Hong Kong Economic and Trade Office, USA
Hong Kong

News Release - July 2021

Financial results for the three months ended June 30, 2021
July 30, 2021 - The Hong Kong Special Administrative Region Government announced today its financial results for the three months ended June 30, 2021.

Government announces list of fifth-cycle designated quarantine hotels and additional hotel under fourth cycle
July 30, 2021 - The Hong Kong Special Administrative Region Government announced today the list of designated quarantine hotels for the fifth cycle of the Designated Quarantine Hotel (DQH) Scheme. A total of 37 hotels will provide about 10,000 rooms in the new cycle, which runs from September 1 to November 30. The Government may adjust the number of rooms available in this cycle as and where necessary.

Exchange Fund at US$585.4 billion
July 30, 2021 - The Hong Kong Monetary Authority (announced today that the total assets of the Exchange Fund amounted to HK$4,566.6 billion (US$585.4 billion) as at June 30, 2021. This is HK$19.3 billion (US$2.4 billion) higher than that at the end of May 2021. Foreign currency assets increased by HK$20.5 billion (US$2.6 billion) while Hong Kong dollar assets decreased by HK$1.2 billion (US$153 million).

Chief Executive congratulates Siobhan Bernadette Haughey on winning another Tokyo Olympics medal for Hong Kong
July 30, 2021 - The Hong Kong, China Delegation to the Tokyo 2020 Olympic Games today (July 30) brought good news again to the territory. The Chief Executive, Mrs Carrie Lam, extended her heartfelt congratulations to Siobhan Bernadette Haughey on winning a silver medal in the Women's 100m Freestyle for Hong Kong.

Advance estimates on Gross Domestic Product for second quarter of 2021
July 30, 2021 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the advance estimates on Gross Domestic Product (GDP) for the second quarter of 2021.

Hong Kong Museum of Art receives another donation of Chinese painting and calligraphy artworks from Chih Lo Lou
July 28, 2021 - The Hong Kong Museum of Art (HKMoA) today announced that the Chih Lo Lou Art Promotion (Non-Profit Making) has generously donated eight more masterpieces of invaluable Chinese paintings and calligraphy to it from its private collection. An exhibition entitled “Works of the Second Donation of the Chih Lo Lou Collection of Chinese Painting and Calligraphy” will be held from Friday (July 30) at the HKMoA to showcase the newly donated artworks for public appreciation.

Robotics Technologies Innovation Competition promotes Smart Government development
July 28, 2021 - Hong Kong’s Secretary for Innovation and Technology, Mr Alfred Sit, commended departments for their innovation and courage to break new ground at the Leading Towards Robotics Technologies Innovation Competition Award Presentation Ceremony organized by the Office of the Government Chief Information Officer (OGCIO) today. He added that new ideas and impetus injected into public services can benefit members of the public and promote the development of Smart Government.

Secretary for Home Affairs congratulates Siobhan Bernadette Haughey on winning Olympic silver medal
July 28, 2021 - Hong Kong’s Secretary for Home Affairs, Mr Caspar Tsui, today congratulated Hong Kong swimming athlete Siobhan Bernadette Haughey on winning the Tokyo 2020 Olympic Games silver medal in the Women’s 200m Freestyle competition for Hong Kong.

Chief Executive congratulates Siobhan Bernadette Haughey on winning Tokyo Olympics medal for Hong Kong
July 28, 2021 - The Hong Kong, China Delegation to the Tokyo 2020 Olympic Games today (July 28) brought good news to the territory again. After fencer Cheung Ka-long won a gold medal for Hong Kong earlier, Hong Kong swimming athlete Siobhan Bernadette Haughey today won the silver medal in the Women's 200m Freestyle for Hong Kong. It is the first medal in a swimming event at the Olympic Games in Hong Kong's history and the second Olympic silver medal after the one awarded at the 2004 Olympic Games in Athens. The Chief Executive, Mrs Carrie Lam, extended her warmest congratulations to Haughey.

Exchange Fund Position at end-June 2021
July 27, 2021 - The Hong Kong Monetary Authority (HKMA) today (July 27) published the unaudited financial position of the Exchange Fund at end-June 2021.

