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JANUARY 4 - 9, 2023

EVENTS

Led by its Artistic Director Septime Webre, the 70-plus strong Hong Kong Ballet has already arrived in New York to gear up for their much anticipated US tour of Romeo + Juliet. Tickets for the upcoming performances at New York City Center on January 13 and 14 are already sold out!  After the New York stop, Hong Kong Ballet will travel to Chapel Hill, North Carolina, where it will perform at Carolina Performing Arts on January 20 and 21. In Webre’s new Romeo + Juliet, Shakespeare’s timeless tale of star-crossed lovers is given a fresh and thought-provoking retelling. Set in 1960s Hong Kong, the choreography presents a stunning visual feast from intense street battles to elegant dancers in sumptuous cheongsams. Accompanied by Prokofiev’s dramatic score, this adaption is especially relevant for contemporary audiences as it fuses dance and drama against a backdrop of a world in flux. This is a show that will not disappoint you!

COVID-19

The first-phase of normal travel between Hong Kong and Mainland China began on January 8. All the relevant boundary control points were operating well and people could travel across the boundary smoothly on the first day. Relevant authorities will closely monitor the situation, including the arrangements before and after the Lunar New Year holidays, to come up with a plan for realizing the full resumption of normal travel between Hong Kong and the Mainland in a secure and manageable way. 

ADMINISTRATION & CIVIC AFFAIRS

Hong Kong residents born in 1954 or before and holding the old form of smart identity card should apply for a new smart identity card by February 11, 2023, while the collection service of new smart identity cards at Smart Identity Card Replacement Centres will be maintained until March 3, 2023. Eligible residents who are absent from Hong Kong during their call-up period can apply within 30 days of their return to the city. Details of the Replacement Exercise can be found on the website or by calling the inquiry hotline at +852-2824-6111.

ECONOMIC INDICATORS

Hong Kong’s foreign currency reserves amounted to US$424 billion at the end of December 2022, compared to US$423.2 billion a month earlier. The total foreign currency reserve assets of US$424 billion represent over five times the currency in circulation or about 41% of Hong Kong dollar M3.

In November, retail businesses softened with the value of total retail sales falling by 4.2% year-on-year, but it held largely stable for October and November combined. Looking ahead, the tightened financial conditions will continue to weigh on local consumption demand, but the further relaxation of social distancing measures and continued improvement in labor market conditions will provide support.

BASIC LAW

The Basic Law (BL) is the constitutional document of the Hong Kong Special Administrative Region. 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: Can foreign enterprises participate fully in Hong Kong’s economy?

A: Yes. Hong Kong welcomes and encourages the participation of foreign enterprises, and provides a level playing field for all. There are no foreign exchange controls in Hong Kong and no restrictions on the trading of gold, securities, futures and the like. The Basic Law stipulates that Hong Kong shall maintain the status of a free port, pursue the policy of free trade and safeguard the free movement of goods, intangible assets and capital. (BL Articles 112; 114; 115)