Economy
Hong Kong’s economy expands by 2.5% in 2024
Hong Kong’s economy expands by 2.5% in 2024
Exports and imports of goods recorded YoY increases of 4.7% and 2.3% respectively.
HK exports up 5.2% in December
In contrast, imports dropped by 1.1% to $441.2b.
HK gov’t debt hits $293.2b
Fiscal reserves stood at $664.1b.
Hong Kong’s updated tax rules offer relief for leased property costs
The Inland Revenue Ordinance now allows deductions for restoring rented spaces.
Hong Kong urged to explore new revenue strategies
CPA Australia suggests raising fines and penalties and raising tobacco duties from the current 65%.
Only 29% of Hongkongers are optimistic about the upcoming year
57% of Singaporeans report high confidence in achieving their goals.
Hong Kong economy to log 2.7% growth in 2025
Logistics and trade remain under pressure from regional competition.
Hong Kong needs to raise taxes to counter budget deficit— IMF board
Continued weakness of land premium revenues is a problem.
539 overseas firms expand in HK
This is the highest number of companies assisted by InvestHK to date.
Consumer prices up 1.4% in December
Price hikes were seen in categories such as alcoholic drinks, tobacco, and electricity.
Unemployment rate stays at 3.1%
The underemployment rate also stayed steady at 1.1%.
Jobless rate unchanged at 3.1%
The underemployment rates of the manufacturing and financing sectors declined.
HA endorses 2025/26 corporate plan, budget
It focuses on increasing public housing supply and improving sustainability.
HK sees 3.6% decline in deal activity in 2024
Markets such as China, Singapore, and Malaysia also saw declines in deal volume.
HK salaries to increase by 4% across all industries
The technology industry is forecasting the highest increase at 4.2%.
How can Hong Kong address its growing budget deficit?
A consolidated budget deficit of $94.8b is projected for 2025.
New measures to strengthen financial cooperation between HK, Mainland China
Hong Kong will launch a new RMB Trade Financing Liquidity Facility with a total size of $106.21b.
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