at a press conference today, Mr ... |
HK hones its financial edge16-10-2024
Chief Executive John Lee unveiled bold plans in his 2024 Policy Address for consolidating and enhancing Hong Kongâs status as an international financial centre. Upon highlighting the fact that Hong Kong is an international financial centre, ranking third globally and first in investment environment, he stated that the Government will continue wi... |
I&T will drive cityâs development: CE16-10-2024
Delivering his 2024 Policy Address, Chief Executive John Lee said today that Hong Kong must harness new quality productive forces and technological innovation as it seeks to achieve high-quality economic development. Mr Lee outlined that in its efforts to become an international centre for innovation and technology (I&T), the city is upgrading an... |
Govt to launch committee for talent16-10-2024
Chief Executive John Lee today revealed that the Government will set up a Committee on Education, Technology & Talents to promote Hong Kong as an international hub for high-calibre talent. Unveiling a raft of measures aimed at building the cityâs capacity in terms of knowledge, talent and opportunities, Mr Lee said in his 2024 Policy Address... |
Metropolis project to be expedited16-10-2024
Chief Executive John Lee says the Government will expedite the implementation of economic and housing-related projects in the Northern Metropolis while maintaining a prudent fiscal position, highlighting that some 60,000 housing units will be completed in the next five years. Unveiling his third Policy Address today, Mr Lee said the Government i... |
HK ranked world's freest economy16-10-2024
The Fraser Institute's Economic Freedom of the World 2024 Annual Report published today has ranked Hong Kong as the world's freest economy among 165 economies, up by one place from 2023. Among the five areas of assessment in the report, the city ranked top in "Freedom to trade internationally" and "Regulation", while its ranking in "Sound money" rose... |
New SFC chairman appointed14-10-2024
The Chief Executive has, pursuant to the Securities & Futures Ordinance, appointed Kelvin Wong as Chairman of the Securities & Futures Commission (SFC) for a term of three years from October 20, 2024, to October 19, 2027, the Government today announced. Mr Wong was a non-executive director of the SFC from 2012 to 2018 and a Stock Exchange Lis... |
New trade in services pact signed9-10-2024
The Hong Kong Special Administrative Region Government and the Ministry of Commerce today signed the Second Agreement Concerning Amendment to the Mainland & Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services (Amendment Agreement II). Chief Executive John Lee witnessed the signing of the new agreeme... |
Family office collaboration unveiled9-10-2024
The Financial Services & the Treasury Bureau today announced the establishment of the Hong Kong Family Office Nexus, a strategic collaboration between the bureau and Bloomberg L.P. The partnership is aimed at attracting family offices from around the world to establish or expand their presence in Hong Kong, and at reinforcing the cityâs stat... |
FinTech Week to kick off on Oct 288-10-2024
The ninth edition of Hong Kong FinTech Week (HKFW), themed âIlluminating New Pathways in Fintechâ will take place from October 28 to November 1, Invest Hong Kong (InvestHK) announced today. HKFW 2024 will place a significant emphasis on cutting-edge technologies such as artificial intelligence (AI), it added. The event i... |
AI subsidy scheme opens7-10-2024
The Government launched the Artificial Intelligence Subsidy Scheme and began accepting applications today. Eligible organisations are welcome to submit applications to Cyberport. A hybrid information session will be held on October 10. To promote the development of an artificial intelligence (AI) ecosystem in Hong Kong, the 2024-25 Budge... |
3 pre-sale consents issued in Q37-10-2024
The Lands Department announced today that it issued three pre-sale consents for residential developments involving 213 units in the third quarter of this year. Such pre-sale consents were issued for three residential developments. Two of the developments are expected to be completed this year. One is located in Tai Po and involves 135 units, wh... |
Telling good stories through stamps4-10-2024
A rich treasure trove of postal artefacts can be found on the first floor of the Hongkong Post Building in Kowloon Bay. The new Postal Gallery spans approximately 200 sq m, a quarter larger than the previous 160 sq m gallery at the General Post Office in Central. âUnlike the open display of the old gallery, the new layout resembles a muse... |
InnoCarnival showcase set4-10-2024
The Innovation & Technology Commission will hold InnoCarnival 2024 from October 26 to November 3 to showcase local innovation and technology (I&T) achievements. A diverse line-up of about 150 workshops and webinars across various subjects will also be available during the carnival. Themed âLetâs Sail with Innovation & Tec... |
HK a top place to do business3-10-2024
Hong Kong is among the top 10 performers of 50 economies covered in the first Business Ready 2024 Report published by the World Bank Group (WBG) today, the Government said today. In a statement, the Government said the WBG Report has given recognition to Hong Kong as an international trading centre with simple and clear regulations in business... |
August retail sales dip 10.1%3-10-2024
The value of total retail sales in August, provisionally estimated at $29.2 billion, decreased 10.1% 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 11.8% lowe... |
Fintech measures discussed3-10-2024
Secretary for Financial Services & the Treasury Christopher Hui today chaired the fourth meeting of the Coordination Group on Implementation of Fintech Initiatives. During the meeting, he held discussions with representatives from the financial regulators, the fintech sector, academia and research institutions on the latest developments in Hong K... |
Performing arts scheme launched2-10-2024
The Government announced today the launch of the Signature Performing Arts Programme Scheme for selecting performing arts productions with potential and nurturing them to become representative and large-scale local productions for long-running performances.
