Month: November 2025

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Speech by SITI at Cyberport Venture Capital Forum 2025 (English only)

Source: Hong Kong Government special administrative region – 4

Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Cyberport Venture Capital Forum 2025 today (November 6):

Simon (Chairman of the Board of Directors of the Hong Kong Cyberport Management Company Limited, Mr Simon Chan), Hendrick (Chairman of the Cyberport Investors Network Steering Group, Mr Hendrick Sin), distinguished guests, ladies and gentlemen,

I am glad to join you all today at the Cyberport Venture Capital Forum (CVCF) again this year.   

     Before I start, I am delighted to share some exciting news that underscores Hong Kong’s growing stature in the global digital landscape. Just two days ago, the International Institute for Management Development released its latest World Digital Competitiveness Ranking 2025, in which Hong Kong achieved an impressive fourth place globally. This marks a continued upward trajectory – we climbed three positions last year, and we rose again by three more places this year. Such progress reflects not only our resilience and adaptability in this ever-evolving digital world but also our determination and capability to develop Hong Kong into an international innovation and technology (I&T) centre.

     Hong Kong has long been an ideal landing place for I&T enterprises and investors from the Mainland and overseas. Recognising the potential of AI as a key driver for our future growth, we continue to strengthen the AI readiness of our community, from upgrading our digital infrastructure, to establishing our own AI (artificial intelligence) research institute, to grooming talent on the AI front. These initiatives will fuel the growth of AI as a key industry in Hong Kong and reinforce Hong Kong’s role as an international I&T centre.

      Cyberport has made significant contributions to the local I&T ecosystem. Over the years, Cyberport has developed and sustained a vibrant community that empowers digital pioneers and start-ups to thrive. Its success in attracting around 470 enterprises to land here last year resonates strongly with Hong Kong’s vision. 

      Today’s forum perfectly aligns with Cyberport’s mission to connect visionary entrepreneurs with strategic investors. Beyond merely providing a starting point for start-ups, the $400 million Cyberport Macro Fund leverages private capital at a scale of one to nine, connecting Cyberport digital entrepreneurs with market capital and enabling projects with potential to expand by turning breakthroughs in R&D (research and development) into commercial successes.   

      The forum also showcases the dynamic lineup of high-potential start-ups within the Cyberport community and demonstrates how Hong Kong stands at the forefront of creativity and technology. This is a launch pad for ventures that aspire not just to succeed locally but to make waves internationally.

​Under the theme “The Innovation-Venture Nexus: Igniting Transformative Success”, I trust that today’s forum will enlighten participants on how bold ideas and breakthrough technologies are driving a new wave of transformative growth. May this gathering not only inspire deal flows and collaboration but also reinforce our city’s position as a leading I&T hub.

Before I conclude, I would like to take this opportunity to remind everyone that the Legislative Council General Election will take place on December 7, 2025. It is vital for all eligible voters to exercise their right and cast their votes. Your vote is important for us to build a prosperous and innovative Hong Kong for the years to come.

     Let’s continue to embrace growth together, where bold ideas meet smart capital, and where our future is launched. Thank you, and I wish CVCF 2025 every success.

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Hong Kong Customs raids suspected illicit cigarette storage centre (with photo)

Source: Hong Kong Government special administrative region – 4

Hong Kong Customs yesterday (November 5) raided a suspected illicit cigarette storage centre in Tsuen Wan, seizing about 750 000 suspected illicit cigarettes with an estimated market value of about $3.38 million and a duty potential of about $2.48 million. One person was arrested.

     Customs officers conducted an anti-illicit cigarette operation in Tsuen Wan yesterday and intercepted a suspicious 30-year-old man in a private residential estate. The man was then escorted to his residence there for a search, where the batch of suspected illicit cigarettes was seized. The man was subsequently arrested. After preliminary investigations, Customs believes that the suspected illicit cigarette storage centre was primarily used to supply illicit cigarettes to areas in Tsuen Wan.

     The arrested person was charged with “dealing with goods to which the Dutiable Commodities Ordinance applies” and will appear at the West Kowloon Magistrates’ Courts tomorrow (November 7). 

     Customs reminds members of the public that under the Dutiable Commodities Ordinance, anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.

     Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

  

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Tender of one-year HONIA-indexed Floating Rate Notes to be held on November 12

Source: Hong Kong Government special administrative region – 4

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

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (November 6) that a tender of 1-year HONIA-indexed Floating Rate Notes (Notes) under the Infrastructure Bond Programme will be held on Wednesday, November 12, 2025, for settlement on Thursday, November 13,  2025.
 
A total of HK$1.5 billion 1-year HKD Notes will be tendered. The Notes will mature on November 13, 2026 and will carry interest indexed to the Hong Kong Dollar Overnight Index Average (HONIA), payable quarterly in arrear.
 
Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Notes on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof. 
 
Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK ) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.

HKSAR Institutional Government Bonds Tender Information

Tender information of 1-year HONIA-indexed Floating Rate Notes:
 

Issue Number : 01GH2611001
Stock Code : 4296 (HKGB FRN 2611)
Tender Date and Time : Wednesday, November 12, 2025
9.30am to 10.30am
Issue and Settlement Date : Thursday, November 13, 2025
Amount on Offer : HK$1.5 billion
Issue Price : At par
Maturity : 1 year
Maturity Date : Friday, November 13, 2026
Interest Rate : Indexed to the sum of the annualised compounded average of daily HONIA in each interest period and the highest accepted spread at tender, subject to a minimum of 0 per cent per interest period. Details on calculation of interest rate are available at the Institutional Issuances Information Memorandum of the Infrastructure Bond Programme and Government Sustainable Bond Programme (Information Memorandum) published on the Hong Kong Government Bonds website.
Interest Period End Dates : February 13, 2026
May 13, 2026
August 13, 2026
November 13, 2026
Interest Payment Dates : February 20, 2026
May 15, 2026
August 17, 2026
November 17, 2026
Method of Tender : Competitive tender
Tender Amount : Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof. Any tender applications for the Notes must be submitted through a Primary Dealer on the latest published list.
Other Details : Please see the Information Memorandum available on the Hong Kong Government Bonds website or approach Primary Dealers.
Expected commencement date of dealing on
the Stock Exchange
of Hong Kong Limited		 : Friday, November 14, 2025
Use of Proceeds : The Notes will be issued under the institutional part of the Infrastructure Bond Programme. Proceeds will be invested in infrastructure projects in accordance with the Infrastructure Bond Framework published on the Hong Kong Government Bonds website.
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CE promotes HK strengths in SH

Source: Hong Kong Information Services

Chief Executive John Lee delivered a speech at the Hong Kong – The Ideal Platform for Mainland Enterprises in Going Global Promotion Conference in Shanghai today.

The event highlighted Hong Kong’s unique strengths and role in assisting Mainland enterprises in expanding internationally, with a view to encouraging them to use Hong Kong as a platform for going global to tap into overseas markets.

This year’s Policy Address announced the establishment of the Task Force on Supporting Mainland Enterprises in Going Global to proactively engage Mainland enterprises to go global via Hong Kong.

The conference, the task force’s first large-scale promotional event on the Mainland, attracted 500 participants.

Speaking at the opening ceremony, Mr Lee noted that the country is implementing a high-level strategy of two-way opening up to encourage Mainland enterprises to go global, and the momentum of Mainland enterprises’ international expansion is accelerating.

The Chief Executive said under the “one country, two systems” principle, Hong Kong enjoys the advantage of connecting the Mainland and the world, serving as an international financial, shipping and trade centre, in addition to attracting global capital and top talent and boasting a highly internationalised business environment, world-class professional services, a common law system aligned with global financial centres, a simple and transparent tax regime, and an extensive logistics network, adding that these core strengths make Hong Kong the best platform for Mainland enterprises to go global.

​Noting that the country is expanding the scope of its high-level opening up, Mr Lee said both Shanghai and Hong Kong play crucial roles in supporting regional co-ordinated development and complement each other.

Hong Kong will continue to leverage its distinctive advantages of enjoying strong support of the motherland and being closely connected to the world, actively dovetail with national strategies, and work with the Mainland to create a new chapter of mutually beneficial co-operation, Mr Lee added.

Secretary for Commerce & Economic Development Algernon Yau, who chairs the GoGlobal Task Force, told the conference that the task force will establish an efficient, effective and unprecedented one-stop support platform for Mainland enterprises going global, strengthening assistance for them to systematically expand international operations via Hong Kong amid the ever-changing geopolitical landscape.

​Mr Yau also said the task force will continue to organise promotional activities across various provinces on the Mainland.

