The value of Hong Kong's total exports decreased to $338.3 billion in April, down 13% on the same month last year, the Census & Statistics Department announced today. The value of imports of goods decreased 11.9% to $374.9 billion for the same period. A trade deficit of $36.6 billion, or 9.8% of the value of imports, was recorded in April. Comparing the three-month period ending April with the preceding three months on a seasonally adjusted basis, the value of exports rose 15.4%, while that of imports increased 10.7%. The Government noted that the value of merchandise exports declined further from a year earlier in April. Exports to the Mainland, the US and the European Union all shrank and exports to other major Asian markets recorded decreases of varying degrees. Looking ahead, it added that the weakness in the advanced economies will continue to weigh on Hong Kong's export performance, though the expected faster recovery of the Mainland economy should
Secretary for Justice Teresa Cheng today signed a memorandum of understanding on the administration of the Legal Talent Recruitment Scheme (Trainee Solicitors).
The memorandum was signed with Law Society of Hong Kong President Melissa Pang.
Funded by the Anti-epidemic Fund, the scheme provides the monthly salary subsidy of $6,800 for a maximum of 12 months to each eligible law firm for one newly created job opening for a trainee solicitor, with up to 130 new job openings for trainee solicitors in total.
The scheme will not only create new job opportunities during the pandemic, but also ensure a steady and sufficient supply of legal talents in alignment with the Government’s policy objectives to advance the rule of law.
The Government also aims to strengthen Hong Kong’s development as a centre for international legal and dispute resolution services under the National 14th Five-Year Plan and the Guangdong-Hong Kong-Macao Greater Bay Area development plan.
The scheme will be open for application from July 5 to November 5.
The Law Society will be responsible for processing and assessing the applications, as well as arranging the subsidy’s disbursement.
Ms Cheng expressed her appreciation to the Law Society for developing and administering the scheme, which is expected to benefit young professionals and the legal sector in general.
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