Hong Kong Economic and Trade Office, New York
Hong Kong

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What's New

   
HK to participate at 2nd Belt and Road Forum

Chief Executive Carrie Lam will lead a high-level Hong Kong delegation to the second Belt & Road Forum for International Cooperation, which will be held in Beijing (Apr 25 - 27). The forum will discuss development policy co-ordination, infrastructure connectivity, sustainable development and other topics of common interest. Mrs Lam said Hong Kong’s participation will enhance its role and position as a key link for the Belt & Road Initiative. Details here.

HK to participate at 2nd Belt and Road Forum
   
Unemployment stays at 2.8%

Hong Kong’s labor market stayed tight in January – March 2019, with the seasonally adjusted unemployment rate and the underemployment rate staying unchanged at 2.8% and 1.0% respectively. Looking ahead, Secretary for Labour and Welfare Law Chi-kwong (Apr 18) expected the labor market to remain largely stable in the near term. Details here.

Unemployment stays at 2.8%
   
HK: International arbitration hub

Hong Kong is determined to continue enhancing itself as an international hub for legal and dispute-resolution services, said Chief Executive Carrie Lam at the International Dispute Resolution Conference 2019 (Apr 17). Aside from dedicated training for mediators, the city is also deploying innovation and technology in dispute resolution. Mrs Lam added that Hong Kong will be implementing the world’s first online deal-making and dispute-resolution platform for cross-border commercial and trade disputes, electronic Business Related Arbitration and Mediation (eBRAM), in hopes of cutting arbitration costs by removing face-to-face meetings and long-distance travel. Details here.

HK: International arbitration hub
   
Extradition law changes needed urgently

Speaking ahead of Executive Council meeting (Apr 16), Chief Executive Carrie Lam reiterated the two purposes of amending the Fugitive Offenders Ordinance and the Mutual Legal Assistance in Criminal Matters Ordinance. The first is to provide a legal basis to deal with the Taiwan case, and the other is to plug a loophole in the existing arrangements for the return or the surrender of fugitive offenders. No matter what the circumstances may be, the Government will continue to improve the current legal framework to discharge an international obligation that will help to safeguard and uphold the rule of law and justice in Hong Kong. Details here.

Extradition law changes needed urgently
   
Film industry to be bolstered

The Government welcomed the Central authorities’ five relaxation measures to further facilitate the entry of Hong Kong films and film practitioners into the Mainland market, and expanding markets for film industries of the two places. Secretary for Commerce & Economic Development Edward Yau said (Apr 16) he believed Hong Kong’s film industry would take full advantage of the new measures, while continuing to leverage existing advantages, to expand Mainland and overseas markets and further promote the brand of Hong Kong Films. Details here.

Film industry to be bolstered
   
Jan, Feb exports dip 4.8% y-o-y

Total exports of goods for the first two months of 2019 decreased by 4.8% compared with the same period last year (Apr 16). The volume of imports of goods decreased by 6.7%. Details here.

Jan, Feb exports dip 4.8% y-o-y
   
Tech heavyweights gather at HK’s Internet Economy Summit

Chief Executive Carrie Lam said Hong Kong embraces innovation and technology as the city’s new growth engine with renewed commitment to increase R&D capability. Addressing renowned experts, industry leaders and government officials gathering at the two-day Internet Economy Summit (Apr 15-16), Mrs Lam said the government R&D expenditure as a ratio to GDP will be doubled to 1.5 per cent by 2022. In parallel, there has been encouraging response from international firms, universities and research institutions to set up their laboratories in Hong Kong, especially in the health technologies and AI and robotics research clusters. Details here.

Tech heavyweights gather at HK’s Internet Economy Summit
   
HK wins awards at 47th International Exhibition of Inventions of Geneva

Hong Kong enterprises have garnered multiple awards at this year’s 47th International Exhibition of Inventions of Geneva (Apr 10-14), including the Grand Prize for a recyclable lithium car battery that does not create any pollution throughout its life cycle. The world’s first robot system for replacing and collecting traffic cones and warning lanterns for road works, by Hong Kong Productivity Council and the Highways Department, earned an Honorable Mention and a Gold Medal with Congratulations of the Jury. The robotic system is tailor-made for busy road conditions and aimed at improving worksite safety. Details here.

