Laos has announced an updated tourist visa fee structure following the full reopening of the country to tourism early this month.
US President Biden Forms Economic Bloc for Indo-Pacific
US President Joe Biden has formed an economic framework with 12 Indo-Pacific nations officially named the Indo-Pacific Economic Framework.
‘Scaling Hong Kong to the Nordics’ Concludes its Delegation Visit to Finland, Sweden and Denmark, Meeting Local Companies and Investors to Explore Business Opportunities in Nordic Markets

The Hong Kong delegates set up a booth for Nordic Innovation House Hong Kong to showcase their games and digital entertainment solutions at Nordic Game and identify potential business partners and investors in the region.
The delegation visited Helsinki, Finland; Malmö, Sweden and Copenhagen, Denmark between 15 and 20 May. They visited well-known, large-scale Finnish game developers Supercell and Rovio, and joined the tours of Arcade 5, a Finnish co-working campus designed for digital entertainment and game development start-ups, as well as Game Habitat DevHub, Sweden’s co-working community for game developers, exchanging views with representatives of the game studios in the community. The delegation also visited the headquarters of Business Finland to learn about the local market and the business opportunities there. In addition, the delegates showcased their games and digital entertainment solutions at the Nordic Game conference in order to meet potential business partners and investors in the region.
Explore Collaboration Opportunities Between Nordic and Hong Kong Companies
Eric Chan, Chief Public Mission Officer of Cyberport, said, “The digital entertainment & esports industry has been developing rapidly around the globe. As the key promoter of the sector in Hong Kong, Cyberport strives to support industry development and diversification. At Cyberport, there are over 150 relevant start-ups and companies with businesses including game development and publishing, platforms for broadcasting tournaments and related multimedia content, and respective content management. Many have an eye on overseas markets. The delegation’s visit allows Hong Kong industry players to learn about the Nordic region’s digital entertainment and gaming industry development experience. The company visits and business meetings we arranged would facilitate collaborations with Nordic counterparts and help Hong Kong digital entertainment companies further expand their businesses internationally.”
Victor Tsang, Head of CreateHK, thanked Cyberport and FinnCham Hong Kong for organising “Scaling Hong Kong to the Nordics” during the pandemic, and for successfully leading a delegation formed by Hong Kong digital entertainment and game start-ups and scale-ups to visit the Nordic region after several postponements, which would help them explore the markets in that region.
Binh Johansson, Community Director of Nordic Innovation House, the supporting organisation which led the delegation, said, “There are tremendous business opportunities between the Hong Kong and Nordic gaming markets. Nordic game enterprises can introduce Hong Kong companies’ games to Nordic markets, co-develop new games, and invest in promising game companies. Meanwhile, Hong Kong game publishers, with their international business acumen and extensive networks, can help Nordic companies explore Asian markets. Other important factors are also the creative cultural exploration, talent and idea exchanges that this trip bring. Nordic Game is just the right platform to offer these great opportunities for industry players in the two regions to communicate face-to-face, and to understand each other better.”
Jeremy Lam, Chief Executive Officer and co-founder of PIXIO, one of the delegates, said, “In visiting the offices of different local game companies, we learned about their corporate cultures and how they conduct their affairs, an inspiring experience. In addition, the Finnish and Swedish governments are very supportive of the game industry’s development. We expect the governments to formulate targeted policies to facilitate Hong Kong companies’ entry into Nordic markets. Looking forward, we will also take advantage of the support of the Nordic governments to invite local talent to Hong Kong and help our company further develop.”
“Scaling Hong Kong to the Nordics” is a one-year programme. To enhance the opportunity for successful collaboration, the organisers held a series of advance webinars prior to the delegation visit, providing the participants with a deeper understanding of the ecosystem and the latest developments and needs of the digital entertainment industry in the Nordic countries, which include Finland, Sweden and others. The programme also arranged pre-delegation business matching with Nordic companies and investors for the participants based on their respective business and development needs.
For high resolution photos please download via this link.
About Cyberport
Cyberport is an innovative digital community with over 800 on-site start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong SAR Government. With a vision to be the hub for digital technology, thereby creating a new economic driver for Hong Kong, Cyberport is committed to nurturing a vibrant tech ecosystem by cultivating talent, promoting entrepreneurship among youth, supporting start-ups, fostering industry development by promoting strategic collaboration with local and international partners, and integrating new and traditional economies by accelerating digital transformation in public and private sectors.
