Source: Hong Kong Government special administrative region – 4
A severe earthquake of magnitude 8.8 occurred at about 7.24am today (July 30) near Kamchatka, Russia.
The earthquake has generated a tsunami in the Pacific.
For details of this tsunami, please refer to the Tsunami Information Bulletin issued by the Hong Kong Observatory (www.hko.gov.hk/en/gts/equake/tsunami_info_warn.htm).
​
Please refer to the Annex for the Tsunami Travel Time chart of the tsunami.
Source: Hong Kong Government special administrative region – 4
Following is a question by the Hon Chan Chun-ying and a reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (July 30):
Question:
The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Association of Banks, launched the Anti-Scam Consumer Protection Charter (Charter) and the Charter 2.0 in 2023 and last year respectively. In July this year, HKMA launched the Charter 3.0 in collaboration with other regulators, with a view to jointly combatting financial fraud and scams targeting the Hong Kong public through establishing a collaborative framework with technology firms and telecommunications firms. In this connection, will the Government inform this Council:
(1) whether it knows if HKMA has, since the launch of the Charter and the Charter 2.0, reviewed participating institutions’ implementation of the various principles under the Charter and the Charter 2.0 and the effectiveness thereof; if HKMA has, of the details; if not, the reasons for that;
(2) as the Charter 3.0 further extends the co-operating parties to include the technology and telecommunications sectors, so as to combat financial fraud through cross-sector co-operation, of the specific objectives which the Government and HKMA expect to achieve, and the performance indicators formulated for such objectives; and
(3) as the Charter 3.0 provides that participating institutions will fulfill Charter commitments based on their business models in a voluntary manner, how HKMA ensures, on this premise, that participating institutions can effectively dovetail with the policy direction and deliver the overall intended outcomes?
Reply:
President,
In recent years, phishing scams have become prevalent. Scammers would pose as reputable merchants to obtain citizens’ credit card and bank account details for monetary gain. In response, the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) jointly launched the “Anti-Scam Consumer Protection Charter” (Charter 1.0) in June 2023 to enhance public awareness of safeguarding credit card and personal information. All 23 card-issuing banks and 15 merchant institutions in Hong Kong participated in Charter 1.0, committing not to send instant electronic messages to customers with embedded hyperlinks to request personal and credit card information online, and to convey the message of “Beware of scams” to the public through various channels.
As scammers expanded their tactics to impersonate various financial institutions, such as banks, securities firms, insurers, Mandatory Provident Fund trustees, the HKMA introduced the “Anti-Scam Consumer Protection Charter 2.0” (Charter 2.0) in April 2024. Over 300 financial institutions and merchants joined Charter 2.0, extending its coverage to more aspects of daily life, including financial services, food and beverage, logistics, transport, tourism, retail.
Scams continue to evolve. Scammers not only use traditional telecommunications tools like phone calls or SMS to reach out to victims, but also exploit online platforms. Governments and regulators worldwide have increasingly recognised the critical role of technology and telecommunications firms in combating scams and fraud. The HKMA, the Securities and Futures Commission, the Insurance Authority and the Mandatory Provident Fund Schemes Authority jointly launched the “Anti-Scam Consumer Protection Charter 3.0” (Charter 3.0) in July 2025, to establish a collaborative framework with technology and telecommunications firms to combat financial scams and fraud targeting the Hong Kong public. Charter 3.0 also received full support from the Consumer Council, the HKAB, the Hong Kong Police Force (HKPF) and the Office of the Communications Authority.
Having consulted the HKMA, my reply to the various parts of the question is as follows:
(1) The HKMA has been reviewing the implementation of Charter 1.0 and Charter 2.0. Statistics from the HKPF show that the number of phishing scams decreased from 4 322 in 2023 to 2 731 in 2024, with losses dropping from HK$102 million to HK$54 million over the same period. This reflects that Charter 1.0 and Charter 2.0 have helped raise public awareness and curb phishing scams.
(2) Charter 3.0 expands participation to include technology and telecommunications firms, marking a new chapter of cross-sector collaboration among financial, technology and telecommunications industries in combating fraud. Charter 3.0 aims to enhance effectiveness in four key areas. First, regarding reporting of suspected scams and fraud, participating firms will put in place user reporting functions and establish direct and efficient channels for financial regulators to report and follow up on suspected scams and fraud. Second, for vetting of advertisers, participating firms will adopt a risk-based approach to verify advertisers, while developing internal policies and tools to monitor the advertisements and contents on their platforms relating to financial products or services. Third, concerning removal of fraudulent advertisements, participating firms commit to enforcing their terms of service by detecting and removing financial scam advertisements or contents which violate platform policies. Fourth, for enhancing public awareness, participating firms will collaborate with financial regulators and the financial industry to launch various anti-scam campaigns to raise public vigilance against scams.
