The Consulate General of Switzerland in Hong Kong - Press review

Developer bets on Asian buyers to make a beeline for Andermatt resort property:
A Swiss developer is launching a luxury residential project in the Alps exclusively for Asian investors ahead of the winter ski season. It is the sole large-scale development in Switzerland that has been cleared for foreign ownership, after the developer secured an exemption from a federal law that required overseas investors to have permits to own Swiss property. SCMP, Oct 20

Canberra pledges to look into alleged censorship of HK workshop at Australian festival:
Hong Kong's trade office in Australia has sought to distance itself from a brewing controversy over allegations that it exerted political influence on the country's largest Asian-themed festival to pull a cultural workshop that featured yellow umbrellas – a local protest emblem. SCMP, Oct 29

US, Britain and EU voice objections to disqualification of District Councillors:
The United States, Britain and the European Union accused the Hong Kong government of stripping Hongkongers' democratic rights, following further disqualifications of opposition district councillors for allegedly insufficient loyalty to the city. SCMP, Oct 22

Chinese foreign ministry criticises jobs policy for US-based HK residents:
China's foreign ministry in Hong Kong has criticised a United States policy allowing city residents granted so-called safe haven status to apply for work there, urging Washington to "pull back from the brink" and end its "brutal meddling" campaign. SCMP, Oct 21

US lawmakers seek further actions to provide safe harbour to Hongkongers:
Members of the US Congress urged President Joe Biden to ease asylum requirements and take other steps to help those fleeing Hong Kong and other parts of China where Beijing is accused of rights abuses. SCMP, Oct 20

Beijing official calls on HK universities to play a more active role in GBA development:
Local universities are told to start making their mark by contributing to economic advances on national
level, according to Beijing's top agency in Hong Kong. SCMP, Oct 28

Authorities fail to strike deal on polling stations for residents in mainland:
The authorities have failed to reach a consensus with their mainland Chinese counterparts on allowing new polling stations to be set up across the border or at boundary control points to cater for city residents living on the other side. TS, Oct 25

HK newspaper Ming Pao drops HK democrat Alan Leong from legal column after 18 years:
The column, written in Chinese, has seven contributors, including barrister and former lawmaker Margaret Ng, Executive Council member Ronny Tong, former chairperson of the Bar Association Winnie Tam, and University of Hong Kong's Adjunct Professor of law Johannes Chan. "Nowadays, writing articles is like tightrope walking, with one misstep and fall, there might be smashed bodies and shattered bones," said Leong, in apparent reference to a quote from Chinese leader Xi Jinping. HKFP, Oct 18

LegCo passes new film censorship law to ensure national security:
Lawmakers passed a bill that allows authorities to ban movies which are "deemed to be contrary to the interests of national security". Under the new law, authorities could pull films that have already been approved for screening if they are considered to be glorifying or supporting acts that could endanger national security. HKFP, Oct 27

Amnesty International reveals exit plans:
Hong Kong's national security law no concern for law-abiding groups, Carrie Lam says after Amnesty International reveals exit plans. Amnesty International specifically pointed to the Beijing-imposed legislation on Monday in announcing it would close two offices in the city. SCMP, Oct 26, Amnesty International Statement, Oct 25,

No ADPL members plan to run in LegCo poll:
The Hong Kong Association for Democracy and People's Livelihood ADPL said that no members indicated their intention to stand in December's Legislative Council election before its internal deadline for applications on Friday. TheStandard, Oct 23

Carrie Lam says NSL hits city reputation but blames foreign forces:
Chief Executive Carrie Lam has admitted that the city's reputation has "undeniably" taken a hit since Beijing's imposition of National Security Law, but blamed the development on "foreign forces" and insisted her administration simply needed to do a better job of explaining the sweeping legislation. SCMP, Oct 20

42% of those surveyed would leave HK if they can:
Figures by the Hong Kong Institute of Asia-Pacific Studies showed that 42% of the 716 people interviewed said they would leave Hong Kong if they have the chance, with their most preferred destinations being the UK, Canada and Australia. RTHK, Oct 20

Journalists Association told most of its police complaints not pursuable:
The Journalists Association said it has been informed by the police that all but one of 27 complaints it
filed against officers during the 2019 unrest have been classified as "not pursuable". HKFP, Oct 19

