Please click on each headline for the latest news on Hong Kong and China:
- Hong Kong gains record high ranking as global FDI recipient
- Hong Kong advertising agencies win international awards
- Hong Kong's real GDP leaps by 6.5% in 2nd quarter of 2010
- Two million people visit Hong Kong pavilions at Shanghai Expo
- New record of visitors to Hong Kong
- Cathay Pacific adds more flights between Toronto and Hong Kong
Hong Kong gains record high ranking as global FDI recipient
Hong Kong was the world's fourth largest Foreign Direct Investment (FDI) recipient in 2009, according to the World Investment Report 2010 by the United Nations Conference on Trade and Development (UNCTAD). This marks the first time that Hong Kong has gained fourth place in the global rankings and represents a jump from its ninth position in 2008. For the 12th consecutive year, Hong Kong continues to be the second largest FDI recipient in Asia, after Mainland China.
In terms of FDI stock, Hong Kong ranked the highest in Asia, enjoying a majority share of 37 percent, or US$912.2 billion in 2009. This represented a 12 percent increase from 2008.
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Hong Kong advertising agencies win international awards
The creative teams of Leo Burnett Hong Kong and Grey Hong Kong won a total of 10 awards, including two gold awards, at the Cannes Lions International Advertising Festival.
Grey Hong Kong's "Umbrella Bag" project won Hong Kong's first ever Gold Lion award in the outdoor category, while Leo Burnett Hong Kong picked up one Gold Lion, three Silver Lions and five Bronze Lions with four projects - the "Hidden Sound Campaign", the "Unequal Childhood Paper-cutting" series, the "Organic Poo" poster series and the "Trailer".
The achievement of Hong Kong's advertising industry in the festival this year represents a recognition of Hong Kong's advertising talent and demonstrates that the quality of Hong Kong¡¦s creative work is on a par with international standards.
Hong Kong's real GDP leaps by 6.5% in 2nd quarter of 2010
According to the Hong Kong SAR Government's Half-yearly Economic Report 2010, the Hong Kong economy continued to show a broadly-based recovery in the second quarter of 2010, benefited mainly from the robust growth momentum in the Mainland and other Asian economies. Real GDP leaped distinctly further by 6.5% in the second quarter over a year earlier, after a growth of 8.0% in the first quarter, the second quarter of above-trend growth. On a seasonally adjusted quarter-to-quarter comparison, real GDP expanded by 1.4%.
Merchandise exports remained vibrant in the second quarter, expanding by 20.1% in real terms over a year earlier, propelled by the strong growth in many Asian markets and the further recovery in import demand in the United States. Exports of services likewise maintained strong momentum, up 16.9% year-on-year in real terms in the second quarter. Inbound tourism continued to benefit from the surge in Mainland visitors and the recovery in regional markets.
The GDP growth forecast for 2010 as a whole is revised upwards to 5-6%, from the forecast of 4-5% growth in the May round. The Half-yearly Economic Report 2010 is available for online download, free of charge at (www.hkeconomy.gov.hk/en/reports/index.htm).
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Two million people visit Hong Kong pavilions at Shanghai Expo
Visitors to the Hong Kong Pavilion and Hong Kong's exhibition at the Urban Best Practices Area (UBPA) at Shanghai Expo reached the two million mark around mid-August. The figure testifies to the popularity of Hong Kong's two pavilions. The overall popularity of Shanghai Expo was also evident with total admissions exceeding 40 million on August 14.
Sixty events and activities involving some 100 performances are being staged by Hong Kong for Shanghai Expo to showcase the city as a modern, creative and interconnected metropolis. One of the most exciting events to be staged by Hong Kong will be the Hong Kong Week in October. Hong Kong's participation in Shanghai Expo includes the construction and operation of the stand-alone Hong Kong Pavilion on the Pudong side of Shanghai Expo Park under the theme "Hong Kong - Potential Unlimited", and the case exhibition themed "Smart Card ¡P Smart City ¡P Smart Life" at the UBPA on the Puxi side of the Shanghai Expo Park. For more details on Hong Kong's participation in Shanghai Expo, please visit www.hkexpo2010.gov.hk.
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New record of visitors to Hong Kong
Figures released by the Hong Kong Tourism Board (HKTB) show a record number of visitor arrivals in Hong Kong in the first six months of 2010. The figure of over 16 million visitor arrivals represents not only a year-on-year increase of 23.1%, but also the highest half-yearly figure ever recorded. Also reaching a new record was the arrival figure for the month of June alone, which increased by 43.5% to reach 2,619,722.
A HKTB spokesman said the recovering global economy had helped increase travel propensity and sustain the growth momentum of visitor arrivals this year. Visitor arrivals from the Americas played a part in breaking the record, with the total from the region (USA, Canada and South & Central America) reaching 836,253, a growth of 11.1% over the same period last year. Of that number, 187,130 arrivals were from Canada, a 6.8% growth over 2009.
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Cathay Pacific adds more flights between Toronto and Hong Kong
Hong Kong's Cathay Pacific Airways is giving Canadian travellers more reasons to visit Hong Kong and Asia. From 31 October, 2010 two flights will be added to the airline's schedule offering travellers a choice of 12 flights weekly between Toronto and Hong Kong. According to the airline, there is growing demand for more flights between the two international hubs. With 12 weekly departures, travellers will enjoy greater flexibility when flying to Hong Kong.
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