Hong Kong Business News

Algernon Yau joins KL business forum

21-9-2023

Secretary for Commerce & Economic Development Algernon Yau today promoted Hong Kong's distinctive advantages and favourable business environment under "one country, two systems" to Malaysian startups and investors in Kuala Lumpur, Malaysia.

He attended the China (Shenzhen, Hong Kong) - ASEAN (Kuala Lumpur) Emerging Industries Partnering Conferenc...

HK business promoted in Qatar

21-9-2023

Secretary for Financial Services & the Treasury Christopher Hui today spoke at a luncheon hosted by the Qatar Financial Centre (QFC) and met local business leaders in Doha, Qatar.

He encouraged Qatari financial institutions and enterprises to leverage Hong Kong’s unique advantages under “one country, two systems” to tap into the vast opport...

FS arrives in London

21-9-2023

Financial Secretary Paul Chan arrived in London yesterday, following his visit to France earlier this week.

Upon arriving, he joined around 400 leaders and professionals from different sectors of the UK economy in attending the Hong Kong Dinner, hosted by the Hong Kong Trade Development Council in London.

Addressing figures from the UK’s poli...

Inflation at 1.8% in August

21-9-2023

Consumer prices rose by 1.8% in August year-on-year, virtually the same as in July, the Census & Statistics Department announced today.

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 1.5%, slightly lower than July’s 1.6%.

Compared with August last year, price increases were seen in t...

Golden Week travel measures set

20-9-2023

Secretary for Culture, Sports & Tourism Kevin Yeung today hosted a meeting to follow up on the preparation work carried out by various government departments for the arrival of visitors to Hong Kong during the National Day Golden Week.

Mr Yeung said the Government will closely monitor the situation of visitor ...

FS promotes HK in Paris

20-9-2023

On day two of his visit in France, Financial Secretary Paul Chan attended the Think Business Think Hong Kong events organised by the Hong Kong Trade Development Council (HKTDC).
 
Mr Chan first toured an exhibition arranged by the HKTDC that introduces Hong Kong to the French business community.
 
At a symposium associated with the ex...

CE meets investment leaders

19-9-2023

Chief Executive John Lee today met Chairman and Chief Executive Officer of China Investment Corporation (CIC) Peng Chun and members of the corporation’s International Advisory Council.

Mr Lee welcomed the corporation's hosting of the CIC Forum in Hong Kong tomorrow and wished the event every great success....

HK among top freest economies

19-9-2023

Hong Kong continues to rank among the top in the Economic Freedom of the World 2023 Annual Report published by the Fraser Institute, coming in second place globally.

Among the five assessment areas in the 2023 report, the city continued to rank top in “Freedom to trade internationally”, and third globally in “Regulation”.

Hong Kong’s ...

Paul Chan begins visit to Paris

19-9-2023

Financial Secretary Paul Chan began his visit to France where apart from touring enterprises and a startup campus in Paris, he attended a business networking reception and met young Hong Kong musicians and cultural workers there.

Yesterday morning, Mr Chan visited two leading French enterprises and toured their research and development facilities.

CE conveys concern over JPEX case

19-9-2023

Chief Executive John Lee stressed that the incident regarding JPEX reflects the necessity for a proper regulatory system for virtual assets trading and made it clear that the Government will do more to educate investors.

Mr Lee made the statement ahead of today’s Executive Council meeting, saying that the incident highlighted the importance that in...

Algernon Yau to promote HK in KL

19-9-2023

Secretary for Commerce & Economic Development Algernon Yau will depart for Kuala Lumpur, Malaysia, tomorrow to attend the “China (Shenzhen, Hong Kong) - ASEAN (Kuala Lumpur) Emerging Industries Partnering Conference”.

Jointly organised by the Shenzhen Municipal People’s Government, the Commerce & Economic Development Bureau of the Hong ...

National Day offers to be rolled out

19-9-2023

The Government and different sectors of the community will roll out a rich array of activities and special offers including half-price movie tickets for members of the public to share the joy of National Day.

Movie fans can enjoy 50% off commercial cinema tickets all day on October 1.

As for transport, the public can travel for fr...

Christopher Hui to visit Qatar, Egypt

18-9-2023

Secretary for Financial Services & the Treasury Christopher Hui will leave Hong Kong tomorrow on a visit to Qatar and Egypt, and will return to the city on September 27.