The cross-sector collaboration enabled by Charter 3.0 will raise the barriers to execute scams, while helping the public better protect themselves against scams and reduce potential losses.
(3) Charter 3.0 covers major overseas and Mainland information technology platforms operating in Hong Kong, including instant messaging app, social media, video streaming and search engine, as well as nearly all major telecommunications service providers, including fixed network operators, mobile network operators and internet service providers. Given the diversity of platforms and services, participating firms will adopt proportionate measures based on their business scopes and models as appropriate, to implement the principles in Charter 3.0. This approach allows technology and telecommunications firms to leverage their tools and strengths to prevent scams and safeguard their users, and provide them with the flexibility to adapt to evolving tactics and patterns of scams, with a view to enhancing the capacity and effectiveness of Hong Kong’s overall anti-scam ecosystem. The HKMA, together with other regulators, will maintain communication with participating firms to ensure effective measures are tailored to their service models and the latest scam tactics, thereby helping the public guard against scams.
Combating financial scams requires collective efforts across different sectors of society. The Government will continue to implement multi-faceted measures and enhance cross-sector collaboration, so as to strengthen the security of Hong Kong’s financial system while providing better protection for the public.
Thank you, President.
Source: Hong Kong Government special administrative region – 4
Following is a question by the Hon Kenneth Fok and a written reply by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, in the Legislative Council today (July 30):
Question:
Hong Kong Stadium (HKS) is one of the few venues in Hong Kong that meets the standards stipulated in the Asian Football Confederation (AFC) Stadium Regulations, enabling it to host AFC-sanctioned international matches. “The Chief Executive’s 2024 Policy Address” proposed that a fresh review of the redevelopment plan for the HKS will be conducted to ensure its synergy with the Kai Tak Sports Park. There are views that the HKS, with its comprehensive internal facilities and supporting infrastructure, has the potential to support the development of sports as an industry, which can further make up for the shortage of professional sports venues. Regarding the operation and development of the HKS, will the Government inform this Council:
(1) of the operational staffing costs of the HKS in the past three years, as well as the expenditures incurred on the repair and maintenance of facilities (e.g. turf, athletics tracks, field facilities and other ancillary facilities), with a tabulated breakdown by item;
(2) as it is learnt that apart from the sports ground facilities, there are a total of 50 executive suites, a dozen of restaurants, lounges and bars, as well as facilities such as car parks, conference rooms and offices in the HKS, of the revenues generated from the various HKS facilities in each of the past three years, including venue and facility rental income (e.g. the rental of venues for sports training, events and competitions, as well as the rental of suites), catering and retail service income, as well as guided tour service income (set out in a table);
(3) of (i) the utilisation rate of the HKS and (ii) the following information on the events held at the HKS in the past three years: dates, attendances, event scale, event type (e.g. football matches or community activities) and venue hirer type (e.g. sports organisations, community groups or commercial organisations) (set out in a table);
(4) given that the Government proposed in earlier years to redevelop the HKS by converting it into a public sports ground and reducing its seating capacity to 9 000, but there are views in the community that the Government should retain the current scale of HKS and further develop it into a venue dedicated to sports events to meet the needs of developing sports professionalism and sports as an industry, and that it should conduct a comprehensive assessment of the actual demand for sports facilities in the district before making further planning, whether the Government has systematically analysed the specific data (e.g. utilisation rates) on similar sports grounds and sports facilities in the district, so as to effectively assess the redevelopment plan for HKS and the relevant demands; and
(5) given that the Leisure and Cultural Services Department (LCSD) earlier on announced a reformed hiring policy and measures for its performance venues, aiming to establish clearer venue identities, and foster a diversified, professional, industry and mega-event development of performing arts, whether the authorities will, by making reference to such practice, consider proposing a reform direction for the development of sports professionalism and sports as an industry, including realigning the positioning of HKS in line with sports policy objectives, and conducting a comprehensive review of the effectiveness of the LCSD in operating the HKS, so as to alleviate the financial pressure on the Government?
Reply:
President,
The Government has all along been committed to promoting sports development proactively through a multi-pronged approach with a view to implementing the five key policy objectives, namely promoting sports in the community, supporting elite sports, promoting Hong Kong as a centre for major international sports events, enhancing professionalism and developing sports as an industry. Various large-scale sports infrastructure and venues, including the Hong Kong Stadium (HKS) and the Kai Tak Sports Park (KTSP) which was officially commissioned on March 1 of this year, are crucial for the Government’s continued development of both sports as an industry and the host city economy. In the 2024 Policy Address, the Government proposed to make full use of various venues to host large-scale international competitions. It aimed to create favourable conditions for the long-term development of the sports industry and ensure the synergy among the HKS, the KTSP and other venues, thereby making better use of various venues in Hong Kong to promote the development of sports and mega event economy.
