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JANUARY 18 - 23, 2023

CHINESE NEW YEAR

Happy Chinese New Year to all our friends! 2023 is the Year of the Rabbit, which symbolizes peace, vitality, prosperity, and deftness. We wish you joy, luck, and health in the coming year.

ARTS AND CULTURE

Following two sold-out performances at New York City Center, the Hong Kong Ballet performed their "Romeo + Juliet" to a standing ovation at the University of North Carolina at Chapel Hill on January 20 and 21. Congratulations to Hong Kong Ballet for the successful US tour! 

BUSINESS AND ECONOMY

In concluding his visit to Davos for the World Economic Forum on January 20, Financial Secretary Paul Chan said that Hong Kong will continue to play its role well as a financial, trading and shipping center and make valuable contributions to global co-operation and development. During his 5-day visit to Davos, Mr Chan met with political and business leaders including top-notch members of multinational companies, financial institutions, the academia and media organizations, explaining Hong Kong's latest situation and new opportunities as the city resumed full connectivity with the world. He pointed out that Hong Kong is quickly returning to normalcy from the pandemic, and as the Mainland has speeded up its opening, the economy this year will pick up growth. 

Hong Kong saw further improvement in the labor market, with its seasonally adjusted unemployment rate fell by 0.2 percentage point to 3.5% in October – December 2022, and the underemployment rate declined slightly by 0.1 percentage point to 1.5%, as compared to the previous three-month period. With most social distancing measures removed by the Government and normal travel between Hong Kong and the Mainland gradually resumed, domestic economic activities are likely to show a more visible revival and the labor market should continue to improve in the near term. 

Overall consumer prices in Hong Kong rose 2% year-on-year in December 2022. The underlying consumer price inflation rate remained moderate in the month, though showing some increase from the preceding month mainly due to a surge in fresh vegetable prices. Prices of energy-related items soared further year-on-year, and those of clothing and footwear as well as food continued to increase visibly. But price pressures on other major components remained broadly in check. Notwithstanding the intensive external price pressures, overall inflation could face some upward pressure, but should remain moderate in the near term.

COVID-19

Starting January 30, Hong Kong will no longer issue isolation orders to people infected with COVID-19. All those who test positive by nucleic acid or rapid antigen tests are not required to report and provide personal particulars via the Centre for Health Protection’s online platform. In addition, with effect from January 26, mask-wearing will be exempted in religious premises where a host or speaker delivers a speech to participants in a religious activity. Exemptions will also apply to the consumption of food or drink at a table or an exhibition booth during an exhibition in a place of public entertainment or event premises, and toasting on stage at an event in catering premises or any scheduled premises.

BASIC LAW

The Basic Law (BL) is the constitutional document of the Hong Kong Special Administrative Region (HKSAR). It provides the guarantees to maintain our existing way of life, including socio-economic development, the rights and duties of Hong Kong people, the rule of law and other areas. The Basic Law was put into effect on July 1, 1997.

Q: Is Chinese the only official language allowed under the Basic Law?

A: No, in addition to Chinese, English is also an official language used by the executive authorities, the legislature and the judiciary of the HKSAR. (BL Article 9)