JAN 4 - 10, 2022
Hong Kong set to grasp new opportunities
Under the theme “Navigating the Next Normal towards a Sustainable Future”, the 15th Asian Financial Forum, conducted in virtual format, kicked off today (Jan 10), offering a platform for thousands of leaders in government, finance and business from over 80 countries and regions to discuss the key factors shaping the future global economic landscape as the world adapts to the new normal. Speaking at the opening session, Chief Executive Carrie Lam said with boundless possibilities beyond the pandemic, Hong Kong aims to consolidate existing advantages and seek out fresh opportunities. She highlighted Hong Kong’s fundraising, asset and wealth management, insurance and financial technology businesses, in which the city would continue to prosper, adding that Hong Kong is stepping up efforts to promote green and sustainable finance. During the two-day event, highlights of the program also included two keynote sessions with Special Envoy on Climate Action and Finance of the United Nations Mark Carney and the former President of the European Central Bank Jean-Claude Trichet.
Webinar: Opportunities in Innovation & Technology
Seeking new horizons to expand your company? Join the webinar “Hong Kong: A World of Opportunities in Innovation & Technology” on Jan 26 (Wednesday) at 6 pm (EST) to learn about the opportunities driving the technology sector in Hong Kong. Global heads of innovation and technology of InvestHK, Wendy Chow and Andy Wong, will give an update on the latest development in the city’s technology ecosystem and how US companies can leverage Hong Kong’s unique advantages to tap into the enormous markets of China and Asia.
COVID-19 control measures tightened
In view of the rapidly worsening global pandemic situation due to the Omicron variant, the Hong Kong Special Administrative Region (HKSAR) Government have been employing the most stringent measures to guard against importation of cases. Currently, passenger flights from the US and seven other countries are prohibited from landing in Hong Kong until Jan 21. Those who have stayed in such places for more than two hours are also restricted from boarding a passenger flight for Hong Kong to prevent relevant people from travelling to the city via transit. A Government spokesman said that the relevant measure will inevitably affect the return journey of relevant Hong Kong residents. However, Hong Kong must act quickly and decisively to lower the risk to the local epidemic situation. At the same time, social distancing measures have been tightened to the most stringent level to curb the spread of the virus in the community. The Government has also expedited the pace of vaccination by opening more vaccination centers.
Hong Kong arts activators start residency at Yale
Meet our arts activators! Hong Kong arts and cultural project planner and researcher Waillis Lee (left) and actor-director and drama educator Hollis Ngai (right) arrived in New Haven to embark on their six-month residency program at Yale University under the Hong Kong Arts Activators Fellowship program of the Hong Kong Economic and Trade Office, New York (HKETONY). This marks the third year of HKETONY’s partnership with Yale-China Association (YCA) in the arts activators program. Joining the duo in New Haven is ethnomusicologist Noah Fang from the Chinese University of Hong Kong, who is an YCA Arts Fellow.
Performing at Museum: Dance x A New Thing
When martial arts meets dance! Join Hong Kong’s choreographer Lydia Lau and the city’s first junior locking crew - Funky Heroes - as they perform this invigorating dance incorporating martial arts element at the Hong Kong Heritage Museum.
Smart ID replacement set for residents
Hong Kong residents born in 1983, 1984, 1987 or 1988 should apply for a new smart identity card at a smart identity card replacement center from Jan 19 to Apr 2. Bookings can be made online, on the Immigration Department’s mobile app or by calling the 24-hour hotline at +852-2121-1234. Residents who are absent from Hong Kong during their call-up period can apply within 30 days of their return to the city.
  • Hong Kong’s foreign currency reserves amounted to US$496.8 billion as at the end-Dec 2021, compared with US$499.4 billion in the previous month. There were no unsettled foreign exchange contracts at end-Dec. The total foreign currency reserve assets of US$496.8 billion represent over six times the currency in circulation or about 48% of Hong Kong dollar M3.
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: Does the HKSAR Government have complete control over fiscal and economic policies and safeguard the free movement of goods, assets and capital?
A: The HKSAR Government formulates its own economic policies; manages its finances independently; prepares its own budgets; issues its own freely convertible currency; practices an independent taxation system; keeps its low and simple tax regime; formulates its own monetary and financial policies; safeguards the free flow of capital; maintains the status of a free port; pursues a policy of free trade and protects the free movement of goods, intangible assets and capital. (BL Articles 62; 106-119)

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