Month: March 2026

LCQ21: Promoting cross-boundary carbon trading and settlement 
Question:
 
     In December 2025, the Central Economic Work Conference included “following the dual-carbon goals and driving a comprehensive green transition” in the eight key tasks to be pursued for the economic work in 2026. The carbon market is an important tool that utilises market mechanisms to address climate change and promote green and low-carbon development, and the international carbon trading platform Core Climate launched by the Hong Kong Exchanges and Clearing Limited (HKEX) in 2022 (Core Climate) is the world’s only carbon marketplace offering settlement in both Hong Kong dollars and Renminbi for international voluntary carbon credits at present. In this connection, will the Government inform this Council:
 
(1) whether it knows the respective annual numbers of transactions, transaction volume and transaction value of the Core Climate platform since its establishment;
 
(2) whether the Government will discuss with HKEX the introduction of blockchain technology to the listing and trading processes of carbon credits on the Core Climate platform, so as to leverage blockchain technology’s characteristics of immutability, traceability, transparency and security to avoid double counting and reduce transaction costs;
 
(3) in addition to introducing international carbon credits to the Core Climate platform, whether the Government will support HKEX in developing local “carbon avoidance” (e.g. energy efficiency enhancement and the use of alternative clean energy) and “carbon removal” (e.g. direct air carbon capture) projects to generate more local carbon credits and enrich buyers’ choices; if so, of the details; if not, the reasons for that;
 
(4) whether the Government will motivate HKEX to establish mutual access and assurance standard alignment mechanisms between the Core Climate platform and the “National Voluntary Greenhouse Gas Emission Reduction Trading Market” to enhance the liquidity of the Core Climate platform, promote cross-boundary carbon trading and settlement, and facilitate the internationalisation of the Mainland carbon market; if so, of the details; if not, the reasons for that; and
 
(5) given that HKEX signed a Memorandum of Understanding with Guangzhou Emissions Exchange, Shenzhen Green Exchange and Macao International Carbon Emission Exchange in September 2025, whether the Government will, under this co-operation framework, expeditiously explore with HKEX the joint establishment of a unified carbon trading platform in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), and formulate comprehensive and unified assurance standards and pricing, trading and assurance rules to enhance the overall liquidity and influence of the GBA carbon market; if so, of the progress; if not, the reasons for that?
 
Reply:
 
President,
 
     The National 15th Five-Year Plan outlines the acceleration of comprehensive green transformation and the orderly advancement of innovation in carbon finance products and derivatives. The Hong Kong Exchanges and Clearing Limited (HKEX) launched an international carbon marketplace Core Climate in October 2022, offering dual-currency settlement services in Hong Kong dollars and Renminbi for the trading of international voluntary carbon credits. It aims to establish Hong Kong as an international carbon market to connect opportunities across the Mainland, Asia, and the rest of the world, with a view to enhancing green development momentum and assisting in promoting global net-zero transition.
 
     In consultation with the HKEX and the Hong Kong Monetary Authority (HKMA), my reply to the five parts of the question is as follows:
 
(1) As of March 2026, Core Climate’s cumulative carbon credit transaction volume has exceeded 1 million tonnes, with over 130 registered participants. Since the carbon projects and carbon credits traded and settled through Core Climate are diverse in nature and have a very wide price range, with sensitive commercial information involved, relevant nominal volumes or information of the transactions cannot be disclosed. However, it can be noted that Core Climate participants include large corporations. For example, Cathay Pacific settled 50 000 tonnes of voluntary carbon credits through Core Climate in December 2024, demonstrating Core Climate’s ability in assisting companies to achieve their sustainability goals.
 
(2) Actively exploring the application of financial technology is a crucial part of promoting the innovative development of carbon credit products. To this end, in 2025, the HKMA and the HKEX successfully completed the testing of a tokenised carbon credit transaction use case under Project Ensemble, with a view to leveraging emerging technologies such as blockchain to facilitate cross-boundary transactions and improve the transparency and efficiency of carbon credit traceability. The HKMA and the HKEX will publish a report on the testing results in due course, summarising the findings and hoping to provide valuable experience and solid foundation for future financial innovation products for promoting low-carbon economy.
 
