July 15 - 21, 2019

INNOVATION & TECHNOLOGY

Embracing e-sports and innovation

The emerging e-sports industry presents new career paths ranging from professional players, technical experts, game developers to commentators, said Secretary for Innovation and Technology Nicholas W Yang at the opening ceremony of Digital Entertainment Leadership Forum 2019 (Jul 16). The city’s world-class ICT infrastructure, excellent experience, and track record in hosting large-scale international events, were key to the development of the new state-of-the-art e-sports competition venue in Cyberport.

BELT AND ROAD INITIATIVE

Key role for Hong Kong

Hong Kong has made key progress to participate and contribute to the Belt and Road Initiative (BRI). These efforts include launching the Green Bond Grant Scheme, signing of Free Trade Agreements and Investment Promotion and Protection Agreements with more trading partners, said Secretary for Commerce and Economic Development Edward Yau at a BRI joint conference in Beijing (Jul 19). He added that Hong Kong will further expand its overseas Economic & Trade Office network as well as enhance the Hong Kong Trade Development Council’s Belt & Road Portal. Speaking at the same conference, Secretary for Justice Teresa Cheng pointed out that Hong Kong, with its sound and robust legal system, international arbitration, and mediation legislation, can assume an important role as a deal maker and dispute resolver to serve the BRI.

INFRASTRUCTURE

First section of new rail line to open

The first section of the Shatin to Central Link project, will start operations early next year. This phased opening of the Tuen Ma Line, which covers three new stations at Hin Keng, Diamond Hill, and Kai Tak, is slated for the first quarter of 2020. The Tuen Ma Line extends the existing Ma On Shan Line from Tai Wai to the West Rail Line via East Kowloon.

EDUCATION

Students win silver medals at Physics Olympiad

Five Hong Kong students won five silver medals at the 50th International Physics Olympiad held in Tel Aviv, Israel (Jul 7 to 14). Congratulating the team on their performance, Secretary for Education Kevin Yeung said the Education Bureau will continue to support and nurture more students with talent and interest in STEM (science, technology, engineering and mathematics) to strengthen Hong Kong’s competitiveness globally.

ECONOMY

Key Indicators

Unemployment rate remains at 2.8% in the period between April and June, unchanged from the March-May period. The underemployment rate also remained the same at 1% in the two periods.

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: Have Hong Kong's capitalist system and way of life been preserved?

A: The Basic Law provides that the capitalist system and way of life shall remain unchanged. Hong Kong maintains a free and open market economy with a free flow of capital, goods, intangible assets, and a freely convertible currency. People's lifestyle remains the same as before. (BL Articles 5; 112; 115)

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