Mr Hui will visit Doha to strengthen Hong Kong’s ties with Qatar. While in Egypt, he will attend a meeting of the Board of Directors of the Asian Infrastructure Investment Bank...

Interns expand career horizons

14-9-2023

The Scheme on Corporate Summer Internship on the Mainland & Overseas, organised by the Home & Youth Affairs Bureau, has resumed after the COVID-19 pandemic in collaboration with 24 large corporates each offering internship placements lasting no less than six weeks, with 234 students having successfully completed their internships.

As one of t...

FS to visit Europe

15-9-2023

Financial Secretary Paul Chan will depart for Paris, France, tomorrow night to begin his visit to Europe covering Paris, London, Berlin and Frankfurt.

During his stay in Paris from September 17 to 19, Mr Chan will attend Think Business Think Hong Kong, a mega promotion campaign organised by the Hong Kong Trade Development Council (HKTDC), and speak a...

HK role unique in Belt-Road

14-9-2023

Secretary for Financial Services & the Treasury Christopher Hui today said with its robust financial ecosystem, Hong Kong is uniquely positioned to contribute to the Belt & Road Initiative.

He added that Hong Kong's participation in the initiative enables the city to explore new opportunities for collaboration with financial institutions from...

Night Vibes HK Campaign launched

14-9-2023

The Government today announced the start of the “Night Vibes Hong Kong” Campaign featuring different sectors of the community playing their part in staging a wealth of diversified night-time events with local characteristics across the city starting from mid-September.

Financial Secretary Paul Chan officiated at the “Night Vibes Hong Kon...

Belt-Road Summit opens

13-9-2023

The eighth Belt & Road Summit opened in Hong Kong, attracting nearly 6,000 representatives from Belt & Road-related countries and regions.

With the theme “Prospering on a Decade of Collaboration”, this year’s summit commemorates the 10th anniversary of the Belt & Road Initiative.

Speaking at the opening session, Chief Executiv...

Vice premier’s summit speech lauded

13-9-2023

Chief Executive John Lee expressed his gratitude to Vice Premier Ding Xuexiang for his speech at the eighth Belt & Road Summit that opened in Hong Kong today and his strong support for the event.

In his speech, Mr Ding summarised the fruitful achievements made in promoting the Belt & Road Initiative over the past decade.

This inclu...

FS: Belt & Road has benefits for all

13-9-2023

The Belt & Road, an inspiring initiative brought to brilliant life by President Xi Jinping, is celebrating its 10th anniversary. It is a timely opportunity to take stock of what the Belt & Road has realised in its first decade, and what it can accomplish in the years to come.

Building on the spirit of co-operation and mutual benefit, the init...

Belt & Road Summit attracts leaders

13-9-2023

This eighth edition of the Belt & Road Summit promises to be particularly special. An anniversary year is always memorable. This year, we welcome the 10th anniversary of the Belt & Road Initiative.

The Initiative is an inspired strategy designed to bring countries, economies, businesses and peoples together. The theme of this two-day high-pro...

Hong Kong set to tell its story

11-9-2023

I am happy to share with you a few thoughts on the state of our legal system. As you all know, it is based on the common law system. This ensures fair hearing rights. Equally important is that our institutional setup continues to ensure access to justice. And the judiciary exercises its power independently. Our legal system is the cornerstone of the very t...

Relief fund for farmers, fishermen

11-9-2023

Local farmers, fish farmers and fishermen who suffered serious losses caused by the recent rainstorm disaster can register for assistance from an emergency relief fund from September 12 to 20.

The Agriculture, Fisheries & Conservation Department made the announcement today and explained that its preliminary investigation has revealed that some fa...

Meeting on HK-SZ tech park held

7-9-2023

Secretary for Innovation, Technology & Industry Prof Sun Dong and Shenzhen Vice Mayor Wang Shourui today co-chaired, in Hong Kong, the 10th meeting of the Joint Task Force on the Development of the Hong Kong-Shenzhen Innovation & Technology Park in the Loop.

Noting that a Development Plan for the Shenzhen Park part of the Hetao Shenzhen-Hong ...

HK Science Park SZ Branch opens

7-9-2023

Chief Executive John Lee today attended the opening ceremony, via video conferencing, of the Hong Kong Science Park Shenzhen Branch, witnessing another important milestone in innovation and technology (I&T) co-operation between Hong Kong and Shenzhen.

