Month: April 2026

Source: Hong Kong Government special administrative region – 4

​The Agriculture, Fisheries and Conservation Department (AFCD) is investigating two Mainlanders for suspected illegal hookah fishing in the waters off Lung Kwu Chau.

At about 12.30am today (April 22), AFCD officers spotted a vessel in the waters off Lung Kwu Chau equipped with an air compressor, pipes connected to the sea and a spear gun. It is suspected that the unregistered vessel was being used for illegal hookah fishing involving with a spear gun. AFCD officers intercepted the said vessel for investigation, and subsequently seized some fishing gear found on board.

The AFCD is currently investigating two Mainlanders on board for suspected contravention of the Fisheries Protection Ordinance (Cap. 171).

Only a vessel registered under the Ordinance can be used for fishing in Hong Kong waters and only the fishing methods listed on its Certificate of Registration of Local Fishing Vessel can be employed for fishing by the vessel. Offenders are liable to a maximum fine of $100,000 and six months’ imprisonment upon conviction.

An AFCD spokesman said, “The Government is committed to cracking down on illegal fishing activities in Hong Kong waters. The AFCD will maintain close contact with relevant law enforcement departments and step up patrols and stringently enforce the law.”

Source: Hong Kong Government special administrative region – 4

Following is a question by the Hon Chu Lap-wai and a written reply by the Secretary for Commerce and Economic Development, Mr Algernon Yau, in the Legislative Council today (April 22):
 
Question:
 
The National 15th Five-Year Plan further strengthens Hong Kong’s functions as an international financial, shipping, trade centre, a global offshore Renminbi (RMB) business hub, an international asset and wealth management centre, an international risk management centre, etc, while the Belt and Road Office (the Office) plays a crucial role in promoting Hong Kong’s integration into the national development of the Belt and Road Initiative, particularly in promoting our country’s initiatives for internationalisation of the RMB by leveraging Hong Kong’s traditional strengths. In this connection, will the Government inform this Council:
 
(1) according to the information provided by the Government in reply to a question raised by a Member of this Council on the Estimates of Expenditure for the financial year 2025-2026, as at February 28, 2025, the staff establishment of the Office was 19 and the strength was 17; whether the authorities will adjust the Office’s staffing level, its work strategies and objectives in response to the need to align with the National 15th Five-Year Plan; if so, of the details; if not, the reasons for that;
 
(2) of the Office’s specific future work plan in place to promote the wider use of the RMB by the Belt and Road countries for transaction and settlement in infrastructure projects and commodity trade to promote the internationalisation of the RMB; of the number of collaboration agreements concluded with the Belt and Road countries by the Office over the past three years, and among which, the respective distribution of the countries involved and the categories of commodities covered;
 
(3) of the number of economies where importers and exporters settle their trade in the RMB through Hong Kong’s payment system, and the total volume of trade involved; of the specific measures put in place by the Office to encourage more economies to settle their trade in the RMB through Hong Kong’s payment system;
 
(4) given the three successful offerings of sukuk by the Government under the Government Bond Programme, of the authorities’ latest plans to attract the Belt and Road countries to issue bonds in Hong Kong;
 
(5) as there are views that the existing thematic web page of the Office is available in Chinese and English only, which causes inconvenience to people who use other languages, whether the Office will draw reference from our country’s practices of developing the relevant websites and create additional versions of its web page in multiple languages (such as French, Russian, Spanish, and Arabic), so that people from the Belt and Road partner countries can access the information of Hong Kong more easily; if so, of the details; if not, the reasons for that; and
 
(6) whether the authorities have plans to co-ordinate the relevant policy bureaux and departments through the Office to expeditiously review the contents of their respective web pages and information, and provide additional simplified versions of introduction concerning the Belt and Road Initiative in multiple languages as mentioned above, with a view to enhancing promotional effect; if so, of the details; if not, the reasons for that?
 
Reply:
 
President,
 
The Hong Kong Special Administrative Region (HKSAR) Government has been adopting a whole government strategic approach, under which the Belt and Road Office (BRO) of the Commerce and Economic Development Bureau is tasked to lead and co-ordinate Hong Kong’s work on deep participation in and contribution to the Belt and Road Initiative (B&RI), with a view to promoting all-round and multi-field connectivity. Policies and measures related to promoting Renminbi (RMB) internationalisation (including encouraging wider use of the RMB in Belt and Road (B&R) countries) and sukuk are under the Financial Services and the Treasury Bureau (FSTB)’s purview.
 
The National 15th Five‑Year Plan has called for advancing the RMB internationalisation and pursuing greater openness of the RMB capital accounts. We will leverage Hong Kong’s unique strengths and proactively align with national development strategies to strengthen Hong Kong’s function as a global offshore RMB business hub while promoting the progress of the RMB internationalisation, including actively promoting offshore RMB business in the B&R regions and other emerging markets.
 
