Month: March 2026

Posted on

Sandy Ridge site sold

Source: Hong Kong Information Services

The Innovation, Technology & Industry Bureau today announced that the Sandy Ridge Data Facility Cluster site, with a total area of over 110,000 sq m, has been awarded to Hong Kong Range Intelligent Computing Technology Company for developing into an advanced data facility cluster for data centres and related industries on a 50-year land grant at a premium of $581 million.

The bureau said the parent companies of the successful tenderer are Hong Kong Range Intelligent Computing Technology Development Company and Sengro Fusion Technology Hong Kong, with the ultimate holding company being Range Intelligent Computing Technology Group Company (the Group).

At a media session this afternoon, Secretary for Innovation, Technology & Industry Prof Sun Dong said the Group has extensive experience in developing high-tier data centres and has developed and operated high-tier data centres facilities and large-scale dataport projects in multiple cities on the Mainland.

The site is located at Lot No. 953 in Demarcation District No. 89 at Sandy Ridge, North District, New Territories.

The bureau pointed out that a two-envelope approach was adopted in the tender assessment to enable a comprehensive evaluation of both non-premium and premium proposals with a view to selecting the proposal that best unleashes the site’s potential.

In the tender evaluation, a weighting of 70% was allocated to the non-premium proposal, and 30% to the premium proposal. The tender must comply with the requirements on both non-premium and premium aspects as specified in the tender documents.

The bureau said one tender was received. The Tender Assessment Panel assessed the tender in accordance with the criteria set out in the tender documents and confirmed the successful tenderer met the requirements in both the non-premium and the premium proposals.

The premium proposal of the tender is $581 million and the successful tenderer expects to commence operations within 42 months, with an estimated cumulative investment of $23.8 billion from the development to the operation in the first three years.

Other key aspects of the cluster to be developed by the successful tenderer include having 88% of the floor area among the 250,000 sq m-total gross floor area dedicated to high-tier data centre use.

In addition, the site is estimated to generate an economic output of about $4.6 billion and create around 180 skilled positions in the first three years of operation.

The site will also significantly expand Hong Kong’s digital and computing power infrastructure, with an expected provision of 180,000 peta-floating point operations per second computing power by 2032, equivalent to 36 times the current computing power in the city.

The enhanced computing power will accelerate the development of the artificial intelligence (AI) industry, promote scientific breakthroughs, and drive the widespread application of AI technology in industry and society.

Prof Sun made it clear that the Government will closely monitor the project’s progress according to the service deed to ensure that the tender commitments are delivered as scheduled and with the required quality.

Meanwhile, the bureau noted that the cluster will provide crucial support for the development of AI in Hong Kong with essential elements such as data and computing power, deepening Hong Kong’s leading advantage in regional digital infrastructure and cross-boundary data flow, promoting the development of the digital economy and smart city as well as making an active contribution to the country’s high-quality development and the “AI+” initiative.

Posted on

Global Talent Summit Week set

Source: Hong Kong Information Services

Hong Kong Talent Engage’s (HKTE) Global Talent Summit Week will be held in mid-March, including the International Talent Forum and the CareerConnect Expo, to further highlight Hong Kong’s role and advantages as an international talent hub and the country’s gateway for talent.

Secretary for Labour & Welfare Chris Sun stated that at a pivotal moment of rapid transformation in the global talent ecosystem, the event aims to explore forward-looking perspectives on talent development, policies and opportunities, while aligning with the country’s development, thereby building Hong Kong into an international hub for high-calibre talent.

The key activities, the International Talent Forum and the CareerConnect Expo, will be held on March 18 and 19.

The forum, under the theme “Connecting Global Minds”, will bring together top leaders from government, business and academia from Hong Kong and abroad to discuss future trends and strategies in the manpower landscape. The opening day of the forum will feature a keynote speech by Prof Christopher A Pissarides, the 2010 Nobel Laureate in Economic Sciences.

The two-day expo will feature thematic zones and bring together about 70 large enterprises, education and technology institutions, and government departments, enabling participants with the latest industry insights and diversified support services.

This year’s event connects international, Chinese Mainland and local partners to co-organise a week-long series of nine satellite events on talent and human resources, including regional conferences, recruitment fairs and corporate award ceremonies.

During the period, HKTE will sign a collaboration agreement with Junior Chamber International to deepen international promotional co-operation and tell good stories of Hong Kong.

Participation in the forum will be by invitation only. HKTE will arrange live broadcasting.

