November - December 2010
Hong Kong - New Zealand Closer Economic Partnership Agreement
The Hong Kong, China - New Zealand Closer Economic Partnership Agreement (CEP Agreement) will enter into force on January 1, 2011. The CEP Agreement, signed on March 29, 2010 is Hong Kong’s first free trade agreement (FTA) with a foreign economy. It covers a wide range of areas of mutual interest to Hong Kong and New Zealand, including liberalization measures in both trade in goods and services.
Latest Developments of Renminbi Business in Hong Kong
On December 23, the Chief Executive of the Hong Kong Monetary Authority (HKMA), Norman Chan, held a briefing on the latest developments of renminbi (RMB) business in Hong Kong.
Gemological Institute of America Sets up Hong Kong Grading Laboratory
The Gemological Institute of America (GIA) announced the official opening of its new laboratory and diamond grading facility in Hong Kong.
IMF Welcomes Hong Kong Measures to Safeguard Financial Stability
The International Monetary Fund (IMF), in its December 3 Staff Report on Hong Kong, welcomed the government’s efforts in maintaining financial stability and reiterated its support for the Linked Exchange Rate system. The Staff Report confirmed the assessment in the Preliminary Conclusions of the IMF Mission released on November 18.
WTO Members Commend Hong Kong for its Free Trade Regime
In December, members of the World Trade Organization (WTO) commended Hong Kong for its open and free trade policies at a Trade Policy Review meetings held in Geneva. It was the sixth such WTO Review focusing on Hong Kong.
Government Committed to Developing Arbitration in Hong Kong
The Hong Kong government is committed to the development of arbitration in Hong Kong, the Secretary for Justice, Wong Yan Lung, SC, said at a November luncheon of the Hong Kong International Arbitration Centre.
International Study Shows Hong Kong Students' Rank Among World's Best
The Education Bureau (EDB) of the Hong Kong government welcomed the findings that Hong Kong students’ achievements continue to be among the best as revealed in the Programme for International Student Assessment (PISA) 2009.
11th Meeting of Joint Working Group on Sustainable Development and Environmental Protection Held in Hong Kong
On December 20, the Hong Kong-Guangdong Joint Working Group on Sustainable Development and Environmental Protection (JWGSDEP) held its 11th meeting in Hong Kong. The meeting reviewed the progress of various environmental cooperation initiatives. Both sides considered that good progress had been made on different fronts, including improving the air quality in the Pearl River Delta (PRD) region, promoting cleaner production, protecting water environment, and managing the forestry and marine resources.
Nixon Peabody LLP Expands Through Strategic Alliance with Hong Kong Law Firms
In December, Nixon Peabody LLP announced a new affiliation with Cheng Wong Lam & Partners (CWL), an independent law firm in Hong Kong, to further enhance its full range of legal services to its clients in the Asia-Pacific region.
Trial of Toyota Prius Plug-in Hybrid
On November 7, the Environment Bureau announced that it would conduct a three-month trial on a new model of hybrid vehicle, the Toyota Prius Plug-in Hybrid, as part of Hong Kong’s drive to encourage carmakers to focus on the Hong Kong market as they prepare new Electric Vehicle (EV) launches.
Developing a Trade Repository for OTC Derivatives Trades in Hong Kong
On December 10, the Hong Kong Monetary Authority (HKMA) announced the development of a local trade repository (TR) for over-the-counter (OTC) derivatives trades in Hong Kong.
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