Hong Kong’s 2021 Economy Grows with an Overall Rise of 6.4% HK economy grows, indicating a reversal of the previous two years of decline. Hong Kong’s Census & Statistics Department’s recent publication of advance estimates indicates quite a positive outlook. HK’s 2021 year-on-year 4.8% fourth-quarter growth sets the pace along with a 6.4% overall rise.…
HK Government Seeks Committee Approval to Inject $27 Billion Into Virus Relief Fund Hong Kong’s Anti-Epidemic Fund (AEF) may be in for a significant monetary boost. The HK Government is seeking approval for a $27 billion financial infusion proposal. Upon approval from the Legislative Council Finance Committee, the AEF will support a significant number of…
Fifth Round of Anti-Epidemic Fund Measures in Hong Kong Totals $3.57 Billion As of January 14, the Hong Kong government announced measures for the fifth phase of the Anti-epidemic Fund. The government is allocating approximately $3,570 million in total funds. With effect from January 7, the government reinforced social separation restrictions in response to the…
Hong Kong to Reap Even More Benefits Thanks to international Trade Law Hong Kong has always been hailed as one of Asia’s top trading hubs. With the implementation of the international trade law, there are even more benefits to be gained. The Most Successful Universal Commercial Law Convention Hong Kong’s standing as an international…
Government Agencies to Accept Digital IC to Access Services in Person Hong Kong saw the value of its economic exports rise to $441.8 billion. This is an increase of 16.5% from the same month in the previous year. Imported goods also saw their value increase by 23.5% during this same period. Comparing this year’s 3rd…
Enhancements Aim to Help Enterprises Broaden Their Geographic Reach and Develop Diversified Markets Hong Kong will upgrade its business fund to support the business development of enterprises. The Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund) will undergo enhancements in three phases. The enhancements aim to help enterprises develop diversified markets even more.…
The “One Country, Two Systems” Approach an Ideal Gateway for Singapore Hong Kong’s Chief Executive is inviting Singaporean businesses to come and explore the opportunities in Hong Kong and boost the HK-Singapore business ties. Hong Kong practices a “one country, two systems” approach thanks to its unparalleled strengths. This makes it the ideal gateway for…
The “One Country, Two Systems” Approach an Ideal Gateway for Singapore Hong Kong’s Q2 economy grows 7.5% in 2021, an increase over the previous year. The growth indicates that Hong Kong’s economy is on the road to recovery with improving global economic conditions. Among some of the growth that contributed to Hong Kong’s Q2 economy…
Consensus Focuses on the International Tax Reform Framework’s Key Principles Hong Kong welcomes the consensus on tax reform reached by the international community. The consensus focus on the international tax reform framework’s key principles. The reform was announced on 1 July by the Organisation for Economic Co-operation & Development. They identified it as the international…
Government Increases Funding From $50 Million to $100 Million The Hong Kong Government is increasing the 5G subsidy scheme funding to encourage the early deployment of 5G. Applications for the subsidy scheme will close on 31 July 2022. An additional 100 projects are expected to benefit from this subsidy scheme. The Subsidy Scheme for Encouraging…