The ceremony, held in Shenzhen, was attended by Deputy Financial Secretary Michael Wong and Secr...

Algernon Yau attends GBA forum

7-9-2023

Secretary for Commerce & Economic Development Algernon Yau promoted the vast business opportunities brought about by the Greater Bay Area development at a conference in Munich, Germany, on September 6.

More than 400 participants were drawn to the Greater Bay Area & Europe Economic & Trade Co-operation Conference that comprised a themed fo...

Govt to issue retail green bonds

5-9-2023

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

The Government today announced the launch of a new batch of retail green bonds under the Government Green Bond Programme for Hong Kong residents’ subscription, at a denomination of $10,000.

During the three-year tenor, bond holders will be paid i...

Property sales up 5.3%

5-9-2023

The Land Registry recorded 4,660 sale and purchase agreements for all building units received for registration in August, up 5.3% compared with July, but 11% lower year-on-year.

The total consideration for such agreements increased 5.8% from July to $34.9 billion in August, while a 61.9% year-on-year decrease was recorded.

Of the agreements, 3,...

Kevin Yeung lauds Chow Yun-fat

5-9-2023

Secretary for Culture, Sports & Tourism Kevin Yeung today congratulated Hong Kong actor Chow Yun-fat on winning the Asian Filmmaker of the Year award at the 28th Busan International Film Festival.

The award is granted to Asian filmmakers who have made significant contributions to the advancement of the Asian film industry and culture.

Mr Ye...

Farmer relief fund to open

4-9-2023

Local farmers and fish farmers who suffered serious losses caused by recent Typhoon Saola can register for assistance from an emergency relief fund, the Agriculture, Fisheries & Conservation Department announced today.

They may register from tomorrow until September 13.

The department said its preliminary investigation revealed that Typhoo...

Algernon Yau to visit Germany

3-9-2023

Secretary for Commerce & Economic Development Algernon Yau will depart for Munich, Germany, tomorrow to attend the Guangdong, Hong Kong & Macao Greater Bay Area (GBA) - Europe Economic & Trade Cooperation Exchange Conference.

The conference is jointly organised by the Department of Commerce of Guangdong Province, Invest Hong Kong and the ...

Financial review report welcomed

1-9-2023

The Government today welcomed the publication of the 14th annual report from the Process Review Panel for the Accounting & Financial Reporting Council (AFRC).

In the 14th review period, the panel reviewed the AFRC’s work in 2021 under its statutory functions, namely inspection, investigation and enquiry, recognition of overseas public in...

Professional services funding opens

1-9-2023

The Professional Services Advancement Support Scheme has opened a new round of applications for funding from non-profit-distributing organisations, running from today until November 30.

Eligible organisations include professional bodies, trade and industrial organisations, and research institutes.

Involving a total allocation of $20...

Green bond report released

31-8-2023

The Government today released its Green Bond Report 2023, which sets out how the proceeds raised from the issuance of green bonds, including the inaugural tokenised green bond issued this year, are being allocated, as well as the expected environmental benefits of the projects financed.

The Government has so far issued green bonds totalling close to ...

Mortgage loans down 18.2%

31-8-2023

Residential mortgage loans approved in July decreased 18.2% compared with June to $28.1 billion, the Monetary Authority announced today.

Mortgage loans financing primary market transactions dropped 23.6% to $5.9 billion, while those financing secondary market transactions went down 24% to $13.4 billion.

Loans for refinancing also fell 2.6% to $...

HK, Bangladesh sign tax pact

30-8-2023

Secretary for Financial Services & the Treasury Christopher Hui today signed a comprehensive avoidance of double taxation agreement (CDTA) with Bangladesh on behalf of the Hong Kong Special Administrative Region Government.

The CDTA, signed in Hong Kong, sets out the allocation of taxation rights between the two jurisdictions and is aimed at help...

London ETO vandalism condemned

30-8-2023

The Hong Kong Special Administrative Region Government today expressed strong condemnation over the vandalism committed on the premises of the Hong Kong Economic & Trade Office (ETO) in London.

In a statement, the Hong Kong SAR Government pointed out that on August 29, London time, offenders, under the cover of darkness, sprayed indecent and offe...

