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Central gold clearing system trial launched

Hong Kong launched (Jul 7) the trial operation of its new central gold clearing and settlement system, alongside a package of measures to build a full-chain gold trading ecosystem and strengthen the city’s position as an international gold trading, clearing and reserve hub. Announced by the Chief Executive at the Hong Kong FIC & Bond Connect Summit, the initiatives included the launch of the initial phase of Delivery Connect with the Shanghai Gold Exchange, a new Hong Kong Gold gold price ticker, plans to expand gold storage capacity to over 2,000 tonnes within three years, diversify gold investment products, explore tax incentives, enhance Mandatory Provident Fund investment flexibility in gold exchange-traded funds, and establish an industry-led trade association. The wholly government-owned Hong Kong Precious Metals Central Clearing Company completed its first gold deposits, trades and settlements on the system during the trial.

Measures unveiled to deepen Hong Kong-Chinese Mainland financial connectivity

The Hong Kong Monetary Authority (HKMA), the People's Bank of China and the Securities and Futures Commission announced (Jul 7) a package of measures to strengthen financial co-operation between Hong Kong and the Chinese Mainland, deepen the city's fixed income and currency (FIC) market, and reinforce its role as the leading offshore renminbi (RMB) hub. The initiatives included supporting the joint development of an electronic FIC trading platform by the China Foreign Exchange Trade System and Hong Kong Exchanges and Clearing, expanding Southbound Bond Connect and Swap Connect, supporting the launch of Five-Year China Government Bond Futures in Hong Kong on August 3, increasing the HKMA's RMB Business Facility from RMB200 billion to RMB500 billion, and introducing measures to enhance offshore RMB liquidity and product development.

Company registrations hit record high

Hong Kong registered 122,481 new local and re-domiciled companies in the first half of 2026, bringing the total number of registered companies to a record of over 1.6 million by the end of June. The number of registered non-Hong Kong companies also reached a record 16,014, after 903 new overseas companies established a place of business in the city during the period. Since the Company Re-domiciliation Regime came into effect in May 2025, 42 companies have successfully re-domiciled to Hong Kong, including two insurers and one listed company. Separately, 406 new limited partnership funds and 79 new open-ended fund companies were registered in the first half of the year.

Hong Kong hosts inaugural Asia Climate Summit

Hong Kong hosted the Asia Climate Summit for the first time on July 8, bringing together policymakers, business leaders, investors and industry experts to discuss the development of carbon markets and market-based climate solutions across Asia. Speaking at the opening ceremony, Financial Services and the Treasury Secretary Christopher Hui highlighted Hong Kong's role as an international green finance hub, citing its US$76 billion in green and sustainable debt issued last year, the development of Core Climate as a regional carbon trading platform, and the city's efforts to strengthen sustainability disclosure and expand cross-boundary green finance collaboration in the Greater Bay Area.

Hong Kong launches sustainability disclosure initiative for financial sector

The Hong Kong Quality Assurance Agency launched (Jul 16) the Initiative for Advancing a Sustainability Disclosure Ecosystem in the Financial Industry to help financial institutions standardise and verify sustainability data in preparation for the adoption of international disclosure standards. Speaking at the launch ceremony, Financial Services and the Treasury Secretary Christopher Hui said the initiative would strengthen Hong Kong's sustainable finance ecosystem and support the city's goal of fully adopting the ISSB Standards by 2028, reinforcing its position as a leading green and sustainable finance hub.

Hong Kong’s AI strategy showcased at World AI Conference

Innovation, Technology and Industry Secretary Sun Dong attended (Jul 17) the 2026 World Artificial Intelligence Conference (WAIC) in Shanghai, which brought together leaders from more than 100 countries and international organisations, where he outlined Hong Kong's strategy to develop artificial intelligence as a core industry and strengthen global AI collaboration. He highlighted the city's growing AI ecosystem, plans to expand computing power through the Sandy Ridge Data Facility Cluster, the upcoming launch of the Hong Kong Artificial Intelligence Research Institute, and the establishment of the Committee on AI+ and Industry Development Strategy. He also met Shanghai officials to discuss closer innovation and technology co-operation between the two cities.

Hong Kong poised to lead the “AI-powered future”

Hong Kong is well-positioned to lead an “AI-powered future”, leveraging its “one country, two systems” advantages and status as bridge between the Chinese Mainland and global markets. Speaking at the South China Morning Post's China Conference (Jul 7), Chief Executive John Lee pointed to Hong Kong's high rankings in economic freedom and competitiveness, noting that 124 strategic enterprises have invested approximately HK$73 billion (US$9.35 billion) and created 25,000 jobs since 2022. He identified the Greater Bay Area cooperation, the Northern Metropolis, and the Hetao innovation zone as key growth engines, alongside AI initiatives such as Cyberport’s Supercomputing Centre, a HK$3 billion (US$384 million) AI subsidy scheme, an upgraded SME digital transformation programme, and the upcoming AI R&D Institute. Mr Lee reaffirmed the government’s commitment to open up new opportunities for global business and talent, with Hong Kong as the trusted gateway and strategic partner.

