Month: September 2025

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Mortgage Corporation Limited (HKMC) announced that it has signed a Memorandum of Understanding (MOU) with the China International Capital Corporation Limited (CICC) in Hong Kong, China on co-operation of infrastructure financing and securitisation (IFS).

     Both parties will enhance co-operation across multiple areas, such as making joint efforts to tap into capital market opportunities related to infrastructure assets, expanding the investor base as well as exploring Renminbi opportunities for infrastructure loan securitisation, with a common goal of consolidating Hong Kong’s position as an infrastructure financing hub and facilitating infrastructure investment and financing flows.

     The Executive Director and Chief Executive Officer of the HKMC, Mr Colin Pou commented, “The HKMC’s IFS platform has grown tremendously in the past few years, and we continue to expand our collaboration with industry participants in promoting the market. A partnership with the CICC is expected to assist in taking our business to the next level, enabling both sides to further pursue a common goal in promoting Hong Kong as an infrastructure financing hub. “

     The Chairman of the Board of Directors and the Chairman of the Management Committee of the CICC, Mr Chen Liang stated, “The CICC has a long history of deep engagement in the international financial markets, which enables us to integrate a global perspective with profound insights about the Chinese market. We sincerely look forward to enhancing collaboration with the government-owned platform of the Hong Kong Special Administrative Region, as this partnership holds significant potential to elevate China’s role in global finance, amplifies our influence among international clients and investors, and drives a new phase of high-level opening up.”
 
About HKMC
 
     The HKMC, established in 1997, is wholly-owned by the Hong Kong Special Administrative Region Government through the Exchange Fund. Operating on prudent commercial principles, the HKMC strives to promote stability of the banking sector, wider home ownership, as well as development of the local debt market and retirement planning market.
 
     To further its mandates on promoting banking sector stability and local debt market development, the HKMC commenced the implementation of the infrastructure financing and securitisation business in 2019, with the aims to fill the infrastructure financing market gaps and to facilitate more efficient capital flow into infrastructure projects.

     The HKMC has issued Infrastructure Loan Backed Securities (ILBS), Bauhinia 1, in May 2023, and Bauhinia 2 in September 2024, with a total value of approximately US$405 million and US$423 million respectively to institutional investors. The issuance of the ILBS represents an important step taken by the HKMC towards developing an infrastructure financing and securitisation platform in Hong Kong to solidify Hong Kong’s status as the global infrastructure financing hub.
 
About CICC
 
     The China International Capital Corporation Limited (CICC, 601995.SH, 3908.HK) was established in 1995. The CICC’s experience in professional services includes leading multiple milestone transactions, demonstrating its deep engagement in China’s economic reform and development. The CICC’s vision is to become a respected, innovation-driven, leading global investment banking institution. As an investment banking institution with Chinese roots and international reach, the CICC continues bringing first-class financial services through its extensive network and outstanding cross-border capability to help its clients accomplish their strategic development goals.

Source: Republic of China Taiwan

Vice Minister of Economic Affairs Chien-hsin Lai led a delegation to attend the “15th APEC Energy Ministerial Meeting,” held on August 27-28 in Busan, South Korea. He shared Taiwan’s achievements in renewable energy development, strategies for enhancing grid resilience, and examples of artificial intelligence (AI) applications in the energy sector. Representatives from member economies and industries at the meeting unanimously recognized the importance of pursuing strong, balanced, secure, and sustainable economic growth.

The meeting was chaired by Minister Kim Jung-Kwan of South Korea’s Ministry of Trade, Industry and Energy. Member economies unanimously approved the post-meeting Joint Statement on the Energy Ministerial Meeting, announcing the theme chosen by the host Korea: “accelerating sustainable, affordable, reliable, secure, and innovative energy for a prosperous future.” The statement emphasizes accelerating energy system modernization and innovation through the development and deployment of technologies. The joint statement also highlights consensus reached by each economy to broaden access to energy supplies by reinforcing power grids as well as developing and enhancing resilience of other energy infrastructure, while respecting the energy security of each economy, and to promote the secure adoption of a broad range of technologies in a responsible manner, including digital and emerging technologies such as AI.

In his remarks at the opening ceremony, Vice Minister Lai highlighted that Taiwan’s offshore wind power capacity had risen to fifth in the world in 2024, with the country ranking second globally in annual newly installed offshore wind capacity, demonstrating the effectiveness of Taiwan’s energy diversification strategy. During the discussion on “Electricity Expansion for a Stable Supply,” he emphasized that Taiwan, as a densely populated island economy, faces continuously growing electricity demand and a centralized grid structure. Since 2022, Taiwan has implemented the “Grid Resilience Strengthening Construction Plan,” focusing on decentralized grid, robust grid engineering, and enhanced system protection. Complemented by the deployment of microgrids and energy storage systems, the plan aims to ensure the stability of the power supply system and prevent single incidents from causing widespread, prolonged outages.

