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The exhibition was an excellent vehicle for raising New Zealand’s profile in Hong Kong. Being so varied in subject, these iconic photos of New Zealand were a great vehicle for showing Hong Kong people New Zealand’s cities and people as well as its natural scenery.
Consul-General M Julian Ludbrook participated in a session of a Conference held at the Chinese University of Hong Kong on 25 June on the topic of “Hong Kong's Global Identity and its Role in China's Bilateral Relations”. Mr Ludbrook, speaking on "Hong Kong's Role in Sino-New Zealand Relations", outlined some relevant features of New Zealand's relations with China and then identified ways in which Hong Kong assumed a role bearing on these. The key area identified was in relation to bilateral trade and economic links with China through Hong Kong's role as a gateway or platform both into but also out of China for both trade and investment. A copy of the Consul-General's speech is available on the New Zealand Consulate General website [external link]
Vice-Consul Ms Melissa Crawford participated in The New Zealand Student Ambassador Selection Programme School-Business Forum hosted by New Zealand Trade and Enterprise at the Hong Kong Space Museum on 4 July. The forum aimed to raise students’ awareness of the present situation and future direction of corporate social responsibility in Hong Kong.
Twelve New Zealand Student Ambassadors from Hong Kong to share their valuable New Zealand working experiences with other local students at the forum, followed by a discussion and a question-and-answer session on corporate social responsibility among senior executives from various industry and government sectors in Hong Kong, including Commission on Youth Chairman Mr Joseph Lee. Ms Crawford and Hong Kong Education Bureau Chief School Development Officer Mrs Carol Ho gave closing remarks.
An essay from one of the students on her thoughts on the forum is available on newzealandeducated.com [external link - MS Word 22 KB]top of page
At the ceremony, Mr Donald Tsang reiterated his pledge to create a more democratic system for Hong Kong by "developing the mode of universal suffrage that will best serve the interests of Hong Kong".
Mr Hu’s and Mr Tsang’s speeches are available at
Speaking in the Legislative Council on 5 July, Mr Tsang pointed out that the mainland, with its present growth rate, will become a world economic superpower in ten years, and Hong Kong is China's only city that could become a world financial hub. He urged Hong Kong people not to lose the opportunity and expressed hope that he could work with the business sector to bring about a "golden decade".
The Hong Kong Government and non-government organisations have organised many programmes in celebration of the anniversary for the period from April to December 2007. The 460 events cover a wide variety of themes, from ceremonial and cultural occasions to exhibitions and conferences. Details of the programmes are available on the Hong Kong Government website. [external link]top of page
China's State Council released a list of approved appointments of principal officials of the Third Term of the Hong Kong SAR Govt on 23 June, with effect from 1 July 2007. Pledging that the team will be more in touch with public sentiment, Chief Executive (CE) Donald Tsang said that he will ``endeavour to deliver universal suffrage in the election of the CE and election of our legislature in the coming five-year term''.
A total of 15 principal officials were appointed under the accountability system, namely:
(Secretaries of Departments) Chief Secretary for Administration Mr Henry Tang; Financial Secretary Mr John Tsang; Secretary for Justice Mr WONG Yan Lung, SC; (Directors of Bureaux) Secretary for Education Mr Michael Suen; Secretary for Commerce and Economic Development Mr Frederick Ma; Secretary for Constitutional and Mainland Affairs Mr Stephen Lam; Secretary for Security Mr Ambrose Lee; Secretary for Food and Health Dr York Chow; Secretary for the Civil Service Miss Denise Yue; Secretary for Home Affairs Mr TSANG Tak-sing; Secretary for Labour and Welfare, Mr Matthew Cheung; Secretary for Financial Services and the Treasury Prof K C Chan; Secretary for Development Mrs Carrie Lam; Secretary for the Environment Mr Edward Yau and Secretary for Transport and Housing Ms Eva Cheng.
