News

Hong Kong recorded a trade deficit of 16 billion Hong Kong dollars in January.

Careful thought is required to maximize value from the recent Hong Kong budget measures to improve retirement savings and healthcare.

The surplus is over six times the government's original estimate of 0.8 percent.

Although economic growth could hit 5% this year after expanding 6.8% last year, the Government should focus on "fighting inflation".

Rising inflation looms as a major issue to tackle in 2011, said Financial Secretary John Tsang.

Deloitte had called for a 150% deduction (up from 100%) on office rental expenses for SMEs.

Hong Kong's top financial official proposed measures to smooth further economic development while curbing foreseeable inflation and property bubbles. This is in addition to actions for livelihood caring.

The benchmark Hang Seng Index closed at 22,906.90, down 83.91 points, or 0.36 percent, after fluctuating between 22,837.09 and 23,055.47.

4Q 2010 GDP is projected to have advanced 5.0% y-o-y compared with 6.8% for 3Q10.

Food inflation should be one of those leading the charge – already at a 23-month high in Dec 2010, Hong Kong’s food prices look set to rise further.

Moody's ascribes the strength of growth in many Asian economies in recent years to the benefits of increased integration with China.

The Government wants to find out public’s reaction on Government's initiative to offer tax exemptions to offshore funds engaged in futures trading.

Most if not all of the to-be reported FY11 surplus could be viewed as a windfall ready to be saved or spent.

The Chief Executive in Council has approved the government's plan to relax the criteria for assessing the financial eligibility of legal-aid applicants.

The government also plans to amend capital requirements for corporations licensed for Type 10 regulatory activity and connected matters.

The new maximum surcharge will be $165 for short-haul flights and $747 long-haul flights.