Month: November 2025

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Import of poultry meat and products from areas in Poland, Germany, Netherlands, Ireland and Canada suspended

Source: Hong Kong Government special administrative region

Import of poultry meat and products from areas in Poland, Germany, Netherlands, Ireland and Canada suspended
Poland
—-
Mazowieckie Region
(1) Białobrzegi District(2) Sulęcin District—-
State of Nordrhein-Westfalen
(3) District of Rhein-Erft-Kreis—-
Flevoland Province
(4) Dronten Municipality—-
(5) County Monaghan—-
Alberta Province
(6) Leduc CountyIssued at HKT 17:45

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MOFA solemnly condemns and refutes statements by China’s Taiwan Affairs Office aimed at undermining Taiwan’s participation in APEC

Source: Republic of China Taiwan

November 12, 2025 
No. 464 

At a regular press conference on November 12, a spokesperson of China’s Taiwan Affairs Office stated that Taiwan could only participate in next year’s APEC activities as a regional economy under the so-called “one China principle.” China will serve as the host economy for APEC in 2026.
 
The Ministry of Foreign Affairs (MOFA) emphasizes that this statement is a serious departure from the facts concerning Taiwan’s APEC involvement, not only exposing China’s malicious intention to suppress and undermine Taiwan’s equal participation in APEC but also disrupting harmony within the organization.
 
Taiwan formally became a full member economy of APEC in 1991 under the name Chinese Taipei through the signing of a memorandum of understanding (MOU) of accession with that year’s host economy, the Republic of Korea. The text of the MOU, which did not refer to any “one China principle,” made clear that Taiwan would participate in APEC meetings and activities with other member economies on an equal basis.
 
It is also understood that in the MOU signed in relation to China’s accession to the organization, APEC only took note of China’s so-called “one China principle” and its position that there is a distinction between sovereign states and regional economies. APEC did not express agreement with or acceptance of such a stance.
 
Furthermore, all APEC member economies, including China, unanimously supported the inclusion of the following text in joint ministerial statements issued following APEC Ministerial Meetings this year and in 2024: “We attach great importance to APEC’s continued cooperation in the spirit of multilateralism, on the basis of consensus with all members participating on an equal footing in all its events, including Leaders’ Week, in accordance with the Guidelines for Hosting APEC Meetings and Relevant APEC Conventions.”
 
During last year’s APEC Economic Leaders’ Week, China’s APEC senior official sent a letter to all APEC member economies extending explicit assurances that “participants meeting APEC delegates requirements and conducting APEC cooperation and responsibilities will be facilitated smooth and safe participation in APEC meetings, including entry and exit facilitation.”
 
MOFA reiterates that the Republic of China (Taiwan) is a sovereign and independent state, that neither the ROC (Taiwan) nor the People’s Republic of China is subordinate to the other, and that the PRC has never ruled Taiwan. These are internationally accepted, objective facts and the status quo. China has no right to comment on or interfere in the sovereign actions of other nations. Its use of the so-called “one China principle” to undermine Taiwan’s participation and status is a grave violation of the core principle of APEC member economies participating on an equal basis.
 
MOFA firmly demands that China carry out its duties as APEC host economy satisfactorily; fulfill its commitments properly in accordance with APEC guidelines, standards, and practices; and guarantee Taiwanese participants equal, dignified, and safe involvement in next year’s APEC meetings and activities. Taiwan will not accept any political maneuvers aimed at undermining or excluding its participation and will work with like-minded partners to oppose such moves. (E)

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Tender results of the re-opening of 10-year RMB HKSAR Institutional Government Bonds

Source: Hong Kong Government special administrative region

Tender results of the re-opening of 10-year RMB HKSAR Institutional Government Bonds 
A total of RMB1.0 billion 10-year Government Bonds were offered today. A total of RMB1.825 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 1.83. The average price accepted is 101.28, implying an annualised yield of 2.151 per cent. 
Tender results of 10-year RMB HKSAR Institutional Government Bonds:
 

Tender Date* Calculated as the amount of bonds applied for over the amount of bonds issued.

Note: The yields stated above are annualised yields. For reference, the semi-annualised yields corresponding to the average price accepted, lowest price accepted, and average tender price are 2.140 per cent, 2.181 per cent, and 2.201 per cent respectively.
Issued at HKT 17:00

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Exchange Fund Position at end-September 2025

Source: Hong Kong Government special administrative region

Exchange Fund Position at end-September 2025 
The Exchange Fund recorded an investment income of HK$274.0 billion in the first three quarters of 2025. The main
components were:
 non-Hong Kong dollar assets (Note 1); andFees on placements by the Fiscal Reserves and placements by Hong Kong Special Administrative Region Government funds and statutory bodies were HK$12.3 billion (Note 3) and HK$11.8 billion respectively in the first three quarters of 2025, with the rate of fee payment at 4.4 per cent for 2025.
 
