Hong Kong Economic and Trade Office, USA
Hong Kong

What’s New

Hong Kong Meets America
   
Government rejects US Report

March 22, 2019 - In response to media enquiries (Mar 22) about the US Department of State’s Hong Kong Policy Act Report, the Government said human rights and freedom in Hong Kong are fully protected by the Basic Law, the Hong Kong Bill of Rights Ordinance and other legislation. The Government is determined to safeguard them. Details here.

Government rejects US Report
   
HK strengths clearly recognized in Greater Bay Area plan

March 21, 2019 - The Greater Bay Area will strengthen Hong Kong’s status as a global offshore RMB business hub and international asset and risk management center, said Chief Executive Carrie Lam at the Bloomberg Invest Asia forum in Hong Kong (Mar 21), adding that the development of the megalopolis would create massive opportunities for businesses. Hong Kong’s unique advantage under the “one country, two systems” along with a legal system rooted in the rule of law makes Hong Kong an ideal place to connect the Mainland and the world. Details here.

HK strengths clearly recognized in Greater Bay Area plan
   
Exchange rate stability well maintained: HKMA

March 21, 2019 - The Hong Kong Monetary Authority would continue to maintain exchange rate stability in accordance with the linked exchange rate system, said Chief Executive of HKMA Norman Chan. He pointed out that despite the US Fed’s decision to hold rates steady, interest rate differentials between Hong Kong dollar and US dollar remains. Details here.

Exchange rate stability well maintained: HKMA
   
Grasping opportunities brought by Belt & Road Initiative

March 20, 2019 - The Government will continue to forge economic partnerships with other economies, including the Belt & Road countries and regions to help Hong Kong enterprises and investors expand overseas, said Acting Secretary for Commerce and Economic Development, Bernard Chan. Addressing lawmakers (Mar 20), he added that the Government and HKTDC will again be co-organizing the 4th B&R Summit in September to promote and foster Hong Kong as an international commerce and trading platform. Details here.

Grasping opportunities brought by Belt & Road Initiative
   
Extradition law revision urgently needed: CE

March 19, 2019 - The Government’s proposed amendments to the Fugitive Offenders Ordinance and the Mutual Legal Assistance in Criminal Matters Ordinance are intended to pursue judicial justice in criminal cases and protect public safety, said Chief Executive Carrie Lam before attending an ExCo meeting (Mar 19). She added that it is important to plug the loophole as soon as possible. Details here.

Extradition law revision urgently needed: CE
   
HK committed to I&T development: FS

March 19, 2019 - Financial Secretary Paul Chan said the Government is committed to the development of the I&T sector, with investment priorities in I&T infrastructure, R&D, and talent development. Progress has been made with the HK$10 billion (US$1.28 billion) earmarked in 2018 to boost two innovative clusters (AI/robotics and healthcare tech). He told business leaders at the Joint Business Community Luncheon (Mar 19) that Hong Kong universities are partnering with top overseas schools such as Harvard, Johns Hopkins, Stanford, Oxford, Cambridge, Imperial College and MIT to set up research projects in Hong Kong, creating new opportunities. Details here.

HK committed to I&T development: FS
   
Key Economic indicators

March 19, 2019
· Q4 2018 GDP increased by 1.3% year-on-year
· Overall 2018 GDP increased by 3.0% year-on-year. Details here.

Key Economic indicators
   
HK continues to enjoy full employment

March 19, 2019 - Secretary for Labour and Welfare Law Chi-kwong said the labor market remained in full employment in Dec 2018 – Feb 2019. The seasonally adjusted unemployment rate remained unchanged at 2.8%, while the underemployment rate edged down by 0.1 percentage point to 1.0%. Details here.

HK continues to enjoy full employment
   
CE meets members of Congressional US-China Working Group

March 18, 2019 - Chief Executive Carrie Lam expressed the hope that Hong Kong and US will strengthen mutually beneficial co-operation and expand common interests during a meeting with members of Congressional US-China Working Group (Mar 18). Mrs Lam pointed out that Hong Kong is striving to advance the development of I&T and more US institutions and technology firms are encouraged to establish a presence in the city. Currently, US is Hong Kong’s second largest trading partner and enjoys the highest trade surplus with Hong Kong among all other economies. Details here.

CE meets members of Congressional US-China Working Group
   
HKU partners with Japan’s Tohoku University for transformative AI development

March 16, 2019 - A transformative AI or robotics technologies research centre will be jointly set up in Hong Kong by the University of Hong Kong and Tohoku University. Witnessing the signing of the collaboration agreement (Mar 16), Secretary for Innovation and Technology Nicholas Yang said the Government is providing policy and tax incentives to enhance Hong Kong’s I&T ecosystem with the vision to make the city a global hub for R&D. Details here.

HKU partners with Japan’s Tohoku University for transformative AI development
   
“One country, two systems” successfully implemented: CS

March 15, 2019 - The “one country, two systems” has proven a successful innovation, said Chief Secretary Matthew Cheung at the plenary meeting of the United Nations Human Rights Council (Mar 15) in Geneva, adding that the Government is committed to upholding the principle of “one country” whilst leveraging Hong Kong’s unique advantages under “two systems.” The SAR will seize the immense opportunities of the national Belt & Road Initiative and Greater Bay Area development to propel forward. Details here.

“One country, two systems” successfully implemented: CS
   

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