Month: July 2025

Source: Hong Kong Government special administrative region – 4

Due to inclement weather, classes of all PM schools are suspended this afternoon (July 10). AM and whole-day schools which are in session should continue until the end of school hours. They should ensure that conditions are safe before allowing students to return home.

Source: Hong Kong Government special administrative region – 4

     Following is the keynote speech by the Secretary for Justice, Mr Paul Lam, SC, at the “Paris Seminar: Hong Kong Legal Services – Gateway to China and Beyond” organised by the Department of Justice in Paris, France on July 9 (Paris time):
 
His Excellency Mr Deng Li (Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the French Republic), distinguished guests, ladies and gentlemen,
 
Good afternoon. Firstly, on behalf of the Department of Justice, I would like to welcome all of you joining our seminar this afternoon. I have to express my gratitude to Mr Deng Li for giving the very important opening remarks, and for helping the Department of Justice in organising this very important seminar. Second, I also wish to express my gratitude to all the supporting organisations, which include the legal professional bodies in Hong Kong, the important arbitration institutions, and leading law firms. This is in fact my first official visit to this part of the world, including France, and I think this is also the first occasion that the Department of Justice organised a seminar focusing on the legal services of Hong Kong. I’m very pleased and honoured to be able to invite very eminent speakers from both Hong Kong and France to share their experience with you in a minute. There will be two panel discussions this afternoon. I would also like to take the opportunity to thank all the speakers.
 
What I intend to do is just to set the scene and give an overview of the theme of today’s seminar. The topic for today is Hong Kong’s legal services. There is only one important message that I wish to convey successfully at the end of today, that is Hong Kong’s common law system serves as a unique gateway to China and beyond.
 
Why Hong Kong is a unique gateway? The short answer is that under the very important principle of “one country, two systems”, on the one hand, Hong Kong’s common law system has a number of very essential elements which are crucial and important to the business community. But at the same time, precisely because Hong Kong is a part of China, we also have very unique and important connection with the Mainland’s legal system, which is unparalleled. So this is the short answer. But to make good my point, I would like to focus on, in my belief, six very important characteristics of Hong Kong’s common law system.
 
My first point is that Hong Kong’s common law system is very stable. Hong Kong is the only common law jurisdiction within China and the continuation of the practice of common law system is guaranteed by the Basic Law, which is a constitutional document. So this is something that is not going to change. I also wish to use a very recent example to demonstrate the confidence that both China and the international community has in Hong Kong. On May 30, 2025, the convention concerning the establishment of the International Organization for Mediation was signed in Hong Kong. It was signed by 33 countries around the world including China and many countries in Southeast Asia, Africa, Latin America and even in Europe. I think the population of all these countries added together, cost you about one third of this world’s population.
 
The Minister of Foreign Affairs, Mr Wang Yi, came to Hong Kong and gave a very important speech. He explained why the party decided to hold the signing ceremony in Hong Kong, and more importantly, to set up the headquarters of the International Organization for Mediation in Hong Kong. The reason is that, because of “one country, two systems”, Hong Kong has the best of both worlds. On the one hand, we have a very strong common law tradition. But on the other hand, the People’s Republic of China is a civil law system. So we are a common law system in the context of a civil law system. That gives us a unique strength which makes it the perfect place to host the headquarters of the International Organization for Mediation. This is my first point – Hong Kong’s common law system is very, very stable.
 
The second point is that Hong Kong’s common law system is very user-friendly. Hong Kong is in fact the only bilingual common law system in the world, using both English and Chinese. So all our statutes will be written in both languages. And of course, English is the language for the international business community. But apart from language, we have been working very hard to ensure that our legislation and   common law will meet the demand of the changing needs of the international community, or make it even more attractive. I wish to cite one recent example. In mid-May this year, we have just amended our company law to make it easier for companies being operated overseas to re-domicile to Hong Kong, so that these overseas companies can take advantage of the tax policy and regulatory regime in Hong Kong. And I understand that two major insurance companies have indicated that they will re-domicile to Hong Kong in November this year.
 