HK expands tax pact network

30-8-2023

On behalf of the Hong Kong Special Administrative Region Government, I signed a comprehensive avoidance of double taxation agreement (CDTA) with the Government of Bangladesh today. The Agreement will reduce the withholding tax rates for certain passive income in Bangladesh, which will in turn help minimise the tax costs for Hong Kong businesses investing i...

CE welcomes Shenzhen Park plan

29-8-2023

Chief Executive John Lee today welcomed the central government’s promulgation of a development plan for the Shenzhen Park part of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone.

The co-operation zone, located on both sides of the Shenzhen River, is being developed under a vision for “one river, two banks” and...

Stock market task force launches

29-8-2023

The Task Force on Enhancing Stock Market Liquidity, established today, will comprehensively review factors affecting stock market liquidity and make improvement proposals to the Chief Executive, the Government has said.

Chaired by Carlson Tong, the task force comprises eight other members from the financial services sector, relevant government...

HK to enhance stock market liquidity

27-8-2023

Chief Executive John Lee today announced that a task force aimed at improving liquidity in the stock market will be set up very soon.

Mr Lee made the announcement at a media session after attending his second district forum ahead of October’s 2023 Policy Address.

He said: “I think one of the (factors) of the strong competitiveness (of Hong ...

Accounting council to recruit CEO

25-8-2023

The Government announced today the commencement of a global recruitment exercise for the next chief executive officer (CEO) of the Accounting & Financial Reporting Council (AFRC).
 
The selection panel chaired by the Secretary for Financial Services & the Treasury will identify the most suitable candidate for recommendation for appointme...

HK set to tap Web3 potential

25-8-2023

I am delighted to be here to join you for the opening ceremony of this year’s Digital Entertainment Leadership Forum, the flagship Cyberport event championing Hong Kong’s digital entertainment development since 2014.

Over the past years, the forum has emerged as a leading forum in the region, presenting exciting opportunities for industry experts...

Kevin Yeung lauds Andy Lau

24-8-2023

Secretary for Culture, Sports & Tourism Kevin Yeung today congratulated multi-talented Hong Kong artiste Andy Lau on garnering the Special Tribute Award at the 48th Toronto International Film Festival.
 
Mr Yeung also lauded Andy Lau for making great contributions to Hong Kong films and music.
 
“We sincerely congratulate Mr Lau...

July exports value down 9.1%

24-8-2023

The value of Hong Kong's total exports decreased to $345.2 billion in July, down 9.1% on the same month last year, the Census & Statistics Department announced today.

The value of goods imports decreased 7.9% to $375.1 billion for the same period.

A trade deficit of $30 billion, or 8% of the value of imports, was recorded for July.

Co...

Park on golf site opens Sep 1

23-8-2023

A park located east of Fan Kam Road in Fanling Golf Course will open for public use starting at 3pm on September 1, the Leisure & Cultural Services Department announced today.

The park, on the old course of the Fanling golf site, provides an inclusive park for pets, a walking trail, two five-a-side hard-surface soccer pitches, and areas to...

Preparations set for holiday arrivals

21-8-2023

The Culture, Sports & Tourism Bureau convened a meeting today to co-ordinate preparations for visitor arrivals to Hong Kong during the National Day Golden Week.

The meeting was hosted by Secretary for Culture, Sports & Tourism Kevin Yeung.

Representatives from the Customs & Excise Department, the Police Force, the Immigration Depart...

HK accepts WTO fisheries agreement

21-8-2023

Hong Kong, China today deposited with the World Trade Organization (WTO) its Instrument of Acceptance of the WTO Agreement on Fisheries Subsidies, the second multilateral trade agreement concluded since the WTO’s establishment and the first with environmental sustainability as the core objective.

Secretary for Commerce & Economic Development Al...

Proposals invited for non-profit venue

21-8-2023

The Culture, Sports & Tourism Bureau is inviting proposals from non-profit-making organisations to run operations in the premises currently occupied by the Fringe Club in Central. The new lease will be for three years, starting from April 1 next year.

The bureau aims to select the most suitable operator for the premises, which are situated...

1.8% inflation seen in July

21-8-2023

Consumer prices rose 1.8% in July year-on-year, slightly down from the 1.9% increase in June, the Census & Statistics Department announced today.

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 1.6%, also slightly lower than June’s 1.7%.

Compared with July last year, price increases w...

