Hong Kong Economic and Trade Office, USA
Hong Kong

News Release - July 2020

Financial results for the three months ended June 30, 2020
July 31, 2020 - The Hong Kong Special Administrative Region Government announced today its financial results for the three months ended June 30, 2020.

Exchange Fund at US$537.8 billion
July 31, 2020 - The Hong Kong Monetary Authority announced today that the total assets of the Exchange Fund amounted to HK$4,195.3 billion (US$537.8 billion) as at June 30, 2020. This is HK$113.4 billion (US$14.5 billion) higher than that at the end of May 2020. Hong Kong dollar assets increased by HK$87.2 billion (US$11.1 billion) and foreign currency assets increased by HK$26.2 billion (US$3.3 billion).

LegCo General Election postponed for a year
July 31, 2020 - The Hong Kong Special Administrative Region (HKSAR) Government announced today that, amid the severe COVID-19 epidemic situation, the Chief Executive in Council has decided to postpone the 2020 Legislative Council (LegCo) General Election, originally scheduled for September 6, 2020, for a year to September 5, 2021, in order to protect public safety and public health as well as ensure elections are conducted openly and fairly.

Government further tightens social distancing measures
July 27, 2020 - The Hong Kong Special Administrative Region Government announced today that it would gazette amendments and directions under the Prevention and Control of Disease (Requirements and Directions) (Business and Premises) Regulation (Cap. 599F), the Prevention and Control of Disease (Prohibition on Group Gathering) Regulation (Cap. 599G) and the Prevention and Control of Disease (Wearing of Mask) Regulation (Cap. 599I) to further tighten social distancing measures. The above amendments and directions will take effect at 0.00am on July 29.

External merchandise trade statistics for June 2020
July 27, 2020 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the external merchandise trade statistics for June 2020. In June 2020, the values of Hong Kong’s total exports and imports of goods both recorded year-on-year decreases, at 1.3% and 7.1% respectively.

Government supplements on quarantine exemption arrangement
July 26, 2020 - In response to media enquiries arising from the Government's announcement on tightening of testing and quarantine arrangement for exempted persons, a Government spokesman today provided the following supplementary information.

Government announces tightening of testing and quarantine arrangement for exempted persons
July 26, 2020 - The Hong Kong Special Administrative Region Government today announced that crew change arrangement for passenger vessels and goods vessels without cargo operation in Hong Kong would be suspended with effect from July 29 (Wednesday). The testing and quarantine arrangement for sea crew members of goods vessels coming to Hong Kong for cargo operation, air crew members and other persons exempted from quarantine requirement (exempted persons) arriving Hong Kong will also be tightened.

SCED participates in APEC Virtual Ministers Responsible for Trade Meeting
July 25, 2020 - Hong Kong’s Secretary for Commerce and Economic Development, Mr Edward Yau, participated in the first-ever Virtual Ministers Responsible for Trade (VMRT) Meeting of Asia-Pacific Economic Cooperation (APEC) 2020 today.

Exchange Fund Position at end-June 2020
July 24, 2020 - The Hong Kong Monetary Authority (HKMA) today published the unaudited financial position of the Exchange Fund at end-June 2020.

Latest legislative amendments and specifications under Prevention and Control of Disease Ordinance gazetted
July 22, 2020 - In view of the epidemic situation of COVID-19 in Hong Kong, the Hong Kong Special Administrative Region Government today gazetted the latest legislative amendments and specifications under the Prevention and Control of Disease Ordinance (Cap. 599) to implement measures to further strengthen epidemic control efforts.

Consumer Price Indices for June 2020
July 21, 2020 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the Consumer Price Index (CPI) figures for June 2020.

SCED congratulates film director Ann Hui on Golden Lion for Lifetime Achievement at Venice International Film Festival
July 21, 2020 - Hong Kong’s Secretary for Commerce and Economic Development, Mr Edward Yau, today congratulated renowned Hong Kong film director Ann Hui for receiving the Golden Lion for Lifetime Achievement award at the 77th Venice International Film Festival. She is the first Chinese female film director to be bestowed the honor.

Government extends social distancing measures
July 20, 2020 - The Hong Kong Special Administrative Region Government gazetted today the directions under the Prevention and Control of Disease (Requirements and Directions) (Business and Premises) Regulation (Cap. 599F) to extend existing social distancing measures. The above directions will take effect at 0.00am on July 22, 2020 for a period of seven days till July 28, 2020.

