Hong Kong

The Chinese leader said the principle was successful.

John Lee was sworn in as Hong Kong’s new leader.

Overall market capitalisation in Hong Kong reached $42t in 2021.

Funds raised in H122 plummeted by 92% YoY. 

Inflows from Mainland China will support the city, but issues are challenging this role.

The supply for flexible workspace is expected to grow by 15% in 2023.

Qualified startups can apply to access extensive biotech funding.

Establishment of the new branch is slated for early 2023.

Almost half of the total value of business-to-business invoices was overdue.

Quarantine in the Mainland was cut to 10 days from 21 days.

This is due to low incomes.

She is tasked with the firm's business strategy for the Greater Bay Area.

The card offers up to 10% cash rebate and Pay Later options.

More than half of firms posted an increase in their average wage rates.

The value of exports has fallen behind the value of imports.   The value of Hong Kong exports dropped by 1.4% to $388.1b in May, falling behind the value of imports which rose 1.3% to $424.8b, the Census & Statistics Department said.   Given the decline in export value, the trade deficit clocked at $36.7b or 8.6% of the value of imports.    According to the government, the value of exports declined in May as the “global economy faced increasing headwinds.” It added that exports to the Mainland also fell further in the same month.    Looking ahead, the government said the “worsened global economic prospects will continue to weigh on the city’s export performance.”   “The step-up in monetary policy tightening by many major central banks, the development of the Ukraine situation as well as the pandemic’s lingering threat also add uncertainties,” it added.

Negative tests are required from customers of bars, pubs, clubs, and nightclubs.