Chanting "Hongkongers, add oil" or calling government "tyrannical" could be seditious:
Chanting certain words of support for Hong Kong residents or calling the government "tyrannical" could be seditious, a pro-government historian has argued in the first trial under the city's colonial-era sedition law since 1997. HKFP, Oct 18

Seven activists jailed over July 1 protest:
The District Court on Saturday sentenced seven activists to between six and twelve months behind bars for their roles in a protest on July 1 last year. The Standard, Oct 16

Sixteen District Councillors unseated over oaths:
The government on Friday disqualified 16 district councillors from the eastern New Territories, saying the oaths of allegiance they took this week were invalid. Meanwhile, 17 other District Councillors face disqualification after the government raised doubts about the oaths they took on Friday. TS, Oct 8

Registry search rights tightened:
The government has tightened registry searches in Company Registry and Land Registry, as people will have to provide their name and identity card number to use the registries' services from 1 November. In response, Hong Kong Journalists Association warned that this development could undermine media freedoms. The Standard SCMP, Oct 26

Hong Kong banks to disclose related property of clients who breach security law:
According to the guidelines from the Hong Kong Association of Banks's FAQ-page, banks in Hong Kong are advised to disclose related property of clients who are found in breach of the city's national security law, i.e. who is arrested or charged for an offence endangering national security or when they have knowledge or suspicion that a property is "offence related property" after receiving information from law enforcement agencies. TodayOnline, Oct 24

Jobless rate falls to 4.5%:
Hong Kong's unemployment rate dropped from 4.7% to 4.5% in the July-to-September period, the lowest since the Covid-19 pandemic began last year. SCMP, Oct 21

Commerce Secretary tells EU chambers business environment remains vibrant:
Edward Yau, Secretary for Commerce and Economic Development, said that Hong Kong's business environment remains vibrant, as the numbers of business operations in the city from overseas and the mainland reached a record high in 2021. ChinaDaily, Oct 19

19 banks get go ahead for Wealth Management Connect , HSBC first bank to launch services:
The Hong Kong Monetary Authority announced yesterday that 19 eligible banks in Hong Kong have received the green light for the Cross-boundary Wealth Management Connect Pilot Scheme in the Guangdong-Hong Kong-Macau Greater Bay Area which is set to be launched by HSBC on October 19, 2021 enabling residents in the GBA to make cross-boundary investments in over 100 wealth management products 24/7 digitally. Hubbis, TS, Oct 19

Hong Kong takes on Singapore with China futures trading:
Hong Kong's stock exchange launched a new futures contracts scheme, making it easier for international investors to bet on mainland Chinese stocks. The launch is something of a blow for rival Singapore which, until now, had a monopoly on Chinese futures. The Standard, Oct 18

Hongkong's Exchange Fund reports US$1.7bn Q3 loss:
The Hang Seng Index crashed by about 15% with Beijing's big tech crackdown which has Hongkong's Exchange Fund report a loss of US$ 1.7bn in Q3 2021, which is its worst loss since early 2020. Its performance remains solid on a nine-month basis, however, with cumulative gains of HK$126.5 billion, up 40 per cent from a year earlier. SCMP, Oct 18

3% pay rise projected for HK workers in 2022:
The Institute of Human Resource Management has projected a 3% pay increase for workers next year. The institute based the projection on its poll of 115 companies in 16 sectors from January to September this year. Of the 105 firms that responded, 37% said they will offer a wage increase to staff and 6% said they will freeze pay. RTHK, Oct 10

Hong Kong will be 'more competitive' after tax deal:
The SAR government said on Saturday that the SAR would become a more competitive place to do business thanks to a new global tax deal announced by the Organisation for Economic Cooperation and Development. The administration said Hong Kong - which has a 16.5 percent headline profit tax rate - can reinforce its advantages under the more level playing field as a result of the agreement. The deal would also see taxing rights on more than US$125 billion of profit being shifted to countries where big multinationals earn their income. The Hong Kong government stressed that the arrangement would not affect small and medium-sized enterprises here. RTHK, Oct 9

Number of foreign companies rises slightly:
Hong Kong has recorded a marginal rise in the number of overseas companies operating locally, with a hefty influx of mainland Chinese firms more than offsetting the number of other foreign businesses jumping ship. As of June 1, there were 9,049 overseas companies with a presence in the city, 24 more than there were the year before. SCMP, Oct 7

