Tagged: Hong Kong

Hong Kong - Asia's business centre

Strong Growth for Hong Kong’s Economy

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Hong Kong’s economy grew by 4.3% in the first quarter of 2017. This is the fastest pace in six years. Retail sales, in nominal terms, dropped by 1.3% year-on-year in January-March 2017. The adjusted unemployment rate was at 3.2% and consumer prices grew by 0.5% in the same period. A strong growth could be observed […]

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Hong Kong - Asia's business centre

Hong Kong’s changing Business District

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According to a report by JLL more Chinese companies are relocating in the prime business district Central while multinational corporations are increasingly moving to outer suburbs of Hong Kong. Many multinational corporations explain their decision by looking for modern buildings as IT facilities are critical and being closer to their clients. Lower costs and the […]

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Germany Business

Double Taxation Agreement – Germany & Hong Kong

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Various countries already have a Double Taxation Agreement (DTA) in place with Hong Kong. A DTA is an agreement between two countries that reduces the tax bill for an individual who is a resident in one country but  has citzenship in another country. At the moment Hong Kong and Germany do not have a DTA […]

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Hong Kong - Asia's business centre

Tax Standards of Hong Kong under Review

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The Financial Services and the Treasury Bureau in Hong Kong is discussing the latest standard published by the Organisation for Economic Cooperation and Development (OECD) on automatic exchange of financial account information in tax matters. Standard according to OECD: According to the new standard by the OECD, jurisdictions are required to collect from financial institutions […]

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China Business

Reduced import duties on consumer goods in China

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China reduced import duties on some consumer goods ranging from shoes to cosmetics. According to the Ministry of Finance the duties will be: cut by half on average on imports suits, fur garments and shoes reduced on cosmetics to 2% from 5% and on diapers to 2% from 7.5% China’s government targets to encourage consumer’s domestically spending. Currently: Chinese tourists travel abroad […]

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China Business

Alibaba’s 128 Mio USD investment in Hong Kong

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Alibaba announced that it will launch a 1 billion HK$ not-for-profit foundation in order to support Hong Kong startups.  According to the company this is its first entrepreneur-support initiative for Hong Kong. The foundation will be managed by professional investment managers and all profits of Alibaba’s foundation will be re-invested into startups. Additionally Alibaba will […]

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Hong Kong - Asia's business centre

ASEAN-Hong Kong Free Trade Agreement

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Negotiations for a ASEAN-Hong Kong free trade agreement are underway. The future outlook for greater trade flows between the two regions are very positive. Hong Kong will benefit from the FTA as the city is a provider of trade-related services and a vital conduit of trade between China and the rest of the world. Hong Kong expects to have a free […]

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Hong Kong - Asia's business centre

Guangdong-Hong Kong-Macau Free Trade Zone

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The Guangdong-Hong Kong-Macau Free Trade Zone is reportedly took another hurdle by being initially approved by the central government after seeking the opinions of 28 ministries and commissions Guangdong already has three free trade zones: Qianhai near Shenzhen, bordering Hong Kong; Hengqin island in the Zhuhai special economic zone; and Nansha district of the provincial […]

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Hong Kong - Asia's business centre

Hong Kong Sevens economic impact

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Another weekend of Hong Kong Sevens came to an end today. Besides the fun that all fans enjoyed and the great rugby that was shown by all players the Sevens have a positive economic impact on Hong Kong each year: An in-depth Economic Impact Analysis (EIA) of the 2013 IRB Sevens by Grant Thornton notes […]

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Hong Kong - Asia's business centre

“Hongkonger” and “Hong Kongese” now in dictionary

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According to a report in South China Morning Post the words “Hongkonger” and “Hong Kongese” were added to the Oxford English Dictionary. Further the publisher Oxford University Press added a new sub-entry for Hong Kong Chinese in its most recent quarterly update. Oxford English Dictionary defines Hongkonger and Hong Kongese as “a native or inhabitant […]

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