The Hong Kong economy is externally oriented and highly dependent on trade with the rest of the world. In 2020, the value of Hong Kong’s total merchandise trade reached HK$8,197.3 billion (US$1,056.8 billion), or around 302% of the Gross Domestic Product (GDP) in that year. The value of imports amounted to HK$4,269.8 billion (US$550.4 billion) or around 158% of GDP. The value of exports was HK$3,927.5 billion (US$506.3 billion) or around 145% of GDP. Hong Kong was the world’s sixth largest trading entity in goods in 2020, eighth largest importer and sixth largest exporter.
Established in 1966, the Hong Kong Trade Development Council (HKTDC) is the statutory body responsible for promoting the city’s trade. Like any other government organisation, the HKTDC has experienced shifts and gained valuable takeaways because of the pandemic. Our Cover Story this month comes face-to-face with the Executive Director of the HKTDC in which she shares some key milestones and achievements of the organisation, her vision for Hong Kong as a trading hub as well as plans moving forward.
Our first feature this month explores in detail the Companies Register’s new inspection regime, providing key insight on its significance, implications, and legislative history. Our second feature is on Main Board listings, specifically regarding the new profit requirement that arose as a result of a recent consultation paper. Our final feature is on the topic of submitting to the jurisdiction and closely examines Part IV of the Court of Appeal judgment in Chan Hon v. Bayer Healthcare Limited, Bayer Diagnostics Limited and Bayer Weimar GMBH Und Co. Kg to unpack the requirements of the relevant rules and the pitfalls that might be faced by parties involved.
In our “Lawyers at Leisure” section this month, we have an avid animal lover share her experience with animal adoption in Hong Kong and the benefits it brings to not just the animals, but to the adopter as well. Our “Practice Skills” piece looks at compliance training in law firms and how professionals can make it more engaging and memorable through innovative techniques.