Foreign Direct Investment Rises Significantly to $160 Billion Hong Kong has seen a significant increase in foreign direct investment in recent years, with over 1,300 overseas and Mainland companies establishing or expanding operations in the city between January 2023 and mid-2025. This has contributed approximately $160 billion to the local economy and generated over 19,000…
Industrialisation Scheme Improved to Speed Up Smart Manufacturing Funding The Innovation & Technology Commission has introduced updated procedures for the New Industrialisation Funding Scheme (NIFS), designed to reduce approval timelines. Applicants requesting no more than $2.8 million will benefit from the new fast-track system. Supporting Smart Manufacturing The overhaul aims to support companies adopting smart production…
Hong Kong Competitiveness Leaps Into Top Three Amid Efficiency Gains Hong Kong competitiveness has surged, with the city now ranking third in the latest international index. This leap marks a return to the top three since 2019. Hong Kong’s score rose by 7.7 points to 99.2 out of 100 in the last year, also making…
Hong Kong Among the First to Target Full ISSB Adoption for IFRS Sustainability Hong Kong has targeted full adoption of the ISSB Standards. This IFRS sustainability commitment has been highlighted by the city as proof of its dedication to providing transparent sustainability information within capital markets. Through its jurisdictional profile, the IFRS Foundation recognises Hong Kong’s public…
International Jobseekers Explore 700+ Openings at Hong Kong Online Career Fair Hong Kong recently hosted a two-day online job fair to attract international professionals from several fields. The fair offered more than 700 vacancies across various sectors, including accounting, finance, consultancy, legal compliance, and engineering. The event, organised by Hong Kong Talent Engage (HKTE), recorded…
In a comprehensive strategy unveiled on 26 February 2025, Financial Secretary Paul Chan detailed several government initiatives for international top talent acquisition and retention across various sectors. These measures target working professionals, investors, and students in multiple industries. Enhanced Admission Schemes To address manpower shortages in skilled trades, the government plans to improve the Admission…
Hong Kong’s Cultural and Creative Industries to Receive Financial and Other Support from the Government Hong Kong has announced several initiatives for the development of tourism in the region. The initiatives, mentioned in the budget speech, have been aimed towards the cultural and creative industries. Support for Local SMEs The first initiative is the funding…
Hong Kong Economy Grows 2.4% in 2024 Hong Kong’s economy expanded by 2.4% in 2024. External demand and an increase in visitor arrivals contributed to the growth, as did a rebound in cross-border business activities. Private consumption declined slightly, falling 0.2% in the last quarter and 0.6% for the year. The fixed capital investment also…
ISRE 2.0 Launched to Help International Exhibition Organizers The Commerce & Economic Development Bureau of Hong Kong has unveiled the Incentive Scheme for Recurrent Exhibitions (ISRE) 2.0. This initiative, outlined in the 2024 Policy Address, provides an additional $500 million in funding in addition to the initial $1.4 billion on ISRE that was created in…
More local and foreign businesses will establish their base in Hong Kong in 2024 As Hong Kong sees considerable growth in the number of local and foreign businesses, the city retains its status as a global business hub more than ever. According to the most recent data from Invest Hong Kong (InvestHK), in 2024, the…