Having consulted the FSTB and the Constitutional and Mainland Affairs Bureau (CMAB), the consolidated reply to the question raised by the Hon Chu Lap-wai is as follows:
 
(1) The HKSAR Government is formulating the first Hong Kong five-year plan at full speed, with a view to providing clear guidance for Hong Kong’s socio-economic and livelihood developments for the coming five years, and align with the 15th Five-Year Plan, driving Hong Kong’s deeper integration into and contribution to the overall national development. The formulation of the Hong Kong five-year plan is led by the Chief Executive and responsible by the CMAB, and each policy bureau would establish its working group to take forward the work, which is expected to be completed this year.
 
Relevant bureaux/departments will suitably align with the 15th Five-Year Plan, including the parts related to the B&RI. Currently, we do not have plans to adjust the manpower of the BRO for the work of aligning with the 15th Five-Year Plan, but we will review the manpower and resources arrangements from time to time in accordance with the office’s work strategy and targets.
 
(2) and (3) Hong Kong currently processes about 75 per cent of global offshore RMB payments, and has the largest offshore pool of RMB funds. As at end-2025, the RMB deposits (including outstanding Certificates of Deposit) in Hong Kong was about RMB1.1 trillion, providing liquidity support to offshore RMB trading and financial activities globally including B&R regions. The average daily turnover of Hong Kong’s RMB Real Time Gross Settlement System was about RMB2.5 trillion in 2025, remaining at a high level, reflecting continuously active RMB financial activities supported by Hong Kong’s RMB financial infrastructure. We do not have information of the number of economies with importers and exporters currently using the Hong Kong payment system for the RMB trade settlement, and the trading volume involved.
 
In terms of promoting the broader use of the RMB for trade settlement within the B&R regions, the Hong Kong Monetary Authority (HKMA) introduced the RMB Trade Financing Liquidity Facility (TFLF) in February 2025. The facility offers banks a relatively stable source of RMB funding for their provision of trade finance-related services to corporate customers. To enhance the liquidity and global reach (including B&R regions) of the offshore RMB market in Hong Kong, the HKMA introduced the RMB Business Facility (RBF) in October 2025, which replaced the RMB TFLF, featuring multiple enhancements such as providing corporates with the longer-term RMB financing required for trade, daily operations and capital expenditures, so as to support the use of the RMB in the real economy. Eligible end-users have also been extended from corporate clients of participating banks to cover also corporate clients of the participating banks’ overseas intragroup banking entities. From February 2, 2026, the total size of the RBF was increased from RMB100 billion to RMB200 billion to support banking institutions in facilitating the wider use of the RMB by their corporate clients. The HKMA will continue to monitor the implementation of the RBF, including quota utilisation by participating banks, collect market feedback, and consider further enhancements with the support of the People’s Bank of China if and as appropriate.

In terms of commodity trading, with the progress of the RMB internationalisation, the influence of the RMB in the commodities market is gradually increasing. At the same time, the Mainland is one of the leading commodity consumers in the world. With our country’s strong support, Hong Kong has the potential to continue optimising product development and infrastructure and strive to become a major cross-boundary commodity market. The Hong Kong Exchanges and Clearing Limited (HKEX) has launched a series of commodity futures products settled in the RMB, covering metal types such as gold, silver, aluminium, zinc, copper, nickel, tin and lead, as well as RMB-denominated gold exchange-traded funds. The Shanghai Gold Exchange also listed RMB-denominated gold contracts for delivery in Hong Kong on its International Board in 2025. On the other hand, the London Metal Exchange and Qianhai Mercantile Exchange, both a subsidiary of the HKEX, operate the world’s largest base metals exchange and our country’s only offshore spot trading platform for soybeans respectively, laying the foundation for the expansion of RMB-denominated commodity products, channelling the RMB’s vitality in the currency market to the commodity market and promoting the RMB internationalisation. We will also establish the Hong Kong central clearing system for gold to provide efficient and reliable clearing services for transactions of gold in compliance with international standards.
  
Regarding the co-operation with B&R countries mentioned in the question, the HKSAR Government and financial regulators have been actively promoting co-operation with B&R regions in various financial areas. For example, in September 2023, the FSTB signed a Memorandum of Understanding (MOU) with the Emirate of Dubai to strengthen bilateral relations and co-operation, and to promote the mutual development of the financial services sectors of both places. In August 2024, the Chief Executive led a delegation to visit Vietnam, during which the HKSAR Government also signed a MOU with the Ministry of Finance of Vietnam to enhance communication and knowledge exchange between Hong Kong and Vietnam in the field of financial services. In December 2024, the HKMA signed a MOU with the Central Bank of the United Arab Emirates (UAE), agreeing to establish connectivity of the debt capital markets and the related financial market infrastructures between Hong Kong and the UAE, with a view to facilitating cross-border debt securities issuance and investment activities. In September 2025, the Securities and Futures Commission of Hong Kong signed a MOU with the Securities and Commodities Authority of the UAE to expand cross-border market access for public funds under a Mutual Recognition of Funds arrangement, marking a new milestone in advancing Hong Kong-UAE market connectivity.
 