Each selected programme under the scheme will recei... |
Mortgage loans down 12.2%30-9-2024
The value of residential mortgage loans approved in July was $ 21.8 billion, a 12.2% drop compared with July, the Monetary Authority announced today. Mortgage loans financing primary market transactions dropped 11.7% to $7.6 billion, while those financing secondary market transactions decreased 13.7% to $11.8 billion. Loans for refinancing surg... |
Financial services growing apace19-9-2024
Associate Director-General of Investment Promotion Charles Ng says Hong Kongâs financial services sector is currently undergoing accelerated growth, thanks to the ongoing recovery seen in the cityâs overall economy, as well as favourable government policies. In the first eight months of this year, Invest Hong Kong (InvestHK) assisted 40 com... |
FS speaks to UK business sector28-9-2024
Financial Secretary Paul Chan spoke to the UKâs political and business communities to promote Hong Kong as he attended a roundtable meeting and a luncheon in London on the final leg of his visit. Mr Chan joined a roundtable meeting organised by The CityUK, an industry-led body representing UK-based financial services, for in-depth discussions wi... |
SIM card registration enhanced27-9-2024
The Office of the Communications Authority (OFCA) today announced that starting October 1, Hong Kong identity (HKID) card holders completing real-name registration for pre-paid SIM (PPS) cards via telecommunications service providers' online registration platforms can by default register and verify their identities through the iAM Smart mobile appli... |
FS begins UK visit27-9-2024
Financial Secretary Paul Chan began his visit to London yesterday where he attended the annual "Hong Kong Dinner" engagement to share the latest developments in Hong Kong with participants. |
Belt-Road tax forum ends26-9-2024
The 5th Belt & Road Initiative Tax Administration Cooperation Forum (BRITACOF) hosted by the Inland Revenue Department concluded successfully today. This three-day annual mega event in the international tax community attracted about 500 tax officials, tax experts, as well as representatives from international organisations, academic instit... |
Exports up 6.4% in August26-9-2024
The value of Hong Kong's total exports increased to $381.3 billion in August, up 6.4% on the same month last year, the Census & Statistics Department announced today. The value of the city's imports rose 7.9% to $414.4 billion in the same period. A trade deficit of $33.1 billion, or 8% of the value of imports, was recorded for the month. |
FS wraps up Spain trip25-9-2024
Financial Secretary Paul Chan today wrapped up his visit to Spain by attending an exchange session organised by the IESE Business School in Madrid. Leading a delegation of technology startups, Mr Chan met more than 10 Spanish startup entrepreneurs, representatives of venture capital funds, investors and business matching enterprises. As one of ... |
Sun Dong attends automotive summit25-9-2024
Secretary for Innovation, Technology & Industry Prof Sun Dong attended automotive supply chain meetings in Wuhan, Hubei Province today. In the morning, Prof Sun attended the 2024 China Automotive Supply Chain Conference & the Third China Intelligent Networked New Energy Vehicle Ecological Conference organised by the China Association of Autom... |
FS meets Spanish business leaders25-9-2024
Continuing his visit to Madrid, Spain, Financial Secretary Paul Chan yesterday spoke at a business lunch, met Spanish officials and visited local enterprises. Delivering a keynote speech at a lunch with about 150 leaders from Spainâs business, financial, and innovation and technology sectors, Mr Chan stressed that Hong Kong has restored its glob... |
Communication proposals get support25-9-2024
The Financial Services & the Treasury Bureau today published the consultation conclusions on promoting paperless corporate communication for Hong Kong companies, outlining the views received during the consultation, along with the Government's response and the way forward. The public consultation was conducted from November 27, 2023, to Ja... |
HK, Türkiye enter into tax pact24-9-2024
Hong Kong today signed a comprehensive avoidance of double taxation agreement (CDTA) with Türkiye. Signing the agreement on behalf of the Hong Kong Special Administrative Region Government, Secretary for Financial Services & the Treasury Christopher Hui said the CDTA will further promote economic and trade relations between Hong Kong an... |
Sun Dong begins Wuhan visit24-9-2024
Secretary for Innovation, Technology & Industry Prof Sun Dong began his visit to Wuhan, Hubei Province today. During a meeting with Hubei Vice Governor Chen Ping on the development of innovation and technology (I&T) and new industries in Hong Kong and Hubei, Prof Sun introduced the Hong Kong Special Administrative Region Government's plan and... |
