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,…
Read more
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…
Read more
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.…
Read more
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…
Read more
The Hong Kong government is actively expanding its trade network and attracting investment from Global South markets through a series of strategic initiatives. Ongoing discussions with Malaysia and Saudi Arabia aim to establish new Economic and Trade Offices in both countries, strengthening Hong Kong’s presence in these key markets. Additionally, InvestHK has launched consultant offices…
Read more
The Hong Kong Trade Development Council (HKTDC) has announced its strategic focus for FY 2025-2026, reinforcing Hong Kong’s position as a resilient and globally connected business hub while deepening its integration into national development. The council will prioritize innovation, sustainability, and SME growth to enhance the city’s competitive edge. Key Initiatives Strengthening Hong Kong’s Role…
Read more
On 8 January 2025, the Hong Kong Monetary Authority (HKMA) introduced the Supervisory Incubator for Distributed Ledger Technology (the Incubator) to support banks in responsibly harnessing the transformative potential of distributed ledger technology (DLT). A New Supervisory Framework for DLT AdoptionThe Incubator is designed to help banks maximize the benefits of DLT adoption while effectively…
Read more
A new policy requiring mediation clauses in government contracts has officially come into effect. According to the Department of Justice (DoJ), these clauses mandate that contracting parties must first attempt mediation to resolve disputes before turning to arbitration or litigation. To support this initiative, the DoJ has introduced The Government of the Hong Kong Special…
Read more
The overall office prices in Hong Kong declined by 7.8% between Q4 2022 and Q4 2023, with Grade A, B, and C offices decreasing by 2%, 11.5%, and 7.9%, respectively, according to the Hong Kong Property Review 2024. Grade A office prices saw modest growth in early 2023 but fell 2% year-over-year (YoY) in Q4.…
Read more
