Month: December 2025

Source: Hong Kong Information Services

The launch ceremony of the Pilot Scheme on Sports Dispute Resolution was held today and the scheme will start accepting case applications at the beginning of the first quarter of 2026.

The scheme aims to provide the sports sector with a fair, efficient and convenient mechanism for resolving sports disputes through mediation and arbitration, thereby contributing to the sustainable development of Hong Kong’s sports industry and promoting the city as an international centre for sports dispute resolution.

Deputy Secretary for Justice and Advisory Committee on Sports Dispute Resolution Chairperson Cheung Kwok-kwan, Secretary for Culture, Sports & Tourism Rosanna Law, and Director-General of the Department of Law of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region Liu Chunhua were in attendance.

Over 160 representatives from the sports and legal sectors, including the Sports Federation & Olympic Committee of Hong Kong, China, the Hong Kong Sports Institute, the Hong Kong Bar Association, the Law Society of Hong Kong and national sports associations, as well as some current and retired Hong Kong athletes, also joined the ceremony.

Speaking at the ceremony, Mr Cheung said that with the vibrant development of the sports industry, sports disputes are an inevitable result of interactions among stakeholders, adding that establishing a dedicated mechanism for resolving sports disputes is an important foundation for advancing the sports industry to new heights.

Mr Cheung reiterated that the scheme provides a fair, efficient, and convenient mechanism for resolving sports disputes through mediation and arbitration, promoting the development of the sports industry through free competition in a fair market.

The Department of Justice (DoJ) will collaborate with the legal and sports sectors to organise various promotional and training activities to further enhance public awareness of sports dispute resolution. Mr Cheung also encouraged professionals from different fields to actively participate in and make further contributions to the development of sports industry and dispute resolution services in Hong Kong.

Miss Law in her speech said that the Culture, Sports & Tourism Bureau fully supports the DoJ as well as the legal and sports sectors in jointly promoting the pilot scheme, which establishes a neutral, fair, and efficient mechanism to effectively handle various sports-related disputes and safeguard the legitimate rights and interests of athletes, coaches, sports organisations and all stakeholders.

She added that the pilot scheme also contributes to creating a healthier and more sustainable development environment, laying a solid foundation for the long-term future of sports in Hong Kong.

The AALCO Hong Kong Regional Arbitration Centre (AALCO-HKRAC) will administer the pilot scheme and provide institutional support for the conduct of mediation and arbitration.

Whereas the eBRAM International Online Dispute Resolution Centre (eBRAM) will provide the technological infrastructure and support required for the operation of the pilot scheme, with a view to promoting a wider use of lawtech and online dispute resolution services.

At the launch ceremony, Mr Cheung, on behalf of the DoJ, signed a memorandum of understanding with representatives from the AALCO-HKRAC and the eBRAM.

In the subsequent panel discussions, speakers from the legal and sports sectors, as well as the DoJ, engaged in in-depth discussions on the advantages of mediation and arbitration in resolving sports disputes and introduced the features of the pilot scheme.

The pilot scheme’s operational period will be two years followed by a review. It will adopt a mediation first, arbitration next approach to resolve both commercial and non-commercial sports disputes.

Featuring an online mediation and arbitration platform, the scheme will also expedite procedures to enhance the efficiency of dispute resolution and address urgent disputes that may arise during competition. The Government will provide subsidies for eligible cases. 

Source: Hong Kong Government special administrative region – 4

     Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the 23rd Anniversary Gala Dinner of The Chamber of Hong Kong Listed Companies today (December 11):
 
K C (Chairperson of the Chamber, Professor K C Chan), Mike (Chief Executive Officer of the Chamber, Mr Wong Ming-wai), distinguished guests, ladies and gentlemen,
 
     It is my pleasure to join you tonight at the 23rd Anniversary Gala Dinner of the Chamber of Hong Kong Listed Companies.
 
     For more than two decades, the Chamber has played a pivotal role in strengthening Hong Kong’s position as a leading international financial centre. By fostering collaboration between listed companies, regulators, and the Government, the Chamber has helped shape the development of our markets. Today, as global finance undergoes profound transformation – from shifting capital flows to rising demand for resilience, innovation, and connectivity – Hong Kong stands firmly at the heart of this change. Our city continues to demonstrate agility and strength.
 
Market vibrancy and resilience
 
     Hong Kong’s capital markets are distinguished by their breadth, depth, and regional connectivity. With over 2 600 companies listed on the HKEX (Hong Kong Exchanges and Clearing Limited) spanning diverse industries, our market capitalisation reached HK$48 trillion by the end of November this year – a 41 per cent increase year-on-year. Average daily turnover in the first 11 months of this year exceeded HK$255 billion, almost double the figure from the same period last year.
 
