Month: September 2025

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Hong Kong Monetary Authority:

The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) today (September 4) published the findings of their annual joint survey on the distribution of non-exchange-traded investment products, showing record sales and level of market participation for these products during 2024 (Note 1).

Total transaction amount of non-exchange-traded investment products by licensed corporations (LCs) and registered institutions (RIs) surged 40 per cent year-on-year to a record $6,073 billion in 2024 (Note 2). Market participation also witnessed broad-based growth last year. The number of firms engaged in the sale of investment products grew by 9 per cent to a new high of 414, with an overwhelming 46 per cent more than doubling their sales year-on-year. The number of large firms saw a 12 per cent increase to 101 (Note 3). Also setting new record highs are the manpower deployed to distribute investment products, which rose by 4 per cent to more than 19 000, and the number of clients completing at least one transaction, which increased by 28 per cent to over 1.2 million (Note 4).

All major investment product types recorded significant sales growth in 2024. Sales of authorised collective investment schemes (CIS) grew 96 per cent to $1,400 billion and unauthorised CIS grew 50 per cent to $844 billion. Sales of structured products and debt securities increased by 30 per cent and 29 per cent year-on-year, respectively. Respondent firms generally observed stronger investor sentiment compared with the previous year as investors actively pursued products that suit their risk appetites and investment goals.

Equity-linked products thrived amidst strong market momentum and remained the top-selling structured product category with sales of $1,729 billion, up 43 per cent year-on-year. Meanwhile, money market funds and sovereign bonds remained attractive to investors due to their perceived lower risks and decent returns under the prevailing high interest rate environment in 2024. The survey showed an increase in the sales of money market funds, which accounted for 80 per cent of the total transaction amount of the top five CIS reported by the large firms, up from 76 per cent in 2023. Sovereign bonds also gained popularity, making up 49 per cent of total debt securities sold last year, compared with 44 per cent in the year before.

“The remarkable surge in product sales underscores the dedication of firms and the trust investors place in our financial markets,” said the Executive Director of Intermediaries of the SFC, Dr Eric Yip. “The SFC is steadfast in fostering a robust regulatory framework that enables businesses to grow while protecting investor interests.”

     “The strong growth in investment transactions reflects heightened investor confidence and interest in the vibrancy of Hong Kong’s investment market, and supports the continuous growth and development of the ecosystem,” said the Executive Director (Banking Conduct) of the HKMA, Mr Alan Au. “The survey result enables regulators to better co-ordinate and implement our supervisory activities in light of market developments, thus according protection to investors.”

Other major observations from the survey included:
 

• Structured products remained the top product type sold by the respondent firms, accounting for 42 per cent ($2,567 billion) of the total transaction amount in 2024. CIS and debt securities rounded out the top three spots, making up 37 per cent ($2,244 billion) and 15 per cent ($941 billion) respectively.
• Equity-linked products made up 67 per cent of all structured products sold in 2024, up from 61 per cent in 2023. The major underlying equities of the top five products reported by the large firms were from the technology (42 per cent), automotive (23 per cent) and internet (22 per cent) sectors.
• Online sales accounted for 17 per cent (2023: 12 per cent) of the aggregate transaction amount reported by all respondent firms. The number of respondent firms that distributed investment products online continued to grow in 2024, increasing 13 per cent to 104. CIS remained the top product type sold through online platforms, making up 77 per cent of the total online sales, followed by debt securities at 21 per cent.

Note 1: The annual survey questionnaires were sent to 2 368 LCs and 109 RIs licensed or registered for Type 1 (dealing in securities), Type 4 (advising on securities) or both regulated activities, and more than 99 per cent of them responded. The survey covered the sale of non-exchange-traded investment products from January 1 to December 31, 2024 (the reporting period) by respondent firms to non-professional investor clients, individual professional investors (PIs) and certain corporate PIs. The first SFC-HKMA joint survey was published in 2021.

Note 2: Transaction amount refers to the amount paid or payable by investors for investment products. For structured products and derivative products, the transaction amount refers to the maximum exposure of the contracts at the point of sale. Respondent firms were requested to report only one side of the transaction. Rollovers, redemptions and position close-outs were not included.

Note 3: Large firms refer to LCs and RIs with total transactions of $1 billion or more and $30 billion or more respectively during the reporting period. They were requested to provide details about the investment products sold, including the transaction amount by investor type and the details of the top five products ranked by transaction amount.

