Newsletter

August 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

The Landscape for Consumer Products and Hospitality Businesses – Indonesia, Hong Kong and the Greater Bay Area Join on our special webinar on 25 August and get to know about the latest development and initiatives on Hong Kong's role as a regional hub for consumer products and hospitality businesses, our city's competitive edges in the development of the Guangdong-Hong Kong-Macao Greater Bay Area Development, as well as the benefits Hong Kong can offer to Indonesian companies to move up the global and regional supply and value chains. Register here.

Latest Developments and updates

HK Olympians’ historic haul does the city proud Hong Kong athletes displayed the extraordinary capability of HK at the Tokyo 2020 Olympic Games, capturing a gold medal, two silver medals and three bronze medals in five sports and achieving the city’s best results in history. We are moved by the courage and perseverance of all the athletes in competitions, with a number of them breaking Hong Kong records or their own records. Their performances have made Hong Kong people feel proud.
HK Paralympic team on the way to Tokyo Hong Kong cheers for our delegation to the Tokyo 2020 Paralympic Games. This year our city will send 24 athletics to compete in eight sports. Our city will give our full support towards our elite athletes!
Chief Executive and senior officials reaffirm HK remaining an open and free economy The Chief Executive, Mrs Carrie Lam, and senior officials have reassured the international community that, despite the severe challenges such as social unrest and COVID-19 pandemic in the past two years, Hong Kong remains an open and free economy, underpinned by the rule of law and a robust regulatory regime. Our city’s status as an international financial centre has not changed and business confidence has not been shaken. Financial Secretary, Mr Paul Chan, said that Hong Kong's financial market has remained stable, orderly and vibrant, seeing active trading in stock market and thriving initial public offering activities. Financial data of the past year clearly shows that investors' confidence about Hong Kong has not been shaken by the National Security Law and the development of the financial industry has been very prosperous. Secretary for Commerce and Economic Development, Mr Edward Yau, also said that Hong Kong - with its prime location, unrivalled connections to China, East Asia, the ASEAN, and stability restored - is the best place in Asia for business and for investment. Hong Kong will continue to strive to help businesses, both local and international, grasp the tremendous opportunities arising from the development of the Mainland of China as well as its integration with the region and the global market.
"Reconnect and Reinforce: Hong Kong - Philippines Partnership" webina Speaking at a webinar for business and professional services sectors in Hong Kong and the Philippines, Secretary for Commerce and Economic Development, Mr Edward Yau, said that Hong Kong will not only continue to serve as a prime platform and key link for ASEAN to expand their economic footprints and connections with other parts of the world, but also will remain a close partner for ASEAN businesses and entrepreneurs to seek out new markets and embark on new business and investment ventures, especially tapping into the tremendous opportunities presented by the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area Development. Also speaking at the webinar are Secretary of Trade and Industry of the Government of the Republic of the Philippines, Mr Ramon Lopez, and business leaders from both places. You can review the webinar here.
Hong Kong to boost legal and dispute resolution services in Mainland Hong Kong continues to strengthen institutional set-ups to buttress the city’s role as a choice location for legal and dispute resolution services. In Beijing in late July, Secretary for Justice, Ms Teresa Cheng, SC, signed a record of meeting for enhancing exchanges and co-operation with the Supreme People's Court (SPC) of China. The key features include providing practical Mainland legal training courses for Hong Kong legal practitioners who have passed the Guangdong-Hong Kong-Macao Greater Bay Area Legal Professional Examination, rendering support to Hong Kong legal practitioners to join the International Commercial Expert Committee of the SPC and serve as specially invited mediators and assessors of people's courts in the Mainland, and promoting and proactively taking forward the work on mutual recognition of and assistance to bankruptcy proceedings.
HK: A resilient asset management hub Despite the global pandemic, Hong Kong's wealth management business is flourishing. Asset and wealth management business, net fund inflows and assets held under trusts registered a double-digit growth in 2020 compared to 2019, according to the latest figures from the Securities and Futures Commission. It is testament to our city's strength and competitiveness as a global asset management centre. Read more here.
HK adjusts inbound travel arrangements Effective 20 August, people travelling to Hong Kong from overseas will be subject to new inbound travel arrangements. New measures include enhanced COVID-19 testing as well as a compulsory quarantine for up to 21 days at a pre-booked designated quarantine hotel on arrival. Read more here.