Big data changes life

  The financial services industry has become increasingly digitalised, with cross-border transactions  continuing to grow significantly and data connectivity being an imminent business need globally.  Similarly, within the Greater Bay Area (GBA), cross-boundary flow of data is crucial for the further  integration and connectivity of the financial services industry. A coordinated governance framework  and standard is key to facilitate data flow between Hong Kong and the rest of the GBA cities, and to  address operational challenges and compliance uncertainties to businesses operating across  multiple jurisdictions. Hong Kong, being the international financial centre (IFC) of Asia and already  possessing robust information and communications technology infrastructure and innovation  capabilities, has what it takes to become the financial data hub of the GBA to facilitate a frictionless  flow of data within the region.  

  Hong Kong’s economic success owes much to its comprehensive financial services industry,  which has long been recognised as one of the world’s foremost financial hubs. Over the years,  the industry has constantly evolved to meet the demands of a changing global market, driven by  the emergence of new technologies, evolving customer expectations, and changing geopolitical  conditions. Following these changes, the talent market of the financial sector has also undergone  significant changes in tandem with the overall landscape. 

  In the two years following the release of the 2021 OM Survey Report, Hong Kong has  achieved a pace in developments that is both blisteringly fast and concurrently measured,  carefully planned and sensibly thought out.  

  China is at the forefront of implementing pronounced decarbonisation practices to cut transportation emissions to fulfil its nationally determined contribution. The transport sector, the second largest emitting sector, accounts for 18.7% of the total greenhouse gas emissions in Hong Kong. Without ambitious decarbonisation efforts, transportation emissions and threat of climate change will not reduce significantly. 

  In the third quarter of 2023, global IPO activities remained sluggish due to macroeconomic and geopolitical uncertainties. Hong Kong’s global IPO ranking dropped to eighth following a historically slow third quarter. The Hong Kong IPO market performance is anticipated to face ongoing challenges in the near future due to the persistently high interest rate environment and slowing economic growth. In spite of this, the steady pipeline of around 110 active IPO applicants bring expectations for Hong Kong to reclaim a top five global IPO ranking by the end of 2023, according to KPMG‘s Chinese Mainland and Hong Kong IPO Markets 2023 Q3 Review. The Hong Kong Stock Exchange (“HKEX”) recently published a consultation paper on the GEM reform, proposing measures to enhance the appeal of GEM for small and medium-sized enterprises with high-growth potential. Furthermore, the government has established a task force to enhance the liquidity of the stock market and bolster the development of Hong Ko

  Good environment, social and governance (ESG) practices not only address the sustainable development of the companies themselves, but also their impact on the environment where they operate and even on society as a whole. Today, more and more companies have recognised the importance of incorporating ESG factors into their management and daily operations, building a scientific and efficient ESG management system, and making high-quality ESG disclosures. Since the launch of the Environmental, Social and Governance Reporting Guide (the ESG Reporting Guide) in 2013, Hong Kong Exchanges and Clearing Limited (HKEX) has continuously reviewed its ESG reporting framework and rules, which facilitate high-quality ESG disclosure by issuers and promote ESG and sustainability commitments of listed companies. Entering the 10th year of the implementation of the ESG Reporting Guide, the ESG information disclosure of Hong Kong listed companies has entered a new stage, becoming more and more comprehens

  The Guangdong-Hong Kong-Macao Greater Bay Area  (GBA) initiative is part of the national development  strategy President Xi Jinping has envisioned, planned  and promoted. The 2019 promulgation of the Outline  Development Plan for the Guangdong-Hong KongMacao Greater Bay Area set in motion a concerted  effort to integrate amongst the GBA cities. Driven  by the spirit of reform and innovation, the major  collaborative platforms, such as Qianhai of Shenzhen,  Hengqin of Zhuhai, Nansha of Guangzhou, and the  Shenzhen-Hong Kong Innovation and Technology  Cooperation Zone, have brought forth interconnectivity  in infrastructure, alignment of legal and regulatory  frameworks, and sociocultural assimilation with  consequential progression, ushering in an exciting new  era in the GBA.  During his inspection trip to Guangdong Province in  April 2023, President Xi explicitly pointed out that the  goal is to “make the GBA a strategic fulcrum in our  new development framework, a demonstration zon

  Hong Kong East saw the most notable decline, while Hong Kong South edged up due to adjustments in building baske