Hong Kong eliminated a regulation that required foreign broadcasters to use the Hong Kong Telecom International satellite uplink rather than their own uplink. It also has promised comprehensive liberalization of the broadcasting regime. However, the agreement does not permit code sharing or allow U.S. carriers new fifth freedom passenger rights to carry passengers beyond Hong Kong. These factors will limit expansion of U.S. passenger carriers in the Hong Kong market. Since 1994, these banks have been allowed to open a regional and a branch office at separate sites.
Foreign banks can acquire local banks that have unlimited branching rights.
The Hong Kong Government neither protects nor directly subsidizes manufacturers. It does not offer exporters preferential financing, special tax or duty exemptions on imported inputs, resource discounts, or discounted exchange rates. The Trade Development Council, a quasi-governmental statutory organization, engages in export promotion activities and promotes Hong Kong as a hub for trade services. The Hong Kong Export Credit and Insurance Corporation provides insurance protection to exporters. Hong Kong passed a new Copyright Law in June 1997.