In Focus
7 in 10 HK-based firms eye overseas expansion
Firms cited three key motivators for them to expand.
60% of HK-based Japanese companies eye expansion of RCEP operations
RCEP markets, including Japan, accounted for 71% of HK’ total merchandise trade in 2022.
Frontline and low-skill roles to become more attractive following wage hike
The government raised the Statutory Minimum Wage to $40 per hour.
Gov't raises minimum wage to $40 per hour
Previously, it was $37.5 per hour.
Around 7 in 10 restaurants confident about the F&B sector outlook for Q2
Business satisfaction rose to 6.5 from 6.1 in Q4 2022.
New bill slashes transaction costs for Hong Kong market makers
The government gazetted a bill waiving stamp duty payable on certain transactions relating to dual-counter stock.
Gov’t needs to review valuations to ensure success of land sale programme – experts
Colliers estimates Hong Kong land revenue last year only 50% of target.
How brands can create a trustworthy and secure platform for consumers
The majority of Hong Kongers said they have more trust if brands are verified.
Retail sales value in January grew 7% YoY
The total value is at $36.2b driven by the return of tourists.
Demand for co-working spaces went up in February
Knight Frank said the volume of new letting sales doubled in Kowloon.
Residential market to hop on recovery track: Knight Frank
In February, transactions climbed 40.3% MoM.
Mainland tourists could drive Hong Kong’s retail market growth up
Growth in the retail market could reach 25% or pre-pandemic levels.
What can lead Hong Kong’s economy to rebound
Economists predict economic growth of 3.5%-4.0% for Hong Kong.
Exports value drops 8.8% YoY to $286.2b in February
The weak external environment contributed to the decrease.
Digitally-skilled employees can boost HK’s annual GDP by US$47.5b: study
Those with advanced digital skills can contribute about US$5.4b.
Outstanding credit card balances went up 7.3% YoY in Q4 22
It indicates that consumers are reengaged to the market.
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