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July goods exports up 20.1%

The volume of Hong Kong's total goods exports increased 20.1% year-on-year in July, the Census & Statistics Department announced today.   The volume of goods imports for the month rose 19.5% over July 2020.   Prices of goods exports and imports increased 5.6% and 5.5% year-on-year for the month.   On a seasonally adjusted basis, the volume of goods exports fell 5.3% in the three-month period ending July compared with the preceding three months, while the volume of goods imports decreased 0.8%.   Comparing the first seven months of the year with the same period in 2020, the volume of goods exports rose 25.3%, while that of goods imports increased 22.7%.   Prices of goods exports for the period increased 3.4%, while that of goods imports rose 3.3%. http://dlvr.it/S7hMTp

Arbitration law changes proposed

The Government will introduce legislative amendments to the Arbitration Ordinance. The bill will be gazetted on February 19 and introduced into the Legislative Council on February 24.    The amendment aims to fully implement the Supplemental Arrangement Concerning Mutual Enforcement of Arbitral Awards between the Mainland and the Hong Kong Special Administrative Region signed between the Hong Kong SAR Government and the Supreme People's Court of the People's Republic of China last year.   The purpose of signing the supplemental arrangement is to bring it more fully in line with the current practice of international arbitration, including aligning the definition of the scope of arbitral awards with the prevalent international approach of "seat of arbitration" under the New York Convention.   It also allows parties to make simultaneous applications to both the courts of the Mainland and the Hong Kong SAR for enforcement of an arbitral award.   The Government noted that the implementation of the supplemental arrangement in full will be conducive to the promotion of the development of Hong Kong's legal and dispute resolution services.   It added that Hong Kong's status as an international legal hub for legal, deal-making and dispute resolution services will be further enhanced. 
http://dlvr.it/Rsxchj

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