On the topic of “Strengthening Grid Security and Reliability” during the meeting, member economies agreed on the importance of expanding transmission capacity and modernizing the grid, through energy storage systems and cross-border electricity trade to ensure regional power stability. Vice Minister Lai shared that Taiwan is committed to improving the flexibility of power dispatch and balancing electricity demand during peak and off-peak periods, while simultaneously promoting the deployment of energy storage systems at both the generation and consumer ends. In addition, the government is investing nearly USD 20 billion to build a more robust power system, enhance information transparency, and apply AI technologies to improve energy efficiency, thereby further enhancing grid security and reliability.

During the session on “AI-Driven Energy Innovation,” Vice Minister Lai emphasized Taiwan’s commitment to AI development. Beyond its application in high-tech industries, this innovative technology is also being extended to small and medium-sized enterprises. As an example, the “Adaptive Cold Energy Management System (ACEMS)” implemented in convenience stores leverages intelligent energy management to effectively reduce peak loads and overall energy consumption, achieving average energy savings of 10-15%.

The Ministry of Economic Affairs noted that through participation in this year’s APEC Energy Ministerial Meeting, Taiwan engaged in in-depth bilateral exchanges with the host, South Korea, and over one-third of member economies on topics such as renewable energy, grid resilience, and AI applications. Taiwan has utilized this important multilateral platform to demonstrate its determination in promoting energy security and resilience, while continuing to deepen cooperation and connections with international partners in the pursuit of energy transition.

Spokesperson for Energy Administration, Ministry of Economic Affairs: Deputy Director General, Chih-Wei Wu
Contact Phone Number: 02-2775-7750, 0922-339-410
Email Address: cwwu@moeaea.gov.tw

Business Contact: Director, Fang-Ling Liao
Contact Phone Number: 02-2775-7710, 0912-089-923
Email Address: flliao@moeaea.gov.tw

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

     Following is the speech by the Financial Secretary, Mr Paul Chan, at the Biotechnology Investment Forum of BIOHK2025 today (September 11):

Albert (Chairman of the Hong Kong Biotechnology Organization and President of BIOHK2025, Professor Albert Yu), distinguished guests, ladies and gentlemen,
A dynamic I&T ecosystem 

Source: Hong Kong Government special administrative region – 4

The 10th Belt and Road Summit which opened today (September 10) and runs for two days brought together over 6 000 participants, including more than 90 government and business speakers, as well as over 100 delegations, to explore the opportunities arising from areas such as trade and commerce, investment, innovation and technology and green development, and yielded a record high of about 50 government and enterprise memorandums of understanding (MOUs), highlighting Hong Kong’s role as the functional platform for the Belt and Road Initiative (B&RI).

Hosted by the Hong Kong Special Administrative Region (HKSAR) Government since 2016, the Summit is a flagship event for Hong Kong’s participation in and contribution to the B&RI, and has become the premier B&R business and investment platform for local, Mainland and overseas enterprises. Under the theme “Collaborate for change • Shape a shared future”, the 10th Summit featured new elements such as market spotlights, signature projects and collaborative capacity for sustainable development, exploring further collaboration opportunities for enterprises, the local professional services sectors and people-to-people exchanges.

Speaking at the opening session, the Chief Executive, Mr John Lee, said the Belt and Road Summit has united governments, businesses, peoples and cultures in collaboration for change. He said that over the past 10 years, more than 45 000 people from some 120 countries and regions have participated in the summit, with over 2 800 projects presented, shaping a shared vision through collaboration and connectivity, which are the fundamental values of the B&RI.

Mr Lee said, “The HKSAR Government is rapidly expanding Hong Kong’s global trade networks. I have visited 12 Belt and Road countries in the past three years, leading high-level business delegations from Hong Kong to most of them and witnessing some 160 MOUs, and co-operation agreements and deliverables with the respective economies. We have signed free trade agreements with 14 Belt and Road countries, and investment agreements with about 20 Belt and Road economies, as well as Comprehensive Avoidence of Double Taxation Agreements with 37 Belt and Road jurisdictions. Our external trade with Belt and Road countries exceeded US$276 billion last year, up about 80 per cent since 2013 and three times the average growth rate of Hong Kong’s external merchandise trade over the same period. ”

Mr Lee also introduced Hong Kong’s advantages and developments in such areas as trade and investment, competitiveness, talent, connectivity, green and sustainable development and the legal system, highlighting that Hong Kong is an ideal B&R hub. He remarked that as the only world city that converges both the China advantage and the global advantage, Hong Kong stands as the premier gateway for co-operation, bridging people, trade, business, education, culture and values across the region, connecting Asia and the world. He said that Hong Kong’s “dual superpower” as a “super connector” and “super value-adder” injects vigour, innovation, sustainability and strategic value to capital and projects, and will continue to drive high-quality development along the B&R.

