Hong Kong Effective Measures Against Counter-terrorist Financing and Anti-money Laundering Has Been Praised Hong Kong has been praised for its effective law enforcement against money laundering and terrorist financing. The praise comes from the Financial Action Task Force (FATF). The FATF Plenary examined the Mutual Evaluation Report of Hong Kong in the United States on…
What Really Does the Future Hold for Hong Kong’s Population by 2028? By 2028, Hong Kong expects to see 55% of its people living in the New Territories. Kowloon is projected to host 30%, while the remaining 15% are expected to be on Hong Kong Island. This forecast was provided by the Hong Kong Planning…
Inflation Rate in Hong Kong Climbs to 2.8% in May, Citizens Feeling the Pinch The climbing inflation rate in Hong Kong is not alarming, although consumer prices are rising steadily. In a recent statistic result release, the inflation rate for May 2019 is 2.8%. The inflation rate was even lower than that in April 2019.…
Hongkies Can Now Access to a Full & Comprehensive Paediatric Care in Hong Kong Children’s Hospital Hong Kong now has a children’s hospital, and it can provide complete paediatric care for complicated paediatric cases. The need for an exclusive children’s hospital stems from the need to provide for comprehensive and coordinated healthcare for all children…
Moderation in Hong Kong’s Gross Domestic Product (GDP) Growth for First Quarter of 2019 The Hong Kong’s Census and Statistics Department (“C&SD”) has recently released the advance estimates on Gross Domestic Product (“GDP”) for the first quarter of 2019 of Hong Kong. The C&SD has fast-tracked the first release of quarterly GDP to approximately 1…
Hong Kong’s April Inflation Showed an Upward Trend in Several Categories According to the announcement of Hong Kong’s Census & Statistics Department (“the Department”), the country’s consumer price stood at 2.9 per cent year-on-year in April 2019, 0.8 per cent above market expectations. Price Hike In Several Categories Hong Kong’s April Inflation – saw…
A Close-up View of Second Quarter’s Business Performance of Hong Kong in 2019 Released by the C&SD The results of the Quarterly Business Tendency Survey (“QBTS”) for the second quarter (Q2) of 2019 were released by the Census and Statistics Department (C&SD) of Hong Kong on April 26. Business Situation According to the QBTS,…
Waiver of Business Registration Fees for Hong Kong Companies From 2019-2020 From the period of 1st April 209 up to 31st March 2020, the prescribed Business Registration Fee for non-Hong Kong companies will be discounted by an amount of HK$2,000. The Prescribed Fee for Registration of a Company and Business The prescribed fee for…
Public Holidays in Hong Kong for 2020 Dates of the Hong Kong Public Holiday 2020 Gov HK Hong Kong has published on May 2019 In 2020, there will be 19 gazetted public holidays as follows: New Year’s Day 1 Jan 2020 Wednesday Lunar New Year’s Day 25 Jan 2020 Saturday The Second Day of…
Virtual Banks in Hong Kong: Will We Be Seeing More of These in the Future? Hong Kong. Experts forecasted that a breed of financial technology firms will gain revenue of up to 30 percent. This may become a huge setback for traditional banks in Hong Kong. Thus far, there has been 3 virtual banks that…