A total of 16 permanent secretaries will either take up new posts or stay at their existing posts. Lists of the principal officials and permanent secretaries with biographies are available respectively at the following sites:
The CE also announced the membership of the Executive Council (ExCo) for his next administration. The new ExCo comprises all 15 principal officials appointed under the accountability system and 16 non-official members. Mr Rafael Hui, has stepped down from his post as Chief Secretary for Administration in the next Government, became the only new non-official member. Mr Leung Chun-ying will again take up the post of ExCo Convenor of non-official members. The press release on the new ExCo is available at
Around 68,000 took part on the march on 1 July, according to organiser Civil Human Rights Front, the largest turnout since the first of the annual march in 2003, which attracted more than 500,000 people. Cardinal Joseph Zen and former Chief Secretary for Administration Mrs Anson Chan also participated (first time for Zen). The police estimated that only about 20,000 took part. This year’s theme was “Demand democracy for Hong Kong on the 10th anniversary of its return to Chinese rule”.
In response to the march, the Hong Kong Government reiterated in a statement that the Chief Executive has undertaken to completely resolve the issue of universal suffrage within his term of office, and that the Government will continue to adopt “a pragmatic, proactive and conciliatory approach” in promoting democratic development.
At the first session in Legislative Council (LegCo) in his second term, Chief Executive (CE) Mr Donald Tsang explained that the proposals in the constitutional green paper to be released soon will be an integration of different election methods rather than simply "one-man-one vote”. Commenting that bicameral systems and indirect election of the government leaders exist even in the countries such as the United States, Britain and France, he said that it would be hard to find electoral systems for returning the government chief and legislature by one-man-one-vote without ancillary arrangements.
Mr Tsang did not clarify whether universal suffrage in 2012 would be one option available for public consultation, and reiterated that it was simply meaningless to press for a timetable without first formulating a model that would secure the support of a two-thirds majority in LegCo.
On the question of nomination mechanism for CE election by universal suffrage, Mr Tsang pointed out that Article 45 of the Basic Law has stipulated that there should be a broadly representative nomination committee to return the CE through democratic procedures.
The Commission on Strategic Development has earlier issued reports summarising views on the way forward for Hong Kong’s political development. The reports on suggestions for CE and LegCo elections are available at
Hong Kong’s GDP expanded 5.6% yoy in the three months to March 2007, below the forecast of 6.4% and down from growth of 7.3% in the fourth quarter of last year. Exports expanded 8.2%, private consumption rose 5.6%, and investment spending grew 3.9%. The unemployment rate remained at 4.3%, the lowest in nine years.
The official GDP forecast for this year is maintained at a range of 4.5% to 5.5%, unchanged from the prediction made in the budget in late February. Small and medium enterprises in Hong Kong are generally positive about the economic outlook for the territory, with 71% expecting the economy to grow at the same pace, moderately faster, or significantly faster than the economic growth rate in the first quarter of 2007, according to a survey commissioned by HSBC.
Read the latest press release on Hong Kong’s economic situation [external link to Hong Kong Government Information]. top of page
The Hong Kong-China Closer Economic Partnership Agreement (Cepa) was further expand (Phase Five) on 29 June with the scope of liberalisation extended to 28 more service areas and 17 goods items. Under the new arrangements, Hong Kong owned tourism agencies would be allowed to operate alone or form jointly owned ventures in the Pan Pearl-River Delta region and organise package tours to Hong Kong. Likewise, Hong Kong-accredited medical practitioners with five-years working experiences in Mainland hospitals, after passing certain tests, will be allowed to set up self-financed or joint-venture medical practices in the mainland. Moreover, starting in 2008, the asset requirement for a Hong Kong bank to buy stakes in Chinese banks will be reduced to US$6 billion.
Full details are available at:
Hong Kong slipped to third place in terms of competitiveness behind the United States and Singapore in an annual survey by a Swiss-based International Institute for Management Development, after being ranked second for the previous two years. The mainland climbed the rankings to 15th, overtaking Japan for the first time. Survey organizers pointed to worsening air pollution, limited international school places and rising rents and cost of living as major factors hindering the Hong Kong’s competitive development.