Also addressing the opening session were Vice Minister of Commerce Mr Yan Dong; Vice Chairman of the State-owned Assets Supervision and Administration Commission of the State Council Mr Li Zhen; and Deputy Secretary General of the National Development and Reform Commission Mr Xiao Weiming. Deputy Prime Minister of Cambodia Mr Sun Chanthol delivered a keynote speech at the opening session.

The Financial Secretary, Mr Paul Chan, gave welcome remarks at the Keynote Luncheon titled “Fostering Regional Co-operation through Concrete Business Partnerships”. He shared with the audience how Hong Kong is fostering more partnerships and contributing to regional connectivity through leveraging on two important global trends – green and sustainable development, and digital innovation.

On green and sustainable development, Mr Chan highlighted the Government’s vision for Hong Kong to become an international centre for green technology and green finance, playing its pivotal role in driving global green transition. In the area of green finance, the Government is actively promoting the development of transition finance, while also addressing the diverse needs of emerging economies through innovative financial instruments such as catastrophe bonds and the securitisation of infrastructure debt. At the same time, Hong Kong is accelerating its development into a green technology hub, contributing to regional decarbonisation efforts through cutting-edge innovation.

Turning to digital innovation, Mr Chan said that for Belt and Road economies and the Global South, Hong Kong and the Mainland offers a wide spectrum of digital solutions, from fintech and smart health to cloud computing, 6G, and digital city management. Hong Kong has made AI one of our key strategic priorities, and is committed to building an open, collaborative and inclusive AI community. Meanwhile, it is embracing blockchain technology at the heart of financial innovation, leveraging on its potential to make cross-border transactions more efficient.

The Secretary for Justice, Mr Paul Lam, SC, gave welcome remarks at the thematic breakout session titled “Synergy in Legal Solutions: Co-creating a Shared Silk Road Vision”. He stated that the conclusion and execution of Belt and Road projects are bound to involve transboundary legal issues, in which international legal services are inevitable. Noting that Hong Kong international civil and commercial law and practice under its common law system are highly recognised by the international business community, Mr Lam highlighted Hong Kong’s advantages in various areas including the abundant legal professionals with rich experiences in international business law, credible and high-quality legal and dispute resolution services, and close legal collaborations with Belt and Road countries.

The Secretary for Commerce and Economic Development, Mr Algernon Yau, chaired the policy dialogue on “Embracing emerging opportunities in times of economic uncertainty” at which he discussed with overseas government officials on forging economic co-operation with innovation, such as green economy and digitalisation, amid the uncertain geopolitical situation. Mr Yau also highlighted that the B&RI provides a readily available platform for international co-operation in facilitating trade and economic integration. Citing infrastructure development as one of the key strengths of the B&RI, he said that it helps enhance market access and reduce trade barriers, thereby generating investment, creating jobs and improving living standards.

The Summit featured nine MOUs between the HKSAR Government and related organisations and their overseas counterparts to promote bilateral co-operation and exchanges, covering the Department of Justice, the Financial Services Development Council, the Independent Commission Against Corruption, Hong Kong Customs, the Hong Kong Observatory, the Hong Kong Trade Development Council, Invest Hong Kong and the Securities and Futures Commission, and Pakistan, Indonesia, Hungary, Qatar, Cambodia, Oman and the United Arab Emirates. The Summit also led to some 36 other MOUs in various areas. The total value of these MOUs, together with new projects and deals finalised before the summit, is close to US$1 billion.

Under the themes of “ASEAN: Unveiling new opportunities for growth and collaboration” and “Exploring frontiers in new markets and industries”, the plenary sessions gathered business leaders to discuss Hong Kong’s role in facilitating trade and business co-operation under the B&RI. A number of thematic breakout sessions covering areas such as legal services, trade and commerce, insurance, architecture, green finance and logistics were also held to focus on fostering a more prosperous, green and interconnected future for B&R countries and regions.

The HKSAR Government is proactively expanding overseas markets, especially the markets of the Association of Southeast Asian Nations (ASEAN) and the Middle East which present great potentials. The new B&R signature projects sessions at the Summit introduced tenders of urban development projects in Thailand and Saudi Arabia. The Belt and Road Office (BRO), together with the Hong Kong Construction Industry Council and the Hong Kong Trade Development Council, launched an information sharing mechanism to assist Hong Kong enterprises and professional services in tapping the business opportunities in projects in ASEAN and the Middle East.

