Hong Kong Economic and Trade Office, USA
Hong Kong

News Release - October 2018

Launch of eTradeConnect and collaboration with we.trade
October 31, 2018 - The Hong Kong Monetary Authority (HKMA) announced today the official launch of eTradeConnect, a blockchain-based trade finance platform developed by a consortium of twelve major banks in Hong Kong. Formerly known as the Hong Kong Trade Finance Platform, eTradeConnect aims to improve trade efficiency, build better trust among trade participants, reduce risks and facilitate trade counterparties to obtain financing by digitizing trade documents, automating trade finance processes and leveraging the features of blockchain technology.

Hong Kong ranked world's fourth easiest place to do business
October 31, 2018 - Hong Kong is ranked fourth globally on the ease of doing business, moving up one place from being fifth last year, according to the World Bank's Doing Business 2019 Report (Report) released today.

Hong Kong Exchange Fund at US$517 billion
October 31, 2018 - The Hong Kong Monetary Authority announced today that the total assets of the Exchange Fund amounted to HK$4,032.6 billion (US$517.0 billion) as at September 30, 2018. This is HK$38.9 billion (US$4.98 billion) higher than that at the end of August 2018. Foreign currency assets increased by HK$19.5 billion (US$2.5 billion) and Hong Kong dollar assets increased by HK$19.4 billion (US$2.48 billion).

Financial results for the six months ended September 30, 2018
October 31, 2018 - The Hong Kong Special Administrative Region Government announced today its financial results for the six months ended September 30, 2018.

Government highly concerned about Cathay Pacific Airways data leakage incident
October 26, 2018 - In response to media enquiries on the Cathay Pacific Airways data leakage incident, a spokesperson for the Constitutional and Mainland Affairs Bureau said today that the Hong Kong Special Administrative Region (HKSAR) Government is highly concerned about the incident. The Office of the Privacy Commissioner for Personal Data (PCPD) immediately initiated a compliance check and asked Cathay Pacific Airways to take prompt remedial measures.

Vessels must use compliant fuel within Hong Kong waters from January 1, 2019
October 26, 2018 - A spokesman for the Environmental Protection Department (EPD) said today that the Legislative Council has approved the Air Pollution Control (Fuel for Vessels) Regulation (the Regulation) (Cap 311AB). From January 1, 2019, all vessels except for specified vessel types as set out in the Regulation, are required to use compliant fuel within Hong Kong waters, irrespective of whether they are sailing or berthing.

Fourth Plenary Session of the Hong Kong/Beijing Co-operation Conference held in Beijing
October 24, 2018 - Hong Kong Chief Executive, Mrs Carrie Lam, and the Mayor of Beijing, Mr Chen Jining, each joined by their respective delegation, convened the Fourth Plenary Session of the Hong Kong/Beijing Co-operation Conference in Beijing today (October 24).

Consumer Price Indices for September 2018
October 23, 2018 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the Consumer Price Index (CPI) figures for September 2018.

Hong Kong Government and AIIB sign Special Fund Contribution Agreement
October 22, 2018 - The Acting Chief Executive, Mr Paul Chan, and the President of the Asian Infrastructure Investment Bank (AIIB), Mr Jin Liqun, witnessed today the signing of the AIIB Project Preparation Special Fund Contribution Agreement between the Hong Kong Special Administrative Region Government and the AIIB.

Unemployment rate stays at 2.8%
October 19, 2018 - According to the latest labor force statistics (i.e. provisional figures for July - September 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 July - September 2018, same as that in June - August 2018. The underemployment rate increased from 1.1% in June - August 2018 to 1.2% in July - September 2018.

Chief Executive hosts Nobel Prize Winner and local scholars
October 15, 2018 - Hong Kong Chief Executive, Mrs Carrie Lam, hosted a luncheon for the winner of the Nobel Prize in Physiology or Medicine, Professor James Watson, at Government House in the afternoon today, during which she introduced him to Hong Kong’s exceptional environment for Innovation & Technology (I&T) and the measures she proposed in the Policy Address aiming to support the I&T development in Hong Kong.

Japan Salonaise Association opens bakery training school in Hong Kong
October 15, 2018 - The Japan Salonaise Association just officially opened its bakery training school in Hong Kong, offering hobbyists the professional skills they need to develop their careers in the Japanese bakery business in the city.

Chief Executive congratulates achievements of Hong Kong athletes in Asian Para Games
October 14, 2018 - Hong Kong Chief Executive, Mrs Carrie Lam, today extended her congratulations to Hong Kong athletes on achieving the best ever results in the Indonesia 2018 Asian Para Games, noting that their distinguished performance and sportsmanship are most encouraging.

Record breaking results for Hong Kong at the 18th APICTA Awards
October 13, 2018 - Hong Kong saw a record breaking result today at the 18th Asia Pacific Information and Communications Technology Alliance (APICTA) Awards, sweeping 6 Winner and 13 Merit awards. It is the biggest number of awards Hong Kong won in the competition. The APICTA Awards, held from October 10 to 13 in Guangzhou this year, is often dubbed as the Oscars of the ICT arena in the Asia Pacific region.

Chief Executive Delivers 2018 Policy Address
October 10, 2018 - Hong Kong’s economy in the first half of the year grew by 4 percent in real terms compared to the previous year, riding on the broadly positive global economic environment.

Hong Kong’s foreign currency reserves at US$426.4 billion
October 5, 2018 - The Hong Kong Monetary Authority announced today that the official foreign currency reserve assets of Hong Kong amounted to US$426.4 billion as at the end of September 2018, compared with US$424.8 billion at end-August 2018.

Hong Kong welcomes EU amendment to watchlist on tax co-operation
October 4, 2018 - The Hong Kong Special Administrative Region Government today welcomed the amendment made by the European Union (EU) on October 2 to its watchlist on tax co-operation in recognition of Hong Kong's latest efforts in participating in the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention). 

Hong Kong Observatory signs MoU with World Meteorological Organization to strengthen meteorological co-operation
October 2, 2018 - The Director of the Hong Kong Observatory (HKO), Mr Shun Chi-ming, today signed a Memorandum of Understanding (MoU) on behalf of the HKO with the Secretary General of the World Meteorological Organization (WMO), Professor Petteri Taalas, to further strengthen meteorological co-operation.


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