For more information, please visit www.cyberport.hk
#Cyberport
About FinnCham Hong Kong
FinnCham Hong Kong connects Finnish companies, and companies with close ties to Finland, through business networking, knowledge sharing and market visibility. As an independent non-profit organisation, one of the main focus areas of FinnCham Hong Kong is to enforce its position as a reliable platform through which companies can better explore opportunities in the South China market. FinnCham Hong Kong enables companies to gain access to relevant and up to date information and connections, and provides its members value adding assistance when setting up their operations in Hong Kong and in the Mainland China.
About CreateHK
Create Hong Kong (CreateHK) is a dedicated agency set up by the Hong Kong SAR Government in June 2009. It is under the Communications and Creative Industries Branch of the Commerce and Economic Development Bureau and dedicate to spearheading the development of creative industries in Hong Kong. Its strategic foci are nurturing talent and facilitating start-ups, exploring markets, and promoting Hong Kong as Asia’s creative capital and fostering a creative atmosphere in the community. CreateHK sponsors the Finnish Chamber of Commerce in Hong Kong (FinnCham Hong Kong) to co-organise the “Scaling Hong Kong to the Nordics” with Cyberport to promote Hong Kong’s digital entertainment industry. Website: www.createhk.gov.hk
Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to the project only, and does not otherwise take part in the project. Any opinions, findings, conclusions or recommendations expressed in these materials/events (or by members of the project team) are those of the project organizers only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Communications and Creative Industries Branch of the Commerce and Economic Development Bureau, Create Hong Kong, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.
Steady Growth in Investment Activities in 1H 2022, Full-Year Transaction Volume Expected to Reach HK$70 billion
East Rail Line Extension to Drive Future Capital Appreciation in Adjacent Districts
HONG KONG SAR – Media OutReach – 24 May 2022 – Global real estate services firm Cushman & Wakefield today presented its 1H 2022 Hong Kong investment market overview and forecast. Impacted by the fifth wave of the pandemic, investment activities in Q1 2022 were slowed down, dampening the large deal transaction (deal size of over HK$100 million) count in the quarter. However, although this period has delayed investors’ decision making, it has not diminished investment confidence in the city. Investment activities in Q2 picked up demonstrably, showing promising signs for a further recovery in the second half of the year. The full year’s transaction volume is expected to reach HK$70 billion, with industrial assets and development sites continuing to be sought-after. Meanwhile, the opening of the East Rail Line cross-harbour line will also benefit and spur capital appreciation for adjoining properties.

Figure 1: Annual CRE investment deals and consideration in the last decade (as of 15 May)
Figure 2: Transactions by sector in 1H 2022 vs. 10-year historical average (as of 15 May)
Figure 3: Investment transactions by investor type
Overview of 1H 2022 Investment Transactions
The fifth wave of the pandemic put investment decisions largely on hold, subsequently delaying investment activities. For the year-to-date period as at mid-May 2022, the investment market recorded a total of 43 transactions, at an average deal size of HK$498 million, recording a total consideration of HK$21.4 billion (Figure 1).
Keith Chan, Director and Head of Research, Hong Kong, Cushman & Wakefield said, “The average deal size has trended downwards due to the continuation of the pandemic, as investors buckled up and focused on investments with smaller capital lump sums. We expect that the large transaction deal count will reach 50 deals in the first half of 2022, with total consideration forecast to hit HK$28 billion. With the pandemic being gradually contained, it is expected that the investment sentiment will improve in the second half of the year.”
Investment Transactions by Sector
Among all property sectors, industrial assets, hotels, and development sites were the most active in 1H 2022. Industrial buildings accounted for a 32% share of the total consideration, surpassing the historical 10-year average of 15%. (Figure 2). Hotel assets also saw traction, with a significant increase in deals driving a 20% share of the total consideration, up fivefold on last year on a like-for-like basis. Development sites’ transaction volume also recorded a similar expansion to hotel assets, taking a 20% share of the total volume, far exceeding the average of 9% in the last decade. The key factor here has been the continuing strong self-use demand for residential properties, with developers actively acquiring suitable residential sites to meet future housing demand.
A boom in hotel transactions in the first half of the year is noteworthy, with several headline acquisitions recorded. Keith Chan commented, “The significant reduction in tourism activities has adversely affected the hotel business in the city, and many hotel owners have been willing to sell assets at a discounted price. At the same time, in light of the persistently strong housing demand, foreign real estate funds have been encouraged to collaborate and form joint-ventures (JVs) with local operators, seeking to further purchase distressed hotel properties for value-add conversions such as co-living and multi-family uses.”