The expo will be held from 10am to 5.30pm at the Convention & Exhibition Centre, with free admission. Participants can pre-register online.

Posted on

Hong Kong Monetary Authority, Shanghai Data Bureau, and National Technology Innovation Center for Blockchain sign MOU to strengthen Shanghai-Hong Kong co-operation in digitised cargo trade and finance

Source: Hong Kong Government special administrative region

Hong Kong Monetary Authority, Shanghai Data Bureau, and National Technology Innovation Center for Blockchain sign MOU to strengthen Shanghai-Hong Kong co-operation in digitised cargo trade and finance (with photo)      
     Under the MOU, the HKMA, the SDB, and the NTICBC will jointly conduct research on digital technology and its applications, and promote the innovative application of the technology in areas such as cargo trade and finance. The parties will work together to examine the use of digital technology to develop a “cross-border platform”. Through this platform, cross-border financial co-operation and the use of electronic bills of lading (eBL) will be explored under Project Ensemble, while the facilitation of trade finance through cargo and trade data will be studied via connection with the Commercial Data Interchange (CDI) and CargoX.
      
     Deputy Chief Executive of the HKMA Mr Howard Lee said, “We are pleased to sign the MOU with the SDB and the NTICBC. This marks an important milestone in the collaboration on financial innovation between Shanghai and Hong Kong, and underscores the joint commitment to strengthen the collaboration between the two jurisdictions in areas of digitised cargo trade and finance. We look forward to driving innovative application of digital technology in areas such as cargo trade and finance, promoting joint achievements in digital innovation, exploring a digital infrastructure that links Shanghai and Hong Kong, promoting digitalisation of trade finance, as well as facilitating the integration of cargo and trade data in the Chinese Mainland with the international data ecosystem through Hong Kong.”
      
     The Director of SDB, Dr Shao Jun, said, “The joint signing of the MOU with the HKMA and the NTICBC marks a significant step towards deepening co-operation between Shanghai and Hong Kong on data. We remain committed to data-powered and innovation-driven development, striving to establish a secure, efficient, and open digital infrastructure. This collaboration will fully leverage Shanghai’s strengths in data integration and commercialisation, working in tandem with Hong Kong to realise innovative applications in digitised cargo trade, and finance. We also look forward to showcasing a range of innovation outcomes through close co-operation, thereby injecting new momentum into Shanghai-Hong Kong digital collaboration.”
Issued at HKT 14:30

NNNN

Posted on

Hong Kong and Kyrgyz Republic enter into tax pact

Source: Hong Kong Government special administrative region

Hong Kong and Kyrgyz Republic enter into tax pact       
     Mr Hui said, “As stated in the newly announced 2026-27 Budget, we will further expand our CDTA network. This CDTA with the Kyrgyz Republic is the 56th that Hong Kong has concluded, signifying the ongoing achievements of the HKSAR Government’s continuous efforts. We will continue to actively seek to sign CDTAs with more tax jurisdictions to enhance the attractiveness of Hong Kong as a business and investment hub and consolidate the city’s status as an international economic and trade centre.”
      
     At the meeting, Mr Hui presented to Mr Sydykov the advantages of Hong Kong as an international financial centre and its latest developments, including the efforts made to establish Hong Kong as a regional gold reserve hub.
      
     Mr Hui added, “This CDTA sets out the allocation of taxing rights between Hong Kong and the Kyrgyz Republic, which will enable investors to better assess their potential tax liabilities from cross-border economic activities and avoid double taxation. This will create a more attractive business environment for promoting bilateral trade and investment.”
      
     In accordance with this CDTA, any tax paid by Hong Kong residents in the Kyrgyz Republic will be allowed as a credit against the tax payable in Hong Kong in respect of the same income in accordance with the provisions of the Inland Revenue Ordinance (Cap. 112) (IRO). In addition, if a Hong Kong company holds at least 20 per cent of the share capital of the dividend-paying company, the Kyrgyz Republic’s withholding tax rate on such dividends, currently at up to 10 per cent, will be reduced to 5 per cent; while the maximum withholding tax rate on interest and royalties received by Hong Kong residents, currently at 10 per cent, will be reduced to 8 per cent.
      
