Events listed in [HKG] Hong Kong Government

Asset Management
information

Innovation and Technology Venture Fund adds one co-investment partner

ID 26576
On December 27, 2023, the Hong Kong Innovation and Technology Commission announced that it has selected a new venture capital fund (VC fund) to participate in the Innovation and Technology Venture Fund (ITVF) program which now makes it a total of 20 VC funds under the program. The ITVF is a $2 billion co-investment fund established by the Government to encourage „Venture Capital investment ...
Asset Management
consultation

Consultation on implementation of global minimum tax and minimum top-up tax in Hong ...

ID 26487
The Hong Kong government or better the Financial Services and the Treasury Bureau and the Inland Revenue Department have launched a joint consultation regarding the adoption of the global minimum tax framework proposed by the OECD, known as BEPS 2.0. The framework aims to address the challenges posed by the digital economy as regards the taxation of income generated across national borders and ensure ...
Asset Management
regulation

United Nations Sanctions (Central African Republic) Regulation 2020 (Amendment) ...

ID 26321
On December 15, 2023, the Hong Kong government published a press release to announce the gazettal of the United Nations Sanctions (Central African Republic) Regulation 2020 (Amendment) Regulation 2023 which came into force on same day. The regulation amends the United Nations Sanctions (Central African Republic) Regulation 2020 „to give effect to certain decisions relating to sanctions in the United Nations Security Council Resolutions ...
Asset Management
procedure

ITIB publishes Policy Statement on Facilitating Data Flow and Safeguarding Data ...

ID 26170
The Hong Kong government has published a press statement to inform that the Innovation, Technology and Industry Bureau (ITIB) has released a Policy Statement on facilitating data flow and safeguarding data security in Hong Kong. The Policy Statement outlines management principles and strategies for data governance in an effort to promote data consolidation, application, opening up, and data sharing while enhancing data security and ...
Asset Management
agreement

Hong Kong signs MoU with Saudi Arabia on investment promotion (with photos/video)

ID 26130
The Hong Kong government has issued a press statement to announce the signing of a memorandum of understanding (MoU) between Invest Hong Kong (InvestHK) and the Ministry of Investment of Saudi Arabia. The aim of the MoU is to foster collaboration between the two government agencies to promote mutual investments in an effort to „bolster bilateral investment flows“ and confidence of investors in both ...
Asset Management
information

HKSAR Government’s response to Moody’s announcement of change to Hong ...

ID 26097
On December 6, 2023, the rating agency Moody’s announced that it will change Hong Kong’s credit outlook from „stable“ to „negative“ while maintaining Hong Kong’s long-term issuer rating at „Aa3“, recognizing the city’s robust credit strengths, fiscal buffers, and significant reserves. In response to this announcement, the spokesman of the Hong Kong government publicly stated his disappointment about the negative outlook. I ...
Asset Management
information

LCQ6: Cross-boundary Wealth Management Connect Scheme in the Guangdong-Hong ...

ID 25993
During a session of the Legislative Council on November 29, 2023, Mr. Christopher Hui, Secretary for Financial Services and the Treasury, provided *answers to a number of questions raised by Parliament members in connection with the announcement of upcoming enhancements to the Wealth Management Connect (WMC)* scheme to expand the list of eligible products that may be traded in the Guangdong-Hong Kong-Macao Greater Bay ...
Asset Management
information

Bill on foreign gains tax passed

ID 25964
On November 28, 2023, the Hong Kong government published a press statement in which it informs and welcomes the passing of the Inland Revenue (Amendment) (Taxation on Foreign-sourced Disposal Gains) Bill 2023 by the Legislative Council. The Bill further refines the foreign-sourced income exemption (FSIE) regime for large Multi-National Entities (MNEs) that has been in place since January 1, 2023. The current regime requires ...
Asset Management
consultation

Public consultation on promoting paperless corporate communication for Hong Kong ...

ID 25943
In an effort to adapt to digitization, reduce burdens of listed and non-listed companies in Hong Kong as regards the dissemination of documents (e.g. financial reports, prospectus), and align with recent changes of the HKEX’s listing rules, the Financial Services and the Treasury Bureau (FSTB) has launched a consultation on proposed amendments to the Companies Ordinance. Specifically, the FSTB seeks to **(1) Implement an ...
Asset Management
information

Payment system alert launched

ID 25933
The Hong Kong government has published a press statement to inform of the launch of the „Faster Payment System (FPS) Suspicious Proxy ID Alert“ to enhance fraud prevention in financial transactions. This Alert is the outcome of a joint collaboration between the Hong Kong Police Force (HKPF) and various financial institutions operating in Hong Kong. The key objective of the Alert is to warn ...
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