Opportunities amid growing digital ecosystem |
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Hong Kong’s agile and dynamic digital landscape makes the city the number one location choice in Asia for companies seeking to connect with the whole of Asia and beyond, said Director General of Invest Hong Kong Stephen Phillips, citing the joint report “Explore Opportunities in Hong Kong’s Digital Ecosystem” released (Oct 18) with PricewaterhouseCoopers. Detailing Hong Kong’s digital evolution in eCommerce, food services and creative industries, the report showcases Hong Kong as a complex market, exhibiting signs of strong growth, and as a business destination that continues to create fresh opportunities for all industries.
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Best option for private wealth management |
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Hong Kong’s sound legal and financial infrastructure, its unique “one country, two systems”, along with the convergence of global talent, makes the city the best option for managing private wealth, said Secretary for Justice Teresa Cheng at a webinar (Oct 18). Pointing out that the legal and dispute resolution sector in Hong Kong provides high-quality services to facilitate deal-making and resolving disputes, as well as in taking care of the regulatory and legal compliance side for private wealth management related matters, Ms Cheng added that the eBRAM International Online Dispute Resolution Centre of Hong Kong provides an efficient, cost-effective and secure platform for online deal-making and resolving disputes among parties in any part of the world.
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Hong Kong as an innovation & technology hub |
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Chief Executive Carrie Lam said she is confident that Hong Kong's future innovation and technology (I&T) development will turn the city into an international I&T hub, which will complement its position as a global financial center in driving its future economic development. In her 2021 Policy Address, Mrs Lam pointed out that Hong Kong's I&T industry is flourishing and to sustain the good momentum, the city is keen to develop a more comprehensive I&T ecosystem. The Policy Address also announced further measures, including providing an additional 150 hectares of land in the Northern Metropolis plan for I&T use, developing the San Tin Technopole and setting up the InnoLife Healthtech Hub.
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Opportunities abound in Hong Kong, an international business and financial hub that connects Mainland China and the rest of the world. An international and cosmopolitan city, Hong Kong is open to global talents as it propels its economy forward. To further attract global talent, Hong Kong is doubling the annual quota of the Quality Migrant Admission Scheme (QMAS) for top talent, from 2,000 to 4,000. Unlike other employment programs, successful QMAS applicants do not need to have secured an offer of local employment before their entry to Hong Kong. Applicants who meet the requirements of the Talent List of Hong Kong will enjoy bonus points under the QMAS. The Talent List currently comprises 13 professions that complement Hong Kong’s policy direction to develop relevant key areas.
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ADMINISTRATION & CIVIC AFFAIRS |
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Justice Department responds to UN statement |
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The enactment of the National Security Law is in line with the international practice of safeguarding national security and the sovereign rights of each state, said the Department of Justice (Oct 13). In its response to a United Nations special rapporteurs statement on the National Security Law, the department noted that Hong Kong's legal system and rule of law remain robust with law and order restored, enabling its residents to enjoy their rights and freedoms in a safe and peaceful environment. When adjudicating cases under the National Security Law, as in any other case, judges remain independent and impartial in performing their judicial duties free from any interference.
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Hong Kong FinTech Week to be held Nov 1-5 |
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Learn more about the latest opportunities in fintech and what Hong Kong has to offer at the upcoming Hong Kong Fintech Week (Nov 1-5). Gain insight from prominent financial leaders including Co-founder and Executive Vice-Chairman of Alibaba Joe Tsai, Chairman and CEO of BlackRock Larry Fink, CEO of Citi Jane Fraser, CEO of Hong Kong Exchanges and Clearing Nicolas Aguzin and others during the five-day event on topics ranging from challenges and opportunities, to the global capital markets to green finance. Register for the event here!
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Webinar: Latest developments in financial services and fintech |
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Join a conversation with Hong Kong’s Secretary for Financial Services and the Treasury Christopher Hui and learn more of the role Hong Kong will play as China furthers its economic development. Mr Hui will also discuss how the city’s financial services and fintech advances will contribute to the regional development and Hong Kong’s edge in the Guangdong-Hong Kong-Macao Greater Bay Area. The webinar “Hong Kong’s Latest Developments in Financial Services, Fintech, and its edge in the Greater Bay Area” will be held on Nov 2 between 8 - 9 pm (EST). Register here.
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Music and the human touch |
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Satisfy your sweet tooth and cravings with Hong Kong Philharmonic’s trombonist Kevin Thompson who visits a Cha Chaan Teng to discover more about Hong Kong local food. Its signature Fried Chicken Drumsticks and Yuen Yeung (a silky milk tea combined with strong black coffee) conjure “Thoughts of Love” for the place one calls home. The intricate, crisp and buttery texture of traditional dessert Sugar Puff goes along really well with the silky Yuen Yeung, just like the rich and flowing melodies of Beethoven’s Romance no. 2. Enjoy the warmth of Hong Kong and sip it all in this video!
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Foreign assets of the Exchange Fund fell by US$2.1 billion to US$518.5 billion in September. The Monetary Base amounted to US$271.5 billion.
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August’s total goods exports increased 18.6% year-on-year while the volume of goods imports rose 21% in the same comparison period. Prices of goods exports and imports increased 6.1% and 6% year-on-year for the month.
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Hong Kong and its Basic Law |
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The Basic Law (BL) is the constitutional document of the HKSAR. Put into effect on July 1, 1997, it enshrines within a legal document the important concept of “One Country, Two Systems”.
Q: Is Hong Kong an easy place to visit for tourists or international business people?
A: Yes, very much so. Hong Kong has autonomy in immigration control. It maintains its own immigration laws and procedures and has a very liberal visa policy. Nationals of about 170 countries and territories may visit Hong Kong without a visa/entry permit for a period ranging from 7 days to 180 days. (BL Articles 154; 155)
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