Chief Executive congratulates Cheung Ka-long on winning the first medal at Tokyo Olympics for Hong Kong
July 26, 2021 - Hong Kong fencer Cheung Ka-long today won the gold medal in the Men’s Foil Individual competition of the Tokyo 2020 Olympic Games for Hong Kong. It is Hong Kong athletes’ first medal at this Olympic Games, the first fencing medal in the Olympic Games in Hong Kong’s history as well as the first Olympic gold medal after the establishment of the Hong Kong Special Administrative Region and the city’s second gold medal after the one at the 1996 Atlanta Olympic Games. The Chief Executive, Mrs Carrie Lam, expressed her heartfelt congratulations to Cheung Ka-long and his coach.

Secretary for Home Affairs congratulates Cheung Ka-long on claiming Olympic gold medal
July 26, 2021 - Hong Kong’s Secretary for Home Affairs, Mr Caspar Tsui, today congratulated Hong Kong fencer Cheung Ka-long on winning the first and historical gold medal in the Men's Foil Individual competition of the Tokyo 2020 Olympic Games for Hong Kong.

External merchandise trade statistics for June 2021
July 26, 2021 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the external merchandise trade statistics for June 2021. In June 2021, the values of Hong Kong’s total exports and imports of goods both recorded year-on-year increases, at 33.0% and 31.9% respectively

Hong Kong students triumph at international physics and mathematical tournaments
July 25, 2021 - Two teams of students representing Hong Kong have achieved excellent results at the 51st International Physics Olympiad (IPhO 2021) and the 62nd International Mathematical Olympiad (IMO 2021). Due to the COVID-19 epidemic, contestants participated in the competitions in their own country or region under online monitoring and joined virtual activities.

Hong Kong SAR Government strongly opposes US State Department’s 2021 Investment Climate Statements: Hong Kong
July 22, 2021 - Hong Kong’s Financial Secretary, Mr Paul Chan, today said that the malicious smear and allegations against the National Security Law (NSL) made in the 2021 Investment Climate Statements: Hong Kong (the Statements) released by the United States Department of State is unfounded. He reiterated that the implementation of the NSL has safeguarded Hong Kong's unique strengths under the “one country, two systems” and ensured a safe and stable environment, which reinforced Hong Kong’s position as an international financial center and is conducive to attract more global investors to do business and invest in Hong Kong.

Government to maintain most of the social distancing measures
July 22, 2021 - The Hong Kong Special Administrative Region Government will gazette amendments, directions and specifications 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 maintain most of the social distancing measures currently in place, and introduce a new type of scheduled premises, namely “event premises”, with a view to specifying restrictions and requirements applicable to certain events with greater clarity so that social and economic activities can be resumed gradually in a controlled manner. The above directions and specifications will take effect from 0.00am on July 22, for a period of 14 days till August 4 (the specified period).

Consumer Price Indices for June 2021
July 22, 2021 - The Census and Statistics Department of the Hong Kong Special Administrative Region Government released today the Consumer Price Index (CPI) figures for June 2021. According to the Composite CPI, overall consumer prices rose by 0.7% in June 2021 over the same month a year earlier, smaller than the corresponding increase (1.0%) in May 2021. The smaller increase in the Composite CPI in June was mainly due to the Government's additional provision of electricity charges subsidy starting from June 2021. 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 June 2021 was 0.4%, larger than that in May 2021 (0.2%). The larger increase was mainly due to the enlarged increases in the costs for meals out and takeaway food as well as the smaller decreases in the prices of proprietary medicines and supplies. 

Hong Kong Monetary Authority hosts virtual symposium on Commercial Data Interchange
July 22, 2021 - The Hong Kong Monetary Authority (HKMA) today (July 22) hosted a symposium on the Commercial Data Interchange (CDI). The Symposium attracted over 300 senior representatives from more than 100 organizations of the banking sector and Stored Value Facility operators.

