Economy
Retail sales value fall 9.7% YoY to $29.9b in June
Retail sales value fall 9.7% YoY to $29.9b in June
The government attributed the decline to changing consumption patterns.
GDP increases 3.3% YoY in Q2, faster than Q1 growth
In Q1, the economy grew by 2.8% YoY.
Hong Kong exports up 10.7% in June
Imports also rose by 9% to $429.2b.
HK inks consultancy pact to build East Kowloon eco-transit system
The green mass transit system will span 7 kilometers in total.
Hong Kong hits record 1.44 million local companies in H1
A total of 324 licenses were given out to trust or company service providers.
Hong Kong employers increasingly hiring contract workers
The demand is driven by transformation projects and demand for flexibility.
Breadwinners burdened with finances of 3 dependents on average
Over 1 in 2 respondents manages the finances of spouses and parents/ in-laws.
Gov’t passes bill to boost social worker standards
Secretary Sun emphasised the importance of social workers in national security.
Hong Kong enacts 'patent box' tax concession
This include offering a 5% tax rate on qualifying profits from patents.
Hong Kong eyes low-altitude economy
It will focus on developing Advanced Air Mobility (AAM) technologies.
Hong Kong enhances Deposit Protection Scheme
It raises the protection limit from $500,000 to $800,000.
Hong Kong IPO market slated for resurgence in H2
PwC Hong Kong is “cautiously optimistic” for the market.
Gov’t to to enhance trade services liberalisation with China
The new measures will offer Hong Kong businesses more opportunities in China.
New citizen travel card launched for Hong Kong & Macao permanent residents
The card will begin getting issued on 10 July.
Surge in exports to Mainland China boosts Hong Kong’s trade
The trade forecast was revised upward from a maximum of 6% to 11% amidst export growth.
Patent box incentive boosts R&D investment in Hong Kong
New tax regime can attract R&D-focused businesses.
Financial instability curb spending and consumers turn to credit
Two in five consumers expect to be unable to pay their current bills and loans in full.
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