Economy
Gross national income climbs 8.8% YoY to $3.3t in 2023
In real terms, GNI increased by 4.9% YoY.
Lower rates not enough to halt Hong Kong’s slowing economic growth: Natixis
Ongoing property woes a growing issue for its largest source of tax income.
Life Sciences industry offers investors high risks, rewards
The life sciences capital scene is struggling with few revenue sources.
Two Sessions conclusion fuels Hong Kong’s goals for future development
The Two sessions’ key theme is new quality productive forces.
Hong Kong emerges as 10th most globalised market
In 2023 edition of the index, Hong Kong ranked 31st out of 181 markets.
Greater Bay Area’s development boosts HK competitiveness
Hong Kong is in a unique position to enhance its role as an offshore renminbi service hub.
Trade value to mainland dampens in 2023
Total exports to the mainland are 6.5% YoY.
Construction sector sees 4.2% growth in Q423, totaling $71.3b
Main contractors saw an 8.8% nominal increase in total GVCW, reaching $271.0b, in 2023.
Gov’t announces tax concession plans
The tax concessions will benefit over 2m taxpayers and 3m properties.
How Hong Kong can utilise fiscal reserve to support economic growth
The region's fiscal reserve as of the end of 2023 was roughly 23% of GDP.
HK, Bahrain forge investment pact to strengthen economic ties
The agreement will come into effect once both sides have fulfilled internal procedures.
Gov't projects $48.1b deficit for FY24-25
For FY23-24, the government expects a deficit of $101.6b.
HK targets revenue boost through tax reforms, fiscal measures
Proposed measures include implementing a two-tiered tax regime for salaries and personal assessment.
Experts call for stronger tax reliefs for individuals, enhanced family office tax breaks
An expanded family office tax concession regime seen propelling the city as global capital hub.
More SME support announced in Budget speech
All enhancements will take effect for the 2024-2025 assessment year.
Financial Secretary Paul Chan has announced a series of strategic measures in...
Gov’t sets aside $4.3b to support IP trading and creative arts branding
The IP trading and the creative industry received funding of $45m and $4.3b respectively.
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