Source: Hong Kong Government special administrative region
Appointments to Disaster Relief Fund Advisory CommitteeChief Secretary for Administration (ex-officio)Dr Ko Wing-man
Mr Chan Hak-kan
Mr Stanley Ng Chau-pei
Revd Canon Peter Douglas Koon Ho-ming
Professor Emily Chan Ying-yang
Mr Brian David Li Man-bun
Secretary for Financial Services and the Treasury or representative (ex-officio)
Secretary for Labour and Welfare or representative (ex-officio)
Issued at HKT 16:30
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Online auction of vehicle registration marks to be held from February 26 to March 2
Source: Hong Kong Government special administrative region
Online auction of vehicle registration marks to be held from February 26 to March 2
A spokesman for the TD said, “A total of 220 Ordinary VRMs will be available at this online public auction. The list of VRMs (see Annex) has been uploaded to the E-Auction website. Applicants who have paid a $1,000 deposit to reserve an Ordinary VRM for auction should also register as an E-Auction user in advance in order to participate in the online bidding, including placing the first bid at the opening price of $1,000. Otherwise, the VRMs reserved by them may be bid on by other interested bidders at or above the opening price. Auctions for VRMs with ‘HK’ or ‘XX’ as a prefix, special VRMs and personalised VRMs will continue to be carried out through physical auctions by bidding paddles and their announcement arrangements remain unchanged.”
Members of the public participating in the online bidding should take note of the following important points:
(2) Bidders are required to provide a digital signature to confirm the submission and amount of the bid by using “iAM Smart+” or a valid digital certificate at the time of the first bid of each online bidding session (including setting automatic bids before the auction begins) to comply with the requirements of the Electronic Transactions Ordinance.
(3) If a bid is made in respect of a VRM within the last 10 minutes before the end of the auction, the auction end time for that particular VRM will be automatically extended by another 10 minutes, up to a maximum of 24 hours.
(4) Successful bidders must follow the instructions in the notification email issued by the TD to log in to the E-Auction within 48 hours from the issuance of email and complete the follow-up procedures, including:
(5) A VRM can only be assigned to a motor vehicle registered in the name of the purchaser. Relevant information on the Certificate of Incorporation must be provided by the successful bidder in the Purchaser Information of the Memorandum of Sale if the VRM purchased is to be registered under the name of a body corporate.
(6) Successful bidders will receive a notification email around seven working days after payment has been confirmed and can download the Memorandum of Sale from the E-Auction. The purchaser must apply for the VRM to be assigned to a motor vehicle registered in the name of the purchaser within 12 months from the date of issue of the Memorandum of Sale. If the purchaser fails to do so within the 12-month period, in accordance with the statutory provision, the allocation of the VRM will be cancelled and a new allocation will be arranged by the TD without prior notice to the purchaser.Issued at HKT 15:00
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Fatal traffic accident in Lantau North
Source: Hong Kong Government special administrative region
Fatal traffic accident in Lantau North
Police are investigating a fatal traffic accident happened in Lantau North today (February 11) in which a man died.
At 9.49am, a taxi driven by a 43-year-old man was travelling along North Lantau Highway towards Hong Kong International Airport. It reportedly rammed into a stationary works vehicle.Issued at HKT 19:25
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Summer internship scheme launches
Source: Hong Kong Information Services
The Government today launched the “HYAB (Home & Youth Affairs Bureau) Scheme on Corporate Summer Internship on the Mainland & Overseas 2026”, with a view to providing young Hongkongers with quality internship placements.
Run in collaboration with 29 large corporates, the scheme will help youths learn, at first-hand, about national development and international trends.
Additionally, it will give young people exposure to the work culture of large corporates, and an opportunity to establish interpersonal networks.
Overall, it will enable them to accumulate invaluable work experience and lay a foundation for their future career development.
The internship placements are offered in various Mainland cities in the Greater Bay Area, as well as in Beijing, Shanghai, Chengdu, Chongqing and Hangzhou. Other internships are in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Australia.
The placements span a variety of industries, including financial services, innovation and technology, pharmaceuticals, logistics, property development, construction, retail, hospitality and utilities.
They will take place between June and September. Participating companies will sponsor the interns’ major expenses, including transportation and accommodation costs, and assign dedicated personnel to provide training and support.
