Hong Kong Economic and Trade Office, USA
Hong Kong

News Release - July 2018

Hong Kong Exchange Fund at US$525.7 billion
July 31, 2018 - The Hong Kong Monetary Authority (HKMA) announced today that the total assets of the Exchange Fund amounted to HK$4,100.7 billion (US$525.7 billion) as at June 30, 2018. This is HK$45.4 billion (US$5.8 billion) higher than that at the end of May 2018. Foreign currency assets increased by HK$62.5 billion (US$8 billion) while Hong Kong dollar assets decreased by HK$17.1 billion (US$2.1 billion).

Financial results for the three months ended June 30, 2018
July 31, 2018 - The Hong Kong Special Administrative Region Government announced today its financial results for the three months ended June 30, 2018.

Financial position of Hong Kong Exchange Fund in first half of 2018
July 27, 2018 - The Hong Kong Monetary Authority (HKMA) today (July 27) published the unaudited financial position of the Exchange Fund at end-June 2018.

Director of Hong Kong Observatory presides over 16th session of Commission of Aeronautical Meterology of World Meteorological Organization
July 27, 2018 - The Director of the Hong Kong Observatory (HKO), Mr Shun Chi-ming, in his capacity as the President of the Commission for Aeronautical Meteorology (CAeM) of the World Meteorological Organization (WMO), presided over the 16th session of the CAeM held from July 24 to 27 (Exeter time), and the Technical Conference held on July 23, in Exeter, the United Kingdom.

13 young talents awarded Hong Kong Jockey Club Music and Dance Fund Scholarships
July 26, 2018 - The Hong Kong Jockey Club Music and Dance Fund held a ceremony today to award scholarships, totaling HK$4.14 million (US$530,769), to 13 young talents to support them to pursue studies in music or dance in Hong Kong, the US, the UK, the Netherlands and Belgium. In particular, the Fund was delighted to award a scholarship to the youngest awardee in the history of the Fund, Miss Hannah Tam, aged 13, who will pursue her diploma studies in violin in the US.

Hong Kong Museum of Art receives over 350 Chinese painting and calligraphy artworks from Chih Lo Lou
July 19, 2018 - The Hong Kong Museum of Art today announced that Chih Lo Lou Art Promotion (Non-profit Making) Ltd has generously donated its private collection of 355 Chinese painting and calligraphy artworks to the museum for its permanent collection. Of the donated works, the most outstanding pieces comprise Chinese painting and calligraphy artworks from the late Ming and early Qing dynasties, rare treasures well known among the international art and museum community.

Rugby World Cup Sevens 2018 kicks off with Nations Welcome Ceremony presented by HKETO, San Francisco
July 19, 2018 - (Thousands) of people attended the Nations Welcome Ceremony hosted by the Rugby World Cup Sevens 2018 today (July 19, San Francisco time) at the Embarcadero Center in San Francisco, the United States, to kick off the tournament weekend. The ceremony was presented by the Hong Kong Economic and Trade Office, San Francisco.

Unemployment Remains at 2.8%
July 19, 2018 - According to the latest labor force statistics (i.e. provisional figures for April - June 2018) released today by the Census and Statistics Department of the Hong Kong Special Administrative Region Government, the seasonally adjusted unemployment rate stood at 2.8% in April - June 2018, same as that in March - May 2018. The underemployment rate also remained unchanged at 1.0% in the two periods.

Academy of Finance to be set up in Hong Kong
July 17, 2018 - Following the Financial Secretary’s announcement in his Budget Speech in February, the Hong Kong Monetary Authority (HKMA), on the basis of the advice of an Experts Group comprising Mr Anthony Neoh, Mr Carlson Tong, Mr Moses Cheng and Mr David Eldon, has submitted a recommendation to the Financial Secretary to proceed with the setting up of an Academy of Finance (AoF) in Hong Kong. The Experts Group, which was commissioned by the HKMA in October 2017, completed its study and presented its findings and recommendations to the HKMA in late June.

Secretary for Justice in New York promotes Hong Kong as dispute resolution hub
July 16, 2018 - Hong Kong Secretary for Justice, Ms Teresa Cheng, SC, concluded her visit to Washington, DC, the United States (US) and started her visit to New York today.

Hong Kong Secretary for Justice Visits Washington, D.C.
July 14, 2018 - The Secretary for Justice, Teresa Cheng, SC, began a visit to Washington, D.C. on July 11 to promote Hong Kong’s legal and dispute resolution services and share details of Hong Kong’s latest developments with key players from various sectors, including Jeff Sessions, Attorney General of the United States.

Secretary for Justice to visit Washington, DC and New York
July 6, 2018 - Hong Kong Secretary for Justice, Ms Teresa Cheng, SC, will visit Washington, DC, and New York, the United States (US), from July 11 to July 17 to promote Hong Kong as an international legal and dispute resolution services center in the Asia-Pacific region and update leading figures in various sectors on Hong Kong’s latest developments.

Hong Kong’s foreign currency reserves at US$431.9 billion
July 6, 2018 - The Hong Kong Monetary Authority announced today that the official foreign currency reserve assets of Hong Kong amounted to US$431.9 billion as at the end of June 2018, compared with US$432.2 billion at end-May 2018.

Hong Kong actress wins coveted international Rising Star Award
July 6, 2018 - Hong Kong actress, Stephy Tang, whose leading role in “The Empty Hands” (2017) was deemed to be her “career-best performance” as described by the reputable entertainment magazine Hollywood Reporter, has added the “Screen International Rising Star Award” to her accolades in the New York Asian Film Festival (NYAFF). She is the first Hong Kong actress to receive the coveted award.

TransferWise brings innovative international money transfer platform to Hong Kong
July 6, 2018 - Leading London-based fintech company TransferWise announced today the official launch of its international money transfer platform in Hong Kong, giving it a major foothold in Asia as part of the company's ongoing international expansion.

Government respects Court of Final Appeal’s judgment concerning dependent immigration policy
July 4, 2018 - Today, the Court of Final Appeal (CFA) handed down a judgment in QT v Director of Immigration (FACV No. 1 of 2018), a judicial review lodged by the applicant QT against the Director of Immigration's decision of refusing her application for entry for residence in Hong Kong as a dependent of her same-sex partner on the grounds that she is not a "spouse" under the prevailing dependent immigration policy. The CFA dismissed the appeal lodged by the Director and held that the Director has failed to justify the differential treatment of refusing QT a dependent visa under the prevailing dependent immigration policy.


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