HK wins awards at 47th International Exhibition of Inventions of Geneva
   
FS concludes US visit

Financial Secretary Paul Chan met with innovation and technology (I&T) firms as well as a related organization to explore how to spur Hong Kong’s economic development through further promoting I&T. On the last day of his visit in San Francisco, Mr Chan said Hong Kong’s tech and innovation push involves multiple fronts, namely enriching the talent pool, increasing R&D capability, and building a solid ecosystem. He encouraged US tech companies to leverage Hong Kong’s connectivity to springboard new ventures in the Guangdong-Hong Kong-Macao Greater Bay Area and beyond. Details here.

FS concludes US visit
   
HKMA, IFC ink landmark deal on green finance

The Hong Kong Monetary Authority (HKMA) has signed a MOU (Apr 11) with the International Finance Corporation (IFC), a member of the World Bank Group, in Washington DC to co-organize IFC’s Sixth Annual Climate Business Forum in Hong Kong in early 2020. The agreement signifies HKMA’s commitments toward green finance and establishing Hong Kong as a global hub for environmentally-aware investments.
Details here.

HKMA, IFC ink landmark deal on green finance
   
Secretary Chief speaks on extradition amendments

Speaking to the media (Apr 12), Secretary for Security John Lee said the Government will ensure that any person, who may be subject to extradition, will have his/her legal and human rights fully protected. These safeguards are currently contained in the present Fugitive Offenders Ordinance, which has been in operation smoothly and successfully in the past almost 22 years. Details here.

Secretary Chief speaks on extradition amendments
   
FS promotes I&T co-operation in San Francisco

Financial Secretary Paul Chan promoted innovation and technology (I&T) cooperation between Hong Kong and the US and encouraged venture capitalists to look to Hong Kong for investment opportunities as he began his itinerary in San Francisco (Apr 10), He said that the Government has devoted resources to take advantage of the huge opportunities brought about by the development of AI and robotic technologies. Details here.

FS promotes I&T co-operation in San Francisco
   
Mails to Chicago area subject to delay

Hongkong Post announced (Apr 11) that, as advised by the US postal administration, due to mail backlog at the Chicago mail processing center, all mail delivery services to Chicago (postcodes 400XX to 799XX) are subject to delay. Details here.

Mails to Chicago area subject to delay
   
Judicial independence upheld: CE

Chief Executive Carrie Lam said claims that judicial means were used to carry out political prosecution in a recent court ruling are unfounded. Speaking to the media (Apr 10), Mrs Lam said the Basic Law stipulates that Hong Kong has an independent judiciary, and that prosecutorial decisions made by the Department of Justice were free from interference. She also cited remarks by Chief Justice of the Court of Final Appeal Geoffrey Ma who said it is no part of a court’s function or duty to adjudicate on political, social or economic issues. Details here.

Judicial independence upheld: CE
   
FS explores I&T collaboration in Seattle

Financial Secretary Paul Chan called on (Apr 9) Seattle’s tech industry executives to tap into Hong Kong’s world-class infrastructure and deep pool of professionals and explore more innovation and technology (I&T) collaboration between Hong Kong and the US. He added that the Greater Bay Area is poised to become an international I&T powerhouse, connecting the region’s upstream, midstream and downstream sectors. Details here.

FS explores I&T collaboration in Seattle
   
Hong Kong maintains competitiveness

Despite a dimmer global economic outlook, Hong Kong will continue to enhance the resilience of its financial system, further improve the regulatory regime, and boost investor confidence and protection, consolidating Hong Kong’s unrivalled status as an international financial and risk management center, Acting Financial Secretary James Lau told industry executives and policymakers at the International Swaps and Derivatives Association annual general meeting in Hong Kong (Apr 10). Details here.

Hong Kong maintains competitiveness
   
“Insurance Connect” mooted

The “insurance connect” initiative, covering medical and motor insurance products, could be implemented as part of the mutual access to financial products between Hong Kong and other cities in the Greater Bay Area, said Acting Financial Secretary James Lau (Apr 10). The recently-released Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area supports enhanced connectivity in the bay area with respect to financial products, which would include insurance. Details here.

“Insurance Connect” mooted
   
Fourth virtual banking license issued

Hong Kong Monetary Authority has granted a banking license to Welab Digital Limited (Apr 10), making the homegrown fintech company the 4th virtual bank in Hong Kong. Welab Digital plans to launch its services within six to nine months. Details here.

