Hong Kong Business

Gov’t deficit hits $183b 
The government took into account the proceeds of $20b received from the issuance of green bonds.   The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.   There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.    In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
Gov’t to sell 3 residential sites in October-December quarter
The sites will provide about 2,500 units of flats.
Retail sales value slightly dips by 0.1% YoY in August
The total value stood at $28.6b.
Party time! Gov’t eases distancing measures in bars, clubs
The new measures will take effect on 6 October.
Sustainability in the workplace: In which areas should companies do more?
Workers (27%) think that their company is lagging in their sector in terms of sustainability efforts.
Cathay Pacific elevates chatbot performance with AI training platform
The platform helps chatbots provide more accurate responses to travel inquiries.
How are Hong Kongers attitude change whilst living with COVID-19?
Some have an increased desire to travel whilst some are still concerned about health.
Hong Kong set to enable new tax measures
The measures aim to tighten rules under BEPS.
Hong Kong sets sights on innovation and technology
The government has set aside $10b to enrich the I&T ecosystem.
Quota for private cars crossing Hong Kong-Zhuhai-Macao bridge raised
Up to 500 private cars can now cross the bridge per month.
Hong Kong may see negative economic growth in 2022
This is due to the rising cost of capital and tightening monetary conditions amongst others. 
Reverse quarantine talks with Shenzhen 'progressing’: CE Lee
Officials are still discussing whether HK citizens will conduct pre-quarantine in the city or Shenzhen. 
Hong Kong is the 5th most competitive market in the world 
In Asia-Pacific, it ranked second.

Join the Hong Kong Business community

Exclusives

Exclusives

HR & Education How financial institutions can overcome the towering demand for ESG roles 
Data from portal Indeed showed that ESG job offers in Hong Kong soared 442% in 2022.
Telecom & Internet How else can Hong Kong’s startup ecosystem improve
Microsoft created an incubation programme in partnership with the government.
HR & Education Achieving board diversity: It takes more than giving additional seats to women
Heidrick and Struggles CEO David Hui said the first step to diversity is identifying one's business objectives.
Residential Property Why tax deduction on domestic rents is not really a win for tenants
Under a newly passed bill, about $100,000 can be deducted from a tenant’s annual rent.
HR & Education How companies can successfully transition to hybrid work in just 2 steps
A Cisco official said a good hybrid workplace is where employees get to work the way they want.
Hotels & Tourism On a day trip? This marketplace allows 2-hour hotel stay and anytime-check-in
With Flow, customers can cut 50% to 70% of the price they usually pay for an overnight stay.

Top News

Gov’t deficit hits $183b 
The government took into account the proceeds of $20b received from the issuance of green bonds.   The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.   There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.    In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
Gov’t to sell 3 residential sites in October-December quarter
The sites will provide about 2,500 units of flats.
Retail sales value slightly dips by 0.1% YoY in August
The total value stood at $28.6b.
Party time! Gov’t eases distancing measures in bars, clubs
The new measures will take effect on 6 October.
Sustainability in the workplace: In which areas should companies do more?
Workers (27%) think that their company is lagging in their sector in terms of sustainability efforts.
Cathay Pacific elevates chatbot performance with AI training platform
The platform helps chatbots provide more accurate responses to travel inquiries.
How are Hong Kongers attitude change whilst living with COVID-19?
Some have an increased desire to travel whilst some are still concerned about health.
Hong Kong set to enable new tax measures
The measures aim to tighten rules under BEPS.
Hong Kong sets sights on innovation and technology
The government has set aside $10b to enrich the I&T ecosystem.
Quota for private cars crossing Hong Kong-Zhuhai-Macao bridge raised
Up to 500 private cars can now cross the bridge per month.
Hong Kong may see negative economic growth in 2022
This is due to the rising cost of capital and tightening monetary conditions amongst others. 
Reverse quarantine talks with Shenzhen 'progressing’: CE Lee
Officials are still discussing whether HK citizens will conduct pre-quarantine in the city or Shenzhen. 
Hong Kong is the 5th most competitive market in the world 
In Asia-Pacific, it ranked second.

Exclusives

HR & Education How financial institutions can overcome the towering demand for ESG roles 
Data from portal Indeed showed that ESG job offers in Hong Kong soared 442% in 2022.
Telecom & Internet How else can Hong Kong’s startup ecosystem improve
Microsoft created an incubation programme in partnership with the government.
HR & Education Achieving board diversity: It takes more than giving additional seats to women
Heidrick and Struggles CEO David Hui said the first step to diversity is identifying one's business objectives.
Residential Property Why tax deduction on domestic rents is not really a win for tenants
Under a newly passed bill, about $100,000 can be deducted from a tenant’s annual rent.
HR & Education How companies can successfully transition to hybrid work in just 2 steps
A Cisco official said a good hybrid workplace is where employees get to work the way they want.
Hotels & Tourism On a day trip? This marketplace allows 2-hour hotel stay and anytime-check-in
With Flow, customers can cut 50% to 70% of the price they usually pay for an overnight stay.

Join the Hong Kong Business community