Month: December 2025

Source: Hong Kong Information Services

The Labour Department (LD) today appealed to eligible workers and foreign domestic helpers (FDHs) employed at Wang Fuk Court, Tai Po to submit their applications for a $20,000 special subsidy as soon as possible.  

The LD will disburse the special subsidy to each local worker and FDH affected by the Wang Fuk Court fire, and is contacting trade unions, service contractors, concerned consulates-general in Hong Kong and affected households, to arrange for applications.

The subsidy for workers supports construction workers, cleaning workers and security guards who have originally worked at Wang Fuk Court. They may also download the application form, and complete and return it by fax to 2697 3394, email to lrd-hq@labour.gov.hk, post to the Office of Labour Relations Division (Shatin & Taipo) at Rooms 304-313, 3/F, Sha Tin Government Offices, or in person.

The subsidy for FDHs supports helpers who have originally worked at Wang Fuk Court. They may download the application form and return the completed form by fax to 3101 0604, email to fdh-subsidy@labour.gov.hk, post to the LD’s Foreign Domestic Helpers Division at 16/F, One Mong Kok Road Commercial Centre, or in person.

Call 2929 4054 for enquiries on the workers’ subsidy, and 3582 8987 for the FDH subsidy.

The LD added that it will process and verify the applications expeditiously and disburse the subsidies.

Source: Hong Kong Government special administrative region

Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Insurtech Insights Asia 2025 today (December 3):

Kristoffer (CEO of Insurtech Insights, Mr Kristoffer Lundberg), distinguished guests, industry leaders, ladies and gentlemen,

Welcome again to Hong Kong, and it is a privilege of mine to address all of you today at Insurtech Insights Asia 2025. I extend my heartfelt gratitude to the organisers for convening this gathering of innovators who are redefining the boundaries of insurance through technology. This gathering is far more than an event; it is a powerful catalyst for collaboration, imagination, and the bold ideas that will shape the future of risk management across Asia and beyond.

Hong Kong has long been recognised as one of the world’s premier international financial centres. Our strategic position at the heart of Asia, our robust legal system, our deep pool of global talent, and our unwavering commitment to market development have together created a uniquely fertile ecosystem for the insurance sector.

Today, we host 160 authorised insurers incorporated in Hong Kong, the Mainland, and overseas countries. Six of them are indeed among the world’s top 10 insurance groups. Last year, total gross premiums surpassed HK$637 billion, while the industry contributed 3.5 per cent to our GDP (Gross Domestic Product). More tellingly, Hong Kong recorded the highest insurance density in Asia and the second highest globally at over US$8,700 per capita, and an insurance penetration rate of 18.2 per cent – the highest in the world. These are not mere statistics or numbers; they are proof of the trust that individuals, families, and enterprises place in Hong Kong as their preferred centre for managing risk.

Yet we are not content to rest on these achievements. Under the National 14th Five-Year Plan, the Central Government has endorsed Hong Kong’s development as a risk management hub. We are determined to fulfil our role as the “super-connector” and “super value-adder” – a two-way springboard that propels Mainland enterprises onto the global stage while inviting international players like all of you to seize the vast opportunities of our nation and the region.

Technology – particularly insurtech – is the engine that will accelerate this vision. Artificial intelligence, digital distribution, open ecosystems, and resilient cyber infrastructure are no longer optional enhancements; they are fundamental to building an insurance sector that is smarter, faster, more inclusive, and more responsive to the needs of a new generation.

Earlier this year, our Insurance Authority, whose Chairman and CEO are both here today, completed a survey on AI adoption across our industry. The findings are both encouraging and instructive. Twenty per cent of insurers have already formulated formal AI strategies and are actively implementing solutions. Over half of them are in exploratory or pilot phases, while 40 per cent plan to increase investment over the next two years. Larger insurers are leading deployment, medium-sized firms are formulating strategies, and smaller players are carefully assessing pathways forward. Indeed, generative AI is already transforming customer communication through intelligent chatbots, accelerating information retrieval, and streamlining claims management. Encouragingly, we see a clear shift: from purely internal process optimisation towards powerful customer-facing applications and distribution support.

