December 5-9, 2016

Business

Hong Kong welcomes Renminbi sovereign bond issuance (Dec 6)

China’s Ministry of Finance will issue Renminbi-denominated government bonds totaling RMB14 billion (US$2.03 billion) for the second time this year in Hong Kong. Hong Kong Financial Secretary John C Tsang welcomed the move, saying that the issuance supports the development of Hong Kong’s bond market and reinforces the city’s status as a global offshore Renminbi business hub.

Hong Kong welcomes the latest Renminbi sovereign bond issuance

Ranking

Hong Kong students excel in reading, maths and science (Dec 6)

Hong Kong students performed well on the latest Program for International Student Assessment (PISA), ranking 2nd in mother tongue reading skills, 2nd in mathematical literacy, and 9th in scientific literacy. The Education Bureau attributed the good scores to the collaboration of schools, teachers and various stakeholders.

Hong Kong shines in international study of reading, math, and science

Hong Kong ranks as top retail destination

Hong Kong ranked as Asia’s top retail destination and the world’s 2nd retail city by real estate investment management company Jones Lang LaSalle and real estate research company Savills, respectively. The two indexes highlighted the city’s appeal to international travelers and retailers with the prevalence of luxury stores, international brands and Michelin-starred restaurants.

 

Shopping in HK

HKETONY News

Director fosters ties in Florida and Alabama (Dec 7-9)

Director of the Hong Kong Economic and Trade Office, New York Steve Barclay called on Florida Governor Rick Scott and Alabama Governor Robert Bentley on Dec 7 and 8, respectively, fostering closer trade and business ties

 

DNY with Florida Governor Rick Scott
DNY with Alabama Governor Robert Bentley

Arts & Culture

Upcoming Silk Road Fantasy Night concert (Dec 16)

The International Chamber Orchestra of America (ICOA) will be holding the Silk Road Fantasy Night to usher in Christmas on Dec 16. The event will feature Emerson Quartet violinist Eugene Drucker and the world premiere of his compositions. The ICOA was founded by a group of talented Hong Kong musicians trained in the Julliard and Manhattan School of Music.

Emerson Quartet violinist Eugene Drucker
ICOA

Basic Law

Hong Kong and its Basic Law

The Basic Law (BL) is the constitutional document of the Hong Kong Special Administrative Region. Put into effect on July 1, 1997, it enshrines within a legal document the important concept of “One Country, Two Systems". 

Q:    Are Hong Kong people running Hong Kong with a high degree of autonomy?
A:.    Hong Kong people are running Hong Kong in all areas in accordance with the Basic Law, except for defense and foreign affairs and other matters for which the Central Authorities are responsible under the Basic Law. We do not need to seek instructions from the Central People’s Government (CPG) in running our affairs within our autonomy. We are not even required to pay taxes to the CPG. (BL Articles 2; 12-17; 19; 22; 106)

Basic Law

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