Public health I&T pact signed

18-8-2023

Witnessed by Secretary for Innovation, Technology & Industry Prof Sun Dong, the Department of Health and the Science & Technology Parks Corporation today signed a memorandum of understanding (MOU) to drive digital transformation in public health.

The MOU is aimed at leveraging innovation and technology (I&T) to expedite the digitalisation...

Algernon Yau attends expo in Urumqi

17-8-2023

Secretary for Commerce & Economic Development Algernon Yau attended the opening of the 2023 (China) Eurasia Commodity & Trade Expo in Urumqi, Xinjiang, today, with the goal of promoting economic and trade ties between Hong Kong and Xinjiang.

This year marks the 10th anniversary of the Belt & Road Initiative, and at a symposium at the expo...

Kevin Yeung visits Jiangmen, Zhuhai

17-8-2023

Secretary for Culture, Sports & Tourism Kevin Yeung returned this afternoon from visits to Jiangmen and Zhuhai aimed at fostering collaboration in culture and tourism in the Greater Bay Area.

Meeting Jiangmen Vice Mayor Lin Jiansheng and Director of the Jiangmen Municipal Bureau of Culture, Radio, Television, Tourism & Sports Kuang Jikang yes...

New bus routes at cruise terminal

16-8-2023

Deputy Chief Secretary Cheuk Wing-hing convened the second interdepartmental meeting on improving the transportation arrangements for cruise passengers arriving at Kai Tak Cruise Terminal (KTCT).

Having reviewed the facilitative measures taken during three recent ship calls, the Government and related parties formulated an action plan for the revisit...

Tse Chin-wan joins energy meeting

16-8-2023

Secretary for Environment & Ecology Tse Chin-wan attended the Asia-Pacific Economic Cooperation (APEC) Energy Ministerial Meeting themed “Creating a Resilient & Sustainable Future for All” in the US city of Seattle.

Speaking at the opening plenary, Mr Tse shared with other energy ministers the Hong Kong Special Administrative Region Gover...

8th Silver Bond results out

16-8-2023

The Government today announced the eighth Silver Bond’s subscription and allocation results.
 
A total of 323,783 valid applications were received for around $71.7 billion in principal amount of bonds.
 
The 202,477 applications seeking 22 or fewer units will be allocated the full amounts.
 
The other 121,306 applications...

Algernon Yau to attend ASEAN forum

15-8-2023

Secretary for Commerce & Economic Development Algernon Yau will depart Hong Kong tomorrow to take part in a trade expo in Xinjiang and the Association of Southeast Asian Nations Economic Ministers (ASEAN) meeting in Indonesia.

During his stay in Urumqi, Xinjiang, Mr Yau will attend the 2023 (China) Eurasia Commodity & Trade Expo and related e...

Kevin Yeung to visit bay area cities

15-8-2023

Secretary for Culture, Sports & Tourism Kevin Yeung will depart for Jiangmen and Zhuhai tomorrow.

Mr Yeung will call on the Jiangmen Municipal People’s Government and the Jiangmen Municipal Bureau of Culture, Radio, Television, Tourism & Sports, followed by the Zhuhai Municipal People's Government and the Zhuhai Municipal Bureau of Culture,...

New ball games popularised

11-8-2023

In its quest to encourage residents to participate in different sports, the Leisure & Cultural Services Department has launched the Pilot Scheme on Subvention for New Sports with the goal of supporting the efforts of local sports organisations to promote new sports.

Kin-Ball is one such sport subvented by the pilot scheme. It is a game tha...

Kevin Yeung optimistic on tourism

12-8-2023

Secretary for Culture, Sports & Tourism Kevin Yeung said today he is confident that with concerted efforts from all sectors in Hong Kong, the city will be able to attract more tourists.

Mr Yeung told reporters after speaking on a radio programme that the Government’s promotion of tourism will continue.

“We will continue to promote our t...

Economy grows 1.5% in Q2

11-8-2023

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

Led by inbound tourism and private consumption, Hong Kong’s economy continued to recover in the second quarter of 2023, with real gross domestic product (GDP) growing by 1.5% from a year earlier.

Presenting the latest economic figures and the Half-Ye...

US investment restrictions opposed

9-8-2023

The Hong Kong Special Administrative Region Government today criticised the US for a series of measures unreasonably targeting Hong Kong that undermine and cause damage to normal trade and investment activities.

The Hong Kong SAR Government expressed its strong objection and disapproval of the US measure restricting investment in China.

