In a significant move to support Hong Kong’s economic transition, the government has introduced a new statistical domain to better capture and reflect the performance of industries linked to manufacturing and new industrialisation. The newly defined sector grew by an impressive 7.6% year-on-year in 2023, underscoring its growing importance in the city’s evolving economic landscape.…
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The Hong Kong government is stepping up efforts to reinforce its status as a leading international financial centre by introducing stronger safeguards against financial crime. In a joint announcement, the Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks (HKAB), and the Hong Kong Police Force (HKPF) unveiled a series of new initiatives…
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The Hong Kong government is stepping up efforts to reinforce its status as a leading international financial centre by introducing stronger safeguards against financial crime. In a joint announcement, the Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks (HKAB), and the Hong Kong Police Force (HKPF) unveiled a series of new initiatives…
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The Hong Kong government is stepping up efforts to reinforce its status as a leading international financial centre by introducing stronger safeguards against financial crime. In a joint announcement, the Hong Kong Monetary Authority (HKMA), the Hong Kong Association of Banks (HKAB), and the Hong Kong Police Force (HKPF) unveiled a series of new initiatives…
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Hong Kong is on the verge of a startup boom, driven by university-led research and development initiatives and bolstered by strong government backing, according to venture capital analysts. What sets Hong Kong apart is that its universities not only have their own investment arms, but also enjoy robust support from the government. This unique ecosystem…
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Hong Kong continues to solidify its reputation as Asia’s premier financial centre, offering an increasingly attractive landscape for investment. To further enhance its appeal, the city is rolling out a series of measures aimed at attracting family offices, according to Financial Secretary Paul Chan Mo-po. This year, Hong Kong will expand its already favorable policies,…
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Hong Kong has once again solidified its status as a leading global financial hub, ranking third worldwide and maintaining its position as the top financial center in the Asia-Pacific region in the latest Global Financial Centres Index (GFCI). The city’s overall rating increased by 11 points to 760, reinforcing its resilience and competitiveness in the…
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The Office of the Privacy Commissioner for Personal Data (PCPD) has found no evidence that the “additional” personal data of over 100,000 individuals affected by a Companies Registry data breach was accessed without authorization or by accident. The breach compromised the Hong Kong Identity Card (HKID) and passport numbers or addresses of 108,575 company directors.…
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Wise has introduced its international business account in Hong Kong, designed to help small and medium enterprises (SMEs) manage global transactions seamlessly. The account allows businesses to send, receive, and hold over 40 currencies without the burden of minimum balance requirements or monthly subscription fees. According to a press release, SMEs can receive payments globally…
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