img

All posts by hkascAdmin

Opportunities for tech enterprises

 

 

 

 

 

 

 

 

 

 

 

 

Secretary for Innovation and Technology Nicholas W Yang, spoke on the opportunities presented by Hong Kong’s participation in developing the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) into an international innovation and technology (I&T) hub at a leadership luncheon held in San Francisco (Sep 18) on “Bay-to-Bay” connection and Hong Kong’s technology development. He encouraged US technology enterprises to leverage on the opportunities brought about by the GBA development to achieve a win-win outcome. During his stay in San Francisco (Sep 17-18), Mr Yang visited the Google campus and discussed with its senior management Google Hong Kong’s Smarter Digital City 3.0 white paper. He also paid a visit to Johnson & Johnson (J&J) Innovation’s JLABS to learn more about its incubation program in accelerating healthcare innovation.Mr Yang encouraged J&J to strengthen collaboration with universities in Hong Kong and take part in the Health@InnoHK initiative focusing on healthcare technologies.

 

Source: Hong Kong Economic and Trade Office, New York.

For daily updates, please click here.

Hong Kong’s unique status and strengths highlighted

 

 

 

 

 

 

 

 

 

 

Secretary for Commerce and Economic Development Edward Yau highlighted Hong Kong’s unique status and strengths which make it the best partner in Asia for US businesses to expand operations, build networks, meet great people and explore collaboration with different communities. Speaking at the “Think Asia, Think Hong Kong” Gala Dinner in Los Angeles (Sep 19), Mr Yau said the city’s advanced financial services industry and infrastructure, a unique separate customs territory status and trade autonomy conferred upon Hong Kong by the Basic Law, under the framework of “one country, two systems”. The US was Hong Kong’s second largest trading partner and market for exports in 2018, with bilateral merchandise trade amounting to US$75 billion. Hong Kong and the US enjoy mutually beneficial and expanding strong trade connections. The US consistently has the highest trade surplus with Hong Kong, at US$33.8 billion in 2018, and an aggregate merchandise trade surplus with Hong Kong amounting to US$297 billion from 2009 to 2018. Bilateral ties extend beyond trade and economic relations to encompass people-to-people contacts, educational exchanges, sports and cultural events, innovation and technology development and government-to-government co-operation.

 

Source: Hong Kong Economic and Trade Office, New York.

For daily updates, please click here

August retail sales fall 23%

The value of total retail sales in August, provisionally estimated at US$3.7 billion, fell 23% year-on-year. The plunge reflected the weak consumer sentiment amid subdued economic conditions, and the severe disruptions to inbound tourism and consumption-related activities caused by the local social incidents.The Government said retail sales had registered the steepest year-on-year decline for a single month on record, even worse than that recorded in September 1998 during the Asian Financial Crisis. The Government will closely monitor the situation and the implications for the labor market and the economy.

 

Source: Hong Kong Economic and Trade Office, New York.

For daily updates, please click here.

Policy objectives to restore calm and boost economy

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hong Kong Chief Executive Carrie Lam set out core principles and strategies for overcoming the social and economic challenges facing Hong Kong in her Policy Address (Oct 16), themed “Treasure Hong Kong: Our Home”. The principles for handling the current crisis and discharging governance responsibilities included adhering to the “one country, two systems” principle; safeguarding the rights and freedoms protected by the Basic Law; upholding the rule of law, which is a core value of paramount importance to Hong Kong; and protecting the city’s institutional strengths. She also unveiled more than 220 new initiatives that aimed at helping local businesses overcome hurdles during the economic downturn and that targeted the unresolved disputes and ongoing violence with a view to restoring social calm and embarking on the road to reconciliation.

 

Source: Hong Kong Economic and Trade Office, New York.

For daily updates, please click here.

