Hong Kong Economy Grows by 3.3% In the Second Quarter 2024 is looking good as the Hong Kong economy grows by 3.3% in the second quarter of this year (compared to the same period last year). Its gross domestic product (GDP) grew 0.4% in real terms on a seasonally adjusted quarter-to-quarter basis in the second…
Mainland Visitors Get to Spend More in Hong Kong With Increased Duty-Free Allowance The duty-free allowance for Mainland citizens travelling from Hong Kong to the Mainland has been increased. The central government approved the increase in the duty-free allowance for baggage items brought into the Mainland by Mainland travellers arriving from Hong Kong from RMB5,000…
Hong Kong Government Offers To Ease Retail Commerce Pressure A variety of measures has been taken by Hong Kong’s Government to help the retail sector, according to Secretary for Commerce & Economic Development Algernon Yau. The local market is expected to improve with the increment of employment earnings, stabilisation of asset markets, and tourism revival.…
Hong Kong’s Exports in May Up By 14.8% Hong Kong’s total exports reached $375.9 billion in May, marking a 14.8% increase compared to the same month last year, according to the Census & Statistics Department. During the same period, the value of imports grew by 9.6% to $388.1 billion, resulting in a trade deficit of…
Hong Kong Streamlines Visitor Facilitation Plan for Experts To further strengthen Hong Kong’s position as a global hub, the government has recently announced an expansion of the visitor facilitation plan via the official launch of a program. This ‘Immigration Facilitation Scheme for Visitors Participating in Short-term Activities in Designated Sectors’ programme will begin on June…
Hong Kong and China Strengthen Swap Connect Scheme Hong Kong and Mainland China have recently announced a collaboration to improve their financial markets via the Swap Connect Scheme. This scheme allows investors in both countries to participate in each other’s interest rate swap markets. Essentially, the Swap Connect Scheme functions like a bridge to connect…
Hong Kong 4th on Global Financial Index Hong Kong is 4th on the Global Financial Index in its 35th report, released by organisations from China and the UK. The Government believes this results from its “One Country, Two Systems” approach. Hong Kong’s unique dual approach has enabled it to connect to both the mainland and…
New Market Access Measures to Boost Financial Connectivity in Hong Kong and China Hong Kong welcomes new market access measures introduced by the China Securities Regulatory Commission (CSRC). These measures will strengthen the connection between the city and Mainland China. The measures will include supporting Mainland companies, helping them get listed in Hong Kong, and…
