Economy
Consumer prices rise 2.5% YoY in July, accelerating from June’s increase
In June, prices rose by 1.5% YoY.
InvestHK projects 47% rise in Belt & Road companies’ presence in 2024
In H1 2024, 15% of newly-expanded firms in Hong Kong were from Belt and Road economies.
Unemployment rate stands at 3%
There were 117,800 unemployed people between May and July.
Economy grows 3.3% YoY in Q2 2024
Quarter-on-quarter, the economy grew by 0.4%.
Hong Kong population at 7.5 million in mid-2024
It recorded 34,400 births and 52,400 deaths between mid-2023 and mid-2024.
Diffusion index climbs to 41.8 in July, indicating SME growth
The index, however, remained in contractionary territory.
What expanding Hong Kong companies seek from advisory firms
Eight in 10 companies in the city plan to expand overseas in the next three years.
HKMA proposes simplification of three-tier banking system
It aims to simplify DTCs to second-tier institutions.
Hong Kong a ‘pivotal global financial hub’: Knight Frank
Its urban prosperity is the best amongst new wealth hubs.
MICE rebounds in H1 2024 with 21 million visitors
Amongst overnight visitors, MICE arrivals accounted for 700,000 visitors.
HK, Cambodia sign 13 MoUs to boost trade and investment
The CE encourages Cambodian businesses to partner with Hong Kong.
Retail sales value fall 9.7% YoY to $29.9b in June
The government attributed the decline to changing consumption patterns.
GDP increases 3.3% YoY in Q2, faster than Q1 growth
In Q1, the economy grew by 2.8% YoY.
Hong Kong exports up 10.7% in June
Imports also rose by 9% to $429.2b.
HK inks consultancy pact to build East Kowloon eco-transit system
The green mass transit system will span 7 kilometers in total.
Hong Kong hits record 1.44 million local companies in H1
A total of 324 licenses were given out to trust or company service providers.
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