(3) Since its launch in 2022, Core Climate has continuously expanded its product range. By the end of 2025, the number of carbon reduction projects on the platform had increased to over 60, including forestry, solar, wind, and biomass projects in Asia, South America, and Africa. In addition to Verified Carbon Standard (VCS) from Verra, the HKEX incorporated Gold Standard Verified Emission Reductions (GS-VER) into Core Climate in August 2024, further diversifying the scope of tradable climate projects. The HKEX will continue to actively expand relevant products and services to support decarbonisation locally, regionally, and internationally.
 
(4) and (5) Our country is striving to build a more effective, dynamic, and internationally influential national carbon market to promote green and low-carbon transformation and help achieve the goals of carbon peaking and carbon neutrality. To this end, the Hong Kong SAR (Special Administrative Region) Government is actively working with relevant Mainland regulatory authorities and institutions to explore assisting our country’s participation in the international carbon market, including the formulation of voluntary carbon credit standards and methods, as well as the registration, trading, and settlement of carbon emission reductions. Leveraging Hong Kong’s advantages of enjoying our nation’s strong support and being closely connected to the world, the Government aims to serve our country’s dual-carbon strategy and help build a carbon market which is well integrated with the international market.
 
     Besides, the HKEX signed a Memorandum of Understanding (MOU) in September 2025 with the Guangzhou Emissions Exchange, Shenzhen Green Exchange and Macao International Carbon Emission Exchange to work together in promoting the development of the carbon markets and green finance ecosystem across the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Under the MOU, the four exchanges will explore new co-operation opportunities in carbon market and green finance, and facilitate experience exchange and knowledge sharing in order to enhance the professional capabilities of relevant institutions and personnel in carbon market operations and green finance, and promote in-depth development of the regional carbon market. Currently, the HKEX is working closely with carbon exchanges in the GBA to actively explore the testing of cross-boundary carbon trade settlement, with a view to completing the pilot and summarising experience within 2026 to provide reference for our country’s future cross-boundary carbon trading.
Issued at HKT 12:35

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LCQ2: Supporting sustainable development of securities industry 
Question:
 
     There are views that with the securities industry (especially small and medium securities dealers) facing the pressure of persistently increasing compliance and operating costs in recent years, the Government should introduce targeted support policies to assist small and medium securities dealers in adapting to and meeting new requirements, as well as enhancing their competitiveness. In this connection, will the Government inform this Council:
 
(1) to assist the securities industry in smoothly implementing the uncertificated securities market regime to be launched within this year, whether the Government will consider introducing funding schemes for securities dealers (especially small and medium securities dealers), so as to support the upgrading of the overall industry; if not, of the means by which the Government will assist securities dealers in catering for the relevant requirements of the regime;
 
(2) it is learnt that over the past years, securities dealers have incurred additional operating costs due to their custody of large quantities of delisted company stocks, how the authorities will assist such securities dealers in handling the issue of custody of delisted company stocks; and
 
(3) whether it will explore the setting up of a dedicated fund to provide funding support for the system upgrades undertaken by the securities industry to meet the new requirements, thereby mitigating their compliance costs; if not, of the reasons for that?
 
Reply:
 
President,
 
     With Hong Kong being an international financial centre, the Government has all along been driving the Securities and Futures Commission (SFC) and the Hong Kong Exchanges and Clearing Limited (HKEX) to leverage the unique advantages under “one country, two systems” to pursue reforms in different aspects of the securities market, introducing various enhancements to the listing regime and promoting high-quality development of the market.
 
     Driven by a series of reforms, Hong Kong’s primary market welcomed 119 newly listed companies in 2025, with initial public offering funds raised exceeding HK$286.9 billion, ranking first globally. In the first two months of this year, 24 companies were newly listed, more than doubling the number in the same period last year. The average daily turnover in 2025 was HK$249.8 billion, representing a 90 per cent increase over 2024. In the first two months of this year, the average daily turnover was HK$260.9 billion, up 17 per cent year-on-year. While the stock market is buoyant, we must not rest on our laurels. We must continue to seek breakthroughs to enhance the efficiency and competitiveness of Hong Kong’s securities market.
 
     In consultation with the SFC and the HKEX, my reply to the three parts of the question is as follows:
 
(1) The uncertificated securities market (USM) regime seeks to dispense with the need to use paper documents to evidence and transfer legal title to securities. By reducing reliance on paper and manual processes, it will facilitate straight‑through processing and strengthen the efficiency and competitiveness of Hong Kong’s securities market. Under the USM regime, the existing nominee structure in the Central Clearing and Settlement System will be retained. This will preserve investors’ choice of holding securities through brokers, maintain the current role of brokers, and reduce the impact on their existing operating models.
 