Aspiring participants should submit their applications online on or before March 9.
Click here for more details.
Govt leads digital asset regulation
Source: Hong Kong Information Services
Financial Secretary Paul Chan
Evolving global trends
Globally, the application of Web3 technologies in finance continues to broaden in both scope and sophistication. A few trends are more prominent. The first is tokenisation of RWAs (real-world assets). In a growing number of markets, tokenisation initiatives are moving from “proof of concept” to real-word deployment, supported by more institutional adoption. Government bonds, money market funds and other more traditional financial instruments are increasingly being issued or mirrored on-chain, using digital ledgers to enhance settlement efficiency, enable fractional ownership and unlock liquidity in assets that have traditionally been less liquid.
Hong Kong is one of the pioneers in this space. The Hong Kong Special Administrative Region Government was the first in the world to issue tokenised government green bonds. Last year, we built on this foundation and issued the world’s largest digital green bond, with a multi-currency offering of $10 billion. Meanwhile, financial institutions are becoming more receptive to digital assets. By the end of last year, banks in Hong Kong held over $14 billion in digital assets under custody, a year-on-year increase of about 180%. Banks have also begun offering tokenised deposit services, with the total value of such deposits reaching $29 billion by the end of last year.
The second trend is a related and evolving one: that is, the interaction between “TradFi” (traditional finance) and “DeFi” (decentralised finance). Traditional institutions are now importing DeFi mechanisms into their own architectures – such as automated market-making, programmable liquidity pools and the use of on-chain collateral – to support more efficient trading, funding and settlement. At the same time, DeFi is coming under growing regulatory and supervisory pressure in multiple jurisdictions, particularly in relation to anti-money laundering, investor protection and broader financial stability. There have been growing calls for DeFi to be brought under existing or emerging digital-asset regulatory frameworks.
The third trend is the growing intersection between artificial intelligence (AI) and digital assets. AI systems are being designed to interact with tokenised money and smart contracts, enabling the autonomous execution of certain transactions and settlements. At the same time, AI tools are making digital asset markets more intelligent, efficient and data-driven. As AI agents become capable of making and executing decisions independently, we may begin to see the early forms of what some call the “machine economy”: where AI agents can hold and transfer digital assets, pay for services and transact with one another on chain. While this shift could deliver substantial efficiency gains, it also raises important questions around AI governance, accountability and cybersecurity.
Hong Kong’s approach
Against this backdrop of rapid global experimentation, what are we doing in Hong Kong? We are charting our course, leveraging our unique strengths as an international financial centre to stay at the forefront of innovation and keep pace with emerging developments. A few principles are guiding our strategy.
First, under the “one country, two systems” framework, Hong Kong is free to explore financial innovation, including in digital assets. We stand out as a market with consistent, predictable, forward-looking policies and a balanced and trusted regulatory framework. We welcome Web3 innovators and institutions from around the world to develop and scale their businesses here.
At the same time, we recognise that innovation often moves faster than regulation, potentially creating gaps and new risks. We are therefore carefully balancing the promotion of innovation with the need for sound risk management. Our objective is to embrace new technologies while safeguarding investors, consumers and the overall financial stability. The principle of “same activity, same risk, same regulation” continues to underpin the design of our regulatory framework.
Second, we see Web3, blockchain technology and AI as powerful enablers of the real economy, rather than ends in themselves. Our policy focus is therefore on how these technologies can be applied to enhance efficiency, lower costs and support concrete, real-world use cases. Ultimately, our aim is to make financial services more inclusive and accessible, while addressing long-standing pain points in transactions and market operations.
Third, we are committed to pro-innovation regulation. Our regulators operate with a dual mandate: they not only exercise prudent supervision, but also actively facilitate market and product development. Through mechanisms such as regulatory sandboxes, we support experimentation and, in some cases, co-create solutions in close collaboration with innovators and industry participants.
Some latest initiatives
Ladies and gentlemen, with these guiding principles in mind, we are pressing ahead to advance Web3 development in Hong Kong. Let me highlight some of our latest initiatives.
