As we step into the new year, the Hong Kong Government unveiled its ambitious 132-page Development Blueprint for Hong Kong's Tourism Industry 2.0. This comprehensive plan aims to overcome the current challenges posed by...more
The Policy Address 2024 of Hong Kong was delivered by the Chief Executive on 16 October 2024 (the “Policy Address”). Among a series of reforms aimed at rejuvenating the city’s economy and enhancing residents’ livelihood, the...more
The new Extension of Government Leases Ordinance (the “Ordinance”) will take effect this Friday, 5 July 2024. In consideration of the significant number of owners affected by the expiration of Government leases from 2025...more
In Hong Kong SAR and in Mainland China, we have observed an increase in the relative bargaining power of office tenants to negotiate their leases. A variety of factors, including a stronger supply of new office buildings and...more
On 13 December 2023, the Innovation, Technology and Industry Bureau (ITIB) and the Cyberspace Administration of China (CAC) issued the “Standard Contract for the Cross-boundary Flow of Personal Information Within the...more
On 28 February 2024, Paul Chan, the Financial Secretary of Hong Kong, delivered the 2024-25 Budget (the “Budget”). Starting off by acknowledging the “challenging external environment” including “heightened geopolitical...more
2/29/2024
/ Affordable Housing ,
Climate Change ,
Economic Growth ,
Electric Vehicles ,
Federal Budget ,
FinTech ,
Green Finance ,
Green Initiatives ,
Green Technology ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Housing Developers ,
Housing Market ,
Interest Rates ,
Investment Funds ,
Mortgage REITS ,
Mortgages ,
Public Land ,
Regulatory Agenda ,
Residential Real Estate Market ,
Stamp Duty Land Tax ,
Technology
The Policy Address 2023 was delivered by the Hong Kong SAR Chief Executive, John Lee (“CE”) on 25 October 2023. In addition to some expected initiatives to further promote the principle of “One Country, Two Systems” and...more
10/25/2023
/ Hong Kong ,
Housing Market ,
National Security ,
Policy Statement ,
Public Safety ,
Residential Real Estate Market ,
Scholarships ,
Stamp Duty Land Tax ,
Tourism ,
Urban Planning & Development ,
Visas
On 22 February 2023, Paul Chan, the Financial Secretary of Hong Kong, delivered the 2023-24 Budget (the “Budget”). Starting off by acknowledging the severe external environment, Chan went on to forecast that the Hong Kong...more
Leases which contain provisions on sustainable obligations for landlords and tenants are becoming more commonplace in various markets. In Part 1 of this series, we reviewed the key issues for landlords and tenants to consider...more
Hong Kong Chief Executive John Lee announced his maiden policy address on 19 October 2022. Alongside initiatives to attract foreign talent and safeguard national security, which are the main themes of his speech, he...more
In view of the rising popularity of green leases in various markets and the continued significance of sustainable practices, green leases must become an essential development in Hong Kong. There is a wide range of...more
The 2022-23 Budget was delivered by Paul Chan, the Financial Secretary of the HKSAR Government (the “Government”) on 23 February 2022, in the midst of the rapid worsening of this fifth wave of the COVID-19 pandemic in the...more
While the Trump Administration ended with a continuing flurry of activity affecting U.S. sanctions and export controls, with several actions affecting parties in China and Hong Kong, the Biden Administration is taking a...more
Following our recent Client Alert published in October 2020 on the release of the Section 5(a) Report under the Hong Kong Autonomy Act of 2020 (“HKAA”), there have now been some further updates in relation to U.S. sanctions...more
12/18/2020
/ China ,
Department of Defense (DOD) ,
Economic Sanctions ,
Executive Orders ,
Foreign Financial Institutions (FFI) ,
Foreign Official ,
Hong Kong ,
Military Contracts ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Trump Administration
This year’s Policy Address was delivered today (25th November 2020) amidst the backdrop of a changing and dynamic environment. The Chief Executive (“CE”) has set out a variety of key initiatives to address the city’s land and...more
As noted in the Consultation Paper issued by the Securities and Futures Commission (“SFC”) on 9 June 2020, an SFC-authorised REIT is currently allowed by the SFC to have less than ‘majority ownership and control’ in...more
Hong Kong has taken a further step towards establishing itself as a leading fund formation jurisdiction with the passing of the Limited Partnership Fund Ordinance which is expected to become effective on 31 August 2020, to...more
Hong Kong Government has issued a further round of financial relief worth HK$137 billion (US$17.5 billion) to help Hong Kong combat the impacts of COVID-19.
This blog explores two key initiatives, namely (1) the Employment...more
Business disruption seems to have become the new norm in Hong Kong in the last 12 months or so. The first quarter of 2019 was dominated by news of a regional slowdown caused by the US/China Trade War. The second half of the...more