 &...

Securities trading channels enriched

10-8-2023

The Hong Kong Special Administrative Region Government today welcomed the decision by the China Securities Regulatory Commission and the Securities & Futures Commission to jointly introduce block trading (manual trades) under the mutual market access programme.

According to the joint announcement issued by the two regulatory bodies, offshore inve...

APEC energy modelling seminar held

8-8-2023

The Asia-Pacific Economic Cooperation (APEC) Workshop on Energy Modelling was held in Hong Kong via video conference today.
 
Around 90 experts and delegates from eight APEC member economies and five organisations attended the workshop to share experiences on the utilisation of energy modelling in forecasting energy consumption and tracking low ...

Kevin Yeung meets Guizhou official

8-8-2023

Secretary for Culture, Sports & Tourism Kevin Yeung today met Guizhou Vice Governor Cai Chaolin to exchange views on deepening collaboration between Hong Kong and Guizhou on cultural and tourism fronts.

Mr Yeung said that the Hong Kong Special Administrative Region Government capitalises on the advantages of the “one country, two systems” pri...

Alert issued on false emails

3-8-2023

The Commerce & Economic Development Bureau today alerted the public to fraudulent emails purportedly issued by the Secretary for Commerce & Economic Development's office.

The emails, which falsely claim to be issued under the Secretary's instructions, contain a suspected link to a malicious file.

The bureau has no connection with such e...

HK airport a growth engine: FS

2-8-2023

I am most delighted to welcome you all today to Aviation Day 2023 at Hong Kong International Airport (HKIA). And I say this not just out of courtesy: with the COVID-19 pandemic still raging last year and planes across the region grounded, it is indeed amazing that in a quick turnaround, you all managed to fly into Hong Kong seamlessly from all corners of t...

Culture chief visits film studio

2-8-2023

Secretary for Culture, Sports & Tourism Kevin Yeung toured an integrated media company in Hangzhou and Hengdian World Studios in Dongyang today as part of his trip to Zhejiang Province.

Mr Yeung visited Versatile Media in Hangzhou, a company that specialises in advertising and film production, to learn about the creative process and top-notch vir...

Public alerted to fake tax emails

1-8-2023

The Inland Revenue Department today issued an alert regarding fraudulent emails purportedly issued by the department, which invite recipients to claim tax refunds.
 
Each fraudulent email provides a hyperlink to a website that seeks to obtain the recipient's personal particulars and credit card information.
 
Apart from stressing that...

June retail sales up 19.6%

1-8-2023

The value of total retail sales in June, provisionally estimated at $33.1 billion, rose 19.6% compared with the same month in 2022, 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 increased 17.5% year-...

Kevin Yeung meets Zhejiang officials

31-7-2023

Secretary for Culture, Sports & Tourism Kevin Yeung today met Zhejiang Provincial Department of Culture & Tourism Deputy Director Xu Peng and Hangzhou Municipal Bureau of Culture, Radio, TV & Tourism party group member and Inspector at Level 2 Liu Yufeng during his visit in Hangzhou.
 
They discussed ways to deepen cultural and touri...

Mainland-HK enterprise session held

31-7-2023

The Commerce & Economic Development Bureau, in conjunction with the Hong Kong Chinese Enterprises Association, hosted a Mainland Enterprises Partnership Exchange & Interface Session today.

The platform is intended to promote ties connecting both state-owned enterprises (SoEs) and Mainland enterprises in Hong Kong with local providers of profe...

Kevin Yeung headed for Hangzhou

29-7-2023

Secretary for Culture, Sports & Tourism Kevin Yeung will depart for Hangzhou on July 30 to meet culture and tourism officials and attend a work meeting with the 19th Asian Games Hangzhou 2022 Organising Committee.

Apart from meeting officials of the Zhejiang Department of Culture & Tourism, Mr Yeung will also visit authorities and organisatio...

ASEAN tour a huge success

28-7-2023

Chief Executive John Lee said today his visit to three countries in the Association of Southeast Asian Nations (ASEAN) had brought achievements in five areas, including building friendship with the leaders of Singapore, Indonesia and Malaysia.

At a media session in Jakarta, Malaysia this afternoon, Mr Lee said the first area of achievement was that h...

Base rate raised to 5.75%

27-7-2023

The Monetary Authority today announced that it has increased the base rate to 5.75% with immediate effect.