     Following multiple rounds of extensive public consultation, the Legislative Council passed in 2021 the Securities and Futures and Companies Legislation (Amendment) Ordinance 2021, which sets out the principal legal framework for the regime. Six pieces of subsidiary legislation providing for the detailed arrangements of the regime were also made in 2025 under the negative vetting procedure of the Legislative Council. In the 2026-27 Budget, the Financial Secretary indicated that the Government, together with the SFC and the HKEX, will work with the industry to implement the regime within the year.
 
     The SFC and the HKEX have been maintaining close communication with the industry on the implementation of the USM regime. A number of measures are already in place to assist stakeholders, including brokers, in making a smooth transition. These include:
 
(i) The USM adopts a phased implementation strategy, under which prescribed securities will gradually become participating securities by batches within five years from the commencement date. This will ensure market readiness, steady inclusion, and uninterrupted daily operations.
 
(ii) As the existing nominee structure will be retained, many current processes will remain unchanged, with manual and paper‑based procedures progressively replaced by electronic processes. From the brokers’ perspective, the main changes will be the process in the deposit and withdrawal of securities. These will be achieved through the HKEX’s system enhancements, while the system changes required of brokers will be relatively limited, facilitating a smoother transition to the USM regime by the industry.
 
(iii) The SFC and the HKEX have been working closely to provide brokers with sufficient information and technical support. The HKEX published information papers in 2024 and 2025 setting out detailed technical guidance for market participants including brokers, and organised three briefing sessions to familiarise brokers with the relevant processes and facilitate their preparations together with eight seminars and continuing training courses held by market stakeholders. The HKEX will continue to provide updated information and organise briefing sessions, and will also arrange market rehearsals to enable market participants to familiarise themselves with the operation of the upgraded infrastructure and operational procedures.
 
(iv) To help the market better understand and adapt to the new regime, the SFC and the industry will jointly conduct investor education, including further enhancements to the dedicated website providing one-stop information and a series of frequently asked questions. Publicity efforts on different fronts will be strengthened including through videos and briefing sessions to help investors understand the operation of the new mechanism and the steps for participation, thereby raising investor awareness and reducing brokers’ workload.
 
     As certain existing fees will no longer be applicable under the USM regime, the HKEX will adjust its fee structure to make it simpler, more direct and predictable, and more aligned with the fee models of other major markets. This will ensure that market’s operating costs are commensurate with digitalised operations and support sustainable market development. After extensive consultation with the industry, the HKEX has made multiple adjustments to the fees to minimise the financial burden on small brokers, including (i) raising the threshold for the lowest membership fee rate tier to cover more small brokers; (ii) lowering the membership fee rate for relevant brokers; (iii) granting a one-year waiver of membership fee for small brokers; and (iv) adjusting the stock custody fee rate. According to the HKEX’s assessment, about 88 per cent of small brokers (i.e. Category C brokers) will pay lower relevant fees in the first year of USM implementation compared with before. From the second year onwards, about 65 per cent of small brokers will continue to pay lower fees.
 
(2) The Government is aware that brokers may incur costs in relation to the custody of shares of delisted companies. The 2026-27 Budget has indicated that the Government will continue to explore with the market the provision of an over-the-counter (OTC) trading platform for delisted stocks or those requiring special handling. The SFC and the HKEX have previously conducted preliminary consultation with market participants, and heard diverse views from the market. On the one hand, some consider that an OTC trading platform would provide shareholders of delisted companies with an exit opportunity, and that retail investors should be allowed to participate with market makers introduced to address liquidity concerns. On the other hand, some believe that if the platform only allows shareholders of delisted companies to sell their shares, the volume would be insufficient to sustain an OTC market. In addition, the fundamental conditions of relevant companies may lack transparency and make comprehensive assessment difficult, so retail investors may bear higher risks while the attractiveness to institutional investors would be limited. Whether the platform can provide brokers with a channel to dispose of such shares therefore remains uncertain. The HKEX will continue to consolidate views from different stakeholders and announce specific arrangements in due course, followed by further market consultation.
 