Note 4: The numbers of clients of LCs and RIs who completed at least one transaction in non-exchange-traded investment products during the reporting period were 493 829 and 714 926 respectively.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region – 4

The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department today (September 3) urged the public not to consume a batch of prepackaged raw milk cheese imported from France due to possible contamination with Shiga toxin-producing Escherichia coli (STEC). The trade should stop using or selling the affected product immediately if they possess it.

Product details are as follows:

Product name: Mini Camembert Raw Milk Cheese
Brand: Gillot
Place of origin: France
Pack size: 150 grams
Use-by date: September 4, 2025
Batch number: 183511
Importer: City Super Limited

“The CFS received a notification from the Rapid Alert System for Food and Feed (RASFF) of the European Commission that the above-mentioned product is under recall due to possible contamination with STEC. According to the information provided by the RASFF, the affected batch of the product has been imported into Hong Kong,” a spokesman for the CFS said. 

Upon learning of the incident, the CFS immediately contacted local importers to follow up. A preliminary investigation found that the above-mentioned importer had imported into Hong Kong the affected batch of the product concerned. The importer has stopped sales, removed from shelves the affected batch of the product concerned and has initiated a recall according to the CFS’s instructions. Members of the public may call its hotline at 2736 3866 during office hours with any enquiries about the recall.

“People will contract STEC-causing gastro-intestinal disease through consumption of contaminated water or undercooked and contaminated foods. Intestinal bleeding and serious complications such as hemolytic uraemic syndrome may also develop in some people,” the spokesman said.

​The CFS has alerted the trade to the incident, and will continue to follow up and take appropriate action. The investigation is ongoing.

Source: Hong Kong Government special administrative region – 4

Today (September 3) is the Victory Day of the Chinese People’s War of Resistance Against Japanese Aggression. The Hong Kong Museum of the War of Resistance and Coastal Defence (MWRCD) organised activities, including a sharing session on the War of Resistance and film screenings, to commemorate the 80th Anniversary of the Victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, aiming to deepen the knowledge of the public and students about the War of Resistance.
 
The museum invited the Deputy President of the Society of Veterans of the Original Hong Kong Independent Battalion of the Dongjiang Column, Mr Lam Ming, to host a sharing session with local secondary students. He shared the wartime stories of his father’s generation. Mr Lam’s father joined the Hong Kong Independent Battalion of the Dongjiang Column at the age of 16, and together with Mr Lam’s grand uncle, a maritime communication line was established from the Shek Shui Kan Radio Station at Wu Kau Tang to the Battalion Headquarters in Chek Keng, Sai Kung. Mr Lam hopes that the public will commemorate the sacrifices and contributions of the martyrs of the War of Resistance. Secondary students who participated in the sharing session said that they will remember the history of the War of Resistance and cherish the hard-earned peace.
 
There was also a collaborative art creation activity, inviting members of the public to write greeting cards to express their feelings about the War of Resistance as well as respect for the martyrs and veterans.

In collaboration with the Hong Kong Film Archive, the MWRCD also arranged two screenings of the anti-war movie “Life Goes On” (2024) today, which received overwhelming feedback. The film recounts the story of a group of university teachers and students in southern China who endured great hardships during the war, relocating to northern Guangdong and persevering in their educational pursuits despite adverse circumstances.
 
The “Standing Together for Peacebuilding: Commemorating the 80th Anniversary of Victory in the War of Resistance in Guangdong and Hong Kong” exhibition, jointly organised by the MWRCD and the Guangdong Museum of Revolutionary History, is currently on display. Featuring some 40 items/sets of wartime relics and around 150 historical photos, the exhibition shows the history of the people of Guangdong and Hong Kong, led by the Chinese Communist Party, and how they were closely united in resisting the enemy. The exhibition will run until July 8 next year, with free admission. The museum also launches a series of free programmes, including lectures, workshops, film screenings, field visits, and travelling exhibitions. For details of the exhibition, please visit the website at hk.waranddefence.museum/en/web/mcd/standingtogetherforpeacebuilding.html.

Source: Hong Kong Government special administrative region

Source: Hong Kong Information Services

Chief Executive John Lee today attended commemorative events marking the 80th Anniversary of Victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War.

Mr Lee led a delegation to join the commemorative rally and massive military parade in the morning.

Helicopters flew over Tian’anmen Square formed the number 80 and carried banners that read “Justice Prevails,” “Peace Prevails,” and “The People Prevail.” 

The grand parade included 45 formations and echelons passing through Tiananmen Square or fly crossing the sky. A range of new armaments were also shown.

Eighty thousands pigeons and 80,000 balloons were released to the sky to close the ceremony.

