Hong Kong Economic and Trade Office, USA
Hong Kong

News Release - May 2018

Hong Kong Ranked World's Second Most Competitive Economy
May 24, 2018 - Hong Kong ranked second globally in the International Institute for Management Development's (IMD) World Competitiveness Yearbook (WCY) 2018.

Consumer Price Indices for April 2018
May 21, 2018 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the Consumer Price Index (CPI) figures for April 2018. According to the Composite CPI, overall consumer prices rose by 1.9% in April 2018 over the same month a year earlier, smaller than the corresponding increase (2.6%) in March 2018. Netting out the effects of all Government’s one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in April 2018 was 2.2%. This increase was smaller than that in March 2018 (2.6%), mainly due to the smaller increases in the charges for package tours and the prices of fresh vegetables.

Global market research company establishes foothold in Hong Kong
May 17, 2018 - Global market research company Euromonitor International officially opened its Hong Kong office today with the aim of capturing new business opportunities, including those arising from the Belt and Road Initiative.

US law firm expands in Asia-Pacific region via Hong Kong
May 17, 2018 - US law firm Seyfarth Shaw LLP officially launched its regional office in Hong Kong today, tapping into the growing demand for cross-border legal services by multinational companies in Hong Kong as well as in the Asia-Pacific region.

Rising Hong Kong star honoured at Chicago film festival
May 16, 2018 - The US premiere of the award-winning movie “Tomorrow Is Another Day” has been held in Chicago, helping another successful film funded by the Hong Kong Film Development Fund to gain prominence on the world stage.

New Hong Kong Commissioner for Economic and Trade Affairs, USA, Appointed
May 15, 2018 - The Hong Kong Special Administrative Region Government announced today that Eddie Mak Tak-wai, Deputy Secretary for the Civil Service, will take up the post of Hong Kong Commissioner for Economic and Trade Affairs, USA, on July 3, 2018.

Hong Kong Commissioner to US commends Hong Kong Volvo Ocean Race team at warm welcome in Newport, US
May 13, 2018 - Hong Kong Commissioner for Economic and Trade Affairs, USA, Mr Clement Leung, today (May 13, Newport, Rhode Island time) commended skipper David Witt and the members of Team Sun Hung Kai/Scallywag for continuing the Volvo Ocean Race in honor and memory of their late teammate and friend John Fisher. The team is the first from Hong Kong to enter in the world's premier offshore race.

First quarter GDP grows 4.7%
May 11, 2018 – Hong Kong’s economy grew 4.7% in the first quarter of 2018, its best quarterly growth rate since 2011. Strong demand for exports, and high levels of local consumption, coupled with favorable labor market conditions buoyed overall economic health.

Hong Kong’s foreign currency reserves at US$434.4 billion
May 7, 2018 - The Hong Kong Monetary Authority announced today that the official foreign currency reserve assets of Hong Kong amounted to US$434.4 billion as at the end of April 2018, compared with US$440.3 billion at the end-March 2018.

Chief Executive approves chairmanship of HKEX
May 7, 2018 - Hong Kong Chief Executive approved, on May 4, Mrs Laura Cha Shih May-lung’s appointment as Chairman of the Hong Kong Exchanges and Clearing Limited (HKEX) with immediate effect.


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