Total assets of the Exchange Fund stood at HK$4,152.2 billion at end-September 2025, representing an increase of HK$71.2 billion from the end of 2024. Accumulated surplus reached HK$916.3 billion at end-September 2025.
 
The Chief Executive of the HKMA, Mr Eddie Yue, said, “Stepping into the third quarter, various factors such as central bank monetary policies, the geopolitical environment and the fervor around the artificial intelligence industry were generally positive to the investment environment. Major asset classes delivered positive returns, with some leading stock market indices setting new highs during the quarter. Benefitting from capital inflows, the Hong Kong stock market also rose by 12 per cent in the third quarter. As for the bond market, while the US Federal Reserve (Fed) cut its monetary policy target rate in September, US bond yields remained at relatively high levels, generating good interest income for the Exchange Fund’s bond portfolio. That said, the US dollar traded stronger against other major currencies during the third quarter, resulted in a negative currency translation
effect on the Exchange Fund’s assets. Overall, the Exchange Fund recorded decent investment income in the first nine months of 2025, with positive returns across major asset classes.”
 
He added, “The investment landscape remains highly uncertain for the rest of 2025. While expectations of further rate cuts by the US Fed may improve investment sentiment, the market’s concerns about the US’s economic outlook may remain. Further, the impact of the rapid changes in the US Government economic and trade policies, trade frictions and geopolitical tensions on the financial markets remains unpredictable.
 
In the face of the complex and volatile investment environment, the HKMA will continue to adhere to the principle of capital preservation first while maintaining long-term growth. We will continue to manage the Exchange Fund with prudence and
flexibility, implement appropriate defensive measures, and maintain a high degree of liquidity. We will also continue our
investment diversification to strive for higher long-term returns, and ensure that the Exchange Fund remains effective in achieving its purpose of maintaining monetary and financial stability of Hong Kong.”
 
Note 1: This is primarily the effect of translating foreign currency assets into Hong Kong dollar after deducting the portion for currency hedging.
Note 2: This is the valuation change of investments held by investment holding subsidiaries of the Exchange Fund. This figure reflects the valuations at the end of June 2025. Valuation changes of these investments from July to September are not yet available.
Note 3: This does not include the 2025 fee payment to the Future Fund because such amount will only be disclosed when the composite rate for 2025 is available.
Issued at HKT 16:30

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Volume and price statistics of external merchandise trade in September 2025

Source: Hong Kong Government special administrative region

Volume and price statistics of external merchandise trade in September 2025 
     In September 2025, the volume of Hong Kong’s total exports of goods and imports of goods increased by 13.8% and 11.4% respectively over September 2024.
 
     Comparing the first nine months of 2025 with the same period in 2024, the volume of Hong Kong’s total exports of goods and imports of goods increased by 11.3% and 10.8% respectively.
 
     Comparing the third quarter of 2025 with the preceding quarter on a seasonally adjusted basis, the volume of total exports of goods decreased by 0.8%, while the volume of imports of goods remained virtually unchanged.
 
     Changes in volume of external merchandise trade are derived from changes in external merchandise trade value with the effect of price changes discounted.
 
     Comparing September 2025 with September 2024, the prices of total exports of goods and imports of goods increased by 2.4% and 2.0% respectively.
 
     As regards price changes in the first nine months of 2025 over the same period in 2024, the prices of total exports of goods and imports of goods both increased by 1.9%.
 
     Price changes in external merchandise trade are reflected by changes in unit value indices of external merchandise trade, which are compiled based on average unit values or, for certain commodities, specific price data.
 
     The terms of trade index is derived from the ratio of price index of total exports of goods to that of imports of goods.  Compared with the same periods in 2024, the index increased by 0.4% in September 2025, whereas it remained virtually unchanged in the first nine months of 2025.
 
     Changes in the unit value and volume of total exports of goods by main destination are shown in Table 1.
 
     Comparing September 2025 with September 2024, increases were recorded for the total export volume to all main destinations: Vietnam (46.1%), Taiwan (25.6%), India (15.4%), Chinese Mainland (the Mainland) (14.8%) and the USA (4.3%).
 
     Over the same period of comparison, the total export prices to all main destinations increased: Taiwan (5.1%), Vietnam (2.7%), the Mainland (2.3%), India (2.0%) and the USA (0.5%).
 
     Changes in the unit value and volume of imports of goods by main supplier are shown in Table 2.
 
     Comparing September 2025 with September 2024, increases were recorded for the import volume from Vietnam (62.3%), Singapore (27.2%), the Mainland (19.1%) and Japan (9.0%). On the other hand, the import volume from Taiwan decreased by 22.0%.
 
