Newsletter

January 2021

Dear friends,

Here is the latest issue of Hong Kong Files, a newsletter published by the Hong Kong Economic and Trade Office that contains major news on Hong Kong and our office. You are welcome to share the information with colleagues and interested parties.

Upcoming activities highlights

Asia Financial Forum 2021 [18-19 January, 2021] Asian Financial Forum brings together influential members of the global financial and business community for dynamic discussion and exchanges of insights and novel ideas on the global economy from an Asian perspective.
Budget 2021-2022 [24 February, 2021] The Financial Secretary, Mr Paul Chan, will announce his Budget 2021-2022 for Hong Kong on 24, February, 2021. You can read more about it here.
Hong Kong Arts Festival [February and March, 2021] Since 1973, the annual Hong Kong Arts Festival is committed to enriching the cultural life of the city by presenting leading local and international artists in all genres of the performing arts. This year the festival will feature a combination of online and in-venue programmes, including an array of PLUS, outreach and education events.

Latest Developments and updates

ASEAN-Hong Kong FTA & IA fully ratified The part in relation to Cambodia under the Free Trade Agreement (FTA) and the Investment Agreement (IA) between Hong Kong and ASEAN will take effect on February 12, signifying that the FTA and the IA signed between Hong Kong and the 10 member states of ASEAN will come into effect in full. The agreements are comprehensive in scope, encompassing trade in goods, trade in services, investment, economic and technical co-operation, dispute settlement mechanisms and other related areas. They bring about legal certainty and better market access, and help to reduce the restrictions in doing business and expand business opportunities.
Policy Address 2020 The Chief Executive, Mrs Carrie Lam, delivered her Policy Address on 25 November, 2020. Titled “Striving Ahead with Renewed Perseverance”, the Policy Address revealed wide-ranging strategies which would propel Hong Kong’s further development beyond the pandemic. Making full use of our city's advantages under the "One Country, Two Systems" principle, the Government strives to reboot Hong Kong's economy, create new opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area and further promote innovation and technology. It also seeks to restore Hong Kong's constitutional order, consolidate and enhance Hong Kong's strengths and diversify its economic development, and build on past efforts to continue to improve people's well-being, with a view to resolving our immediate and long-term social problems. Read more about the policy address here.
FS speaks at the 21st Hong Kong Forum The 21st Hong Kong Forum concluded successfully on 1-3 December 2020. Speaking at the forum, the Financial Secretary, Mr Paul Chan, noted that the FTA and IA between HK and ASEAN will boost business & investment opportunities. He also pointed out that the Greater Bay Area development is important for Hong Kong, and it will be the natural conduit for Hong Kong to participate in and benefit from Mainland's domestic circulation under the country’s new economic development pattern of "dual circulation".
FS: HK economy to recover in 2021 In his blog, the Financial Secretary, Mr Paul Chan, said while the situation for the Hong Kong economy in 2021 may remain difficult, signs of turnaround will gradually emerge. He pointed out some future trends including the prevalence of online shopping and “stay-at-home” economy, and the acceleration of deglobalisation in the global economy. Hong Kong should grasp the gist of the country’s development pattern, featuring the “dual circulation”, and rightly position ourselves to speed up our economic recovery, he said.
The smartest link in the chain The world is demanding better supply chains in the midst of COVID-19, trade tension, growing economic nationalism and the rise of e-commerce. Hong Kong is investing in its people, infrastructure and innovation to create digital-first, sustainable supply chains to help the city strengthen its status as Asia’s leading logistics hub. Learn more in this video.	Full infographics
Hong Kong: Resilience during the pandemic In this Financial Times series, read about how Hong Kong rise to the challenges brought by COVID-19 with innovation and technology, and how the city is moving forward with strategies on technology, innovation and resilience to ensure our city continues to respond well to future public health crises.
Hong Kong COVID updates Hong Kong will provide vaccines to the entire population on a voluntary basis and free of charge. The first batch of vaccines is expected to be delivered to Hong Kong in January 2021 the earliest. Also, new steps have been taken to prevent community spreading and imported case. Read our special newsletter on COVID-19 to learn more.
HKETO visits Surabaya Our office visited Surabaya, Indonesia, from 11 to 13 November, 2020 to meet with members of key business and industry association, including East Java KADIN and Surabaya KADIN, to promote Hong Kong to the business community in the second largest metropolitan area in Indonesia.
Webinar: Hong Kong Market Update: Innovation & Technology Sectors Our office and Invest Hong Kong, in collaboration with Hong Kong Science and Technological Park and with the support of Malaysia Digital Economy Corporation, co-organised a webinar titled “Hong Kong Market Update: Innovation and Technology Sectors” on 15 December, 2020. The webinar discussed the latest development trend of technology ecosystem in Malaysia and provide an update on innovative companies in Hong Kong as well as the city’s competitive advantages and attributes for startups and technological companies to expand further in the greater Asia market. You can review the webinar online.
Christmas and New Year celebration in Hong Kong We do hope that you had a great Christmas and new year holiday, and would like to share how we celebrate the festival in Hong Kong!