(4) In 2014, 2015 and 2017, three sukuk of different structures and tenors totalling US$3 billion were issued under the Government Bond Programme. Below are the highlights of the three Government issuances of sukuk:
 

Issue date	September 2014	June 2015	February 2017
Structure	Ijarah	Wakalah	Wakalah
Issuance size	US$1 billion	US$1 billion	US$1 billion
Subscription amount	US$4.7 billion	US$2 billion	US$1.72 billion
Tenor	5 years	5 years	10 years
Yield	2.005% (23 basis points over 5-year US Treasuries)	1.894% (35 basis points over 5-year US Treasuries)	3.132% (68 basis points over 10-year US Treasuries)
Listings	Hong Kong Stock Exchange, Bursa Malaysia and Nasdaq Dubai
Allocation	Allocated to over 120 global institutional investors, with 36% of the sukuk distributed to the Middle East, 47% to Asia, 6% to Europe and 11% to the Americas	Allocated to 49 global institutional investors, with 42% of the sukuk distributed to the Middle East, 43% to Asia and 15% to Europe	Orders were received from over 88 global institutional investors, and 57% of the sukuk was distributed to Asia, 25% to the Middle East and 18% to Europe

 
Also, we are actively developing emerging markets such as the Middle East and other B&R markets. Some sovereign and quasi-sovereign entities, such as the Indonesian Government and the Development Bank of Kazakhstan, issued offshore RMB bonds in Hong Kong for the first time in 2025. In February 2026, the Indonesian Government issued bonds (including offshore RMB bonds) in Hong Kong again. Multilateral development banks such as the Asian Infrastructure Investment Bank and the Asian Development Bank have also been issuing offshore RMB bonds in Hong Kong. These developments underscore Hong Kong’s growing appeal as a leading hub for offshore RMB bond issuance. We will strengthen our promotional efforts through delegation visits, conferences, roadshows, etc, to actively highlight the advantages of Hong Kong’s offshore RMB services to the international market.
 
Meanwhile, the HKMA is actively promoting the strengths of Hong Kong’s financial system and market through market development efforts, with a view to further strengthening co-operation with sukuk issuers and investors. For example, on March 30, 2026, the HKMA and the Islamic Development Bank co-hosted a sukuk seminar in Hong Kong, attracting over 200 participants to discuss the development of the sukuk market and explore the role of Hong Kong’s debt raising platform.
 
(5) and (6) The BRO is currently conducting a revamp on the “Belt and Road Initiative．Hong Kong” thematic website to enhance and optimise the website design and enrich its content, with a view to disseminating information about the B&RI to different stakeholders more effectively. During the revamp of the website, we will study and consider the suggestion to add other languages to the website.

Source: Hong Kong Government special administrative region – 4

     Following is a question by the Hon Hung Kam-in and a written reply by the Acting Chief Secretary for Administration, Mr Cheuk Wing-hing, in the Legislative Council today (April 22):

Question:

     There are views suggesting that Hong Kong’s think tanks have a distinct advantage and potential in policy research, public governance and external cooperation, which can help further strengthen Hong Kong’s position in the overall development of the country. To enable think tanks to play their role more fully, the Government of the Hong Kong Special Administrative Region has introduced a number of support measures in recent years, including the Strategic Public Policy Research Funding Scheme and the Public Policy Research Funding Scheme. In this connection, will the Government inform this Council:

(1) whether it is aware of the following information regarding think tanks in Hong Kong: (i) the number of organisations; (ii) their main areas of research; (iii) the number of annual research reports; (iv) the composition of their funding sources; and (v) their latest rankings among think tanks in Asia and globally; how the Government currently defines, or intends to define formally in the future, the term “think tank” (including whether it will establish clear criteria or guidelines, such as non-profit status, independence requirements, and scope of research);

(2) whether there are specific plans and policies in place to promote the development of think tanks in Hong Kong, and whether it will consider introducing more targeted measures to further enhance their international influence;

(3) whether an assessment has been made regarding the current role, specific work and effectiveness of Hong Kong’s think tanks in manpower training for young political talent, nurturing opinion leaders and facilitating the “revolving door” mechanism for talent, and whether it will consider providing further support to think tanks in order to strengthen their role as a pool of patriotic political talent with affection for our country and Hong Kong;

(4) how does the Government currently evaluate and utilise think tank recommendations to maximise their effectiveness; whether it will consider further optimising mechanisms to facilitate the translation of think tank research findings into actual policies, and strengthen regular communication and co-operation between the Government and think tanks; and

(5) as the 1 500 members of the Election Committee (EC) come from different sectors, how will the Government better gather views through them, including whether it will establish an institutionalised mechanism to enable EC members to participate in policy research and external exchanges, and publish relevant views in the form of think tank reports; will the Government further explore developing EC into Hong Kong’s “largest think tank platform” to strengthen its role in good governance?

