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Hong Kong

Capital: Hong Kong; GDP growth (annual %) 2016: 2.0%

China’s president Xi in landmark visit to Hong Kong

President Xi Jinping arrives in Hong Kong on Thursday to mark 20 years since it was handed back to China by Britain, with leading democracy activists by presently in police custody next a turmoil in the politically divided city.

The three-day visit is Xi’s initial since becoming leader in 2013 and comes at a time at the same time as there are growing fears that Beijing is threatening semi-autonomous Hong Kong’s freedoms.
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Asian energy firms fired up by rally in oil prices

Oil prices pressed on with fresh gains in Asian trade on Tuesday, boosting energy firms, next Russia and Saudi Arabia indicated they could extend an output cut into next year.

The world's top two crude-producing nations raised the idea at the weekend, with a transaction agreed between OPEC — of which Saudi Arabia is the key player — and Russia coming to an end in six weeks.

The news sent oil prices soaring about 2 % on Monday, in turn dragging world energy firms with them.
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Hong Kong Entrepreneur Day opens with record exhibitors

The ninth edition of the HKTDC Entrepreneur Day opened today to a record of additional than 270 exhibitors. Organised by the Hong Kong Trade Development Council (HKTDC), the two-day event (19 to 20 May) is taking place at the Hong Kong Convention and Exhibition Centre and is open to the public for free.

“The event is the HKTDC’s flagship event for entrepreneurs,” said HKTDC Executive Director Margaret Fong. “As additional and additional young people become interested in entrepreneurship, their request for start-up support is continually rising.”
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Key Facts: Territory: Hong Kong
Status: Special administrative region of China
Population: 7 million (World Bank, 2010)
Area: 1,098 sq km (424 sq miles)
Major languages: Chinese (mainly Cantonese), English (both official)
Major religions: Buddhism, Taoism
Life expectancy: 80 (men), 86 (women)
Monetary unit: Hong Kong dollar
Main exports: Electrical and electronic goods, clothing
GNI per capita: $32,780 (World Bank, 2010)
Internet domain: .hk
International dialling code: +852

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Country Profile

Climate change laws around the world
2017/05/14
There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.

The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.

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Asia Economic Roundup: July 2016
2016/07/18
Without a doubt Britain’s decision to abandon the European project will be remembered globally as a wake-up call for political elites around the world. It seems the people chose to go against immediate economic interest and accept an extra financial turmoil in order to address deeply seated social and identity issues.

Although Asia’s exposure to the UK is relatively limited and this is not exactly a “Lehman Moment”, nonetheless we can expect a lively debate as policymakers in Asia look for an appropriate response to address the needs of vulnerable households.

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Li’s reshuffle shows change is afoot for Asia’s family empires
2015/01/16
At the same time as word went out last Friday that Victor Li, son of Li Ka-shing, would meet the press to discuss a mystery issue, the Hong Kong press corps duly scrambled. As heir to a man the local media have dubbed “Superman”, the junior Mr Li merits intense coverage. Once it was clear what the last-minute summons was for — a near-total reorganisation of the family empire — bankers began to scramble too.

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Outlook for 2013-15
2015/05/19
The country (Hong Kong) is situated in Eastern Asia, on the border of the South China Sea and China.
Chinese/Hong Kong land covers an area of 1092 km² which is times the size of Washington, DC
The climate is subtropical monsoon and cool and humid in winter and hot and rainy from spring through summer, warm and sunny in fall.
Chinese/Hong Konger speak Chinese (Cantonese), English; both are official.
China country profile, Travel advice for Hong Kong S.A.R., China

Overview

Leung Chun-ying was chosen as Hong Kong's chief executive in 2012 despite opposition from a lot of members of the territory's bureaucratic and business elites. Mr Leung has pledged to tackle growing social inequality and to provide additional low-cost housing, but his government will struggle to meet popular expectations. The pro-democracy camp will continue to criticise the chief executive on several fronts. Budget surpluses will be posted in 2013-17, with inflows from land sales boosting government revenue.

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