My reply to the Hon Kenneth Fok’s question is as follows:
(1) Information on the manpower and operating expenditure incurred by the HKS in the past three years is tabulated below:
| 2022-23 ($ million) |
2023-24 ($ million) |
2024-25 ($ million) |
|
| Manpower expenditure | 15.78 | 17.34 | 15.49 |
| Operating expenditure | 45.13 | 44.77 | 41.73 |
| – Repair and maintenance (turf and facilities) | 22.60 | 15.44 | 16.56 |
| – Others (including electricity, gas, hire of services, professional fees, administration and communications) | 22.53 | 29.33 | 25.17 |
| Total expenditure: | 60.91 | 62.11 | 57.22 |
(2) Information on the revenue generated from facilities and services of the HKS in the past three years is tabulated below:
| 2022-23* ($ million) |
2023-24 ($ million) |
2024-25 ($ million) |
|
| Income from rental of venue and facilities (including venue facilities, suites and sports training) | 17.54 | 38.72 | 22.92 |
| Income from catering and retail services (including restaurants and merchandise sales) | 1.57 | 4.57 | 11.23 |
| Income from guided tour service | 0.002 | 0.002 | 0.004 |
| Other income (including carpark, advertising and location filming) | 2.78 | 4.04 | 3.24 |
| Total income: | 21.892 | 47.332 | 37.394 |
* During the COVID-19 epidemic, social distancing measures were in place in Hong Kong until the end of December 2022, resulting in a decrease in revenue at the HKS.
(3) Information on the events held at the HKS in the past three years is tabulated below. Please refer to the Annex for details.
| 2022-23 | 2023-24 | 2024-25 | |
| Number of ball games | 11 | 15 | 13 |
| Number of other events | 5 | 2 | 3 |
| Total number of events: | 16 | 17 | 16 |
(4) The Government once preliminarily considered to convert the HKS into a public sports ground after completion of the KTSP. In view of the imminent commissioning of the KTSP, the Government proposed in the 2024 Policy Address to review the redevelopment plan for the HKS. The Culture, Sports and Tourism Bureau (CSTB) will make reference to the operation of the KTSP as well as the demand and operation of other sports facilities to further assess and formulate the future positioning of the HKS and its long-term development with a view to complementing the strengths of relevant sports facilities to achieve greater synergy. At present, the HKS continues to serve as a major venue for large-scale events. A number of major sports events have been/will be held at HKS in 2025, including the exhibition match between the Hong Kong, China Representative Team and Manchester United in May, the open training of AC Milan last week at the Hong Kong Football Festival 2025, and the upcoming Saudi Super Cup in this August. We are open to any suggestions for making good use of the HKS.
(5) Commissioned in March this year, the KTSP offers multiple venues of international standard equipped with advanced facilities, providing excellent conditions and vast opportunities for promoting Hong Kong as a centre for major international sports events and supporting elite sports. Numerous large-scale sports events have been held at the KTSP within its first five months of opening, including the Hong Kong Sevens, the Volleyball Nations League Hong Kong 2025 and the Hong Kong Football Festival 2025 which is currently underway. The CSTB will closely monitor the usage of various venue facilities after the opening of the KTSP and review their positioning to fully leverage on the unique advantages of each venue in hosting different types of international and local competitions and maximise the synergy effect, thereby enhancing public interest in sports and expanding the audience of sports enthusiasts. This will further promote sports in the community and support elite sports while promoting Hong Kong as a centre for major international sports events and developing sports as an industry. When formulating the future positioning and long-term development of the HKS, the Government will also review its operational effectiveness to better utilise its role in promoting sports development.
Source: Hong Kong Information Services
The bilingual version of the “Annotations of the Hong Kong National Security Law & Sedition Offences in the Crimes Ordinance” has been updated, the Department of Justice announced today.
The annotations now cover judgments of cases relating to national security up to January 31 this year, and the Court of Final Appeal’s judgments in two important cases in March. The relevant provisions of the Safeguarding National Security Ordinance (6 of 2024), the Safeguarding National Security (Office for Safeguarding National Security of the Central People’s Government in the Hong Kong Special Administrative Region) Regulation, and the Safeguarding National Security (Declaration of Prohibited Places) Order, are also referred to.
