Total Retail Sales Saw 30% Increase Compared to 2020 of the Same Month Hong Kong’s retail sales are on the upswing, approximately $29.5 billion in February, experiencing a 30% increase compared with the same month of last year These figures were released by Hong Kong’s Census and Statistics Department. The Government did note that retail…
Budget in Place to Boost Hong Kong’s Economy Hong Kong’s Financial Secretary is confident that this year’s Budget has addressed critical concerns and shares the bountiful opportunities for Hong Kong that lie ahead. There is no question the COVID-19 pandemic has hit every economy around the world hard. With the pandemic-driven reality, Hong Kong found…
A Transformation Into a New Leisure Destination and Resort The Hong Kong Government has announced plans to transform the Hong Kong Ocean park into a new leisure destination and resort. The aim of the proposal is to create a new experience for the local community and international visitors. The park resides in a unique geographical…
Strengthening the Country’s Economic Resilience Even More Hong Kong is welcoming Fintech Firms to aid in the building of the banking and financial services sector in the city. It is part of the plan to keep the city’s economy strong and resilient. An Economy Rebounding The world was hit hard in 2020 in an…
Hong Kong Boosts Economy With ASEAN Free Trade Agreement The trade agreements between Hong Kong and Brunei Darussalam, a member of the Association of Southeast Asian Nations (ASEAN) has taken effect on 20 October 2020. This is part of the broader Free Trade Agreement between Hong Kong and ASEAN. With this in place, trade and…
Hong Kong Elevates Its Global Aviation Hub Role After Investments in Zhuhai Hong Kong’s Chief Secretary Matthew Cheung announced that the city’s status as a global aviation hub would progress after the Airport’s Authority investment in the Zhuhai Network. Global Travel Routes With Hong Kong – Zhuhai Bridge On a radio programme about the…
Hong Kong Supports Businesses With I&T Solutions Funding The Financial Secretary on 11 November 2020 announced the launch of a $1.5 billion Distance Business Programme under the Anti-epidemic Fund to support affected companies and encourage the adoption of IT solutions during this pandemic. Relieving Economical Decline In the previous months, Hong Kong’s economy declined…
The Government Provides Plenty of Support Even During Economic Downturn Large corporations can probably hold on to their horses even during a downturn, albeit with the measure to preserve positive cash flow. But, what becomes of the small and medium enterprise? The local SMEs in Hong Kong are beginning to lose their grip on their…