These developments, however, also highlight challenges that we must tackle collectively: the availability of skilled AI talent, data quality and availability, budget constraints, regulatory compliance, and the integration of new systems with legacy infrastructure. In response, our Insurance Authority is pursuing a balanced, two-pronged strategy that provides regulatory clarity while actively nurturing innovation.

On the regulatory front, we will soon issue updated supervisory guidance on the use of AI, ensuring that innovation is always accompanied by fairness, accountability, transparency, and also robust policyholder protection. Industry consultation on the revised guidance will commence by early next year.

On the development front, I am delighted to highlight the launch in August of the AI Cohort Programme. Seven leading insurers have pledged as core participants, committing to establish an AI Centre of Excellence right here in Hong Kong – a regional hub that will drive innovation, nurture talent through structured capability-building initiatives, and foster knowledge-sharing across the industry and with regulators. The programme provides shared resources, regulatory-compliant testing environments, and matchmaking between insurers and cutting-edge technology providers like all of you. Regular seminars and case-sharing sessions will disseminate best practices and accelerate adoption. Indeed, a core participant will sign a Memorandum of Understanding with Cyberport to leverage its supercomputing resources and AI ecosystem for collaborative proof-of-concept projects in areas such as fraud detection, claims automation, and personalised customer engagement.

This spirit of experimentation is further embodied in our insurtech-enabling initiatives. Since introducing the Fast Track for virtual insurers, the Insurance Authority has authorised four digital insurers – two in life and two in non-life business. These virtual insurers have been growing in terms of in-force policies and revenue premiums, demonstrating that fully digital models can indeed scale rapidly while maintaining the highest standards of consumer protection.

The Insurtech Sandbox has also been a resounding success. As of March this year, 43 applications have been approved – many involving remote video onboarding, intermediary-free digital sales of life products, and streamlined application processes. These controlled experiments allow us to test bold ideas in a safe environment, gather real-world evidence, and refine regulation in step with innovation.

We are equally committed to open ecosystems. The Insurance Authority is working closely with the industry on more than 30 Open API (Application Programming Interfaces) use cases spanning the entire insurance value chain. By fostering interoperability, we are laying the foundation for a truly connected insurance marketplace that benefits consumers and distributors alike.

In an increasingly digital world, cyber resilience is non-negotiable. In January this year, our Insurance Authority introduced the revamped Guideline on Cybersecurity and the Cyber Resilience Assessment Framework (C-RAF). This framework empowers insurers to assess their own risk exposure and control maturity and to develop targeted remediation plans. It represents a mature, forward-looking approach that keeps pace with evolving threats while preserving flexibility for institutions of different sizes and sophistication.

Ladies and gentlemen, the initiatives I just said, including AI guidance and the Cohort Programme, virtual insurers, sandbox, Open API, and cyber resilience, are not just isolated measures. Together, they form a coherent, future-oriented framework that positions Hong Kong as Asia’s insurtech capital.

And we are backing this framework with concrete policy support across the broader risk management landscape: the extended Pilot Insurance-linked Securities Grant Scheme, the new risk-based capital regime, the forthcoming review of infrastructure investment capital charges, the newly established commercial marine specialty risk pool, and our continuing efforts to attract captive insurers and international players to our market.

Hong Kong always stands ready. We offer the deepest insurance market in Asia, a regulatory regime that is both rigorous and responsive, a vibrant technology ecosystem, and an unshakeable commitment to innovation with integrity.

Let us seize this moment together. Let us harness insurtech to create an insurance industry that is not only more efficient, but also more inclusive, more sustainable, and more capable of protecting the aspirations of customers across our nation and our region. In recent days, our community has been reminded of the profound importance of this mission through a very tragic fire incident, a heartbreaking event that has touched us all. The swift and compassionate response from our insurance sector – facilitating claims processes with efficiency and empathy – has provided vital support to those affected, underscoring the sector’s enduring role as a pillar of societal resilience. We stand in solidarity with the families and communities impacted, drawing strength from our shared commitment to safeguard one another in times of adversity like this. I encourage our industry to continue this noble tradition of service, innovating not just for growth, but to fortify the bonds of trust and security that define a caring society. Thank you very much. I wish Insurtech Insights Asia 2025 every success and very much look forward to the ideas shared by Kristoffer and more insights that will emerge from the discussions today. Thank you.

