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Government announces details of new Capital Investment Entrant Scheme
The Government announced on 19 December the details of the new Capital Investment Entrant Scheme (CIES). The new CIES will accept applications from eligible persons aged 18 or above (including foreign nationals, Chinese nationals who have obtained permanent resident status in a foreign country, Macao Special Administrative Region residents and Chinese residents of Taiwan). An applicant must make an investment of a minimum of HK$30 million in the permissible investment assets, including investing a minimum of HK$27 million in the permissible financial assets and non-residential real estate, and placing HK$3 million into a new CIES Investment Portfolio. A successful applicant may bring his/her dependants to Hong Kong. Permission to stay will normally be granted to the applicant and his/her dependants for not more than two years. Upon expiry of the two-year period, they may apply for an extension of stay for not more than three years, and may subsequently apply for further extensions of stay for not more than three years upon the expiry of each three-year period. They may, upon a period of continuous ordinary residence in Hong Kong of not less than seven years, apply to become Hong Kong permanent residents in accordance with the law.
More details here. |
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Hong Kong is preferred destination for enterprises to set up and expand businesses
The Government announced on 21 December the results of the 2023 Annual Survey of Companies in Hong Kong with Parent Companies Located outside Hong Kong and the 2023 Startup Survey. There were 9 039 companies in Hong Kong with parent companies overseas or on the Mainland in 2023, which saw a recovery to pre-pandemic high levels. The total number of people engaged by these companies was around 468 000. In addition, start-ups in Hong Kong continued to flourish, with the number of start-ups reaching a record high of 4 257, up 272 from last year, fully demonstrating the attractiveness of Hong Kong to start-up founders. A spokesman for the Commerce and Economic Development Bureau said that the results demonstrated fully the favourable business environment in Hong Kong and that Hong Kong is an ideal destination for enterprises big and small to set up or expand their businesses. Overseas and Mainland enterprises are fully confident about Hong Kong and have therefore chosen Hong Kong for setting up and expanding their businesses, fully utilising Hong Kong’s distinctive advantages of enjoying strong support of the motherland and being closely connected to the world under “one country, two systems”, so as to better seize the opportunities arising from the post-pandemic recovery.
More details here. |
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InnoHK Summit 2023
Organised by the Innovation and Technology Commission and the Hong Kong Science and Technology Parks Corporation, InnoHK Summit 2023 was held successfully at Hong Kong Science Park on 6 December. The Summit attracted over 800 world-class academics, scientists, representatives of renowned institutes and industry leaders from Hong Kong and around the world. Under the theme of “From Collaborative Research to Real World Impact”, the Summit showcased the latest innovation and technology (I&T) developments and breakthroughs of InnoHK, Hong Kong’s leading role as a global research collaboration hub, and its strengths in commercialisation and talent development. The Chief Executive of the Hong Kong Special Administrative Region (HKSAR), Mr John Lee, said that the InnoHK initiative strives to build a global network of mutual learning and advancement, and the Summit is testimony to the importance attached by the HKSAR Government to international collaboration for knowledge advancement, addressing global issues, and transforming scientific findings into innovations that benefit humankind.
More details here.
Speech by the Chief Executive here. |
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Series of visiting activities to Hong Kong for C919 and ARJ21 successfully held and rouse enthusiasm for Hong Kong aviation
With the full support of the Civil Aviation Administration of China and the Commercial Aircraft Corporation of China, Ltd (COMAC), a series of visiting activities to Hong Kong for the home-developed aircraft C919 and ARJ21 were successfully held, allowing Hong Kong citizens to witness the country’s important milestone in the aviation manufacturing industry and experience firsthand the country’s significant achievements in the development of the aviation manufacturing industry. The C919 and ARJ21 aircraft were first received by a ceremonial water salute upon their arrival in Hong Kong and a welcoming ceremony was organised on the next day. A series of visiting activities then followed, including a static display at Hong Kong International Airport for tours by nearly 60 groups with a total of over 500 representatives; a flight demonstration by the C919 aircraft over Victoria Harbour; and a sharing session between representatives of the COMAC and more than 300 young people on knowledge and development of the two aircraft. The HKSAR Government will continue to make every effort to consolidate and enhance Hong Kong’s positioning of “eight centres” as outlined in the 14th Five-Year Plan, including the status as an international aviation hub, as well as to proactively collaborate with other airports in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
More details here. |
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HKETO supports music tour of Hong Kong Chinese Orchestra in Australia
HKETO supported the Hong Kong Chinese Orchestra (HKCO) in its staging of three music concerts in Australia to promote traditional Chinese music and showcase the music talent of Hong Kong. The HKCO started the Image China concert tour in Melbourne on 19 December, followed by a performance in Sydney on 21 December, with the last performance in Brisbane on 23 December. Nearly 80 outstanding musicians performed classical Chinese music repertoires including “The Silk Road Fantasia Suite”, “Dream of the Red Chamber Suite” and “The Terra Cotta Warriors”, presenting a grand feast of traditional Chinese music seamlessly blended with a modern touch.