(3) With the buoyant stock market, we are pleased to see an increase in brokers’ revenue. According to the latest Financial Review of the Securities Industry published by the SFC, Hong Kong’s securities industry maintained steady growth in the first half of 2025, with net profit rising by 14 per cent to HK$28.9 billion compared with the preceding six months, driven by increasing trading volume. Notably, the aggregate net profit of exchange participants totalled HK$15.6 billion, up 34 per cent compared with the preceding six months, while Category C brokers’ net profit doubled to HK$2.5 billion. Trading volume continued to grow in the second half of 2025 and the first two months of this year, and we expect that brokers’ revenues and profits may continue to rise. The Government will continue to monitor brokers’ operating conditions and maintain close communication with the industry.
 
     The Government understands that whenever new measures are introduced, the industry may have certain concerns, as was the case with the trading arrangements under severe weather implemented in 2024. Experience has shown that with comprehensive and candid communication, concerted efforts, and thorough preparation, we can successfully implement the USM regime together, thereby enhancing the overall efficiency and competitiveness of Hong Kong’s securities market and benefiting the development of the securities industry.
 
     Thank you, President.
Issued at HKT 12:30

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LCQ18: Review of the bus-only lane arrangement on Tuen Mun Road 
Question:
 
     The Transport Department’s arrangement of designating a bus-only lane (BOL) on Tuen Mun Road (TMR) between So Kwun Wat and Sham Tseng Interchange (TMRBOL) has been in place for over 30 years. Some members of the public have relayed that, following the commissioning of the Tuen Mun-Chek Lap Kok Tunnel in December 2020 and the Government’s takeover of the Tai Lam Tunnel in May 2025, the authorities should review the overall traffic conditions on TMR and make adjustments accordingly. In this connection, will the Government inform this Council:
 
(1) given that in its reply to a question raised by a Member of this Council on June 4, 2025, the Government indicated that in light of changes in traffic flow and bus operation of TMR after the implementation of new toll plans at the Tai Lam Tunnel, the Transport Department would review the arrangement of TMRBOL in a timely manner, of the current progress of the review (e.g. whether the length and operating hours of the BOL will be shortened), and whether it has plans to conduct a comprehensive review of the overall traffic conditions on TMR; if so, of the specific plans; if not, the reasons for that;
 
(2) as the current design of TMRBOL is inconsistent with those in other districts in Hong Kong (e.g. on major roads such as Nathan Road and Hennessy Road) (generally speaking, where a road exit is located outside a BOL, continuous broken lines or arrow markings are usually provided before the exit to facilitate safe lane changes by vehicles), whether the authorities will review the design of the roads associated with TMRBOL and add continuous broken lines or arrow markings to accommodate the needs of drivers heading to Siu Lam and Sham Tseng; if so, of the specific plans; if not, the reasons for that; and
 
(3) as some members of the public have relayed that the authorities’ arrangement of BOLs in various locations across the territory has caused impacts on other lanes of the same road sections and adjoining roads, leading to traffic congestion or tailbacks, whether the authorities will conduct a study on the impact of BOLs in various districts on traffic and adjust the arrangement of BOLs across the territory in light of the actual circumstances; if so, of the specific plans; if not, the reasons for that?
 
Reply:
 
President,
       
     Under the policy of giving priority to public transportation, the Transport Department (TD) has implemented Bus-only Lanes (BOLs) to give buses with high carrying capacity priority in road usage. This helps reduce delays caused by traffic congestion and encourages the public to choose convenient public transportation for travel. BOLs (including bus lanes and designated bus gates), as mentioned in the question, are traffic lanes designated for use only by “franchised buses” or by both “franchised and non-franchised buses” during prescribed times. My response to the question raised by Professor the Hon Lau Chi-pang is as follows:
 
(1) Following the Government’s takeover of the Tai Lam Tunnel on May 31, 2025, and the subsequent reduction in tolls, traffic flow through the tunnel has increased. According to preliminary data, and in line with the Government’s expectations, traffic flow on the relevant section of Tuen Mun Road has decreased during weekday peak hours. However, it still exceeds road capacity, resulting in congestion. To balance the needs of different road users and ensure smooth public transport services, the TD considers it necessary to maintain the existing BOL arrangement. Specifically, the left lane of Tuen Mun Road (towards Kowloon), between Harrow International School Hong Kong and the Sham Tseng Interchange, will remain designated as a BOL from 7.30am to 9am (excluding public holidays).
 