Reply:

President,

     Regarding the various parts of the question raised by the Hon Hung Kam-in, my consolidated reply, which is based on the information provided by the Constitutional and Mainland Affairs Bureau and the Chief Executive’s Policy Unit (CEPU), is as follows:

(1) Think tanks are important partners of the Government in the policy-making process, contributing from policy incubation, conception to formulation, implementation, and review. The Government hence attaches great importance to maintaining connections with think tanks, including research centres in higher education institutions (university think tanks), corporate planning and research centres (corporate think tanks) and think tanks in the community, and continues to facilitate the development of the think tank sector through various channels. The Government currently does not maintain detailed information on local think tanks. Indeed, each think tank has its own positioning with diverse research interests. They also differ in terms of operating objectives, structures, and organisational backgrounds. It is therefore difficult to arrive at a single, unified definition.

(2) and (4) Since its establishment, the CEPU has been dedicated to harnessing the policy research strengths of think tanks, drawing extensively on their outstanding research achievements, and translating researches that integrate both local and international perspectives into valuable references for internal policy studies, thereby strengthening knowledge exchange and social participation in the policy-making process. Specifically, the CEPU supports public policy research think tanks by providing funding support through the Public Policy Research Funding Scheme and the Strategic Public Policy Research Funding Scheme to encourage university think tanks and think tanks in the community to apply their expertise to conduct evidence-based researches on key public policy issues. Since its establishment, the CEPU has implemented a series of innovative reforms under its funding schemes, aiming to enhance the overall impact of granted projects. Relevant initiatives include inviting representatives from relevant policy bureaux to join discussions, ensuring that research directions align closely with policy priorities. In addition, for the first time, the CEPU has established a dedicated recognition mechanism to recognise the social impact of outstanding researchers and institutions, encouraging more researchers in university think tanks to transform quality foundational researches into practical applied studies. Furthermore, over the past two years, the CEPU has organised nearly 20 policy seminars, workshops, and roundtable meetings for the research projects, inviting participation of representatives from the Government, industries, academia and research institutions. These platforms foster collaboration among the Government and industry, academia and research sectors, enabling research teams to absorb the latest insights and diverse professional perspectives.

     Separately, the CEPU has established a regular communication mechanism to maintain close ties with think tanks. In addition to roundtable meetings, thematic seminars, visits, and one-on-one meetings to gather views from academia and policy research experts, the CEPU also held dedicated consultation sessions for the 2024 and 2025 Policy Address to gather views and suggestions from the think tank sector. Think tank representatives were also invited to attend other consultation sessions on various policy areas that align with their respective interests and expertise.

     Looking ahead, the CEPU will continue to maintain close communication with local think tanks, including university, corporate and community think tanks, and actively facilitate the application of policy research findings. Through its funding schemes, the CEPU will continue to act as a catalyst for translating evidence-based researches that integrate both local and international perspectives into valuable references for internal policy studies, fostering a vibrant network of local think tanks.

(3) With regard to political talent, the Government implemented the Political Appointment System for Principal Officials in 2002, and introduced the positions of Under Secretaries and Political Assistants in 2008 following a review, providing political talents with a more comprehensive career development pathway. The Government has been actively recruiting suitable talents from various sectors with different backgrounds and professions from both inside and outside the government structure, thereby enabling the Government to be more comprehensive and effective in policy formulation and implementation with the support of the civil service. In fact, the current-term Government’s team comprises people from various sectors of the community, including think tanks, meeting the objectives of attracting talents, serving the community and improving governance.

(5) The Election Committee is a key part of the electoral system of the Hong Kong Special Administrative Region (HKSAR). In accordance with Annex I and Annex II to the Basic Law, the HKSAR establishes an Election Committee which is broadly representative, suited to HKSAR’s actual situation, and represents the overall interests of the society. It is responsible for electing the Chief Executive designate and some members of the Legislative Council, and nominating candidates for the Chief Executive and the Legislative Council. 

     The role and statutory functions of the Election Committee are set out in the Basic Law. While the Election Committee does not have an attached think tank mechanism, Election Committee members have all along proactively put forth their views and suggestions in their respective capacities and through relevant bodies and sectors, as well as engaged in exchanges and collaboration across different sectors to jointly promote Hong Kong’s long-term development.

Source: Hong Kong Government special administrative region – 4

     Following is a question by the Hon Duncan Chiu and a written reply by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, in the Legislative Council today (April 22): 

Question:

     There are views that the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) offers extensive opportunities for the synergistic development of scientific research between the Mainland and Hong Kong. Hong Kong’s strengths in frontier scientific research, professional services and its internationalised market complement the well-developed industrial chains and large-scale production capabilities of Mainland GBA cities. This creates a co-operation model of “front research, back production; front shop, back factory”, thereby facilitating the development of new quality productive forces. In this connection, will the Government inform this Council:

(1) as it has been reported that the Hong Kong Microelectronics Research and Development Institute (MRDI) will complete the setup of its two pilot lines for third-generation semiconductors at the Microelectronics Centre in Yuen Long within this year and put them into operation next year, of the specific timetable for their deployment and commencement of operation; the number of staff MRDI plans to employ for these pilot lines, and among such staff, the proportion of those with backgrounds in scientific research and industry; whether there are plans to deploy additional pilot lines in the future (if so, of the key areas involved); and how the authorities will facilitate MRDI’s pilot lines in functioning as a bridge between innovative research and mass production;

