Hong Kong Update for Travellers and Others

Get travel advice and stay on top of the latest developments in Hong Kong affecting the airport, public transport, public safety and other issues.

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Closely monitoring economic situation: Financial Secretary

August 7, 2019 - The Government is closely monitoring Hong Kong's economic situation and livelihood issues, said Financial Secretary Paul Chan (Aug 8), who noted that the city's second quarter economic data shows that on a quarter-to-quarter basis, the GDP has decelerated in the second quarter, with a downward adjustment of about 0.3%. He added that the economic situation was challenging domestically and externally in July. Details here.

Continuing Student Outreach

August 6, 2019 - Bryan Ha, director of the Hong Kong Economic and Trade Office, briefed a diverse group of visiting students from the Osgood Center for International Studies on the mission of the office, US-Hong Kong relations and the latest developments in Hong Kong.

Restoration of law and order urged

August 5, 2019 - Chief Executive Carrie Lam urged all sectors and citizens of Hong Kong to set aside differences, and bring order back to the city. Speaking at a media session (Aug 5), she reiterated that the Fugitive Offenders Ordinance is dead and that there’s absolutely no room politically to trigger the exercise to amend the ordinance. Noting that recent protests have escalated beyond their original demands and have seriously undermined Hong Kong’s law and order, Mrs Lam said the Government is resolute in maintaining law and order and called on people to refrain from violence. Details here.

Dragons glide across Meadow Lake

August 2, 2019 - More than 200 teams and 2,500 paddlers went head to head in the 29th Hong Kong Dragon Boat Festival in New York (Aug 3-4) at Meadow Lake in Flushing Meadows Corona Park. Aside from cheering on the racers, more than 30,000 spectators also had the opportunity to experience the East-meets-West culture of Hong Kong through an array of land programs such as dragon dance, martial arts demonstrations, music performances, arts and crafts, as well as food and games. The Hong Kong Economic and Trade Office in New York (HKETONY) promoted Hong Kong through its festival booth. Earlier in the week, Director of HKETONY Joanne Chu, joined the festival organizer and sponsors to ring the closing bell of the New York Stock Exchange (Aug 2). Details here.

Base Rate lowered to 2.5%

August 1, 2019 - The Hong Kong Monetary Authority had lowered (Aug 1) the Base Rate by 25 basis points to 2.50% with immediate effect. The decrease in the Base Rate follows the 25-basis point downward shift in the target range for the US federal funds rate on July 31 (US time). The Base Rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through the Discount Window are computed. It is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates (HIBORs), whichever is the higher. Details here.

June retail sales down 6.7%

August 1, 2019 - June retail sales was valued at US$4.5 billion (US$35.2 billion) this year, down 6.7%year-on-year. The decrease in sales was mainly due to an increasingly more cautious consumer sentiment, as well as a slowing in the number of visitor arrivals. With the current global and local socioeconomic climates, the near-term performance of retail sales will likely remain subdued. Details here.

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