(2) The current BOL arrangements help maintain stable travel times and service levels for franchised buses, thereby encouraging more members of the public to use bus services. This, in turn, reduces the use of Tuen Mun Road by other vehicles with lower passenger capacity and helps alleviate heavy traffic congestion on the road.
 
     Outside the designated BOL operating hours, vehicles traveling along Tuen Mun Road towards Kowloon may use the BOL (leftmost lane) and access Castle Peak Road – Tai Lam Section and Sham Tseng Section via Exits 22 and 23, respectively, in accordance with the guidance provided on directional signs and the deceleration lanes before the exits, depending on travel needs. If the morning peak BOL arrangement is cancelled, the operational efficiency of bus services may be affected, and other drivers may be drawn to use Tuen Mun Road during the morning peak, which would further exacerbate congestion. To remind motorists of the BOL arrangements, appropriate road signs have been installed along the road.
 
     As for other BOL locations, such as Nathan Road and Hennessy Road, these junctions are generally more densely concentrated. Taking into account the travel needs of other vehicles and the availability of alternative routes, the length of BOL setups on these roads is typically shorter. Continuous dotted lines or arrow markings are provided at appropriate locations to allow other vehicles to safely merge at relevant junctions, turn into side streets, or access nearby buildings, thereby supporting the operational needs of the road network.
 
(3) The current BOL arrangements across Hong Kong have been designed with careful consideration of actual road and traffic conditions, including road and junction design, the number of traffic lanes, the number and frequency of bus routes, traffic volumes of other vehicles, the availability of alternative routes, and the impact on vehicle movement. The TD will continue to closely monitor the operation of BOLs in all districts, as well as prevailing road and traffic conditions, and will optimise the arrangements as necessary. This ensures an appropriate balance under the policy of giving priority to public transportation, thereby supporting the smooth operation of the transport network.
Issued at HKT 12:15

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LCQ11: Attracting companies located outside Hong Kong to establish operations in Hong Kong 
Question:
 
     According to the 2025 Annual Survey of Companies in Hong Kong with Parent Companies Located outside Hong Kong announced by the Government in January this year, the total number of companies in Hong Kong with parent companies located outside Hong Kong (the Companies) reached 11 070 in 2025, representing an annual increase of 11 per cent, while the number of people employed reached 509 000, recording an annual increase of 3 per cent. In this connection, will the Government inform this Council:
 
(1) as the numbers of the Companies are concentrated in the three traditional pillar industries of the import/export trade, wholesale and retail sector, the financial and banking sector, and the professional, business and education service sector (accounting for approximately 83.5 per cent of the total), how will the Government encourage more companies located outside Hong Kong engaged in emerging industries (such as the innovation and technology industries) to establish operations in Hong Kong, thereby optimising Hong Kong’s current industrial structure;
 
(2) among the Companies, those from the Chinese Mainland account for the largest proportion, followed by companies from the United States and Japan (together accounting for approximately 55.9 per cent of the total), how will the Government attract and encourage more companies located outside Hong Kong from emerging markets (particularly the Middle East and Association of Southeast Asian Nations countries) to establish operations in Hong Kong;
 
(3) as the number of people employed by the Companies has only increased by 3 per cent year on year, how will the Government encourage these companies to hire more local staff; and
 
(4) according to the World Investment Report 2025 published by the United Nations Trade and Development, Hong Kong rose to third globally in terms of foreign direct investment in 2024, of the specific measures to be implemented by the Government in the coming year to maintain Hong Kong’s competitive edge?
 
Reply:
 
President,
 
     The current-term Government is committed to attracting investment and attracting companies outside Hong Kong to establish a presence in Hong Kong. According to the latest “Report on Annual Survey of Companies in Hong Kong with Parent Companies Located outside Hong Kong” conducted by Invest Hong Kong (InvestHK) and the Census and Statistics Department, there were a record high of 11 070 Hong Kong-based companies from the Chinese Mainland and overseas in 2025, representing a year-on-year increase of 11 per cent. The number of people employed reached 509 000, representing a year-on-year increase of 3 per cent. The results of the surveys fully display international business community’s confidence in the business environment of Hong Kong.
 
