Economy

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Ten million Shenzhen residents are expected to flood Hong Kong under more relaxed entry rules, with the move tipped to bring great benefits to local tourism, entertainment and retail businesses.

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Hong Kong and Guangdong will formulate a co-operation framework agreement, Chief Executive Donald Tsang says, adding the drafting of the document will be finished this year.


HK to become 'creativity city'

news.gov.hk 01.03.2009
HK to become 'creativity city'

Secretary for Commerce & Economic Development Rita Lau says the Government is dedicated to developing Hong Kong as a city of creativity in the region, adding a dedicated office will be formed to co-ordinate the development of a creative economy.

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Speaking on an RTHK radio talk show this morning, Financial Secretary John Tsang described his 2009-10 Budget as "expansionary, to deal with these very difficult times".


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Secretary for Labour & Welfare Matthew Cheung said most of the 62,000 jobs and internship opportunities to be created through the budget proposals are concrete jobs.

Job hunters face pay squeeze or the cold shoulder

Beatrice Siu The Standard 27.02.2009
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More than 700 job seekers flocked to the Vocational Training Council job fair at Mei Foo yesterday, hoping to pick up one of the 1,000 openings on offer.


Freefall

Benjamin Scent The Standard 27.02.2009
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Hong Kong exports plunged 21.8 percent in January, the biggest drop in half a century, and economists warned the pain will lead to another wave of layoffs across a range of industries.

More employment aid possible: CE

news.gov.hk 27.02.2009
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Preserving jobs is a key guiding principle in the Government's efforts to tackle the financial turmoil, Chief Executive Donald Tsang says, adding it will introduce further measures if necessary to help job-seekers.


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Financial Secretary John Tsang says his second fiscal blueprint accurately reflects the city's mainstream views, adding the Government will not consider introducing unemployment assistance as it may involve changes in the tax system.

Critics say budget doesn't go far enough

There's been more criticism of the Budget, from political figures and the business community.


I'm not stingy

Bonnie Chen The Standard 26.02.2009
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The financial secretary has come out fighting in defense of his budget - denying he's being stingy with an HK$8.3 billion giveaway.

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Creating jobs and preserving employment is at the core of Financial Secretary John Tsang's Budget, announced today.


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Hong Kong's economy will shrink by two to three percent in 2009, the first annual contraction since the city was battered a decade ago by the Asian crisis, the financial secretary said Wednesday.

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The Financial Secretary, John Tsang, will deliver his budget later today. Job creation is expected to be the government's top priority with the economy expected to have tailed off significantly during the first quarter of the year.


`Iron rice bowl' jobs attractive to students

Adele Wong and Bonnie Chen The Standard 23.02.2009
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Last-minute career and higher education seekers at the Education and Careers Expo said they prefer "iron rice bowl" jobs to those in the private sector.

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A Hong Kong Christian Service study, involving more than 360 youngsters, has shown that 75 percent of those who are currently jobless are worried they won't be able to find work in the current economic downturn.


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Hundreds of PCCW staff have taken to the streets in Central to protest against salary cuts and the sacking of their co-workers.

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Legislative councillor, Cyd Ho, says the government must make better use of Hong Kong's huge fiscal reserves during the current financial crisis and making fighting unemployment the number one priority.


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Hong Kong is set to establish itself as a wine trading and distribution centre in Asia, as part of an effort to build stronger international relations to lessen the impact of the global economic crisis, Chief Executive Donald Tsang says.

Job seekers live in hope the force will be with them

Beatrice Siu The Standard 20.02.2009
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Officials will speed up civil service recruitment and work with chambers of commerce to provide more internship places, Financial Secretary John Tsang Chun-wah said yesterday.



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