The department noted that since the promulgation and implementation of the National Security Law in 2020, all judicial decisions in national security cases are made public in an open and transparent manner.
Secretary for Justice Paul Lam said: “The focus of national security education is to cultivate the self-awareness of the general public in safeguarding national security. To this end, we must deepen and strengthen the public’s understanding of the laws on safeguarding national security and relevant rule of law principles.”
The annotations provide a simple and practical tool to assist the public in comprehending national security laws and cases, he added.
Source: Hong Kong Information Services
With the renovation project for the International Organization for Mediation (IOMed) headquarters building completed, Secretary for Justice Paul Lam and Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region Cui Jianchun visited the headquarters building today.
The renovation project completion signifies that the building is fully equipped and ready to serve as the IOMed headquarters and for other related purposes in the future.
Mr Lam and Mr Cui toured various areas including the main lobby, conference rooms, mediation rooms and exhibition areas of the headquarters, and were briefed on the revitalisation process and facilities.
The IOMed headquarters building was converted from the Old Wan Chai Police Station, a Grade 2 historic building. The design principle of the conversion was to complement the image and functionality of the IOMed headquarters by preserving the original architectural features of the old police station while adopting minimal and reversible alterations.
As the first international intergovernmental legal organisation dedicated to the use of mediation in resolving international disputes, the IOMed headquarters is located in a landmark architectural building in the central business district of Hong Kong.
This not only accentuates the special international status of the IOMed and accommodates its operational needs, but also fosters the conservation and revitalisation of the Old Wan Chai Police Station, reflecting the emphasis and determination of the Hong Kong Special Administrative Region Government in preserving and revitalising historical buildings.
With the proactive efforts of the Hong Kong SAR Government and co-operation from various parties, the headquarters building project was completed quickly and efficiently in about a year and a half, fulfilling the target set out in the supplement of last year’s Policy Address, to enable the official establishment of the IOMed headquarters in Hong Kong after the entry into force of the Convention on the Establishment of the International Organization for Mediation.
Following the completion of the project, the headquarters building will be officially handed over to the IOMed Preparatory Office on August 1 to make good preparation use for the establishment and opening of the IOMed.
Source: Hong Kong Information Services
Secretary for Security Tang Ping-keung explained today that the disciplined and auxiliary services utilise drones of different sizes, and related systems, to enhance operational efficency and make better use of manpower resources.
Mr Tang was outlining the scope of tasks performed by the departments’ unmanned aircraft in response to questions raised by lawmaker Chan Yuet-ming.
To assist in investigations and evidence collection, he said the Police Force, the Customs & Excise Department and the Immigration Department all use drones with high-resolution cameras to capture video at crime scenes, especially in rural areas and at sea, where access is relatively difficult.
He added that in May the force launched a Pilot Scheme for Operational Deployment of Drones, which involves using drones to perform patrols in the Border District and Kowloon West Region.
In the Border District, the force deploys an automated drone docking system that leverages smart planning of flight paths to enable automatic patrol operations. Meanwhile, in Kowloon West Region, patrol coverage is expanded through flexible deployment of drones for high-altitude patrols.
Mr Tang highlighted that since the pilot scheme was launched, drones have helped Police in four separate cases, leading to three people being arrested.
The force will look at ways to enhance the pilot scheme and have scheduled its expansion to Cheung Chau Division and the Central District in the fourth quarter of this year.
On the use of drones for monitoring crowds and traffic flows at large‑scale events, the security chief said potential safety hazards are promptly identified through real-time images recorded by the drones. Moreover, using a drone system capable of hovering at designated locations for extended periods of time allows the force to send safety reminders to members of the public.
When it comes to searching for missing people, the Police Force, the Fire Services Department and the Civil Aid Service all use drones to surmount harsh conditions and quickly reach difficult locations such as cliffs and mountains. Throughout the rescue process, drones can also conduct surveillance to ensure site safety.
Moreover, drones can take high-definition photographs of debris that can be used in the production of three-dimensional models, thereby facilitating the planning of rescue operations by ground rescue personnel.
Mr Tang elaborated that in firefighting, drones equipped with thermal imaging cameras are used by the Fire Services Department to monitor temperature changes at fire scenes from multiple angles in the air. Based on such data, incident commanders can work out firefighting strategies and devise entry and evacuation routes to enhance operational efficiency and ensure the safety of rescue workers.
Furthermore, to strengthen the security of prisons and detention facilities, drone technology is employed by the Correctional Services Department and the Immigration Department to assist in facility inspections – for example, examining deterioration in boundary fencing and checking roof-tops for anomalous objects – and to help with emergency response actions.