     In response to the Hon Jonathan Stuart Lamport’s question, my reply is as follows:
 
(1) As an investment promotion agency of the Hong Kong Special Administrative Region Government, InvestHK has been proactively attracting and assisting overseas and Chinese Mainland enterprises to set up or expand their businesses in Hong Kong. In 2025, InvestHK assisted 560 overseas and Chinese Mainland enterprises in setting up or expanding their businesses in Hong Kong, setting a new record high and representing a year-on-year increase of over 4 per cent. The top five sectors of these enterprises are financial services and fintech (117 companies), innovation and technology (115 companies), family offices (80 companies), tourism and hospitality (65 companies), and consumer products (54 companies). It is expected that these enterprises will create more than 10 700 jobs and bring in direct investment of around $69.4 billion in total within the first year of their establishment or expansion. This demonstrates that, in addition to traditional sectors, InvestHK has successfully attracted many enterprises from emerging sectors such as fintech, innovation and technology, and family offices to Hong Kong in recent years.
 
(2) InvestHK has been leveraging its global investment network, including 17 Dedicated Teams for Attracting Businesses And Talents (Dedicated Teams) in the Mainland Offices and overseas Hong Kong Economic and Trade Offices (ETOs), as well as 17 overseas consultant offices, to proactively explore different emerging markets for attracting businesses and investments. Specifically, to expand the markets of the Association of Southeast Asian Nations (ASEAN) and the Middle East, InvestHK has established Dedicated Teams under four ETOs in Jakarta, Bangkok, Singapore and Dubai respectively. A Dedicated Team under the Kuala Lumpur ETO newly established last December is also expected to be set up in the first half of this year to further deepen co-operation in the ASEAN region. In addition, InvestHK set up consultant offices in Cairo, capital of Egypt and Izmir, Türkiye’s third-largest city in 2024-25, with a view to attracting capital and enterprises from high-potential emerging countries in the Middle East and North Africa. These are the third and fourth consultant offices set up by the current-term Government since taking office, following those in Nairobi, Kenya, and Almaty, Kazakhstan. Other consultant offices in emerging markets include Istanbul, Türkiye; Lima, Peru; Santiago, Chile; Rio de Janeiro, Brazil; Mexico City, Mexico; and Mumbai, India. Through the aforesaid global investment network, InvestHK visits various emerging markets (such as ASEAN, Africa, Central Asia, Eastern Europe, South Asia and South America) to meet with different enterprises and investment institutions, and to organise and sponsor a series of investment promotional activities to attract local businesses to Hong Kong.
 
(3) In addition to proactively attracting new enterprises to Hong Kong, InvestHK also places great importance on providing aftercare support services to enterprises assisted by the department and other non-local enterprises (such as assisting in their expansion of new business types, upgrading their Hong Kong offices to function as regional headquarters, setting up physical offices or stores, listing or establishing corporate treasury centres, expanding their overseas business bases, etc.). InvestHK also assists the enterprises to explore and evaluate new growth areas and opportunities ahead and supports them to expand their operations in Hong Kong, thereby creating more local job opportunities.
 
(4) According to the World Investment Report 2025 published by the United Nations Trade and Development, Hong Kong rose to third place globally in terms of foreign direct investment inflows in 2024, confirming Hong Kong’s status as a world-renowned international business and investment hub. The 2025 Policy Address announced several policy initiatives to further strengthen the investment promotion work, including strengthening the support for Chinese Mainland enterprises to go global through Hong Kong. The Commerce and Economic Development Bureau has set up a cross-bureau, cross-departmental and cross-agency Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force) by mobilising Hong Kong offices abroad, including those under InvestHK and the Hong Kong Trade and Development Council as well as the Hong Kong offices on the Chinese Mainland. It also coordinates various bureaux, departments and agencies to proactively encourage Chinese Mainland enterprises to go global via Hong Kong and provide them with customised and comprehensive support services based on their needs. The GoGlobal Task Force will focus on attracting key or strategically valuable Chinese Mainland enterprises to set up businesses in Hong Kong. We will also follow the strategies outlined in Part (2) above to attract and encourage more overseas companies from emerging markets to expand their businesses to Hong Kong and explore the vast Chinese Mainland market, fully leveraging our role as a two-way platform between China and the world.
 
     In addition, the Financial Secretary leads the relevant policy bureaux, departments, and public organisations in formulating packages of preferential policies including land grants, land premiums, financial subsidies, and tax incentives. InvestHK provides support for the relevant policies and will proactively use the preferential policy packages to attract high value-added industries and high-potential enterprises to set up in Hong Kong, thereby promoting high-quality development and bringing economic contributions and employment opportunities to Hong Kong.
 
