Hong Kong's fragile economy, which has already been weighed down by the double whammy of the Sino-US trade battles and months-long violent protests in the city, could brace for a negative growth of 1.8 percent for the whole year in the aftermath of a negative growth of 6 percent over the first quarter, Wang said.
Hit hard by the virus, the entertainment, leisure and tourism industry is showing initial signs of bouncing back. During the May Day holiday, from Friday to Tuesday, Shanghai welcomed 7.07 million tourists, driving sales of 9.5 billion yuan (.3 billion), according to the Shanghai Tourism Administration.
Hong Kong braced for its first annual GDP decline since 2009 as social unrest has dragged on for more than half a year.
Hong Kong SMEs mostly focus on export business for foreign buyers — like those in the United States.
Hong Kong has kept its rates unchanged after previous US rate hikes. Considering the weakness of the Hong Kong dollar, which has sunk to the level that would trigger central bank intervention under the linked exchange rate mechanism, Hong Kong may have no choice but to fall in line with the US sooner or later.
His office said in a statement on Tuesday that he would comply with the prosecutors' summons, but indicated that he wants to reschedule the date.
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Hong Kong, Macao and Taiwan residents who work, study or live on the Chinese mainland will be eligible for the national social insurance as of next month.
His shop is located on the fifth floor of SEG Electronics Market, one of the biggest malls on Huaqiang North, dubbed the country's No 1 electronics street. The whole floor used to be for selling computers, but they are now pushed to the back of counters, collecting dust. In about one year, the market has emerged as one of the largest distribution centers of cryptocurrency mining machines in China.
His store on e-commerce platform Taobao, on the other hand, has appraised 20,000 luxury items, mostly bags, since 2006. Meanwhile, together with his team, he has also partnered with a company as the provider of luxury products appraisal services and takes an average of 2,500 orders every month.
Home-sharing, a concept hugely popular in Western countries, has not been an easy sector for overseas firms in China. Chen said in a statement last year that only local companies with a strong domestic market focus can hope to gain leadership in the Chinese market.