The security chief stressed that in applying drone technology, the disciplined and auxiliary services exercise stringent control and supervision to ensure their operations comply with the Personal Data (Privacy) Ordinance.
The departments also strictly follow the Guidance on CCTV Surveillance & Use of Drones, issued by the Office of the Privacy Commissioner for Personal Data, to avoid unnecessary proximity to the public and residential areas, he added.
Source: Hong Kong Government special administrative region
LCQ17: Repair and maintenance of external walls of buildings
Question:
Some flat owners of buildings in old districts have relayed to me that titles to the external walls of many buildings in Hong Kong are held by the original developers of those buildings. However, quite a number of these developers have ceased operations over the years following completion of the buildings. The Government has assumed ownership of the external walls of buildings held by some of such developers after their liquidation. There are also cases in which the external walls of buildings are left unattended, be turned into “abandoned structures” and become dilapidated. In this connection, will the Government inform this Council:
(1) whether it has compiled statistics on the number of private buildings in Hong Kong where titles to their external walls are not unified (including buildings with incomplete titles to part or the whole of their external walls); of the number of private buildings with titles to their external walls taken over by the Government due to the fact that the developer concerned has gone into liquidation, and the government departments involved in managing such titles, together with a breakdown of the names and numbers of such buildings by District Council (DC) district;
(2) how the Government will handle the issue concerning the responsibilities for repair and maintenance of the external walls arising from private buildings with incomplete titles to their external walls and those with titles to their external walls taken over by the Government as mentioned in (1), e.g. whether the Government has transferred the titles to the external walls under its possession to the owners’ corporations (OC(s)) of the relevant buildings at nominal cost; if so, of the number of successful cases of title transfer, and the number of OCs refusing acceptance of such transfer, together with a breakdown by DC district;
(3) of the measures in place to ensure structural safety of the external walls of the buildings where titles to the external walls have been taken over by the Government; whether there have been cases in the past five years where dilapidated external walls of such buildings caused injuries to pedestrians and the Government was required to assume responsibility for compensation; if so, of the details; and
(4) how the Government will handle the situation mentioned in (1) above in which the titles to the external walls of buildings are incomplete while their external walls are posing immediate danger; whether the Government has assumed any responsibility for repair and maintenance and paid for the relevant works; if so, of the total amount of repairs or maintenance costs incurred by the Government in the past, together with a breakdown by DC district?
Reply:
President,
The Government has all along been emphasising that building owners should properly maintain and repair their buildings. Apart from extending the life of their buildings, danger to the occupants or the general public arising from dilapidation can also be avoided. Generally speaking, the Deeds of Mutual Covenant (DMCs) of a building, being a private contract, stipulate the rights and obligations among the parties concerned (i.e. owners, managers and developers), including management of the common parts of buildings and other related matters, as well as bearing of the relevant maintenance costs, etc. Some DMCs also specify the titles to and the management right of external walls. In fact, owners may manage the common parts (including external walls) of their buildings and other related matters by forming owners’ corporations (OCs), owners’ committees and engaging licensed property management companies.
The Building Management Ordinance (Cap. 344) also stipulates the responsibilities for management and maintenance of the common parts of a property. Moreover, the Urban Renewal Authority has launched an all-in-one Integrated Building Rehabilitation Assistance Scheme, providing financial assistance and technical support to building owners, including support for owners to carry out comprehensive maintenance works for the common areas of their buildings. The Home Affairs Department also provides assistance and support to OCs in handling building management matters (including maintenance of the external walls of buildings).
Our reply, prepared in consultation with the Home and Youth Affairs Bureau, to various parts of the question raised by the Hon Chan is as follows:
(1) As the titles to different parts of buildings and the responsibilities for managing their common parts are stipulated in the DMCs, which are private contractual agreements, the Government has not compiled statistics on the number of private buildings in Hong Kong where titles to their external walls are not unified (including buildings with incomplete titles to part or the whole of their external walls).
For properties owned by companies, if the company, pursuant to the Companies Ordinance (Cap. 622) or the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32), completes the procedures for winding up and is about to dissolve, every property and right (such as including some properties that are yet to be sold in the market) vested in or held on trust for the company immediately before the dissolution is vested in the Government as bona vacantia. Among these, land properties are “bona vacantia properties” (including their external walls). In general, the Lands Department (LandsD) will dispose of the titles to the external walls (bona vacantia external walls) of the aforesaid buildings which are vested in the Government as bona vacantia by way of sale (please see part (2) for details). Unsold bona vacantia external walls will continue to be managed by the LandsD.