Source: Hong Kong Government special administrative region – 4

​Following is the speech by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, at the grand opening ceremony of Business of Design Week 2025 today (December 3):

His Excellency Massimo Ambrosetti (Ambassador of Italy to the People’s Republic of China), Mr Joseph Lo (Chairman of the Hong Kong Design Centre), Ms Sophia Chong (Executive Director of the Hong Kong Trade Development Council), distinguished guests, ladies and gentlemen,

Good morning.  

I would like to extend a warm welcome to all of you especially those of you who have travelled near and far to join us at the grand opening of this year’s Business of Design Week (BODW). While I come here with a heavy heart following the recent fire in Tai Po, it gives me much comfort to see that Hong Kong does not face its challenges alone. Thank you for being here today – while our city continues to grieve and bravely confront the aftermath of the fire. Your presence is a meaningful gesture of the support indeed.  

Debuting in 2002, the BODW is Hong Kong’s flagship annual design event. It has been sponsored for many years by the Cultural and Creative Industries Development Agency and its predecessor, CreateHK. In the last two decades, it has grown into a globally acclaimed platform that fosters international exchange and business collaboration. True to its legacy, this year’s edition offers a series of thought-provoking programmes, centred around the theme “Curiosity Ignites Design Innovation” – reflecting how curiosity fuels creativity across arts, architecture, and manufacturing.  

Over the next three days, more than 50 world renowned creative and business leaders will share insights on how curiosity drives creativity and paves the way toward a more sustainable and inclusive future. Masters from various design disciplines will guide us on a journey to rediscover how good design enhances our quality of life – and reimagine how it can help shape a better tomorrow. 

This year, we have the privilege to welcome Italy once again as our partner country, building on our successful collaborations in 2007 and 2017. As 2025 also marks the 55th anniversary of diplomatic relations between the People’s Republic of China and Italy, this reunion at the BODW is both timely and meaningful. It also reaffirms Hong Kong’s role as an East meets‍ West centre for international cultural exchange.

I would like to thank the Hong Kong Design Centre for delivering yet another outstanding BODW programme – one that strengthens Hong Kong’s standing as a global design hub. Italy, a country globally celebrated for its design, aesthetics and creativity, will continue to inspire us as we reinforce our role as the creative capital of Asia.  

Before I close, I would once again like to extend my heartfelt gratitude to each and every one of you for your friendship and for the care you have shown Hong Kong. May you enjoy an inspiring and rewarding creative journey throughout this year’s BODW. Thank you.

Source: Hong Kong Government special administrative region

     Following are the welcome remarks by the Secretary for Justice, Mr Paul Lam, SC, at the Capital of Mediation event under Hong Kong Legal Week 2025 today (December 3):

Distinguished guests, ladies and gentlemen,

     Thank you for joining us today to discuss Hong Kong’s unique and visionary status as the Capital of Mediation.

     Hong Kong as the Capital of Mediation is not merely an aspirational slogan but a status built upon a foundation of strong national backing and a distinct identity: rooted in history, reinforced in practice, and recognised in policy. The 14th Five‑Year Plan expressly supports Hong Kong’s development as a centre for international legal and dispute resolution services in the Asia‑Pacific region. This national endorsement provides the momentum for us to leverage our unique position and project our robust rule of law globally.

     Hong Kong’s development in mediation began with the Civil Justice Reform initiated in the early 2000s and the pioneering work of the Working Group on Mediation headed by the then Secretary for Justice. These early efforts marked a decisive cultural shift in our legal landscape – from litigation being viewed as the default mechanism for dispute resolution towards embracing mediation as a primary, preferred approach that serves the interests of all parties involved. Today, Hong Kong has built an exceptionally mature mediation culture, anchored by comprehensive legal infrastructure. Effective since January 2013, the Mediation Ordinance provides a robust regulatory framework for mediation, ensuring that it remains a process characterised by confidentiality, flexibility, and reliability. Complementing this is the innovative Apology Ordinance, introduced in 2017, which facilitates reconciliation by allowing expressions of apology without admitting liability. These developments have been powered by concerted efforts across the Department of Justice, the Judiciary, and other key institutions to make amicable settlement the preferred path to justice. 