European firms consider moving staff from Hong Kong, chamber says:
European companies are discussing relocating staff from Hong Kong, Frederik Gollob, chairman of the European Chamber of Commerce in Hong Kong, said, as the city commits to a "Covid Zero" strategy that almost every country apart from China is abandoning. SCMP, Oct 6

Exposure to Evergrande crisis "very minimal" and no threat to city's financial stability:
Hong Kong's exposure to the unfolding debt crisis at developer China Evergrande Group is "very minimal" – at 0.05%, or HK$14 billion (EUR 1.56 billion), of local banking assets – and poses no threat to financial stability, according to Financial Secretary Paul Chan. Meanwhile, Chan also said there is no timetable to incorporate China's anti-sanctions law into the local legislative framework. SCMP, Oct 3

Quarantine-free travel schemes from Macau to HK to resume next Tue:
HK authorities have announced that the quarantine-free Return2hk and Come2hk schemes for travellers from Macau will resume from next Tuesday. TS, Oct 28

'Tighten exemption system before border reopens':
A deputy to the National People's Congress, Michael Tien, on Monday called on the government to tighten its quarantine exemption system, saying this could be key to reopening the border with the mainland. After a Russian diplomat in HK was confirmed with COVID-19 over the weekend, Tien made the suggestion arguing that there could be up to two thousands of exemptions given that Hong Kong has more than a hundred consulates. RTHK, Oct 18

HK$240 billion pledge to fight climate change:
Environment Secretary Wong Kam-sing on Friday set out the government's new climate action plan with a pledge to spend HK$240 billion (EUR 26.6 billion) over two decades to combat climate change. Wong said the money will go towards developing green transport, energy-saving systems and waste-to-energy infrastructures, among other things. A new office will be set up to co-ordinate actions to promote de- carbonization. RTHK, Oct 8

Big health, financial services priorities for Hengqin development, says Chief Executive:
Chief Executive Ho Iat Seng focused on big health industry, Traditional Chinese Medicine, financial services, MICE, culture and sport events in the set of proposals he put for the in the first meeting of the Management Committee of the Guangdong-Macao In-depth Cooperation Zone. MB, Oct 23

Guangdong lists RMB2.2 billion in government bonds in Macao:
The Guangdong provincial government has carried out the first offshore municipal government bonds issuance in Macao, some RMB2.2 bn (~€294 mio) in bonds with a 3-year maturity rate. MPD, Oct 14

Macao needs to hit jab rate of 80-90% before halting zero-Covid-19 policy:
Following Macao's third mass nucleic acid test drive, health chief Leong Lek Hou has reaffirmed that only after Macao reaches a Covid-19 vaccination rate of 80 to 90%, could the government consider shifting its policy to a "living-with-the-virus" approach. MDT, Oct 8

Tourist arrivals plunge almost 90% on 1 October:
The number of tourist arrivals on the first day of the National Day Golden Week stood at 1,749, just over one tenth of the figure recorded on the same day last year (15,254), according to figures from the Macao Government Tourism Office. Meanwhile, September has ended with MOP5.8 bn (EUR 625 mio) in gross gaming revenues, the second worst monthly tally after a second consecutive month impacted by the discovery of local Covid-19 cases. MB, Oct 2

Last policy address by Carrie Lam:
An instant poll on Policy Address showed a satisfaction rate of 34.2 out of 100 – slightly higher than last year, but still the third lowest since 1999. Meanwhile, the city will build a new megacourt to address a shortage of space as it works through a backlog of the thousands arrested during the 2019 mass protests and the more than 150 arrested under the National Security Law. TS, Oct 7

Chief Executive Carrie Lam delivered the fifth policy address of her term on Wednesday, with the focus on national security, housing and economic development. SCMP, Oct 6

This is a review of the Hong Kong media and does not necessarly represent the opinion of the Consulate General of Switzerland. The Consulate General of Switzerland in Hong Kong does not bear any responsibility for the topicality, correctness, completeness or quality of the information provided. Liability claims regarding damage caused by the use of any information provided, including any kind of information which might be incomplete or incorrect, will therefore be rejected.

29.10.2021