Unemployment rate fell to 5.5%
July 20, 2021 - According to the latest labor force statistics (i.e. provisional figures for April - June 2021) released today by the Census and Statistics Department of the Hong Kong Special Administrative Region Government, the seasonally adjusted unemployment rate decreased from 6.0% in March - May 2021 to 5.5% in April - June 2021. The underemployment rate also decreased from 2.8% in March - May 2021 to 2.5% in April - June 2021.

Hong Kong and Singapore keep epidemic developments under review for launch of bilateral Air Travel Bubble
July 20, 2021 - The Governments of the Hong Kong Special Administrative Region (HKSAR) and Singapore are keeping the developments of the COVID-19 epidemic situation, particularly in Singapore, under review to decide on the way forward for the Hong Kong-Singapore Air Travel Bubble (ATB).

Volume and price statistics of external merchandise trade in May 2021
July 19, 2021 - Further to the external merchandise trade statistics in value terms for May 2021 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.

National security: key to protecting Hong Kong’s business environment
July 17, 2021 - The Chief Secretary for Administration, Mr John Lee, today made the following statement in response to the latest actions by the United States Government against the Hong Kong Special Administrative Region (HKSAR)

Statement by Chief Executive on US Secretary of State’s Statement on National Security Law
July 17, 2021 - Further to the Government press release issued this morning (July 17) in response to the “business advisory” released by the US Department of State, the Department of Commerce, the Department of Homeland Security, and the Department of the Treasury to US businesses and individuals operating in Hong Kong, the Chief Executive of the Hong Kong Special Administrative Region (HKSAR), Mrs Carrie Lam, made the following statement commenting on the US Secretary of State's Statement on the National Security Law.

Hong Kong’s position as international financial center remains resilient
July 17, 2021 - Hong Kong’s Financial Secretary, Mr Paul Chan, today said that the implementation of the National Security Law (NSL) has reinforced Hong Kong’s position as an international financial center. He also reiterated that the so-called “business advisory” issued by the US Administration to US businesses and individuals operating in Hong Kong is totally ridiculous and unfounded.

National Security Law aligns with international practice
July 17, 2021 - Responding to the US Administration’s so-called “advisory” to US businesses and individuals operating in Hong Kong, the Department of Justice (DoJ) today issued the following statement.

Hong Kong the best place in Asia for business and investment
July 17, 2021 - Hong Kong, with its prime location, unrivalled connections to China, East Asia, the Association of Southeast Asian Nations, and stability restored, is the best place in Asia for business and for investment, the Secretary for Commerce and Economic Development, Mr Edward Yau, said today.

Chief Executive attends APEC Informal Leaders’ Retreat
July 16, 2021 - Hong Kong’s Chief Executive, Mrs Carrie Lam, attended the Asia-Pacific Economic Cooperation (APEC) Informal Leaders’ Retreat via video conferencing tonight (July 16) to exchange views with leaders of the other economies on strategies to fight against COVID-19 and accelerate economic recovery.

Cross-Agency Steering Group announces next steps to advance Hong Kong’s green and sustainable finance strategy
July 15, 2021 - The Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) (Note 1) today announced the next steps to advance its collaborative strategy to bolster Hong Kong's position as a leader in green and sustainable finance and help transition the financial ecosystem towards carbon neutrality. As priorities, the Steering Group will focus on climate-related disclosures and sustainability reporting, carbon market opportunities and the launch of the new Centre for Green and Sustainable Finance.

Hong Kong Customs detects first case of suspected money laundering using virtual currency
July 15, 2021 - Hong Kong Customs on July 8 mounted an operation codenamed “Coin Breaker” in which a suspected money laundering syndicate involving HK$1.2 billion (US$153 million) was smashed and four persons were arrested. This is the first time Customs has detected a money laundering case with virtual currency usage by a suspected money laundering syndicate.

Personal Data (Privacy) (Amendment) Bill 2021
July 14, 2021 - The Hong Kong Special Administrative Region Government will arrange gazettal of the Personal Data (Privacy) (Amendment) Bill 2021 (the Bill) on July 16, and has submitted the Legislative Council (LegCo) Brief on the Bill to the LegCo today.

Companies Registry releases statistics for first half of 2021
July 13, 2021 - The total number of local companies registered under the Companies Ordinance was 1,384,504 as at the end of June this year, according to the statistics released by the Companies Registry today.

