Month: June 2025

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Gold delivery vault launched

Source: Hong Kong Information Services

The Financial Services & the Treasury Bureau welcomed the launch of the Shanghai Gold Exchange (SGE)’s first offshore gold delivery vault in Hong Kong and the listing of relevant gold contracts for delivery in Hong Kong on its International Board today.

 

Secretary for Financial Services & the Treasury Christopher Hui said that the SGE’s decision to establish its first International Board certified vault in Hong Kong offers international investors an option for delivering gold offshore, marking a key stride in the internationalisation of the country’s gold market, extending the global footprint of renminbi-denominated gold trading, and further strengthening Hong Kong’s role in the regional market.

 

The Hong Kong Special Administrative Region Government is pushing ahead with the development of an international gold trading centre in Hong Kong to tap into new growth areas for financial services as well as to consolidate and enhance the city’s status as an international financial centre.

 

Mr Hui highlighted that the SGE’s establishment of a certified vault in Hong Kong will attract more international investors to participate in the SGE’s trading and increase gold storage in Hong Kong, thus driving the development of related services, giving impetus to the development of an international gold trading centre.

He added that Hong Kong has unique advantages under the “one country, two systems” principle and is able to provide comprehensive financial, logistics, and shipping services. Coupled with a deep offshore renminbi liquidity pool, international institutional investors will enjoy facilitation in their participation in gold trading with delivery in Hong Kong.

 

The Hong Kong SAR Government and the Shanghai Municipal Government signed the Action Plan for Collaborative Development of Shanghai and Hong Kong International Financial Centres.

 

Mr Hui said he looks forward to the further deepening of co-operation, expansion of mutual market access between the two markets, and scaling up of two-way participation between Hong Kong and Shanghai by complementing the advantages of the two leading international financial centres under the “one country, two systems” framework.

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FS attends 10th Annual Meeting of Board of Governors of Asian Infrastructure Investment Bank in Beijing (with photos/video)

Source: Hong Kong Government special administrative region

     The Financial Secretary, Mr Paul Chan, attended the 10th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) in Beijing today (June 26). He also held separate meetings with the Minister of Finance, Mr Lan Fo’an, and the President of the AIIB, Mr Jin Liqun.
 
     Mr Chan participated in the opening ceremony of the annual meeting and joined the subsequent Governors’ Official Session.
 
     During the meeting, he witnessed the signing of a strategic partnership agreement between the Hong Kong Monetary Authority (HKMA) and the AIIB.  Under the partnership agreement, the HKMA will collaborate closely with the AIIB to support venture capital in emerging Asia to jointly support the emerging economies in the region to drive green transformation and development of infrastructure through scientific and commercial innovation.
 
     Speaking about the agreement, Mr Chan said, “Energy transition and infrastructure development of the Global South require substantial financial investment and support from technological applications in various fields. This collaboration combines and leverages the knowledge, experience, networks, and strengths of the HKMA and the AIIB. It supports emerging Asian economies in accelerating their development towards more prosperous and inclusive growth through innovation and technology. Additionally, it aids in building a more vibrant venture capital and innovation ecosystem within the region and further reinforces Hong Kong’s status as an international financial, innovation and technology centre.”
 
     Mr Chan later met with the President of the AIIB, Mr Jin Liqun. He expressed Hong Kong’s willingness to further enhance collaboration with the AIIB amid the ongoing reshaping of the global economic landscape and the development challenges faced by emerging economies. Such initiatives can include issuing bonds in more currencies and of various tenors, advancing investment co-operation in infrastructure loan securitisation and catastrophe bonds, and mobilising private capital to support Asia’s green and sustainable development projects and relevant technological proposals. He also reiterated Hong Kong’s support for the AIIB to establish an office in Hong Kong and said he looks forward to the proposal’s early implementation.
 
     Subsequently, Mr Chan called on the Minister of Finance, Mr Lan Fo’an, where both parties exchanged in-depth views on the economic and social development of the Mainland and Hong Kong. Mr Chan briefed Mr Lan on Hong Kong’s latest developments in financial markets, innovation and technology, and public finance. He highlighted that, with Hong Kong’s financial market advancing steadily and international investors’ confidence strengthening, the Hong Kong Special Administrative Region Government will continue to fully support the issuance of RMB Sovereign Bonds in Hong Kong. Efforts will also be made to enrich investment products and risk management tools, enhance RMB liquidity, and improve financial infrastructure to build a more prosperous offshore RMB business ecosystem.
 
     Mr Chan concluded his visit to Beijing today and will return to Hong Kong in the evening.

