2004 Hong Kong Arts Festival

Every year during February and March the Hong Kong Arts Festival presents ashowcase of the best international, regional and local artists over a four weekperiod in Hong Kong. Established in 1972, the Festival's first Director hadbeen the director of the world renowned Edinburgh Festival. Since then the HongKong Arts Festival has gained a reputation as a leading international event. Theprogramme always includes a wide range of opera, classical music, dance, theatre,jazz and world music and it well reflects the cosmopolitan nature of Hong Kong andits status as an international city.     

Hong Kong’s export-propelled growth

Hong Kong’s metamorphosis from an entrepot to an industrial economy during the past quarter of a century gives a good example of how a developing country can achieve remarkable growth through international trade.     

Hong Kong： Again The World Best

Hong Kong International Airport(HKIA) has been named CargoAirport of the Year 2003 by the air cargo trade publication Air Cargo News.This is the second consecutive year for HKIA to have received this award.     

Guangdong and Hong Kong to Invite Bids

The Guangdong Department of Science and Technology announced that the governments of Guangdong and Hong Kong will continue jointly inviting bids for key projects in the region such as information and communication, biomedicine and medical equipment, new materials, agricultural processing technology and food safety, environmental protection and cleaning production technology.     

Bank of China Plans Listing in Hong Kong

Bank of China, the third-largest lender on the mainland, will apply to list its shares on the Hong Kong stock ex - change early 2006, the China Securities Journal reported on De- cember 30. The long-anticipated move follows the approval of a purchase of a 5% stake in     

Hong Kong：10^th Anniversary of Return

In the past months, Hong Kong has warmed up for celebrating the 10th anniversary of its return to the Chinese motherland with all kinds of anniversary-related activities. Concerns from all over China and abroad are mainly focusing on what changes the Hong Kong economy has undergone in the 10 years since the handover and what are the external and internal factors affecting Hong Kong. Authorities from Hong Kong Trade Development Council (TDC) have shared their views with China's Foreign Trade on Hong Kong's economic development in the past 10 years.     

Only RMB2,350 from Beijing to Hong Kong

Dragonair is launching special offer during the Labor Day holidays at RMB2,350 for a round trip economy class ticket from Beijing to Hong Kong. All you need to do is to depart Beijing between April 28 to May 6, 2005. For your convenience, you are free to choose any one of our eight daily flights!     

Hong Kong Disney：A Paradise in Your Dream

A paradise dream will become true! That‘s Hong Kong Disney! On June 3,there was magic at work at Hong Kong Disneyland today as hundreds of cast members, together with Hong Kong Disneyland Ambassador Angela To, celebrated the start of the 100-day countdown to the Park‘s grand opening on September 12.     

Seminar on Investment Climate of Mainland and Hong Kong

the Gold Economic Circle of the Greater China is destined to grow more rapidly.In such circumstances, it is obviously short-sighted if enterprises cast their eye only to the Mainland or Hong Kong.     

Hong Kong：Freest Economic System for Successive 11 years

The Heritage Foundation of US announced the 2005 index of economic freedom report on January 4. Hong Kong was chosen as the freest economic system in the world for 11th year in succession.Mr. Tung Chee-Hwa, Chief Executive of Hong Kong Special Administrative Region (SAR) and Mr. Henry Tang,     

Hong Kong as a Trading Hub： Entrepot and Beyond

The author from Heng Seng Economic Monthly holds that, while Hong Kong's role as an entrepot for handling trade in physical goods will diminish over time, it will continue to excel as an important hub for managing invisible offshore trade and trading of capital and financial market instruments.     

Discuss State Affairs by Hong Kong and Macao CPPCC Members

In 2007, China will celebrate the l0th anniversary of the return of Hong Kong to the mainland and the 8th anniversary of the return of Macao. What changes have taken place in past years?     

Hang Seng and HSBC Predict Economic Growth in Hong Kong

Following Bank of China (Hong Kong) and Federation of Hong Kong Industries' heightening the predicted economic growth in Hong Kong, on July 1 HangSeng Bank declared that the local GDP of Hong Kong in this year is predictedto raise from 5.5% to 6%, and it further estimated that the economic growthof Hong Kong in the     

Hong Kong gov＇t plan to curb youth drug abuse

The government of the Hong Kong Special Administrative Region （HKSAR） will soon introduce an array of measures to tackle the growing problem of youth drug abuse, Chief Executive Donald Tsang said on July 16.     

Does reputation of sponsors matter in IPO? Evidence from Hong Kong

Contrary to other markets where underwriters perform a combined role of underwriting and sponsoring in an Initial Public Offering (IPO), IPO issuers in Hong Kong must appoint at least one sponsor in addition to the underwriters. The splitting of the single role of underwriters into two separate ones offers an ideal setting to disentangle the effects of the two roles and to examine which of the two roles—sponsor or underwriter—is more important in explaining IPO underpricing and initial volatility in the Hong Kong equity market. Interestingly, our findings provide supportive evidence that the sponsor reputation does matter in an IPO and it is even more significant than the underwriter reputation in explaining the IPO underpricing phenomenon. Given the recent high-tech fervor, our research goes deeper to examine specifically the role of sponsors on high-tech firms, with results indicating that the reliance on sponsors is higher for traditional issuers than for technology firms. We further discover that sponsors and underwriters are playing substitution roles rather than complementary roles. In order to examine the regulatory policy impact, our research also compares the role of IPO sponsors before and after the launch of the new sponsor regulatory regime in 2013. The empirical findings lend support to our argument that after the launch of the new regulations, public awareness of sponsors is raised, respect towards more reputable sponsor increases, and thus, the role of sponsors becomes more important than before.     

Guangdong,Hong Kong and Macao Initiate Cross-Region Cooperation in Protecting Intellectual Property

wenty senior officers of Twenty senior officers of intellectual property administrations from Guangdong Province, Hong Kong Special Administrative Region (hereinafter called Hong Kong) and Macao Special Administrative Region (hereinafter called Macao), gathered in Guang Zhou for the first time ever, jointly discussed the intellectual property issues involved in the communication and cooperation of science and technology and trade among the three regions and reached a preliminary consensus in establishing coordination mechanism for the protection of intellectual property.