News

Exports to India, Thailand and Singapore posted double-digit declines.

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

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.

Grade A office leasing net absorption at its weakest since 2002. The rental declines in warehouse, grade A offices, and retail properties accelerated in Q1 2020, according to CBRE.

HKMA sold $2.79b (US$360m) of the city’s currency.

Exports to Vietnam, Taiwan and China saw double-digit increases.

Food and beverage suffered the most with an 8.6% increase in unemployment rate.

Clients can apply for loans up to $30,000.

Revenue passenger kilometres likewise fell by 84.3%.

Clients are offered a one-month maturity extension for import trade loans.

COVID-19 hits luxury transactions harder than the mass market.

A portion of the income has been donated to a charity organisation.

Fiscal deficit of 9.5% of GDP to be expected this year due to additional spendings.