My third point is that Hong Kong’s common law system provides a very safe and secure environment. Under the Basic Law, free flow of capital is guaranteed, free movement of properties including money in all forms of property is guaranteed. For as long as your investment, your money, your property, your business in Hong Kong, they are well protected by a very sophisticated regulatory regime administered by bodies such the Securities and Futures Commission, our Independent Commission Against Corruption and so on and so forth. One of the good reputation that Hong Kong enjoys is that corruption or malpractice is almost absent. So there’s no concern of corruption and other sort of malpractice. At the same time, we also make tremendous effort in ensuring that people can explore new opportunities in the safe environment. The recent example is the Stablecoins Ordinance. The Stablecoins Ordinance was enacted and will come into effect on August 1. Under this new ordinance, there will be a licensing regime for people or for traders in stablecoins. So we will allow trading and use of stablecoins subject to a very strict set of regulation to ensure that people will not be exposed to unnecessary risks. So this is my third point – Hong Kong’s common law system provides a very safe and secure environment.
 
The fourth point is that Hong Kong’s common law system is extremely credible. One of the key reasons is that Hong Kong has a very independent and reputable judiciary. Our courts enjoy the final power of adjudication. And one special feature is that in our Court of Final Appeal, we have invited eminent judges from other common law jurisdictions to sit on a part-time basis. So at the moment, there are six foreign non-permanent judges. Two come from England, they are Lord Hoffmann and Lord Neuberger, three from Australia and one from New Zealand. The most recent appointment was made and confirmed in June, Sir William Young, who used to be a judge of the Supreme Court of New Zealand. Apart from Court of Final Appeal, we also invite judges from other common law jurisdictions to sit in our Court of First Instance.
 
But litigation is not the only means of resolving disputes. Hong Kong is also very famous for its international arbitration service. In the very recent Queen Mary University of London’s survey, which is the most important international survey on arbitration, Hong Kong ranked second in the world after London, Hong Kong and Singapore both ranked the second. The important thing that’s worth noting is that among the cases handled by the most important institution, the Hong Kong International Arbitration Centre (HKIAC), almost 70 per cent of those cases are international in nature in the sense that either one of the parties would be a party not from Hong Kong. Even more importantly, around 15 per cent of cases handled by the HKIAC, in those cases, neither party came from Asia. So the only reason that they chose Hong Kong is, of course, because they’re confident in our arbitration service. This is my fourth point – Hong Kong’s system is very credible.
 
My fifth point is that Hong Kong has an abundant supply of high-quality legal professionals with rich experience in handling cross-boundary or transboundary matters. Hong Kong’s legal profession is divided into two branches based on the English system. We have around 1 700 barristers who are specialists in dispute resolution. They will be engaged and instructed to appear in court in litigation and very often in arbitration. There are around 110 Senior Counsel, which will be equivalent to King’s Counsel in England. And on top of that, we adopt a very open policy. So on some cases, we will allow London Silk, a Senior Counsel, a King’s Counsel from London to take part in litigations in Hong Kong.
 
Turning to another branch of the legal profession, the solicitors, I think there are more than 11 000 solicitors in Hong Kong, more than 900 law firms, and almost 400 of these law firms would either have offices outside Hong Kong or representative offices in Mainland China. And insofar as France is concerned, I think there are around 14 law firms in Hong Kong which have offices in France and there are also five French law firms having office in Hong Kong. So France does have a significant presence in Hong Kong. And also we have offices, lawyers practicing here in Paris. The point that I wish to make is that the legal service provided in Hong Kong is very international, so if you instruct a Hong Kong lawyer, you are not simply receiving Hong Kong legal service, you are receiving global legal service, so this is my fifth point.
 
The last point is the very special and unique connection between the Hong Kong’s common law system and the Mainland’s civil law system. I wish to use a few examples. Up to the present, Hong Kong and the Mainland have signed nine very important mutual legal assistance arrangements. And the most often used arrangement concerns the recognition and enforcement of arbitration awards. So an arbitration award in Hong Kong can be easily enforced and recognised on the Mainland under the scheme substantially the same as that under the New York Convention. And more importantly, back in 2019, Hong Kong and Mainland China have entered into a very special arrangement, under which for arbitrations administered by specific arbitration institution in Hong Kong, the parties will be at liberty to appear or to apply before the Mainland Court for interim measures. For example, interim injunctions preserving assets or evidence that turn out to be an extremely important practical tool. So ever since the scheme came into effect on October 1, 2019, up to May this year, there were around 146 applications and the amount involved in these interim injunctions will be in the region of about US$5 billion. That’s a piece of evidence demonstrating the practical utility of this measure.
 
