Economy
Hong Kong leads race to 'normalcy'
Hong Kong leads race to 'normalcy'
With a score of 96%, Hong Kong is the closest out of 50 areas to pre-pandemic normal.
Wealthy Hong Kongers to reach 831,000 by 2025
The global number of millionaires could go over 84 million in the next five years.
Inflation rate speeds up 1% in May
This is faster than 0.8% in April.
Hong Kong ranks 7th most competitive economy in 2021
This is two places down from its 2020 ranking
Hong Kong’s national income rises 7.5% to $722b in Q1
This was attributed to a net inflow of investment income.
How Hong Kong can capture opportunities in China’s 14th five-year plan
This will benefit sectors such as finance and technology amongst others.
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.
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