     This CDTA will come into force after completion of ratification procedures by both sides. In Hong Kong, the Chief Executive in Council will make an order under the IRO, which will be tabled at the Legislative Council for negative vetting. Details of the CDTA are available on the Inland Revenue Department websiteIssued at HKT 13:37

NNNN

Posted on

Two-year milestone: New Capital Investment Entrant Scheme attracts nearly 3 200 applications with expected investment of about HK$95 billion, reflecting global confidence in Hong Kong

Source: Hong Kong Government special administrative region

Two-year milestone: New Capital Investment Entrant Scheme attracts nearly 3 200 applications with expected investment of about HK$95 billion, reflecting global confidence in Hong Kong  

      For applications verified by InvestHK as meeting investment requirements as at February 28, 2026, the investment capital distribution is as follows:
 

Permissible investment assets      
     The Director of Immigration, Mr Benson Kwok, stated: “Hong Kong has been actively implementing a diverse range of talent admission schemes, and we are pleased to see the positive market response to the New CIES. Together with other admission schemes, these programmes work in synergy to attract talent and capital from around the world, supporting Hong Kong’s sustainable development and long-term competitiveness.”     ​
     Over the past year, InvestHK has pursued a comprehensive promotion strategy, publishing feature articles in key markets across Asia, the Middle East, Europe, and the Americas, as well as in local media. The department has also leveraged social media platforms to disseminate information and promote the New CIES. In addition, InvestHK has actively broadened its promotional outreach through overseas visits, investor conferences, and organising briefings in collaboration with chambers of commerce, industry associations, professional bodies, and network of family office service providers.
      
     For more information about the New CIES, please visit www.newcies.gov.hkIssued at HKT 9:00

NNNN

Posted on

Sydney ETO promotes Hong Kong’s energy and cultural vitality at Sydney Lunar New Year Dragon Boat Festival

Source: Hong Kong Government special administrative region

Sydney ETO promotes Hong Kong’s energy and cultural vitality at Sydney Lunar New Year Dragon Boat Festival  
     Over 2 000 paddlers powered through the waters in thrilling races during the two-day event in Darling Harbour. The Sydney ETO organised a Hong Kong team to compete in the Corporate Category and the Government Industry Challenge on March 1. This year’s marquee races included the Hong Kong Talent Cup, Hong Kong Opportunity Cup, Hong Kong Dynamic Cup, and Hong Kong Connect Cup, with medals presented by the Director of the Sydney ETO, Mr Ricky Chong.
 
     During the awards presentation, Mr Chong highlighted the significance of the Sydney Lunar New Year Dragon Boat Festival as a vibrant cultural event in Sydney. He noted that dragon boat racing is a Chinese tradition and sporting event with over 2 000 years of history, which has developed into an international sport that represents teamwork, endurance, and community spirit. He further emphasised the importance of community gatherings during Chinese New Year and the positive role such events play in strengthening Hong Kong-Australia relations.
 
     The Sydney ETO set up a marquee during the Dragon Boat Festival to showcase Hong Kong’s latest developments, major city events, and talent-attraction initiatives, giving visitors a firsthand experience of the city’s innovation, culture, and excitement. Souvenirs distributed at the marquee and Hong Kong-themed banners added to the festive atmosphere, highlighting the city’s dynamic culture and celebratory spirit.
 
     The Sydney Lunar Festival, organised by the City of Sydney, is one of the largest celebrations of Chinese New Year outside Asia. This year the festival is held from February 14 to March 1, featuring an array of programmes including lion dancing, lantern displays, and cultural performances, as well as jet pack and firework shows.
 
     The Sydney Lunar New Year Dragon Boat Festival, the biggest event of its kind in the southern hemisphere, was a highlight of the Sydney Lunar Festival, attracting tens of thousands of spectators.
 
     ​The Sydney ETO also displayed Hong Kong-themed street banners with Chinese New Year greetings at major locations across Sydney during the festive period.
Issued at HKT 16:55

NNNN

Posted on

Government announces tender result for Sandy Ridge site

Source: Hong Kong Government special administrative region

Government announces tender result for Sandy Ridge site 
     A two-envelope approach was adopted in the tender assessment for the Sandy Ridge Data Facility Cluster site to enable a comprehensive evaluation of both non-premium and premium proposals with a view to selecting the proposal that best unleashes the site’s potential. In the tender evaluation, a weighting of 70 per cent was allocated to the non-premium proposal, and 30 per cent to the premium proposal. The tender must comply with the requirements on both non-premium and premium aspects as specified in the tender documents.
 