As of June 2025, there are a total of 56 cases involving bona vacantia external walls which have been taken over and are still managed by the LandsD, the details of which (by District Council district) are set out at Annex 1. Given some of the bona vacantia external walls taken over by the LandsD only account for a portion of the overall ownership of the external walls, the LandsD will shoulder the management and maintenance responsibilities corresponding to its share of interests in the external walls in accordance with the DMCs.
(2) In general, the LandsD will dispose of bona vacantia properties that it has taken over by way of sale. However, as the titles to external walls are not suitable for sale in the open market, the LandsD will normally invite the OC of the buildings concerned to take over the ownership of bona vacantia external walls at a nominal fee (i.e. $1,000). Since 2010, the LandsD has successfully transferred the titles of 24 cases of bona vacantia external walls to the OCs of the buildings concerned by sale. A list of these buildings is set out at Annex 2.
Among the 56 cases of bona vacantia external walls currently managed by the LandsD as mentioned in part (1), the LandsD has officially invited the OCs of the buildings concerned to take over the titles of 13 cases, but the OCs have yet to respond. A list of the buildings concerned is set out at Annex 3. The LandsD is arranging initial negotiation with the relevant OCs regarding the transfer of titles for the other 42 cases. As for the remaining case, there is no plan for transfer for the time being as no OC has been formed in the building. So far, no OC has explicitly rejected the offer regarding bona vacantia external walls, and the LandsD will continue to negotiate with the relevant OCs on the transfer matters.
Generally speaking, for buildings where titles to their external walls are not unified (i.e. not held by a single owner or company) or are incomplete (e.g. individual titles are unclear), the OCs or the owners should jointly negotiate and bear the responsibilities for management and maintenance of external walls in accordance with the DMCs.
(3) For bona vacantia external walls managed by the LandsD, the department bears the same responsibilities as other owners. The LandsD staff will inspect the conditions of external walls on a regular basis and, if necessary, will arrange for works contractors to carry out repairs as appropriate to ensure their structural safety and that they are in a good state. According to the records of the LandsD, there has not been any case of injuries to pedestrians due to dilapidation of bona vacantia external walls under its management.
(4) The Buildings Department (BD) has been adopting a multi-pronged approach to ensure the safety of private buildings. Regardless of ownership status, if it is found that a building, including its external walls, poses an imminent danger to the public, the BD will arrange for government contractors to carry out emergency works and subsequently recover the relevant works costs, supervision fees, and surcharges from the owners. In other words, the relevant fees should be ultimately borne by the owners, rather than the BD.
Regarding the bona vacantia external walls managed by the LandsD mentioned in part (1) above, none of the concerned cases require intervention or repair works by the BD due to imminent danger.
Issued at HKT 17:30
NNNN
Source: Hong Kong Government special administrative region
The Hong Kong Special Administrative Region (HKSAR) today (July 30) released the “Report on Hong Kong’s Business Environment: Unique Strengths under ‘One Country, Two Systems'”. The report provides all sectors of the community and Mainland and overseas investors with details on Hong Kong’s latest developments and strengths, comprehensively showcasing Hong Kong’s open, safe, stable, efficient and internationalised business environment. The report has been uploaded to the “Hong Kong Economy” website: www.hkeconomy.gov.hk/en/environment/index.htm
Source: Republic of China Taiwan
On June 30, 2025, representatives from civil groups including the Taiwan Fenghezi association and the Environmental Rights Foundation visited the Ministry of Economic Affairs (MOEA) and held a press conference to voice concerns regarding the pre-hearing briefing for the “Taiwan Knowledg Economy Flagship Park Project”. The MOEA has acknowledged and takes these concerns seriously. The MOEA will continue to clarify responsibilities and procedural requirements with relevant agencies to ensure full compliance with legal procedures and the principles of public participation.
Civil groups raised several key issues, including whether the MOEA holds the authority to conduct hearings for the entire 400-hectare area, questions regarding the site and scope of the major development, concerns over procedural legality, and the suggestion to hold a preparatory hearing. In response, the MOEA stated that the “pre-hearing briefing” scheduled for July 5, 2025, is being held in accordance with the resolution made during the 14th special task force meeting of the Ministry of the Interior’s Urban Planning committee in 2024. The purpose is to broadly gather public opinions and ensure that the public is well informed about the project details and hearing procedures.
The MOEA emphasized the opinions collected during the pre-hearing briefing will serve as references for future reviews conducted by the Hinchu County Government and the Urban Planning Committee of the Ministry of the Interior. The
The MOEA emphasized that the opinions collected during the pre-hearing briefing will serve as references for future reviews conducted by the Hsinchu County Government and the Urban Planning Committee of the Ministry of the Interior. The MOEA reaffirms its commitment to lawful administration and transparency, and will carefully handle this case while openly incorporating diverse viewpoints, to uphold public participation rights and promote legally sound and legitimate decision-making in public policy.
