February 18 - 24, 2017

Economy

Hong Kong to focus on developing economy

Hong Kong Financial Secretary Paul Chan spelt out in his 2017-18 Budget speech various significant and substantive initiatives to develop the economy, improve livelihoods and invest in the city’s future. Fiscal reserves are expected to reach US$120 billion, equivalent to 23 months of government expenditure, having included the fiscal surplus of US$12 billion in 2016-17. A number of tax and relief measures were introduced. The economy grew 1.9% in 2016 and is forecast to grow 2-3% in 2017.

Joint Co-operation

Hong Kong and Guangdong review co-operation plan

Hong Kong Chief Secretary Matthew Cheung and the Vice-Governor of Guangdong Province He Zhongyou co-chaired the 22nd Working Meeting of the Hong Kong-Guangdong Co-operation Joint Conference (February 23) and announced progress and plans on a number of areas. They cover financial services, trade and logistics, professional services and tourism, innovation and technology, environmental protection, education, and cross-boundary infrastructure.

University of Hong Kong-Shenzhen Hospital celebrates 5th Anniversary

Hong Kong Chief Executive C Y Leung visited the University of Hong Kong-Shenzhen Hospital (February 23) on its 5th anniversary celebration. The hospital is a key project of Hong Kong-Shenzhen co-operation, providing quality medical services through the introduction of advanced international medical technology and innovative treatment modes. It has more than 500 doctors from the Mainland and overseas, including 100-plus Hong Kong doctors. 

Business

InvestHK helps record number of companies to set up in HK

Invest Hong Kong helped a record 391 companies, from 40 economies, to set up or expand their business in Hong Kong last year, up 4.3% year-on-year. Mainland China leads the pack, with 82 companies, followed by US (59) and the UK (40). 

WeWork celebrates opening of Hong Kong office

The Hong Kong SAR Government will continue to offer comprehensive support to the city’s burgeoning entrepreneurship and startup community, which has seen an explosive growth in the past year, said Hong Kong Secretary for Commerce and Economic Development Gregory So at the opening of New York-based co-working space WeWork that has set up in Hong Kong. The number of start-ups in the city grew from 1,558 in 2015 to 1,926, a 24% year-on-year increase, creating more than 5,000 jobs. 

HKTDC Chairman re-appointed

Vincent H S Lo has been reappointed as the Chairman of the Hong Kong Trade Development Council (HKTDC) for two years, from June 1. Hong Kong Chief Executive CY Leung, commenting on the appointment, said Mr. Lo is an excellent ambassador for Hong Kong and under his leadership the HKTDC has been successful in promoting the city’s trade and enhancing its profile outside of Hong Kong. 

Tourism

Budget initiatives to boost tourism   

Hong Kong’s tourism sector will see a boost in funding for more homegrown mega events and tourism projects.  They include US$31 million to enhance the city’s tourism appeal, supporting light shows, mega events and to enhance the appeal of Hong Kong for meetings, conferences and events. Hong Kong received 56.6 million tourists in 2016, a drop of 4.5% as compared to 2015. 

Fashion

Vivienne Tam's Hong Kong-themed coat attracts NY1 host

NY1 society reporter George Whipple took a sneak preview of Vivienne Tam's Fall/Winter collection right before the runway show (February 15), which he found to be an “incredible season”. He tried on a grey overcoat which was “amazing and cool” on him, in the designer's words. Celebrities like Paris Hilton and Emma Myles sang her collection’s praises. 

Arts and Culture

Hong Kong baritone to perform at National Opera Center

Baritone Revan Yiu, from Hong Kong, will be performing at an afternoon concert at the National Opera Center (330 7th Ave, 7th Floor, New York, NY, 10001) on Saturday, March 4, featuring selections of a number of composers from Mozart to Wagner. Joining Yiu at the performance are mezzo soprano Emma Lavandier and bass bariton Claudio Mascharenhas. For more information: https://www.eventbrite.com/e/emerging-artist-concert-tickets-32257453913

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:    Can Hong Kong still conclude and implement agreements with foreign states and regions or international organizations, and participate in international conferences?
A:    Hong Kong continues to play an active role in the international arena and maintains close contact with its international partners.  The HKSAR may on its own, using the name “Hong Kong, China”, maintain and develop relations and conclude and implement agreements with foreign states and regions and relevant international organizations in the appropriate fields. Since the reunification, the HKSAR Government, authorized by the Central Authorities, has concluded over 100 bilateral agreements with foreign states in accordance with the Basic Law, including Air Services Agreements, Visa Abolition Agreements and mutual legal assistance agreements. In 2007, representatives of the HKSAR Government, using the name of “Hong Kong, China”, participated in over 1,600 international conferences not limited to states. (BL Articles 96; 133; 151; 152; 155)

 

 

Hong Kong Basic Law

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