Mr Lee also attended a reception at noon.

The members of the delegation include the Hong Kong Special Administrative Region Government’s Principal Officials and representatives from the Judiciary, the Legislative Council and the District Councils, as well as patriots who participated in the War of Resistance, veterans and their descendants.

Source: Hong Kong Government special administrative region – 4

Today (September 3) marks the Victory Day of the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War. On this 80th anniversary of victory in the War of Resistance, the Public Records Office (PRO) of the Government Records Service (GRS) has specially curated its annual thematic exhibition, this one entitled “Unyielding Land, Eternal Heroes: 80th Anniversary of Victory in the War of Resistance”, featuring precious archives and documented heritage for members of the public to revisit Hong Kong’s painful period during the Japanese occupation (1941-1945) and understand the heroic resistance of the Hong Kong Independent Battalion of the Dongjiang Column against the enemy.

On December 25, 1941, Hong Kong entered three years and eight months of Japanese occupation, during which residents suffered from the invasion, severe food shortages and various hardships. During the early stages of the Japanese occupation, the Hong Kong Independent Battalion of the Dongjiang Column broke through enemy defence lines, successfully rescuing groups of prominent figures in various sectors. Throughout the Japanese occupation, they braved life-and-death danger to engage in combat with the Japanese army, penetrating deep into enemy territories and waters to restrain and attack enemy forces.

This exhibition showcases over 120 selected items, including photographs documenting the daily marches of the Hong Kong Independent Battalion of the Dongjiang Column and paintings depicting their heroic victories against the enemy, a name list of the Hong Kong Independent Battalion of the Dongjiang Column who died in the defence of Hong Kong, the “Register of Enemy Properties” documenting property confiscated by the Japanese Military Government, etc. Additionally, the items reveal stories including the then Hong Kong Government pursuing after the war the recovery of books from the libraries of the University of Hong Kong looted by the Japanese forces, the demolition of the Japanese War Memorial, etc. The precious documented heritage bears witness to the harsh lives of Hong Kong residents during the Japanese occupation and the fearless spirit of the anti-Japanese heroes.

The thematic exhibition is open from today onwards from Monday to Friday, 9am to 5.45pm (except public holidays), at the Exhibition Hall on the second floor of the Hong Kong Public Records Building at 13 Tsui Ping Road, Kwun Tong, Kowloon. Admission is free. In addition to distinctive photo spots, visitors can also experience the weight of the daily rice ration of “6.4 taels” during the Japanese occupation, understanding the hardships of people’s lives at that time.

To provide members of the public with a better understanding of this history, the PRO has developed a thematic online exhibition (www.grs.gov.hk/ws/online/80VWR/en/home/index.html). Its Facebook page (www.facebook.com/grs.publicrecordsoffice) will regularly share selected exhibition content and historical stories.

The PRO will also organise roving exhibitions of this thematic exhibition in various districts of Hong Kong. Details will be announced on the GRS website (www.grs.gov.hk) and the PRO Facebook page later. For enquiries, please contact the PRO at 2195 7700 or email to proinfo@grs.gov.hk.

Source: Hong Kong Government special administrative region – 4

     The Chief Secretary for Administration, Mr Chan Kwok-ki, today (September 3) chaired the 26th meeting of the Commission on Children.
 
     At the meeting, members were briefed by the Hong Kong Police Force on the current initiatives to protect children and prevent them from victimisation, which include various promotional campaigns and the provision of both online and offline resources, thereby creating a safe and healthy environment for children’s growth and development by focusing on the enhancement of education and awareness among children, parents and educators. With the advancement of technology, the Internet has become an integrated part of children’s daily lives. The Police are also stepping up efforts to enhance children’s fraud prevention awareness in the digital era and fostering community collaboration to ensure that children can explore safely in the digital landscape.
 
     The Culture, Sports and Tourism Bureau (CSTB) also briefed members on their efforts in promoting the arts and cultural development for children. The Government announced the Blueprint for Arts and Culture and Creative Industries Development in November last year, setting out a clear vision, principles, and strategic direction for the future development of the arts, culture and creative industries. Many of these measures specifically aim at children. The CSTB, Leisure and Cultural Services Department and relevant public organisations have been organising arts festivals and different programmes, promoting arts education and training, and enhancing infrastructure and facilities to foster children’s whole-person development and enhance their cultural confidence, creativity and emotional intelligence.
 
     Members welcomed the various measures implemented by the Government in protecting children and promoting the arts and cultural development for them, and provided suggestions on how to further advance the relevant work.