     We have also reclaimed our position as the world’s top initial public offering (IPO) venue. By November, IPO proceeds totalled HK$259 billion, a remarkable 228 per cent increase year-on-year. Ninety-three new companies have been listed this year, attracting strong interest from international institutional investors. The pipeline is equally promising, with over 300 companies preparing to list – the highest on record – and more than 40 per cent of them from the technology sector. Beyond IPOs, Hong Kong also ranks among the top three exchanges globally for follow-on issuance, raising over US$85 billion as of late November.
 
     This success is no accident. It reflects co-ordinated efforts by the Government, regulators, the HKEX, and industry peers to modernise our listing regime and attract high-quality issuers. Since 2018, reforms have made our platform more inclusive and competitive, welcoming new economy and technology enterprises. Streamlined pathways for overseas issuers, flexible disclosure standards and enhanced vetting timetables have further strengthened our appeal. The surge in activity this year is a testament to renewed investor confidence and the effectiveness of these reforms.
 
Advancing Renminbi (RMB) internationalisation
 
     Hong Kong is not only a hub for capital formation but also a strategic platform for RMB internationalisation. Leveraging our role as the world’s leading offshore RMB centre, we have built a suite of mutual market access programmes – Stock Connect, Bond Connect, Swap Connect – that link international investors with Mainland markets. These programmes have become essential infrastructure for cross-border investment and risk management.
 
     Recent enhancements have expanded product scope, improved settlement efficiency, and deepened integration. In the first three quarters of 2025, Northbound Stock Connect trading averaged over RMB200 billion daily, while Southbound trading reached an average of over HK$120 billion. Notably, Southbound inflows surged to HK$1.17 trillion – already surpassing last year’s total by nearly 45 per cent. Southbound trading now accounts for nearly a quarter of Hong Kong’s market turnover, underscoring the strength of Mainland investor participation.
 
     Beyond equities, we are also determined to reinforce Hong Kong’s role as a global fixed income and currency (FIC) hub – a cornerstone of the offshore RMB ecosystem. The Roadmap for the Development of FIC Markets, jointly announced by the Securities and Futures Commission and the Hong Kong Monetary Authority, sets out 10 initiatives across four pillars to guide policy and implementation. These measures aim to attract issuers, provide risk and liquidity management tools, boost offshore RMB usage, and develop next-generation infrastructure for innovation.
 
Reforming for growth and innovation
 
     Looking ahead, we are committed to sustaining momentum and unlocking new opportunities. A comprehensive review of the listing regime is underway, covering requirements for primary, secondary, and dual listings, as well as post-listing obligations. We are also broadening product offerings, fostering regional collaboration on exchange-traded fund (ETF) listings, and expanding the number of recognised exchanges to encourage two-way capital flows.
 
     At the same time, we are advancing initiatives to improve trading efficiency and strengthen risk management. Technical upgrades are supporting the transition to an uncertificated securities market, while further consultation will take place on adopting a T+1 settlement cycle for cash equities. Legislative work is also progressing to facilitate stamp duty payments in RMB, further promoting the currency’s use in cross-border transactions.
 
     On mutual market access, new measures are being taken forward with a view to their early implementation, including offshore Mainland government bond futures, block trading of stocks, and the inclusion of RMB counters. These steps will deepen integration and reinforce Hong Kong’s role as the gateway to Mainland opportunities.
 
Driving ESG awareness and strengthening sustainability disclosures
 
     Market development must go hand in hand with market quality and sustainability. Tonight’s Gala Dinner highlights a theme central to our future: corporate governance and ESG (environmental, social and governance). These are the foundations of integrity and sustainable growth in our capital markets. The Chamber has long championed excellence in governance and ESG, encouraging issuers to embed these values in their culture. I extend my heartfelt gratitude for its leadership.
 
     We are committed to raising governance standards and creating an environment conducive to long-term capital inflows. Since 2022, the HKEX has implemented Core Shareholder Protection Standards and revised the Corporate Governance Code, strengthening practices in areas such as board independence, diversity, and shareholder communication. Following extensive consultation, new measures to enhance board effectiveness, independence, and risk management have been rolled out in phases since July this year, reflecting rising global investor expectations.
 
     Equally important are sustainability disclosures aligned with international standards. In January, The HKEX introduced new climate-related disclosure requirements, closely aligned with IFRS (International Financial Reporting Standards) S2 standards. This positions Hong Kong among the first exchanges globally to adopt such measures, reinforcing our role as a sustainable finance centre and preparing issuers for eventual local sustainability reporting.
 