(2) given that applications for fund managers of the Innovation and Technology Industry-Oriented Fund (ITIF) closed on January 16 this year, of the current progress of the selection exercise for fund managers, including the expected timeframe for its completion and announcement of the results; regarding the five thematic areas under the ITIF, the timetables for setting up each sub-fund and their respective fundraising targets; in respect of ITIF’s requirement that at least 25 per cent of the total fund size must be allocated within the investment period for the establishment and operation of production and manufacturing bases in Hong Kong, covering pilot production lines, testing procedures, etc, related to innovation and technology or new industrialisation-related industries, what measures the Government will adopt to ensure effective implementation of this requirement and provide solid support for advancing the development of pilot test and production platforms; and

(3) of the specific strategies and measures the authorities have in place to promote co-operation between Hong Kong and GBA in the joint development of testbeds for new technologies, accelerators and touchstones for emerging industries, to promote the efficiency enhancement of pilot test and production platforms, to strengthen and complement industrial chains, and to further unlock the synergistic advantages of “research and development in Hong Kong + transformation in GBA + going global”, thereby accelerating the commercialisation and application of new technologies?

Reply:

President,

     The National 15th Five-Year Plan emphasises deep integration of scientific and technological innovation with industrial innovation, and building a modern industrial system anchored by advanced manufacturing to consolidate and strengthen the foundation of the real economy. In accordance with this strategic direction, the Hong Kong Special Administrative Region (HKSAR) Government has been actively advancing relevant work across various areas.

     Our reply to the question raised by the Hon Duncan Chiu is as follows:

 (1) and (3) The Hong Kong Microelectronics Research and Development Institute (MRDI) is actively preparing its pilot lines for research and development (R&D) and trial production of third generation semiconductors. The installation and tuning of equipment would commence in the second quarter of this year, for commencement of operation of the pilot lines by the end of this year. The MRDI is expected to engage 80 fabrication staff with relevant industry background and R&D experience by the first quarter of 2027 to support the operation of pilot lines. The MRDI will continue to recruit personnel (including management and administrative support, R&D and fabrication staff) with an aim to orderly establishing a team of around 200 staff.  Upon full commissioning of the pilot lines, the initial projection is that around 50 pilot runs would be undertaken by the MRDI annually, including R&D, concept-proofing fabrication, pilot production and low-volume production so as to assist the industry in addressing the pain points and achieving upgrade and transformation, thereby promoting technological innovation. 

     To implement the Co-operation Agreement on the Development of New Quality Productive Forces and the Promotion of New Industrialisation (the Co-operation Agreement) signed with the Ministry of Industry and Information Technology (MIIT), it has been proposed in the Budget to earmark about $220 million for establishing in Hong Kong the first national manufacturing innovation centre (the innovation centre) outside the Chinese Mainland. The innovation centre will be located at the Microelectronics Centre of the Yuen Long InnoPark. The aim is to facilitate breakthroughs in key technologies, advance commercialisation of technological achievements and bring together international talent. The MRDI will, by building on its existing foundation, undertake the important task of taking the lead to operate the innovation centre. We will also continue to review and introduce appropriate measures to support the R&D and technological application of the semiconductor industry.

     Close economic integration of Hong Kong with the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) brings about opportunities for cross-boundary scientific collaboration, technology transfer and the development of emerging and future industries. The Government is expediting the development of the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (Hetao Hong Kong Park) and San Tin Technopole to promote the full integration of technological innovation and industrial innovation. The Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (the Co-operation Zone), comprising the Hong Kong Park and the Shenzhen Park, is established under the vision of “one river, two banks” and “one zone, two parks”. The Co-operation Zone is the only major co-operation zone with a dedicated focus on technological innovation in the country that spans across two social, economic, and judicial systems. The Hetao Hong Kong Park was officially opened in December 2025. The HKSAR Government is consulting closely with the Shenzhen Municipal Government and relevant central ministries, on the premise of complying with the relevant national security laws and regulations and where risks are under control, in a bid to facilitate the cross-boundary flow of innovation elements between the two parks in Shenzhen and Hong Kong, achieve synergy and improve the efficiency of pilot production for enterprises, through approaches such as “green lane” and “white list”. The Government expects that through the realisation of the development vision of “one zone, two parks” in Hetao, the advantages of the combined strengths with Shenzhen and other Mainland cities in the GBA will be leveraged to bring about opportunities for cross-boundary scientific collaboration, technology transfer and the development of emerging and future industries, and build a globally competitive innovation and technology (I&T) ecosystem together.

     As a natural extension of the Loop, the San Tin Technopole can integrate with the comprehensive industry supply chains in the Mainland cities of the GBA. It can also take up the transformation and industrialisation of research outcomes derived from the Hetao Hong Kong Park, creating a comprehensive industrial ecosystem. While the Loop focuses on R&D, commercialisation, and pilot production in the upstream and midstream levels, the San Tin Technopole will provide a large piece of land which can help accelerate the commercialisation of R&D results by providing industrial space for prototyping, pilot and mass production.