Also addressing the promotion conference were Executive Deputy Director of the Hong Kong & Macao Work Office of the Communist Party of China (CPC) Central Committee and the Hong Kong & Macao Affairs Office of the State Council Xu Qifang.

Other speakers included Member of the Standing Committee of the CPC Shanghai Municipal Committee and Executive Vice Mayor of the Shanghai Municipal People’s Government Wu Wei; Deputy Director General of the Department of Outward Investment & Economic Cooperation of the Ministry of Commerce Wang Qi; and Hong Kong Trade Development Council (HKTDC) Chairman Prof Frederick Ma.

​A number of Hong Kong business leaders highlighted Hong Kong’s strengths in innovation and technology, financial services and professional services at the promotion conference, and Mainland enterprise representatives shared their successful experiences of using Hong Kong as a gateway to go global.

The event was also attended by Director of the Chief Executive’s Office Carol Yip and Permanent Secretary for Commerce & Economic Development Maggie Wong.

Director-General of Investment Promotion Alpha Lau and Commissioner for Industry (Innovation & Technology) Ge Ming hosted two thematic networking sessions on serving Mainland enterprises seeking to go global, and innovation and technology.

The promotion conference was jointly organised by the Hong Kong Special Administrative Region Government and the HKTDC.

Mr Lee and the delegation returned to Hong Kong in the afternoon.

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Housing scheme enhanced

Source: Hong Kong Information Services

The Housing Authority’s Subsidised Housing Committee today approved a series of measures to encourage upward mobility via the housing ladder, including increasing the allocation of homes under the White Form Secondary Market Scheme (WSM).

Starting from the next WSM exercise, the authority will increase the allocation by 1,000, to 7,000. Half of the additional allocation will be reserved for young families and one-person applicants aged below 40 under the Youth Scheme (WSM). The remaining 500 will be ordinary allocations.

The authority highlighted that in response to keen market demand, under WSM 2024, it increased the allocation by 1,500 homes, with all of these going to young families and one-person applicants aged below 40. It said that WSM 2024 was about five times over-subscribed.

Stressing that more than 80% of the applications received came from young applicants under the Youth Scheme (WSM), it added that this shows the scheme is valued by young people.

Regarding operational arrangements, the committee said that in recent WSM exercises an average of about 15% to 20% of applicants allocated a home failed to apply for a Certificate of Eligibility to Purchase (CEP) within the specified period.

To avoid wastage of allocations, the committee said that starting from the next WSM exercise the number of approval letters issued by the authority will be higher than the total WSM allocation. Details of the over-issuance will be announced prior to each application period.

The committee added that starting from the WSM 2024, any unused allocations will be given to one-person applicants, consistent with the practice adopted in the sale of primary subsidised sale flats (SSF).

Moreover, to ensure full utilisation of the WSM 2024 allocation, the authority will issue an additional batch of approval letters corresponding to the ballot order.

The authority will also increase the ratio Green Form to White Form allocations from 40:60 to 50:50 starting from the next Home Ownership Scheme (HOS) sale exercise, and at the same time increase the ratio of larger units in HOS and Green Form Subsidised Home Ownership Scheme (GSH) projects to encourage more Public Rental Housing tenants to purchase SSFs.

Taking into account the fact that HOS and GSH flat transactions on the open market have been declining, and to encourage upward mobility via the housing ladder, the committee decided today to shorten the alienation restriction period for new SSFs offered for sale on the open market from 15 years to 10 years from the date of the first assignment, starting from the next HOS and GSH sale exercises.

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CE meets Shanghai officials

Source: Hong Kong Information Services

Chief Executive John Lee today addressed a conference and met senior officials of Shanghai as he continued his visit to the city.

In the morning, Mr Lee delivered a speech at the “Hong Kong – The Ideal Platform for Mainland Enterprises in Going Global Promotion Conference”, highlighting Hong Kong’s advantages as an international platform for going global.

He met Secretary of the Shanghai Municipal Committee of the Communist Party of China (CPC) Chen Jining and Shanghai Mayor Gong Zheng in the afternoon. Executive Deputy Director of the Hong Kong & Macao Work Office of the CPC Central Committee and the Hong Kong & Macao Affairs Office of the State Council Xu Qifang also attended the meeting.

Mr Lee congratulated the Shanghai officials on the successful opening of the China International Import Expo and expressed his wishes for its success. He also thanked the CPC Shanghai Municipal Committee and the Shanghai Municipal Government for their support to the Hong Kong Special Administrative Region Government in holding the promotion conference during this year’s expo.

