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Hong Kong International Airport remains Asia’s best

Hong Kong International Airport (HKIA) retains its title as Asia’s Leading Airport for the second consecutive year at the World Travel Awards (WTA) after winning it in 2020 and 2021. HKIA was also recognised as China’s Leading Airport in the same awards. The awards underscore HKIA’s strong recovery in travel, with a post-pandemic peak in passenger traffic in July 2024. Dubbed the “Oscars of the travel industry,” the World Travel Awards recognise excellence in travel, tourism, and hospitality.

Opportunities in Hong Kong promoted in Atlanta

Director of the Hong Kong Economic and Trade Office, New York (HKETONY) Maisie Ho visited Atlanta, Georgia (Sep 5 to 8) to promote Hong Kong’s business opportunities and talent attraction measures. At a luncheon (Sep 6) with representatives of European American chambers of commerce in Atlanta, she highlighted Hong Kong’s unique advantages and the abundant opportunities available for companies worldwide. At two career-sharing sessions (Sep 6), held respectively at Emory University and Georgia Institute of Technology, she provided an overview of various talent admission schemes in Hong Kong and encouraged attendees to explore the city’s dynamic career opportunities. She also officiated at the Atlanta Hong Kong Dragon Boat Festival (Sep 7) at Lake Lanier Olympic Park. The flagship event attracted about 80 teams from Florida, Georgia, North Carolina and South Carolina. The HKETONY also set up a festival booth to promote Hong Kong to spectators.

The New Capital Investment Entrant Scheme (New CIES) has garnered strong response since its launch on Mar 1, receiving more than 500 applications and over 5,000 enquiries. Invest Hong Kong expects the scheme will bring an investment amount of more than US$1.9 billion into the city. Director-General of Investment Promotion Alpha Lau said the increasing application figures reflect the strong confidence from high-net-worth individuals in Hong Kong. An eligible applicant must have net assets of not less than US$3.8 million in the two years preceding his or her application, and make an investment of US$3.8 million in Hong Kong within the six-month time limit. More information on the eligibility criteria and relevant details can be found on the website.

Green bond report released

The Hong Kong Special Administrative Region (HKSAR) Government released (Sep 13) its Green Bond Report 2024, which sets out the allocation of the proceeds raised from green bond issuances and the expected environmental benefits of the projects financed. To date, green bonds totalling close to US$28.2 billion in value have been issued to fund various green projects in Hong Kong. Secretary for Financial Services & the Treasury Christopher Hui said the Government will continue to integrate green finance with fintech, provide a transparent and well-defined sustainability reporting pathway for businesses in Hong Kong, consolidate the city’s position as a regional and international green and sustainable finance hub, and drive and support enterprises in green transformation.

New industrialisation fund launched

The Innovation & Technology Commission launched (Sep 16) a US$1.3 billion New Industrialisation Acceleration Scheme to provide funding support for enterprises in strategically important industries (life and health technology, artificial intelligence, data science, advanced manufacturing, or new energy technology) to set up new smart production facilities in Hong Kong. The Government will provide funding by supplementing investments, on a 1:2 basis, by enterprises. The minimum total project cost for each project is US$38.5 million, with enterprises contributing no less than US$25.6 million and the Government providing a maximum of one-third the total approved costs or US$25.6 million, whichever is lower. The Government will encourage enterprises with approved projects to carry out research in Hong Kong, or increase the scale of their research in the city, by providing additional funding for them to engage research talent, and to employ any non-local talent required for setting up their new production facilities in Hong Kong.

The HKSAR Government welcomed (Sep 5) the announcement by the People’s Government of Guangdong Province that it will issue offshore renminbi (RMB) local government bonds not exceeding RMB5 billion in Hong Kong. The bonds will be issued in two, three and five-year tenors. Chief Executive John Lee said this fully demonstrates Hong Kong’s significant strengths in issuing RMB debt products, and also further solidifies Hong Kong’s position as a global offshore RMB business hub. It also contributes to the prudent and solid advancement of RMB internationalisation, and enables the bay area to better serve as the momentum for high-quality development.

HKETONY to present pop art exhibition by Chocolate Rain

The Hong Kong Economic and Trade Office, New York (HKETONY) will present the “Hong Kong Meets America – Pop Art Exhibition” at American Dream Mall in East Rutherford, New Jersey from Oct 11 – 13, showcasing the whimsical works of Hong Kong’s creative brand Chocolate Rain. Attendees can discover the commonalities between Hong Kong and the US through larger-than-life inflatables and 3D representations of iconic landmarks of both places such as Hong Kong’s Big Buddha and Star Ferry, alongside New York’s Statue of Liberty and yellow cabs. The exhibition will feature interactive activities and DIY workshops in the creative world of Chocolate Rain. This free admission exhibition is perfect for art lovers and families alike, offering a unique and engaging experience that celebrates the magic of cross-cultural creativity.

