Hong Kong Economic and Trade Office, San Francisco
Hong Kong

What's New 2020

 

   
Hong Kong's financial ranking goes up

Hong Kong ranked fifth in the latest Global Financial Centres Index (GFCI) Report, up by one place from the last index, the Government said today. Details here.

Hong Kong's financial ranking goes up
   

SCMP

How traditional Chinese medicine is helping to fight Covid-19

Hong Kong has been using traditional Chinese medicine (TCM) to help Covid-19 patients. Since April, the city’s Hospital Authority has launched a special TCM outpatient program for discharged patients. Details here.

How traditional Chinese medicine is helping to fight Covid-19
   
Hong Kong students excel at International Mathematical Olympiad

Hong Kong students continue to attain good results in international competitions related to science, technology, engineering and mathematics (STEM) education. A team of six students representing Hong Kong achieved outstanding results in the 61st International Mathematical Olympiad (IMO 2020), winning three silver medals and three bronze medals. Details here.

Hong Kong students excel at International Mathematical Olympiad
   
Hong Kong Economic and Trade Office in San Francisco Welcomes New Director

Ms. Jacko Shun Man Tsang assumed the post of Director of the Hong Kong Economic and Trade Office in San Francisco on August 27, 2020.  Ms. Tsang is responsible for promoting and strengthening the business, trade and cultural ties between Hong Kong and 19 western states of the United States. Details here.

Hong Kong Economic and Trade Office in San Francisco Welcomes New Director
   

CNBC

A New Normal: Resilience of a Digital Economy

As the coronavirus swept across the globe, industries ranging from automotive to food processing saw global companies suspending production as their supply chains broke down. Other organizations got caught up transitioning to digital when they could have been addressing consumer needs. But not in Hong Kong. Details here.

CNBC

A New Normal: Resilience of a Digital Economy
   
Secretary for Commerce & Economic Development attends webinar to share insights on global trade after COVID-19 pandemic

Secretary for Commerce & Economic Development Edward Yau attended a webinar organized by The Economist Events to share his insights on global trade after the COVID-19 pandemic. Details here.

Secretary for Commerce & Economic Development attends webinar to share insights on global trade after COVID-19 pandemic
   
Entry to Hong Kong during the Fight Against COVID-19

Hong Kong remains open to visitors during the current fight against COVID-19 virus. But to prevent the virus from entering and spreading in the city, strict measures have been put in place. Details here.

Entry to Hong Kong during the Fight Against COVID-19
   

euronews.

How Hong Kong used homegrown tech to fight COVID-19

When the COVID-19 struck, Hong Kong acted quickly, and successfully, to control the outbreak early on. And it did this with a mixture of strong health and safety measures, along with a lot of homegrown technology. Details here.

How Hong Kong used homegrown tech to fight COVID-19
   
Arbitral proceedings scheme starts

The Hong Kong Special Administrative Region Government has launched a pilot scheme to provide facilitation for eligible non-Hong Kong residents participating in arbitral proceedings in Hong Kong on a short-term basis. Details here.

Arbitral proceedings scheme starts
   
The Economist: "Global trade in transition? The world after COVID-19" webinar

Secretary for Commerce and Economic Development, Edward Yau; Deputy Director General of the European Commission, Helena König; and Managing editor, Asia, and global editorial lead, trade and globalisation of The Economist Intelligence Unit, Christopher Clague will speak on "Global trade in transition? The world after COVID-19" at a webinar organized by The Economist on September 9. Details here.

"Global trade in transition? The world after COVID-19" webinar
   

CNBC

Hong Kong becoming an R&D powerhouse

- The SARS outbreak in 2003 taught Hong Kong’s leaders how vital it is to invest in research and development in industries like healthcare and medicine.

- Having committed over HK$100 billion (US$12.9 billion) into innovation in recent years, Hong Kong has now become one of the fastest-growing hubs for emerging fields like biotech and telemedicine.

- A strong academic foundation and collaboration across industries, Hong Kong is seeing its innovations take center stage worldwide.

Details here.

Hong Kong becoming an R&D powerhouse
   
Tenth Edition of Hong Kong Cinema Moves Online

The annual series of Hong Kong Cinema is taking place July 12-August 5 as an online showcase of four Hong Kong films, each with a live-streamed moderated conversation with film directors and cast members. Details here.