Mr Lee noted that the Task Force on Supporting Mainland Enterprises in Going Global, proposed in his latest Policy Address, has commenced its work.

As the first large-scale publicity event on the Mainland organised by the task force, the promotion conference is of great significance, he stressed, adding that Shanghai and Mainland enterprises are welcome to use Hong Kong as a springboard in exploring overseas markets and pursuing development together.

He also thanked the CPC Shanghai Municipal Committee and the Shanghai Municipal Government for their emphasis and support on Shanghai-Hong Kong co-operation over the years.

Noting that the Shanghai Gold Exchange’s International Board launched its first offshore gold delivery vault in Hong Kong this June, Mr Lee said the Hong Kong SAR Government will continue to work with Shanghai to promote gold trading co-operation.

The Chief Executive further remarked that with Shanghai’s development in artificial intelligence (AI) and Hong Kong’s efforts in leveraging its strengths in research, capital, data and talent to develop into an international innovation and technology centre, the two places could synergise and jointly develop a global hub for AI.

He also expressed confidence that the two cities will continue to complement each other’s strengths in order to jointly develop new quality productive forces.

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Monthly gravidtrap index for Aedes albopictus mosquitoes drops further in October

Source: Hong Kong Government special administrative region

Monthly gravidtrap index for Aedes albopictus mosquitoes drops further in October　
     In October, all 64 survey areas recorded an area gravidtrap index (AGI) lower than the alert level of 20 per cent. The decreases in the MGI and the AGI are attributable to the continuous and intensified mosquito prevention and elimination operations by various government departments and stakeholders, and may also have been affected by factors such as weather. The monthly rainfall was 31.2 millimetres in October, showing a substantial decrease from the 528.7mm in September and 939.2mm in August. Overall, the MGI for Aedes albopictus mosquitoes in October was 2.2 per cent, at Level 1 (indicating the distribution of Aedes albopictus mosquitoes in the survey areas was not extensive). Relevant departments and stakeholders will persistently intensify mosquito prevention and elimination operations.
　
     Moreover, the monthly density index for Aedes albopictus in October was 1.2, which represented that an average of 1.2 Aedes albopictus adults were found in the Aedes-positive gravidtraps, indicating that the number of adult Aedes albopictus was not abundant in the survey areas.
　
     The FEHD currently makes regular announcements on gravidtrap indexes for Aedes albopictus on its webpage. To allow more citizens to quickly grasp the mosquito infestation situation, the FEHD has strengthened information dissemination by promptly announcing the latest gravidtrap indexes through press releases and social media.
　
     In addition, to further reduce the risk of transmission of CF, the FEHD has extended the intensified mosquito control work, which was originally activated when the AGI reaches 20 per cent, to cover areas with the AGI falling between 10 and 20 per cent. Specifically, the FEHD will conduct detailed risk assessments in the areas concerned to identify locations with higher mosquito infestation risks and, in collaboration with relevant departments and stakeholders, conduct intensive and targeted mosquito control work. The FEHD will also notify nearby housing estates, advising property management agents and residents to stay vigilant and work together to take mosquito prevention and elimination measures.
　
     To reduce the risk of transmission of CF and DF, the FEHD continues to step up mosquito prevention and control measures across all districts and to conduct vector investigations and targeted mosquito control operations within a 250-metre radius of the residence of patients and the places patients had visited during the infectious period, including removing mosquito breeding grounds, applying larvicides to stagnant water that cannot be cleared, and carrying out ultra-low volume fogging operations in adult mosquito habitats such as densely wooded areas, dark and secluded places, and abandoned structures to eliminate adult mosquitoes.