A study by Japanese think-tanks led by the Japan Centre for Economic Research concluded that Hong Kong will remain one of the world's most competitive economies in the next 10 years. The study said that the city's strength will continue to grow as it spearheads the heavy industrialisation of the Pearl River Delta region, but pollution on the mainland remains a problem and could threaten the city's development. It ranked HK No 1 for competitiveness out of 50 economies last year - including Singapore and the United States. Hong Kong was ranked first for internationalisation and finance, second for enterprise and infrastructure, eighth for government and 10th for information technology, but its rankings for education and science were relatively low, at 15 and 25.
On the subject of competitiveness, Chief Executive Mr Donald Tsang has told the Financial Times earlier that Hong Kong should increase its population by 40% to 10 million to compete with New York and London as a global financial centre, and that Hong Kong needed to boost immigration as well as improve education and invest in infrastructure to lift its status to global financial centre.
The Centre for Food Safety announced on 15 June that new food additive labelling requirements would take effect on 10 July 2007. Both the names and functional classes of the additives used in a pre-packaged food must be listed on the label. Either the names of food additives used, or their identification numbers under the International Numbering System for Food Additives must be listed on food labels. The labelling of allergenic substances and date format also came into force.
The new regulation came into effect in 2004 with a three-year grace period to allow the industry sufficient time to comply with the regulation. Read the relevant press release on the requirements [external link to Hong Kong Centre for Food Safety]. top of page
Secretary for the Economy and Finance Mr Tam Pak Yuen said that Macao’s economy has entered into a ‘key moment’ this year. He said that the Government understands and supports measures imposed by authorities in mainland China to make residents coming to visit Macao more difficult, and reiterated that the Govt has been working hard to diversify the source of visitors coming to Macao. He was confident that with the diversification of the economy on the way, Macao will be able to provide more services in trade and commerce, as well as tourism.top of page
A decision on forming a new political party representing professionals has been delayed until next year, with the five functional constituency lawmakers known as The Alliance taking a "wait-and-see" approach. Legislator Mr Patrick Lau of the surveying, architectural and planning constituency said that The Alliance would wait for more progress on the government’s green paper on political reform before making a decision. Mr Lau, Mr Abraham Razack, Mr Bernard Chan, Mr Lui Ming-wah and Mr Raymond Or announced last November that they intended to start a political party this year.
Hong Kong’s stock market index scaled new heights in the first trading day following Beijing’s announcement expanding the scope of investments allowed under the Qualified Domestic Institutional Investor (QDII) scheme. The quota under QDII remains at about US $13 billion, and at most only 50% of that amount could be invested in the stock-related products. It is believed that the new arrangement will ensure an orderly outflow of funds from the mainland.
The Hong Kong Government will publish a consultation paper on the way forward of public service broadcasting in the second half of the year. The paper will draw reference from the report by the Independent Committee on Review of Public Service Broadcasting released in March, and will also take into account the future of government-funded Radio Television Hong Kong (RTHK) as to whether it will transit into a new public broadcaster.
Hong Kong people's satisfaction with Hong Kong’s overall development since the handover has reached a record high of nearly 40% as the economy continues to improve, according to the latest survey of more than 1,000 people last month commissioned by the US-based National Democratic Institute for International Affairs and conducted by the Chinese University of HK's Institute of Asia Pacific Studies. Researchers concluded that Hong Kong people’s worries about political stability and social unrest were being replaced by those concerning pollution, mainland corruption and questions of population burdens.
More than 50% of Hong Kong people are happier and more confident about economy than they were 10 years ago, a survey of 1,000 Hong Kong people between 18 and 54 years of age conducted by the Nielsen Company in May found. Two-fifth were found to be more confident about the economic outlook. Most said that their personal financial situation had improved since the reunification, with half of them noting an increase in monthly income, and 40% see a more positive sentiment in the local market than before.