Spokesman: Tseng, Chu-Fen (Deputy Director General, BIP)
Contact Number: 886-2-26558300 ext. 9602
Email: cftseng@bip.gov.tw
Contact Person: Lin, Yi-Wun (Taipei Office, BIP)
Contact Number: 886-2-265-58300 ext. 9501
Email: ywlin1@bip.gov.tw
Source: Hong Kong Government special administrative region
Following is a question by the Hon Shang Hailong and a written reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (July 30):
Question:
In 2022 and this year, the SAR Government promulgated two policy statements on the development of virtual assets (VA) in Hong Kong respectively, explicitly positioning the city as a premier global hub for digital assets and taking forward various legislative and regulatory measures. These include the passage of the Stablecoins Bill and the introduction of a licensing regime for VA service providers (the licensing regime). However, some industry participants have expressed concerns about whether the existing policies can strike an appropriate balance between investor protection and innovation promotion, and how Hong Kong will address international competition (such as the regulatory frameworks for stablecoins established by the United States and Singapore). In this connection, will the Government inform this Council:
(1) as there are views that under the existing licensing regime, only 10 institutions from both local and overseas markets have been granted licences, and that the Securities and Futures Commission (SFC)’s approval speed lags behind that of competitors such as Singapore, whether the authorities have drawn up a specific timetable to further streamline the licensing process, in order to attract more compliant enterprises to establish a presence in Hong Kong; whether it will draw reference from international standards (such as the European Union’s Markets in Crypto-Assets Regulation) to develop a more flexible regulatory sandbox mechanism that encourage trials of financial technology;
(2) whether the authorities will, within the next three years, regularise the issuance of tokenised bonds and extend this to other asset classes (such as real estate or private equity funds); how the Government will resolve the current lack of uniformity in cross-institutional tokenisation standards, for example, whether it will establish a co-ordination mechanism jointly with the Hong Kong Monetary Authority, SFC and the Hong Kong Exchanges and Clearing Limited; and
(3) whether it will strengthen co-operation with relevant Mainland institutions (such as the Digital Currency Institute of the People’s Bank of China) and international organisations (such as the International Monetary Fund), in order to establish cross-boundary agreements on VA regulation and anti-money laundering initiatives?
Reply:
President,
The Government issued the Policy Statement 2.0 on the Development of Digital Assets in Hong Kong (Policy Statement 2.0) in June 2025. Building on the first policy statement released in October 2022, Policy Statement 2.0 reaffirms the Government’s commitment to positioning Hong Kong as a global hub for innovation in the digital asset field.
One of the key focuses of Policy Statement 2.0 is enhancing the legal and regulatory framework. A comprehensive regulatory framework provides a solid foundation for the sustainable development of the digital asset sector. Following the implementation of the licensing regime for digital asset trading platforms in June 2023, the Stablecoins Ordinance will come into effect on August 1 this year. At the same time, the Government and the Securities and Futures Commission (SFC) are consulting the public on the licensing regimes for digital asset dealing service and custodian service providers, with a view to formulating the legislative proposals as soon as practicable. Upon the completion of the legislative work, the regulatory framework in Hong Kong will provide comprehensive coverage of the key nodes of the digital asset industry, balancing risk management and investor protection, while providing favourable conditions for market development and financial innovation.
After consulting the Hong Kong Monetary Authority (HKMA), the SFC, and the Hong Kong Police Force, our reply to the various parts of the question is as follows:
(1) As of early July 2025, the SFC has officially granted licences to 11 digital asset trading platforms with both local and overseas background, and is processing an additional nine licence applications. The time required to process licence applications regarding digital asset trading platform varies, depending on various factors such as the completeness of the information provided by the applicants, the adequacy of the supporting documents submitted by the applicants, and the time taken by the applicants to respond to requests for further information during the SFC’s assessment process.
Based on the practical experience in processing licence applications, the SFC from time to time reviews and enhances relevant procedures to help applicants better understand the SFC’s regulatory expectations, thereby reducing the time required for licence assessments. In this regard, the SFC launched a swift licensing process in June 2024, under risk-based on-site inspections would be conducted on those deemed-to-be-licensed digital asset trading platform applicants. During the process, the SFC would communicate direct with the senior management and ultimate controllers of the relevant applicants about regulatory standards, so as to reduce the time required for granting relevant licences.
