Hong Kong Digest

December 24, 2016 - January 6, 2017

Finance

Hong Kong retains position as top IPO market (Dec 20)

Raising a total of US$24.8 billion in 2016, Hong Kong takes the top spot for global IPO listings for the second consecutive year. There were 121 newly listed companies. Postal Savings Bank of China, which listed in September, raised US$7.6 billion – the largest IPO globally this year. Shanghai Stock Exchange came second (US$15 billion), followed by New York Stock Exchange (US$14 billion).

Hong Kong's skyline seen from Victoria Peak

Innovation & Technology

Hong Kong and Shenzhen hand-in-hand for new IT park (Jan 3)

Hong Kong will jointly develop with Shenzhen an innovation and technology park at Lok Ma Chau Loop. The park will be developed with IT as the main focus. A key base for cooperation in scientific research will be set up to attract top-notch enterprises from both sides and overseas.

Signing ceremony for the MOU on the Hong Kong-Shenzhen Innovation and Technology Park

NYC startups at StartmeupHK Festival (Jan 16-20)

NYC-based global fintech platform DarcMatter will be one of 24 startups competing for prizes during the Fintech Finals 2017, part of the StartmeupHK Festival. Organized by InvestHK, the festival will feature more than 80 speakers covering topics related to fintech, retail innovations, fashion technology and healthtech. The signature StartmeupHK Venture Forum will include four guest speakers from US-based companies.

InvestHK reveals details of 2017 StartmeupHK Festival

Arts & Culture

HKETONY Arts Fellows start residency program

HKETONY-Yale Arts Fellows, Debe Sham and Onnie Chan, arrived early January to begin their six-month residency in New Haven, CT. Sculptor and interdisciplinary artist Debe Sham focuses her conceptual projects on the idea of “interactivity” and has previously collaborated with local Hong Kong schools and organizations to build community-engagement through art. Interdisciplinary artist Onnie Chan leverages her education in theater and performance art to advance immersive game theater, holding workshops in the community and teaching drama in schools and universities.

Debe Sham
Onnie Chan

Transportation

Hong Kong airport hits record passenger throughput (Dec 29)

Hong Kong International Airport (HKIA) welcomed its 70 millionth passenger on Dec 29, who marks a record for HKIA’s passenger throughput. Chairman of the Airport Authority Jack So said HKIA is constructing an additional runway to meet increasing passenger demand. HKIA’s passenger, cargo and flight movements are expected to set new records in 2016.

Passengers at the Hong Kong International Airport

Education

Calling all English language teachers

Hong Kong is recruiting Native-speaking English Teachers (NETs) to teach in primary and secondary government-run schools across the city. Interested applicants can apply through Teach Away, the Government’s North American recruitment partner, through Feb 10.

Hong Kong is hiring Native-speaking English language teachers

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: Has there been any interference in the independence of the Judiciary?
A: No. Hong Kong’s robust and respected court system exercises judicial power independently, free from any interference. The power of final adjudication is vested with the Court of Final Appeal of the HKSAR, which may as required invite judges from other common law jurisdictions to sit on the Court of Final Appeal. The principle of trial by jury previously practiced in Hong Kong is maintained.  (BL Articles 2; 19; 81; 82; 85; 86)

Hong Kong Basic Law

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