Mr Anthony Lau has been appointed Executive Director of the Hong Kong Tourism Board, with Ms Daisy Lam as deputy, with effect from 1 August and 1 September 2007 respectively. Read their biographies [external link to Hong Kong Government Admin and Civic Affairs].
Chief Executive Mr Donald Tsang pledged to keep Hong Kong’s currency pegged to the US dollar during his five-year term, making the latest affirmation of the link amid persistent speculation that it might be abolished. See the relevant press release [external link to Hong Kong Government Business and Finance] .
| Period | NZ Total Exports to HK (FOB NZ$m) | % of market share | Yoy change |
|---|---|---|---|
| June 2006-May2007 | 581 | 1.65 | +8.5% |
| April 2007 | 46 | +11.9% | |
| May 2007 | 52 | -3.2% |
(Source: Statistics New Zealand)
| Indicator | Figure | Period | Change |
|---|---|---|---|
| 1. Gross Domestic Product | US$188.8 bn | 2006 | +6.8% yoy |
| 2. Economic growth | +5.6% | 1st Q 2007 preliminary | |
| 3. Economic growth forecast | +4.5 to 5.5% | FY2007 | revised forecast |
| 4. Population | 6.91 million | end 2006 | +0.9% yoy |
| 5. Fiscal deficit | HK$1.5 bn | May 2007 | |
| 6. Foreign currency reserves | US$136.3 bn | June 2007 | +7.6% yoy |
| 7. Monetary base | HK$294.8 bn | 31 May 2007 | +2.5% yoy |
| 8. Hang Seng Index | 21 773 | 29 June 2007 | +33.8% |
| 9. Inflation rate | +1.3% yoy | June 2007 | |
| 10. Prime interest rate | 6.75% | June 2007 | |
| 11. Property transactions | |||
| a. sales value | HK$31.7 bn | June 2007 | +63% yoy |
| b. no of transactions | 9 653 | June 2007 | +35% yoy |
| 12. Retail sales value | HK$20.5 bn | May 2007 | +10.2% yoy |
| 13. Unemployment rate | 4.2% | April-June 2007, (provisional) | |
| 14.a. Total exports | HK$224.7 bn | June 2007 | +11.1% yoy |
| b. Total imports | HK$244.1 bn | June 2007 | +13% yoy |
| c. Total re-exports | HK$215 bn | June 2007 | +13% yoy |
| 15. Visitor arrivals | 2.2 m | May 2007 | +12.6% yoy |
(Sources: 1, 2, 3, 4, 8, 11, 12, 13. Hong Kong Census & Statistics Department 5,6,7. Hong Kong Monetary Authority 9. HSBC 10. Hong Kong Land Registry 14. Hong Kong Tourism Board)top of page
Hong Kong-New Zealand Business Association Inc
Postal Address: P O Box 105-009, Central Auckland, New Zealand
Tel: +64 (9) 443 3337
Fax: +64 (9) 443 3331
Email: hknzba@clear.net.nz
Website: www.hknzba.co.nz
New Zealand Chamber of Commerce in Hong Kong
New Zealand Focus
2/F, Island Building,
439-445 Hennessy Road,
Causeway Bay,
Hong Kong
Tel: +(852) 2536 4469
Fax: +(852) 2810 9068
Contact: The Executive Officer
Email: exec@nzcchk.com
Website: www.nzcchk.com
New Zealand Society of Hong Kong
GPO Box 8817, Hong Kong
Tel: +(852) 6114 5583
Contact: The Membership Officer
Email: members@nzshk.org
Website: www.nzshk.org
HK$7.817 = US$1.00 (approx)
HK$6.028 = NZ$1.00 (approx)
The print version of “Hong Kong Review” is available from
New Zealand Consulate-General
6501 Central Plaza,
18 Harbour Road,
Wanchai, Hong Kong
Tel: +(852) 2525 5044
Fax: +(852) 2845 2915
Email: hlhkg@biznetvigator.com
