Aug-Sep 2022
Dear [fullname,fallback=Reader],
We hope you have had a pleasant summer break and were perhaps even able to benefit from the recent shortening of compulsory quarantine. As our event calendar is starting to fill up again, we are very much looking forward to meeting you in person again soon.
In this newsletter issue we take a look at the ever more important issue of green hydrogen, particularly with regards to the potentials and challenges for Hong Kong when it comes to the practical implementation of hydrogen technologies.
Other topics include the proposed changes to Hong Kong’s foreign sourced income exemption (FSIE) regime, the latest Labor Market and Salary Report by the German Chamber of Commerce in China, and more.
As always, we thank you for your continuous support and look forward to receiving your feedback.
Enjoy the read and stay well!
Your GIC/GCC Team |
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Hydrogen Technologies: How H2-Ready is Hong Kong? |
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Hydrogen technologies have been playing an increasingly prominent role in recent years, as governments and industries have ramped up their efforts to implement the energy transition and promote sustainable development. In March of this year, China released its first medium to long-term strategy on hydrogen energy with a timeframe until 2035. While Hong Kong has yet to present a full-fledged hydrogen strategy of its own, the SAR is already committed to developing the potential of hydrogen technologies to help implement its ambitious decarbonisation targets. But there is one major caveat. |
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| At the start of August, Hannes Farlock took over as the new Delegate and Chief Representative of German Industry and Commerce in Hong Kong. In this short video introduction, he explains his background, what attracted him to the new role, and whether he prefers German or Hong Kong-based comfort food. Do you agree? Let us know! |
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| Last year, Hong Kong was placed on the European Union (EU) list of non-cooperative countries and territories for tax purposes. In response, the HKSAR Government recently released a consultation paper for a proposal to refine Hong Kong’s foreign source income exemption (FSIE) regime for passive income. Read about the potential implications in this article by GCC member Ravenscroft & Schmierer. |
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| German companies in China are projecting an expected salary growth of 4.88% on average in 2023 – only a marginal decrease from 2022 (4.91%). Meanwhile, China’s COVID-19 policies are heavily impacting employment: 41.7% of German companies are expecting a reduction in headcount and a quarter (25.4%) of foreign employees have left China in the last three years. |
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GIC/GCC Supporting Events |
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31 Aug-1 Sep 2022 Belt and Road Summit 2022
Organised each year by the Government of the Hong Kong Special Administrative Region and the Hong Kong Trade Development Council, the Summit gathers senior government officials and business leaders from countries and regions along and beyond the Belt and Road to exchange insights on multilateral co-operation and explore business opportunities. This year’s Belt and Road Summit will run under the theme “Heralding a New Chapter: Collaborate and Innovate”.
Members and friends of GCC can get a 50% discount on their Full Conference Pass by using special registration code 04P50CSOGCC!
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6-7 Sep 2022 Information Security Summit (IS Summit)
Jointly organised by the Hong Kong Productivity Council and leading information security organisations in Hong Kong, Information Security Summit (IS Summit) is the flagship cyber security summit in Hong Kong, with the aim to provide participants with the latest information security trends and developments.
Revolving around the theme of Security Transformation in New Normal: Evolution of Risk Management and Data Protection in a Post Pandemic World, IS Summit will cover how enterprises can transform their security successfully under the cyber security challenges, and the escalating cyber threats for the next normal. The topic will cover emerging cyber attacks and technologies, new security defence frameworks and risk management methodologies, and more.
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9 Sep 2022 KPMG: The Connected Cities Conference
This conference is one of the core events of the StartmeupHK Festival. The Connected City Conference, organised by KPMG, will showcase innovations for the next generation of urban living. A key theme for this year’s conference will be Hong Kong’s ongoing development not just a 'connected city', but also a globally leading 'smart ESG city' capable of attracting new talent including wealth creators, innovators and investors.
The Conference will also be featuring global and regional speakers from academia, business and leading entrepreneurs to share examples and best practices in implementing connected cities and technologies from around the world ─ including IoT, PropTech, Cyber Security, Metaverse and Data Analytics ─ to enhance a city’s liveability, workability and sustainability.
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5-6 Oct 2022 ReThink HK 2022, HKCEC ReThink HK — business event for sustainable development — a large-scale, cross-sector platform that champions ESG transformation and showcases game-changing innovation.