                    

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S for Housing attends Asia Pacific Network for Housing Research 2025 Conference at Tsinghua University (with photos)

Source: Hong Kong Government special administrative region

S for Housing attends Asia Pacific Network for Housing Research 2025 Conference at Tsinghua University  
     The APNHR is an international organisation focusing on housing issues in the Asia-Pacific region. The conference was held at Tsinghua University this year with the theme “Towards Resilience and Inclusivity: Adapting to Multifaceted Challenges in the Asia-Pacific Region”. The conference convened experts and scholars in the fields of architecture, urban planning, sociology, environmental studies, and others from the Asia-Pacific region to have in-depth exchanges on the housing development and challenges in the region, and to jointly explore ways to promote innovative housing construction and development directions. Participants included professors and students from Tsinghua University and relevant trade representatives.
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     Ms Ho attended the roundtable session of the conference in the morning. She shared the opportunities and challenges in housing development faced by the Housing Bureau (HB) of the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Housing Authority (HKHA). She said that the current-term HKSAR Government has actively addressed Hong Kong’s housing problems since taking office, overcoming livelihood issues and addressing people’s concerns by identifying sites and enhancing the quantity, speed, efficiency and quality of public housing construction. The HB is working full steam ahead on implementing groundbreaking innovative policy initiatives, such as Light Public Housing (LPH) and Basic Housing Units, to tackle the “long-standing, big and difficult” issue that has plagued Hong Kong for many years and to provide the grassroots with options to improve their living environment and quality of life. The HKHA, established over 50 years ago, has long been providing affordable rental housing to low-income families with housing needs. It continuously enhances the housing ladder to help low- to middle-income families gain access to subsidised home ownership, encouraging them to move up the housing ladder and thus enhance people’s sense of contentment and happiness.
 
     Ms Ho said that Hong Kong, with its distinctive advantages of enjoying strong support from the motherland and being closely connected to the world, has leveraged the strengths of the Mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area in smart construction. The HB and the HKHA have been making use of various innovative construction technologies, such as Modular Integrated Construction (MiC), construction robots and smart project management platforms, to enhance construction efficiency and build LPH expeditiously, so as to improve the living conditions of those who are inadequately housed as soon as possible.
 
     She also introduced at the conference the “Well-being design” guide launched by the HB and the HKHA last year. It covers eight well-being concepts, namely “Health & Vitality”, “Green Living and Sustainability”, “Age-Friendliness”, “Intergenerational & Inclusive Living”, “Family & Community Connection”, “Urban Integration”, “Upward Mobility” and “Perception & Image”. The guide serves as a reference for the future design of new public housing and the improvement works of existing public rental housing estates, with a view to creating a more comfortable and vibrant living environment for public housing tenants. Apart from housing construction, the HKHA has also continued to enhance management efficiency and service quality of its nearly 200 public rental housing estates by actively promoting smart estate management and introducing new technologies to optimise estate management and building maintenance services, to provide a better living environment for its residents.
 
     In the afternoon, Ms Ho visited the Qingtangwan public rental housing project in Beijing. This project is a green residential area that adopted the use of prefabricated components and environmental monitoring platforms, among others, that facilitate energy saving and decarbonisation and promote a low-carbon lifestyle. It also implements smart community management through community apps. This is in line with the HKHA’s direction of promoting smart estate management through innovative technologies, which is of reference value to Hong Kong.
 
     Afterwards, Ms Ho met with the Deputy Director-General of the Bureau of International Cooperation of the State-owned Assets Supervision and Administration Commission of the State Council, Mr Xie Hui, to exchange views on housing design and planning. She also shared the adoption of advanced construction technologies from the Mainland in Hong Kong and the outcomes. She mentioned that this year, under the Housing•I&T initiative, the HB will organise a series of activities and visits, including an international symposium to be held in Hong Kong in November, to showcase to the world the latest developments of construction technologies in Mainland China and Hong Kong. The HB will fully capitalise on Hong Kong’s unique advantages of connecting with both the Mainland and the rest of the world and play the role of a “super connector” and a “super value-adder”. She expressed hope that friends from around the world could attend the symposium to be hosted by Hong Kong at the end of this year.
 
     Yesterday (June 25), Ms Ho visited the Better House Living Tech Lab and was briefed on the practice of combining housing design concepts of quality homes and technologies on the Mainland. Some examples are the installation of age-friendly facilities such as handrails and sensor lights, and the External Wall Three-Axis Surveillance System for monitoring the old exterior walls’ stability, to create a safe and eco-friendly smart living environment.
 
