TOP NEWS IN 2021
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Daily news: www.hongkongbusiness.hk Also amongst the top 10, in this particular order, are Swire Properties, LVMH, HK Electric, Richemont, Morgan Stanley, UBS Bank and J.P. Morgan. Moreover, the 2021 research found drivers for employee value proposition are the company’s financial health, job security, and a good reputation.
Hong Kong poised to become ‘Nasdaq of the East’ Hong Kong’s equity market is expected to turn itself into the “Nasdaq of the East,” HSBC Global Research said in a report. This comes as Hong Kong’s stock market is supported by ADR “homecomings” and the primary listing of “unicorns,” leading to a rise in transaction volumes. HSBC said Hong Kong continues to dominate the market in terms of IPO, ranking as the top market seven times in the last 12 years.
10 of HK’s most attractive companies The Hong Kong Jockey Club emerged as the most attractive company amongst workers in 2021, leaping from fourth place in 2020, Randstad reported. Following The Hong Kong Jockey Club are Cushman & Wakefield and Towngas (The Hong Kong & China Gas Company) in second and third place, respectively.
16 HONG KONG BUSINESS ANNUAL 2022
How vocational training shapes Hong Kong workforce The PwC Hong Kong found that vocational and professional education and training (PVET) plays an important role in helping the employability of the youth and in closing the existing skills gap. For one, the study found that VPET providers have significantly enhanced youth employability in the past 20 years. The unemployment rate amongst the younger workers, those aged 1519, declined to 10% in 2019 from 31% in 2002. “The study found out that employees with sub-degree qualifications earned some 30% higher than secondary school leavers, whereas holders of a bachelor’s degree or above qualification had an over 100% salary uplift compared to those with upper secondary qualifications,” PwC reported.
New round of ‘Staycation Delights’ kicks off The Hong Kong Tourism Board (HKTB) has launched the new round of “Staycation Delights,” which grants eligible individuals to redeem discounts in exchange for receipts worth at least $800. The Spend-to-Redeem “Staycation Delights” programme allows individuals, aged 18 or above, to present receipts from local retail or dining outlets to redeem a $500 discount at a local hotel. “The first round of the Spendto-Redeem ‘Staycation Delights’ programme in March successfully stimulated local spending,” HKTB Executive Director Dane Cheng said, noting the average of participants’ actual spending exceeded the minimum required amount by 70%.
Nearly 80% of Hong Kong execs experience mental health issues: survey A total of 78% of Hong Kong executives have admitted to experiencing mental health symptoms over the past 12 months. Around 58% of executives in the city said they experienced anxiety, higher than 29% in China. Some 45.5% in Hong Kong suffered from disturbed sleep and 39% lacked energy or felt fatigued. This is also higher than 37.5% in both issues, recorded in China.
Tech event RISE returns to Hong Kong in 2022 Tech conference RISE will be returning to Hong Kong in 2022 as an in-person event, the Hong Kong Tourism Board (HKTB) and Web Summit announced. “This is a testimony of Hong Kong’s success in containing the pandemic and keeping infection rate amongst the lowest in the world, thereby giving international event organisers confidence that they can stage their events here safely,” Secretary for Commerce and Economic Development Edward Yau said. The event was first launched in 2015 and has since hosted five events. It has attracted major tech firms, such as Alibaba, Stripe, Magic Leap, and Sequoia Capital China.
Hong Kong signs MoU on overseas economic, trade cooperation zones The Hong Kong government and the Ministry of Commerce signed a memorandum of understanding that will enhance overseas Economic and Trade Cooperation Zones (ETCZs). Under the MoU, the Hong Kong government and the Ministry of Commerce will leverage their respective strengths to promote the high-quality development of the ETCZs, as well as encourage enterprises of both places to invest and set up businesses at the ETCZs.
