Hong Kong

In-force business growth and higher sales spurred the growth.

This will help clients purchasing new ILAS policies to build their investments.

More homeowners offer discounts to offload properties as market sentiment weakens.

Jewellry, watches and clocks and valuable gifts saw the sharpest decline.

Retail banking clients registered in Personal Internet Banking can opt in.

Some food service chains have reduced operating hours.

This is due to the weak performance in both domestic and external demand.

A 30-second ad gets 12% less in revenue compared to a 15-second ad.

Their exposure to SMEs and unsecured loans heightens the risks.

One-off tiered subsidies will be provided to parlours, massage establishments, and party rooms.

The industry posted an overall occupancy rate of 29% in February.

Co-Chairman of Henderson Land and Wix.com named as new investors. Technology and data science company Oriente has secured approximately $387.5 (US$50m) in its on-going series B funding round, according to an announcement. Co-chairman of Henderson Land Peter Lee has committed as the lead new investor whilst cloud-based website development platform Wix.com has also participated in the funding round along with the existing investors. The new capital will be used to enhance the company’s technology infrastructure, product suite and big-data capabilities, and drive expansion into new markets such as Vietnam, according to Oriente. This follows the previously announced initial funding in November 2018, and a separate $387.5m (US$50m) debt funding facility from Silverhorn Group.  

Air exports and imports record a downward trend due to decline in demand. Overall air trade outlook of companies that focus on in- or out-bound air trading dropped to 23.7 in Q2 2020, according to DHL Hong Kong Air Trade Leading Index. This is 5.5 points lower than 29.2 in Q1 and the lowest reading since 2014.

Both markets are deemed export-dependent.

Accomodation and food services worst hit amongst all sectors.

This is attributed to the rents paid and waived by the government.