     Ms Ho will continue her visit to Beijing tomorrow (June 27) before returning to Hong Kong.
Issued at HKT 18:09

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Commissioner for Belt and Road leads delegation to Indonesia and Malaysia to promote Hong Kong’s professional services

Source: Hong Kong Government special administrative region

     The Commissioner for Belt and Road, Mr Nicholas Ho, led a delegation to Indonesia and Malaysia to promote Hong Kong’s professional services related to infrastructure and construction and to explore opportunities for co-operation. The visit concluded today (June 26).
 
     The delegation visited Jakarta, Indonesia, on June 23 and 24, and Kuala Lumpur, Malaysia, on June 25 and 26 to meet with government officials, business leaders and representatives of professional organisations and enterprises of the two places.
 
     The delegates visited the Daya Anagata Nusantara Investment Management Agency and the Investment Coordinating Board in Indonesia, as well as the Public Private Partnership Unit of the Prime Minister’s Department and the Malaysian Investment Development Authority in Malaysia, to learn about the latest economic and infrastructure developments in the two places. While in Malaysia, they also met with the Minister of Transport of Malaysia, Mr Loke Siew Fook, to exchange views and understand the planning and development of Malaysia’s transportation system, with a view to exploring opportunities for Hong Kong’s professional services to participate and contribute.
  
     In addition, the delegation attended presentations of signature projects in the two places, directly connecting with representatives of local enterprises to explore commercially viable investment and co-operation. They also attended business luncheons hosted in the two places by the Belt and Road Office with the support of the Hong Kong Economic and Trade Office in Jakarta to promote Hong Kong’s business advantages to around 200 local business leaders. Apart from the delegates, around 20 representatives from Hong Kong enterprises and organisations also took part in some of the exchange sessions. During the visit period, Hong Kong representatives signed 21 Memoranda of Understanding with their partners in Indonesia and Malaysia, covering such areas as business collaboration and exchanges in professional services.
 
     During the stay in Jakarta, Mr Ho also visited a data centre, an investment development project of a Hong Kong company, to learn about how the data centre contributes to the development of the Digital Silk Road in promoting connectivity.
 
     Mr Ho said, “The Association of Southeast Asian Nations is Hong Kong’s second-largest trading partner and a key link in the Belt and Road Initiative. Indonesia and Malaysia are both undergoing rapid infrastructure development, and there is huge demand for professional services in large-scale projects such as the new capital city of Nusantara in Indonesia and the mass rapid transit system in Malaysia. Hong Kong, as a ‘super connector’ and a ‘super value-adder’, is connected to international standards in fields such as financing, law, construction engineering, project management, logistics and transportation, and innovative technology. We also have a deep pool of professionals with experience especially in taking forward public-private partnerships in infrastructure projects, presenting extensive room for collaboration with Indonesia and Malaysia to seize the opportunities brought by the Belt and Road Initiative.”
 
     He added that as an international financial and trade centre, Hong Kong possesses the advantages of convergence of capital and talent, and is committed to giving full play to its role as a functional platform for the Belt and Road, striving for solid progress in pursuing high-quality Belt and Road co-operation. As announced in “The Chief Executive’s 2024 Policy Address”, the Government will continue to pay visits and lead business and professional services delegations to priority markets such as Belt and Road countries.
 
     The delegation comprises around 20 representatives from professional services and commercial sectors, including small and medium-sized enterprises. The visit is supported by the Professionals Participation Subsidy Programme under the Government’s Professional Services Advancement Support Scheme. Hong Kong professionals from eligible professional sectors can apply for the subsidy to join the visit to promote Hong Kong’s competitive edges and professional services.

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Hospital Authority announces senior appointment

Source: Hong Kong Government special administrative region – 4

The following is issued on behalf of the Hospital Authority:

The Hospital Authority (HA) spokesperson announced the following senior appointment today (June 26):

Dr Cheng Koi-man will be appointed as Hospital Chief Executive of Kwai Chung Hospital with effect from July 1, succeeding Dr Desmond Nguyen upon his retirement.

Dr Cheng is a specialist in psychiatry with solid experience in both clinical service and hospital management. Dr Cheng is the Chief of Service and a consultant in the Department of General Adult Psychiatry of Castle Peak Hospital (CPH). He has dedicated himself to psychiatry since graduation, and has taken up the role of Deputy Service Director (Quality & Safety) for New Territories West Cluster from 2017 to 2024. As the chairman of various committees, working groups and task groups under the Coordinating Committee in Psychiatry, Dr Cheng contributed to a wide range of aspects related to psychiatry from talent acquisition, standardisation of patient care pathways, and resources utilisation. He led the development of the enhanced common mental disorder clinics, spearheaded the revision of the psychiatric specialist outpatient clinic defaulter tracing workflow, and established a three-tier psychiatric day hospital service model to enhance patient care, in addition to facilitated ward conversions to meet evolving demands. He also led the implementation of telehealth services.

