The Hong Kong Special Administrative Region (HKSAR) Government will continue its prevention and control measures taking into account the COVID-19 epidemic development and its anti-epidemic policy. These include containing the number of confirmed cases, managing risks and enhancing Hong Kong’s capability to respond to contingencies in order to prevent the healthcare system from being overloaded. In addition, the Government also aims to reduce critical cases and deaths, and protect high-risk groups. It will also strike a balance between risks and economic impetus in an effort to safeguard the livelihood of the public and Hong Kong's competitiveness. The Government will continue to take precise measures to control the epidemic and appeal to the community to join hands and encourage the elderly to get vaccinated early. Separately, Chief Executive John Lee said he has secured Mainland China’s support for his plan for travelers to first isolate in Hong Kong and then enter China quarantine-free. Details of the plan will be worked out by a task force prior to endorsement and implementation.

China Securities Regulatory Commission will move forward to include securities of overseas enterprises which have a primary listing in Hong Kong and fulfill certain conditions in the eligible scope of the southbound trading under Stock Connect. The commission will study to set up a renminbi (RMB) securities trading counter under the Stock Connect southbound trading and support the issuance of Chinese government bond futures in Hong Kong. Chief Executive John Lee said these measures are significant milestones of the mutual access between the two financial markets, enriching the investment choices for investors, attracting more overseas enterprises to list in Hong Kong, and providing risk management tools for Chinese government bond investments in Hong Kong. Financial Secretary Paul Chan said the measures will broaden the scope for the future development of Hong Kong's securities market, particularly the internationalization of listed companies as well as the issuance and trading of RMB securities.

Hong Kong’s value of total retail sales in July, provisionally estimated at US$3.62 billion, grew 4.1% year-on-year. After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales for the month rose 1% year-on-year. Retail sales resumed a moderate year-on-year increase in July, as consumer spending was supported by improving labor market conditions. A lower base of comparison also partly contributed to the year-on-year increase. Looking ahead, tighter financial conditions and development of the local COVID-19 epidemic will have bearings on the retail sector's performance. But the Consumption Voucher Scheme will render support to consumption demand in the coming months. 

Hong Kong’s total port cargo throughput in the 2nd quarter of 2022 decreased by 5% year-on-year to 52.3 million tonnes. For the first half of 2022, total port cargo throughput decreased by 9.1% compared with the first half of 2021 to 94.7 million tonnes. In the second quarter of 2022, the port of Hong Kong handled 4.72 million TEUs of containers, representing an increase of 2.8% year-on-year. For the first half of 2022, the port of Hong Kong handled 8.43 million TEUs of containers, representing a decrease of 3.2% year-on-year.

Hong Kong recorded a US$17.23 billion deficit for the first four months of the current financial year. Expenditure for the period was US$32.14 billion and revenue was US$12.34 billion. The deficit was attributed mainly because some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year. Fiscal reserves stood at US$105.48 billion at the end of July.

International students interested in pursuing full-time PhD degrees in Hong Kong, irrespective of their country of origin, prior work experience and ethnic background, are eligible to apply for the Hong Kong PhD Fellowship Scheme at eight of the city’s universities. The Fellowship offers an annual stipend of US$41,690 and a conference and research-related travel allowance of US$1,740 per year for each awardee for a period of up to three years. Interested candidates can submit their applications for the 2023/24 Hong Kong PhD Fellowship Scheme by Dec 1.