Investor Breakdown
Tom Ko, Executive Director and Head of Capital Markets, Hong Kong, Cushman & Wakefield, said, “In terms of the funding sources, local investors continued to dominate the market as border restrictions remain in place, accounting for over 56% of total transactions. Nevertheless, several prominent investment funds took advantage of the quiet market and looked to bargain-hunt. During this period, funds accounted for 42% of total transactions, a significant increment of 14% compared with 1H 2021. Amongst them, most industrial and hotel deals were purchased by foreign funds forming JVs with local operators, providing financial support for business expansion. Relatively speaking, mainland China investors were quieter than last year, accounting for just 2% of the total transaction volume (Figure 3).”
New Market Spotlights
The East Rail Line cross-harbour extension, together with properties within the Northern Metropolis area, will be the future market spotlight. With the official opening of the East Rail Line cross-harbour section, the mass transportation extension to Hong Kong Island is now robust. It is expected to benefit and drive capital appreciation in properties located along the rail line, especially in the Wan Chai North district and around the Hong Kong Convention and Exhibition Centre, with the buyers’ market as the focus. In addition, the future development of the Northern Metropolis area and infrastructure provisions will further support the New Territories North area. The expected completion of the Kwu Tung station in 2027, connecting with Lok Ma Chau station, will further provide transport support to residents in the New Territories North. The Kwu Tung, San Tin, and Hung Shui Kiu areas are all expected to benefit and to attract major developers for investment.
Market Outlook
As the fifth wave of the pandemic comes under control, the investment market will gradually recover into the second half of the year. Tom Ko concluded, “Industrial properties, hotels, and development sites are expected to remain attractive for investors. Particularly, industrial assets will be a priority for investors, as their flexibility for conversion to warehouses and data centers remains popular to meet new economy demands. Development sites will be further accelerated due to future infrastructure provisions such as rail extensions, which will subsequently drive capital appreciation and population growth. Foreign funds will likely remain active, strengthening local operators for further JVs and expediting greater funds to allocate and invest in the city’s real estate market. We expect the 2022 full-year investment total transaction volume to reach HK$70 billion, outperforming 2020 and 2019 levels.
Please click here to download the photo and presentation deck.
Photo caption:
Photo: (Right to left) Tom Ko, Executive Director and Head of Capital Markets, Hong Kong, Cushman & Wakefield and Keith Chan, Director and Head of Research, Hong Kong, Cushman & Wakefield
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. Across Greater China, 22 offices are servicing the local market. The company won four of the top awards in the Euromoney Survey 2017, 2018 and 2020 in the categories of Overall, Agency Letting/Sales, Valuation and Research in China. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com
.hk or follow us on LinkedIn (
https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
#Cushman&Wakefield
TRON Founder Justin Sun Attends the Inaugural NFTBERLIN with His Twelve Digital Zodiac Heads Collection

NFTBERLIN is a community-led unconference and exhibition focusing on the innovative development of NFT. The inaugural event will be held in Berlin, Germany, from May 25 to May 27, where creators, collectors, artists, and other art enthusiasts worldwide will meet to discuss the trends and future of the NFTverse.
The NFTBERLIN event consists of three sessions: an NFT art exhibition, symposium, and Hackathon. Themed on the NFT, the symposium will invite well-known artists, collectors, and platforms in the NFT space both home and abroad to interpret the history, present, and future of NFTs through speeches, dialogues, round table discussions, etc. The NFT art exhibition will be held in Alte Münze, Berlin, from May 25 to 26 and will feature works by renowned and emerging artists from around the world, including the Twelve Digital Zodiac Heads previously bought by Justin Sun at ¥9,832,500. This collection was created based on the traditional Chinese Zodiac signs and minted as NFTs with blockchain technology. It is the only set in existence.
An art collector and an early NFT practitioner, Justin Sun was also invited to this NFTBERLIN event. Sun has acquired many works by world-renowned artists in the past two years, including the Twelve Digital Zodiac Heads, Beeple’s Ocean Front, and Fewocious’ My Mama’s Dream, which will be featured in the NFTBERLIN art exhibition. He has also clinched Picasso’s Femme Nue Couchée au Collier (Marie-Thérèse), Andy Warhol’s Three Self Portraits, and Alberto Giacometti’s The Nose, among other masterpieces, with a combined worth of over ¥1 billion.