The Chairman of the HA, Mr Henry Fan, and the Chief Executive of the HA, Dr Tony Ko, congratulate Dr Cheng on his new appointment and wish him every success in taking up the new role. Mr Fan and Dr Ko also expressed their appreciation to Dr Nguyen for his dedicated service over the years and wish him a happy retirement.

  

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Arrangements for LCSD’s Mobile Library services

Source: Hong Kong Government special administrative region

Arrangements for LCSD’s Mobile Library services

Mobile Libraries 4, 8 and 11 will suspend services during designated periods in July for maintenance, while a Mobile Library 4 service point in Tung Chung will also be relocated in July, a spokesman for the Leisure and Cultural Services Department announced today (June 26).

Mobile Library 4 will suspend services from July 2 to 8. The affected service points are Yat Tung Estate in Tung Chung, Discovery Bay, Pui O, Shui Hau and Tong Fuk. Starting from July 9, the service point at Yat Tung Estate in Tung Chung will be relocated to the area adjacent to Chi Yat House from Ying Yat House. The opening hours of the service point will remain unchanged, i.e. from 10am to 1pm, and 2pm to 6pm every Monday and Wednesday (except library closing days and public holidays). For enquiries about Mobile Library 4 services, please call 2984 9417.

Mobile Library 8 will suspend services from July 7 to 19. The affected service points are Laguna City in Lam Tin, On Tai Estate in Kwun Tong, Po Tat Estate in Sau Mau Ping, Tai Hang Tung Estate on Tai Hang Tung Road, Laguna Verde in Hung Hom, Choi Fook Estate in Kowloon Bay and Yau Lai Estate in Yau Tong. For enquiries about Mobile Library 8 services, please call 2926 3055.

Mobile Library 11 will suspend services from July 9 to 22. The affected service points are Sun Chui Estate and Kwong Yuen Estate in Sha Tin; Kwai Shing West Estate, Kwai Shing East Estate and Lai Yiu Estate in Kwai Chung; Easeful Court and Cheung Ching Estate in Tsing Yi; Tin Wah Estate in Tin Shui Wai; Wan Tau Tong Estate and Tai Yuen Estate in Tai Po; and Po Tin Estate in Tuen Mun. For enquiries about Mobile Library 11 services, please call 2479 1055.

Readers are welcome to use other public libraries during the service suspension periods. They may also renew library materials by telephoning 2698 0002 or 2827 2833, or via www.hkpl.gov.hk.

Ends/Thursday, June 26, 2025
Issued at HKT 15:00
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FSTB welcomes Shanghai Gold Exchange’s launch of International Board certified vault in Hong Kong

Source: Hong Kong Government special administrative region

FSTB welcomes Shanghai Gold Exchange’s launch of International Board certified vault in Hong Kong???
     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “The SGE’s decision to establish its first International Board certified vault in Hong Kong offers international investors an option for delivering gold offshore. This marks a key stride in the internationalisation of our country’s gold market, extending the global footprint of RMB-denominated gold trading, and further strengthening Hong Kong’s role in the regional market. The Government is pushing ahead with the development of an international gold trading centre in Hong Kong to tap into new growth areas for financial services as well as to consolidate and enhance Hong Kong’s status as an international financial centre. As such, I have engaged with various stakeholders from overseas and the Mainland during my recent duty visits to gather their views on this initiative. The SGE’s establishment of a certified vault in Hong Kong will, on one hand, attract more international investors to participate in the SGE’s trading and, at the same time, increase gold storage in Hong Kong, thus driving the development of related services. This will undoubtedly give impetus to our development of an international gold trading centre.”