Tenth Edition of Hong Kong Cinema Moves Online
   
Requirements for travelers from the US

In view of the developments of the epidemic situation, with effect from July 29,  a traveler who has visited the United States within 14 days before arrival in Hong Kong must provide the following documents. Details here.

Requirements for travelers from the US
   
Security law comes into effect

The Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region (the National Security Law) was gazetted for promulgation on June 30 and took effect at 11pm the same day. Details here.

Security law comes into effect
   

euronews

Hong Kong's new business and cultural normal

As the world struggles with the coronavirus pandemic, Spotlight explores how Hong Kong's start-up and cultural scene is adapting through a hybrid of on and offline events. Details here.

Hong Kong's new business and cultural normal
   
Cash handout registration set

The Cash Payout Scheme will be open for registration from June 21, and Hong Kong permanent residents aged 18 or above on or before March 31, 2021 are eligible to receive the $10,000 payout. Details here.

Cash handout registration set
   
Govt opposes US sanctions law

The Hong Kong Special Administrative Region Government expressed strong opposition to the passage of the Hong Kong Autonomy Act by the Senate of the US Congress. Details here.

Govt opposes US sanctions law
   
National security law fully supported

Chief Executive Carrie Lam said the Hong Kong Special Administrative Region Government fully supports the legislative work for safeguarding national security in the city. Details here.

National security law fully supported
   
Hong Kong ranked 5th in World Competitiveness Yearbook 2020

Hong Kong was ranked the fifth most competitive economy by the International Institute for Management Development in its World Competitiveness Yearbook 2020. Details here.

 

Hong Kong ranked 5th in World Competitiveness Yearbook 2020
   
Hong Kong's rights and freedoms assured

Hong Kong residents’ rights and freedoms will be unaffected by the National People’s Congress’ deliberation of a decision to establish and improve at the national level the legal system and enforcement mechanisms for the city to safeguard national security. Details here.

Hong Kong's rights and freedoms assured
   
Works departments receive UK New Engineering Contract awards

Three works departments received awards from the New Engineering Contract (NEC) Users' Group of the United Kingdom. Details here.

Works departments receive UK New Engineering Contract awards
   
Gov’t supports NPC's deliberation

The Hong Kong Special Administrative Region Government supports the National People’s Congress’ (NPC) deliberation of the decision to establish and improve at the national level the legal system and enforcement mechanisms for the Hong Kong Special Administrative Region to safeguard national security. Details here.

Gov’t supports NPC's deliberation
   

Financial Times

Global engagement proves key to the Greater Bay Area

Since the unveiling of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) initiative in 2017, companies around the world have been building GBA strategies into their business models. Details here.

Global engagement proves key to the Greater Bay Area
   

CNBC

Bringing a pandemic to heel

This year, with the onset of the Covid-19 pandemic, Hong Kong’s systems clicked into place to provide a strong frontline defense. World-class viral research capabilities and the use of cutting-edge innovations have enabled the city to prevent the kind of rapid transmission that has been seen in many other regions.

While many countries battled the breakout with stringent lockdown measures to curtail the spread and reduce death tolls, Hong Kong managed to keep its numbers in check and maintain a semblance of normality that other economies are still struggling to resume. Details here.

Bringing a pandemic to heel
   
HKSAR Government refutes statements by US Administration

The Hong Kong Special Administrative Region Government said on May 30 that sanctions or trade restrictions against Hong Kong are not justified and will break down the mutually beneficial Hong Kong-US relationship. Details here.

HKSAR Government refutes statements by US Administration
   
US policy change will hurt relations

Trade relations are a two-way street and any unilateral changes in US policy towards Hong Kong would hurt bilateral relations, Secretary for Commerce & Economic Development Edward Yau said. Details here.

US policy change will hurt relations
   
Hong Kong's resilience will prevail

Financial Secretary Paul Chan
2019 was an unsettling and unforgettable year for Hong Kong. Our economy was fraught with uncertainties due to the US-China trade tension. However, no one could have predicted that social unrest and turbulence would break out in the middle of the year, hitting our already slowing economy and even dragging it into recession. Details here.

