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JULY 18 - 24, 2023

EVENTS

The Hong Kong Economic and Trade Office in New York (HKETONY) hosted a special reception (Jul 19) in honor of Louis Koo to celebrate his remarkable achievements in the creative industry in Hong Kong and Asia. Koo was in New York to receive the Extraordinary Star Asia Award for Exceptional Contribution to Asian Cinema presented by the New York Asian Film Festival (NYAFF). Some 150 guests from the state and city governments, diplomatic circles, business sector, think tanks and cultural organizations joined Koo and his team, including Director Cheuk Wan-chi of “Vital Signs”, for a jovial evening. In her welcoming remarks, the Director of the HKETONY Candy Nip praised Koo for being a versatile actor, a passionate producer, an advocate for artistes, and a generous philanthropist. She also thanked the NYAFF for its zealous partnership in showcasing Hong Kong movies and film talents in New York over the past 14 years. A total of 9 Hong Kong films were featured at this year’s NYAFF Hong Kong Panorama film series sponsored by the HKETONY.

A dragon boat sponsored by the HKETONY glided across the Central Park Lake on Jul 20 as part of the festivities leading up to the annual Hong Kong Dragon Boat Festival in New York. Representatives of the Festival organizing committee, HKETONY, New York City Department of Parks and Recreation, and other sponsors took part in the “eye-dotting” ceremony to bring the dragon boats alive for the upcoming Festival to be held on Aug 12 and 13 at the Flushing Meadows Corona Park. The Director of the HKETONY Candy Nip said the Festival represents the office’s commitment to promoting Chinese culture, Hong Kong traditions as well as friendship between Hong Kong and New York. The HKETONY first introduced modern dragon boat racing to New Yorkers in 1991 with 10 teams competing on the Hudson River. Since then, the Festival has become an annual summer extravaganza on the city’s event calendar and there will be more than 170 teams competing this year.

SPORTS

Hong Kong karate athletes bagged two golds at the Asian karate championships (Jul 21-23). Grace Lau won her first gold in the women’s kata event at the Asian Karate Federation (AKF) Championships while Tsang Yee-ting won a gold medal in the senior female individual kumite – 50kg event at the AKF Senior Championships. Secretary for Culture, Sports and Tourism Kevin Yeung extended his congratulations to both athletes on their achievements.

Photo credit: Grace Lau and Tsang Yee-ting's instagram

EDUCATION

Two teams of Hong Kong students achieved remarkable results in the 64th International Mathematical Olympiad (IMO 2023) (Jul 2-13) and the 53rd International Physics Olympiad (IPhO 2023) (Jul 10-17) in Japan. Hong Kong secured one gold, one silver and four bronze medals at the IMO 2023, while another Hong Kong team won one gold, three silver and a bronze at the IPho 2023. Secretary for Education Choi Yuk-lin said the Education Bureau will inject an additional US$77 million into the Gifted Education Fund to strengthen support for the work of the Hong Kong Academy for Gifted Education and organize more citywide, national and international training and competitions.

ECONOMY

Overall consumer prices rose 1.9% in June year-on-year, slightly down from the 2% increase in May. Netting out the effects of the government's one-off relief measures, the underlying inflation rate was 1.7%, also slightly lower than May’s 1.8%. Looking ahead, overall inflation should stay moderate in the near term and that external price pressures may recede further. While domestic business costs could face some upward pressures, these are likely to remain largely moderate in the near term.

The seasonally adjusted unemployment rate fell to 2.9% in the Apr – Jun period, compared with the previous three-month period. The underemployment rate also decreased to 1.1% from 1.2% during the same period. The labor market should improve further in the coming months as the economic recovery gathers further strength.

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: Does the HKSAR enjoy executive, legislative and independent judicial powers?

A: Yes. The National People’s Congress authorizes the HKSAR to exercise a high degree of autonomy and enjoy executive, legislative and independent judicial powers, including that of final adjudication. The Chief Executive heads the HKSAR and the Government of the HKSAR. The Executive Council, consisting of members appointed by the Chief Executive, assists the Chief Executive in policy making. The legislature, which is constituted by election, enacts legislation, while the judiciary exercises judicial power independently free from interference. (BL Articles 2; 16; 17; 19; 43; 54; 55; 66; 68; 73; 85)