He added, “Hong Kong has the unique advantages under the ‘one country, two systems’ principle and is able to provide comprehensive financial, logistics, and shipping services. Coupled with a deep offshore Renminbi liquidity pool, international institutional investors will enjoy facilitation in their participation in gold trading with delivery in Hong Kong. Last week, the Hong Kong Special Administrative Region Government and the Shanghai Municipal Government signed the Action Plan for Collaborative Development of Shanghai and Hong Kong International Financial Centres. This case stands as a successful example of Shanghai-Hong Kong collaborative development. I look forward to the further deepening of co-operation, expansion of mutual market access between the two markets, and scaling up of two-way participation between Hong Kong and Shanghai by complementing the advantages of the two leading international financial centres under the ‘one country, two systems’ framework.”Issued at HKT 17:34

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Reformed hiring policy for LCSD performance venues and invitation for participation in sixth round of Venue Partnership Scheme announced

Source: Hong Kong Government special administrative region

     The Leisure and Cultural Services Department (LCSD) today (June 26) announced a reformed hiring policy and measures for its performance venues, aiming to provide more performance slots for use by different arts groups and establish clearer venue identities, thereby fostering a diversified, professional, industry and mega-event development of performing arts. 

     The reformed measures include the following:    
     The sixth round of the VPS will be implemented at 11 performance venues, namely the Hong Kong Cultural Centre, Hong Kong City Hall, Yau Ma Tei Theatre, Ngau Chi Wan Civic Centre, Sai Wan Ho Civic Centre, Sheung Wan Civic Centre, Sha Tin Town Hall (Cultural Activities Hall), North District Town Hall, Kwai Tsing Theatre, Tsuen Wan Town Hall and Tuen Mun Town Hall. 

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Mainland-listed software provider establishes international headquarters in Hong Kong to “go global” (with photo)

Source: Hong Kong Government special administrative region

Mainland-listed software provider establishes international headquarters in Hong Kong to “go global” (with photo)
     Associate Director-General of Investment Promotion Mr Charles Ng welcomed the decision of Information2 Software to set up its international headquarters in Hong Kong. He said, “As an international business and financial hub, Hong Kong attracts multinational corporations and small and medium-sized enterprises to set up their presence in the city. They have a strong demand for reliable, stable, and secure disaster recovery backup systems to prevent data breaches and cyber attacks, providing huge business opportunities for software providers like Information2 Software. Hong Kong is the perfect base for their internationalisation.”

     The Chairman and Chief Executive Officer of Information2 Software, Mr Justin Hu, said, “The Hong Kong office not only provides better services to customers in Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area, but also deepens our co-operation with local partners to provide more local market-oriented support. The city is also our starting point to expand into the Southeast Asian and global markets. We can leverage its international legal framework and financial services system to facilitate our ‘going global’ strategy.”

     Mr Hu added, “Hong Kong has an open, efficient, and internationalised market, making it our first stop to expand globally. We hope to leverage the city’s unique advantages to establish an international platform for our operations. We position Hong Kong as the headquarters for our overseas business, with future plans to develop it into an international market and a research and development base for international talent, further building a comprehensive marketing and service system, and making it a key foundation in our global strategic plans.”

     Listed on the Shanghai Stock Exchange’s Science and Technology Innovation Board (STAR Market) in January 2023, Information2 Software is a leading provider of data backup and disaster recovery on the Mainland. The company has established over 30 outlets on the Mainland. Mr Hu said, “In recent years, we have been continuously advancing our global layout. With its highly open business environment, sound legal system, mature financial system, and multilingual, diversified talent pool, Hong Kong is our ideal platform to further serve international customers and expand overseas markets.”

     For more information about Information2 Software, please visit www.info2soft.com    
     To get a copy of the photo, please visit www.flickr.com/photos/investhk/albums/72177720327086216Issued at HKT 16:45

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HKMA and SFC conclude annual updates to Financial Services Providers list under OTC derivatives regulatory regime

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Hong Kong Monetary Authority:
 
The Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) today (June 26) issued joint consultation conclusions on the annual updates to the list of Financial Services Providers (FSP List) (Note 1) under the over-the-counter (OTC) derivatives clearing regime.
 
Having considered market feedback, the HKMA and SFC will implement the proposed changes to the FSP List as set out in the joint consultation paper (Note 2). The consultation conclusions paper and updated FSP List are available on the websites of the HKMA and SFC (Note 3).

Note 1: The FSP List includes entities that meet the following two criteria:
(a)  They belong to a group of companies that appears on either the list of global systemically important banks published by the Financial Stability Board, or the list of dealer groups which undertook to the OTC Derivatives Supervisors Group to work collaboratively with central counterparties, infrastructure providers and global supervisors to continue to make structural improvements to the global OTC derivatives markets; and
(b)  They are clearing members of the largest central counterparties offering clearing for interest rate swaps in the United States, Europe, Japan and Hong Kong.

Note 2: See the April 2025 joint consultation paper on the annual updates to the FSP List. 

Note 3: The updated FSP List will be gazetted during the fourth quarter of 2025 for implementation on January 1, 2026.