SEPTEMBER 13 - 19, 2022


Hong Kong jazz ensemble plays to packed houses on US tour

The US jazz tour of four Hong Kong star musicians ─ guitarist Eugene Pao; pianist Ted Lo, bassist Sylvain Gagnon and drummer Anthony Fernandes ─ concluded with great success, playing to enthusiastic audiences at packed houses at stops in four cities. The jazz quartet was joined by multiple Grammy Award-winning jazz trumpeter Randy Brecker on opening night at the iconic Jazz at Lincoln Center in New York. Following the grand opening night in the Big Apple (Sep 13), the musicians continued to enthrall the audiences in Chicago (Sep 14), Washington DC (Sep 16), and New Orleans (Sep 17). Director of Hong Kong Economic and Trade Office, New York (HKETONY) Candy Nip said she was proud to present this stellar lineup to the US audience, showcasing Hong Kong’s diverse music talent. She said the four distinguished musicians are the walking testimony that Hong Kong is not only a vibrant business and financial center, but also a cosmopolitan city with a rich arts and cultural scene, and a welcoming embrace for global talents. Organized by the HKETONY to promote cultural exchange between Hong Kong and the US, the jazz tour was also part of the celebration programs of the 25th anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR).


StartmeupHK Festival concludes successfully

The week-long StartmeupHK Festival 2022 concluded on Sep 10, with over 20,000 participants from more than 100 countries and territories, comprising industry leaders, entrepreneurs, investors, tech enthusiasts and government officials. Over 550 speakers from around the world spent six days celebrating the start-up sector’s ability to embrace emerging technologies and innovate for a better tomorrow. In addition to exploring opportunities presented by Web3 and the metaverse, this year’s festival also focused on sustainable innovation and the impact of increasing digitalization on the wider society. Head of StartmeupHK Jayne Chan said Hong Kong has proven itself a key player in the innovation and digitalization game, with unlimited potential for growth. In opening remarks, Financial Secretary Paul Chan encouraged start-ups to seize the opportunities of development in the Guangdong-Hong Kong-Macao Greater Bay Area, an important base for Hong Kong in innovation.


Labor market continues to improve

Hong Kong’s seasonally adjusted unemployment rate dropped by 0.2 percentage point to 4.1% for the Jun – Aug period, compared to the previous three-month period. The underemployment rate also declined by 0.2 percentage point to 2% during the period. Almost all major economic sectors saw a decrease in the unemployment rate, with improvements seen in the decoration, repair and maintenance for buildings sector, as well as arts, entertainment and recreation sector. Secretary for Labour & Welfare Chris Sun said the labor market continues to improve alongside the revival of domestic economic activities, partly supported by phase II of the Consumption Voucher Scheme. Looking ahead, the labor market should improve further in the near term.

GNP fell 1.2% in second quarter

Hong Kong’s Gross National Income (GNI) and external primary income flows for the second quarter of 2022, fell by 1.2% from a year earlier to US$96.8 billion. The Gross Domestic Product (GDP), estimated at US$86.8 billion at current market prices in the same quarter, recorded a 0.4% decrease from a year earlier. The value of GNI, which denotes the total income earned by Hong Kong residents from engaging in various economic activities, was larger than GDP by US$10 billion in the second quarter of 2022, which was equivalent to 11.5% of GDP in that quarter. The city’s total inflow and outflow of primary income recorded an increase of 5.3% and 7.9% respectively, year-on-year. Separately, the volume of Hong Kong’s total exports of goods and imports of goods in July 2022 fell by 16.2% and 16.9% respectively over July 2021. Comparing the first seven months of 2022 with the same period in 2021, the volume of Hong Kong’s total exports of goods and imports of goods decreased by 8.8% and 8.3% respectively, while the prices increased by 9.1% and 9.4%. 


Government recruitment drive underway

The HKSAR Government is recruiting graduate grade civil servants for four graduate posts including Administrative Officer, Executive Officer II, Assistant Trade Officer II and Transport Officer II through Oct 7. The recruitment is open to all permanent residents of the HKSAR who meet the relevant entry requirements. Current final year undergraduates may also apply. People who wish to apply for any of the four posts must take the Basic Law & National Security Law Test (BLNST) and attain a pass result in order to be considered for appointments. Applicants in the US may take part in the requisite Common Recruitment Examination and the BLNST, to be held tentatively on Dec 10, in New York and San Francisco.  Details on the entry requirements, and other information, including the application forms can be found on the Civil Service Bureau's website and the government portal Gov.HK


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: 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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