A consolidated budget deficit of $94.8 billion is projected for 2025, prompting calls for strategic measures to guide the government’s upcoming budget planning. Leveraging the Greater Bay Area (GBA) Experts emphasize leveraging Hong Kong’s strategic location within the Greater Bay Area to maintain its role as a critical connector between mainland China and the world.…
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Government Passes Companies (Amendment) Bill 2024 to Enhance Hong Kong’s Corporate Landscape The Government has announced the Legislative Council’s approval of the Companies (Amendment) Bill 2024, a landmark initiative aimed at modernizing corporate practices in Hong Kong. The amendments will enable listed companies incorporated in Hong Kong to hold repurchased shares in treasury and dispose…
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Half of Hong Kong Residents See Crypto as Key to Finance’s Future, Yet Adoption Lags Behind Half of respondents in Hong Kong view cryptocurrencies as pivotal to the future of finance, mirroring the optimism seen across the region. However, actual adoption in the city tells a different story. Hong Kong’s crypto adoption rate stands at…
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The Office for Attracting Strategic Enterprises (OASES) has successfully facilitated the entry or expansion of 66 strategic enterprises in Hong Kong, reinforcing the city’s reputation as a global hub for innovation and business. Key Highlights:New and Expanded Operations: About 60% of these enterprises have established new operations in Hong Kong, while the remaining 40% have…
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The Mainland-Hong Kong Science and Technology Cooperation Committee has unveiled its 2024-2025 workplan, aimed at advancing innovation and technology (I&T) collaboration between Hong Kong and the Mainland. Key aspects of the plan include: Alignment with the Hong Kong Innovation and Technology Development Blueprint:Focus on establishing Hong Kong as a global innovation hub.Acceleration of strategic initiatives…
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Hong Kong has maintained its standing in the 2024 World Justice Project Rule of Law Index, ranking sixth in East Asia and the Pacific and 23rd globally out of 142 countries and jurisdictions, the government announced. The Government of the Hong Kong Special Administrative Region (HKSAR) highlighted that Hong Kong continues to surpass several European…
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The APAC region is a powerhouse of economic activity, offering diverse investment opportunities across traditional sectors such as residential, commercial, industrial, and logistics, as well as emerging specialised sectors like data centres and cold storage. Singapore ranked highest among Asian countries and second overall, after the US. Other Asian nations in the top 10 include…
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On August 2, 2024, the People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) signed a Memorandum of Understanding (MOU) to establish a framework for connecting payment systems between mainland China and Hong Kong. The agreement was signed by PBOC Deputy Governor Lu Lei and HKMA Deputy Chief Executive Howard Lee. During…
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Hong Kong has been recognized as a “pivotal global financial hub” and international asset management center, joining Shanghai, Singapore, Sydney, and Dubai as one of the five new wealth hubs. The city stands out for its regulatory frameworks, capital markets, and connectivity to the Chinese mainland. This designation is based on six core areas that…
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