     Moreover, the Pilot Innovation and Technology Accelerator Scheme launched by the Government in January 2026 aims to attract I&T accelerators with proven track records in and beyond Hong Kong to set up accelerator bases in Hong Kong and, through their business networks and experience, support the development and needs of I&T enterprises in a more comprehensive and targeted manner. Subsidy is provided through a matching ratio of 1 (Government): 2 (service provider), up to a ceiling of $30 million to cover the necessary expenditure for establishing and operating I&T accelerators. Eligible I&T enterprise service providers may apply by April 30.

     Meanwhile, under the co-ordination of the MIIT, the HKSAR Government is exploring with the Department of Industry and Information Technology of Guangdong Province (GDDIIT) and the Industry and Information Technology Bureau of the Shenzhen Municipality (SZBIIT) the collaboration development directions for new industrialisation in the GBA during the period of 15th Five-Year Plan in order to implement the Co-operation Agreement to promote industrial collaboration. The overall direction is to jointly foster the in depth integration of technological and industrial innovation in the GBA. This facilitates both Guangdong and Hong Kong to collaborate specifically in the areas of emerging and future industries under the overall planning on new industrialisation of the national 15th Five-Year Plan, with a view to achieving complementarity, mutual benefits and industrial chain synergy to serve the country in building a modernised industrial system with advanced manufacturing as its core. We will continue to maintain close communication with the MIIT, GDDIIT and SZBIIT to take forward the relevant work with concerted efforts.  

(2) The application for fund managers of the Innovation and Technology Industry-Oriented Fund (ITIF) was closed in mid-January this year. We are currently reviewing the applications received to select suitable fund managers. Shortlisted fund managers will be invited to meetings in batches, with a view to commencing the operation of the fund within this year.

     The ITIF will cover five thematic areas, namely life and health technology, AI and robotics, semi-conductors and smart devices, digitalisation, upgrading and transformation, and future and sustainable development. The Government plans to set up one or more sub-funds under each thematic area and select eligible professional fund managers. They will be responsible for setting up the sub-funds and raise market capital in accordance with the fundraising requirements within 12 months upon confirmation as a qualified fund manager. The ITIF will operate in a market-oriented manner, and we will flexibly adjust the composition, number and target size of the sub-funds under the various thematic areas, taking into account the market response and development of the industries. The total amount of contribution of the Government will be capped at $10 billion, and we intend to make an average contribution of $2 billion to each thematic area. The overall target size of the sub-funds will be at least $40 billion. In other words, the capital committed by the market will be at least triple of that of the Government.

     The Government would set up a Steering Committee comprising representatives from the commercial, I&T and investment sectors as well as relevant representatives of the Government to provide independent advice on matters related to the ITIF, including the establishment and management of sub-funds, investment targets, investment management and agreement framework, monitoring and review. In addition, we will put in place appropriate monitoring and review mechanisms. For example, a limited partnership agreement, which sets out the responsibilities and obligations of the fund managers, including at least 25 per cent of the fund size must be allocated within the investment period for the establishment and operation of production and manufacturing bases in Hong Kong, covering pilot production lines, testing procedures, etc, shall be signed with the fund managers. Fund managers shall also submit regular management reports to the Steering Committee and shall be subject to the monitoring of the said Committee.

Source: Hong Kong Government special administrative region – 4

The Chief Secretary for Administration, Mr Chan Kwok-ki, today (April 22) led the delegation of the Working Group on Planning and Construction of the University Town under the Committee on Development of the Northern Metropolis to continue its visit to Korea. The delegation conducted on-site visits to local universities and held meetings with officials, with a view to providing a solid reference for the planning and development of the Northern Metropolis University Town (NMUT).
 
In the morning, the delegation visited the Korea Advanced Institute of Science and Technology in Daejeon and toured its campus facilities. They met with Hong Kong students studying there to learn about their studies and the institute’s efforts in fostering students’ innovation capabilities. The delegation specifically discussed with them student support and ancillary measures on campus, the institute’s strategies for attracting international students, and its liaison and co-operation with industry, accumulating practical observations for the NMUT’s campus ecosystem and industry-academia collaboration.
 
Afterwards, the delegation met with the Vice Mayor for Political Affairs, Economy and Science of Daejeon Metropolitan City, Mr Choi Sung-ah, to learn about the local development of the institutions and innovation districts, governance and funding models, industry-academia-research integration, and talent attraction. They also exchanged views on deepening co-operation in the education sector between the two places.
 
Mr Chan said that the Hong Kong Special Administrative Region Government is fully committed to developing the NMUT, with the aim of establishing it as an international education, innovation, and technology hub. He expressed hope that through this visit, the delegation could learn from Daejeon’s successful experience in attracting top scientific and research talent, its efficient governance and funding models, and could understand how the city transforms scientific discoveries into industrial applications. 
 