Hong Kong cinema takes centre stage as NYAFF turns 25

The New York Asian Film Festival (NYAFF), celebrating its 25th anniversary, runs through July 26 across five New York venues. The Hong Kong Panorama film series, supported by the Hong Kong Economic and Trade Office in New York (New York ETO), is a highlight of the festival. At the Opening Weekend Gala on July 11, Director of New York ETO Maisie Ho welcomed acclaimed director Mr Andrew Lau, whose work anchors this year's Filmmaker in Focus series, offering audiences a rare opportunity to explore one of Hong Kong cinema's most influential careers. Following a July 12 screening of INITIAL D, Mr Lau took part in a wide-ranging discussion on his craft, creative innovation and the lasting legacy of landmark films including THE STORM RIDERS, INFERNAL AFFAIRS, INITIAL D and his latest release, THE DUMPLING QUEEN. This year's Hong Kong Panorama also features a record 17 films, showcasing the diversity and creativity of Hong Kong cinema and its enduring appeal to international audiences. Photo credits: Chris Kammerud and @aquaaami /NYAFF

Hong Kong budding musicians showcased at Carnegie Hall

Supported by the New York ETO, the 5th PREMIA International Young Artists Music Festival brought 21 young Hong Kong musicians to perform at the Festival's Prizewinners Gala Concert at Carnegie Hall in New York City on July 15 and 16. For the first time, the Festival has expanded its performance category by including Chinese instruments. The New York ETO also hosted a welcome reception for the delegation on July 14, where Director of New York ETO Maisie Ho commended the young musicians for their dedication, perseverance and artistic excellence, and noted that the festival reflects Hong Kong's role as an East-meets-West centre for international cultural exchange and New York ETO’s commitment to nurturing emerging musical talent.

Dragons awaken: 2026 Hong Kong Dragon Boat Festival countdown begins

The countdown to the 2026 Hong Kong Dragon Boat Festival in New York officially began with the traditional Dragon Boat Awakening (Eye-dotting) Ceremony on July 15. Rooted in centuries-old Chinese tradition, the ceremony symbolises awakening the spirit of the dragon and blessing the dragon boats with prosperity, protection, good fortune and success. Founded by the New York ETO in 1990, the Hong Kong Dragon Boat Festival in New York has grown into one of the largest dragon boat festivals in the United States and one of New York City's premier multicultural events. Speaking at the ceremony, Director of the New York ETO Maisie Ho highlighted the festival's unique role in bringing together tradition, athleticism and cultural exchange. The festival will take place on August 8–9 at Flushing Meadows Corona Park, where more than 180 teams and thousands of paddlers, spectators and visitors are expected to gather for a weekend of racing, culture and community.

International Dragon Boat Federation opens global headquarters in Hong Kong

The International Dragon Boat Federation (IDBF) opened (Jul 8) its new global headquarters in Hong Kong after relocating from London, returning to the city where it was founded 35 years ago. The move supported Hong Kong's ambition to become a world-class sports hub and would strengthen the city's sports economy. The IDBF World Dragon Boat Racing Championships will return to Hong Kong in 2027 for the first time since 1997, attracting more than 5,000 athletes from around the world and reinforcing the city's position as the global hub of dragon boat racing.

Hong Kong welcomes 26.7 million visitors in first half of 2026

Hong Kong received 26.71 million visitors in the first half of 2026, up 13% year on year, including 20.56 million from the Chinese Mainland and 6.16 million from overseas markets. Visitor arrivals in June rose 7% to 3.72 million, with strong growth from long-haul markets including France, Canada and Australia. The city also hosted more than 100 major Meetings, Incentives, Conferences, and Exhibitions tourism events in the first half of the year, while the Hong Kong Tourism Board launched its new global "Only in Hong Kong" campaign to attract more international visitors and encourage longer stays.

Government notes positive shift in US policy on Hong Kong

In light of the lapse of the United States President's Executive Order 13936 concerning Hong Kong, the Hong Kong Special Administrative Region (HKSAR) Government said (Jul 17) that the United States’ decision not to renew the national emergency relating to Hong Kong marks an important step in implementing the consensus reached during China-US economic and trade consultations. It said safeguarding Hong Kong's prosperity and stability serves the common interests of both China and the US and is in line with the expectations of the international community. The Government noted this positive shift in US policy towards Hong Kong and looked upon the US to respect China's sovereignty and the rule of law in the HKSAR, and resume as well as strengthen normal economic and trade exchanges with Hong Kong.

The Basic Law (BL) is the constitutional document of the HKSAR. It provides the guarantees to maintain our existing way of life, including socio-economic development, the rights and duties of Hong Kong people, the rule of law and other areas. The Basic Law was put into effect on July 1, 1997.

Q: Are educational institutions and students in the Hong Kong Special Administrative Region guaranteed academic freedom and educational opportunities from outside the Region?

A: Yes. Educational institutions of all kinds may retain their autonomy and enjoy academic freedom. They may continue to recruit staff and use teaching materials from outside the Hong Kong Special Administrative Region. Schools run by religious organizations may continue to provide religious education, including courses in religion. Students shall enjoy freedom of choice of educational institutions and freedom to pursue their education outside the Hong Kong Special Administrative Region. (BL Article 137)