My last example concerns a very recent measure introduced in February this year. It concerns the Greater Bay Area, which consists of Hong Kong, Macau, and also nine important cities in the Guangdong Province. The size of the Greater Bay Area is more like Croatia, and the population is around 86 million. And the GDP of the Greater Bay Area has already exceeded Australia, which would be the top 10 to consider as a single economic entity. So back in February, we introduced a new measure, which allows Hong Kong enterprises in certain cities in the Greater Bay Area to have the option of choosing Hong Kong law as the governing law to regulate their contracts, and also to choose Hong Kong as the seat for arbitration. Because in the past, if a foreign company or even a Hong Kong company set up an establishment on the Mainland, you have to use Mainland law. And for arbitration, you can only do the arbitration on the Mainland, so the options that I’ve just mentioned were not open. The other important point is that, insofar on the definition of Hong Kong enterprise is concerned, it doesn’t matter the percentage of interest owned by the Hong Kong party. For example, it’s very easy for a French company to come to Hong Kong to find a partner, a Hong Kong partner, which may hold a very small interest, say one per cent. So as long as there’s some common interest, it will be qualified as a Hong Kong enterprise, and that will give you the liberty to choose Hong Kong law or to use Hong Kong as a place of arbitration, so this is my sixth point.
 
To sum up, Hong Kong’s common law system is stable, it’s very user-friendly, it’s very safe and secure, it’s very credible, and we have an abundant supply of international legal professionals. And lastly, we have very unique connection with the Mainland system. And my dear friends, it’s really the combination, it’s really the sum total of these six elements, which in my view, render Hong Kong a unique gateway. Hong Kong is definitely not the only gateway, but I’m very confident to say that because of the matters that I mentioned, Hong Kong as a gateway is unique. It’s unparalleled. It’s something that you cannot find elsewhere.
 
President Xi Jinping said that the rule of law provides the best business environment (法治是最好的營商環境). I think Hong Kong offers the best business environment because we have a very strong rule of law based on a common law system, which has all the unique characteristics that I said. I think Hong Kong’s reputation is very recognised internationally. According to a survey done by the IMD, the International Institute for Management Development based in Switzerland very recently, in terms of global competitiveness, Hong Kong ranked the third. Hong Kong actually ranked the second in terms of government efficiency and business efficiency. When it comes to our tax policy and business legislation, Hong Kong actually ranked the first. I think this is a very objective assessment of the reputation enjoyed by Hong Kong.
 
Ladies and gentlemen, I’m sure that you will be more convinced by what I have just said after hearing from our very eminent speakers who will share their experience in handling legal matters or in relation to China, Hong Kong and also France in the next two hours or so. Now, to conclude, I would like to thank all of you again for joining this legal seminar, and I sincerely hope that you will find today’s seminar constructive and enjoyable. Thank you very much.

Source: Hong Kong Government special administrative region – 4

The Secretary for Justice, Mr Paul Lam, SC, arrived in Paris, France, on July 8 (Paris time) to continue his European visit. He attended a Hong Kong legal services seminar organised by the Department of Justice (DoJ) and met with representatives of international organisations to introduce Hong Kong’s advantages in legal services and its arbitration system.
 
In Paris, Mr Lam first met with the President of the Financial Action Task Force (FATF), Ms Elisa de Anda Madrazo. Noting that the FATF leads global action to tackle money laundering and terrorist financing, Mr Lam said that Hong Kong, as an international financial centre, has always supported the FATF’s work in maintaining the stability of the international financial system, and that the DoJ has actively participated in mutual evaluations among FATF member jurisdictions.
 
Afterwards, Mr Lam visited the Paris Maritime Arbitration Chamber (Chambre arbitrale maritime de Paris) and met with the Secretary General of the Paris Maritime Arbitration Chamber, Mrs Pascale Mesnil, to learn about its operation and the situation in the French arbitration sector, as well as developments in resolving international maritime disputes through arbitration. Mr Lam said that Hong Kong has been committed to optimising its arbitration system through multi-pronged policy measures, enhancing and consolidating its status as an international legal and dispute resolution services centre in the Asia-Pacific region. Mr Lam also expressed hope for deepening exchanges and co-operation with the French arbitration sector.
 
