Hong Kong

HK, Chongqing establish a cooperation mechanism

The parties will work together in 11 areas, including the Belt & Road Initiative.

HK's commercial real estate sales climb 15% YoY to US$2.6b in Q1

The city is amongst the only two major markets to post an increase in investment volume.

Commercial real estate volume drops 10% YoY to $12.56b in Q1

Most transactions in Q1 were primarily small mid-sized private capital deals.

Gov’t passes family office tax relief measure

The tax concession for FIHVs will be applicable for assessment commencing on or after 1 April.

Gov't to kick off construction works for Kwu Tung Station mid-2023

The station is under the Northern Link project that connects New Territories and Kowloon.

Manulife HK and Macau insurance sales rise 26% to HK$1.66b in Q1

Critical illness plans and deferred annuity plans increased by over 40%.

7 in 10 HK-based firms eye overseas expansion

Firms cited three key motivators for them to expand.

Startup enables business to capitalise on regulatory changes with predictive insights

Bilby.AI predicts regulations by tracking over 100,000 entities in China.

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. 

Number of applications for business support fund rising amidst return to normalcy

As of February 2023, HKPC approved around 5,700 applications.

8 in 10 SMEs say getting credit approval 'easier' in Q1: HKMA

Some, however, perceived the process to be "more difficult."

Gov't extends application for land sharing scheme to May 2024

The extension allows project proponents to prepare and submit the required information for their application.