December 1 - 7, 2017

Business/ Finance /Economy

First Saudi visit

Chief Executive Carrie Lam has met with HRH Crown Prince Mohammed bin Salman of Saudi Arabia and the country’s finance and energy ministers with a view to fostering closer business ties. She also called on HM King Salman bin Abdulaziz Al Saud, King of Saudi Arabia. In her first official visit to Riyadh, she called on enterprises to set up offices in Hong Kong and leveraged on the city’s professional and financial services to expand their businesses.


Students doing well in international test

Hong Kong students are among the world’s top three in reading literacy, according to the Progress in International Reading Literary Study 2016 conducted by UNESCO and the International Association for the Evaluation of Educational Achievement. It measured the reading literacy of fourth grade students in their native tongue.  The Hong Kong education officials noted that in contrast with results in other regions, family background and socio economic status had little effect on the performance of Hong Kong students, proving the uniform quality of the city’s school system.


Bowling team strikes gold

Hong Kong tenpin bowling team has won the gold medal for the first time at the 2017 World Bowling Championships in Las Vegas (Dec 3). The men’s trio of Eric Tseng, Wu Siu-hong and Michael Mak defeated Taiwan in the championship final to capture the gold medal. Eric teaming up with Lau Kwun-ho won silver in Men's Doubles, while Chan Shuk-han won a bronze in Women's Singles.

Squash team makes history

Hong Kong men’s squash team medaled for the first time in a world championship, taking home the bronze medal at the 2017 World Team Championship in France (Dec 3). Max Lee was finally bested by Karim Abdel Gawad of Egypt after a formidable match that was forced into a total of five games.  Coach Chris Robertson was more than happy with the results, noting the Hong Kong team had “played with plenty of attack and no fear” in particular Lee.

E Formula race returns to Hong Kong

The E Formula race has returned to Hong Kong for the second year without a hitch. In contrast to last year, the E-Prix event, held on Dec 2-3, was expanded to two races, which is the first time any Asian city has hosted a double header.  Over 1,000 spectators gathered at the E Village venue in Tamar, and fans without tickets took creative means to take part in the spectacle, gathering at vantage points such as the rooftop garden of the IFC Mall to enjoy panoramic views.  


Revamped light show dances to majestic music

The revised ‘A Symphony of Lights’ multimedia show on the façade of buildings on both sides of the Victoria Harbour has been launched to the applause of thousands of tourists and locals (Dec 1). Backed by the enchanting music performed by the Hong Kong Philharmonic Orchestra, the nightly audio visual extravaganza will be shown every night at 8 PM.

Basic Law

Hong Kong and its Basic Law

The Basic Law (BL) is the constitutional document of the Hong Kong Special Administrative Region (HKSAR). Put into effect on July 1, 1997, it enshrines within a legal document the important concept of “One Country, Two Systems.”

Q: Has the HKSAR Government maintained complete control over fiscal and economic policies and safeguarded 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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