     Our sustainable finance ecosystem continues to grow. By September, Hong Kong hosted over 500 green, social, and sustainable bonds and 10 ESG-related ETFs. We are now the world’s second-largest biotech fundraising hub and the largest EV (electric vehicles) fundraising ecosystem. The introduction of Chapter 18C has further facilitated listings by specialist technology companies, including green tech enterprises. Going forward, we will work closely with regulators and the HKEX to strengthen ESG frameworks and support corporates on their sustainability journey.
 
Closing
 
     Ladies and gentlemen, as we conclude a busy and transformative year, I wish to thank the Chamber and its members for your invaluable contributions to the growth and quality of our markets. As we continue to enhance competitiveness, deepen connections with the Mainland, and strengthen ties with the global business community, I am confident that the Government can count on your partnership. Together, we will ensure Hong Kong remains not only efficient and innovative, but also inclusive, sustainable, and responsive to the aspirations of investors and enterprises across our country and region.
 
     Finally, let me congratulate the Chamber on its 23rd anniversary, and extend warm congratulations to the recipients of this year’s Corporate Governance and ESG Excellence Awards.
 
     I wish you all a pleasant evening, and a healthy and prosperous year ahead. Thank you.

Source: Hong Kong Government special administrative region – 4

     The launching ceremony of the Pilot Scheme on Sports Dispute Resolution was held at Kai Tak Stadium today (December 11).
 
     The pilot scheme, launched by the Department of Justice (DoJ) and supported by the Culture, Sports and Tourism Bureau (CSTB) as one of the initiatives under the Policy Address, aims to provide the sports sector with a fair, efficient and convenient mechanism for resolving sports disputes through mediation and arbitration, thereby contributing to the sustainable development of Hong Kong’s sports industry and promoting Hong Kong as an international centre for sports dispute resolution.
 
     The Deputy Secretary for Justice and Chairperson of the Advisory Committee on Sports Dispute Resolution, Dr Cheung Kwok-kwan; ​​the Secretary for Culture, Sports and Tourism, Miss Rosanna Law; the Director-General of the Department of Law of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Mr Liu Chunhua; the Commissioner for Sports, Mr George Tsoi; and Vice-President of the Sports Federation & Olympic Committee of Hong Kong, China (SF&OC), Mr Kenneth Fok, attended the launching ceremony. Over 160 representatives from the sports and legal sectors, including the SF&OC, the Hong Kong Sports Institute, the Hong Kong Bar Association, the Law Society of Hong Kong and national sports associations, as well as some current and retired Hong Kong athletes, also joined the ceremony.
 
     Delivering a speech at the ceremony, Dr Cheung said that with the vibrant development of the sports industry, sports disputes are an inevitable result of interactions among stakeholders; therefore, establishing a dedicated mechanism for resolving sports disputes is an important foundation for advancing the sports industry to new heights.
 
     Dr Cheung stated that the DoJ has been working closely with the sports and legal sectors on the launch of the pilot scheme over the past two years. This scheme provides a fair, efficient, and convenient mechanism for resolving sports disputes through mediation and arbitration, promoting the development of the sports industry through free competition in a fair market. The DoJ will continue to collaborate with the legal and sports sectors to organise various promotional and training activities to further enhance public awareness of sports dispute resolution. He also encouraged professionals from different fields to actively participate in and make further contributions to the development of sports industry and dispute resolution services in Hong Kong.
 
     Miss Law in her speech said that the CSTB fully supports the DoJ as well as the legal and sports sectors in jointly promoting the Pilot Scheme on Sports Dispute Resolution, which establishes a neutral, fair, and efficient mechanism to effectively handle various sports-related disputes and safeguard the legitimate rights and interests of athletes, coaches, sports organisations and all stakeholders. The pilot scheme not only addresses the current practical needs of the sector, but also contributes to creating a healthier and more sustainable development environment, laying a solid foundation for the long-term future of sports in Hong Kong.
 
     At the launching ceremony, Dr Cheung, on behalf of the DoJ, signed a memorandum of understanding with the representatives from the AALCO Hong Kong Regional Arbitration Centre (AALCO-HKRAC) and the eBRAM International Online Dispute Resolution Centre (eBRAM). The AALCO-HKRAC will administer the pilot scheme and provide institutional support for the conduct of mediation and arbitration, while eBRAM will provide the technological infrastructure and support required for the operation of the pilot scheme, with a view to promoting a wider use of lawtech and online dispute resolution services.
 
     In the subsequent panel discussions, speakers from the legal and sports sectors, as well as the DoJ, engaged in in-depth discussions on the advantages of mediation and arbitration in resolving sports disputes and introduced the features of the pilot scheme.
 
