Hong Kong Economic and Trade Office, Washington DC
Hong Kong

What’s New

Hong Kong Meets America
   
Hong Kong Update for Travellers and Others

Get travel advice and stay on top of the latest developments in Hong Kong affecting the airport, public transport, public safety and other issues. Details here.

Hong Kong Update for Travellers and Others
   
Financial markets operating normally

October 10, 2019 - The Hong Kong Monetary Authority (HKMA) reiterated (Oct 10) that the invocation of the Emergency Regulations Ordinance does not affect the normal operation of Hong Kong's banking sector or financial markets. Banking services are largely normal, except for service disruptions caused by vandalized branches and ATMs where immediate and full restoration of services was not possible. The city's banking system is very robust and sound, with average capital adequacy ratio of 20%. The Hong Kong Dollar exchange rate has remained stable throughout the recent social disruptions. The HKMA and the HKSAR Government have an unwavering commitment and ample resources to defend the Linked Exchange Rate System when needed. Details here.

Financial markets operating normally
   
Bringing Hong Kong and Idaho Closer Together

October 9, 2019 - Eddie Mak, Hong Kong Commissioner to the United States, met with Idaho governor Brad Little to discuss the latest developments in Hong Kong and opportunities for Idaho businesses in the city.

Bringing Hong Kong and Idaho Closer Together
   
Hong Kong among world's top competitive economies

October 9, 2019 - Bounding up four notches, Hong Kong is now the world's third most competitive economy, among 141 surveyed, according to the latest World Economic Forum's Global Competitiveness Report. Hong Kong came in first on four pillars - the most of any economy - of assessment: macroeconomic stability, health, financial system and product market. Hong Kong placed third in infrastructure and ICT adoption. Details here.

Hong Kong among world's top competitive economies
   
Cautious approach to emergency law

October 8, 2019 - The Hong Kong Government will make a careful assessment before invoking the Emergency Regulations Ordinance again, said Chief Executive Carrie Lam (Oct 8). She said the only prerequisite or condition to invoke the ordinance is to achieve the objective of ending violence and restoring law and order in Hong Kong. Mrs Lam said the Government is very committed to use its own instruments - legal instruments, political instruments such as continuing dialogue, policy instruments like addressing some of the deep-seated problems in livelihood and economic issues - to try to restore calm and order in Hong Kong. Details here.

Cautious approach to emergency law
   
August retail sales fall 23%

October 2, 2019 - The value of total retail sales in August, provisionally estimated at US$3.7 billion, fell 23% year-on-year. The plunge reflected the weak consumer sentiment amid subdued economic conditions, and the severe disruptions to inbound tourism and consumption-related activities caused by the local social incidents.The Government said retail sales had registered the steepest year-on-year decline for a single month on record, even worse than that recorded in September 1998 during the Asian Financial Crisis. The Government will closely monitor the situation and the implications for the labor market and the economy. Details here.

August retail sales fall 23%
   
Government hopes for more dialogues

September 27, 2019 - Secretary for Commerce & Economic Development Edward Yau has expressed hope that a peaceful and open dialogue between the Government and the public would help bring about a more conducive environment for more conversations in future. Speaking to the media (Sep 27), Mr Yau said the first Community Dialogue session, held on Sep 26, was conducted smoothly. “We are grateful to all those who have taken part, including those who tried to come but because of limited seats may not be able to come," he said. "We believe a peaceful dialogue, a heart-to-heart talk, and a very candid, open conversation between, and also among, government officials and also members of the public, would help to bring a more conducive environment for more conversation to carry on." Details here.

Government hopes for more dialogues
   
New measures to support the tourism sector

September 27, 2019 - With the city's tourism industry currently facing a tough time due to a decrease in visitors, Secretary for Commerce & Economic Development Edward Yau said the Government is taking a multi-pronged approach to tackle the downturn, which would include relaunching the Hong Kong brand overseas when things have settled more peacefully. In the mean time, the Government measures will support the industry by reducing their operating costs and to encourage talents and staff to engage in continuing professional development raining. Details here.

New measures to support the tourism sector
   
Hong Kong, I Am Listening
Op-ed by Chief Executive in The New York Times

September 26, 2019 - The New York Times published today an op-ed by Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region. The Chief Executive writes about the current unrest in society, her efforts to address discontent and the institutional strengths of Hong Kong. Details here.

Hong Kong, I Am Listening
   
Reinforcing Hong Kong-US Ties

September 26, 2019 - Eddie Mak, Hong Kong Commissioner to the United States, met with Congressman David Trone of Maryland, member of the House Foreign Affairs Committee. The two discussed the latest developments in Hong Kong and reinforced Hong Kong-US ties.

Reinforcing Hong Kong-US Ties
   
Green Fund scheme welcomed

September 25, 2019 - Secretary for Financial Services and the Treasury James Lau welcomed the launch (Sep 25) of the Green Finance Certification Scheme (Green Fund) to support green projects and enhance the transparency of the investment process. The Hong Kong Quality Assurance Agency program also encourages more investors from the fund market. The green fund will further strengthen market confidence in green financial products, said Mr Lau, adding that this was in line with the government's ongoing commitment to develop Hong Kong as a leading hub for green finance in the region. Details here.

Green Fund scheme welcomed
   
Energy management program wins US award

September 24, 2019 - Hong Kong's Electrical and Mechanical Services Department received (Sep 24) the Regional Institutional Energy Management Award for the Asia-Pacific region, in recognition of the department's outstanding performance in developing, organising, managing and implementing its comprehensive energy management program. This is the second time the EMSD has received the award from the Association of Energy Engineers in the US. It previously received the award in 2017. The EMSD is committed to promoting energy saving and carbon emission reduction in Hong Kong. With the joint effort by the EMSD and various sectors, the energy intensity of Hong Kong has decreased by 31 per cent over the past decade or so, a performance ranked among the best in the member economies of Asia-Pacific Economic Cooperation. Details here.

Energy management program wins US award
   
August inflation up 3.5%

September 20, 2019 - Overall consumer prices rose 3.5% year-on-year in August, larger than the corresponding increase (3.3%) in July 2019. Netting out the effects of all the Government’s one-off relief measures, the underlying inflation rate was 3.4%, compared to 3.2% in July. The month saw year-on-year price increases in food, housing, transport, miscellaneous goods, meals bought away from home and miscellaneous services. Decreases were recorded for electricity, gas and water, durable goods and clothing and footwear. No year-on-year price change was recorded for alcoholic drinks and tobacco. Details here.

August inflation up 3.5%
   

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