May 6-12, 2017

Belt and Road Initiative

Chief Executive to lead delegation to Belt and Road forum

The Chief Executive C Y Leung is leading a 30-strong delegation to attend the Belt and Road Forum for International Cooperation in Beijing (May 14-15). He will speak on financial connectivity and the role of Hong Kong as a super-connector at the forum. The Hong Kong Government has launched a short video and a compendium on Hong Kong's strengths in the Belt and Road's development.

Economy

Economy grows 4.3%

Hong Kong's economy picked up in the first quarter of this year, largely due to increased trade, an encouraging global economic outlook, and improvements in domestic demand. The economy grew 4.3% year-on-year in real terms. The economic growth forecast for 2017 remains at 2% to 3%.

 

Business & Finance

FinTech reports released

Two useful guides to Hong Kong's FinTech sector has been published. “The Future of FinTech in Hong Kong Report” gives recommendations on fintech's further development in various areas including cybersecurity, payments and securities settlement, as well as digital identity and know-your-customer utility. “The Hong Kong - Building Trust Using Distributed Ledger Technology Report” outlines the benefits and challenges brought about by distributed ledger technology, and proposes how the technology including blockchain can be developed in the territory.

20A Celebrations in NYC and Chicago

20A celebration kicks off in Chicago

The Hong Kong Economic and Trade Office in New York kicked off the celebration of the 20th anniversary of the establishment of the Hong Kong Special Administrative Region in Chicago with a glittering award night paying tribute to Teddy Robin Kwan (May 11). The versatile Hong Kong film and music talent was honored with a Lifetime Achievement Award presented by the Asian Pop-Up Cinema.  It was followed by a gala dinner (May 12), featuring arts and cultural performances, with more than 500 guests attending.

“Inspirational Liaisons – Encore” at Carnegie Hall

Hong Kong-based musicians will be performing at a concert “Inspirational Liaisons – Encore” at  Carnegie Hall on June 11, bringing a repertoire of works including “Vaughan Williams Songs of Travel”, “Ravel Sonata in G for violin and piano” and “Gershwin Three Preludes” for the New York audience. Ticketing details are here.

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: Have Hong Kong's capitalist system and way of life been preserved?

A: The Basic Law provides that the capitalist system and way of life shall remain unchanged. Hong Kong maintains a free and open market economy with a free flow of capital, goods, intangible assets, and a freely convertible currency. People’s lifestyle remains the same as before. (BL Articles 5; 112; 115)

Hong Kong Basic Law

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