     Over the same period of comparison, the import prices from all main suppliers increased: Singapore (4.9%), Taiwan (4.5%), Japan (3.0%), the Mainland (0.7%) and Vietnam (0.4%).
 
Further information
 
     Details of the above statistics are published in the September 2025 issue of “Hong Kong Merchandise Trade Index Numbers”. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020006&scode=230 
     Enquiries on merchandise trade indices may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4918).
Issued at HKT 16:30

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Hiking trail challenge launched

Source: Hong Kong Information Services

The Agriculture, Fisheries & Conservation Department today launched the “Unlocking Hong Kong Trail” hiking challenge to commemorate the trail’s 40th anniversary.

Eight checkpoints have been set up along the trail for hikers to collect e-badges while learning about the unique features of each section as they hike.

The Hong Kong Trail, divided into eight sections and spanning 50 km, is the most hiker-friendly of the city’s four long-distance hiking trails.

Starting at Victoria Peak and ending at Big Wave Bay, it traverses five country parks. Section 1 at Victoria Peak offers spectacular views of Victoria Harbour and is part of the “Four Peaks” tourism project under the Working Group on Developing Tourist Hotspots.

From today until February 28, 2026, people can register for the challenge on the event website. To collect e-badges, they should visit the eight checkpoints, scan QR codes with their smartphones, then answer questions about the trail to “unlock” each checkpoint.

Those who successfully unlock all eight checkpoints during the event period will receive commemorative prizes while stocks last.

The department advised participants to hike with friends or family members.

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HKMA announces new phase of Project Ensemble to support real-value transactions in tokenised deposits and digital assets

Source: Hong Kong Government special administrative region

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

The Hong Kong Monetary Authority (HKMA) today (November 13) announced the launch of EnsembleTX, marking the commencement of the pilot phase of Project Ensemble. This milestone represents a significant advancement in enabling real-value transactions involving tokenised deposits and digital assets within a controlled pilot environment.

EnsembleTX builds upon the successful outcomes of the Ensemble Sandbox experimentation, which since August 2024 has allowed industry pioneers to test comprehensive end-to-end use cases for settling digital asset transactions using experimental tokenised deposits. In the new pilot phase, the HKMA, participating banks (Annex A) and other industry pioneers (Annex B) aim to enable faster, more transparent and efficient settlement of real-value tokenised transactions. The initial focus will be on empowering market participants to utilise tokenised deposits in tokenised money market fund transactions, and to manage liquidity and treasury needs in real time.

To establish a strong foundation for further innovation, EnsembleTX will operate throughout 2026. Interbank settlement of tokenised deposit transactions will initially be facilitated via the HKD Real Time Gross Settlement (RTGS) system. The pilot environment will be progressively upgraded and enhanced to support settlement in tokenised Central Bank Money (CeBM) on an around the clock basis. This evolution will further enable the continuous development of Hong Kong’s broader tokenisation ecosystem.

The HKMA and the Securities and Futures Commission (SFC), a key partner and member of the Ensemble Architecture Community, will continue to collaborate closely to advance the practical applications of tokenisation technology across a diverse set of asset classes, use cases, and sectors within the financial industry.

The Chief Executive of the HKMA, Mr Eddie Yue, said, “EnsembleTX marks a pivotal moment in our journey, upgrading from proof-of-concept to a real-value setting. It is where innovation meets implementation, and the concepts and details tested in the Ensemble Sandbox are now applied in real-value transactions, delivering tangible benefits to market participants. This milestone underscores Hong Kong’s pioneering role in shaping the future of digital finance, both regionally and globally. The HKMA invites stakeholders with innovative real-value use cases that leverage tokenised deposits to take part in this collaborative effort to further develop Hong Kong’s tokenisation ecosystem.”

The Chief Executive Officer of the SFC, Ms Julia Leung, said, “To scale tokenisation of investment products, interoperability is key. A critical step in that direction is today’s initiative announced by the HKMA which will gradually allow interbank settlement of tokenised deposits in real time around the clock. The SFC is committed to walking with the HKMA and the market participants in driving forward advanced tokenisation use cases leveraging EnsembleTX and building a dynamic and future-ready financial ecosystem.”