The increase followed the 25-basis point upward shift in the target range for the US federal funds rate on July 26.

The base rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through...

HK, Indonesia sign 15 pacts

26-7-2023

Chief Executive John Lee, leading a Hong Kong Special Administrative Region delegation, today continued his Jakarta trip with a visit to the Jakarta-Bandung High Speed Railway and meeting local merchants. He also joined a luncheon during which 15 pacts were signed between Hong Kong and Indonesia.

In the morning, Mr Lee called on the local office of a...

June exports value down 11.4%

25-7-2023

The value of Hong Kong's total exports decreased to $337.4 billion in June, down 11.4% on the same month last year, the Census & Statistics Department announced today.

The value of goods imports decreased 12.3% to $393.9 billion for the same period.

A trade deficit of $56.6 billion, or 14.4% of the value of imports, was recorded in June.

Innotech project aid scheme opens

24-7-2023

The Innovation & Technology Commission is inviting applications from platform and seed projects under the 2023 Innovation & Technology Support Programme until October 27.

The programme provides funding support for platform and seed research and development (R&D) projects undertaken by designated local public research institutes and R&...

CE starts ASEAN trip in Singapore

23-7-2023

Chief Executive John Lee led a Hong Kong Special Administrative Region delegation to Singapore today to begin a visit programme to three countries of the Association of Southeast Asian Nations (ASEAN).

Upon arrival in Singapore, Mr Lee met Ambassador Extraordinary & Plenipotentiary of the People's Republic of China to the Republic of Singapore Su...

Voucher reminder issued

21-7-2023

The Government today reminded Octopus card users who have not yet received the second instalment of the 2023 Consumption Voucher Scheme that they must first meet the cumulative eligible spending requirement.

It explained that people who receive their consumption vouchers via Octopus must reach the target of $3,000 in cumulative eligible spending by J...

CE to visit ASEAN member states

20-7-2023

Chief Executive John Lee will depart on Sunday for a visit to three member states of the Association of Southeast Asian Nations (ASEAN), namely Singapore, Indonesia and Malaysia, to strengthen co-operation between Hong Kong and ASEAN countries in trade, economy and investment.

Mr Lee will lead a delegation to Singapore from J...

Inflation at 1.9% in June

20-7-2023

Overall consumer prices rose 1.9% in June year-on-year, slightly down from the 2% increase in May, the Census & Statistics Department announced today.

Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was 1.7%, also slightly lower than May’s 1.8%.

Compared with June last year, price increas...

Belt-Road joint conference held

19-7-2023

The sixth Joint Conference on Advancing Hong Kong’s Full Participation in & Contribution to the Belt & Road Initiative was held in Beijing today, the first physical meeting of the series since 2019.

Guo Lanfeng, the National Development and Reform Commission's CPC Leadership Group member, attended the conference along with other Mainland of...

Spectrum consultation launched

18-7-2023

A public consultation on arrangements for assigning the 400 MHz of spectrum in the 6/7 GHz band for the provision of public mobile services, and on setting the related spectrum utilisation fee, was launched today.

The Secretary for Commerce & Economic Development and the Communications Authority jointly launched the consultation, which inv...

Views sought on TV, radio services

17-7-2023

The Communications Authority today invited public views on proposals for relaxing or updating the codes of practice (CoPs) relating to programme and advertising standards of television and sound broadcasting services.

The mid-term review of the domestic free television programme service licences and sound broadcasting licences was completed in Februa...

Using tech to propel mail service

13-7-2023

Hongkong Post has responded to the rapid growth of e-commerce by developing a range of smart technology solutions including the iPostal Kiosk service and introducing a sorting robotics system to streamline the mail handling process, resulting in enhanced operational efficiency and workplace safety.

iPostal Kiosk provides a convenient way to post item...

8th Silver Bond batch announced

14-7-2023

The Government today announced the launch of the eighth batch of its Silver Bond series, offering a minimum interest rate of 5%. Residents who turn 60 in or before 2024 and hold a valid Hong Kong identity card are eligible for subscription. 

The bond will be offered at $10,000 per unit with a tenor of three years. Interest will be pa...

70k companies newly registered

14-7-2023

The Companies Registry today announced that 72,588 local companies were newly registered during the first half of 2023, bringing the total number of registered local companies to 1,416,643.

