Attracting Hong Kong Enterprises with New Government Strategy Government to encourage Hong Kong enterprises with transformational initiatives The Hong Kong Government values the importance and role that enterprises play in the economy. As such, the Government will be implementing several new and exciting strategies to encourage and attract Hong Kong Enterprises. The array of initiatives,…
Hong Kong Ranks 4th as a Global Finance Hub Hong Kong lands the 4th position out of 119 as a global finance hub in the Global Financial Centres Index 32 Report. This is a step up from its previous ranking, going from the 8th position to the 4th. Hong Kong’s rating was 725 in terms…
Hong Kong’s Monetary Authority Launches New Fintech Subsidy The Hong Kong Monetary Authority has launched a new Fintech Subsidy known as the Pilot Scheme on Training Subsidy. It is available for eligible Fintech Practitioners. The scheme is part of Hong Kong’s 2022-23 Budget allocation. The Government is planning to implement the new Fintech subsidy scheme…
50,000 Local Hong Kong Companies Newly Registered in 2022 A promising outlook on the Hong Kong companies front, as 50,087 new local companies were registered. This is within the first half of 2022 alone. This brings the number of local companies registered to a total of 1,386,592. As far as non-local companies were concerned, there…
Hong Kong Thrives As An Innovative Technology Hub Venture capital investment and startup company numbers in Hong Kong have grown by a substantial number over the last few years. This is all thanks to how well the innovative technology sector is doing. Hong Kong has quickly become biotech companies’ largest fundraising hub in Asia. Globally,…
Hong Kong’s I&T Development Gets Maximum Support From the Government Hong Kong’s Chief Executive addressed the Innovation and Technology Scholarship, which was awarded to 25 students. The recipients are the brightest talents chosen from six local universities; the recipients were qualified due to their outstanding performance in their field of studies and thirst for accumulating…
The Government of Hong Kong Will Be Distributing Vouchers Worth $5000 in Two Batches The Government of Hong Kong will distribute consumption vouchers worth $5000 in two installments. Announcing the scheme under the second phase of the 2022 Consumption Voucher Scheme, the Financial Secretary addressed the progression of the scheme in a press conference. The…
Buffer for HK Businesses with the Tenant Protection Act Tenant protection act comes into effect, offering three months’ protection. The Hong Kong Government is providing a three-month protection period for business tenants with its tenant protection act. The Temporary Protection Measures for Business Tenants (COVID-19 Pandemic) Ordinance took effect on May 1, 2022. The ordinance…
Hong Kong’s New Regulatory Regime for the Accounting Profession Gazetting of subsidiary legislation to bring change to HK’s accounting profession. The Hong Kong Government is introducing new legislative measures by gazetting several subsidiary legislations. These amendments and ordinances will change HK’s accounting profession by establishing a new regulatory regime. They aim to ensure the profession’s…
Relief Grants Granted to Shops Located in Government Venues in Hong Kong Shops based in government venues in Hong Kong will be happy to hear they are set to receive a one-off relief grant. The relief grants will be given to fast food kiosks and light refreshment operators. Retail outlets will also be eligible for…