Economy
How Hong Kong can utilise fiscal reserve to support economic growth
The region's fiscal reserve as of the end of 2023 was roughly 23% of GDP.
How Hong Kong can utilise fiscal reserve to support economic growth
The region's fiscal reserve as of the end of 2023 was roughly 23% of GDP.
HK, Bahrain forge investment pact to strengthen economic ties
The agreement will come into effect once both sides have fulfilled internal procedures.
Gov't projects $48.1b deficit for FY24-25
For FY23-24, the government expects a deficit of $101.6b.
HK targets revenue boost through tax reforms, fiscal measures
Proposed measures include implementing a two-tiered tax regime for salaries and personal assessment.
Experts call for stronger tax reliefs for individuals, enhanced family office tax breaks
An expanded family office tax concession regime seen propelling the city as global capital hub.
More SME support announced in Budget speech
All enhancements will take effect for the 2024-2025 assessment year.
Financial Secretary Paul Chan has announced a series of strategic measures in...
Gov’t sets aside $4.3b to support IP trading and creative arts branding
The IP trading and the creative industry received funding of $45m and $4.3b respectively.
Budget 2024-25: Gov’t cuts salaries and profits taxes
The government will reduce salaries tax for the 2023-24 tax year by 100%, subject to a ceiling of $3,000.
Rollback of property cooling measures to spur sales, but no silver bullet to recovery
Analysts estimate up to a 15% sales increase, although prices may still fall in 2024.
Hong Kong and Shenzhen strengthen environmental collaboration
Chemical treatment process results showed reduced phosphorus discharge into Ng Tung River and Shenzhen River.
Exports value climbs 33.6% YoY to $388.7b in January 2024
The pace of increase has picked up.
HK adds Xi'an, Qingdao cities to Individual Visit Scheme
The expansion will help boost tourism and benefit industries such as hotels and retail.
Consumer prices increase 1.7% YoY in January
Compared to December 2022, the increase in inflation was more moderate.
HKTDC outlines priorities to boost global business, C&E hub
Amongst the focus areas is strengthening presence in the GBA.
EU removes HK from tax cooperation watchlist
The city’s removal follows the implementation of a new foreign-sourced income exemption regime.
Population grows by 0.4% in 2023
The government attributed the increase to the net inflow of 51,700 residents.
Unemployment rate stands at 2.9%
There were 102,600 unemployed people from November 2023 to January.
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