Hong Kong economy grows at fastest pace in nearly five years | Hong Kong’s economy in the first quarter grew by 5.9% year-on-year, accelerating from the revised 4.0% growth in the preceding quarter, and marking the strongest quarterly growth in nearly five years. On a seasonally adjusted quarter-to-quarter basis, real GDP rose notably by 2.9%. Looking ahead, Hong Kong’s economic growth outlook remains positive, underpinned by strong global demand for artificial intelligence-related electronics, sustained growth in visitor arrivals and robust cross-boundary financial activities. Relatively solid business and consumer sentiment was expected to continue supporting domestic demand. | |
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Supported by the Hong Kong Economic and Trade Office in New York (New York ETO), “The Grandmaster: Tony Leung” — a 13-film retrospective spanning four decades of Tony Leung Chiu-wai’s internationally acclaimed career — was presented at Film at Lincoln Center (FLC) in New York from April 29 to May 7. The programme showcased Leung’s collaborations with some of contemporary cinema’s most influential filmmakers and highlighted his impact on Hong Kong and global cinema. On May 6, FLC hosted a reception at Lincoln Ristorante to honour Leung and celebrate his decades-spanning career. The Director of New York ETO, Maisie Ho, congratulated Leung on his upcoming film release and praised him as one of Hong Kong’s most internationally recognised actors whose work has earned global acclaim. Leung also joined a special onstage conversation, “An Evening with Tony Leung”, at the Walter Reade Theater on May 5, where he reflected on his screen career from the Hong Kong New Wave era to his longstanding collaborations with leading international directors. In addition, he participated in audience Q&A sessions with director Ildikó Enyedi following screenings of their new film Silent Friend.
Photo credit: Courtesy of Film at Lincoln Center/Photo by Arin Sang-urai
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| Institutional bonds issued | The Hong Kong Special Administrative Region (HKSAR) Government announced (May 8) the successful pricing of about HK$27.6 billion (US$3.5 billion) worth of green bonds and infrastructure bonds under its Sustainable Bond Programme and Infrastructure Bond Programme. The multi-currency offering attracted around HK$239 billion (US$30.6 billion) in orders from investors across more than 30 markets, representing an oversubscription of about 8.6 times. Financial Secretary Paul Chan said the infrastructure bonds would help finance key projects including the Northern Metropolis, while green bonds would support Hong Kong’s development as a green and sustainable finance hub. He added that the Government would continue issuing longer-tenor Hong Kong dollar and renminbi bonds to support the development of fixed income and currency markets and promote renminbi internationalisation. The bonds were denominated in Hong Kong dollars, renminbi, US dollars and euros. | | IPO activity boosts HKEX first-quarter revenue and profit to record high | The Hong Kong Exchanges and Clearing Limited (HKEX) delivered record-high revenue and profit in the first quarter of 2026, supported by strong initial public offering (IPO) activity and rising secondary market turnover. HKEX Chief Executive Officer Bonnie Chan said (Apr 29) Hong Kong maintained its position as the world’s leading IPO venue, with robust Stock Connect activity. The exchange’s diversified business platform continued to perform strongly, with the London Metal Exchange (LME) and OTC Clear both reporting record trading and clearing volumes. Ms Chan said HKEX would continue advancing market reforms, expanding connectivity and strengthening its multi-asset ecosystem. | |
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| Strong growth in metals trade highlighted at LME Asia Metals Seminar | Speaking at the LME Asia Metals Seminar 2026 (May 7), Financial Secretary Paul Chan said Hong Kong was accelerating efforts to become an international commodity trading hub, supported for the first time under the National 15th Five-Year Plan. He noted that Hong Kong’s non-ferrous metals exports surged nearly 35% in 2025, with growth continuing at 170% year on year in the first quarter of 2026. The city’s LME warehousing network had expanded to 15 warehouses, with over 24,000 tonnes of metals already on warrant. Mr Chan added that the Government planned to introduce legislation in the first half of 2026 to provide a 50% profits tax concession for eligible commodity trading activities, while Hong Kong was also building a central gold clearing system and expanding airport gold storage capacity to over 2,000 tonnes within three years. | | CargoX Pilot Programme launched to advance trade finance digitalisation | The Hong Kong Monetary Authority launched (May 7) the CargoX Pilot Programme, with 21 participating banks exploring the use of cargo and trade data through the Commercial Data Interchange to enhance trade finance digitalisation and improve financing access for small and medium-sized enterprises. The pilot projects, to be carried out in 2026 and 2027, would focus on areas including cargo and trade data integration, multi-dimensional credit assessment, trusted data sharing and connectivity with key trade corridors. The initiative would help strengthen Hong Kong’s position as a leading trade and trade finance hub. | |
