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Hong Kong News

Hong Kong ups game with exciting new multi-purpose sports park

The grand opening of Kai Tak Sports Park (KTSP) marks the beginning of a new era for Hong Kong as Asia’s events capital.

Speaking at the opening ceremony on March 1 at the magnificent new Kai Tak Stadium with a seating capacity of 50,000, John Lee, Chief Executive of the Hong Kong Special Administrative Region hailed the venue as the largest sports, entertainment and mega event complex in Hong Kong’s history.

“The magnificent, multi-purpose Kai Tak Sports Park is a grand stage offering the most enjoyable experience for sports and recreation, entertainment and a whole lot more. Our new home ground will raise every game, on every match!” Mr Lee said. “And you can count on scores of concerts by top singers and bands from home and abroad, here to raise the roof of Kai Tak Stadium.”

Starting with a thunderous drum roll and traditional lion dance, the two-hour show featured performances by top local singers spanning different genres and generations as well as appearances by renowned celebrities and sports stars from Hong Kong and Mainland China.

The 28-hectare KTSP will boost sports development and inject impetus into related industries such as recreation, entertainment and tourism, and also the mega-event economy, thereby consolidating Hong Kong’s reputation as an events capital in Asia.

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Hong Kong ups game with exciting new multi-purpose sports park

Relations between Hong Kong and Hawaii strengthened

o promote Hawaii-Hong Kong trade, especially on Hong Kong’s vast import potential for food, beverages and liquor, the Hong Kong Economic and Trade Office in San Francisco (HKETO San Francisco) participated in the “Lunch and Learn” seminar organized by the Hong Kong Business Association of Hawaii (HKBAH) in Honolulu on March 3.

The Acting Director of HKETO San Francisco, Ms Iris Wong, gave an overview of Hong Kong’s free trade policies and the opportunities available to US exporters. She pointed out that the city has minimal barriers to trade and is a longstanding supporter of multi-lateral rules-based system, including being a founding member of the World Trade Organization. She mentioned that one of the latest government policies to facilitate the trade in spirits was the recent reduction in liquor duty, which is set to boost the status of Hong Kong as a regional spirits hub. The Hong Kong Wine & Dine Festival, an annual mega feast on epicurean delights, was also introduced.

Ms Wong also attended the Spring Festival and Annual Celebration Gala of HKBAH on March 2, where she briefly addressed the audience. The event was filled with festivities, including fai-chun calligraphy, hanfu dress-up, lion dance, and a traditional Chinese music performance.

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8 reasons Hong Kong is an incredible place to work, live and study

Since the launch of the Top Talent Pass Scheme in December 2022 to attract talent with high earnings and graduates from the world’s top universities to live and work in Hong Kong, a total of 49,737 visas were approved under this initiative in 2023, with 11,686 granted to individuals who had earned no less than US$320,000 in the preceding year. As of last September, the corresponding figures were 30,851 visas and 9,225 individuals.

So far, the approved applicants work mainly in financial services, innovation and technology, and commerce and trade. So what key factors are helping to entice these highly skilled professionals to come to Hong Kong to work and live?

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8 reasons Hong Kong is an incredible place to work, live and study

Exchange between Hong Kong and Austin enhanced

To connect with innovative companies and to share information about Hong Kong’s dynamic business landscape, the Hong Kong Economic and Trade Office in San Francisco (HKETO San Francisco) gained a presence in Austin, TX, during the 2025 SXSW Conference and Festivals week (March 7-15), an annual event converging film, music, education and culture.

Speaking at the Asia x Austin International Market Summit organized by the Greater Austin Asian Chamber of Commerce on March 11, Acting Director of HKETO San Francisco, Ms Iris Wong, highlighted Hong Kong’s strategic advantages—a world-class business hub that meets global standards in business environment and professional services, with a unique position as a gateway to the Greater Bay Area of the Mainland China and ASEAN markets. The event was packed with invaluable discussions featuring government and business leaders from Austin and across Asia.

Beyond business, Hong Kong is also spotlighted at the Asian Pop-Culture Networking Afterparty, in which Asian talents celebrated together through live performances and an extravagant pop culture game show hosted by Asian American pop culture expert Jeff Yang.

Hong Kong wins 300 international innovation prizes

Hong Kong teams participating in the 50th International Exhibition of Inventions of Geneva won about 300 prizes, including two Grand Awards, seven Special Awards, about 55 Gold Medals with Congratulations of Jury and about 80 Gold Medals.

In particular, the Prize of the Republic & Canton of Geneva, one of the Grand Awards, went to the “Two-Phase Immersion Cooling System for High Performance Computer Workstation” jointly developed by the Civil Aviation Department (CAD) and the Electrical & Mechanical Services Department (EMSD). This prize represents a governmental level of honor and recognition, marking the first time for departments of the Hong Kong Special Administrative Region Government to receive this prestigious award.

The CAD-EMSD innovation provides a highly efficient heat dissipation capability for the CAD’s high-performance air traffic control tower simulator by immersing heat-generating computer components into a sealed container filled with a non-conductive cooling liquid. Heat dissipation is achieved through the vaporization of the cooling liquid, providing a more efficient energy saving system with an extended equipment life time compared with traditional air cooling.

Meanwhile, the Hong Kong Police Force’s “Scameter Series” won another Gold Award named the International Press Prize.

The Tracking Solution for Outdoor Activity Safety, also jointly developed by CAD and EMSD, won the Gold Medal with Congratulations of Jury prize at the exhibition.

