Duty-Free Measures with Mainland China Extend to Cover All Ports The Hong Kong central government’s policy to raise its duty-free allowance has now expanded to include all entry ports. Previously, it was for Mainland residents who wanted to come to Hong Kong. Mainland visitors have well received the new measures as they enhanced their shopping…
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’s TV Campaign Set To Attract Global Talent On June 5, 2024, the Hong Kong Special Administrative Region Government (HKSAR) embarked on a mission to attract global talent. By launching a set of new Announcements in the Public Interest (APIs) via a TV campaign, Hong Kong is focusing on appealing to professionals from all…
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…
Hong Kong Signs DTA, Creating Investment Pact with Bahrain Hong Kong has expanded its avoidance of double taxation agreements, onboarding Bahrain as its latest investment partner. Both parties signed a comprehensive avoidance of double taxation agreement (DTA), the 49th DTA to be concluded in Hong Kong. With the agreement, Hong Kong companies paying tax in…