News

Gov’t proposes regulatory regime on the use of autonomous vehicles

The bill will be up for the Legislative Council’s reading on 14 December.   The proposed new regulatory framework for the trial and specified use of autonomous vehicles –- Road Traffic (Amendment) (Autonomous Vehicles) Bill 2022 –- will be introduced to the Legislative Council on 14 December.   The Transport & Logistics Bureau, which proposed the bill, said autonomous vehicles technology has the promising advantage of enhancing road safety, optimising the use of limited road space and thereby reducing car accidents arising from human error.    In the Hong Kong Smart City Blueprint 2.0 published in December 2020, one of the smart mobility initiatives is to facilitate the technological advancement and industry development in Vehicle-to-Everything and autonomous vehicles.   The government then proposed amending the Road Traffic Ordinance and also empowering the Secretary for Transport & Logistics to make new subsidiary legislation, Autonomous Vehicles Regulation, to establish a suitable regulatory regime to facilitate the trial and specified use of autonomous vehicles.  

Gov’t proposes regulatory regime on the use of autonomous vehicles

The bill will be up for the Legislative Council’s reading on 14 December.   The proposed new regulatory framework for the trial and specified use of autonomous vehicles –- Road Traffic (Amendment) (Autonomous Vehicles) Bill 2022 –- will be introduced to the Legislative Council on 14 December.   The Transport & Logistics Bureau, which proposed the bill, said autonomous vehicles technology has the promising advantage of enhancing road safety, optimising the use of limited road space and thereby reducing car accidents arising from human error.    In the Hong Kong Smart City Blueprint 2.0 published in December 2020, one of the smart mobility initiatives is to facilitate the technological advancement and industry development in Vehicle-to-Everything and autonomous vehicles.   The government then proposed amending the Road Traffic Ordinance and also empowering the Secretary for Transport & Logistics to make new subsidiary legislation, Autonomous Vehicles Regulation, to establish a suitable regulatory regime to facilitate the trial and specified use of autonomous vehicles.  

7 high-end properties up for sale 

The prices of the properties range from  $18.2m to $550m.

Tenement buildings in Kowloon sold for $260m

It was sold to Apex Intelligence Limited.

Cathay opens experiential retail space in Cityplaza shopping mall

Customers can scan products through QR code and use flexible modes of payment.

Foreign currency assets down by $25.5b in October: HKMA

The decrease was attributed to the sale of US$ under currency board arrangements.

Customs ratifies reciprocal trade facilitation for 13 markets

The government signed mutual recognition arrangement documents.

Gov’t deficit rises to $275.75b 

In August, the deficit was at $183b.

Approved mortgage loans drop 4.7% MoM in October

The drop was likely due to the decrease in applications during the same month.

Rising interest rates, weakening economy dampen residential property demand

Residential sales were down 18.8% MoM in October, according to the Land Registry.

DBS Asia Capital names Lindsay Chu as new CEO

Prior to joining DBS, has worked senior roles in HSBC, Nomura, and J.P. Morgan.

HK, Guangdong launch cooperation projects on IP 

The projects cover areas such as cross-boundary IP protection.

Exports value drop 10.4% YoY to $374.77b in October

The deterioration of the external economic environment contributed to the fall.

Grade-A Office rents down 1.8% MoM in October

The downward rental trend will continue for the rest of 2022.

Dah Sing Bank joins Mastercard’s Priceless Planet Coalition

As a banking partner, Dah Sing Bank will raise customer awareness towards reforestation.