Published in Hong Kong News on 24.01.2018
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
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 01.11.2016
Hong Kong’s unemployment rate stays extraordinary low. Last figures show the rate at 3.4% for the third quarter 2016 with a seasonal adjustment with a voluntary fluctuation of about 15%. From an employer’s view, the stable job market brings challenges in keeping employees with the company as many opportunities for demanded talent are inviting. The… » read more
Published on 02.11.2016
In just six years, the number of electric vehicles (EVs) in Hong Kong has increased significantly, largely on the back of government support, new technology and greater awareness of environmental protection as well as effective corporate marketing. How does the EV industry embrace the business opportunities as well as challenges?
Published in Hong Kong News on 10.08.2016
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
Published in Hong Kong News on 17.06.2016
Arthur Yuen (is deputy chief executive of the Hong Kong Monetary Authority) in an insight opinion for the SCMP says that banks’ due diligence checks on customers need to be stringent but not prohibitive, so that SMEs – particularly start-ups and foreign companies – can access the services they need.
Published in Hong Kong News on 01.06.2016
City’s efforts to create business friendly environment give it edge over rival Singapore and former champion, the US.
Published in Hong Kong News on 19.10.2015
In June the European Union has named Hong Kong as one of the international territories and countries that are not cooperating in efforts to fight tax avoidance and included HK in its list of ‘non-cooperative’ jurisdictions for tax purposes. The EC named any jurisdiction that was, at the time of publication, blacklisted as a tax haven by at least 10 EU member states.
Published on 23.10.2015
It is now official: China is no longer the favourite country to build new factories. While countries from Asia Pacific (APAC) still dominate the top half of the Index, highlighting the importance of the region as a global manufacturing powerhouse, there remains some underlying volatility. Rising labour and perational Costs in China, the world’s largest manufacturer in terms of output are adding to the attractiveness of lower Cost regions with Malaysia, Indonesia and Vietnam all ranking strongly as a result, the latter topping the Growth Index. Rising global operating Costs are contributing to a trend for re-shoring facilities to the West with stronger prospects for the US (ranked fourth) and certain European locations. Supply chain management and perceptions surrounding brand and where a product is produced are also high on a manufacturer’s agenda, adding to the attraction of manufacturing in home markets.
Published on 16.10.2014
Hong Kong, as a responsible member of the international community, is committed to enhancing tax transparency and preventing tax evasion. There are two types of exchange of information instruments: the exchange of information article incorporated in the Comprehensive Double Taxation Agreements / Arrangement (DTAs) and Tax Information Exchange Agreements (TIEAs).
Hong Kong's treaty partners may make a request for exchange of information to the Hong Kong competent authority under the Exchange of Information article in the DTAs or TIEAs.
Published on 12.09.2014
The Chinese economy has grown rapidly and created tremendous wealth. Nominal GDP has grown 7.5 times between 2000 and 2013. Total household income has about doubled between 2005 and 2012 alone and stands to more than triple between 2012 and 2030.
Published in ASEAN News on 06.06.2014
Competitiveness will feature prominently in the programme of the 2013 World Economic Forum on East Asia, taking place this week in Nay Pyi Taw, Myanmar’s capital. And rightly so: competitiveness is a critical driver of both prosperity and integration.
Published on 15.09.2014
The Government supports the new global standard for automatic exchange of financial account information, which can enhance tax transparency and combat cross-border tax evasion, Secretary for Financial Services & the Treasury Prof KC Chan said today.
Published on 21.07.2014
Taking an important step towards greater transparency and putting an end to banking secrecy in tax matters, the OECD today released the full version of a new global standard for the exchange of information between jurisdictions.
Published on 17.07.2014
Although Hong Kong and Macau remain much more prosperous than anywhere else in China, their economic prospects are bound up with the development of Guangdong province, which neighbours both territories in mainland China. Finance and tourism both stand to benefit from rising prosperity in the Pearl River Delta that encompasses them all, supported by infrastructure that will create an integrated economy with more than 100m inhabitants. Over the longer term, both Hong Kong and Macau look set to maintain their competitive niches, even as the mainland city of Guangzhou becomes the fulcrum of the regional economy.