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| Applications open for Global Fast Track 2026 | Invest Hong Kong announced that applications for the ninth Global Fast Track 2026 are open until September 25, with the programme expanding to eight major verticals and introducing a new Online Market Readiness Programme and upgraded pitching competition. Anchored around Hong Kong FinTech Week x StartmeupHK 2026, the initiative offers business matching, pitching opportunities, mentorship and market-entry support for innovative technology companies. InvestHK said the expanded programme reinforces Hong Kong’s role as an international financial and technology hub and a launchpad for companies expanding into Asia and global markets. | | Hong Kong advances global mediation hub vision at IOMed summit | Hong Kong was committed to becoming a “global mediation capital” and would continue to strengthen co-operation with the International Organization for Mediation (IOMed), whose headquarters were based in the city, said Chief Executive John Lee at the Global Mediation Summit (May 8). He noted that the number of IOMed signatory states had increased from 37 to 41, while contracting states rose from eight to 13 since last October. Secretary for Justice Paul Lam added that Hong Kong had over 1,000 signatories to its “Mediate First” Pledge and that the Government had begun incorporating mediation clauses in government contracts. He also said Hong Kong was planning a new International Legal Service Building adjacent to the IOMed headquarters. | |
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| Asia Summit on Global Health opens in Hong Kong | The sixth Asia Summit on Global Health opened (May 11) in Hong Kong as part of the International Healthcare Week, bringing together healthcare professionals, investors, pharmaceutical companies and innovators from around the world. The two-day summit featured more than 90 speakers from 15 countries and regions and ran alongside the Hong Kong International Medical and Healthcare Fair at the Hong Kong Convention and Exhibition Centre. Speaking at the summit, Chief Executive John Lee said Hong Kong was accelerating its development as a health and medical innovation hub through expanded clinical trial capabilities, regulatory reforms and major investment in life and health technology. He highlighted the Greater Bay Area International Clinical Trial Institute, Hong Kong’s “1+” drug registration mechanism, and plans to establish the Hong Kong Centre for Medical Products Regulation by year-end. | | New Medical Education and Research Complex breaks ground | The Hong Kong University of Science and Technology held a groundbreaking ceremony on April 28 for its Medical Education and Research Complex, which would serve as the principal teaching and research base for Hong Kong’s third medical school during its initial phase. Chief Executive John Lee said the new medical school would strengthen Hong Kong’s healthcare capacity, nurture high-calibre medical talent and support the city’s development as an international hub for talent under the National 15th Five-Year Plan. The eight-storey complex, spanning about 6,000 sqm, would feature simulation and clinical skills centres, teaching and research laboratories, lecture theatres and collaborative learning spaces. The building was expected to be completed by mid-2028, in time for the first cohort of medical students. | |
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| Hong Kong welcomes 1.19 million visitors during Labour Day Golden Week | Hong Kong welcomed around 1.19 million visitors over the Labour Day Golden Week (May 1-5), representing an 8% year-on-year increase. Mainland visitors reached around 1.01 million, an increase of 10%. Chief Secretary Chan Kwok-ki said the surge in visitors boosted the retail, catering and hotel sectors, with some shopping malls recording double-digit growth in sales and restaurants in tourist areas reporting business growth of about 20%. The overall hotel occupancy rate reached 90%, slightly higher than last year. | | ADMINISTRATION AND CIVIC AFFAIRS | | Government condemns attacks over press freedom index and “award” | The HKSAR Government (May 1) strongly condemned attempts by an anti-China organisation and foreign media to sugarcoat the criminal acts of national security offender Lai Chee-ying and to slander and smear Hong Kong through a so-called press freedom index and award. A Government spokesman stressed that Lai and other defendants were convicted only after a fair and open trial, involving 156 hearing days, over 2,220 pieces of evidence and more than 80,000 pages of documents. The Government said the case had nothing to do with freedom of the press, adding that Hong Kong citizens continue to enjoy freedoms protected under the Basic Law and the Hong Kong Bill of Rights. | |
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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 private shipping companies allowed to continue operating freely in the HKSAR?
A: Yes. With the exception of foreign warships, access for which requires the special permission of the Central People’s Government, ships shall enjoy access to the ports of the HKSAR in accordance with the laws of the Region. Private shipping businesses and shipping-related businesses and private container terminals in the HKSAR may continue to operate freely. (BL Article 126, 127)
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