HKETO Newsletter June 2024

Dear friends,

When was the last time you visited Hong Kong? Perhaps now is an opportune time to think about visiting, both for business and leisure.

From the business perspective, you would be pleased to note that Hong Kong’s economy staged a strong recovery in 2023, with a GDP growth of 3.2 per cent. Hong Kong remains to be the welcoming, dynamic and attractive city for businesses and talents seeking development opportunities. The unique advantages and strengths that have made Hong Kong what it is today – a simple and low tax system, alignment with the best international standards, free flow of capital, goods, information and much more – continue to be the core foundation of the city.

In the 2024-25 Budget announced in February, the Financial Secretary presented a wide array of measures to attract global talent, enterprises and mega events to the city, responding constructively to the changing economic conditions. These initiatives give assurance that the Hong Kong Government would continue to provide impetus to our economy and high-quality development of the city, as well as support the city’s role as the East-meets-West centre for international cultural exchange. You can read more about the highlights of the Budget at the article here.

Beyond business, there had been a lot of exciting mega cultural and sports events in Hong Kong in the past six months, including the Art Basel, Hong Kong Rugby Sevens, Hong Kong International Dragon Boat Races and so on. There is also boundless pleasure from the cultural co-operation and exchange between performers from Hong Kong and the European audiences. Our office, for instance, supported a number of Hong Kong arts groups, including Hong Kong Philharmonic, Musicus Soloists Hong Kong, Tang Shu Wing Theatre Studio and Zuni, to make their way to Europe. We also continue to sponsor the screening of exceptional award-winning Hong Kong films, including “All Shall Be Well” (the Teddy Award for Best Feature Film at the 74th Berlinale), at different film festivals held in the region.

Many of you who have connected with us on social media may already have a taste of the news and updated developments in Hong Kong above. If you have not done so, do not forget to follow us on LinkedIn and Facebook.

Enjoy reading,

Jenny Szeto
Director, Hong Kong Economic and Trade Office, Berlin

2024-25 Budget: Advance with Confidence, Seize Opportunities, Strive for High-quality Development The Financial Secretary, Mr Paul Chan, delivered the 2024-25 Budget on 28 February 2024 and announced a series of measures, aiming to promote high-quality economic development amid the complicated and ever-changing international environment. READ ARTICLE

Officials from Hong Kong on Visits to Germany and Switzerland The 53rdThe Financial Secretary, Mr Paul Chan (left), met with the Founder and Executive Chairman of the World Economic Forum (WEF), Professor Klaus Schwab (right) in Davos, Switzerland on 18 January 2024. READ ARTICLE

Business Outreach in Europe This year is the Year of the Dragon, which signifies strength and resilience. HKETO Berlin celebrated the beginning of the Year of the Dragon together with friends and partners of the eight countries under our office’s purview. Eight receptions were held in Warsaw (6 February), Berlin (13 February), Ljubljana (16 February), Bratislava (20 February), Prague (21 February), Zurich (27 February), Budapest (28 February) and Vienna (6 March), bringing together more than 1 200 guests from government, political, business and cultural sectors. READ ARTICLE

Culture Promotion Hong Kong is an East-meets-West centre for international cultural exchange. One of its most outstanding assets is its filmmaking, with many of our film professionals winning numerous accolades. HKETO Berlin aspires to bring some of the best film highlights, as well as arts performances to the Central and Eastern European audiences. READ ARTICLE