July 2 - 7, 2019

BILATERAL TIES

Strong Hong Kong-US partnership

Hong Kong is a strong key partner to the United States, as evidenced by solid bilateral trade and economic ties and long-standing and cordial relationship in various aspects including counter-terrorism, money-laundering and strategic trade controls, said Chief Secretary Matthew Cheung at a US Independence Day reception (Jul 2). Hong Kong registered trade surplus valued at US$33.8 billion with the US, which was Hong Kong's second largest merchandise trading partner in the world after Mainland China. Some 1,400 US companies have chosen Hong Kong as the base for their regional offices and regional headquarters, and that about 85,000 American citizens are calling Hong Kong home – a vote of confidence for the Asia’s world city.

HKETONY EVENTS

Hong Kong film talents attend New York Asian Film Festival

Hong Kong action choreographer and director Yuen Woo-ping received the Star Asia Lifetime Achievement Award at the New York Asian Film Festival (Jul 1), in recognition of his substantial contribution to contemporary kung-fu and action movies. Speaking at the award presentation, Director of the Hong Kong Economic and Trade Office in New York Joanne Chu praised Yuen for his tremendous contribution to the development of Hong Kong action cinema, and for bringing unique Hong Kong kung-fu movies to the world stage.

Actress Jade Leung and actor Michael Tong attended the festival for the North American premiere of “The Fatal Raid” (Jul 5). During the post-screening Q&A session, they spoke on how they had prepared for the film and their respective film careers.

International premiere of “White Storm 2”

The much anticipated Hong Kong film “The White Storm 2 – Drug Lords” will have its international premiere as the closing night film at this year’s New York Asian Film Festival. Starring Andy Lau and Louis Koo, and directed by Herman Yau, this epic dog-eat-dog “antiheroic bloodshed” will be shown at the SVA Theater on July 14. Grab your tickets today!

INNOVATION & TECHNOLOGY

Leading cancer treatment solution provider opens lab in HK

ACT Genomics, an innovation-driven cancer solution provider in Asia, opened its Next Generation Sequencing laboratory at the Hong Kong Science Park (Jul 4) to serve the clinical, pharmaceutical and research communities in the city and Asia. It also hopes to capture the tremendous opportunities in the Greater Bay Area in future.

ECONOMY

Key indicators

• The value of total retail sales in May, provisionally estimated at US$5.1 billion, fell 1.3% year-on-year. Retail sales’ outlook would likely be clouded by cautious consumption sentiment amid an uncertain global economic environment.

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 the laws previously in force in Hong Kong been maintained?

A: The Basic Law provides that laws previously in force in Hong Kong, that is, the common law, rules of equity, ordinances, subordinate legislation and customary law, shall be maintained and adopted as laws of the HKSAR, except for any that contravenes the Basic Law, and subject to any amendment by the HKSAR legislature. (BL Articles 8; 18; 160)

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Hong Kong Economic and Trade Office, New York

115 East 54 Street 10022 New York US