This year, ReThink HK will gather 300+ expert speakers over 6 themed Theatres/Stages. Join us and hear insights on 6 key themes: circular economy, cities & mobility, decarbonisation, food & the natural world, people & purpose as well as redefining value.
Get your Delegate Pass at the Super Early-Bird rate by registering with promo code GCCP22 until 4 September!
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31 Oct-4 Nov 2022 Hong Kong FinTech Week 2022
Organised by Financial Services and the Treasury Bureau (FSTB) and InvestHK, and event organiser FINNOVASIA - Hong Kong FinTech Week 2022: Pushing Boundaries, Reaping Benefits is being held at Hong Kong’s AsiaWorld - Expo and Online.
This year’s themes are The Davos of FinTech, Greater Bay Area, Digital Assets, CBDC & Web3 and Emerging Technology & Implementation.
At this world-class event, thousands of FinTechs and financial professionals, investors, regulators and tech enthusiasts will attend the in-person conference and exhibition. More of them from different countries across the world will join the live streams. GCC members will enjoy a 10% discount, codes will be announced in October.
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| Garden House Waldorf School offers a uniquely well-rounded education from early years to primary, carefully integrating arts, sciences, literature, and physical movement. |
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KNO is a community driven platform to boost worker engagement – for workers who want a voice, factories that want to reduce their costs and increase sales, and brands that want to reduce their risk and boost ESG. |
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New Primary Corporate Representatives
- CEI Conrad Electronic International (Hong Kong) Ltd. – Mr. Sergius Trautner, Technical Documentation & Marketing Manager
- Novia Product Service Ltd. – Mr. Bernd Hennecke, Director
- OBI Group Sourcing Hong Kong Ltd. – Mr. Thorsten Bauer, Managing Director
- Paul Hartmann Asia Pacific Ltd. – Mr. Bryan Tang, Managing Director
- SEB (Skandinaviska Enskilda Banken) – Mr. Urban Josefsson, General Manager
Find all 2022-23 representative changes at a glance here. |
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Is Your Profile Up to Date?
Our online Member Directory is your access point to relevant information and contacts within the GCC network – anytime from anywhere.
To maintain a reliable source for new connections and business opportunities, it’s essential that your company profile stays up to date.
Learn how to update your profile here.
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… the origin of Hong Kong’s typhoon signal code? |
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Tropical cyclone warning signals are a common occurrence in Hong Kong each year during the typhoon season from May to November. Depending on the severity of a typhoon, the Hong Kong Observatory may issue signals based on the well-known 1-3-8-9-10 system. But how did this code come about? And what happened to the missing numbers?
Typhoon signals in Hong Kong date back to the 1870s, when a black drum was hoisted by the Harbour Department to warn mariners of bad weather conditions. Following the establishment of the HKO in 1883, a typhoon gun was installed in front of the marine police headquarters in Tsim Sha Tsui. The gun would be fired once if gale-force winds were expected, and twice in the event of a tropical cyclone. However, the gun was reportedly also used as a “mail gun” to announce the arrival of postal services from overseas, resulting in confusion and false alarms. From 1907 onwards, the typhoon gun was replaced by explosive bombs, which were deemed a more effective way to get the message across.
The first numerical system was introduced in 1917 with signal codes from 1 to 7: 1 for stand-by; 2-5 for gales from N, S, E, and W, respectively; 6 for increasing gales; and 7 for hurricanes. Following the Conference of Directors of Far Eastern Weather Services held in Hong Kong in 1930, the local signal code was revised to include 10 signals, with 5-8 now indicating gales from NW, SW, NE, and SE. By the mid-1930s, however, signals 2 and 4 were only used in the Philippines. Meanwhile, signals 5-8 were eventually changed to 8NW, 8SW, 8NE, and 8SE from 1973 onwards in order to dispel the common misconception that the numbers represented varying wind strengths – and thus, the modern system was born. Signal No. 10 has only been raised 16 times since 1946, most recently during Typhoon Mangkhut in 2018. |
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Contact
Any questions or comments? Let us know!
Hendrik Hillebrecht Manager, Communications & Committees
T: +852 2526 5481 | D: +852 2532 1218 |
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“新聞” (“sunmun”) is the Cantonese word for “news”. GCsunmun provides you with regular news and updates from the Hong Kong–German business community.
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