Meanwhile, 422 non-Hong Kong companies have newly established a place of business in the city and were registered under the Companies Ordinance. The total number ...

Exchange Fund's foreign assets drop

14-7-2023

The Exchange Fund’s foreign assets decreased by $23.1 billion to $3.4716 trillion in June, the Monetary Authority announced today.

The monetary base amounted to $1.8713 trillion, while claims on the private sector in Hong Kong amounted to $306.1 billion, it said.

Vouchers to be disbursed on July 16

13-7-2023

About 6.5 million people, including some 220,000 new registrants, have had their eligibility to receive payments under the second instalment of the 2023 Consumption Voucher Scheme verified, the Government announced today.

The second instalment of the 2023 scheme will be disbursed starting from July 16. Eligible Hong Kong permanent residents, n...

Algernon Yau lauds HK in Bangkok

13-7-2023

Secretary for Commerce & Economic Development Algernon Yau today commended Hong Kong’s advantages and vast potential before a business audience in Bangkok, Thailand, with a view to deepening business collaboration between the two places.
 
Speaking at a reception as part of Think Business, Think Hong Kong, a two-day promotional event organ...

Deposit protection hike tabled

13-7-2023

The Hong Kong Deposit Protection Board has proposed several enhancements to the Deposit Protection Scheme, including raising the protection limit from the current $500,000 to $800,000.

The board today issued a consultation paper on the enhancements and launched a three-month consultation that will run until October 12.

Board chairman Con...

FS calls on finance officials in Beijing

13-7-2023

Financial Secretary Paul Chan met officials in Beijing during the last day of his visit to the capital.

In the morning, Mr Chan called on National Development & Reform Commission Deputy Director Cong Liang and provided details about Hong Kong’s latest situation in areas such as finance, the economy and innovation and technology.

The offic...

FS meets Xia Baolong in Beijing

12-7-2023

Financial Secretary Paul Chan continued his visit in Beijing today by meeting Director of the State Council's Hong Kong & Macao Affairs Office Xia Baolong.
 
While meeting Mr Xia this morning, Mr Chan provided him with details about the latest situation in Hong Kong concerning the economy, people's livelihood and the strategy and work involv...

Kevin Yeung promotes cultural ties

12-7-2023

Secretary for Culture, Sports & Tourism Kevin Yeung met officials in Foshan and Guangzhou over the past two days to enhance cultural and tourism efforts as well as explore development opportunities.

In Guangzhou today, the culture chief met Guangzhou Municipal Culture, Radio, Television & Tourism Bureau Director Liu Yumei.

He also toure...

Algernon Yau to visit Bangkok

11-7-2023

Secretary for Commerce & Economic Development Algernon Yau will depart for Bangkok, Thailand, tomorrow afternoon to promote Hong Kong as a premium business destination by attending the Think Business, Think Hong Kong event organised by the Hong Kong Trade Development Council.

While in the Thai capital, he will meet enterprises’ senior executive...

Northern Metropolis task force meets

11-7-2023

The Task Force for Collaboration on the Northern Metropolis Development Strategy held its second meeting in Hong Kong today.

Deputy Financial Secretary Michael Wong and Huang Min, Shenzhen’s Vice Mayor, led delegations for the Hong Kong Special Administrative Region and Shenzhen, respectively.  

During the session, Hong Kong’s represen...

Kevin Yeung headed to Foshan, GZ

10-7-2023

Secretary for Culture, Sports & Tourism Kevin Yeung will depart for Foshan and Guangzhou tomorrow. He will meet officials responsible for cultural and tourism issues in both municipal governments as well as visit arts and cultural facilities.

Mr Yeung will return to Hong Kong on Wednesday afternoon. During his absence, Under Secretary for Culture...

I&T programme invites applications

10-7-2023

The Innovation & Technology Support Programme (ITSP) is accepting applications from “mid-stream, theme-based” projects from today until September 22, the Innovation & Technology Commission has announced.

The department said it is inviting mid-stream project proposals from universities funded by the University Grants Committee under...

FS joins Shanghai tech conference

6-7-2023

On day two of his visit to Shanghai, Financial Secretary Paul Chan attended the opening ceremony of the World Artificial Intelligence Conference 2023 and delivered a keynote speech at its plenary session.

In his speech, Mr Chan said that artificial intelligence (AI) has been reshaping the relative advantages of technology, industry structure and econ...