Hong Kong athletes won three gold, four silver and one bronze in swimming, boccia and badminton at the Paris 2024 Paralympic Games (Aug 28 – Sep 8), achieving the best overall result since the 2016 edition in Rio. At a welcome home reception (Sep 16), Chief Executive John Lee presented certificates of commendation to the 23-strong Hong Kong delegation in recognition of their excellent performance. He also extended his appreciation to the coaches, medical team, staff, as well as the relevant sports committees and sports associations. He praised the athletes for showcasing their indomitable sportsmanship and serving as examples of telling good Hong Kong stories on the international stage.

HK Open Badminton Championships a smashing success

Denmark’s Paris Olympic badminton champion Viktor Axelsen smashed his way to victory to win the men’s title at the Hong Kong Open Badminton Championships 2024 (Sep 10 – 15), with a 2:0 victory over China’s Lei Lanxi. Lei’s teammate Han Yue swept aside Indonesia’s Putri Kusuma Wardani to clinch the women’s title. Malaysia’s Pearly Tan and Thinaah Muralitharan picked up their first Hong Kong Open women’s doubles crown. South Korea’s Seo Seung-jae and Kang Min-hyuk claimed the men’s doubles title with China’s Jiang Zhenbang and Wei Yaxin winning the mixed doubles title. The Championships is part of the HSBC BWF World Tour Super 500.

HKSAR Government recruiting

HKETONY organised an information session (Sep 13) for Hong Kong students studying in New York and neighbouring states to learn more about the roles of Administrative Officer (AO) within the HKSAR Government. The session was held in conjunction with the start of the recruitment exercise by the HKSAR Government for AO, Executive Officer II, Assistant Trade Officer II, and Transport Officer II positions. The recruitment is open to all permanent residents of the HKSAR, who meet the relevant entry requirements. Interested applicants are invited to submit their applications through an online application system on or before Oct 4 (Hong Kong time). Students pursuing a bachelor’s degree or equivalent and graduating in 2025 or 2026 may also apply. Applicants in the US may take part in the relevant tests and initial assessments tentatively scheduled on Dec 7 in New York. More information about the joint recruitment exercise can be found on the Civil Service Bureau website and the government portal GovHK. Information on AO recruitment is also available on another dedicated website.

The three Economic and Trade Offices (ETOs) of the HKSAR in the US will continue to promote Hong Kong’s unique advantages, tell the good stories of Hong Kong and, where necessary, refute erroneous reports and clarify misconceptions without fear or favour, so as to foster economic and trade relations and co-operation on different fronts between Hong Kong and the US on a mutually beneficial basis. The HKSAR Government was responding (Sep 11) to the US House of Representatives on passing the so-called HKETO Certification Act to slander laws on safeguarding national security in Hong Kong and smear the human rights situation in Hong Kong. A government spokesman said the three ETOs in the US have been operating in accordance with local legislation and maintaining close liaison with interlocutors in government, business, think tanks and various sectors to enrich ties between Hong Kong and the US in different areas such as trade, investment, and arts and culture. In fact, the US has had a very strong trade surplus with Hong Kong over the past 10 years of about US$270 billion, the largest among its global trading partners, and more than 1,200 US companies have set up businesses in Hong Kong.

HK welcomes overseas companies, including American ones

On Sep 7, the HKSAR Government rejected the misleading and untruthful remarks on Hong Kong’s legal system and business environment in the so-called updated “business advisory” issued by various departments of the US government which tried to create panic. In a statement, the HKSAR Government said the successful implementation of the laws relevant to safeguarding national security in the city has brought about a stable and safe environment conducive to business and investment. It pointed out that Hong Kong ranked fifth in global competitiveness this year, and its foreign direct investment inflow was the fourth largest in the world last year. Hong Kong was also the world's 10th largest trading entity in merchandise trade. As a free and open international city, Hong Kong continues to welcome overseas companies, including American companies, to make full use of the business opportunities introduced by Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area, to set up offices in Hong Kong, and take Hong Kong as their regional headquarters or regional offices.

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: Do the offences under Basic Law Article 23 legislation have retrospective effect?

A: No. According to Article 12 of the Hong Kong Bill of Rights Ordinance, the offences under the Safeguarding National Security Ordinance (“the Ordinance”) have no retrospective effect on acts committed before the enactment of the Ordinance.