OCT 19 - 25, 2021
Hong Kong FinTech Week to be held Nov 1-5

The Hong Kong FinTech Week will return to the city in hybrid format from Nov 1-5. Themed “Scaling FinTech Future Together,” the event will explore how emerging technologies and innovative advances can power the future of financial services to maximize benefits for consumers, business and society at large. This year’s FinTech Week is expected to attract over 250 speakers, along with over 400 exhibitors and more than 30 delegations from all over the world. Prominent industry and government leaders will speak on the potential of the latest fintech trends such as virtual and open banking, digital assets and currencies and payment technology.
Fintech innovation supervisory cooperation in GBA
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) signed a Memorandum of Understanding on Fintech Innovation Supervisory Cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (Oct 21) to link up the PBoC’s Fintech Innovation Regulatory Facility with the HKMA’s Fintech Supervisory Sandbox. The “network link-up” aims to provide a “one-stop platform” to allow eligible financial institutions and technology firms to conduct pilot trials of cross-boundary fintech initiatives. This arrangement will strengthen fintech supervisory exchanges in an environment of rapidly advancing technology, and help expedite the launch of fintech products and reduce development costs.
New pathway for overseas-trained doctors to practice in Hong Kong
Hong Kong's Legislative Council passed (Oct 21) the Medical Registration (Amendment) Bill 2021, which will allow more qualified overseas-trained doctors to practice with special registration in the city. Welcoming the passage of the bill, the Hospital Authority said it will work with the Hong Kong Special Administrative Region Government to promote the special registration program, adding that the recruitment of these overseas-trained doctors can help tackle the rising service demands and ensure quality healthcare services for the people of Hong Kong.
Webinar: Opportunities for US healthtechs in Asia
What are the latest healthcare trends, developments and opportunities in Mainland China and Hong Kong? How important is the Asia market and what does the future look like? Join a panel of experts from the US and Hong Kong at a webinar on Nov 4, between 7 PM – 8 PM (EDT), to learn more about the proven strategies and available resources for US companies in the dynamic healthcare sector. Register here.

Hong Kong participates in WRLDCTY Festival 

For the second consecutive year, Hong Kong is taking part in the global forum of WRLDCTY (Oct 26-28) that unites cities and urban innovators from around the globe. Register now for the virtual WRLDCTY Festival to learn more about the qualities and aspirations of Hong Kong’s urbanity and mobility, including the Airport City vision, harborfront experience, new cultural landmarks, entrepreneurial flair, night safaris and exciting opportunities in the Greater Bay Area. You can watch these eclectic programs for free by using the promo code HKGUEST.
Renewable energy program wins US award 
The Electrical and Mechanical Services Department (EMSD) received (Oct 19) from the Association of Energy Engineers (AEE) the Innovative Energy Project of the Year for the Asia-Pacific Rim region, in recognition of its outstanding performance in promoting the development of renewable energy through the Solar Harvest program. The AEE is a nonprofit professional society of over 18,000 members in more than 100 countries to promote sustainable development in the energy industry. This is the third time that the EMSD has received awards from the AEE, having previously been awarded in 2017 and 2019.
  • Overall consumer prices rose 1.4% in September year-on-year, smaller than the 1.6% growth in August. Netting out the effects of the Government’s one-off relief measures, September’s underlying inflation rate went up 1% compared to a year earlier, also smaller than the 1.2% recorded in August.

  • While business sentiment turned more cautious as the COVID-19 pandemic continued to cast uncertainties over the global economic outlook, large enterprises in some sectors continued to expect further business expansion in the near term. Hiring sentiment held steady in overall terms.

  • The seasonally adjusted unemployment rate fell to 4.5% for the Jul – Sep period, compared with the previous three-month period. The underemployment rate also dropped to 2.1% during the period.
Hong Kong and its Basic Law
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 Chinese the only official language allowed under the Basic Law?
A: No, in addition to Chinese, English is also an official language used by the executive authorities, the legislature and the judiciary of the HKSAR. (BL Article 9)

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