Fourth virtual banking license issued
   
Safeguards in place for extradition law

There are clear safeguards for the proposed revisions to the Fugitive Offenders Ordinance and the Mutual Legal Assistance in Criminal Matters Ordinance, said Acting Chief Executive Matthew Cheung (Apr 9). He noted that with the city’s rule or law and judicial independence, the entire procedure will be transparent, with the Department of Justice and the Court of Final Appeal as gatekeepers and judicial review procedures to provide protection. Details here.

Safeguards in place for extradition law
   
FS promotes I&T ties in Seattle

Financial Secretary Paul Chan started his US visit program in Seattle (April 8), meeting with Senior Deputy Mayor of Seattle Michael Fong and senior executives of the tech industry to bolster Hong Kong-US links in economy and trade as well as in innovation and technology (I&T). Mr Chan said the Government is pushing for I&T development in four key areas, namely biotechnology, artificial intelligence, smart city and fintech amid growth opportunities from development in the Greater Bay Area. Details here.

FS promotes I&T ties in Seattle
   
USTR withdraws incorrect statement about Hong Kong from its report

The United States Trade Representative (USTR) has retracted an incorrect statement about Hong Kong from its recent 2019 National Trade Estimate Report published on March 29. The move came a week after Hong Kong government’s Economic and Trade Offices in Washington and Geneva followed up with the relevant US authorities on April 1 to convey its concerns and clarify that Hong Kong has, since 1996, fulfilled its notification obligation. Details here.

USTR withdraws incorrect statement about Hong Kong from its report
   
Customs seizes US$2 million record haul of rhino horns

Hong Kong customs confiscated 82.5 kilograms of rhino horns from South Africa worth over US$2 million (HK$16.5 million) from a transshipment cargo at the Hong Kong International Airport. This was the highest single seizure by the department in the past five years. Under Hong Kong laws, anyone found guilty of importing an endangered species faces a maximum fine of US$1.28 million (HK$10 million) and up to 10 years in jail. Details here.

Customs seizes US$2 million record haul of rhino horns
   
FS to visit US West Coast

Financial Secretary Paul Chan will depart Hong Kong for the United States on April 7 for a four-day visit to strengthen innovation and technology (I&T) ties between the two places. Mr Chan will visit relevant companies in Seattle and San Francisco and meet with US officials to exchange views on I&T’s role in economic development. Details here.

FS to visit US West Coast
   
Hong Kong: Leading aviation hub

Hong Kong will play a leading role as an international aviation hub, said Chief Executive Carrie Lam at the Airports Council International World Annual General Assembly, the aviation industry’s flagship event held in Hong Kong for the first time. Mrs Lam said as the world’s busiest cargo airport as well as the world’s third-busiest international passenger airport, Hong Kong International Airport constantly enhances services through innovative measures, such as inter-modal code-sharing, connecting travelers with more than 220 destinations worldwide. A third runway is scheduled to be commissioned in 2022, along with new and expanded passenger facilities. Details here.

Hong Kong: Leading aviation hub
   
Government responds to US trade report

A report by the US Trade Representative has made an inaccurate statement about Hong Kong due to its misinterpretation of the World Trade Organization requirement, the Government said (Apr 2). Responding to the 2019 National Trade Estimate Report, the Government clarified that Hong Kong, as a founding member of the WTO, has fulfilled its notification obligations under the WTO Customs Valuation Agreement since 1996. Hong Kong, as a free port, does not impose any customs duties on imported goods. Meanwhile, the Government acknowledges the positive remarks made in the Report on Hong Kong’s robust intellectual property rights protection and enforcement. Details here.

Government responds to US trade report
   
Progress in Hong Kong-Shenzhen cooperation

Substantial progress has been made on different fronts as Hong Kong and Shenzhen continue to co-operate and actively participate in the Greater Bay Area development, said Chief Secretary Matthew Cheung at the Hong Kong/Shenzhen Co-operation Meeting in Shenzhen (Apr 2). Mr Cheung cited the Lok Ma Chau Loop’s Hong Kong-Shenzhen Innovation and Technology Park as an example for I&T collaboration between the two cities, where the first batch of land parcels will be made available for construction by 2021 or earlier. Details here.