First, on regulation. We continue to enhance Hong Kong’s regulatory framework for digital assets, including the launch of a regulatory regime for stablecoin issuers in August last year. We see stablecoins as a practical tool for addressing the pain points in the real economy, particularly in payments and settlements. In giving out licences, we ensure that licensees have real-world use cases, a credible and sustainable business model, as well as strong regulatory compliance capabilities. Our strategy is moving forward fast, step by step. Therefore, we plan to issue only a small number of stablecoin issuer licences in the first batch in March this year.
Meanwhile, we are also finalising the details of a new licensing regime for digital asset dealers and custodian service providers, with the aim of introducing the relevant legislation this summer. Together with the frameworks already in place, this will ensure that our overall regulatory regime comprehensively covers the key nodes of the digital asset ecosystem.
Second, on product innovation and development. We will regularise the issuance of tokenised green bonds. At the same time, we encourage market innovation and nurture the broader ecosystem. For example, building on the Project Ensemble sandbox, Ensemble TX was launched by the HKMA (Hong Kong Monetary Authority) in November last year. It is a new pilot phase that enables faster, more transparent and more efficient settlement of real-value tokenised transactions.
Looking ahead, as the convergence of AI and blockchain continues to accelerate, the Government and our regulators will work with the industry to foster concrete, high-impact use cases, while ensuring that emerging risks are properly identified, monitored and managed.
Concluding remarks
Ladies and gentlemen, before I close, let me leave you with this message: the Hong Kong SAR Government and our financial regulators fully recognise the need of and are committed to keeping pace with rapid technological change, and building a vibrant digital asset ecosystem here in Hong Kong. We welcome global innovators like you to join us on this journey.
Financial Secretary Paul Chan gave these remarks at Consensus Hong Kong 2026 on February 11.
MOEA Breaks Ground on Advanced Semiconductor R&D Center: Taiwan’s First 12-Inch Pilot Line to Target AI, Silicon Photonics, and Quantum Technology
Source: Republic of China Taiwan
The Ministry of Economic Affairs (MOEA) announced today that the Advanced Semiconductor R&D Center has officially broken ground at the Industrial Technology Research Institute (ITRI) headquarters campus in Hsinchu. Jointly promoted by the MOEA, the National Development Council (NDC), and the National Science and Technology Council (NSTC), the project is supported under the IC Taiwan initiative and will establish the nation’s first 12-inch advanced semiconductor pilot line. Scheduled for completion in December 2027, this R&D center will provide comprehensive services including innovative IC design verification, advanced process development, and localized equipment and material validation. The facility is designed to lower verification barriers for startups and small and medium-sized enterprises (SMEs), effectively bridging the gap between laboratory research and industrial commercialization. By enabling deployment of cutting-edge technologies such as AI chips, silicon photonics, and quantum technologies, the Center will further solidify Taiwan’s leadership within the global semiconductor ecosystem.
Minister of Economic Affairs Kung Ming-hsin noted that Taiwan’s 8.36% economic growth last year was largely driven by semiconductor and AI sectors, with continued positive momentum expected. He emphasized the ministry’s role in providing SMEs with opportunities for small-scale, diversified, and specialized chip prototyping. By integrating new 12-inch R&D capabilities with upgraded 8-inch pilot lines, this R&D center will provide a comprehensive one-stop service platform covering design, manufacturing, packaging, and testing. In addition, it will allow domestic equipment and material suppliers to conduct on-site demonstration and validation, accelerating their integration into international markets and global supply chains. Minister Kung expressed his expectation that this R&D center will expedite the development of a resilient, autonomous, and next-generation semiconductor innovation ecosystem in Taiwan.
According to the Department of Industrial Technology, this R&D center is a key part of a broader national semiconductor infrastructure plan comprising three major pilot lines and a metrology validation laboratory. The 12-inch advanced pilot line represents an investment of NT$3.77 billion and will be Taiwan’s first high-technology semiconductor facility of its kind operated by a research institution. The facility construction is scheduled to be completed in December 2027, with operations commencing in the first quarter of 2028. The pilot line will provide 28-90 nm back-end-of-line (BEOL) process R&D and pilot production services, with the goal of shortening product development cycles by approximately 30%. Supporting forward-looking technologies such as quantum computing, silicon photonics, ASICs, and 3D integration, this R&D center enables domestic firms to complete the full R&D-validation-iteration cycle within Taiwan. Additionally, this R&D center will strengthen supply chain resilience, promote academic collaboration, cultivate high-level technical talent, and establish a comprehensive semiconductor innovation ecosystem for the AI era.