Unemployment rate rises to 6.2%
July 20, 2020 - According to the latest labor force statistics (i.e. provisional figures for April - June 2020) released today by the Census and Statistics Department of the Hong Kong Special Administrative Region Government, the seasonally adjusted unemployment rate increased from 5.9% in March - May 2020 to 6.2% in April - June 2020. The underemployment rate also increased from 3.5% in March - May 2020 to 3.7% in April - June 2020.

Government clarifies on necessity of quarantine exemption arrangement
July 19, 2020 - With regard to criticisms that the quarantine exemption arrangement has brought about loopholes in the quarantine regime and that the latest wave of epidemic was attributable to the prevailing quarantine exemption arrangement, a Government spokesman emphasized today that this is a misunderstanding.

Specifications under the Prevention and Control of Disease (Regulation of Cross-boundary Conveyances and Travelers) Regulation gazetted
July 18, 2020 - In view of the development and severity of the COVID-19 epidemic situation in Hong Kong, the Hong Kong Special Administrative Region Government announced today that it had gazetted the specifications under the Prevention and Control of Disease (Regulation of Cross-boundary Conveyances and Travellers) Regulation (Cap. 599H) to impose conditions based on public health grounds on travelers who has visited specified high risk places within 14 days before arrival in Hong Kong, in order to further reduce the number of imported cases.

HKSAR Government welcomes Ministry of Finance’s issuance of sovereign bonds in Hong Kong
July 17, 2020 - The Ministry of Finance announced today its plan to issue Renminbi (RMB) sovereign bonds totaling RMB15 billion outside the Mainland this year, of which RMB5 billion will be issued in Hong Kong next week. Details will be announced later.

Government welcomes passage of Insurance (Amendment) (No. 2) Bill 2020
July 17, 2020 - Hong Kong’s Secretary for Financial Services and the Treasury, Mr Christopher Hui, welcomed the passage of the Insurance (Amendment) (No. 2) Bill 2020 by the Legislative Council today.

Cash Payout Scheme has disbursed payment to over 5.3 million people
July 17, 2020 - The Hong Kong Special Administrative Region Government has announced that as of today, the Cash Payout Scheme has disbursed payment or issued notifications of cheque collection to over 5.3 million eligible people. In addition, according to the batching arrangement for paper registrations, eligible people of the last batch (i.e. persons born in 1971 to 2002) may start registrations on Sunday (July 19).

Volume and price statistics of external merchandise trade in May 2020
July 16, 2020 - Further to the external merchandise trade statistics in value terms for May 2020 released earlier on, the Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the volume and price statistics of external merchandise trade for that month.

Hong Kong SAR Government firmly opposes the Hong Kong Autonomy Act becoming US law
July 15, 2020 - The Hong Kong Special Administrative Region (HKSAR) Government issued a statement today, expressing its strong opposition to the United States (US) signing into law the so-called “Hong Kong Autonomy Act” (the Act) passed by the US Congress. The HKSAR Government strongly objected to and deplored the series of measures to be adopted by the US under the President's executive order. As mentioned in the statement of the Ministry of Foreign Affairs of our country, the move of the US seriously violates international law and the basic norms underpinning international relations, and constitutes gross interference in Hong Kong affairs and China's internal affairs, which is deeply regretted. The HKSAR Government will fully support the Central Government to adopt counter-measures and will not allow the US hegemony to succeed.

Government welcomes passage of Inland Revenue (Amendment) (Profits Tax Concessions for Insurance-related Businesses) Bill 2019
July 15, 2020 - Hong Kong’s Secretary for Financial Services and the Treasury, Mr Christopher Hui, welcomed the passage of the Inland Revenue (Amendment) (Profits Tax Concessions for Insurance-related Businesses) Bill 2019 by the Legislative Council today (July 15).

Government to postpone launch of Convention and Exhibition Industry Subsidy Scheme
July 14, 2020 - In light of the postponement of various convention and exhibition (C&E) activities originally scheduled for mid- and late July and August in Hong Kong, the Hong Kong Special Administrative Region Government announced today that the launch of the Convention and Exhibition Industry Subsidy Scheme under the Anti-epidemic Fund will be postponed. The Government will closely monitor the latest situation and announce the new launch date in due course, with a view to starting the 12-month scheme at an opportune time for holding major C&E events so as to benefit more enterprises and help them explore markets and opportunities.

