February 4-10, 2017

Business

Hong Kong is US 9th largest export market

The latest 2016 trade figures by the US Department of Commerce showed that Hong Kong remains the ninth largest export destination for US goods (US$35 billion), same as the previous year. The US enjoyed a goods trade surplus (US27.5 billion) too. The top three export destinations for US goods are Canada (US$267 billion), Mexico (US$231 billion) and China (US$116 billion).

Sports

Hong Kong cyclists bring home gold

Hong Kong cyclists brought home five gold medals at the 37th Asian Track Cycling Championship in India that ended February 10. Veteran cyclist Lee Wai-sze, broke her own record by winning three gold medals in the Women’s 500 Meter Time Trial, the Women’s Sprint and the Women’s Keirin. Leung Chun-wing won gold in Men's Scratch while Meng Zhaojuan and Pang Yao placed first in the Women’s Madison.  

Arts & Culture

Intangible cultural heritage of Hong Kong 

The making of Hong Kong-style milk tea has made it to the recommended items on the representative list of intangible cultural heritage of Hong Kong. The other nine items in the proposal by the Intangible Cultural Heritage Advisory Committee that will be available for public consultation in March are Nanyin Singing; Spring and Autumn Ancestral Worship of Clans; Tin Hau Festival in Hong Kong; Mid-Autumn Festival - Pokfulam Fire Dragon Dance; the Taoist Tradition of the Zhengyi (Orthodox Unity) School; Sek Pun (Basin Feast); Paper Crafting Workshop; the Sewing Techniques of Kwan Kwa Wedding Costume and Hongkong-style Cheongsam; and Bamboo Theatre Building Technique.

Film

2017 Hong Kong Film Awards nominations

Movies with strong local themes dominated the nominations for the 2017 Hong Kong Film Awards, its 36th edition, with romance drama “Soul Mate” garnering 12 nominations, including Best Film. Crime thriller “Cold War 2” received 10 nominations. Stephen Chow’s “The Mermaid”, along with “Weeds on Fire” and “Mad World” each earned eight nominations. The Awards, the equivalent of the Oscars in Hong Kong, will be handed out on April 9.

Basic Law

Hong Kong and its Basic Law

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

Q: Has the HKSAR Government maintained complete control over fiscal and economic policies and safeguarded the free movement of goods, assets and capital?

A: The HKSAR Government formulates its own economic policies; manages its finances independently; prepares its own budgets; issues its own freely convertible currency; practices an independent taxation system; keeps its low and simple tax regime; formulates on its own monetary and financial policies; safeguards the free flow of capital; maintains the status of a free port; pursues a policy of free trade and protects the free movement of goods, intangible assets and capital. (BL Articles 62; 106-119)     

 

Hong Kong Basic Law

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