Published
on 03.04.2014
The legal status of Bitcoin in Hong Kong
Bitcoin is a peer-to-peer payment system introduced as open source software in 2009. The digital currency created and used in the system is alternatively referred to as a virtual currency, electronic money, or a crypto currency because cryptography is used to control its creation and transfer. Because the Bitcoin system is not controlled by a single repository, like a central bank, bitcoin is also regarded as a decentralized currency.
Published
on 23.03.2014
The KAYRO Solutions Team: Experts in Global Trade
Trade is the backbone of the global economy, and in modern times much of that trade circulates through the heart of world commerce in Hong Kong.
Published
on 27.01.2014
Hong Kong - New Companies Ordinance (NCO)
Since mid-2006 a task force of Hong Kong legislators worked on the re-writing of the existing Companies Ordinance. Its aim was the modernization of Hong Kong's company law and further enhancing Hong Kong's status as a major international business and financial centre. On 12 July 2012, the Companies Bill was passed by Legislative Council.
Published
on 21.05.2013
Hong Kong Looking at Bright Economic Data
Hong Kong's economy grew by 2.8% in real terms year-on-year in the first quarter, the government announced.
In the same time period, Hong Kong's re-exports increased by 11.5%, while domestic exports decreased by 0.2%.
Published
on 18.10.2012
Hong Kong - Jobless rate nudges up to 3.3%
The seasonally adjusted unemployment rate rose from 3.2% in June-August to 3.3% in July-September, while the underemployment rate fell from 1.7% to 1.6%, the Census & Statistics Department announces.
Published
on 25.10.2012
Hong Kong - Total export, import values up
Hong Kong's total goods export and import values rose 15.2% and 14.9% year-on-year for September, the Census & Statistics Department announces.
Published
on 08.10.2012
Growth to Slow in East Asia and Pacific in 2012, But Domestic Demand Will Play Key Role in Rebound Next Year
Economic growth in the East Asia and Pacific region may slow down by a full percentage point from 8.2 percent in 2011 to 7.2 percent this year, before recovering to 7.6 percent in 2013. Growth in developed countries will remain modest, with recovery in the region to be driven mainly by strong domestic demand in developing countries, said the World… » read more
Published
on 11.10.2012
Provincial dreaming: China's local stimulus plans
The recent flurry of investment plans announced by provincial governments has stirred up expectations that China will see another boom in spending. The more useful projects, such as the urban metro systems approved in the first week of September by the National Development and Reform Commission (NDRC), will probably go forward. However, the central government's concerns about local government debt and the health of the banking sector will persuade it to exercise a much greater degree of caution than it has previously. Without top-level political support, provincial plans are unlikely to materialise into a repeat of the investment surge seen in 2009-10—or, in turn, the double-digit growth rates that accompanied them.
Published
on 26.09.2012
Are BRICs Hitting a Growth Wall?
A global pattern of easing economic growth in the first half of 2012 has impacted the “BRIC” nations – Brazil, Russia, India and China. However, I don’t think the BRIC economies have hit a brick wall. While some market participants have been waiting impatiently for governments to undertake further stimulus measures, others have wondered whether something more fundamental—and less within governmental control—might be at work.
Published
on 12.09.2012
China - Second-quarter provincial growth
As China's growth shifts into lower gear, the larger eastern provincial economies are bearing the brunt of the slowdown. Expansion in trade, investment and industrial production has slowed to—by national standards—a crawl. Inland provinces continue to outperform their coastal counterparts, much as they did in the aftermath of the 2008-09 downturn. Even though many western provinces are seeing a deceleration from their previously heady growth rates, they continue to maintain year-on-year GDP expansion of over 12%. They are also recording faster growth in disposable income and household consumption than the coastal provinces—a welcome development.
Published
on 14.08.2012
Building Sustainable Transport Systems in Chinese Cities
China's urban population exceeded its rural population for the first time in 2011. About 350 million new urban residents are expected to migrate to cities over the coming 20 years. Urban development is both a challenge and an opportunity for urban transport.
Published
on 16.08.2012
China - More inland choices
Until just a few years ago, the Pearl River Delta (PRD), Yangtze River Delta (YRD) and the Beijing-Tianjin axis were regarded as the three prime areas for foreign investment. Now they have been joined by a reinvigorated north-east—especially Liaoning province and, more specifically, the city of Dalian. For certain types of industries, such as electronics, a handful of inland clusters (notably Chengdu and Chongqing in western China) have also become attractive venues.
Published
on 31.05.2012
IMD announces its 2012 World Competitiveness Rankings
According to IMD's 2012 World Competitiveness Yearbook the top 3 countries are Hong Kong, US and Switzerland. US competitiveness remains the key to global recovery.
Published
on 14.05.2012
Asia's ambitious free-trade agenda
Asia's three largest exporters, China, Japan and South Korea, have agreed to begin negotiations towards a trilateral free-trade agreement (FTA). Such a pact would have potentially huge benefits, given the size and, to some extent, complementarity of the three economies. However, lengthy negotiations are likely to be required, and the many stumbling blocks include powerful protectionist lobbies in each country and recurrent geopolitical tensions in the region.
Published
on 27.07.2011
Vietnam: Second Payment System and Bank Modernization Project
The Second Payment System and Bank Modernization Project (PSBM2), which closed in June 2011, significantly improved the speed and reliability of interbank payments in Vietnam from two weeks in 2005 to within the day, with exponential growth (646 percent) of financial transactions nationwide (2005-June 2011). The participating banks settled… » read more
