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News Category: Hong Kong News clear

Published in Hong Kong News on

HK News: FINTECH drives the New Normal

The coronavirus crisis has proved a catalyst for digital transformation through financial technology - or fintech. As Hong Kong recovers from the Covid 19 pandemic, the city's tech sector is boosting confidence in the economy's "new normal" and helping businesses and individuals embrace new ways of doing business.

Published in Hong Kong News on 26.08.2021

HK News: An Open Letter to the HKSAR Government: COVID-19 Regulations

In light of recent developments in the COVID-19 situation in Hong Kong, the Government has made sudden changes to quarantine requirements for residents flying into Hong Kong. As The European Chamber of Commerce in Hong Kong, we felt it is our obligation to express our opinions in an open letter to the Hong Kong Government. Please find the enclosed letter that was sent to the Chief Executive, the Secretary for Food and Health, the Secretary for Commerce and Economic Development, and the Financial Secretary of the Hong Kong Government to express the international community’s concerns towards sudden changes on quarantine regulations for several European countries and beyond.

Published in Hong Kong News on 10.12.2020

Hong Kong's Mandatory Provident Fund (MPF) pension scheme turns 20

In the 1990s, as financial security in old age became an ever-greater problem due to the increasing number of older people, a falling birth rate and the disintegration of extended families into nuclear families, the British government planned a mandatory pension scheme from 1993.

This was finally introduced on December 1, 2000, and since then has been the only compulsory social insurance in Hong Kong.

In mid-2020 a total of HKD 1 trillion (approx. 107 billion euros) in assets was managed for Hong Kong citizens.

Published in Hong Kong News on 14.04.2020

COVID-19: Subsidies in Hongkong

In Hong Kong, as in many other parts of the region, the COVID-19 pandemic is slowing down. This provides the opportunity to address the economic consequences .
Due to the economic impact of the global shutdown, the Hong Kong government has taken measures to stabilize the economic situation and established a Pandemic Response Fund to mitigate the negative effects of the corona crisis.

Published in Hong Kong News on 13.06.2019

Hong Kong News: ASEAN-Hong Kong Free Trade Agreement enters into force

The ASEAN – Hong Kong Free Trade Agreement (AHKFTA) entered into force on 11 June 2019 for Hong Kong and five ASEAN Member States, namely, Lao PDR, Myanmar, Singapore, Thailand and Viet Nam. Under the AHKFTA, Hong Kong and Singapore will grant tariff free access and will bind their customs duties at zero upon entry into force of the agreement. B… » read more

Published in Hong Kong News on 24.01.2018

Hong Kong News: December inflation up 1.7%

The Census & Statistics Department announced that the overall consumer prices rose 1.7% year-on-year in December. Netting out the effects of the Government's one-off relief measures, the underlying inflation rate was also 1.7%, slightly higher than the 1.6% rise in November. Year-on-year price increases were recorded for meals bought away from… » read more

Published in Hong Kong News on 09.12.2016

Hong Kong News: New SME Initiative - Technology Voucher Programme

In an effort to strengthen the competitiveness of Hong Kong businesses the Hong Kong Government launched a 500 million Dollar Pilot "Technology Voucher Programme" (TVP) under the Innovation & Technology Fund. This programme aims to subsidise SME’s use of technological services and solutions to improve productivity and upgrade business processes.

Published in Hong Kong News on 10.08.2016

Hong Kong News: New guidelines shall aim to ease the opening of bank accounts for foreign companies and investors in Hong Kong

The Hong Kong Monetary Authority (HKMA) plans to release new guidelines to simplify the opening process of bank accounts. Several banks made the account opening for start-ups and foreign SMEs very difficult. The HKMA urges all banks to strike a balance between compliance requirements and the providing of basic services for the public. The… » read more