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Hong Kong: Open, safe, stable for global business

Hong Kong is experiencing economic upgrading and transformation, with more opportunities than challenges lying ahead, said Financial Secretary Paul Chan on Jul 30 as he unveiled a business report that elaborates on the institutional advantages Hong Kong enjoys under the “one country, two systems” principle, making the city a desirable location for businesses. The “Report on Hong Kong's Business Environment: Unique Strengths under 'One Country, Two Systems’” outlines the city’s latest developments and strengths, comprehensively showcasing its open, safe, stable, efficient and internationalised business environment. He emphasised that the implementation of the Hong Kong National Security Law, and the Safeguarding National Security Ordinance, has had a positive impact on the city’s business environment, making it a safe harbour for attracting international capital and investment. He also highlighted the Government’s efforts in attracting enterprises, investment and talent. From January 2023 to the first six months of 2025, Invest Hong Kong assisted over 1,300 overseas and Mainland companies to set up or expand their business in Hong Kong, bringing in direct investment of more than HK$160 billion (US$20.5 billion).

HKEX listing rules updated

Hong Kong updated some of its listing requirements, effective Aug 4. The key changes include lowering the minimum proportion of offered shares for institutional investors to 40% from an originally proposed 50%; offering a flexible clawback mechanism; and setting the minimum public float of mainland companies at 10% or HK$3 billion (US$385 million). The new rules are based on feedback following the conclusion of a public consultation by the Hong Kong Exchanges and Clearing (HKEX). The continual updates in Hong Kong’s listing framework will enhance the city’s global competitiveness and align with international standards to attract new listings. The HKEX is continuing to seek market feedback with the launch of further consultation on ongoing public float requirements through Oct 1.

Stablecoins Ordinance in effect

Hong Kong's Stablecoins Ordinance came into effect on Aug 1. This marks the implementation of the regulatory regime and introduces a robust regulatory framework for stablecoin issuers, providing suitable guardrails for relevant stablecoin activities and facilitating the sustainable development of the stablecoin and digital asset ecosystem in Hong Kong. To date, the Hong Kong Monetary Authority (HKMA) has not issued any licenses to stablecoin issuers. In the future, the public may refer to the register of licensed stablecoin issuers on the HKMA’s website. The public is advised to stay vigilant against any individuals or entities claiming to be regulated or licensed stablecoin issuers in Hong Kong, or those claiming to be in the process of applying for a licence.

Hong Kong’s economy grows 3.1%

Hong Kong’s economy grew 3.1% in the second quarter of 2025, up slightly from 3% in the preceding quarter, according to latest advance estimates (Jul 31) on GDP. Total exports of goods saw accelerated growth with the resilient external demand and the temporary easing of US tariff measures that led to some rush shipments. Exports of services continued to expand notably, amid strong inbound tourism, increase in cross-boundary traffic, and vibrant financial and related business service. Looking ahead, steady economic growth in Asia, particularly in the Mainland, combined with the Government’s measures to bolster consumption, attract investment, diversify markets, and promote economic growth, will continue to support the economy. However, external risks remained, including the renewed US tariff hikes affecting global trade and inflation, as well as uncertainty around the timing of US interest rate cuts impacting investment sentiment.

Tickets to HK Ballet’s The Butterfly Lovers selling fast

Catch the captivating US premiere of Hong Kong Ballet’s critically-acclaimed production The Butterfly Lovers at the David H. Koch Theater, Lincoln Center, from Aug 22 to 24. Reimagined by an international creative team led by Artistic Director Septime Webre, Choreographer-in-Residence Hu Song Wei Ricky, and Mai Jingwen, this mesmerising ballet retells the poignant Chinese folklore of Liang Shanbo and Zhu Yingtai, a young woman who disguises herself as a boy to pursue her education and her forbidden romance with Liang. Winner of six major honours at the 2025 Hong Kong Dance Awards, the production weaves together inspiring dance, modern Chinese aesthetics and eternal hope. With stunning sets and costumes by Academy Award winner Tim Yip, and an original score, performed live under the baton of the prodigious conductor Lio Kuokman, this performance is a moving tribute to a world where tradition and modernity beautifully coexist. Tickets start at $39 and are available online or at the theater’s box office.

The largest Hong Kong Dragon Boat Festival in the US will return this weekend (Aug 9-10) at Flushing Meadows Corona Park as it celebrates its 35th anniversary! First started by the Hong Kong Economic and Trade Office in New York (New York ETO), the Hong Kong Dragon Boat Festival in New York will feature exhilarating dragon boat races involving over 180 teams from across the country. This year, Philippine Consulate General in New York will take part in the invitational race for the first time. For members of the public, there will be land carnival activities such as lion dances, martial arts and handcraft demonstrations, live music, and Hong Kong street food. Festivities already began on Jul 30 with a traditional “awakening ceremony” in New York’s Central Park, where Director of New York ETO Maisie Ho, New York City Parks Commissioner Iris Rodriguez-Rosa and representatives of major sponsors, took part in the symbolic “eye-dotting” ceremony believed to awaken the dragon’s spirit and bring good fortune to the festival’s participants.

