Economy
Hong Kong to build $1b AI Research & Development Institute
Hong Kong to build $1b AI Research & Development Institute
The institute will be formed by the Digital Policy Office.
‘Strategic’ enterprises to invest $50b in Hong Kong and generate 20,000 jobs
The OASES will announce the new batch in March 2025.
China slowdown, trade uncertainty to weigh on HK’s 2025 growth
GDP growth is expected to slow further to 2.3% in 2025.
HKTDC to bolster competitiveness, global connections
Amongst HKTDC's strategies include nurturing a new generation of SMEs and start-ups.
HK inflation up 2% in January
Price hikes were recorded in alcoholic drinks and tobacco.
HK unemployment rate steady at 3.1%
The underemployment rate also stayed at 1.1%.
Population inches up 0.1% in 2024
It was driven by a net inflow of 21,000 residents.
Negative sentiments dominate over one-third of money talks amongst Hongkongers
Younger people are more cautious indiscussing financial matters.
Hong Kong lodges WTO complaint over 10% US tariff on imports
The government said the tariffs are grossly inconsistent with the relevant WTO rules.
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.
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