JULY 6 - 11, 2022
Flight ban mechanism halted
To provide greater certainty for air passengers travelling to Hong Kong, the city has suspended its so-called circuit breaker mechanism, by which carriers with a set number of infected inbound passengers were banned, until further notice. Meanwhile, inbound travelers are required take an additional PCR test on the third day of arrival when they are quarantined in hotels, so as to halt the importation of COVID-19 cases more effectively.
New family office sets up in Hong Kong
Right Time Asset Management Company officially unveiled (Jul 8) its new family office in Hong Kong, leveraging the city’s status as an international financial center to expand its family office business in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and helping ultra-high-net-worth individuals in the region to invest in Hong Kong’s capital market.  Welcoming the company’s expansion, Associate Director-General of Investment Promotion at Invest Hong Kong Charles Ng said Hong Kong, as part of the GBA, has a prudent and robust financial regulatory regime with a well-educated workforce and free flow of capital, making it an ideal place for business expansion in the region.
PMI stays in expansionary zone
The S&P Global PMI for Hong Kong remained in the expansionary zone for three consecutive months, though easing from 54.9 in May to 52.4 in June, amid lingering impacts of COVID-19.
Money laundering report published
Addressing the risks published in the latest issue (Jul 8) of Hong Kong’s Money Laundering & Terrorist Financing Risk Assessment Report, the Hong Kong Special Administrative Region (HKSAR) Government will focus on five major areas of work: enhancing the anti-money laundering and counter-financing of terrorism legal framework, strengthening risk-based supervision and partnerships, stepping up outreach and awareness-raising, monitoring new and emerging risks, and strengthening law enforcement efforts and capability of gathering intelligence. In particular, the Government will introduce a legislative proposal to the Legislative Council to amend the Anti-Money Laundering and Counter-Terrorist Financing Ordinance to introduce a licensing regime for virtual asset service providers and a registration regime for dealers in precious metals and stones. The proposed legislative amendment aims to mitigate the risks of the sectors and protect investors. The Government said it will continue to monitor and respond to the risks with vigilance amidst the evolving international security landscape.
Hong Kong Cinema - A Virtual Photo Exhibition
The virtual exhibition of “Making Waves: Navigators of Hong Kong Cinema” has been launched to showcase the works of four unit photographers in Hong Kong: Jupiter Wong, Wong Wai-lun, Quist Tsang, and Sharon Salad, who have created exceptional still images for nearly 200 Hong Kong films over the last 25 years - each telling a unique story of Hong Kong cinema in a new artistic dimension. Through their distinctive perspectives and aesthetics, audience will see remarkable still images of actors on and off-screen, the intriguing filming process, Hong Kong’s unique landscape, and the creative paths that local filmmakers are forging ahead. Presented by Create Hong Kong, the virtual photo exhibition is part of the celebrations to mark the 25th Anniversary of the HKSAR. Available to US audience for a limited time (Jul 8 – Aug 14) only, enjoy!
Hong Kong Dragon Boat Festival returns to New York
Celebrating its 30th Anniversary, the Hong Kong Dragon Boat Festival in New York returns to full-scale this year, with some 150 racing teams paddling to the finishing line at Flushing Meadows Corona Park on Jul 30 – 31. Supported by the Hong Kong Economic and Trade Office in New York (HKETONY), this multi-cultural event is the biggest dragon boat festival in the United States. To mark the 25th Anniversary of the establishment of the HKSAR, the HKETONY will stage a mini-exhibition, featuring works of Hong Kong illustrator Stella So to showcase the cultural heritage of Hong Kong. The Hong Kong Tourism Board will also shine a spotlight on Hong Kong’s Great Outdoors – the fantastic natural landscapes in the city. We are looking forward to seeing you there! 
Grace Lau wins bronze medal at World Games
Congratulations to Hong Kong karate athlete Grace Lau for winning a bronze medal in the Women’s Kata event in The World Games 2022 (Jul 9)! Lau was also the bronze winner at last year’s Tokyo Olympics, the World Championships, and the Asian Championships. This year, a total of 17 athletes from Hong Kong are taking part in The World Games (Jul 7 – 17) in Birmingham, Alabama, competing in eight events. 
Smart ID replacement set for residents born in 1992 - 1995
Hong Kong residents born in 1992, 1993, 1994 or 1995 should apply for a new smart identity card at a smart identity card replacement center from Jul 25 to Oct 6. The identity card replacement exercise covers all Hong Kong residents, be they permanent residents or non-permanent residents who are permitted to take up employment, make investments, reside or study in Hong Kong. Bookings can be made online, on the 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 and its Basic Law
The Basic Law 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 a free port and a separate customs territory?
A: The HKSAR is a separate customs territory. The HKSAR, using the name “Hong Kong, China”, is a member in its own right of the World Trade Organization and the World Customs Organization. Ships of all nations enjoy access to the ports of the HKSAR, which is a free port, in accordance with the laws of the Region. Export quotas, tariff preferences and other similar arrangements, which are obtained or made by the HKSAR or which were obtained or made and remain valid, shall be enjoyed exclusively by Hong Kong. (BL Articles 114; 116; 126)

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