Economy
Hong Kong’s composite interest rate surges to 0.24%
Upward adjustments of the weighted deposit rate and interbank rates prompted the surge.
Hong Kong’s composite interest rate surges to 0.24%
Upward adjustments of the weighted deposit rate and interbank rates prompted the surge.
Monetary Authority warns public to manage interest-rate risks properly
HKMA predicts Interest rates to go up as Hong Kong is seen to follow several Asia economies raising of interest rates to combat inflation.
Legislators approve proposal to give $6000 to each adult Hong Kong permanent resident
The proposal was passed by 34 votes, with 11 abstentions and none opposed.
Overall business payment performance in Hong Kong improves
Yet future uncertainties brought about by geopolitical tensions in the Middle East and repercussions from Japan earthquake may bring down overall...
HKMA warns rapid credit growth unsustainable
The agency plans to boost monitoring of the business plans and funding strategies of authorised institutions as banks’ HK dollar loan-to-deposit...
Secretary for Commerce and Economic Development Rita Lau resigns
She tendered her resignation to the Chief Executive for health reasons.
Consumers spending remains strong
Retail sales value grew to 18.8% in the first two months, which was strong by any measures.
Inflation to accelerate further at 4.7% in 2011
Consumer price inflation rose to a two-and-a-half year high of 3.7% in February.
Hong Kong’s foreign currency reserve assets down by US$.2bn
The Monetary Authority of the world’s 10th largest holder of foreign currency reserves said there were no unsettled forward contracts at the end of...
Hong Kong PMI expands for 21st straight month
PMI bounced back from the Lunar New Year into solid expansion territory as the March headline PMI jumped to 54.9.
Tourist spending in Hong Kong up 32.7% to HK$210bn
Visitor arrivals seen to grow 39.64mn in 2011, but is dependent on the stability of the global economy and maintenance of China of its robust...
Hong Kong and Spain inks tax deal
The 19% Spanish withholding tax on interest and 24% withholding tax on royalties on Hong Kong residents will both be slashed down to 5%.
Exchange Fund total assets fall by $71.1bn in January
Sales of Hong Kong dollars for foreign currencies and fiscal drawdowns caused the decline in Hong Kong dollar assets.
Hong Kong posts $9.5bn deficit in February
The government expects cumulative surplus to decrease in the last month of the financial year.
Securities & Futures Appeals Tribunal names 12 new members
The appointees to replace outgoing members for two years starting April 1.
Renminbi market sees robust growth
Further development and more offering of investment products are expected in Hong Kong.
Hong Kong and Portugal ink tax agreement
Investors and tourists of both parties to pay lower taxes and transport fees under the pact.
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