Furthermore, local public research and development (R&D) institutes, including the Productivity Council, the Nano & Advanced Materials Institute as well as the Logistics & Supply Chain MultiTech R&D Centre, also achieved outstanding results at the Edison Awards 2025, winning a total of four Gold Awards and three Silver Awards.

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Key Economic Indicators

  • The value of total retail sales in Oct, provisionally estimated at US$3.9 billion, grew 12% year-on-year, as the entrenched economic recovery and disbursement of the second batch of electronic consumption vouchers enhanced consumption sentiment.
  • In the third quarter of 2021, total port cargo throughput decreased by 12.4% year-on-year to 55.5 million tonnes. During the same period, the port of Hong Kong handled 4.64 million TEUs of containers, representing a year-on-year decrease of 1.2%.
  • Total assets of the Exchange Fund amounted to US$593.2 billion as at Oct 31. This is US$12.1 billion higher than that at the end of Sep. Foreign currency assets increased by US$11.6 billion and Hong Kong dollar assets increased by US$448 million.
  • Expenditure for the Apr – Oct 2021 period amounted to US$47.1 billion and revenue US$32.8 billion, resulting in a cumulative year-to-date deficit of US$14.3 billion. Hong Kong’s fiscal reserves stood at US$104.6 billion as at Oct 31. 

Promoting intellectual property trading

Hong Kong will capitalize on the support of the National 14th Five-Year Plan in developing into a regional intellectual property (IP) trading center, said Chief Executive Carrie Lam at the opening session of the Business of Intellectual Property Asia Forum (Dec 2). The HKSAR Government will implement a series of initiatives to promote IP trading, including further promoting and developing the “original grant patent” system, exploring with the Mainland authorities on broadening the scope of application of the Patent Cooperation Treaty to cover the “original grant patent” system, and extending other major international IP treaties to Hong Kong. Hong Kong will also strengthen its IP system and industry talent, while boosting IP promotion and collaboration beyond Hong Kong.

Exhibition grant extended

The Government announced today that the Convention & Exhibition Industry Subsidy Scheme will be extended for six months to June 30, 2022.

The extension will benefit more convention and exhibition activities and enhance the confidence of event organisers in staging activities in Hong Kong.

Established with a commitment of $1.02 billion, the scheme consists of two parts. One part provides organisers with a full subsidy for the venue rental of exhibitions and international conventions at the Hong Kong Convention & Exhibition Centre and AsiaWorld-Expo starting from October 3, 2020.

The other part of the scheme subsidises exhibitors and major conference participants 50% of the participation fee at events organised by the Trade Development Council starting from November 30, 2020.

As at May 31, it had subsidised 31 exhibitions, involving a total subsidy of about $61 million.

CS highlights HK’s unique strengths

Chief Secretary Matthew Cheung today introduced Hong Kong’s strong fundamentals and unique advantages under “one country, two systems” to more than 200 people from the business community in Association of Southeast Asian Nations (ASEAN) member states.

The Reconnect: Hong Kong – ASEAN Partnership webinar updated participants on the latest social and economic developments in Hong Kong, and the opportunities and benefits presented to enterprises in ASEAN.

Mr Cheung noted that ASEAN has been Hong Kong’s second largest trading partner for 10 years in a row since 2010. The Free Trade Agreement and the Investment Agreement, which both came into full force in February, also reflect the significant economic connections between both sides.

The Chief Secretary expressed his confidence in Hong Kong’s future development, pointing out that the two significant decisions of the National People’s Congress on national security legislation and improving Hong Kong’s electoral system have put Hong Kong back on the right track and ensured its long-term stability and prosperity.

He emphasised that with the full support of the Central People’s Government as stated in the 14th Five-Year Plan, investors from ASEAN will be able to benefit from Hong Kong’s unlimited development potential.

He invited the ASEAN business community to tap into the enormous opportunities and strengthen its business ties with Hong Kong.

Mr Cheung also spoke with participants on Hong Kong’s experience and strategy in fighting the COVID-19 pandemic.

Addressing questions from participants, Mr Cheung said Hong Kong has a keen interest in joining the Regional Comprehensive Economic Partnership at the earliest appropriate time.

Given its unique advantages, Hong Kong’s accession to the partnership will further deepen regional economic integration and co-operation for the prosperity of the region, he added.

The webinar was organised by the three Hong Kong Economic & Trade Offices in ASEAN, located in Bangkok, Jakarta and Singapore, together with the Hong Kong Trade Development Council and the Thai-Hong Kong Trade Association.

Helpers urged to get vaccinated

The Labour Department today said it conducted operations at popular foreign domestic helper (FDH) gathering places on June 13 and 14 to remind them to comply with social distancing measures and urged them to get vaccinated against COVID-19.

The operations were jointly conducted with Police, the Home Affairs Department and the Leisure & Cultural Services Department, covering places including Tamar Park in Admiralty, Victoria Park in Causeway Bay, Central and Lai Chi Kok Park.

During the same period, the Labour Department also conducted inspections in these places to check whether the helpers had complied with the compulsory testing notice.

As at 3pm today, a total of 2,268 helpers were checked and the majority of them had complied with the compulsory testing notice. A compulsory testing order was issued for the 20 who did not comply with the notice.

There were 46 helpers whose testing or vaccination records required further verification and the department will follow up.

In view of the threat posed by the mutant strain, the Government appeals to all FDHs to get vaccinated to protect their own health and the health of their employers’ families and others.

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