Economy
HK benefits from PRC’s bullish economy, clinches a ratings upgrade
HK benefits from PRC’s bullish economy, clinches a ratings upgrade
Moody's has upgraded the government bond ratings of the Hong Kong Special Administrative Region to Aa1 from Aa2 and raised the foreign currency bank...
Hong Kong and Japan inks tax agreement
Hong Kong residents receiving dividends from Japan will now pay at least 5% withholding tax for a company holding.
Hong Kong economy seen to grow by 5.7%
Yet growth expected to ease on as global economy decelerates while assets will heat up.
October foreign currency reserve assets surges to US$267bln
Hong Kong’s total foreign currency reserve assets represent over nine times the currency in circulation.
HK sets three-month trial for new electric cars
Toyota Prius Plug-in Hybrid trial is part of a global testing scheme to make Hong Kong a electric-vehicle-friendly city.
Exchange Fund yields $74bln in third quarter
Yet the Monetary Authority expects a lower income from the bonds market in the fourth quarter.
New mortgage loans in September up 2.4%
The average loan-to-value ratio of new loans approved down to 58.6% from 61.4%.
September renminbi deposits up 14.5%
HK dollar loan-to-deposit ratio dropped by a percentage point at the end of September, as HK-dollar loans rose slower than deposits.
Companies Registry produces $141m surplus
107,416 new companies were incorporated during the year as technology shortened the process of starting a business.
HK and India agree to expedite tax-cut plan
Chief Executive Donald Tsang invited Indian companies to list in HK bourse as he asked Indian authorities to consider granting visa-free access to HK...
Survey shows climate change top concern in Hong Kong
Yet only 15% in HK said they understand a lot about climate change compared to 36% global average.
September total exports up 24% to $280.2bln
A trade deficit of $24.4bln, equivalent to 8% of the value of imports of goods, was recorded in September.
US quantitative easing seen to boost HK asset prices
Yet HK chief executive’s address offered very few measures in curbing near-term property price advances.
Hong Kong and France agree to avoid double taxation
Tax pact was also made with 14 countries as HK opens expansion opportunities to French companies.
Hong Kong unemployment rate steady at 4.2%
The underemployed grew by 500 to 71,000 despite increase in total employment by 8,000 people.
More renminbi bonds to be issued in Hong Kong
ADB and World Bank’s top quality bonds issuance demonstrates importance of HK as renminbi bond market.
Overseas companies operating in HK up 2.6%
Twenty percent of the companies said they may expand their businesses in Hong Kong.
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