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HKETONY x Chocolate Rain to promote HK-US cultural exchange

The “Hong Kong Meets America – Pop Art Exhibition” was successfully held at the American Dream Mall in East Rutherford, New Jersey (Oct 11-13), drawing in thousands of art lovers and families alike. Proudly presented by the Hong Kong Economic and Trade Office in New York (HKETONY) and curated by the beloved Hong Kong creative brand Chocolate Rain, this enchanting exhibition showcased a dazzling array of exhibits featuring iconic landmarks and culinary delights from both Hong Kong and New York, along with a variety of engaging activities and DIY workshops. Speaking at the opening ceremony of the exhibition, HKETONY Director Maisie Ho said the exhibition’s title, ‘Hong Kong Meets America’ truly reflects the office’s mission to celebrate the colorful cultural exchange between Hong Kong and the US. She added that the Hong Kong Special Administrative Region (HKSAR) Government is committed to advancing the city’s arts, cultural, and creative industries, with the aim of positioning Hong Kong as an East-meets-West hub for international cultural exchange. She also took the opportunity to invite audience to visit Hong Kong and experience its dynamic metropolitan charm, rich cultural heritage, and a full calendar of events year-round. We thank those who have joined us over the three days.

Hong Kong, with its “one country, two systems” framework, common law system, robust regulatory framework, and strong Renminbi infrastructure, will continue to play a key role in supporting the globalisation of the Mainland Chinese currency, said Maisie Ho, the Director of HKETONY, at the RMB Globalisation Forum (Sep 30). Co-organised by the Hong Kong Association of New York and Bank of China USA and supported by the HKETONY and China General Chamber of Commerce - USA, this full-house event featured industry leaders and experts, including the Chief Representative of the Hong Kong Monetary Authority in New York, Anson Law, who shared valuable insights on advancing Renminbi globalisation strategies.

New York paddlers donate to local charities

Three New York non-profit groups, Chinatown Health Clinic Foundation, Glow Community Center Inc. and Chinatown Manpower Project Inc., are the beneficiaries of the Hong Kong Dragon Boat Festival in New York Charity Race this year, receiving a total of US$9,000. The dragon boat teams of DCH Auto Group, Shanghai Commercial Bank and America Hotel Owners Charitable Association are continuing the philanthropic tradition to raise funds. Speaking at a check presentation ceremony (Oct 3), Director of HKETONY Maisie Ho thanked the festival organizer for having raised over $350,000 for local charities over its 34-year history. Next year’s festival is tentatively scheduled for Aug 9-10. HKETONY is the title sponsor of the event.

Hong Kong a top place to do business: World Bank Group

Hong Kong is among the top 10 performers of 50 economies covered in the first Business Ready 2024 Report published by the World Bank Group (Oct 3). The Report compares the overall performance of the economies in terms of their business environment under 10 topics and three pillars. Hong Kong ranked first in “International Trade”, fifth in “Operational Efficiency", and highly in “Utility Services”, “Taxation” and “Dispute Resolution”. The report recognise Hong Kong as an international trading centre with simple and clear regulations in business entry as well as stable and efficient utility infrastructure. It also highlights that Hong Kong has few restrictions on international trade in services and implements good practices in terms of information provision and regulations relating to company registration. The HKSAR Government said the Report fully illustrates the city’s role as a 'super-connector' and a 'super value-adder', and as a two-way door in attracting overseas enterprises and assisting Mainland enterprises to 'go global', adding that it will continue to work closely with the business sector and other stakeholders to create a more business-friendly and efficient environment for Hong Kong.

New trade in services pact signed

The HKSAR Government and China's Ministry of Commerce have signed (Oct 9) the Second Agreement Concerning Amendment to the Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services (Amendment Agreement II). Scheduled to be implemented on Mar 1, 2025, the Amendment Agreement II introduces new liberalisation measures across sectors including financial services, construction and related engineering services, testing and certification, telecommunications, motion pictures, television and tourism services, benefiting Hong Kong businesses and professionals by easing market access in Mainland China. Speaking at the signing ceremony, Chief Executive John Lee said the HKSAR Government will continue to encourage different sectors of the community to leverage the unique advantages of “one country, two systems”, and join hands with their counterparts on the Mainland to promote the competitiveness of the professional services sector in order to inject new impetus to economic development and achieve high-quality development.

Hong Kong has opportunities in transition finance: FS

With a robust regulatory framework, the necessary financial infrastructure, a well-developed finance market, and the expertise on standard-setting and compliance, Hong Kong already has a strong foundation to develop the transition finance market, said Financial Secretary Paul Chan at Hong Kong Green Finance Association (HKGFA) Annual Forum 2024 "Financing Asia's Net Zero Transition" (Oct 9). Also speaking at the event, Secretary for Financial Services and the Treasury, Christopher Hui, said Hong Kong’s advantage as a "super-connector" bridging Mainland China and global markets continues to solidify the city’s status as the world's premier fund-raising hub and an international green finance powerhouse. The 2024 HKGFA Annual Forum has brought together policy makers, regulators, multi-lateral development banks, and private sector players worldwide to deepen the dialogue on regional collaboration, innovation and solutions in the sustainable finance field. 