     The Hong Kong Judiciary also plays a vital role in promoting mediation as a key dispute resolution tool. Through initiatives like Practice Direction 31 and the establishment of Integrated Mediation Offices, our Judiciary encourages parties to resolve conflicts efficiently and amicably. This supportive stance reflects Hong Kong’s commitment to fostering a culture of settlement, reducing litigation costs, and enhancing access to justice.

     With a solid and longstanding foundation in mediation, amplified by strong national support, Hong Kong excels as an international mediation hub and as a “super-connector” between the Chinese Mainland and the international community. We serve as a neutral bridge between common law and civil law systems, not in theory but in practice. Under the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), for example, we have established a specialised mediation mechanism for cross-boundary investment disputes, giving Hong Kong investors and Mainland enterprises an efficient and culturally attuned channel to resolve differences and facilitating integration and building commercial trust along the way.

     To ensure this ecosystem thrives from the ground up, the Department of Justice vigorously promotes a “mediate first” culture.  Key initiatives include the “Mediate First” Pledge campaign, which encourages businesses to explore to adopt mediation as a first resort in resolving disputes; the bi-annual Mediation Week, which raises public awareness in sector-specific use of mediation; and a government-wide policy requiring mediation clauses to be incorporated in government contracts. Together with a strong and growing pool of over 2 300 accredited mediators, these efforts are building a dynamic, self-reinforcing mediation culture.

     And we carry this story to the world. Through targeted delegations and duty visits across Southeast Asia, Europe, and the Middle East, we are not just promoting our services; we are sharing successes, forging new partnerships, and issuing a compelling invitation to the world to collaborate with us in advancing the future of dispute resolution. This is a commitment to building a global community grounded in harmony and constructive problem-solving, the exact principles that Hong Kong is uniquely positioned to model and lead as the Capital of Mediation.

     In addition to the above initiatives and developments, what has set Hong Kong apart from any other mediation centres in the world and made it the Capital of Mediation is by hosting the International Organization for Mediation (IOMed) headquartered right here. The IOMed is the world’s first intergovernmental legal organisation exclusively dedicated to mediation as a means for the peaceful resolution of international disputes – filling an important institutional gap that previously existed in global mediation.

     Since the signing ceremony of the IOMed Convention held in Hong Kong on May 30 this year attended by around 400 representatives from 85 countries across Asia, Africa, Latin America, and Europe including officials at the ministerial level from over 30 signatories, as well as high officials from around 20 international organisations, the Convention has already come into effect in August with the IOMed commencing actual operations on October 20 this year.  Within just five months, the IOMed achieved the milestones of signing, coming into effect, and beginning operations – an exceptionally rapid pace in the history of international organisation establishment. This fully demonstrates that the establishment of the IOMed is in line with the trend of the times and has received widespread support and positive responses from the international community.

     The IOMed will mediate disputes between states or between a state and foreign investors, and international commercial disputes based on the will of relevant parties. Its establishment signals a new era for mediation. It institutionalises mediation at the international level, providing a treaty-based framework that enables states and private parties to engage in bespoke, voluntary mediation processes with the assurance that the outcomes are respected. 

     As Foreign Minister Wang Yi aptly remarked at the IOMed signing ceremony, Hong Kong was chosen and trusted by the international community to host the IOMed for our unparalleled strengths in international mediation, our affinity to the motherland and connection to the world, our enabling business environment, and highly developed legal system.  

     The value of mediation and the role of Hong Kong will be further highlighted during the discussion to follow. Today’s discussion will start with the keynote address by Mr Alberto Ninio, the General Counsel of the Asian Infrastructure Investment Bank, who will tell us how multilateral development banks and international organisations could engage with mediation. The first session will then examine mediation’s rising significance in international disputes, both between states and among private entities, and how tailored frameworks could facilitate the process, as illustrated by the IOMed Mediation Rules. The second session will turn the spotlight to our city’s own initiatives, including government efforts to deepen mediation culture and diverse community mediation applications.  

     As we embark on today’s discussions, let us remember the spirit that underpins the Capital of Mediation – a spirit of collaboration, respect, and relentless pursuit of peaceful solutions that benefit all.  

     Thank you.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region