February 11 - 17, 2017

Economy

Hong Kong remains the world's freest economy, for 23rd year

Hong Kong remains the world’s freest economy, according to the latest 2017 Index of Economic Freedom compiled by The Heritage Foundation. It is the 23rd consecutive year the city has topped the Index since its launched in 1995. The overall score rose by 1.2 point to 89.8. Singapore (88.6) and New Zealand (83.7) ranked second and third, respectively.

Fashion

Vivienne Tam’s Hong Kong-inspired collection receives rave reviews

Inspired by the electrifying energy of Hong Kong, the Fall/Winter collection of Vivienne Tam has received rave reviews since its launch in the New York Fashion Week on February 15. The Hong Kong Economic and Trade Office in New York is delighted to have worked with the international fashion designer, who grew up and studied in Hong Kong, on her latest venture as the city is in full gear to celebrate the 20th Anniversary of the establishment of the Hong Kong SAR.

Hong Kong brands showcased in New York Fashion Week 

Three young Hong Kong brands - namesake of Harrison Wong; Loom Loop; and Cynthia & Xiao - were also showcased in the New York Fashion Week on February 15.  Harrison Wong and Polly Ho and Andy Wong of Loom Loop returned to NYFW after taking part in the first Fashion HK show held by Hong Kong Trade Development Council last year. Cynthia Mak and Xiao Xiao were in New York for the first time.

Business

New York tops the list of states exporting to Hong Kong in 2016

New York ranks as the biggest exporter to Hong Kong among the 31 states on the East Coast under Hong Kong Economic and Trade Office in New York’s jurisdiction in 2016, despite a drop in value of goods over 2015, according to the latest figures released by US Commerce Department. The top three exports are miscellaneous manufacturing, used or second-hand merchandise, and computers and electronics . Hong Kong remains the 9th largest export destination for US goods in 2016.

NYETO Events

Fostering closer education ties with Atlanta

In a visit to Atlanta on February 16, Hong Kong Commissioner to the United States Clement Leung met with Dr. Stuart M. Zola, Interim Provost and Executive VP of Academic Affairs of Emory University and discussed potential collaboration in IT as well as academic and research cooperation between Emory University and higher institutions in Hong Kong. He also spoke about the abundant opportunities that Hong Kong presents to a group of Emory students. During a panel discussion at Emory University, HKETONY Director Steve Barclay gave a short introduction about the Basic Law and the important concept of “One Country, Two Systems” which underpins the success of Hong Kong.  The panel was organised by the university’s East Asia Collective to explore issues and concerns on Hong Kong since the Handover.

HKETONY welcomes Year of the Rooster in Atlanta

More than 100 guests from Atlanta’s academic, business and political sectors were on hand to celebrate the Chinese New Year at a reception hosted by the HKETONY on February 16. Hong Kong Commissioner to the United States Clement Leung was the guest of honor. In the reception, Director of HKETONY Steve Barclay highlighted the trade ties between Hong Kong and Georgia.

Arts and Culture

Young trombonist to debut at Lincoln Center on Saturday

Giuseppe Fu, from Hong Kong, will perform Eric Ewazen's Concertino for Bass Trombone (world premiere) with the Pre-College Orchestra at the Peter Jay Sharp Theater, The Juilliard School at Lincoln Center on February 18. Fu is the first bass trombonist to win the Open Concerto Competition at Juilliard School. Admission is free. Event link:

https://events.juilliard.edu/event/1908/pre-college-orchestra/?date=36671

Basic Law

Hong Kong and its Basic Law

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

Q: Is Hong Kong still a free port and a separate customs territory?
A:Ships of all nations regularly call into Hong Kong which is virtually a duty-free port. The HKSAR, using the name “Hong Kong, China”, is a member in its own right of the World Trade Organization and the World Customs Organization. Hong Kong remains a separate customs territory, and the boundary between the Mainland and the HKSAR is clearly delineated and properly managed. Export quotas, tariff preferences and other similar arrangements, which are obtained or made by the HKSAR or which were obtained or made and remain valid, shall be enjoyed exclusively by Hong Kong. (BL Articles 114; 116; 126)