The Summit was attended by over 200 Belt and Road Scholarship recipients, local university students, Youth Link members and Youth Development Commission Youth Ambassadors. A Youth Chapter will be held tomorrow (September 11) for young business leaders from Hong Kong, the Mainland and B&R countries to share their experience. The chapter’s new feature to foster exchanges among the participants will enable them to learn more about the latest B&R developments and opportunities.

For enhanced synergies, the Government has encouraged various groups and organisations to host more than 20 B&R-related activities in the months around the Summit period, covering areas such as trade and business, arts and culture, music, sports and academia, for the business and professional sectors as well as the general public to take part and experience in person the achievements of global collaboration under the B&RI. The BRO also published a booklet on Hong Kong as a participant, contributor and beneficiary of the B&RI. Details of the activities and the booklet are available on the BRO’s website www.beltandroad.gov.hk.

Source: Hong Kong Information Services

The 10th Belt & Road Summit opened in Hong Kong today, bringing together over 6,000 participants, including more than 90 government and business speakers, as well as over 100 delegations to explore opportunities in areas such as trade and commerce, innovation and technology.

Speaking at the opening session, Chief Executive John Lee said the summit has united governments, businesses, peoples and cultures in collaboration for change.

Mr Lee said that over the past 10 years, more than 45,000 people from some 120 countries and regions have participated in the summit, with over 2,800 projects presented, shaping a vision through collaboration and connectivity, which are the fundamental values of the Belt & Road Initiative.

“To mark this 10th edition, we are introducing a new session on signature Belt & Road projects. It will be complemented by project investment sessions on energy, natural resources, public utilities and urban development, including Hong Kong’s Northern Metropolis, which takes up one-third of Hong Kong’s geographical area and is fast rising as an innovation and technology hub.”

He added that Hong Kong’s “dual superpower” as a “super connector” and “super value-adder” injects vigour, innovation, sustainability and strategic value to capital and projects, and will continue to drive high quality development along the Belt & Road area.

Financial Secretary Paul Chan gave welcome remarks at the keynote luncheon, where he highlighted the Government’s vision for the city to become an international centre for green technology and green finance, playing its pivotal role in driving global green transition. 

The Government is actively promoting the development of transition finance, while also addressing the diverse needs of emerging economies through innovative financial instruments such as catastrophe bonds and the securitisation of infrastructure debt, he added.

Secretary for Justice Paul Lam gave opening remarks at the thematic breakout session, noting that Hong Kong international civil and commercial law and practice under its common law system are highly recognised by the international business community.

The summit featured nine memorandums of understanding between the Government and related organisations and their overseas counterparts, and yielded a record high of about 50 government and enterprise memorandums of understanding, highlighting Hong Kong’s role as the functional platform for the Belt & Road Initiative.

Source: Hong Kong Information Services

The Second Reading of the Registration of Same-sex Partnerships Bill was voted down by the Legislative Council today, with 14 votes in favour, 71 votes against and one vote abstaining. The Government said it respects LegCo’s decision and lawmakers’ voting results.

The Government added that it all along respects the rule of law and fulfils the requirements of the court’s ruling.

It highlighted that the bill was introduced in exercising the responsibility of the executive authorities empowered by the Basic Law to propose and introduce bills. In accordance with the Basic Law, LegCo has the functions and powers to scrutinise and pass bills.

The Government also pointed out that the introduction and scrutinising of the bill has demonstrated the shouldering of responsibilities among the executive authorities, LegCo and the Judiciary in exercising their constitutional functions and discharging their respective duties effectively.

As the bill has been voted down, the Government will not apply to the court for an extension of the suspension period and will further discuss and study the issue with the Department of Justice.

Source: Hong Kong Government special administrative region

    The Office of the Communications Authority (OFCA) today (September 10) urged members of the public to stay vigilant to fraudulent calls purporting to be made by the staff members of the Communications Authority (CA) or OFCA. 

    OFCA received reports from members of the public stating that they had received phone calls claiming to be made by the CA or OFCA’s staff, alleging that there were a large number of fraudulent short messages sent from mobile phone numbers registered under their identities on the Mainland. They were requested to co-operate with investigation or else all their telecommunications services would be terminated. 

    OFCA solemnly clarified that the CA and OFCA have never made and will not make such phone calls. Members of the public should hang up immediately if they have received these calls, and under no circumstances should they disclose their personal information or transfer money to the callers. 

    In case of doubt, members of the public may call the Anti-Scam Helpline 18222 for enquiries. They may also report cases of suspected phone scam to the Police. 

Source: Hong Kong Government special administrative region