Fourth Joint Conference on Advancing Hong Kong’s Full Participation in and Contribution to Belt and Road Initiative held
July 12, 2021 - The Government of the Hong Kong Special Administrative Region (HKSAR), the National Development and Reform Commission (NDRC) and relevant Mainland ministries held the fourth Joint Conference on Advancing Hong Kong’s Full Participation in and Contribution to the Belt and Road Initiative (B&RI) today (July 12) through video-conferencing.

10th Anniversary of Hong Kong UNESCO Global Geopark
July 11, 2021 - To mark the 10th anniversary of Hong Kong UNESCO Global Geopark (Hong Kong Geopark), the Agriculture, Fisheries and Conservation Department (AFCD) today held the 10th anniversary celebration program kick-off ceremony cum community seminar at the Hong Kong Science Museum.

Government will not tolerate any harassment against judges
July 8, 2021 - In light of the persistent harassment against a judge while handling court cases, the Department of Justice issued the following statement today (July 8).

Sale of Goods (United Nations Convention) Bill to be introduced into LegCo
July 7, 2021 - The Hong Kong Special Administrative Region Government will introduce the Sale of Goods (United Nations Convention) Bill into the Legislative Council (LegCo) to implement the United Nations Convention on Contracts for the International Sale of Goods (CISG) in the Hong Kong Special Administrative Region, with a view to enhancing Hong Kong's legal infrastructure for the international sale of goods and bolstering its role as an international hub for trade and dispute resolution.

Government to maintain most of the social distancing measures
July 7, 2021 - The Hong Kong Special Administrative Region Government will gazette directions and specifications 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 maintain most of the social distancing measures currently in place. The above directions and specifications will take effect from 0.00am on July 8, for a period of 14 days till July 21 (the specified period).

Foreign currency reserves at US$491.6 billion
July 7, 2021 - The Hong Kong Monetary Authority (HKMA) announced today that the official foreign currency reserve assets of Hong Kong amounted to US$491.6 billion as at the end of June 2021, compare with US$494.5 billion  at end-May 2021.

Hong Kong welcomes BIS to step up its collaboration with Asia
July 6, 2021 - Hong Kong’s Financial Secretary, Mr Paul Chan, said today (July 6) that he welcomes the Bank for International Settlements (BIS) to step up its collaboration efforts with central banks in Asia.

Hong Kong SAR Government welcomes consensus largely reached on BEPS 2.0 framework
July 2, 2021 - With a view to addressing the base erosion and profit shifting (BEPS) risks arising from the digitalization of economy, the Organisation for Economic Co-operation and Development (OECD) announced yesterday (July 1) the framework for international tax reform (commonly referred to as BEPS 2.0) to ensure a fairer distribution of taxing rights in respect of profits of large multinational enterprises (MNEs) and to set a global minimum tax rate. A total of 130 jurisdictions globally (including Hong Kong) have indicated acceptance of the package.

Securities and Futures (Amendment) Bill 2021 and Limited Partnership Fund and Business Registration Legislation (Amendment) Bill 2021 gazetted
July 2, 2021 - The Hong Kong Special Administrative Region Government published in the Gazette today the Securities and Futures (Amendment) Bill 2021 and the Limited Partnership Fund and Business Registration Legislation (Amendment) Bill 2021 to provide for new fund re-domiciliation mechanisms to enable existing non-Hong Kong investment funds to move their establishment and operation to Hong Kong.

Applications for Sir Edward Youde Memorial Fellowships and Scholarships for Overseas Studies 2022/23
July 2, 2021 - The Sir Edward Youde Memorial Fund Council announced today that applications for its Fellowships and Scholarships for Overseas Studies (including the award for students with disabilities) for the academic year 2022/23 are now open.

Government vehemently objects to United States Trafficking in Persons Report 2021
July 2, 2021 - A Hong Kong Special Administrative Region Government spokesman said today that the Hong Kong Special Administrative Region (HKSAR) Government vehemently objects to the biased and unreasonable assessment of the United States Trafficking in Persons Report 2021 (the Report) released by the United States Department of State (USDS).   

 

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