Economy
Service industries pick up in Q1 but recovery remains “uneven”
Service industries pick up in Q1 but recovery remains “uneven”
Courier, warehousing and storage saw double-digit growth.
IMF affirms Hong Kong’s “resilient” financial system
But it flagged points of exposure to macro-financial risks.
HK-Georgia tax treaty to enter into force
The agreement will take affect on 1 July, after ratification procedures are completed.
Business optimism dented as SMEs “stayed cautious” in May
The diffusion index declined to 44.3 in May from 47.1 in April.
Daily Briefing: Malaysia goes into lock down; Vietnam suspends flights as new variant emerges
From AP:
Government records $10.6b fiscal deficit in first month
Fiscal reserves stood at $917.2b, as of end-April.
Virus resurgence may weigh down HK trade: analyst
The sector grew in April driven by stronger external demand.
US label requirement on Hong Kong goods deemed “discriminatory”: Gov’t
In a letter, the Hong Kong government asked the WTO to consider its position.
Global economic recovery to boost Hong Kong trade
Total value of exports and imports rose 24.4% and 25.2% in April.
Daily Briefing: US & China trade envoys meet; HSBC exits US retail banking; Australian state locks down
Trade envoys from the US and China talk on the phone for the first time since US President Joe Biden took office.
Daily Briefing: Global property markets to soar; UN envoy warns of potential Myanmar civil war
And more companies to move supply chains to China as COVID cases spike in other Asian economies.
Hong Kong still struggles in some areas of corporate governance: report
The country lags on whistleblowing and anti-graft enforcement stops at its borders.
HKMC records $362m loss in 2020
This was a drop from the $317m profit in 2019.
Hong Kong exports rose 32% in the first quarter
Import volumes also increased 24.4% during the first three months of the year.
Hong Kong GDP revised slightly up to 7.9%
The government maintained has its 3.5-5.5% forecast for the full year of 2021.
Hong Kong tightens health protocols for travellers from Taiwan
This comes amidst escalating cases of COVID-19 in Taiwan.
April sees optimistic SMEs, as sentiment rises to two-year high
The diffusion index on business receipts increased to 47.1, representing cautious optimism among small businesses.
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