Financial markets operating normally

The Hong Kong Monetary Authority (HKMA) reiterated (Oct 10) that the invocation of the Emergency Regulations Ordinance does not affect the normal operation of Hong Kong’s banking sector or financial markets. Banking services are largely normal, except for service disruptions caused by vandalized branches and ATMs where immediate and full restoration of services was not possible. The city’s banking system is very robust and sound, with average capital adequacy ratio of 20%. The Hong Kong Dollar exchange rate has remained stable throughout the recent social disruptions. The HKMA and the HKSAR Government have an unwavering commitment and ample resources to defend the Linked Exchange Rate System when needed.

 

Source: Hong Kong Economic and Trade Office, New York.

For daily updates, please click here.

Labor Relations Specialist, LLC

Labor Relations Specialist, LLC. (LRS) is a management consulting firm providing consulting, training and coaching services to the United States, Canada, Mexico, Puerto Rico and Hong Kong. Known to have more cultural diversity knowledge than any others, LRS consultants are all registered and certified in different areas of expertise, bilingual and trilingual and combined speaking more than 11 languages.

 

LRS major services include:

– RC & RD cases under the NLRB & ALRA (winning statistics: 97% on RC & 100% on RD)

– Strike Management Preparations

– Management training and coaching

– Employee Engagement Evaluations

– 360 Feedback/Assessments

– Human Resources Audits

– CSR Strategies

Millennium Biltmore Hotel Los Angeles

As the most iconic downtown LA hotel, Millennium Biltmore has been the Hollywood backdrop for movies and television shows, and hosted celebrities, dignitaries, presidents and eight Oscars. Striking architecture and historic interiors, plus an ideal downtown location are what make us the choice for corporate and social events as well as for business and leisure travelers. The hotel has 70,000 square feet of flexible event space with five grand ballrooms. Guests enjoy classic-contemporary rooms with modern conveniences and comfort. Casual dining choices showcase Smeraldi’s for breakfast and lunch, The Biltmore Afternoon Tea at Rendezvous Court, and specialty coffees with light bites at Rendezvous Court Cafe. The Gallery Bar is a historic and elegant L.A. hotspot.

Spyder Auto Group

Spyder Auto has been serving the automotive industry for over a decade. Using only the highest quality parts and components our products are guaranteed to satisfy every automotive aficionado. Providing both an aesthetic and functionality upgrade over your OEM products.  All of our products use OEM certified material and are DOT and SAE compliant.

The John Ellis Company

The John Ellis Company, a boutique CPA/Consultancy firm with offices in Long Beach and Los Angeles with a subsidiary in Hong Kong, The John Ellis Company of Hong Kong LTD. We provide a wide range of consulting, accounting and tax services in two practice areas.

One is to domestic and foreign small to mid-size companies. This practice area comprises small start up to large middle market companies which are in the continental United States and international. What set us apart is we focus on the international marketplace, bringing scalable Fortune 500 best practices to the company. The services we provide are in Income Tax, Sales Tax and accounting.

The other practice area is Tax Debt Relief. There are millions of frustrated taxpayers who owe the IRS or state back taxes. Many are not tax cheats, but good people or business to whom bad things happen. Or they just made some bad mistakes. Whatever the reason we can help to get your life back. Tax Resolution is a series of programs or procedure authorized by congress to bring justice to an unjust system; by giving Taxpayers a second chance. It is not a way to avoid paying taxes, but a second chance.

The president and founder, John Ellis, is the recipient of the “Top Practitioner” award from the ASTPS and received letters of commendation from the SEC and the State of Ohio. Instances of my professional successes have been in articles in local newspapers in California and Ohio as well as the Wall Street Journal and Accounting Today.

CDM Software Solutions, Inc.

Supply Chain Technology solution provider specializing in U.S. Customs AES, Sea AMS (24 Rule), ISF (10+2), Canada ACI, Japan AHR, EU ICS, United Kingdom CDS, Shipment Visibility, Commodity Level Shipment Tracking, High Volatile Commodity Tracking, Reverse Logistics, Contract Management, Freight Forwarding Operations, GPS, RFID, IOT; our software solutions integrate to all major ERP platforms.

Website Sponsors