On the morning of July 9 (Paris time), Mr Lam visited the office of the French National and Olympic Sports Committee (CNOSF) and met with representatives of the Chamber of Arbitration for Sport (Chambre Arbitrale du Sport) and the Conference of Conciliators of the CNOSF to learn about the committee’s services in sports arbitration and conciliation, and he introduced the DoJ’s work in promoting the development of sports dispute resolution in Hong Kong.
 
At noon, Mr Lam attended a luncheon hosted by the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the French Republic, Mr Deng Li, and briefed him on Hong Kong’s efforts in safeguarding national security, ensuring the implementation of the principle of “one country, two systems” by rule of law, and leveraging its unique advantages to promote development in various aspects.
 
In the afternoon, Mr Lam attended the Paris Seminar entitled “Hong Kong Legal Services – Gateway to China and Beyond”, which was organised by the DoJ, sharing with about 130 guests and participants the unique advantages of Hong Kong’s legal services under the principle of “one country, two systems” with guests. In his keynote speech, Mr Lam said that Hong Kong is the only common law jurisdiction in China and the only jurisdiction in the world with a bilingual common law system in both Chinese and English. As an international legal and dispute resolution service centre, Hong Kong’s common law system is rigorous and mature, belonging to the same legal system as the world’s major economies and in line with international trade and business rules. Hong Kong’s legal services industry is professional and comprehensive, providing high-quality legal services to global financial and commercial activities. Two panel sessions were held afterwards to discuss the co-operation between Hong Kong and France in commercial law, as well as the latest developments in the mechanism of arbitration and alternative dispute resolution.
 
During the Paris Seminar, Mr Lam also witnessed the signing of a Memorandum of Understanding between the eBRAM International Online Dispute Resolution Centre and Jus Mundi, an AI-powered legal research platform based in Paris, to further enhance co-operation in legal and alternative dispute resolution between the two places.
 
Mr Lam will depart for Rome, Italy, today (July 10, Paris time) to continue his visit programme.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

The Lands Department (LandsD) today (July 10) posted land resumption notices and acquisition notices for the developments of San Tin Technopole (STT) (Phase 1) (First Batch) and Sam Po Shue Wetland Conservation Park (SPS WCP) (First Phase), in accordance with relevant ordinances.

Section 4 of the Lands Resumption Ordinance (Chapter 124) and section 4 of the Land Acquisition (Possessory Title) Ordinance (Chapter 130) will be invoked.

For STT (Phase 1) (First Batch), 1 309 private lots with an area of about 62 hectares will be resumed by the Government. Government land occupied by 20 graves and 42 urns, as well as 25 fishponds of about 700 square metres and about 7.5 hectares respectively, will also be acquired. In addition, for the establishment of SPS WCP (First Phase), about 85.2 hectares of government land occupied by 110 fishponds will be acquired by the Government. The land will revert to and vest in the Government upon the expiry of a period of three months from the date of affixing the notices (i.e. October 11, 2025).

The abovementioned land reversion date and land vesting date are not the departure deadlines for the affected households and business undertakings. The LandsD will post notices in relevant areas about three months before the departure deadlines for the affected parties. According to the project programmes, the affected parties are scheduled to depart in batches. The estimated departure date for STT Phase 1 Stage 1 works will be in batches mainly from the first quarter of 2026 to the second quarter of 2027, whereas the estimated departure date for SPS WCP (First Phase) will be in batches mainly from the fourth quarter of 2026 to 2027. The LandsD and its appointed Community Liaison Service Team will closely liaise with the affected parties to handle compensation and rehousing matters.

The STT (excluding the Loop), with an area of about 540 hectares, will be developed in two phases, with Phase 1 development of about 365 hectares. The works for Phase 1 development are subdivided into two stages, with an area of about 158 hectares for Stage 1 works and about 207 hectares for Stage 2 works. The Stage 1 works commenced late last year. As previously stated publicly, the Government will not carry out pond filling works before commencing works for SPS WCP in 2026/2027. Upon full development, the STT will provide about 50 000 residential flats, accommodating a new population of more than 150 000. It will also create about 160 000 employment opportunities. The first population intake of about 18 000 under Phase 1 Stage 1 development will start progressively from 2031 onwards.