HK's resilience will prevail
   
Hong Kong Government to distribute free reusable masks to all citizens

The Hong Kong Innovation and Technology Bureau (ITB) announced on May 5 that Hong Kong Government will distribute free reusable CuMask+™ to all Hong Kong citizens. Details here.

Hong Kong Government to distribute free reusable masks to all citizens
   
Testing on US and Europe travelers - Updates

Asymptomatic inbound travelers arriving on flights from the US and Europe are required to undergo COVID-19 testing upon arrival. Details here.

Testing on travelers enhanced
   
Hong Kong to remain a free society: CE

Chief Executive Carrie Lam
Chief Executive Carrie Lam said Hong Kong will remain a free society, but if national security is not protected, many of the things that the city treasures will be lost. Details here.

Hong Kong to remain a free society: CE
   
Building Development Teams in Hong Kong is a Viable Option for Bay Area Tech Companies

Do tech companies’ engineering teams have to be based in Silicon Valley?  Some Bay Area entrepreneurs said it doesn’t have to be.  Flexport, Clover Health and HomeCourt all have development teams offshore.  And it works! Details here.

Building Development Teams in Hong Kong is a Viable Option for Bay Area Tech Companies
   

The Economist

The evolution of Asia’s Art Hub

At the crossroads of East and West, Hong Kong has always been a melting pot of culture and art. It is the region’s biggest art market and hosts diverse artistic trends, people and artists. Now, Hong Kong is investing in museums, artists, people and spaces to become the art hub of Asia. Details here.

The evolution of Asia’s Art Hub
   
UK design studio opens first international outlet in Hong Kong

UK design studio, Bompas and Parr, announced the opening of its first international studio in Hong Kong to capitalize on the city's dynamic cultural and creative industries to expand its business in Asia. Details here.

UK design studio opens first international outlet in Hong Kong
   
Hong Kong Immigration Department wins 2020 Skytrax Award for Best Airport Immigration Service

The Hong Kong Immigration Department (ImmD) has been voted the winner of the 2020 best airport immigration service award in the World Passenger Survey commissioned by Skytrax, an international specialist research agent of the air transport industry. This is the fourth time for the ImmD to receive the award after winning it in 2015, 2016 and 2019. Details here.

Hong Kong Immigration Department wins 2020 Skytrax Award for Best Airport Immigration Service
   

CNBC

SCED Edward Yau on CNBC: Hong Kong is ‘highly resilient’ as it fights to save the economy in the pandemic

Hong Kong is fighting a "twin battle" — fending off the coronavirus pandemic and trying to save its battered economy at the same time — but the city remains “highly resilient” despite the challenges, its commerce secretary said on April 14. Hong Kong’s recovery depends on global trade and will be determined by when the world gets back on its feet, Edward Yau, Hong Kong’s secretary for commerce and economic development, told CNBC. Details here.

SCED Edward Yau on CNBC: Hong Kong is ‘highly resilient’ as it fights to save the economy in the pandemic
   
Five Guys Expands in Asia, Following Hong Kong Success

America burger brand Five Guys continues its Hong Kong growth while planning more debuts in APAC.

Founded in Virginia in 1986, Five Guys currently owns over 1,600 restaurants worldwide with both franchise and direct-own stores, spanning across the US, Europe, Middle East and Asia. Hong Kong was the first Asian city that the company chose to open an outpost, followed by Singapore. Details here.

Five Guys Expands in Asia, Following Hong Kong Success
   
New principal officials take oath

The State Council, on the recommendation by Chief Executive Carrie Lam, approved on April 22 the appointment of five principal officials. Details here.

New principal officials take oath
   

The Economist

How Hong Kong is winning at eSports

Building a successful eSports ecosystem requires excellent internet and connectivity, support from the public sector, financial institutions and universities, a sustainable talent pipeline of tech-savvy young people, a thriving technology development scene, capital investment, and venues to host physical events. Hong Kong meets all of the above criteria—and has a number of unique advantages that other global cities lack. Details here.

How Hong Kong is winning at eSports
   

Financial Times

Driving Hong Kong’s Workforce

To meet the demands of a rapidly changing global economy, a competitive city’s workforce needs not only to be highly skilled but also adaptable and agile. Thanks to Hong Kong’s geographical position at the heart of Asia, its high standards in local education and training, and its sophisticated business culture, the city continues to prove a magnet for top-tier talent. Details here.

