Month: June 2025

Source: Hong Kong Government special administrative region

     The Census and Statistics Department (C&SD) released today (June 20) the preliminary Balance of Payments (BoP) and International Investment Position (IIP) statistics of Hong Kong for the first quarter of 2025. This release also included the preliminary External Debt (ED) statistics of Hong Kong for the same period.

I. Balance of Payments 
     Statistics on BoP, IIP and ED for the first quarter of 2025 are preliminary figures, which are subject to revision upon the availability of more data.

Source: Hong Kong Government special administrative region

     The Census and Statistics Department (C&SD) released today (June 20) the Consumer Price Index (CPI) figures for May 2025. According to the Composite CPI, overall consumer prices rose by 1.9% in May 2025 over the same month a year earlier, slightly smaller than the corresponding increase (2.0%) in April 2025. Netting out the effects of all Government’s one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in May 2025 was 1.0%, also smaller than that in April 2025 (1.3%). The smaller increase was mainly due to the decreases in inbound and outbound transport fares as well as the charges for package tours.

     On a seasonally adjusted basis, the average monthly rate of change in the Composite CPI for the 3-month period ending May 2025 was -0.1%, the same as that for the 3-month period ending April 2025. Netting out the effects of all Government’s one-off relief measures, the corresponding rates of change were 0.1% and 0.0%.   

Source: Hong Kong Information Services

The Government today announced the appointment of Hotchandani Mamta Chandiram and Waverly Yeung to the Women’s Commission through the Member Self-recommendation Scheme for Youth.

 

Their terms will run from July 15, 2025, to January 14, 2027.

 

Since its establishment in 2001, the commission has spared no effort in promoting the well-being and interests of women in Hong Kong and advising the Government on policies and initiatives on women’s affairs.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

     The Secretary for Commerce and Economic Development, Mr Algernon Yau, arrived in Bordeaux on June 19 (France time) to continue his visit to France.
 
     Mr Yau first held a business roundtable with representatives of La French Tech Bordeaux, a start-up network, and Bordeaux-based technology start-ups to update them on Hong Kong’s latest start-up ecosystem and business-friendly environment for start-ups and entrepreneurs to thrive.
 
     Mr Yau highlighted that Hong Kong’s start-up community has seen remarkable growth and diversification in recent years. In 2024, the number of start-ups in the city reached a record high of approximately 4 700, up about 10 per cent from the previous year. The founder base is notably diverse, with around 28 per cent of start-up founders coming from outside Hong Kong. The encouraging result is a testament to Hong Kong’s attractiveness to innovators, assisted by several key advantages such as a low and simple tax system, world-class financial services and the accessibility to both Mainland and international business opportunities. 
 
     He said the Hong Kong Special Administrative Region Government is firmly committed to positioning Hong Kong as a leading innovation and technology hub where start-ups play a pivotal role. He encouraged Bordeaux’s start-up community to expand their operations into Hong Kong, leveraging the city’s strategic position as a gateway to the vast markets on the Mainland and in Asia.
 
     Mr Yau also paid a courtesy call on the Mayor of Bordeaux, Mr Pierre Hurmic, to brief him on Hong Kong’s latest initiatives to drive economic development, such as the reduction of liquor duty, and exchange views on forging closer bilateral relations in various areas such as start-ups, and wine and liquor industries.
 
     In the evening, Mr Yau attended the Bordeaux Wine Festival, the leading wine event in France, to learn about the latest developments of Bordeaux wine and liquor.
 
     Mr Yau will continue his visit to Bordeaux. 

Source: Hong Kong Information Services

A scheme for the Smart & Green Mass Transit System in East Kowloon was published in the Government Gazette today.

Construction of the proposed 7km-long rapid transit line will commence once the scheme – which is in accordance with the Railways Ordinance – is authorised, and the work is expected to be completed by 2033 or earlier.

The system comprises nine stations. Its two termini will be connected to Choi Hung MTR Station and Yau Tong MTR Station respectively, with the line passing through Choi Wan, Shun Lee, Shun On, Sau Mau Ping, Po Tat, Ma Yau Tong and Lam Tin North. It will serve more than over 300,000 residents in Kwun Tong’s uphill areas.

The Government said the system will provide convenient transport feeder services to these areas, improving access to Choi Hung MTR Station and Yau Tong MTR Station and unleashing the development potential of East Kowloon.

The estimated journey time from Po Tat to Yau Tong or Choi Hung under the new scheme will be around ten to 15 minutes, which is about half of the journey time using road-based transport during peak hours.

Under the Railways Ordinance, members of the public have the chance to object to the scheme, and can register their objections from today until August 19. Those with compensable interests can claim compensation.

Source: Hong Kong Government special administrative region

     The Government announced today (June 20) the appointment of three new non-official members and the reappointment of 10 serving non-official members to the Green Technology and Finance Development Committee for a period of two years from June 23, 2025, to June 22, 2027.
 
     The membership list in the new term is as follows:
 
Chairman
——-
Financial Secretary
 
Non-official members (in alphabetical order of surnames)
————————-
Ms Clara Chan Yuen-shan
Dr Vincent Cheng Sai-yau
Dr Dai Fan (newly appointed)
Ms Loretta Fong Wan-huen
Professor Gong Peng (newly appointed)
Professor Alex Jen Kwan-yue
Ms Poman Lo
Mr Lu Jiahui (newly appointed)
Dr Ma Jun
Mr Philip Ng Kim-lam
Dr Conrad Wong Tin-cheung
Miss Vriko Yu Pik-fan
Dr Martin Zhu Yihao
 
Official members
——————-
Secretary for Financial Services and the Treasury
Secretary for Environment and Ecology
Secretary for Housing
Secretary for Innovation, Technology and Industry
Permanent Secretary for Financial Services and the Treasury (Financial Services)
Deputy Secretary for Transport and Logistics 1
Head of Project Strategy and Governance Office, Development Bureau
Chairman, Council for Carbon Neutrality and Sustainable Development
Chief Executive Officer, Securities and Futures Commission
Chief Executive Officer, Insurance Authority
Deputy Chief Executive, Hong Kong Monetary Authority
Group Chief Sustainability Officer, Hong Kong Exchanges and Clearing Limited
Chief Executive Officer, Hong Kong Cyberport Management Company Limited
Chief Executive Officer, Hong Kong Science and Technology Parks Corporation
 
     A Government spokesman said, “Since its establishment in June 2023, the Committee has provided valuable insights across various areas, including fostering the creation of a green technology ecosystem, developing green finance, green transportation and green buildings, as well as promoting and highlighting Hong Kong’s strengths in these areas. We firmly believe that, with the extensive market experience and professional expertise of the Committee members, their invaluable advice will further advance the development of green technology and finance in Hong Kong.
 
     “We express our gratitude to the outgoing members, Mr Wang Hongbo, Dr George Lam, and Mr Jonathan Drew for their contributions to the work of the Committee during their tenure.”
 
     The Committee was established on June 23, 2023, to assist in the formation of an action agenda for promoting the development of Hong Kong into an international green technology and financial centre. Members of the Committee include representatives from relevant policy bureaux, departments and financial regulators, as well as non-official members from the finance, technology, academic, professional services sectors, etc.