Hong Kong Economic and Trade Office, USA
Hong Kong
     
     
  News Release  
     
     

Financial results for the five months ended August 31, 2017
September 29, 2017 - The Hong Kong Special Administrative Region Government announced today its financial results for the five months ended August 31, 2017.

Hong Kong Exchange Fund at US$501.5 billion
September 29, 2017 - The Hong Kong Monetary Authority announced today that the total assets of the Exchange Fund amounted to HK$3,912.4 billion (US$501.5 billion) as at August 31, 2017. This is HK$0.2 billion (US$25 million) higher than that at the end of July 2017. Foreign currency assets increased by HK$35.2 billion (US$4.5 billion) while Hong Kong dollar assets decreased by HK$35 billion (US$4.4 billion).

Government Welcomes Fintech Sandboxes by Regulators
September 29, 2017 - The Hong Kong Special Administrative Region Government welcomed the announcements by the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC) and the Insurance Authority (IA) today on their sandbox initiatives to facilitate the development of financial technologies (Fintech) in Hong Kong.

Hong Kong Remains World’s Freest Economy
September 28, 2017 - Clement Leung, Hong Kong Commissioner to the United States, welcomed the publication of the 2017 Economic Freedom of the World report which once again ranks Hong Kong as the world leader in economic freedom.

Hong Kong Jumps Ahead in Global Competitiveness
September 27, 2017 - Hong Kong made the largest leap among the top 10 economies in this year’s Global Competitiveness Report published by the World Economic Forum. Hong Kong jumped ahead three places to 6th place over last year’s report.

Hong Kong team takes part in Hong Kong-Northern California International Dragon Boat Festival
September 25, 2017 – A team of 22 young athletes from Hong Kong participated in the Hong Kong-Northern California International Dragon Boat Festival for the first time and won the second place in the USTA Net Generation College Cup. The two-day festival was held on September 23 and 24 (San Francisco time) at Lake Merritt in Oakland, California.

Hong Kong participates in 2017 Pan-Pearl River Delta Regional Cooperation Chief Executive Joint Conference
September 25, 2017 – The 2017 Pan-Pearl River Delta (PPRD) Regional Cooperation Chief Executive Joint Conference (Joint Conference) was held in Changsha, Hunan today. The Chief Executive, Mrs Carrie Lam, led the Hong Kong Special Administrative Region (HKSAR) Government delegation to participate in the Joint Conference.

HKSAR Government’s response to S&P’s announcement of change to Hong Kong’s credit rating
September 22, 2017 – In response to the announcement by S&P Global Ratings today to lower the long-term credit rating of Hong Kong to “AA+” from “AAA”, with a “stable” outlook, and to affirm the “A-1+” short-term credit rating, the Financial Secretary, Mr Paul Chan, made the following comments:

Consumer Price Indices for August 2017
September 21, 2017 – The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the Consumer Price Index (CPI) figures for August 2017.

Appointment of Chairman of West Kowloon Cultural District Authority Board
September 18, 2017 – The Hong Kong Special Administrative Region Government announced today that the Chief Executive has appointed Mr Henry Tang Ying-yen to succeed the Chief Secretary for Administration as Chairman of the Board of the West Kowloon Cultural District Authority (WKCDA) for a period of two years with effect from October 1, 2017.

Treasury Markets Summit 2017 held in Hong Kong
September 18, 2017 – The Treasury Markets Summit 2017, jointly organized by the Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA), was held today in Hong Kong.

Unemployment rate remains at 3.1%
September 18, 2017 – According to the latest labor force statistics (i.e. provisional figures for June - August 2017) released today by the Census and Statistics Department of the Hong Kong Special Administrative Region Government, the seasonally adjusted unemployment rate stood at 3.1% in June - August 2017, same as that in May - July 2017. The underemployment rate also remained unchanged at 1.1% in the two periods. |

Government committed to promoting SMEs’ integration into global value chains
September 15, 2017 – The Hong Kong Special Administrative Region Government is committed to supporting small and medium enterprises (SMEs) by facilitating their access to markets and deeper integration into the global value chains (GVCs), the Under Secretary for Commerce and Economic Development, Dr Bernard Chan, said at the 24th Asia-Pacific Economic Cooperation (APEC) Small and Medium Enterprises Ministerial Meeting (SMEMM) in Ho Chi Minh City, Vietnam, today.

Innovation and Technology Venture Fund opens for application by venture capital funds incorporated in Hong Kong or overseas
September 15, 2017 – The Innovation and Technology Commission (ITC) of the Hong Kong Special Administrative Region Government today launched a US$256 million (HK$2 billion) Innovation and Technology Venture Fund (ITVF) to encourage venture capital (VC) funds' investment in local innovation and technology start-ups.

Legislative Council by-election to be held on March 11, 2018
September 14, 2017 – The Electoral Affairs Commission (EAC) announced today that a Legislative Council by-election is planned to be held on March 11 (Sunday) next year.

Second meeting of Joint Task Force on the Development of the Hong Kong-Shenzhen Innovation and Technology Park in the Loop
September 12, 2017 – Hong Kong Secretary for Innovation and Technology, Mr Nicholas W Yang, and the Vice Mayor of Shenzhen Municipality, Mr Ai Xuefeng, co-chaired the second meeting of the Joint Task Force on the Development of the Hong Kong-Shenzhen Innovation and Technology Park in the Loop in Hong Kong today.

IFFO on Belt and Road Financing Opportunities
September 11, 2017 – The Hong Kong Monetary Authority (HKMA) Infrastructure Financing Facilitation Office (IFFO) hosted a panel discussion today at the Belt and Road Summit today to promote Hong Kong’s unique advantages in capturing financing opportunities from the Belt and Road Initiative (BRI). The panel discussion was well received and attended by more than 1,000 overseas and local industry leaders from various sectors.

Belt and Road Summit attracts over 3,000 participants
September 11, 2017 – The Belt and Road Summit, co-organised by the HKSAR Government and the Hong Kong Trade Development Council, was held today, attracting more than 3,000 political leaders, policymakers, business leaders and experts in related trades from all over the world.

Hong Kong and ASEAN conclude Free Trade Agreement negotiations
September 9, 2017 – Hong Kong and the Association of Southeast Asian Nations (ASEAN) announced today the conclusion of the negotiations on a Free Trade Agreement (FTA) and a related Investment Agreement.

Hong Kong FinTech Week the perfect stage for global FinTech business
September 7, 2017 - Invest Hong Kong (InvestHK) today announced that Hong Kong’s regulators, along with a host of private sector partners, entrepreneurs and industry leaders, will participate in the second annual Hong Kong FinTech Week, to be held from October 23 to 27 at the Hong Kong Convention and Exhibition Centre in Wan Chai. The Week will focus on the driving forces that shape Hong Kong as a global financial technology (FinTech) hub.

Hong Kong’s foreign currency reserves at US$413.7 billion
September 7, 2017 - The Hong Kong Monetary Authority (HKMA) announced today that the official foreign currency reserve assets of Hong Kong amounted to US$413.7 billion as at the end of August 2017, compared to US$413.3 billion at end-July 2017.

Swiss Investment Bank Extends Its Reach to Hong Kong
September 5, 2017 - Swiss investment bank Vontobel announced today that it has been granted a full license by Hong Kong Exchanges and Clearing Limited to provide securities and derivatives trading on the Stock Exchange of Hong Kong as well as on the Futures Exchange of Hong Kong. At the same time Vontobel became a structured products issuer eligible for launching derivative warrants and callable bull and bear contracts (CBBC).


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