The Group of Seven (G7) industrialized nations have agreed on new rules for taxing multinational businesses, paving the way for a global tax accord. Read more in our Economic Update.

A recent RMB rally has come to a halt following the announcement by the People’s Bank of China that it will raise the foreign exchange reserve ratio for financial institutions. Read more in our Economic Update.

Hong Kong’s economy grew 7.8% year-on-year in the three months ending March 2021.

China’s economy grew by 18.3% year-on-year in the first quarter of 2021, the sharpest expansion since quarterly records began in 1992.

China is aiming for an economic growth rate of at least 6% in 2021, a goal unveiled by Premier Li Keqiang at the annual session of the National People's Congress in Beijing. The government also announced targets for consumer price inflation and budget deficit, which are respectively around 3% and 3.2% of GDP

Hong Kong’s unemployment rate reached 7% during the November-January period, up from 6.6% in the previous three-month rolling period. The latest uptick, which is in line with the Chamber’s forecast, has brought the city’s jobless situation to a level not seen in almost 17 years.

Fifteen Asia-Pacific countries signed an agreement over the weekend to form the biggest trade group in history, the Regional Comprehensive Economic Partnership (RCEP), after nearly ten years of negotiations.

With the local Covid-19 situation becoming more contained, Hong Kong’s economy registered some improvement in the third quarter. During July to September, GDP shrank by 3.5% year-on-year, compared to the contractions of 9.1% and 9% in Q1 and Q2 respectively.

The 19th Central Committee of the Communist Party of China has concluded its fifth plenary session in Beijing, laying out the framework of the 14th Five Year Plan – a blueprint for the nation’s economic and social development in the next few years – as well as ambitions for the longer term.