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FEBRUARY 28 - MARCH 6, 2023

COVID-19

Hong Kong has lifted all mandatory mask-wearing requirements on March 1, enabling the society to resume normalcy in full. Citizens are no longer required to wear masks mandatorily on public transport , within MTR paid area or in specified public place including both indoor and outdoor areas. 

HKETONY EVENT

The upcoming Asian Pop-Up Cinema (APUC) Season 16 in Chicago will feature six films from Hong Kong. Kicking off the film festival is a pre-launch special event (Mar 14) featuring the North American premiere of “Where the Wind Blows”, directed by Philip Yung and starring Aaron Kwok, who will be presented with the “Award for Excellent Achievement in Film” by APUC. The remaining five films to be screened include the Centerpiece Film “A Guilty Conscience” (Mar 31), “The Sparring Partner” (Apr 1), the US premiere of “Remember What I Forgot” (Apr 1), “Port of Call” (Apr 1) and the North American premiere of “Lost Love” (Apr 1). Reserve your tickets now!

ECONOMY

Hong Kong’s total port cargo throughput in 2022 fell 10.1% year-on-year to 192.1 million tonnes. Within this total, inward port cargo and outward port cargo dropped 10.3% and 9.9% compared with the whole year of 2021 to 121.1 million tonnes and 71 million tonnes respectively. During the year, the port of Hong Kong handled 16.69 million TEUs of containers, representing a year-on-year decrease of 6.3%. The number of ocean vessel arrivals rose 2.9% to 16,735.

Hong Kong’s total retail sales in January grew by 7% year-on-year to a provisionally estimated US$4.64 billion, with online sales accounted for 8.2%. The year-on-year comparison of the figures with those for January 2022 might have been affected to a certain extent by the fact that Lunar New Year fell in January this year. 

The total assets of the Hong Kong Exchange Fund amounted to US$544.7 billion as of Jan 31. This is US$30.4billion higher than that at the end of December 2022. Foreign currency assets increased by US$20.4 billion and Hong Kong dollar assets increased by US$10.1 billion. The rise in foreign currency assets was mainly due to the mark-to-market revaluation on investments, the proceeds from the issuance of Government Green Bonds and the increase in the month-end balances of unsettled purchase of securities. Separately, a surplus of US$13.6 billion was recorded in January. Expenditure for the 10-month period amounted to US$82.5 billion and revenue US$64.3 billion. The fiscal reserves stood at US$ 112.8 billion as of Jan 31.

ADMINISTRATION AND CIVIC AFFAIRS

The Hong Kong Special Administrative Region (HKSAR) Government strongly opposed a so-called “statement” issued by the heads of the United States (US) Congressional-Executive Commission on China. Hong Kong is a society underpinned by the rule of law and has always adhered to the principle that laws must be obeyed and lawbreakers held accountable. 

Chief Executive John Lee attended (Mar 5) the opening meeting of the first session of the 14th National People's Congress. He said the HKSAR Government will explore opportunities brought about by national strategies including the National 14th Five-Year Plan, the Outline Development Plan for the Greater Bay Area and the Belt & Road Initiative, with a view to promoting Hong Kong’s active integration into national development and enhancing the city’s international competitiveness.

BASIC LAW

The Basic Law (BL) is the constitutional document of the HKSAR. It provides the guarantees to maintain our existing way of life, including socio-economic development, the rights and duties of Hong Kong people, the rule of law and other areas. The Basic Law was put into effect on July 1, 1997.

Q: Are Mainland laws applicable to Hong Kong?

A: Generally speaking, national laws of the Mainland China are not applied in the HKSAR. Article 18(2), (3) and (4) of the Basic Law provide for application of national laws in the HKSAR. Such national laws as applied in the HKSAR shall be listed in Annex III to the Basic Law. Currently, a total of 14 national laws are so listed in Annex III, all of which concern matters outside the limits of the HKSAR’s autonomy. They include national laws on the capital, calendar, national anthem, national flag, national day, national emblem, national security, territorial sea and contiguous zone, exclusive economic zone and continental shelf, nationality, garrisoning, diplomatic and consular privileges and immunities as well as judicial immunity of assets of foreign central banks. (BL Article 18; Annex III)