Latest news about business, commerce and government policy. Government business grants such as BUD Fund, TVP Fund etc change rapidly in recent years.
Yesterday (2nd Sep) the Hong Kong Police Force arrested 15 persons, on suspicion of anti-epidemic fund fraud, seeking around HK$ 3.87 million. Suspects accused of submitting false proof, such as MPF records, transaction records, or altered retail photos downloaded from the Internet, to seek more government funding grant. This is another commercial crime case about … Read more
Due to the US national security and the worry of American user information theft by China, the US Department of Justice advised the Federal Communications Commission (FCC) to abandon a plan of building trans-Pacific undersea cable to Hong Kong by Google and Facebook. The advice was on 17th June this year, and it also advised … Read more
Last week, the Statistics and Census Service of Government of Macao SAR announced that the GDP of Macau in 2020 Q2 reduced by 67.8% year-on-year. Though Macau has exercised effective precaution to stop COVID-19 spread, the extreme measures also halted casinos running which highly rely on Chinese tourists. As we know, the gambling industry is … Read more
According to the official TVP website announcement, the “related entities” restriction is relaxed from 2020/08/14. Now, different companies with the same ultimate natural person holding more than 30% shares will NOT be considered as ONE single entity. These companies have independent cumulative subsidy pool. In other words, suppose you own more than 30% of Alpha … Read more
Mr Mohamed D. Butt, the executive director of Hong Kong Productivity Council, mentioned in an event that the BUD Fund grant increased by 12% in the first half of 2020, compared to the same period in 2019. It showed that Hong Kong companies know more how to use government fund in markets outside Hong Kong. … Read more
In the 21st meeting, the Standing Committee of the 13th National People’s Congress decided to authorize the State Council to execute a pilot programme in the nine Greater Bay Area (GBA) mainland cities (Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, Zhongshan, Jiangmen, Huizhou, and Zhaoqing). The programme allows Hong Kong and Macau lawyers to practice in specific … Read more
Yesterday (2020/08/07), the US Treasury announced to impose sanctions on China and Hong Kong 11 officials who harm Hong Kong autonomy and human rights.These major officers include the Chief Executive Carrie Lam, the Secretary of Justice Teresa Cheng, the Commissioner of Police PK Tang etc. All Americans and American companies cannot deal with the sanctioned … Read more
From today (1st Aug, 2020), BUD Fund application is available online only. Submission by post, by e-mail or in person would not be accepted. Enterprises can submit the application via BUD Secretariat website: https://apply.bud.hkpc.org/ The above information is provided by BUD Consultant BizMagnet.
The Chief Executive of Hong Kong SAR Carrie Lam announced yesterday (31st Jul) that the coming Legco election will be postponed, from 6th Sep 2020 to 5th Sep 2021, by the Emergency Regulations Ordinance. The CE said the hard decision is purely based on the current COVID-19 pandemic to protect Hong Kong public health. Nevertheless, … Read more
HSBC Navigator surveyed more than 200 Hong Kong businesses from 28th April to 12th May pandemic time. Around 60% of the surveyed enterprises claimed that they were well-prepared but can do more. Business needs more diversity, information technology and transparency in the supply chains to face possible challenges in the future. Diversity & technology Terence … Read more
