On 22 February 2023, the Honourable Paul MP Chan, Financial Secretary of the HKSAR, delivered his highly anticipated Budget Speech for the 2023-24 term. Under the headline “Leaping Forward Steadily, Together We Bolster Prosperity under Our New Vision,” Secretary Chan provided a comprehensive summary of Hong Kong’s economic performance in 2022 as well as an outlook for 2023, including government spending and revenue forecasts, and introduced a wide range of initiatives to support industries and stimulate growth. Here, we have collected detailed breakdowns and commentaries from members of the German Chamber of Commerce, Hong Kong.

On 13 February, the Hong Kong Industrial Artificial Intelligence and Robotics Centre (FLAIR) held a partnership signing ceremony at Hong Kong Science Park. FLAIR was established in 2020 as a collaboration between RWTH Aachen and the Hong Kong Productivity Council (HKPC) under the InnoHK R&D initiative. Hannes Farlock delivered opening remarks at the ceremony on behalf of GIC Hong Kong.

GCC is delighted to be a Community Partner of the Happier & Healthier Campaign by WLAB – Club Wheelock x The DO.

We need a happier Hong Kong: According to the 2022 World Happiness Report, Hongkongers are not the happiest people on Earth, ranking 81st out of 146 places. We need a healthier Hong Kong: In 2020/21, an estimated 31% of the population had chronic health conditions, while ~56% of Hongkongers scored below 52 out of 100 in the World Health Organization’s Five Well-being Index, indicating “poor” overall mental well-being.

WLAB’s Happier & Healthier Campaign aims to help co-create a happier and healthier Hong Kong. Members and friends of the GCC community can contribute to the campaign by filling in an online survey.

Policy 21 Limited was established by The University of Hong Kong in 2000 and has been an independent research institution since 2009. Policy 21 is currently conducting a study on behalf of the Education Bureau to help in reviewing the provision of international school places in Hong Kong and support measures for the international school sector. Interested members of GCC are invited to participate in the study.

C60 engages in the marketing, development and distribution of medical devices, laboratory consumables and raw materials, covering Hong Kong and Asian countries.

Established in 2016, The Green Earth is a charitable organisation dedicated to promoting resource conservation and a zero-waste culture by engaging with the government, the public and the business sector.

TUI Blue offers lifestyle- and experience-oriented holidaymakers interested in local culture and authentic experiences a hotel product tailored to their individual needs and preferences.

UPS is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business.

Find all 2022-23 representative changes at a glance here.

Opened in October 1993, the 800-metres-long Central–Mid-Levels escalator and walkway system consists of 18 escalators and three moving walks and connects Queen’s Road Central with Conduit Road in the Mid-Levels. The system covers an elevation of 135 metres, and cost around HK$245 million to build.

The system is especially popular with commuters who use it to travel from their homes in the Mid-Levels to their offices in Central. Due to the dense urban environment on Hong Kong Island, the system only has one reversible track of escalators. The escalators go downhill towards Central from 6.00 am to 10.00 am every day, before changing direction and going uphill until midnight.

Today, the Central–Mid-Levels escalators serve over 85,000 people per day and have become a popular tourist attraction as well as recurring film location. If you want to take the escalator from Central all the way to Soho’s nightlife and dining district, make sure to plan in enough time: A complete journey from bottom to top can take about 20-25 minutes.