Government designates observers to Board of Cathay Pacific Airways Limited
July 14, 2020 - The Hong Kong Special Administrative Region Government announced today that, in accordance with the relevant agreement on the Government’s investment in Cathay Pacific Airways Limited (Cathay Group), Mr Carlson Tong and Mr Rimsky Yuen, SC, have been designated as the observers of the Board of the Cathay Group with immediate effect.

Cash Payout Scheme to advance payment to registrants using paper forms to tomorrow
July 14, 2020 - The Hong Kong Special Administrative Region Government announced today that according to the batching arrangement for registration by paper form under the Cash Payout Scheme, the first batch of eligible registrants (i.e. people born in 1955 or before) will receive the payment or notifications for cheque collection starting from July 15, i.e. five days earlier than the original scheduled date of July 20. If registrants of this age group submit registration forms on or after July 5, they will receive payment or notifications for cheque collection about two weeks after registration.

Government further tightens social distancing measures
July 13, 2020 - The Hong Kong Special Administrative Region Government gazetted today amendments and directions under the Prevention and Control of Disease (Requirements and Directions) (Business and Premises) Regulation (Cap. 599F) and the Prevention and Control of Disease (Prohibition on Group Gathering) Regulation (Cap. 599G) to further tighten social distancing measures. The above amendments and directions will take effect at 0.00am on July 15, 2020.

Government launches measures to energize Hong Kong films
July 13, 2020 - The Commerce and Economic Development Bureau announced today that the Hong Kong Special Administrative Region Government will earmark around HK$260 million (US$33.3 million) under the Film Development Fund (FDF) to implement five major measures to increase the number of local film productions, nurture young directors and scriptwriting talents and enhance professional training, with a view to adding value to the trade, helping the trade tide over this difficult period and re-energizing Hong Kong’s film industry.

Government welcomes passage of Limited Partnership Fund Bill
July 9, 2020 - Hong Kong’s Secretary for Financial Services and the Treasury, Mr Christopher Hui, welcomed the passage of the Limited Partnership Fund Bill by the Legislative Council today.

Government tightens social distancing measures
July 9, 2020 - The Hong Kong Special Administrative Region Government will gazette today directions under the Prevention and Control of Disease (Requirements and Directions) (Business and Premises) Regulation (Cap. 599F) to tighten social distancing measures.

Government to launch Convention and Exhibition Industry Subsidy Scheme
July 8, 2020 - To reinvigorate the convention and exhibition (C&E) industry, the Hong Kong Special Administrative Region Government established the Convention and Exhibition Industry Subsidy Scheme under the Anti-epidemic Fund with a commitment of HK$1,020 million (US$130 million) to subsidize participants and organizers of C&E activities. In light of the gradual resumption of many C&E activities in mid- and late July, the Government will launch the Subsidy Scheme.

HKSAR Government firmly rejects remarks by US Consul General
July 6, 2020 - In response to media enquiries, a spokesman of the Hong Kong Special Administrative Region (HKSAR) Government today firmly rejected recent public remarks made by the Consul General of the United States of America (US) to Hong Kong and Macau on the Law of the People’s Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region (the National Security Law) enacted by the Standing Committee of the National People's Congress (NPCSC).

Cash Payout Scheme disburses payment to 3.15 million people
July 6, 2020 - A Hong Kong Special Administrative Region Government spokesman said the Cash Payout Scheme today started effecting payment in batches to eligible people who have registered electronically through banks on or before June 30.

HKSARG strongly opposes passage of the Hong Kong Autonomy Act by US Congress
July 3, 2020 - The Hong Kong Special Administrative Region (HKSAR) Government today expressed strong opposition to the passage of the “Hong Kong Autonomy Act” (The Act) by the United States (US) Congress. 

Statement by Chief Justice of Court of Final Appeal
July 2, 2020 - On June 30, 2020, the Law of the People’s Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region (“National Security Law”) was passed to take effect in Hong Kong.

Government launches FinTech Anti-epidemic Scheme for Talent Development
July 1, 2020 - The Financial Services and the Treasury Bureau (FSTB) of the Hong Kong Special Administrative Region Government today announced that the FinTech Anti-epidemic Scheme for Talent Development (FAST Scheme) under the second round of the Anti-epidemic Fund will be launched and open for application on July 2 to support the development of financial technology (fintech) in Hong Kong.

Government launches Research Talent Hub to provide more flexibility in engaging research talents Development
July 1, 2020 - The Innovation and Technology Commission today announced that the Researcher Programme (RP) and the Postdoctoral Hub (PH) have been merged to become the Research Talent Hub. Eligible companies and organizations are welcome to apply for the scheme.



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