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MOEA’s “Mobileheroes” – Driving B5G, AI, and ESG Innovation for Industry Transformation

Source: Republic of China Taiwan

The 24th annual Mobileheroes, organized by the Industrial Development Administration (IDA) of the Ministry of Economic Affairs (MOEA), held its award ceremony on October 22 at Fubon International Conference Center. This year’s event centered on cutting-edge technologies including 5G, AI, and high-efficiency antenna design, encouraging innovators and students from the four corners of the world to create smart applications that applied to relevant industries, ESG, manufacturing, and healthcare. More than 200 contestants across 70 teams from 13 countries including Taiwan, France, Poland, and Argentina competed for over NT$3 million in prizes and the championship title. This year also welcomed international startup accelerators, including Baltic Sandbox (Baltics) and Technology Park Split (Croatia), who have visited Taiwan to contact startups and explore scalable innovation business models.

This year’s competition featured two main categories: Mobileheroes Global and Antenna Systems. After rigorous preliminary and semifinal rounds, 11 outstanding teams advanced to the final stage. Their projects showcased a diverse range of forward-thinking ideas, including AI-powered forest carbon estimation that combines satellite imagery, drone footage, and ground data to measure tree height and forest carbon storage; AI-based traffic safety systems that use base station signals to track pedestrians and vehicles, predict collision risks, and send real-time alerts to smartphones or vehicle head-up display (HUD); and smart industrial maintenance systems that collect vibration and temperature data from equipment such as pumps and compressors in factories and airports, using AI to detect early signs of wear or imbalance for predictive maintenance.

Distinguished guests included Mr. Wei-Hua Tseng, Senior Technical Specialist of the IDA, Mr. Carlos Alberto Hernandez, Director of the Argentine Trade Office in Taipei, and Mr. Lukasz Weremiuk, Deputy Director of the Polish Office in Taipei.

The IDA representative emphasized that the Mobileheroes serves as a key platform empowering young innovators to pursue their dreams, transform creativity into pragmatic solutions, and add smart value to Taiwan’s industrial ecosystem. Over the past 23 years, the competition has nurtured more than 10,000 ICT talents and helped establish nearly 50 tech startups, fostering 27 successful collaborations between startups and major corporations or research institutes. With Taiwan’s robust communications and networking industry, the IDA hopes the competition will continue to connect global markets and inspire deeper international cooperation through technological innovation.

After intense final judging, the top honors in the Mobileheroes Global were Gold Medal Award – Waterly (Poland), Merit Award – FiduciaEdge Technologies (Taiwan), Judges’ Award – Angel Eye (Taiwan). In the Antenna System Design Competition, the “Today We Worked Extra Hard” team won the top prize, while “HolySlot” and “Spicy Tofu” won the Cooperation Excellence Award for their strong collaboration with industry partners in early-stage antenna development.

This year’s corporate sponsors and partners included Chunghwa Telecom, Far EasTone, Taiwan Mobile, Hwacom, Taoyuan International Airport Corp., MediaTek, WNC, Compal, Wistron, Inventec, Quanta, Auden, Awan, Cybernet Systems Taiwan, Simutech, UfiSpace, MakerPro, and Techbang. These partners provided mentorship, awards, technical guidance, and market access, helping outstanding teams turn their innovations into real-world impact and commercial values.

Representatives from the Ministry of Economic Affairs, international innovation organizations, foreign representative offices in Taiwan, and ITRI jointly celebrated and witnessed the growing global visibility of Mobileheroes.

Spokesperson: Ms. Pei-Li Chen, Deputy Director General, Industrial Development Administration
Tel: 886-2-2754-1255 ext. 2903 / 886-925-775-150
Email: plchen@ida.gov.tw

Contact Organization:Electronics and Information Technology Industry Division,Industrial Development Administration,(MOEA)
Contact Person:Mr.Tseng
Contact Phone:886-2-2754-1255#2219

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“Unlocking Hong Kong Trail” hiking challenge commences today (with photos)

Source: Hong Kong Government special administrative region

“Unlocking Hong Kong Trail” hiking challenge commences today  
     A spokesman for the AFCD said, “The Hong Kong Trail, divided into eight sections and spanning 50 kilometres, is the most hiker-friendly among the four long-distance hiking trails in Hong Kong. Starting at Victoria Peak and ending at Big Wave Bay, it traverses five country parks. Located at Victoria Peak, Section 1 offers spectacular views of Victoria Harbour and is part of the “Four Peaks” tourism project under the Working Group on Developing Tourist Hotspots. The AFCD set up eight checkpoints along the Hong Kong Trail for hikers to collect e-badges while learning about the unique features of each section and enjoying their hike.”
 
     From today until February 28, 2026, the public and visitors can register on the “Unlocking Hong Kong Trail” event website at www.unlockinghktrail.hk 
     There are maps and detailed information about the Hong Kong Trail on the event website. The AFCD reminds participants to take into account their fitness and hiking experience when planning a hike and to pay attention to the weather conditions. It is advisable to hike with friends and family members. The public is also reminded to take their litter away and help conserve the countryside by practising hiking etiquette.
Issued at HKT 12:00

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