SPS WCP, spanning over 300 hectares, will also be developed in two phases. The works of SPS WCP (First Phase) covering an area of about 150 hectares will commence in 2026/2027 (including the abovementioned proposed acquisition of land of about 85.2 hectares) for completion in 2031. The park serves multi-functions to conserve the Deep Bay wetlands, facilitate the modernisation of the aquaculture industry, as well as create environmental capacity and compensate for the impact on ecology and fisheries resources. The entire park is expected to be completed by 2039 to align with the estimated time for full operation of the STT.

Source: Hong Kong Information Services

Hong Kong, China has achieved outstanding results in the International Maritime Organization (IMO) Member State Audit Scheme, the Transport & Logistics Bureau announced today.

 

The audit was conducted to examine the relevant obligations Hong Kong fulfilled in relation to the mandatory IMO instruments.

 

The audit was carried out from November 4 to 13, 2023, and the results, which were recently published, showed the outstanding performance by Hong Kong in multiple audit areas, especially its shipping registry.

 

The bureau said that the audit result testifies to Hong Kong’s commitment to go above and beyond in fulfilling international obligations.

 

It added that Hong Kong, as an IMO associate member, will continue to maintain its outstanding performance and consolidate its position as a leading international maritime centre.

 

The bureau also noted that the Hong Kong Shipping Registry ranks fourth in the world in terms of gross tonnage, and the fleet of Hong Kong-registered ships is renowned globally for its good quality.

 

It highlighted that the consistently low detention rate of Hong Kong-registered ships under worldwide Port State Control inspections at 0.69% is significantly lower than the global average of 3.30%, reflecting Hong Kong’s constant effort in maintaining and enhancing the safety, reliability and credibility of its fleet.

 

The audit scrutinised Hong Kong in fulfilling its flag, coastal and port obligations.

 

The audit team appreciated that Hong Kong had well-documented procedures on fulfilling its obligations related to the mandatory IMO instruments, and implemented the relevant requirements through local legislation and guidance dissemination in a timely manner.

 

The Marine Department (MD) also carried out periodic management reviews as well as internal and external audits for effective implementation of those instruments.

 

The audit further revealed several areas of positive development and good practices of Hong Kong, which demonstrated a drive to promote safety awareness and a pollution prevention culture among stakeholders in the maritime sector.

 

One of the good practices is to ensure the compliance of ships flying the Hong Kong flag with the mandatory IMO instruments by requiring their regular and appropriate completion of pre-arrival checklists.

 

The MD also disseminated useful information through such means as holding regular meetings and seminars with stakeholders, and issuing circulars and Merchant Shipping Information Notes to notify stakeholders of the latest mandatory IMO requirements in a timely manner.

 

Meanwhile, the audit identified two findings and one observation on areas where Hong Kong could improve, including the need to more comprehensively monitor the communication of mandatory information to the IMO and track the attendance of government surveyors at trainings.

 

Soon after the audit, the Hong Kong Special Administrative Region Government proposed and took actions, which were accepted by the IMO, to address the findings and observation.

Source: Hong Kong Information Services

The Education Bureau announced today that classes of all day schools will be suspended tomorrow as the weather conditions are expected to remain severe due to the impact of the torrential rain and squally thunderstorms brought by the remnants of Tropical Cyclone Danas.

The steering committee on handling extreme weather, led by the Chief Secretary, announced the decision in response to the development of weather conditions.

The move was made to ensure the safety of students, and considering that schools across the city may have already started their summer break, the actual impact of a class suspension on students’ learning and teaching is relatively small.

The Secondary One registration procedures were originally scheduled for today and tomorrow at the allocated secondary schools. Considering that some parents may have already made arrangements to register at the schools today, the original whole-day registration arrangements for today will remain unchanged.

If parents choose to register their child at the allocated secondary school today, they should pay attention to the weather conditions and ensure safety. For safety reasons, parents should not bring their children to the school for registration.

The registration originally scheduled for tomorrow will be rescheduled to July 14. If parents are unable to register in person or through an authorised representative on the above dates, they should contact the allocated secondary school or the Education Bureau’s School Places Allocation Section at 2832 7700 or 2832 7740 to make appropriate registration arrangements.