In the afternoon, Mr Chan led the delegation to the Institute for Basic Science (IBS) located in the Daedeok Innopolis. Established in 2011, the IBS is Korea’s first institute solely focused on basic science. It possesses advanced shared facilities and large-scale scientific research infrastructure. The delegation visited the Science Culture Center there and met with the Acting President, Dr Kim Yeong-duk. They gained an in-depth understanding of the institute’s experience in areas such as basic research and applied innovation, as well as talent attraction.
 
Mr Chan said that the IBS is devoted to integrating basic research with applied innovation, and focuses on establishing a vibrant scientific research ecosystem. This experience provides valuable reference for Hong Kong in planning the NMUT. He expressed the hope of learning more about the institute’s continuous support for fundamental research and how it facilitates the seamless integration with applied innovation and industry, helping Hong Kong better plan the NMUT, and thereby promoting the transformation of excellent research outputs into impactful scientific discoveries, achieving technological breakthroughs and unlocking potential economic value. 
 
Mr Chan, the Secretary for Education, Dr Choi Yuk-lin, and other members of the delegation arrived in Seoul in the evening and will continue their visit tomorrow (April 23).

Source: Hong Kong Information Services

The Hospital Authority (HA) said it is very concerned about a fatal work accident at the Kai Tak Hospital Phase II main construction site and has instructed the main contractor to thoroughly investigate the accident’s cause and to submit a report to the HA as soon as possible.

The HA said it was notified by the project’s main contractor this evening that a 59-year-old male worker employed by the subcontractor lost consciousness after being injured while working. The worker was sent to United Christian Hospital but was certified dead after resuscitation.

The HA expressed deep sorrow over the incident and extended its sincere condolences to the deceased worker’s family. It has directed the main contractor to provide appropriate assistance to the family and support them in handling the worker’s after-death arrangements.

The HA added that it is aware that site staff immediately contacted and followed up with the main contractor, China State Construction Engineering (Hong Kong).

The main contractor has been urged to take the incident seriously and adopt all necessary measures expeditiously to ensure site safety.

The HA highlighted that it has always placed paramount importance on industrial safety at hospital construction sites.

It noted that the main contractor will report the incident to the Labour Department (LD) and urge the main contractor to fully co-operate with the LD and other relevant enforcement agencies in their investigation.

The LD said it immediately deployed staff to the scene upon receiving a report of the accident and is now conducting an investigation into its cause.

Source: Hong Kong Information Services

Today was the third day of phased arrangements for residents of seven blocks of Wang Fuk Court in Tai Po to return to their units. The Government said 264 people from 78 households turned up and the access arrangements were carried out in an orderly manner and operated smoothly.

Eleven high-zone floors of Wang Sun House were opened today.

Concluding the arrangements, the Government said a total of 271 people from 79 households registered to return to their units today through the “one social worker per household” service, while 264 people from 78 households actually turned up.

The average time residents spent entering and leaving the building today was two hours and 34 minutes, with the shortest time being 50 minutes and the longest four hours and five minutes.

About one fourth of the residents stayed in the building for less than two hours, while around 1.5% of them stayed for less than one hour.

A total of 45 people from 21 households went up and down the building more than once. Among them, 32 people from 14 households made one additional trip, seven people from four households made two additional trips, and four people from two households made three additional trips, with the highest record being two people from one household making four additional trips.

The integrated enquiry counter today received seven cases requesting police assistance and five cases involving residents seeking help due to physical discomfort, as well as three cases seeking psychological counselling services.

The seven cases requesting police assistance involved suspected loss of property, including laptop computers, jewellery and gold items. Officers were immediately deployed to assist in searches, and lost property was recovered in six cases. For the remaining one case, there were no signs of ransacking in the unit, and the residents could not provide details on the property concerned. 

The Government outlined that it deploys over 1,000 personnel from various departments each day, including Police, the Civil Aid Service, the Fire Services Department, the Auxiliary Medical Service, the Home Affairs Department, the Social Welfare Department, the Housing Department, and the Housing Bureau, and staff mobilised from other departments, as well as District Services & Community Care Teams members to fully support residents returning to their units.

Source: Hong Kong Information Services

A delegation of permanent secretaries and heads of departments of the Hong Kong Special Administrative Region Government completed a national affairs study programme at the National Academy of Governance (NAG) in Beijing this morning, with Vice President of NAG Li Wentang officiating at its closing ceremony.

 

On behalf of the delegation, Secretary for the Civil Service Ingrid Yeung expressed gratitude to the Hong Kong & Macao Affairs Office of the State Council and NAG for their thoughtful arrangements.

 

She said that although the study programme lasted only four days, it offered rich and in-depth content, covering subjects ranging from Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, to the National 15th Five-Year Plan, the international landscape and national technological developments.

 

Mrs Yeung expressed confidence that all participants were deeply inspired and benefited immensely.

 

She also noted that the Beijing trip gave the participants a clearer and deeper understanding of the country’s latest developments and strategies.

 

With the insights gained from this study, Mrs Yeung believes that the permanent secretaries will take a more comprehensive perspective when leading their teams in formulating Hong Kong’s five-year plan, ensuring better alignment with the national development strategies.

 

The delegation arrived in Chengdu this evening. They will visit a supercomputing centre, a low-altitude economy enterprise, and a high-tech industrial development zone over the next two days to gain a first-hand understanding of the latest local developments.

