September 14 - 20, 2018

Trade

More support measures for Hong Kong firms amid trade war

The Government will keep up dialogue with business chambers and increase insurance coverage and credit support for Hong Kong companies amid the escalating US-China trade dispute, said Secretary for Commerce and Economic Development Edward Yau (Sep 19). China will impose a 5 to 10 per cent levy on US$60 billion worth of American goods, following an announced 10 per cent tariff levied on Chinese imports worth US$200 billion by the US. The latest tariffs would affect almost half of the Chinese products going to the US through Hong Kong, and 70 per cent of US goods going to the Mainland via the city.

Fintech

Entering new age of digitalized payments

Hong Kong consumers are bracing for a new age of cashless society. Since the launch of the Faster Payment System (Sep 17), they can make or receive instant payments  between different banks and e-wallet operators and in Hong Kong dollars and renminbi, using mobile phone numbers, email addresses or QR codes. With a mobile app “Hong Kong Common QR Code”, they can pay retail merchants via a single QR code. The system will bring new opportunities in retail payment and promote innovation in financial technology, said Chief Executive of Hong Kong Monetary Authority Norman Chan.

Immigration

Grant of visa following court ruling

The Government has revised the immigration policy to grant dependent visa to anyone who has entered a legal same-sex partnership overseas. Effective Sep 19, the policy was amended following the ruling of the Court of Final Appeal earlier this year. The revision concerns only immigration policy on applications for entry of non-local dependents. It does not affect any other policies of the government or any other rights under existing Hong Kong laws.

Innovation & Technology

Pact signed to enhance I&T collaboration

Hong Kong and Mainland China have signed two co-operation agreements which  further cement scientific and technological collaboration in six key areas, including scientific research and incubation of I&T industry (Sep 20). Under the agreements, both places will also explore the feasibility of setting up the Mainland-Hong Kong Joint Funding Scheme to support such collaborations.

Philanthropy

Call on business to foster caring society

Hong Kong is among the generous league, having ranked 5th out of 39 cities/countries in this year’s inaugural “Global Philanthropy Report”, published by the Harvard Kennedy School. Speaking at the Philanthropy for Better Cities Forum (Sep 20), Chief Executive Carrie Lam urged the business sector to embrace “creating shared value” with corporations finding business opportunities in solving social problems. The government is committed to fostering a caring society, with some 60% of recurrent budget spent on education, social welfare and medical services. The city’s spending on social welfare surged 86% in the past six years. Since its creation five years ago, the public-private partnership Social Innovation and Entrepreneurship Development Fund has provided close to US$16 million in 140 projects to support social entrepreneurs.

Arbitration

HK celebrates 60th anniversary of New York Convention on international arbitration

Hong Kong has commemorated 60 years of the New York Convention on international arbitration with a forum (Sep 20), where prominent legal experts and distinguished judges from around the world gathered to review the Convention and explore whether it needs to be modernized to meet the challenges and complexities. Secretary for Justice Teresa Cheng said that Hong Kong has been actively providing training for judges in the application of the Convention. Under the New York Convention, arbitral awards made in Hong Kong can be enforced in 159 Contracting States and also in the Mainland, by way of a mutual arrangement.

Health

International certifications for electronic health record system

Hong Kong’s Electronic Health Record Sharing System (eHRSS) has recently been internationally recognized in being awarded the ISO/IEC 27001:2013 certification, the latest global information security standard. The eHRSS is a voluntary and free system that facilitates public-private medical collaboration and promotes continuity of care as well as quality and efficiency of healthcare services. The scope of the eHRSS will be expanded to include Chinese medicine information and radiology images, and the development of a Patient Portal.

Arts & Culture

Asia premiere of underwater ensemble

Performing underwater? It’s a doddle for Between Music, the world’s first underwater ensemble from Denmark. The avant-garde group will present the Asia premiere of its concert “Aquasonic” in Hong Kong as part of the New Vision Arts Festival (Oct 26 -27). The audience can dive into this extraordinary underwater concert experience, which integrates arts and science and features custom-made instruments developed by the innovative group after years of experimenting with underwater music.

HKETONY Events

New York dragon boat teams donate US$15,000

A record six teams took part in this year’s Hong Kong Dragon Boat Festival in New York Charity Boat Race, raising US$15,000 for six non-profit groups which provide a range of services for the youth, the elderly and the underprivileged. Over its 28-year history, the Festival has raised over US$300,000 for local charities. Lauding the teams for their compassion and continued support, Director of HKETONY Joanne Chu said she looked forward to the next festival, scheduled for August 3-4, 2019.

Best young directors from HK on cultural immersion

Hong Kong Best New Director awardees Kearen Pang (2nd left) and Wong Chun (1st left) have met with veteran theater and documentary film producer Lily M. Fan (2nd right) in New York at the invitation of HKETONY Director Joanne Chu (center) (Sep 18). As Fellows of the Asian Cultural Council, Pang and Wong are in the city for a three-month program to explore the vibrant art and diverse cultural discourses. Fan has been involved in multiple Tony Award-winning plays and musicals. She won the 2016 Sundance’s Grand Jury Prize for the documentary Weine.

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:  What is the role of the People's Liberation Army in Hong Kong under the Basic Law?

A: The maintenance of public order in the HKSAR is the responsibility of the HKSAR Government. The People's Liberation Army stationed in the HKSAR is responsible for the defense of the HKSAR and does not interfere in the local affairs of the HKSAR. In addition to abiding by national laws, members of the garrison shall abide by the laws of the HKSAR. Expenditure for maintaining these military forces is borne by the CPG. (BL Article 14)

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Hong Kong Economic and Trade Office, New York

115 East 54 Street 10022 New York US