Hong Kong film The Way We Talk wins Audience Award at NYAFF

Congratulations to The Way We Talk, the latest film by Hong Kong director Adam Wong, for winning this year’s Audience Award at the New York Asian Film Festival (NYAFF), which wrapped up its 17-day run on Jul 27. The sold-out screening touched audiences with its heartfelt coming-of-age story about three young deaf individuals navigating life in Hong Kong. This year’s NYAFF featured 10 remarkable films as part of the “Hong Kong Panorama” film series with the support of New York ETO. They recorded some of the highest average attendance at the festival. The screenings of Papa, Young and Dangerous, Last Song for You, The Last Dance: Extended Version and The Way We Talk were sold-out.

Visitors to Hong Kong rise in 1st half of 2025

Hong Kong welcomed 3.48 million visitor arrivals in June, an 11% increase year-on-year. This brings the total number of arrivals in the first half of 2025 to 24 million visitors, representing a year-on-year increase of 12%. Visitor arrivals to the city grew steadily in the first half of the year, with Mainland Chinese visitors accounting for about 75% of the total visitor arrivals. About 5.84 million visitors came from the rest of the world, reflecting a 17% increase over the same period last year.

Hong Kong Talent Engage website revamped

Hong Kong Talent Engage (HKTE) revamped (Jul 31) its website, with clearer categorisation and a new interface, to enable outside talent to efficiently and precisely search for practical information on talent admission schemes, settling in Hong Kong and career development. The updated site centres on the core themes “Work”, “Live” and “Thrive”, offering enhanced features such as an expanded guide to living in Hong Kong; a new dedicated page for HKTE activities, providing one-stop registration services; an enhanced recruitment platform network and a new chatbot function. The HKTE also changed its logo, to align with the three core themes of the latest website to highlight vibrancy and creativity, symbolising talent settling and thriving in Hong Kong, while embracing opportunities.

Fencer Ryan Choi wins historic gold at World Championships

Fencer Ryan Choi made history by winning Hong Kong’s first-ever gold medal at the International Fencing Federation (FIE) World Championships, with a commanding 15-9 victory over Kirill Borodachev of Russia in the men’s individual foil final in Tbilisi, Georgia. Secretary for Culture, Sports and Tourism Rosanna Law congratulated Choi on winning the gold medal. “Ryan made impressive performance in the competition, demonstrating Hong Kong athletes’ charm and perseverance,” she said in a statement. Hong Kong will be hosting the 2026 FIE World Championships. (Photo credit: FIE - International Fencing Federation)

Hong Kong students shine at Physics and Math Olympiads

Two teams of Hong Kong students achieved outstanding results in the 55th International Physics Olympiad (IPhO 2025) and the 66th International Mathematical Olympiad (IMO 2025), winning a total of six gold, four silver and one bronze medal. At the IPhO 2025, held in France (Jul 18 – 24), with 415 students from 89 countries or regions, the Hong Kong team secured 4 gold medals and one silver. At the IMO 2025 in Australia (Jul 10 – 20), among 630 participating students from 110 countries or regions, the Hong Kong team took home 2 golds, 3 silvers and 1 bronze. Secretary for Education Choi Yuk-lin highlighted the students’ outstanding performance as a testament to the concerted efforts of the government and various stakeholders in promoting STEAM (science, technology, engineering, the arts, and mathematics) and gifted education in Hong Kong.

Hong Kong defends lawful pursuit of national security offenders

The Hong Kong Special Administrative Region (HKSAR) Government said (Jul 27) it strongly opposes and disapproves of smears from officials in the US, Canada and Australia, and anti-China organisations, regarding its lawful acts to pursue individuals wanted in connection with national security offences who have fled Hong Kong. In a statement, the Government explained that the Hong Kong National Security Law (HKNSL) applies to Hong Kong permanent residents, and to entities based in the city and also to non-residents who commit relevant offences abroad against the HKSAR. It emphasised that the Hong Kong Police Force has a responsibility to pursue, in accordance with the law, people suspected of committing offences under the HKNSL outside of Hong Kong.

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: Can Hong Kong conclude and implement agreements with foreign states and regions or international organisations, and participate in international conferences?

A: Yes. Hong Kong plays an active role in the international arena and maintains close contact with its international partners. The HKSAR may under the authorisation of the Central People’s Government (CPG) conclude certain agreements with foreign states or regions, or may on its own, using the name “Hong Kong, China”, maintain and develop relations and conclude and implement agreements with foreign states and regions and relevant international organisations in the appropriate fields. (BL Articles 96; 133; 151; 152; 155)