Hong Kong Economic and Trade Office, USA
Hong Kong

News Release - January 2019

Financial results for the nine months ended December 31, 2018
January 31, 2019 - The Hong Kong Special Administrative Region Government announced today its financial results for the nine months ended December 31, 2018.

Hong Kong Exchange Fund at US$520.4 billion
January 31, 2019 - The Hong Kong Monetary Authority (HKMA) announced today that the total assets of the Exchange Fund amounted to HK$4,059.4 billion (US$520.4 billion) as at December 31, 2018. This is HK$74.6 billion (US$9.5 billion) higher than that at the end of November 2018. Foreign currency assets decreased by HK$29.2 billion (US$3.7 billion) while Hong Kong dollar assets increased by HK$103.8 billion (US$13.3 billion).

Exchange Fund Position at end-December 2018
January 29, 2019 - The Hong Kong Monetary Authority (HKMA) today published the unaudited financial position of the Exchange Fund at end-December 2018.

StartmeupHK Festival informs, entertains and spotlights Hong Kong as perfect location for innovative start-ups
January 29, 2019 - Hong Kong’s annual StartmeupHK Festival, organized by Invest Hong Kong (InvestHK), ended last Friday (January 25) with the venue packed right to the last minute after a week of events loaded with surprises, insights and thoroughly entertaining speakers. Guests throughout the festival had shared wisdom and discussed their experience in entrepreneurship, funding, creativity, communication, growing a business, and more, along with the pain, the setbacks and the struggle for success.

Overall law and order situation remained stable in 2018
January 29, 2019 - The overall law and order situation of Hong Kong continued to improve in 2018, according to the Commissioner of Police, Mr Lo Wai-chung.

SCED urges WTO members to preserve a well-functioning WTO
January 25, 2019 - Hong Kong Secretary for Commerce and Economic Development, Mr Edward Yau, urged members of the World Trade Organization (WTO) to preserve a well-functioning WTO by lifting the blockage to the Appellate Body appointment at the WTO Informal Ministerial Gathering in Davos, Switzerland, today (January 25, Davos time).

IMF commends Hong Kong’s strong buffers and prudent policy frameworks for ensuring continued stability
January 25, 2019 - The International Monetary Fund (IMF) released a Staff Report today which, substantiated by more detailed analysis, reinforces the conclusions of its assessment of Hong Kong's economic and financial positions published on December 12, 2018.

Hong Kong Ranked World’s Freest Economy for 25th Consecutive Year
January 25, 2019 - Hong Kong ranks as the world’s freest economy in the Heritage Foundation’s 2019 Index of Economic Freedom. Hong Kong has been ranked the world’s freest economy since the index was first published in 1995.

Consumer Price Indices for December 2018
January 22, 2019 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the Consumer Price Index (CPI) figures for December 2018.

Hong Kong - Georgia Free Trade Agreement to enter into force on February 13
January 22, 2019 - The Hong Kong, China - Georgia Free Trade Agreement will enter into force on February 13, giving Hong Kong exporters and service providers the legal certainty of favorable treatment and market access to Georgia.

Invest Hong Kong assists record number of overseas and Mainland companies to set up or expand in Hong Kong
January 21, 2019 - Invest Hong Kong (InvestHK) announced that the Department had assisted 436 overseas and Mainland companies to set up or expand in Hong Kong in 2018.

Business expectations for first quarter of 2019
January 18, 2019 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the results of the Quarterly Business Tendency Survey for the first quarter (Q1) of 2019.

Hong Kong and Mainland sign arrangement on reciprocal recognition and enforcement of judgments in civil and commercial matters
January 18, 2019 - Hong Kong Secretary for Justice, Ms Teresa Cheng, SC, and the Vice-president of the Supreme People’s Court, Mr Yang Wanming, signed an arrangement on reciprocal recognition and enforcement of judgments (REJ) in civil and commercial matters in Beijing today.

Extension of single e-lock clearance point network facilitates use of Hong Kong-Zhuhai-Macao Bridge
January 17, 2019 - The Customs and Excise Department (C&ED) of the Hong Kong Special Administrative Region Government (HKSARG) announced today that the number of clearance points under the Single E-lock Scheme (the Scheme) in Guangdong Province increased from 32 last year to 51 this month, including the first customs clearance point set up in Zhuhai. The Scheme enhances cargo clearance efficiency and also benefits cargo shipments that are transhipped through Hong Kong using the Hong Kong-Zhuhai-Macao Bridge (HZMB).

Unemployment rate remains at 2.8%
January 17, 2019 - According to the latest labor force statistics (i.e. provisional figures for October - December 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 October - December 2018, same as that in September - November 2018. The underemployment rate decreased from 1.2% in September - November 2018 to 1.1% in October - December 2018.

Asian Financial Forum promotes sustainable growth and inclusive future
January 14, 2019 - The 12th Asian Financial Forum (AFF), co-organized by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council, opened today, gathering over 3,300 influential financial and business leaders as well as global policymakers and financial regulators from over 40 countries and regions to share their insights on the role of the financial services sector in shaping a sustainable and inclusive future.

Five-day statutory paternity leave to take effect on January 18
January 11, 2019 - The Employment (Amendment) (No. 3) Ordinance 2018 (Amendment Ordinance) will commence on January 18, 2019.

InvestHK unveils StartmeupHK Festival 2019 agenda and partners
January 8, 2019 - Invest Hong Kong (InvestHK) today announced details of its five-day StartmeupHK Festival 2019 that will run from January 21 to 25, each day focusing on specific start-up themes with the common thread being an emphasis on new trends, fresh thinking and cutting-edge innovation.

Hong Kong’s foreign currency reserves at US$424.6 billion
January 7, 2019 - The Hong Kong Monetary Authority (HKMA) announced today that the official foreign currency reserve assets of Hong Kong amounted to US$424.6 billion as at the end of December 2018, compared with US$423.2 billion at end-November 2018.

Vessels required to use compliant fuel within Hong Kong waters from today
January 1, 2019 - The Air Pollution Control (Fuel for Vessels) Regulation (Cap. 311AB) (the Regulation) came into effect today. 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.


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