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More HZMB private car quotas set

The governments of Hong Kong and Macau have agreed to increase the regular quotas for Hong Kong cross-boundary non-commercial private cars using the Hong Kong-Zhuhai-Macao Bridge to Macau, the Transport Department announced today.   The decision was made to enhance traffic flow between Hong Kong and Macau, better utilising the bridge, the department said.   It will increase the Hong Kong quota by 1,000, following the earlier quota allocation of 1,800 for Hong Kong.   The additional quota will be distributed in two phases from the second quarter.   Half of the additional 1,000 quota allocations is for company applicants and the other half is for individual applicants. The quotas are valid for no more than three years. The eligibility criteria of quota applications remains the same.   Private cars allocated with Hong Kong quotas will be permitted to access the city of Macau multiple times using the bridge.   The Hong Kong quota allotments will be re-allocated upon expiry thro

Euro trade reps briefed

Secretary for Commerce & Economic Development Edward Yau today updated the European Union (EU) trade commissioners and representatives of European chambers of commerce in Hong Kong on the city's business outlook and initiatives related to commerce and trade in the 2021 Policy Address.   At a business breakfast organised by the European Union Office to Hong Kong & Macao today, Mr Yau said that the EU is one of Hong Kong's largest trading partners in goods and services and has established close trade relations with Hong Kong over the years.   He noted that Hong Kong is a free and open economy with a robust legal system and a highly internationalised business environment.   Mr Yau added that being an ideal gateway for business and investment on the Mainland and the Asia Pacific region, Hong Kong will continue to strive to help businesses, both local and international, grasp the tremendous opportunities arising from the development of the Mainland as well as its integration with the region and the global market.   He cited the results of the two latest annual surveys conducted by Invest Hong Kong and the Census & Statistics Department to demonstrate the vibrant business environment of Hong Kong.   The number of business operations in Hong Kong with parent companies overseas or on the Mainland reached 9,049 and the number of startups in Hong Kong was 3,755 in 2021, both reaching record highs.   Mr Yau noted that these figures demonstrate fully that despite the impact of the COVID-19 epidemic, Hong Kong remains an ideal place for companies to set up or expand their businesses, as well as for startups to flourish.   He also pointed out that Hong Kong's trade performance displayed resilience despite the COVID-19 epidemic, with Hong Kong's global ranking in terms of total merchandise trade value rinsing to sixth place last year.   Benefitting from stable supply chains maintained through effective control of the epidemic on the Mainland, the value of Hong Kong's total merchandise trade has rebounded since the fourth quarter of last year and hit a record high of $6.5099 trillion for the first eight months of this year, Mr Yau said.   He also highlighted the support measures for the convention and exhibition (C&E) industry in the Policy Address.   The validity period of the Convention & Exhibition Industry Subsidy Scheme has been extended for six months to the end of 2022. Funds have also been allocated under the scheme to provide one-off immediate relief to eligible private exhibition organisers.   In the long run, the Government will expand C&E facilities.
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