     The FEHD continues to conduct its three-phase Anti-mosquito Campaign this year. The third phase of the territory-wide campaign ended on October 24. During the period, the district offices of the FEHD targeted areas that have drawn particular concern, such as public markets, cooked food centres, hawker bazaars, single-block buildings, streets and back lanes, common parts of buildings, village houses, construction sites, vacant sites and road works sites to remove accumulated water and carry out mosquito prevention and control work. To further enhance the effectiveness of mosquito control, the FEHD and relevant government departments have carried out phase two of the All-out Anti-mosquito Operations from May 7. In addition to the work of phase one, including eliminating potential mosquito breeding places, the FEHD called on property management entities to arrange for necessary repairs to their premises to minimise mosquito breeding places and commence adult mosquito control measures by means of regular ultra-low volume fogging operations.　
     Aedes albopictus is a kind of mosquito that can transmit DF and CF. DF is commonly found in tropical and subtropical regions of the world, and has become endemic in many countries in Southeast Asia. In 2024, the World Health Organization (WHO) recorded over 14 million cases, which was a record number. Additionally, according to the WHO, CF cases have been recorded in more than 110 countries/regions. Many countries worldwide experienced CF outbreaks this year, and as of September, over 440,000 cases had been reported in 40 countries/regions worldwide. The DF and CF activities in neighbouring areas have remained high. Members of the public should stay vigilant and continue to carry out effective mosquito prevention and control measures.
Issued at HKT 17:00

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HA approves measures to encourage upward mobility through housing ladder

Source: Hong Kong Government special administrative region

HA approves measures to encourage upward mobility through housing ladder 
     The Hong Kong Housing Authority (HA)’s Subsidised Housing Committee (SHC) today (November 6) approved a series of measures that encourage upward mobility through the housing ladder, including increasing the quota and enhancing the arrangements of the White Form Secondary Market Scheme (WSM), and relaxing the alienation restriction period of new subsidised sale flats (SSF) that will be put up for sale in the open market.
 
     Starting from the next WSM exercise, the HA will further increase the quota by 1 000 to 7 000. Half of the additional quotas will be allocated to young families and one-person applicants aged below 40 opting to join the Youth Scheme (WSM), while the remaining 500 are ordinary quotas.
 
     “In response to keen market demand for the WSM quota, the HA substantially increased the quota by 1 500 and all of them were allocated to young families and one-person applicants aged below 40 under WSM 2024, which eventually was over-subscribed by about five times. More than 80 per cent of the applications received came from young applicants opting to join the Youth Scheme (WSM). This reflected that the scheme was well received by young people,” a spokesman for HA said.
 
     Regarding the operational arrangements of the WSM, the SHC noted that, in recent WSM exercises, an average of about 15 per cent to 20 per cent of the applicants awarded with a quota did not apply for the Certificate of Eligibility to Purchase (CEP) within a specified period for purchasing SSF with premium unpaid in the secondary market.
 
     To avoid wastage of quotas due to personal preferences, the SHC endorsed that starting from the next WSM exercise, the number of Approval Letters to be issued by the HA will be suitably higher than the quota set under the WSM exercise, ensuring that the quota for flat purchases can be fully utilised. The HA will determine the exact percentage of the over-issuance having regard to relevant factors, and details will be announced prior to each application period.
 
     The SHC also approved, starting from the WSM 2024, any unused family quotas will be allocated to one-person applicants, which is consistent with the practice adopted for the primary SSF sale exercise. Moreover, to ensure full utilisation of WSM 2024 quotas, depending on the situation of approved applicants applying for the CEPs, the HA will issue an additional batch of Approval Letters according to the ballot order to cover unused quotas.
 
     The HA will also increase the ratio of the quota allocation between Green Form and White Form from 40:60 to 50:50 starting from the next Home Ownership Scheme (HOS) sale exercise, and at the same time increase the ratio of larger units in HOS and Green Form Subsidised Home Ownership Scheme (GSH) projects to encourage more Public Rental Housing tenants to purchase SSF.
 
     The HA tightened the alienation restrictions of HOS and GSH flats in 2022 to prevent short-term speculative activities. The restriction period for sale in the open market upon payment of premiums was lengthened from the first 10 years to the first 15 years since the date of first assignment. Taking into account the latest market development that the transactions of HOS and GSH flats in the open market have been declining, and to encourage upward mobility through the housing ladder, the SHC endorsed today to shorten the alienation restriction period of new SSF that will be put up for sale in the open market from 15 years to 10 years from the date of the first assignment, starting from the next HOS and GSH sale exercises.
 
     Safeguarding the basic housing needs of Hong Kong people is the top priority of the Government. With the supply of public housing continuously increasing, the Government is also committed to enriching the housing ladder to facilitate upward mobility for the public. Last year’s Policy Address introduced various measures to help members of public, especially young people, achieve home ownership and rekindle their hopes. In the 2025 Policy Address, the Chief Executive further announced a series of initiatives to assist people from different social strata in attaining comfortable and fulfilling lives.
Issued at HKT 16:59

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