Belt-Road tax forum held24-9-2024
The three-day 5th Belt & Road Initiative Tax Administration Cooperation Forum (BRITACOF) opened today at the AsiaWorld-Expo, marking the first time for Hong Kong to host the forum. Themed "Deepening Tax Administration Cooperation for High-Quality Belt & Road Development", the forum gathered more than 400 tax officials, tax experts, as ... |
FS promotes HK-Spain ties24-9-2024
Financial Secretary Paul Chan, on a visit to Spain, has called on the Plenary of the City Council of Madrid, a local innovation and technology centre, and a Spanish innovation accelerator and venture capital fund. Mr Chan yesterday met President of Madrid's City Council Plenary Francisco de Borja Fanjul Fernandez-Pita to discuss strengthening co-oper... |
Algernon Yau visits Singapore24-9-2024
Secretary for Commerce & Economic Development Algernon Yau met senior officials and business leaders in Singapore to deepen trade and economic ties, and explore collaboration opportunities during his visit from September 22 to 24. âMr Yau updated representatives from major business chambers of Singapore on Hong Kong's latest developments and... |
HK rises to 3rd in finance hub ranking24-9-2024
Hong Kong has been ranked third in the Global Financial Centres Index 36 Report, published today by the UKâs Z/Yen and the Shenzhen-based China Development Institute, up from fourth place in the March version of the index. The city also ranked first in the Asia-Pacific region. Its overall rating rose by eight points, the largest improv... |
FS begins Spain visit23-9-2024
Financial Secretary Paul Chan arrived in Madrid, Spain yesterday and began his trip by leading a group of Hong Kong tech startups to visit the country's innovation organisation Spain Startup. Mr Chan met Spain Startup President Maria Benjumea and representatives from its partner IE University of Spain. Spain Startup organises the renowned innov... |
Sun Dong to visit Wuhan23-9-2024
Secretary for Innovation, Technology & Industry Prof Sun Dong will depart for a visit to Wuhan in Hubei Province tomorrow morning to learn more about the province's efforts in promoting the development of innovation and technology, and new industrialisation. He will tour advanced manufacturing and microelectronics enterprises as well as key scien... |
FS to visit Spain and UK21-9-2024
Financial Secretary Paul Chan will depart tomorrow for Europe, where he will visit Madrid and London before returning to Hong Kong on September 29. Mr Chan will lead a delegation from the innovation and technology (I&T) sector on the trip. It will comprise senior executives from the Science & Technology Parks (HKSTP) and Cyberport, as well as... |
Golden Week crowd control set20-9-2024
Secretary for Culture, Sports & Tourism Kevin Yeung today chaired an interdepartmental meeting to follow up on the preparation work for the arrival of visitors to Hong Kong during the Mainland's National Day Golden Week. Mr Yeung noted that the Hong Kong Special Administrative Region Government will maintain close liaison with various government ... |
CE attends economic symposium20-9-2024
Chief Executive John Lee, leading a Hong Kong Special Administrative Region delegation, attended the 27th Beijing Hong Kong Economic Cooperation Symposium and the Hong Kong Investment Promotion Conference in Beijing today. Themed âLeveraging mutual strengths, creating prosperity togetherâ, the symposium, which runs until tomorrow at the Zho... |
Inflation at 2.5% in August20-9-2024
Overall consumer prices rose 2.5% year-on-year in August, the same as that in July, the Census & Statistics Department announced today. Netting out the effects of the Governmentâs one-off relief measures, underlying inflation was 1.2%, also unchanged from July. Compared with August last year, price increases were seen in the following ... |
Algernon Yau attends ASEAN session20-9-2024
Secretary for Commerce & Economic Development Algernon Yau and Minister of Industry & Commerce of Laos Malaithong Kommasith co-chaired the eighth Association of Southeast Asian Nations (ASEAN) Economic Ministers - Hong Kong, China (HKC) Consultation in Vientiane today. The session discussed issues relating to the implementation of the ASEAN-H... |
FS calls on Ministry of Finance19-9-2024
Financial Secretary Paul Chan, accompanying the Chief Executive on his visit to Beijing, called on Minister of Finance Lan Foâan today. Mr Chan thanked the Ministry of Finance for its staunch support to Hong Kong in various areas. He then had in-depth exchanges with Mr Lan on the economic and financial situations of the Mainland, Hong Kong and ... |
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(To watch the full media session with sign language interpretation, click here.)
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(To watch the full media session with sign language interpretation, click here.)
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