No.9  September, 2017  
Hong Kong ranks 6th in World Economic Forum Global Competitiveness Index 2017-18
Hong Kong ranked 6th in the World Economic Forum Global Competitiveness Index 2017-18, jumping three places over last year's ranking. The Index covered 137 economies, measuring competitiveness - defined as the set of institutions, policies and factors that determined the level of productivity. Hong Kong had made the largest leap among the top 10 economies this year.  Hong Kong was endowed with the world’s best physical infrastructure, and its healthy level of competition and openness ensured extremely efficient markets (2nd) which, in turn, were supported by strong and stable financial markets (5th).  In terms of judicial independence, Hong Kong ranked 1st in Asia and 13th globally. Read here for more about the WEF Index.
Belt and Road Summit 2017
The Hong Kong SAR Government and the Hong Kong Trade Development Council jointly organised the Belt and Road Summit (Summit) on 11 September, attracting more than 3,000 political and business leaders, policymakers, and experts in related trades from around the world to attend. The Chief Executive, Mrs Carrie Lam said at the Summit that the Belt and Road Initiative would have a significant impact, not only for China and Asia, but also for countries along the Belt and Road routes and beyond. She noted that as an international metropolis and China's best-connected city, Hong Kong could, and would, make immense contributions to the Belt and Road across all the five areas of connectivity, namely policy coordination, facilities connectivity, unimpeded trade, financial integration and people-to-people bonds.  Read more about the Summit here.
Secretary for Innovation and Technology’s visit to Sydney
The Secretary for Innovation and Technology, Mr Nicolas Yang visited Sydney from 7 to 9 September to forge closer ties between Hong Kong and Australia on innovation and technology front. Mr Yang met with senior officials in charge of innovation and technology including Australia’s Minister for Industry, Innovation and Science, Mr Arthur Sinodinos and the Minister for Finance, Services and Property of New South Wales, Mr Victor Dominello to learn more about Australia's innovation support programmes. To gain a deeper understanding of Australia’s research and development efforts, Mr Yang visited the research unit of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) Data61, two incubators and the Australian Securities Exchange. He also attended events in celebration of the 20th anniversary of the establishment of the HKSAR (20A). For more about his first-day visit, please read here. For his visit on the other days, please read here.
  Business forum and fun-filled carnival to celebrate 20A
Two large-scale events were held in Sydney in early September to celebrate the 20A. Hong Kong Economic and Trade Office, Sydney, in collaboration with Australian Chamber of Commerce and Industry, organised the Hong Kong 20: Developments and Opportunities Business forum on 8 September for more than 200 attendees from political and business sectors to share insights into the latest developments and business opportunities in the areas of innovation, trade and investment, as well as infrastructure in Hong Kong and Australia. Speaking at the forum, the Secretary for Innovation and Technology, Mr Nicholas Yang highlighted the development of the 87-hectare Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop area which would complement the development of the Guangdong-Hong Kong-Macao Bay Area. He encouraged Australian companies to capitalise on the opportunities of the Loop, explore business opportunities in Hong Kong and tap the ever-expanding China market. Read more about the forum here.

On 9 September, Hong Kong-Australia Business Association New South Wales Chapter, with the support of the Hong Kong Economic and Trade Office, Sydney organised a fun-filled carnival at Tumbalong Park in Darling Harbour for members of the public to share the joy of the 20A.  The HK20 Fun Fun Carnival was officially kicked off by the Secretary for Innovation and Technology Mr Nicholas Yang.  Featuring a wide range of food and cultural activities, the event attracted more than 10,000 visitors. A Hawker Bazaar offered Hong Kong’s signature street food and drinks such as egg waffles, pineapple buns and Hong Kong-style milk tea. Together with an array of cultural programmes including Tai Chi, lion dance and Chinese calligraphy, the carnival provided unique Hong Kong experience to members of the public. To know more about the carnival, please read here.
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