Visite de l’école Saint Jean-Baptiste
Source: Gouvernement de la Nouvelle-Caledonie
En prévision de la rentrée scolaire du lundi 16 février, Alcide Ponga, président du gouvernement et Isabelle Champmoreau, membre du gouvernement en charge de l’enseignement, se rendront à l’école Saint Jean-Baptiste (28, rue Auguste Bénébig – Vallée des Colons) ce vendredi 13 février à 9 heures.
Cette visite s’inscrit dans une démarche de soutien aux équipes de l’enseignement catholique, face à la situation difficile que traverse actuellement le réseau.
DSJ promotes Hong Kong’s common law system and strengths in legal, financial and other professional services in Indonesia
Source: Hong Kong Government special administrative region
DSJ promotes Hong Kong’s common law system and strengths in legal, financial and other professional services in Indonesia
In the morning, Dr Cheung attended the China Conference: Southeast Asia 2026, where he shared insights with political and business communities on how Hong Kong’s unique strengths can help consolidate and develop economic and trade partnerships with fast-growing economies like Indonesia.
Dr Cheung noted that Hong Kong’s distinctive advantages could be highlighted in four aspects. First, “irreplaceable”; Hong Kong serves as an irreplaceable bridge for Indonesian and ASEAN enterprises looking to the market of the Chinese Mainland, and for Chinese companies venturing into Southeast Asia’s markets. Second, “interconnected”; as an international financial centre, Hong Kong is deeply interconnected in financial, legal, and other professional fields, reflecting the international best practice. Third, “innovative”; Hong Kong keeps abreast of innovative policies, supporting the development of different industry sectors. For example, initiatives enabling multinational corporations to relocate their domicile to Hong Kong and enjoy the city’s simple and low tax regime. Fourth, “indispensable”; the common law system is a cornerstone of Hong Kong’s success. With a robust rule of law environment, a bilingual common law system which is internationally compatible as well as clear and transparent laws, Hong Kong is an indispensable international legal hub offering strong and reliable legal support for sophisticated cross-border investments.
Dr Cheung said that Hong Kong stood ready to collaborate with Indonesia and other ASEAN countries by leveraging Hong Kong’s unique advantages to promote shared prosperity across Asia.
During the Conference, Dr Cheung met with the Chargé d’Affaires ad Interim of the Embassy to the People’s Republic of China to the Republic of Indonesia, Mr Zhou Kan. Dr Cheung expressed gratitude to Mr Zhou for his support on the work of the Hong Kong Special Administrative Region Government. Dr Cheung remarked that the Department of Justice had been fully supporting Mainland enterprises in leveraging Hong Kong to go global and rolled out the Hong Kong Professional Services GoGlobal Platform and the “Collection of Success Stories: Hong Kong’s Professional Services Supporting Chinese Mainland Enterprises Going Global” about two months ago. During the visit, Dr Cheung also visited a Mainland-invested enterprise which had leveraged Hong Kong’s professional services to go global successfully in Indonesia. He exchanged views with their senior management on the measures of the Platform in supporting Mainland enterprises.
Dr Cheung also met with the Chairwoman of the Indonesian Employers’ Association, Ms Shinta Widjaja Kamdani. Dr Cheung indicated that Hong Kong enjoyed both China advantages and international advantages under the “one country, two systems” principle. He encouraged Indonesian businesses to leverage the city’s high-quality professional services, including international legal and financial services, to set up regional business headquarters in Hong Kong and to seize new opportunities under the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development.
In addition, Dr Cheung had a luncheon with leaders from the commercial, financial, and innovation and technology sectors in Indonesia and nearby regions to exchange views on how to better facilitate commercial ties and collaboration between Hong Kong and Indonesia.
Before the reception, the Director-General of the HKETO in Jakarta, Miss Libera Cheng, updated Dr Cheung on the HKETO’s work. She said that the establishment of the HKETO in Kuala Lumpur in December 2025 has further strengthened Hong Kong’s relations with ASEAN countries. With Indonesia being ASEAN’s largest economy, the HKETO in Jakarta will continue to enhance promotion work in the region, with a view to fostering bilateral economic, trade and people-to-people ties.