Additionally, units under the Social Welfare Department providing child care centre services, services under the Neighbourhood Support Child Care Project, and after school care programmes for pre-primary or primary school children will not be open to the public tomorrow.

Citizens in need may contact the centres or services units concerned for assistance.

The Home Affairs Department is ready to activate the Emergency Co-ordination Centre as soon as necessary and open temporary shelters for people in need of temporary accommodation.

The Drainage Services Department (DSD) has made special arrangements to inspect and carry out necessary clearance at about 240 locations prone to flooding due to blockages. 

Members of the public are advised to report any street flooding to the DSD by calling the 24-hour drainage hotline at 2300 1110.

The committee urges people to remain alert, stay away from dangerous places such as rivers and slopes in adverse weather conditions, refrain from water sports, and to pay attention to the latest news released by the Government.

Source: Hong Kong Information Services

With adverse weather conditions forecast for Hong Kong, Chief Secretary Chan Kwok-ki today chaired a meeting of the steering committee for the handling of extreme weather.

 

The meeting was convened to review and steer cross-departmental preparations and response plans with respect to typhoons, rainstorms and thunderstorms.

 

Tropical Cyclone Danas, now over Fujian, is forecast to enter Guangdong tomorrow and weaken gradually. An active southwest monsoon to its south will generally affect the vicinity of the Pearl River Estuary tomorrow and Friday, and there will be torrential rain and squally thunderstorms over Hong Kong, with the weather possibly becoming relatively severe by then.

 

Members of the public are advised to pay attention to the latest weather forecasts and warnings from the Observatory.

 

At the meeting, the Drainage Services Department reported that it had made special arrangements to inspect and carry out clearance at about 240 locations which are prone to flooding due to blockages. 

 

The “just-in-time” arrangement will continue, with 180 emergency response teams conducting inspection and clearance of drainage channels in different districts across the city.

 

The Highways Department will inspect flood warning systems installed at road tunnels and pedestrian subways with a higher risk of flooding. Locations include the Kwun Tong Road Underpass and pedestrian subways along the Shing Mun River in Sha Tin, the Lam Tsuen River in Tai Po and the Tai Po River. 

 

Meanwhile, District Offices have also initiated relevant response measures, including co-ordinating with other departments and organisations to enhance preparedness. They will mobilise District Council members, members of “the three committees” and Care Team members to disseminate the latest weather information to residents in flood-prone areas, reminding them to make necessary preparations.

 

The Security Bureau’s Emergency Monitoring & Support Centre (EMSC) will be fully activated from 5pm tomorrow to monitor the situation in the city.

 

Utilising the Common Operational Picture, the EMSC will conduct real-time citywide monitoring, and integrate updates from various departments to swiftly assess risks and formulate response plans and measures.

 

Various emergency response teams – including the Fire Services Department, the Police Force, the Civil Aid Service and the Auxiliary Medical Service – have completed all necessary preparatory work and are on standby in order to handle possible emergencies during heavy rainstorms and high winds, and to provide assistance to those in need.

 

Moreover, the Transport Department’s Emergency Transport Co-ordination Centre will operate round-the-clock to closely monitor traffic and transport conditions in co-operation with public transport agencies. It will disseminate emergency traffic information and public transport service arrangements to the public in a timely manner.

 

The Education Bureau will also closely monitor the weather conditions and announce arrangements for schools and for Primary Six students’ registrations with their allocated secondary schools in a timely manner to allow parents and students to make early preparations.

Source: Hong Kong Information Services

Secretary for Health Prof Lo Chung-mau will depart for a visit to Nanjing tomorrow and return to Hong Kong the following day.

 

During the visit, Prof Lo will meet health officials of Jiangsu Province and introduce the latest developments of healthcare policies in Hong Kong to them.

 

He also plans to attend the 13th Nanjing Academic Symposium on Hepatobiliary Surgery & Liver Transplantation with the aim of deepening exchanges and collaboration on healthcare related areas with the Mainland.

 

As part of Prof Lo’s agenda, he will visit pharmaceutical companies and hospitals there to introduce the latest progress in enhancing Hong Kong’s drug approval mechanism and registration regime, and share the city’s experiences in strengthening hospital management and services.

 

During his absence, Under Secretary for Health Libby Lee will be Acting Secretary.

