Latest from Hong Kong
Asian Financial Forum gathers global financial and business leaders to discuss new engines for growth
The 18th Asian Financial Forum (AFF) was successfully held on 13-14 January, where heavyweight speakers from around the world shed light on the latest developments in global financial markets and investment opportunities.  With the theme of “Powering the Next Growth Engine”, the forum explored ways to achieve breakthroughs in a time of change.  The two-day forum attracted about 3 600 participants from around 50 countries or regions.  Some 130 elite speakers, including government officials, representatives from central banks and regulatory bodies, financial and business leaders, scholars and economists, discussed global economic and financial development, growth potential of emerging markets like ASEAN and the Middle East, and advancements in new financial areas such as artificial intelligence (AI), fintech, sustainable development, family offices and philanthropy.  The Chief Executive of the Hong Kong Special Administrative Region (HKSAR), Mr John Lee, highlighted Hong Kong’s status as an international financial centre when addressing the opening session and remarked that Hong Kong is poised to power its next growth engine and contribute to the region’s overall development.

More details on AFF here.

See the Chief Executive’s speech here.
     
IMF recognises Hong Kong’s position as international financial centre and fiscal consolidation path
Following the completion of the 2024 Article IV Consultation with the HKSAR, the International Monetary Fund Staff Mission published its assessment on the Concluding Statement on 10 January.  The Mission notes that Hong Kong’s economy is on a path of gradual recovery, albeit facing multiple headwinds.  It reaffirms Hong Kong’s status and function as an international financial centre and recognises that Hong Kong’s financial system remains resilient, supported by robust institutional frameworks, ample room for policy buffers, and smooth functioning of the Linked Exchange Rate System.  The Financial Secretary, Mr Paul Chan, welcomed the Mission’s recognition of the steady economic recovery of Hong Kong.  The Government will continue to reinforce and enhance Hong Kong’s position as an international financial centre, and give full play to our unique function of connecting with both the Mainland and the world under the “one country, two systems” arrangement.

More details here.
     
Enhancement measures for New Capital Investment Entrant Scheme
The Chief Executive’s 2024 Policy Address announced enhancements to the New Capital Investment Entrant Scheme (New CIES) to further strengthen Hong Kong’s status as an international asset and wealth management centre.  The Financial Services and the Treasury Bureau and Invest Hong Kong (InvestHK) announced on 7 January the details of various enhancement measures for the New CIES, to take effect from 1 March.  The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said that the New CIES has attracted high-net-worth individuals, business elites and innovative entrepreneurs.  The enhancement measures announced have not only relaxed the net asset assessment and calculation requirements but also allowed investments made through an eligible private company wholly owned by an applicant to be counted towards the eligible investment.

Details of the enhancement measures and the status of applications under the New CIES here.
     
InvestHK reaches record high numbers in 2024 in foreign direct investment
InvestHK announced on 20 January that the department achieved a record-breaking year for foreign direct investment (FDI) in 2024, assisting 539 overseas and Mainland companies to set up or expand their business in Hong Kong.  This represents a 41 per cent increase compared to 2023, reflecting the strong appeal of Hong Kong as a leading business hub in the region.  The strong FDI performance was driven by investment across diverse and high-value industries and it is estimated that the total investment thereby brought to Hong Kong’s economy has reached over HK$67.7 billion, which also represents a record high and a nearly 10 per cent increase compared to 2023.  These companies are expected to create 6 864 job opportunities in Hong Kong during their first year of operation, an over 67 per cent increase compared to 2023.  The Director-General of Investment Promotion, Ms Alpha Lau, said that the results in 2024 reflect overseas and Mainland enterprises are having full confidence in Hong Kong, selecting the city as their base to expand regional businesses in Asia to capture the unique opportunities brought by Hong Kong as a “super connector” and a “super value-adder”.

More details here.
     
New Zealand-based information technology solutions provider opens regional office in Hong Kong
InvestHK announced on 8 January that New Zealand-based information technology solutions provider, OptimaTech, has officially opened its regional office in Hong Kong, leveraging the city’s strategic location as the base to expand in the region.  Associate Director-General of Investment Promotion Mr Charles Ng congratulated OptimaTech on the opening of its regional office in Hong Kong and said that Hong Kong, as a premier business hub in Asia, has rigorous protection of intellectual property and tech-savvy consumers.  It provides an excellent base for technology solution businesses to flourish.  Hong Kong is the perfect sandbox where innovative companies can adopt and test tailor-made solutions before their product launch in the local and global markets.

More details here.
     
HKETO events
Hong Kong Life Planning Association visited Hong Kong House
HKETO Sydney received the delegation of Australia Exchange and Experience Programme organised by the Hong Kong Life Planning Association at Hong Kong House on 6 January.  The Deputy Director of HKETO Sydney, Mr Timothy Chau, gave the students an introduction on the work of HKETO, including the past and upcoming events, as well as its work on investment promotion and talent attraction.  Mr Chau said that HKETO aims to promote Hong Kong in Australia and New Zealand and develop collaborative relationships between Hong Kong and the two countries.  The delegation also had a tour in Hong Kong House to learn about the history of the building.
     
Upcoming events
 
  2025 Lunar New Year Concert with Hong Kong String Orchestra (Australia)
The internationally acclaimed Hong Kong String Orchestra will make its highly anticipated Australian debut to welcome the Year of the Snake with an unforgettable celebration of music.  Audience can immerse themselves in nostalgic Hong Kong melodies from the 1990s, featuring hits like Blossoms Shanghai, capturing the charm and energy of Hong Kong’s vibrant pop culture.

Performance dates and venues:

31 January, Adelaide - Her Majesty’s Theatre

2 February, Sydney - Sydney Opera House

5 February, Canberra - Canberra Theatre Centre

7 February, Melbourne - Melbourne Recital Centre

Don’t miss this opportunity! Secure your tickets here.
 
     
  Museum Summit 2025 (Hong Kong)
The Leisure and Cultural Services Department of the Government of the HKSAR is staging Museum Summit from 28 to 29 March 2025.  The aim of the event is to establish a platform for the global community to engage in collaborative dialogue, exchange expert experience and explore innovative solutions to the evolving challenges and opportunities facing museums worldwide in the 21st century.  Museum Summit 2025 will bring together international museum professionals and cultural leaders to explore how museums leverage tourism industry and technological advancements, foster sustainability practices, as well as cultivate well-being in the community as part of the strategies to venture into the uncharted territories of the future beyond the confines of traditional approaches.

More details here.
 
     
  Hong Kong Sevens (Hong Kong)
Be among the first to experience the gold standard of sports venues at our state-of-the-art stadium: Kai Tak Sports Park.  Strap in for a weekend from 28 to 30 March at the legendary Hong Kong Rugby Sevens.  Dive into three epic days of non-stop rugby action, top-tier entertainment, and an electrifying atmosphere that turns strangers into friends and fans into family.

More details here.
 
     
   
  Tender notifications  
 
Hong Kong where the world looks ahead
 
Updates on Latest Situation in Hong Kong
HKETO Sydney website Find us on FacebookLinkedin Find us on Facebook