Dr Cheung will visit the China Chamber of Commerce in Indonesia tomorrow (February 11) before concluding his visit and returning to Hong Kong.
Issued at HKT 20:18
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Speech by CE at SCMP China Conference: Southeast Asia 2026 (English only)
Source: Hong Kong Government special administrative region
Following is the video speech by the Chief Executive, Mr John Lee, at the SCMP China Conference: Southeast Asia 2026 today (February 10):
Your Excellency Hashim Djojohadikusumo (Special Envoy of the President of the Republic of Indonesia for Climate and Energy), Honourable Mr C Y Leung (Vice-Chairman of the National Committee of the Chinese People’s Political Consultative Conference), Ms Tammy Tam (Publisher of the South China Morning Post), distinguished guests, officials and friends from Indonesia, ladies and gentlemen,
Two illegal workers jailed
Source: Hong Kong Government special administrative region
Two illegal workers jailed
During an anti-illegal worker operation conducted by the Immigration Department (ImmD) on March 4, 2025, investigators raided an industrial building in Kwai Chung. Two Filipino men, aged 42 and 45, were arrested while loading goods. Upon identity checking, they produced for inspection recognisance forms issued by the ImmD, which prohibit them from taking employment. Further investigation revealed that they were non-refoulement claimants.
The illegal workers were charged at the Shatin Magistrates’ Courts yesterday with taking employment while being a person in respect of whom a removal order or deportation order was in force. After trial, they were both sentenced to 22 months and 15 days’ imprisonment.
The spokesman warned, “As stipulated in section 38AA of the Immigration Ordinance, an illegal immigrant, a person who is the subject of a removal order or a deportation order, an overstayer or a person who was refused permission to land is prohibited from taking any employment, whether paid or unpaid, or establishing or joining any business. Offenders are liable upon conviction to a maximum fine of $50,000 and up to three years’ imprisonment. As stipulated in section 20(1)(a) of the Immigration Ordinance, the Chief Executive may make a deportation order against an immigrant, prohibiting the immigrant from being in Hong Kong at any time thereafter if the immigrant has been found guilty in Hong Kong of an offence punishable by imprisonment for not less than two years.”
The spokesman stressed that it is a serious offence to employ people who are not lawfully employable. Under the Immigration Ordinance, the maximum penalty for an employer employing a person who is not lawfully employable, i.e. an illegal immigrant, a person who is the subject of a removal order or a deportation order, an overstayer or a person who was refused permission to land, has been significantly increased from a fine of $350,000 and three years’ imprisonment to a fine of $500,000 and 10 years’ imprisonment to reflect the gravity of such offences. The director, manager, secretary, partner, etc, of the company concerned may also bear criminal liability. The High Court has laid down sentencing guidelines that the employer of an illegal worker should be given an immediate custodial sentence.
According to the court sentencing, employers must take all practicable steps to determine whether a person is lawfully employable prior to employment. Apart from inspecting a prospective employee’s identity card, the employer has the explicit duty to make enquiries regarding the person and ensure that the answers would not cast any reasonable doubt concerning the lawful employability of the person. The court will not accept failure to do so as a defence in proceedings. It is also an offence if an employer fails to inspect the job seeker’s valid travel document if the job seeker does not have a Hong Kong permanent identity card. Offenders are liable upon conviction to a maximum fine of $150,000 and to imprisonment for one year. In that connection, the spokesman would like to remind all employers not to defy the law by employing illegal workers. The ImmD will continue to take resolute enforcement action to combat such offences.
Under the existing mechanism, the ImmD will, as a standard procedure, conduct an initial screening of vulnerable persons, including illegal workers, illegal immigrants, sex workers and foreign domestic helpers, who are arrested during any operation with a view to ascertaining whether they are trafficking in persons (TIP) and/or forced labour victims. When any TIP and/or forced labour indicator is revealed in the initial screening, the ImmD officers will conduct a full debriefing and identification by using a standardised checklist to ascertain the presence of TIP and/or forced labour elements. Identified TIP and/or forced labour victims will be provided with various forms of support and assistance, including urgent intervention, medical services, counselling, shelter or temporary accommodation and other supporting services. The ImmD calls on TIP and/or forced labour victims to report crimes to the relevant departments immediately.
Issued at HKT 18:55
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