Source: Hong Kong Government special administrative region

     The Invest Hong Kong (InvestHK) seminar – Meeting Our Leading VCs in Hong Kong – concluded today (July 10), gathering over 200 fintech enterprise founders, venture capital (VC) leaders and industry experts to help inject new vitality into the future prosperity of Hong Kong’s fintech ecosystem.
      
     InvestHK has been linking global fintech enterprises with local and international capital resources. Hong Kong’s capital environment has shown strong vitality and new opportunities recently. The Government is providing public funding support and introducing measures to accelerate the development of fintech and related areas such as Web3 and AI. Moreover, as of the end of June 2025, the investment amount brought by the New Capital Investment Entrant Scheme into Hong Kong is expected to be over HK$46.4 billion, reinforcing Hong Kong’s standing as a pre-eminent international investment hub.  
      
     For private capital, Hong Kong’s advantages are becoming increasingly prominent. Hong Kong has the second-largest capital pool in the Asia-Pacific region, after only the Mainland, with managed private equity funds over US$233.9 billion as of the first half of 2024. As the largest hedge fund centre and cross-border wealth management centre in Asia, Hong Kong continues to attract global capital. Since the Hong Kong Special Administrative Region Government issued the Policy Statement on Developing Family Office Businesses in Hong Kong, the family office business has developed rapidly. There are more than 2 700 single-family offices operating in Hong Kong, and the scale of managed assets continues to rise. New listing volumes on the Stock Exchange of Hong Kong jumped around eight times to US$14 billion in the first half of 2025, fully demonstrating the attractiveness of Hong Kong’s financial market.
      
     This seminar created a valuable opportunity for start-ups and growing enterprises to connect with well-known VC leaders. At the seminar, experienced investors shared market patterns and trends in Hong Kong, Southeast Asia, the Middle East and other markets. For VCs, through the Global Fast Track programme and the invitation-only online business matching platform Fast-Track Connect, they have accelerated access to high-quality deal flows and strengthened strategic investment networks.
      
     Director of MindWorks Capital Mr Jeffrey Wu highlighted Hong Kong’s unique advantages for fintech startups, namely a transparent regulatory regime, deep offshore capital markets, and a trusted legal system, which make it an ideal springboard for regional and global expansion. Founding Partner of Wings Capital Ventures Mr Jonathan Wu said that as connectivity between Mainland and Hong Kong continues to accelerate, demand for cross-boundary financial services is growing at a remarkable pace. The Mainland’s strengths, including its abundant software development resources and rapid innovation cycles paired with Hong Kong’s international market and diverse application scenarios, create a promising synergy.
      
     The Managing Partner of 01Fintech Limited, Mr Kenny Man, emphasised that the Southeast Asian market has huge potential, and fintech enterprises should seize the opportunity to expand their business there. He also noted that the event provided valuable exposure to high-potential fintech innovations, reinforcing Hong Kong’s role as a global fintech hub with rich cross-border opportunities. These insights provide valuable reference for 01Fintech’s investment strategy in the region. Founding General Partner of Transcend Capital Partners Ms Winnie Leung also mentioned that Hong Kong is truly where East meets West, offering a vibrant fusion of cultures and business opportunities. With a substantial amount of capital available, it stands as an ideal hub for exciting venture capital projects.  
      
     In addition, the Head of FinTech of Cyberport, Mr Victor Yim, shared the experiences and achievements of Cyberport in supporting fintech and Web3 enterprises. The Senior Manager, New Ventures Development of Hong Kong Science and Technology Parks Corporation (HKSTPC), Ms Josephine Chan, introduced the innovative resources and development platforms provided by HKSTPC for enterprises.
      
     The Global Head of Financial Services, FinTech & Sustainability at InvestHK, Mr King Leung, concluded, “This seminar has not only built a bridge for exchanges and co-operation among Hong Kong’s fintech industry, it has also brought new impetus to shape the global fintech funding landscape. Through seminars like this, enterprises and investors can conduct in-depth exchanges, jointly seize market opportunities, and achieve mutual benefits and win-win results. This promotes the development of the fintech industry and further consolidates Hong Kong’s leading position in the global fintech field. We will continue to organise such high-quality activities, both online and offline, to contribute to the development of the industry.”