Subsequently, the SFC expanded in January 2025 the scope of the swift licensing process to include all new applicants for a digital asset trading platform licence. Under the swift licensing process, applicants are required to first establish internal policies, procedures, systems and monitoring measures, which must then undergo external assessment. The SFC acts as one of the parties overseeing the entire external assessment process. The SFC continues to review the circumstances in respect of applications for a digital asset trading platform licence, with a view to facilitating more digital asset trading platform operators from diverse backgrounds to commence business in Hong Kong.
In addition, to promote financial innovation, regulatory authorities such as the HKMA, the SFC, and the Insurance Authority have established various regulatory sandbox mechanisms. These enable innovative use cases in tokenisation, blockchain, generative AI (artificial intelligence) and insurance technology to be tested under a risk-controlled environment before their actual application, while receiving technical support and regulatory feedback from the regulatory authorities. The design of these sandboxes has taken reference to both local and overseas experience to foster a healthy and sustainable environment for the market, helping financial institutions seize opportunities and responsibly adopt financial technologies.
(2) The Government made two issuances of tokenised green bonds in 2023 and 2024, which demonstrated the benefits of tokenisation and were well received by the market. The two issuances represented the first tokenised green bond issued by a government and the first multi-currency digitally native tokenised bonds in the world respectively. In the 2025-26 Budget, the Government announced the regularisation of tokenised bond issuance, and the HKMA is currently preparing for the third issuance.
As highlighted in Policy Statement 2.0, the Government recognises the potential of tokenisation of traditional financial products and real-world assets. The Government has also observed growing interest among financial institutions in tokenising traditional financial instruments, and that more and more intermediaries are exploring tokenisation of securities and distributing tokenised securities. In fact, the SFC issued “Circular on intermediaries engaging in tokenised securities-related activities” and “Circular on tokenisation of SFC-authorised investment products” in November 2023, providing guidance to intermediaries on managing new risks posed by tokenisation technology and related investment products, thereby promoting the steady, responsible and sustainable development of the tokenisation market.
Building on the above, the SFC authorised in 2024 the first tokenised investment product for retail access in Hong Kong. That is a gold token that allows investors to acquire fractional ownership of physical gold. In the first quarter of 2025, the SFC further authorised three retail tokenised money market funds, which were the first in the Asia Pacific region. As of the end of March 2025, these funds had a total of over $700 million assets under management.
Meanwhile, through the HKMA’s Project Ensemble, we are actively encouraging innovative use cases, including the tokenisation of traditional financial products (e.g. money market funds and other funds) and revenue streams of real-world assets (e.g. electric vehicle charging stations). The SFC is a key partner of Project Ensemble, and has been working with the HKMA to promote the wider adoption of tokenisation in the asset management industry. The HKMA is also exploring the development of innovative financial market infrastructure, providing a unified technical foundation to facilitate interbank settlement of tokenised deposits.
(3) Hong Kong has been actively participating in international efforts to combat money laundering and terrorist financing, including the development of standards and regulations relating to digital assets. In particular, Hong Kong’s regime for anti-money laundering and counter-terrorist financing has been recognised by the Financial Action Task Force (FATF), the setter of relevant international standards, as both overall compliant and effective, especially in international co-operation.
Currently, Hong Kong is participating in the discussion of the Virtual Assets Contact Group under the FATF, so as to keep abreast of the latest related risks in respect of money laundering and terrorist financing and to foster international collaboration in this area. Meanwhile, the HKMA is leading the Financial Stability Board’s review of the global implementation of the global regulatory framework for crypto-asset activities.
In addition, the Joint Financial Intelligence Unit under the Hong Kong Police Force is a member of the Egmont Group of Financial Intelligence Units, exchanging information with over 160 member financial intelligence units worldwide. This supports cross-jurisdiction enforcement and intelligence-sharing efforts to combat money laundering and terrorist financing, including cases involving digital assets.
At the same time, the anti-money laundering related agencies in the Mainland, the Hong Kong Special Administrative Region and the Macao Special Administrative Region have established mechanisms for regular exchanges and close collaboration.
The Financial Services and the Treasury Bureau, financial regulators and law enforcement agencies will continue to monitor the risks associated with money laundering, terrorist financing and digital assets. We will maintain close communication and collaboration with relevant international organisations and relevant agencies in other jurisdictions, including the Mainland.
Hong Kong has also maintained close communication with regulators around the world on the regulation and developments of digital assets. As major regions around the world gradually implement regulatory regimes related to digital assets, Hong Kong will continue to exchange regulatory experience with the international community, strengthen cross-border/cross-boundary regulatory collaboration, and jointly promote financial stability and innovation.