Hong Kong earns record high ranking as global FDI recipient
Hong Kong was the world's third largest recipient of Foreign Direct Investment (FDI) flows in 2010, according to the United Nations Conference on Trade and Development (UNCTAD)'s World Investment Report 2011 (WIR), released July 27.

This marks the first time Hong Kong has gained third place in the global rankings, having jumped into fourth place in 2009 from the ninth position in 2008.

Overseas and mainland China investors expanding in Hong Kong
Hong Kong Chief Executive Donald Tsang hosted a cocktail reception June 29 to thank overseas and mainland China investors who have set up or expanded in Hong Kong during the past year. Their presence in Hong Kong is a testimony not only to the territory's business potential but also to the strengths that support its development as Asia's world city. The cocktail reception, attended by about 350 top executives, is an annual event of InvestHK.

Government launches iBond
The Hong Kong Special Administrative Region Government announced the subscription and allocation results of the inflation-linked retail bond, the iBond, issued under the retail part of the Government Bond Programme (GBP).

According to the subscription information submitted by the placing banks and Hong Kong Securities Clearing Company Limited, as of the close of the subscription period on July 19, a total of 155,835 valid applications were received for a total of US$1.7 billion in the principal amount of the bond.

Innovation and technology are crucial to future of Pearl River Delta
The framework agreement on Hong Kong/Guangdong cooperation, which was signed last year, aims to establish the Pearl River Delta (PRD) region as one of the world's most competitive regions by the year 2020, and success in developing innovation and technology will be at the heart of achieving this goal, said Hong Kong Financial Secretary John C. Tsang.

Dedicated agency to facilitate data center developments
The Office of the Government Chief Information Officer started operation of its new Data Centre Facilitation Unit on July 25 to assist and promote the development of more high-tier data centers in Hong Kong. The Data Centre Portal [www.datacentre.gov.hk] also was launched to provide useful information on setting up data centers in the territory.

Officiating at the opening ceremony of the unit, Hong Kong Secretary for Commerce and Economic Development Gregory So said, "Data centers constitute an essential part of the infrastructure in our knowledge-based economy.