Access to conventions and exhibitions by overseas delegates | |
Overseas delegates, upon completion of the three-day hotel quarantine, are allowed to attend business-to-business conventions, exhibitions and trade shows in Hong Kong, subject to specified requirements. These include the wearing of a mask at all times during the event, save for speakers delivering a speech, and pre-registration for all participants for entry to the premises by the organizer. The Hong Kong Special Administrative Region Government said that the participation of members of the trade in B2B thematic trade exhibitions and relevant activities is considered similar in nature to performing duties at work and is different from other mass group gatherings. | |
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Opportunities in private equity industry | |
Opportunities abound for Hong Kong’s private equity industry, said Secretary for Financial Services and the Treasury Christopher Hui at an industry summit (Aug 24). Hong Kong is close to finalizing discussions with the Qianhai Authority of Shenzhen to enhance the co-development and connectivity of private equity markets in the two places, facilitating private equity funds incorporated in Hong Kong to invest in the Mainland more conveniently. The city has implemented a number of measures to further develop the asset and management industry including promoting the REIT market, undertaking listing reforms and focusing on developing into a family office hub. Hong Kong, with over US$190 billion of capital under management as at June this year, ranks the second in Asia after Mainland China. Hong Kong also ranks the largest hedge fund hub in Asia as at March this year, and was the largest cross-border financial center in Asia in 2021. | |
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July exports value down 8.9% | |
The value of Hong Kong’s total goods exports decreased to US$48.6 billion in July, down 8.9% year-on-year. The value of imports of goods dropped 9.9% to US$52.2 billion, resulting in a trade deficit of US$3.5 billion. The value of merchandise exports declined further in July 2022 against a worsening external environment and continued disruptions to cross-boundary land transportation. Exports to the Mainland, the US and European Union showed widened declines, while those to other major Asian markets saw mixed performance. Looking forward, Hong Kong’s export performance will continue to be dragged by the weakening global growth momentum. Aggressive monetary policy tightening in advanced economies to curb inflation will weigh on global demand while heightened geopolitical tensions and pandemic-induced supply-chain disruptions also contribute to the headwinds. | |
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Hong Kong students awarded scholarships to study in US | |
A total of 76 students were selected as the eight cohort of the Hong Kong Scholarship for Excellence Scheme. Apart from outstanding academic achievements, the awardees also demonstrated excellence in their leadership qualities. Among them, 23 will be pursuing their studies in the US, with 15 in undergraduate studies and 8 in graduate programs. They will pursue a wide spectrum of disciplines including arts, culture and performing arts, law, medical and health sciences, social sciences, and STEM (science, technology, engineering and mathematics)-related programs. | |
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Hong Kong Ballet x M+ Live Art: Beyond Carbon | |
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Learn more about global climate change through cultural and artistic means in the Beyond Carbon online festival, presented by Hong Kong Ballet and M+. The online festival features eight short, choreographed chapters by Jessica Burrows, Luis Cabrera, Sarita Chan, Jingyi Feng, Lin Li, Chang-yuan Kyle Lin, Chun-long Leung and Jonathan Spigner, addressing environmental emergencies. It also includes a special screening of The Measures, a new piece choreographed by Stephen Shropshire. The performance videos can be seen on the M+ and Hong Kong Ballet websites through Sep 4.
(Photo courtesy of Hong Kong Ballet)
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Hong Kong and its Basic Law | |
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The Basic Law is the constitutional document of the HKSAR. Put into effect on July 1, 1997, it enshrines within a legal document the important concept of “One Country, Two Systems”.
Q: Have the laws previously in force in Hong Kong been maintained?
A: The Basic Law provides that laws previously in force in Hong Kong, that is, the common law, rules of equity, ordinances, subordinate legislation and customary law, shall be maintained and adopted as laws of the HKSAR, except for any that contravenes the Basic Law, and subject to any amendment by the HKSAR legislature. (BL Articles 8; 18; 160)
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