     Looking ahead, we will step up our efforts to attract direct investment from emerging markets and support Chinese Mainland enterprises to go global via Hong Kong, while consolidating our investment promotion efforts in traditional markets, thereby attracting more non-local companies to set up in Hong Kong.
Issued at HKT 12:05

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LCQ16: Cultivating local young legal talent 
Question:
 
     There are views pointing out that the international law organisation secondment programmes and Belt and Road Visit for young international legal talent, launched jointly by the Office of the Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region and the Department of Justice, can provide a platform and build a ladder for local young legal talent to go global and broaden their international horizons. In this connection, will the Government inform this Council:
 
(1) of the number of young legal talent from Hong Kong who have been seconded to international organisations (including the Hague Conference on Private International Law, the International Institute for the Unification of Private Law, the United Nations Commission on International Trade Law, and the Asian Infrastructure Investment Bank) through the secondment programmes to date;
 
(2) given that the Government has previously indicated that with the International Organization for Mediation (IOMed) establishing its headquarters in Hong Kong, this year’s secondment programmes will be extended to IOMed, whether the Government has formulated a specific roadmap and timetable in this regard; if so, of the details; if not, the reasons for that; and
 
(3) whether the Government will consider establishing a permanent mechanism whereby young legal professionals who have participated in the secondment programmes and Belt and Road Visit will regularly visit local legal service and legal education organisations upon their return to Hong Kong to share their experiences, thereby stimulating the interest of more young legal professionals in overseas secondment programmes and studying overseas law; if so, of the details; if not, the reasons for that?
 
Reply:
 
President,
 
     In response to the enquiry raised by the Hon Wu Ying-peng, the reply is as follows:
 
(1) The Hong Kong Special Administrative Region (HKSAR) has, with the support of the Central Government, made standing secondment arrangements with relevant international organisations. By participating in the work of these international organisations, local legal professionals (including young legal talent) could deepen their understanding of the operation of international organisations and international law. Since the establishment of the relevant arrangements, as of March 2026, a total of 27 local legal professionals from both the public and private sectors have participated in the secondment programmes to the Hague Conference on Private International Law, the International Institute for the Unification of Private Law, the United Nations Commission on International Trade Law and the Asian Infrastructure Investment Bank.
 
(2) The 2026 recruitment exercise for the secondment programmes has commenced in January, with the addition of the secondment programme to the Secretariat of the International Organization for Mediation in Hong Kong. With the support of the Central Government, the Government of the HKSAR will continue to carry forward the secondment programmes steadily, taking into account the prevailing circumstances, in accordance with established procedures and the arrangements reached with the respective international organisations. The Department of Justice (DoJ) will also annually promote the secondment programmes to the legal sector, including putting the latest relevant information on its website for those interested in applying.
 
(3) The Belt and Road Visit for Hong Kong Young International Legal Talents is co-organised by the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the HKSAR (OCMFA) and the Hong Kong International Legal Talents Training Academy of the DoJ. The First Edition of the Visit held last year brought together 16 young international legal talent from the law faculties of three local universities, legal professional bodies and institutions, and the DoJ, during which they visited Beijing and Kashgar in Xinjiang. The Second Edition of the Visit will take place in July this year. The tentative itinerary includes a visit to Yunnan Province in China, followed by a visit to Laos. Participants will engage in exchanges with relevant government departments, legal institutions and organisations, enterprises, and chambers of commerce, and will gain first-hand understanding of the Belt and Road landmark co-operation projects such as the China-Laos Railway.
 
     The DoJ will, based on the existing framework, explore with the OCMFA to regularise the relevant arrangements and arrange young legal talent who have participated in the Belt and Road Visit to share their experiences in local legal services institutions and legal education institutions on a regular basis after returning to Hong Kong. Subject to the available resources and operational feasibility, priority will be given to use the existing platforms and activity frameworks to strengthen the outreach and publicity, for example, by organising exchange activities such as sharing sessions and briefing sessions to motivate young legal professionals to take part in the Belt and Road Visit, deepen their understanding of the country’s overall development, broaden their international perspectives, so that they can better appreciate the significance of the Belt and Road Initiative for China and the countries along the Belt and Road. As mentioned above, the DoJ will also annually promote the secondment programmes to the legal sector to encourage more qualified legal professionals to apply.
Issued at HKT 11:59

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