Hong Kong’s Economy Grows 3.1% in Q2 2025 Hong Kong’s economy has expanded by 3.1% year-on-year in the second quarter of 2025, surpassing the 3% growth recorded in the first quarter. This marks the tenth consecutive quarter of economic growth, according to the Census and Statistics Department’s advance estimates. Economic Performance by Sector The growth…
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Hong Kong Combines Innovation & Technology Funding Programs Hong Kong’s Innovation and Technology Commission (ITC) has decided to bring together several funding programmes under the Innovation and Technology Fund (ITF) from August 1 2025. This will make it easier for businesses to get support and grow with innovation and industrial ideas. Which Programmes Are…
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Foreign Direct Investment Rises Significantly to $160 Billion Hong Kong has seen a significant increase in foreign direct investment in recent years, with over 1,300 overseas and Mainland companies establishing or expanding operations in the city between January 2023 and mid-2025. This has contributed approximately $160 billion to the local economy and generated over 19,000…
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Industrialisation Scheme Improved to Speed Up Smart Manufacturing Funding The Innovation & Technology Commission has introduced updated procedures for the New Industrialisation Funding Scheme (NIFS), designed to reduce approval timelines. Applicants requesting no more than $2.8 million will benefit from the new fast-track system. Supporting Smart Manufacturing The overhaul aims to support companies adopting smart production…
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Hong Kong Competitiveness Leaps Into Top Three Amid Efficiency Gains Hong Kong competitiveness has surged, with the city now ranking third in the latest international index. This leap marks a return to the top three since 2019. Hong Kong’s score rose by 7.7 points to 99.2 out of 100 in the last year, also making…
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Hong Kong Among the First to Target Full ISSB Adoption for IFRS Sustainability Hong Kong has targeted full adoption of the ISSB Standards. This IFRS sustainability commitment has been highlighted by the city as proof of its dedication to providing transparent sustainability information within capital markets. Through its jurisdictional profile, the IFRS Foundation recognises Hong Kong’s public…
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International Jobseekers Explore 700+ Openings at Hong Kong Online Career Fair Hong Kong recently hosted a two-day online job fair to attract international professionals from several fields. The fair offered more than 700 vacancies across various sectors, including accounting, finance, consultancy, legal compliance, and engineering. The event, organised by Hong Kong Talent Engage (HKTE), recorded…
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Government Enhances Funding Schemes for SMEs Hong Kong has enhanced two funding schemes: the Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund) and the SME Export Marketing Fund (EMF) schemes for SMEs. Specifically, new measures aiming to provide more focused and sustainable assistance have been introduced. These changes apply to applications received from…
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In a comprehensive strategy unveiled on 26 February 2025, Financial Secretary Paul Chan detailed several government initiatives for international top talent acquisition and retention across various sectors. These measures target working professionals, investors, and students in multiple industries. Enhanced Admission Schemes To address manpower shortages in skilled trades, the government plans to improve the Admission…
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Hong Kong’s Cultural and Creative Industries to Receive Financial and Other Support from the Government Hong Kong has announced several initiatives for the development of tourism in the region. The initiatives, mentioned in the budget speech, have been aimed towards the cultural and creative industries. Support for Local SMEs The first initiative is the funding…
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