Driving Hong Kong’s Workforce
   
Hong Kong ranked 2nd freest economy

Hong Kong has ranked at number two in the Heritage Foundation's 2020 Index of Economic Freedom. Details here.

Hong Kong ranked 2nd freest economy
   
Testing on travelers enhanced

The Department of Health will strengthen health quarantine and COVID-19 testing arrangements for all inbound travelers from April 8.

Under the Prevention & Control of Disease Regulation, all asymptomatic inbound travelers arriving at Hong Kong International Airport will be required to have their deep throat saliva samples taken at the Temporary Specimen Collection Centre at AsiaWorld-Expo for COVID-19 testing. Details here.

Testing on travelers enhanced
   
Virus surveillance scheme extended to cover asymptomatic inbound travelers

The Department of Health’s Enhanced Laboratory Surveillance Programme that provides free COVID-19 testing will be extended to cover asymptomatic travelers arriving in Hong Kong from the UK, other European countries and the US in phases. Details here.

Virus surveillance scheme extended to cover asymptomatic inbound travelers
   
Financial Secretary uses budget to promote economic diversification, boost pillar industries and foster talent

The Financial Secretary, Mr. Paul Chan, in his 2020-21 Budget, announced a wide range of measures to help Hong Kong tackle the current economic difficulties and to strengthen Hong Kong’s pillar industries while identifying new growth engines among emerging sectors. Details here.

Financial Secretary uses budget to promote economic diversification, boost pillar industries and foster talent
   
All non-Hong Kong residents coming from overseas countries and regions by plane will be denied entry to Hong Kong, effective March 25

To further prevent imported cases and cut the global and local virus transmission chain as far as possible, the Hong Kong Special Administrative Region (HKSAR) Government will implement the following measures with effect from 0.00am on March 25 (Hong Kong time), tentatively for 14 days: Details here.

Hong Kong banning non-resident arrivals from March 25
   
Gov’t responds to US report

The Hong Kong Special Administrative Region Government reiterated that foreign governments should not interfere in any form in the city's internal affairs. Details here.

Gov’t responds to US report
   
Compulsory home quarantine for travelers from U.S. to Hong Kong

On March 15, the Hong Kong Special Administrative Region (HKSAR) Government issued the Red Outbound Travel Alert (OTA) for the United States, the United Kingdom and Ireland due to the persistent and rapid increase in the number of COVID-19 cases there. Details here.

Compulsory home quarantine for travelers from U.S. to Hong Kong
   

Bloomberg

The Strategic Logistics Hub in the Heart of Asia

Strategically located in the heart of Asia, Hong Kong has long served as the premier hub of professional capabilities for Mainland China and Asia Pacific as a whole.

Home to one of the most services-orientated economies in the world, Hong Kong has a full range of business services to support the growth of all economic sectors from legal to technology and innovation, making up over 93% of GDP. Over the past several decades, it has developed unparalleled talent across a range of business needs. This is especially true for the logistics and transport sectors, unsurprising given that Hong Kong’s air cargo and container ports are among the busiest in the world. Details here.

The Strategic Logistics Hub in the Heart of Asia
   

The Economist

Hong Kong: Asia’s Green Finance Hub

We spoke to experts from the private and public sectors in both Asia and Hong Kong on how Hong Kong is developing a green finance ecosystem and hub.

Click here for more.

Hong Kong: Asia’s Green Finance Hub
   
Gov't rejects credit rating

The Hong Kong Special Administrative Region Government expressed deep disappointment with Moody's Investors Service’s decision to downgrade Hong Kong's credit rating.

Click here for more.

Gov't rejects credit rating
   
HK financial market stable

Financial Secretary Paul Chan
The challenges, for Hong Kong, are as much local as they are global. I know many of you are concerned about the recent social unrest here in Hong Kong, about whether it is affecting our financial market and whether there has been outflow of funds.

Click here for more.

HK financial market stable
   
Gov’t strongly opposes US report

The Hong Kong Special Administrative Region Government reiterated that foreign governments should not interfere in the city’s internal affairs.

Click here for more.

Gov’t strongly opposes US report
   

 




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