December 22, 2017 - January 4, 2018

Finance

Green finance scheme welcomed

The Hong Kong Quality Assurance Agency has launched the first Green Finance Certification Scheme which aims to provide third-party conformity assessments for green finance issuers. Secretary for Financial Services & the Treasury James Lau welcomed the move, saying that the development of green finance could support sustainable development and combat climate change. The agency has made reference to international and national standards on green finance in developing the certification scheme.

Volvo Ocean Race

Riding the crest of a wave

Hong Kong has been in full gear in welcoming the first Volvo Ocean Race to its famed Victoria Harbour later this month. The Hong Kong Stopover (Jan 17 – 31) will feature a myriad of sailing races, activities, concerts, entertainment and exhibitions right on the shoreline with the city’s iconic cityscape providing a dazzling backdrop. Local Hong Kong team Sun Hung Kai/Scallywag, skippered by Hong Kong-based Aussie David Witt, is competing in this epic race. The teams will also make a stop at the picturesque Newport, RI, the only American stopover, between May 8 and 20.

Celebrations

Hong Kong ushers in 2018 with dazzling fireworks

Hundreds of thousands of spectators gathered on both sides of Victoria Harbour to ring in the New Year, cheering on a spectacular fireworks show that was the biggest in the city’s history. The celebration capped off an eventful year which marked the 20th anniversary of the establishment of Hong Kong SAR.

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: Can foreign enterprises still 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)

 

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