A Monthly Roundup of News and Events in Hong Kong
June - July 2009  

Positive investment signifies vote of confidence
Hong Kong Chief Executive Donald Tsang hosted a reception for about 300 top executives of foreign, mainland China and Taiwanese enterprises to welcome their establishment, expansion and contribution to the economy of Hong Kong.

Proposals aim to bolster six key industries
The Task Force on Economic Challenges (TFEC) recently proposed a host of measures to boost the development of six industries in which Hong Kong has an edge. Speaking after the group’s final meeting on June 22, Hong Kong Chief Executive Donald Tsang said the government should play a key role in helping the industries develop.

Creative industries get government boost
Hong Kong Chief Executive Donald Tsang said the Hong Kong Special Administrative Region Government would help local creative companies to make further inroads into the mainland China market.

Norman Chan named new HKMA chief executive
Norman Chan will take over as Chief Executive of the Hong Kong Monetary Authority (HKMA) on October 1.
 

One step closer to renminbi cross-border settlements
On June 29, the Governor of the People’s Bank of China (PBoC) Zhou Xiaochuan and Chief Executive of the Hong Kong Monetary Authority (HKMA) Joseph Yam signed a supplementary Memorandum of Cooperation to prepare for the implementation of the pilot program for the use of renminbi in settling cross-border trade transactions between mainland China and Hong Kong.

Hong Kong calls for early Doha Round negotiations conclusion
Hong Kong Secretary for Commerce and Economic Development Rita Lau and 10 other ministers responsible for the World Trade Organization (WTO) Doha Round negotiations have issued a joint statement, calling upon all WTO members “to resist protectionism and to conclude the Doha Round negotiations as soon as possible.”

Hong Kong Disneyland expansion to add 3,700 jobs
The Hong Kong Special Administrative Region Government and The Walt Disney Company (TWDC) have reached an agreement in principle on an expansion of Hong Kong Disneyland (HKD) that will enhance the theme park’s appeal while serving the overall interests of Hong Kong.

SFC, HKMA and 16 banks reach agreement on Minibonds
On July 22, Hong Kong’s Securities and Futures Commission (SFC), the Hong Kong Monetary Authority (HKMA) and 16 distributing banks (the Banks) jointly announced that they have reached an agreement in relation to the repurchase of Lehman Brothers Minibonds from eligible customers.

Hong Kong well-positioned to become innovation and technology hub
The Hong Kong Special Administrative Region Government has put in place a wide range of funding and infrastructural support to develop Hong Kong into a regional innovation and technology hub, according to Assistant Commissioner for Innovation and Technology Nicholas Chan.

Views sought on Bruce Lee's home restoration
Hong Kong Secretary for Commerce and Economic Development Rita Lau wants fans — both armchair and professional — to submit contest entries on how to restore the former residence of the late Bruce Lee.

       


 


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ã 2009, Hong Kong Economic & Trade Office in New York