NFTBERLIN is Europe’s largest offline NFT event initiated by DAOs to date. Aiming to bring together outstanding independent crypto artists to prove that “the whole is greater than the sum of its parts” and promote the development of crypto art further, the event has attracted many institutions and big names from the industry.
#TRONDAO
Lao Athletes Return Home after SEA Games Officially Closes
Athletes from Laos have completed all competition programs at the 31st Southeast Asian Games in Hanoi, Vietnam.
Thailand Prepares Monkeypox Monitoring Center
Thailand has established an emergency operation center to monitor the spread of the monkeypox virus.
Break Your Own Norm: Unlock Possibilities with BYON – a New Consumer Financial Services Brand that Empowers Every Imagination
As technology evolves, we should also be agile and move beyond rigidity and traditional perceptions in every aspect – including wealth management. BYON is devoted to enabling clients to excel with their own ideas. By breaking through the boundaries of conventional financial services, BYON walks shoulder to shoulder with those who dare to go beyond limits, empowering youths to be bold and to excel in their chosen area.
“Despite their colourful and out-of-the-box aspirations, youths are often constrained by traditional financial models, and many of their creative ideas are delayed as a result,” said Princeton Wong, BYON’s Head of Consumer Finance / Head of Fintech. “We strive to provide the most customised financial service solutions such that every customer can ‘go beyond and further’ with our ‘byonABLE’ offering. We are here to help reshape thinking and unleash potentials – to support new chapters in life across different dimensions.”
BYON believes that cross-disciplinary financial service solutions could bring a host of convenience, imaginative possibilities, and most of all, fun to everyone. The brand is committed to continual product innovation through research and development. It envisages expanding new fintech horizons in lifestyle aspects such as dining, shopping, recreation, and even in the metaverse. To celebrate the official launch of the brand, BYON has prepared HKD 1 million worth of welcome gifts -customers can get a chance to win fabulous prizes, as well as enjoy interest-free payment holidays. The BYON GO! Promotion Truck will tour around popular places in Hong Kong as scheduled below:
· 27-29 May : 37 Paterson Street, Causeway Bay (outside Don Don Donki)
· 3 – 5 June : 6-12 Sai Yeung Choi Street South, Mong Kok (outside Broadway Cinema)
· 10 – 12 June : 30 Canton Road, Tsim Sha Tsui (outside Silvercord Centre)
The public is welcome to take part in the interactive games on the BYON GO! Promotion Truck. Game participants will be eligible to enter the “BYON GO FUN” social media game and stand the chance to win a long list of spectacular gifts, including AT Points cash vouchers, Disneyland Hong Kong annual passes, Apple AirPods Pro, Apple iPad Air, Dyson Supersonic hair dryers, and the super grand prize of a 2D1N Yachtcation worth HKD60,000!
Customers who successfully apply for byonABLE during the promotion period of 27 May to 30 June will enjoy a one-month interest-free payment holiday.
Success begins with wise money management. Whether you are planning to kick start your further studies, seize investment opportunities, or enjoy the moment with fun living, BYON is here with you. Be bold in uncovering the infinite possibilities of life.
For more information, please visit BYON’s corporate website: www.byon.com.hk
BYON is a brand under ORIX Finance Services Hong Kong Limited. Money lender’s license: 1800/2021.
Warning: You have to repay your loans. Don’t pay any intermediaries.
Customer service / Complaint hotline: (852) 2862 9119
About BYON
Launched in 2022, BYON is a next-gen consumer financial services brand focusing on digitalized and innovative consumer finance products. The brand’s name is the acronym of Break Your Own Norm. BYON envisions to challenge the norms of traditional financial services and is keen to open up the infinite possibilities of life with aspiring youths.
BYON is devoted to enable clients to excel with their own ideas. By breaking through the boundaries of traditional financial services, BYON walks shoulder to shoulder with those who dare to go beyond limits, empowering youths to be bold and to excel in their chosen area.
BYON is a brand under ORIX Finance Services Hong Kong Limited, a member of the ORIX group. ORIX Corporation (Tokyo Stock Exchange (8591) and New York Stock Exchange (IX)) is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers, with operations in 37 countries and regions worldwide (as of 31 March 2020). Backed by a global vision and sound financial strengths, BYON will bring customers more empowering and less restrictive dynamic solutions to support their financing needs. For more information, please visit the corporate website: www.byon.com.hk
#BYON
The issuer is solely responsible for the content of this announcement.