Progress in Hong Kong-Shenzhen cooperation
   
Agreement on arbitral proceedings signed

Hong Kong and China signed an arrangement on mutual assistance in court-ordered interim measures in aid of arbitral proceedings (Apr 2). Following the signing, Hong Kong has become the first jurisdiction outside the Mainland where, as a seat of arbitration, parties to arbitral proceedings administered would be able to apply to the Mainland courts for interim measures. Secretary for Justice Teresa Cheng said the arrangement would strengthen legal co-operation between the two places and further enhances Hong Kong’s status as a center for international arbitration, international legal and dispute resolution services in the Asia-Pacific Region. Details here.

Agreement on arbitral proceedings signed
   
HK int’l airport plays key role in connect and excel: CE

The 21-year-old Hong Kong International Airport has helped shape Hong Kong into the global financial services and trade center it is today, Chief Executive Carrie Lam told the audience at the Airports Council International Joint World Governing and Regional Board Dinner in Hong Kong (Mar 31). By taking full advantage of the Greater Bay Area with the commissioning of the third runway in 2022, she believes the world-class Hong Kong airport will play a critical role in carrying Hong Kong into the future, connecting the city with the Greater Bay Area and the Mainland, with Asia and the world beyond. Details here.

HK int’l airport plays key role in connect and excel: CE
   
World’s Best Airport Immigration Service

The Hong Kong Immigration Department has been voted the winner of the 2019 best airport immigration service award in Skytrax’s World Passenger Survey. This is the third time for Hong Kong to receive the award after winning the title in 2015 and 2016. More than 13 million air passengers took part in the survey, which covered over 550 airports worldwide. Details here.

World’s Best Airport Immigration Service
   
Security chief continues to explain fugitive law revision

Secretary for Security John Lee said (Mar 30) revisions to the Fugitive Offenders Ordinance and the Mutual Legal Assistance in Criminal Matters Ordinance aims to fight organized crime and would benefit the city’s business environment. Under the revised mechanism, Hong Kong will be allowed to deal with a jurisdiction’s request on a case-by-case basis when that jurisdiction does not have a long-term agreement with Hong Kong. Details here.

Security chief continues to explain fugitive law revision
   
Weak retail sales recorded for first two months of 2019

Hong Kong retail sales growth slowed in first two months of 2019 and dampened consumer sentiment due to external uncertainties. The Census and Statistics Department estimated the value of total retail sales for the months of Jan. and Feb. decreased by 1.6% compared with the same period in 2018. The near-term outlook for retail sales should continue by moderating global economic growth but Hong Kong’s full employment situation and the sustained growth in inbound tourism should provide some support, the Government said. Details here.

https://www.info.gov.hk/gia/general/201904/01/P2019040100341.htm
   
HK envisions closer relations with ASEAN: CE

Hong Kong will leverage its unique “One Country, Two Systems” arrangement to continue develop meaningful economic, trade and cultural ties with ASEAN nations, said Chief Executive Carrie Lam at the “ASEAN-China Governors/Mayors' Dialogue” session at the Boao Forum (Mar 29), adding that Hong Kong is an ideal partner for Belt and Road projects and other regional cooperation initiatives. Details here.

HK envisions closer relations with ASEAN: CE
   
Museum of Art to reopen in November

Closed for renovation since August 2015, the Hong Kong Museum of Art located in Tsim Sha Tsui is set to reopen this November. The total exhibition area will increase by about 40%, with the number of galleries up from seven to 12. This includes a 9-metre-high gallery in the new annex block, which can accommodate large-sized artworks. Details here.

Museum of Art to reopen in November
   
New adventures at HK Disneyland

The first Marvel attraction based on the “Ant-Man and The Wasp” movie at any Disney theme park in the world has opened at the Hong Kong Disneyland (Mar 28). At the opening ceremony, Financial Secretary Paul Chan said the theme park located on Lantau Island has been a major tourist attraction since it opened in 2005, attracting more than 77 million visitors from all over the world to date. Details here.

New adventures at HK Disneyland
   
Applications for Common Recruitment Examination and Basic Law Test to open

The 2019 Common Recruitment Examination (CRE) and Basic Law Test (BLT), prerequisite for applying for Hong Kong Government positions at the degree or professional level, will be held in Hong Kong on June 1 and 8. Application period to sit for the exams will open from March 29 to April 11. Details here.

Applications for Common Recruitment Examination and Basic Law Test to open
   

Check out our press releases and past events pages.

 
 
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