     To implement the pilot scheme, the DoJ established the Advisory Committee on Sports Dispute Resolution, comprising representatives from the CSTB, the Hong Kong Bar Association, and the Law Society of Hong Kong early this year. It also invited proposals from interested dispute resolution institutions and online dispute resolution institutions for the operation of the pilot scheme in June. The Advisory Committee then conducted a rigorous review of the proposals received based on a set of published assessment criteria. The AALCO-HKRAC and the eBRAM have been selected to serve respectively as the administering body and the technology provider of the pilot scheme.
 
     The pilot scheme will begin accepting case applications at the beginning of the first quarter of 2026, with an operational period of two years followed by a review. It will adopt a “mediation first, arbitration next” approach to resolve both commercial and non-commercial sports disputes. The pilot scheme features an online mediation and arbitration platform, as well as expedited procedures to enhance the efficiency of dispute resolution and address urgent disputes that may arise during competition. The Government will provide subsidy for eligible cases.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region – 4

In response to suspected illegal sales of slimming products containing banned and undeclared controlled drug ingredients on social media platforms, the Department of Health (DH) today (December 11) carried out enforcement operations in Tseung Kwan O and Tai Po with the Police. During the operations, a 27-year-old woman was arrested.

Acting upon intelligence, the DH had earlier purchased samples of two slimming products via an instant messaging application and sent them to the Government Laboratory for analysis. The test results revealed that one capsule sample, packaged in a black plastic container labelled “HELLO GIRL time to show your figure” (see photo 1), contained sibutramine and frusemide. The other capsule sample, packaged in an unlabelled blue plastic container (see photo 2), contained sibutramine, N-desmethylsibutramine and frusemide. All three ingredients are Part 1 poisons under the Pharmacy and Poisons Ordinance (Cap. 138) (PPO). The two products concerned are also suspected to be unregistered pharmaceutical products.

The DH urged members of the public who have purchased the products concerned to stop consuming them immediately, and reminded the public not to buy or consume products of doubtful composition or from unknown sources. The DH will continue to investigate the incident and take appropriate follow-up actions.

Sibutramine was once used as an appetite suppressant. Since November 2010, pharmaceutical products containing sibutramine have been banned for use and sale in Hong Kong due to an increased cardiovascular risk. N-desmethylsibutramine is a substance structurally similar to sibutramine. Frusemide is used for the treatment of heart diseases, and its side effects include low blood pressure and electrolyte imbalance. Medicines containing frusemide should be used under a doctor’s direction and be supplied on the premises of an Authorized Seller of Poisons (i.e. pharmacy) under the supervision of a registered pharmacist upon a doctor’s prescription.

According to the PPO, all pharmaceutical products must be registered with the Pharmacy and Poisons Board of Hong Kong before they can be sold in the market. Illegal sale or possession of unregistered pharmaceutical products or Part 1 poisons are criminal offences. The maximum penalty for each offence upon conviction is a fine of $100,000 and two years’ imprisonment.

The DH reminded members of the public that all registered pharmaceutical products should carry a Hong Kong registration number on the package in the format of “HK-XXXXX”. The safety, quality and efficacy of unregistered pharmaceutical products are not guaranteed.

People who have purchased the products concerned should stop consuming them immediately and consult healthcare professionals if in doubt or if they feel unwell after consumption. They may submit the products to the Drug Office of the DH at Room 1804-06, 18/F, Wing On Kowloon Centre, 345 Nathan Road, Kowloon, during office hours for disposal.

Weight control should be achieved through a balanced diet and appropriate exercise. The public should consult healthcare professionals before consuming any medication for weight control. They may visit the website of the Drug Office of the DH for “Health message on overweight problem and slimming products” and “Slimming products with undeclared Western drug ingredients” for information.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

     The Chinese Medicine Hospital of Hong Kong (CMHHK) commenced operations in phases today (December 11), offering outpatient and day-patient services, fully launching six specialised Chinese medicine (CM) services, along with 12 special disease programmes in the first year. In response to the keen public demand for government-subsidised outpatient services, the hospital will increase the quota for the members of the public to book government-subsidised general outpatient services in the first month after the service commencement.

     The Secretary for Health, Professor Lo Chung-mau, said, “The service commencement of CMHHK marks a significant milestone in the development of CM in our city, signifying the progression of Hong Kong’s CM to go beyond primary healthcare and play a part in secondary and tertiary healthcare services. I look forward to CMHHK providing more comprehensive CM services to the members of the public, and developing a ‘Hong Kong model’ for pure CM, services with CM playing the predominant role and integrated Chinese-Western medicine (ICWM) services. It will also dovetail with the upcoming CM Development Blueprint to be announced by the Government, to foster a high-quality and high-standard development of CM on all fronts, thereby providing powerful impetus for CM to go global.”

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region – 3

 

Source: Hong Kong Government special administrative region