Speaking at the receptions in Melbourne and Sydney, the Director of HKETO Sydney, Miss Trista Lim, said that it is always a priority of HKETO to promote arts and cultural exchanges with the local communities in Australia. To realise the positioning of Hong Kong as an East-meets-West centre for international cultural exchange under the 14th Five-Year Plan, HKETO is working proactively in assisting the touring of arts groups and delegations, whether they are travelling from Hong Kong to Australia or the other way round.
More details here. |
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Director of HKETO Sydney attended the 2023 China (Shenzhen) – Australia (Sydney) Economic and Trade Cooperation Conference
The Director of HKETO Sydney, Miss Trista Lim, attended the 2023 China (Shenzhen) – Australia (Sydney) Economic and Trade Cooperation Conference hosted by the Commerce Bureau of Shenzhen Municipality on 15 December. Miss Lim said that the collaboration between Hong Kong and Shenzhen is closer than ever on many fronts, especially on I&T as the strengths of the two cities are leveraged to create one of the best I&T ecosystems in the world. The Hong Kong-Shenzhen I&T Park, now under development, will become Hong Kong’s largest I&T centre and the bridgehead for I&T co-operation between Hong Kong and Shenzhen, serving as a hub of global technological innovation and important source of emerging industries.
Miss Lim also highlighted that the Chief Executive’s 2023 Policy Address has shown the Government’s dedication to dovetail with national strategies and realise Hong Kong’s development of the “eight centres” as outlined in the 14th Five-Year Plan. Many of the initiatives focus on deepening collaboration in the GBA in such areas as investment, logistics, maritime, fintech and green finance. |
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Deputy Director of HKETO Sydney virtually attended the “Guangdong-Hong Kong-Macao Greater Bay Area Development” Networking Event organised by the Western Australia Chapter of the Hong Kong Australia Business Association
The Deputy Director of HKETO Sydney, Mr Henry Mak, virtually attended the “Guangdong-Hong Kong-Macao Greater Bay Area Development” Networking Event organised by the Western Australia Chapter of the Hong Kong Australia Business Association on 13 December. Mr Mak said that GBA is one of the most open and economically vibrant regions in China with a total population of over 86 million and a GDP of over A$2.5 trillion, equivalent to the tenth largest economy in the world. As the “super-connector” and “super value-adder” for the GBA and Mainland China as a whole, Hong Kong is irreplaceable as the best destination for people to tap the vast potential in China. He also introduced the latest GBA oriented-initiatives in the Chief Executive’s 2023 Policy Address, notably the Northern Metropolis in Hong Kong as the new engine for growth, as well as the establishment of the Alliance of Hong Kong Youth Innovation and Entrepreneurial Bases in the GBA as a one-stop information, publicity and exchange platform.
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Hong Kong New Year Countdown Celebrations (Hong Kong)
The Victoria Harbour has always been the belle of the ball for Hong Kong’s spectacular countdown on New Year’s Eve. This year, get ready to be dazzled by a 12-minute firework musical extravaganza themed “New Year New Legend”, featuring fireworks of unprecedented size and duration compared to previous countdowns. This phenomenal display will depict the changing seasons and the beauty of nature through colourful fireworks, as well as lighting effects and pyrotechnics set off from the rooftops of iconic buildings on Hong Kong Island. Join us to usher in 2024 and share the hope and joy of the new year with everyone from all around the world!
More details here. |
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Hong Kong Tennis Open 2024 (Hong Kong)
To be held from 31 December 2023 to 7 January 2024, Hong Kong Tennis Open 2024 marks the return of the ATP Professional Tennis Tour to Hong Kong after 21 years. With a total prize money pool of US$730,000, the event will feature top male international tennis stars from around the globe in eight days of competition, including the rising local star Coleman Wong, World No.41 Mackenzie McDonald, Shang Juncheng, World No.5 Andrey Rublev and 2014 US Open Singles Champion Marin Cilic.
More details here. |
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Asian Financial Forum (Hong Kong)
To be held from 24 to 25 January 2024, the Asian Financial Forum (AFF) is the region’s premier platform that brings together influential leaders from government, finance, and business communities globally for ground-breaking discussions and exchange of insights on the global economy from an Asian perspective. At AFF 2023, over 2 500 in-person visitors and 4 500 virtual attendants from more than 70 countries and regions, along with over 120 exhibitors participated for thought leadership and discussions while witnessing the latest fintech advancements, emerging business strategies, and expanding their professional networks.
More details here. |
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Cathay International Chinese New Year Night Parade (Hong Kong)
This year’s extravaganza will kick off the Year of the Dragon with the theme of “Good Fortune All Around Hong Kong”. Starting from 8pm on 10 February 2024, the dazzling floats and energetic performers will parade through main streets of Tsim Sha Tsui to share abundant luck and joy. But that’s not all! The festivities will start early at 6pm with a lively street performance party, immersing you in the festive spirit of the Chinese New Year. Join us in Hong Kong during Chinese New Year for this world party and feel the pulsating energy of our traditional festivities as we ring in the new year filled with prosperity and success.
More details here. |
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