Economy
Budget 2024-25: Gov’t cuts salaries and profits taxes
Budget 2024-25: Gov’t cuts salaries and profits taxes
The government will reduce salaries tax for the 2023-24 tax year by 100%, subject to a ceiling of $3,000.
Rollback of property cooling measures to spur sales, but no silver bullet to recovery
Analysts estimate up to a 15% sales increase, although prices may still fall in 2024.
Hong Kong and Shenzhen strengthen environmental collaboration
Chemical treatment process results showed reduced phosphorus discharge into Ng Tung River and Shenzhen River.
Exports value climbs 33.6% YoY to $388.7b in January 2024
The pace of increase has picked up.
HK adds Xi'an, Qingdao cities to Individual Visit Scheme
The expansion will help boost tourism and benefit industries such as hotels and retail.
Consumer prices increase 1.7% YoY in January
Compared to December 2022, the increase in inflation was more moderate.
HKTDC outlines priorities to boost global business, C&E hub
Amongst the focus areas is strengthening presence in the GBA.
EU removes HK from tax cooperation watchlist
The city’s removal follows the implementation of a new foreign-sourced income exemption regime.
Population grows by 0.4% in 2023
The government attributed the increase to the net inflow of 51,700 residents.
Unemployment rate stands at 2.9%
There were 102,600 unemployed people from November 2023 to January.
Foreign investments in China down to 18-year low in 2022
One of the primary hurdles is the language barrier.
CPA Australia urges Hong Kong to enhance business competiveness in budget
The committee also expects Hong Kong to address the deficit in Budget 2023-24
Provisional retail sales up 7.8% YoY in December 2023
For the whole year, Hong Kong saw a 16.2% increase in retail sales value.
Economy grows 4.3% YoY in 4Q23
For the whole of 2023, GDP grew 3.2% YoY.
These are the best and worst performing sectors in Hong Kong according to StandChart's SME Index
Finance and Insurance was the best performing sector for the first quarter.
Hong Kong launches 1st gas-powered food waste processing machine
It will reduce food waste by over 90%.
Exports value rises 11% YoY to $386.4b in December 2023
The pace of increase has picked up.
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