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Hong Kong’s economic system expanded by 3.9% year-on-year in actual phrases within the first three quarters of 2017, after growing by 2% in 2016. On the premise of the Guangdong Agreement, the Agreement on Trade in Companies signed in November 2015 further enhances the liberalisation in both breadth and depth, together with extending the implementation of nearly all of Guangdong pilot liberalisation measures to the whole Mainland; reducing the restrictive measures in the adverse record; and including 28 liberalisation measures within the constructive lists for cross-border providers as well as cultural and telecommunications services.

Hong Kong belongs, in its own proper, to the Asian Development Bank (ADB) and the World Customs Group (WCO). Government plans to borrow further Rs 50,000 crore in Jan-March 27 Dec, 2017 05:27 PM ISTThis means govt will now breach its fiscal deficit target for the year of 3.2 per cent of GDP. In July 2017, the mutual bond market access between Hong Kong and the Chinese mainland (Bond Connect) was launched to advertise the development of the bond markets within the two locations.

In the latest round of evaluate in November 2017, the Authorities forecasted Hong Kong’s economic growth for 2017 as a complete at three.7%, larger than the mid-level of the range forecast of 3-four% announced in the August spherical. Hong Kong’s merchandise exports elevated 8.3% yr-on-yr in January-October 2017, after a marginal lower of zero.5% in 2016.

Cheque books of those SBI account holders will develop into invalid from Dec 31 27 Dec, 2017 10:08 AM ISTAccountholders of banks merged with State Bank of India (SBI) should get cheque books bearing the new IFSC code by December 31, 2017. Then again, Hong Kong has grow to be a member of the Asian Infrastructure Investment Bank (AIIB) since June 2017.

No, it will likely be the year of Blockchain 26 Dec, 2017 01:51 PM ISTAwareness about Bitcoin — a particular use of Blockchain to difficulty a currency — will enhance in 2018. Small financial savings schemes’ interest rates cut by 20 bps 28 Dec, 2017 06:38 AM ISTInterest charges for 1-12 months time deposits has been lowered to 6.6% from 6.eight%, whereas the speed on 2-year time deposits has been reduce to 6.7 p.c on quarter.