Economy

HK, Bahrain forge investment pact to strengthen economic ties

The agreement will come into effect once both sides have fulfilled internal procedures.

HK, Bahrain forge investment pact to strengthen economic ties

The agreement will come into effect once both sides have fulfilled internal procedures.

Gov't projects $48.1b deficit for FY24-25

For FY23-24, the government expects a deficit of $101.6b. 

HK targets revenue boost through tax reforms, fiscal measures

Proposed measures include implementing a two-tiered tax regime for salaries and personal assessment.

Experts call for stronger tax reliefs for individuals, enhanced family office tax breaks

An expanded family office tax concession regime seen propelling the city as global capital hub.

More SME support announced in Budget speech

All enhancements will take effect for the 2024-2025 assessment year. Financial Secretary Paul Chan has announced a series of strategic measures in...

Gov’t sets aside $4.3b to support IP trading and creative arts branding

The IP trading and the creative industry received funding of $45m and $4.3b respectively.

Budget 2024-25: Gov’t cuts salaries and profits taxes

The government will reduce salaries tax for the 2023-24 tax year by 100%, subject to a ceiling of $3,000.

Rollback of property cooling measures to spur sales, but no silver bullet to recovery

Analysts estimate up to a 15% sales increase, although prices may still fall in 2024.

Hong Kong and Shenzhen strengthen environmental collaboration

Chemical treatment process results showed reduced phosphorus discharge into Ng Tung River and Shenzhen River.

HK adds Xi'an, Qingdao cities to Individual Visit Scheme

The expansion will help boost tourism and benefit industries such as hotels and retail.

Consumer prices increase 1.7% YoY in January

Compared to December 2022, the increase in inflation was more moderate. 

HKTDC outlines priorities to boost global business, C&E hub 

Amongst the focus areas is strengthening presence in the GBA.

EU removes HK from tax cooperation watchlist 

The city’s removal follows the implementation of a new foreign-sourced income exemption regime.

Population grows by 0.4% in 2023

The government attributed the increase to the net inflow of 51,700 residents.

Unemployment rate stands at 2.9%

There were 102,600 unemployed people from November 2023 to January.

Foreign investments in China down to 18-year low in 2022

One of the primary hurdles is the language barrier.