FinTech Week to kick off on Oct 28

Themed "Illuminating New Pathways in Fintech", the Hong Kong FinTech Week 2024 (HKFW) will take place from Oct 28 to Nov 1. Expecting to draw over 30,000 attendees from more than 100 economies, the event this year will feature eight themed forums on cross-industry connections and the latest technologies such as artificial intelligence. It will also feature a record number of big tech companies from the Mainland showcasing their latest innovations, as well as notable speakers and delegates from the Association of Southeast Asian Nations and the Middle East. Speaking at the press conference of the event (Oct 8), the Secretary for Financial Services and the Treasury, Christopher Hui, said Hong Kong has emerged as a super connector and super value-adder for fintech thanks to its strategic location and robust financial infrastructure. He stressed that, owing to various initiatives aimed at attracting and retaining strategic companies and talent, Hong Kong is primed to reap the benefits of Hong Kong FinTech Week, paving the way for connected, efficient, and sustainable global economic growth from fintech operations.

New SFC chairman appointed

Dr Kelvin Wong has been appointed as Chairman of the Securities & Futures Commission (SFC) for a term of three years, with effect from Oct 20. He will succeed Tim Lui, who will complete his six-year tenure. Dr Wong has extensive experience in the operation of the securities and futures markets, capital market development, corporate governance and financial regulatory matters. He was a non-executive director of the SFC from 2012 to 2018 and a Stock Exchange Listing Committee member from 2007 to 2013. He is currently Chairman of the Accounting & Financial Reporting Council.

Family office collaboration unveiled

The Financial Services & the Treasury Bureau has collaborated with Bloomberg L.P. to establish the Hong Kong Family Office Nexus. The partnership aims at attracting family offices from around the world to establish or expand their presence in Hong Kong, and at reinforcing the city’s status as a leading global asset and wealth management hub. It will focus on four “pillars”, namely community building, knowledge sharing, technological support, and philanthropic collaboration. Together with Invest Hong Kong and the Hong Kong Academy for Wealth Legacy, the bureau will work with Bloomberg on various initiatives designed to bolster Hong Kong’s family office ecosystem. In addition, Bloomberg will inaugurate a new wealth management summit in Hong Kong next March, coinciding with the bureau’s Wealth for Good in Hong Kong Summit, to create synergy and sustain the growing momentum in Hong Kong's family office sector.

FS: Hong Kong an ideal place for family office

Hong Kong, with the city’s unique strengths under "one country, two systems", staunch support from the country, and diverse investment offerings and opportunities, is an ideal place for ultra-high-net-worth families and individuals to place their wealth, said Financial Secretary Paul Chan at the welcome dinner for the Standard Chartered Private Bank Global Family Network 2024 (Oct 15). He added that Hong Kong will soon launch an "Impact Link" platform to foster the connection between family offices and high-potential, high-social impact philanthropy programmes, stressing that Hong Kong is where to conserve and grow wealth across generations. The event has brought together influential families from across Asia, the Middle East and Europe.

The Hong Kong Legal Week 2024 (HKLW2024), one of the most anticipated international legal events of the year, is set to take place from Nov 4-8. Themed “Hong Kong Common Law System – World-Class Springboard to China and Beyond”, the HKLW2024 will address a series of important regional and international legal and dispute resolution issues, including international legal cooperation, mediation, arbitration, opportunities along the Belt and Road and in the Guangdong-Hong Kong-Macao Greater Bay Area, as well as maintaining and advancing Hong Kong’s rule of law. Register here to join in person or via live stream and stay updated on the latest legal developments.

HKIA hosts “Twilight of the Warriors: Walled In” exhibition

Good news for fans of Hong Kong mega blockbuster "Twilight of the Warriors: Walled In" (九龍城寨之圍城)! A thematic exhibition of the film has officially arrived at the Hong Kong International Airport (HKIA), showcasing jaw-dropping installations, including a towering 6.5-metre-tall film set featuring a two-story Walled City attic and the legendary "Kowloon Walled City" neon sign. Officiating at the opening ceremony of the Exhibition (Oct 7), Chief Executive John Lee said Hong Kong movies have long been highly appreciated internationally. The HKSAR government will work closely with various sectors to promote Hong Kong cinema and continue developing movie-inspired tourism projects to attract more visitors to Hong Kong, he added. The first phase of this stunning exhibition runs until Nov 20 in Arrival Hall A. It will continue in Dec at the AIRSIDE Mall in Kowloon City where the old Hong Kong Kai Tak Airport was, showcasing even more of the city’s rich history intertwined with cinematic magic.

Performing Arts Expo opens

The inaugural Hong Kong Performing Arts Expo (HKPAX) is being held from Oct 14 - 18. Organised by the Hong Kong Arts Development Council, HKPAX provides a comprehensive platform for showcasing top-notch performing arts productions from the international and local community, as well as promoting exchanges and collaborations to create business opportunities for these programmes and creative talents. Speaking at the event opening ceremony (Oct 14), Chief Secretary for Administration, Chan Kwok-ki, said the HKSAR Government is committed to strengthening Hong Kong's position as an East-meets-West centre for international cultural exchanges. He added that HKPAX has succeeded in establishing itself as an important platform for new artistic connections and exchanges, and has made a mark for Hong Kong in the world of performing arts.

The Basic Law (BL) is the constitutional document of the 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. Article 23 of the BL stipulates that the HKSAR shall enact laws on its own to prohibit any act of treason, secession, sedition, subversion against the Central People’s Government, or theft of state secrets, to prohibit foreign political organizations or bodies from conducting political activities in the HKSAR, and to prohibit political organizations or bodies of the HKSAR from establishing ties with foreign political organizations or bodies.



Q: Has reference been made to the laws on safeguarding national security in foreign countries?

A: Many common law jurisdictions, including western countries such as the United States, the United Kingdom, Canada, Australia and New Zealand, and Singapore have enacted various laws to safeguard national security. Appropriate reference have been made to the legislative experience of other countries, based on the practical need of the HKSAR to cope with the past, present and future national security risks that can be foreseen.