     The Tender Assessment Panel assessed the tender in accordance with the criteria set out in the tender documents and confirmed the successful tenderer met the requirements in both the non-premium (such as the tenderer’s contribution to Hong Kong in terms of investment and industrial development) and the premium proposals. The premium proposal of the tender is $581 million, and the successful tenderer expects to commence operations within 42 months, with an estimated cumulative investment of $23.8 billion from the development to the operation in the first three years. Other key aspects of the Sandy Ridge Data Facility Cluster to be developed by the successful tenderer include:

(1) A total gross floor area of 250 000 sq m, of which about 90 per cent (88 per cent) of the floor area will be dedicated to high-tier data centre use. 
     Since the 2023 Policy Address announced the rezoning of the Sandy Ridge site for innovation and technology and related uses, the ITIB has been taking forward the plan of developing the Sandy Ridge site into a data facility cluster and for related industry uses. Subsequently, the ITIB and the Digital Policy Office solicited expressions of interest in 2024 for the use of the Sandy Ridge site as a data centre, and requested further information from the industry in 2025. After gaining a deep understanding of the industry’s interests and considerations for the development of the site, the tender was launched in the fourth quarter of 2025, inviting the industry to lead the development and operation, provide advanced computing power facilities, and promote the development of data and AI-related industries. One tender was received in this exercise.
 
     The Sandy Ridge Data Facility Cluster is located in the Northern Metropolis, a core area of the Hong Kong-Shenzhen Boundary Control Points Economic Belt, and is well-positioned to attract resources such as technology and talent from both Hong Kong, Shenzhen and other parts of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), facilitating the aggregation of Chinese data from around the world and the development of related industries, forming an industrial cluster effect and driving the vigorous development of data and AI industries across the GBA.
 
     A spokesperson for the ITIB said, “The Sandy Ridge Data Facility Cluster will provide crucial support for the development of AI in Hong Kong with essential elements such as data and computing power, deepening Hong Kong’s leading advantage in regional digital infrastructure and cross-boundary data flow, promoting the development of the digital economy and smart city, as well as making an active contribution to the country’s high-quality development and the ‘AI+’ initiative.”
Issued at HKT 17:38

NNNN

Posted on

Man sentenced to two months’ imprisonment for illegally importing alternative smoking products

Source: Hong Kong Government special administrative region

Man sentenced to two months’ imprisonment for illegally importing alternative smoking products           
     The Tobacco and Alcohol Control Office (TACO) of the DH was notified by Hong Kong Customs on February 28 that 32 000 heat sticks and 40 heated tobacco devices had been intercepted in the luggage of the aforesaid man arriving from Japan. TACO immediately arrested and prosecuted the individual.
      
     Since the amendments to the Tobacco Control Legislation (Amendment) Ordinance 2025, which conferred arrest powers on TACO inspectors, took effect on September 19, 2025, TACO has prosecuted 16 cases involving importation of large quantities of alternative smoking products. Eighteen persons have been convicted and sentenced to prison terms ranging from two to six months.
      
     According to the Import and Export Ordinance (Cap. 60), a person who imports alternative smoking products, including electronic smoking products, heated tobacco products and herbal cigarettes, commits an offence and is liable on summary conviction to a fine of $500,000 and imprisonment for two years; or liable on conviction on indictment to a fine of $2 million and imprisonment for seven years.
      
     Under the Smoking (Public Health) Ordinance (Cap. 371), no person may promote, manufacture, sell, or possess for commercial purposes alternative smoking products. An offender is liable to a fine of $50,000 and imprisonment for six months.
      
     TACO will continue to closely monitor and enforce the law to combat related offences.
      
     In addition, the DH also cautions the public that alternative smoking products are addictive and are not effective smoking cessation tools. E-cigarettes may increase the risk of cancer, respiratory diseases, and cardiovascular diseases. Smokers are urged to quit smoking as early as possible for their own health and that of others. For assistance, please call the DH’s Integrated Smoking Cessation Hotline on 1833 183, and or visit www.livetobaccofree.hkIssued at HKT 16:30

NNNN

Posted on

Hong Kong Customs reminds non-local jewellery exhibitors about statutory requirement to submit cash transaction report under Dealers in Precious Metals and Stones Regulatory Regime

Source: Hong Kong Government special administrative region

Hong Kong Customs reminds non-local jewellery exhibitors about statutory requirement to submit cash transaction report under Dealers in Precious Metals and Stones Regulatory Regime                
     Non-Hong Kong dealers can also download the related form at www.drs.customs.gov.hk/download/drsform/CED418_Form%208_Cash%20transaction%20report.pdf                
     Dealers can visit the website (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.htmlIssued at HKT 16:25

NNNN