Source: Hong Kong Information Services

On day two of their Korea visit, Chief Secretary Chan Kwok-ki and a delegation visited local universities and held meetings with officials, with a view to providing a solid reference for the planning and development of the Northern Metropolis University Town (NMUT).

Mr Chan is leading a delegation of the Working Group on Planning & Construction of the University Town under the Committee on Development of the Northern Metropolis.

In the morning, they visited the Korea Advanced Institute of Science & Technology in Daejeon and toured its campus facilities.

The delegation met Hong Kong students studying there to learn about their studies and the institute’s efforts in fostering students’ innovation capabilities.

The delegation specifically discussed with them student support and ancillary measures on campus, the institute’s strategies for attracting international students, and its liaison and co-operation with industry, accumulating practical observations for the NMUT’s campus ecosystem and industry-academia collaboration.

Afterwards, the delegation met the Vice Mayor for Political Affairs, Economy & Science of Daejeon Metropolitan City Choi Sung-ah to learn about the local development of the institutions and innovation districts, governance and funding models, industry-academia-research integration, and talent attraction.

They also exchanged views on deepening co-operation in the education sector between the two places.

Mr Chan said the Hong Kong Special Administrative Region Government is fully committed to developing the NMUT, with the aim of establishing it as an international education, innovation, and technology hub.

He expressed hope that through this visit, the delegation could learn from Daejeon’s successful experience in attracting top scientific and research talent, its efficient governance and funding models, and understand how the city transforms scientific discoveries into industrial applications.

In the afternoon, Mr Chan led the delegation to the Institute for Basic Science (IBS) located in the Daedeok Innopolis, where they visited the Science Culture Center and met the institute’s Acting President Kim Yeong-duk.

They gained an in-depth understanding of the institute’s experience in areas such as basic research and applied innovation, as well as talent attraction.

Established in 2011, the IBS is Korea’s first institute solely focused on basic science. It possesses advanced shared facilities and large-scale scientific research infrastructure.

The Chief Secretary said the IBS is devoted to integrating basic research with applied innovation, and focuses on establishing a vibrant scientific research ecosystem, adding that the experience provides valuable reference for Hong Kong in planning the NMUT.

Mr Chan hoped to learn more about the institute’s continuous support for fundamental research and how it facilitates the seamless integration with applied innovation and industry, helping Hong Kong better plan the NMUT, and thereby promoting the transformation of excellent research outputs into impactful scientific discoveries, achieving technological breakthroughs and unlocking potential economic value. 

Source: Hong Kong Information Services

The Sale of Home Ownership Scheme (HOS) Flats 2025, the Sale of Green Form Subsidised Home Ownership Scheme (GSH) Flats 2025 and the White Form Secondary Market Scheme (WSM) 2025 will accept joint applications from 8am on April 30.

The Housing Authority (HA) made the announcement today, saying there will be a supply of almost 8,000 units in six projects for the sale of HOS and GSH in this batch.

The flats for sale under HOS 2025 include about 7,000 flats in five new HOS developments located in Kai Tak, Kam Tin, Tseung Kwan O, Ping Shan and Tung Chung respectively, with saleable areas ranging from about 26.1 sq m to about 52 sq m.

The discount for HOS 2025 is set at 30% of the assessed market values. The selling prices of the flats in the five new HOS developments range from about $1.5 million to about $4.8 million.

Flats for sale under GSH 2025 include over 800 new flats from the new GSH development in Kowloon Bay, Shing Chi Court, with saleable areas ranging from about 26 sq m to about 43.6 sq m. In addition, a new batch of recovered Tenants Purchase Scheme (TPS) flats will be offered for sale under GSH 2025.

With the discount for GSH 2025 setting at 40% from the assessed market values, the selling prices of flats in the new GSH development range from about $1.68 million to $3.54 million.

The list prices of the unsold TPS flats in the 39 estates range from about $0.16 million to $1.37 million, and the discounts range from 79% to 83% of the assessed market values. The final price range will depend on the recovered TPS flats that will be put up for sale under this sales exercise.

HOS 2025, GSH 2025 and WSM 2025 will implement a series of measures that encourage members of the public to move upward along the housing ladder, including allocating an extra ballot number to young family applicants and young one-person applicants aged below 40 with White Form (WF) status who opted to join the Youth Scheme (HOS).

In addition, an extra ballot number will be allocated to applicants who have failed to purchase a subsidised sale flat (SSF) in the last two consecutive sale exercises of the same type of SSF. The HOS and GSH will be conducted separately.

To encourage public rental housing (PRH) tenants to purchase SSFs, the quota allocation ratio between Green Form and WF will be increased from 40:60 to 50:50.

The alienation restriction period of new SSFs put up for sale in the open market will be shortened from 15 years to 10 years from the date of the first assignment.

As for the WSM quota, it will be further increased by 1,000 to 7,000, which includes 2,000 quotas for young applicants aged below 40, while the remaining 5,000 are ordinary quotas.

Separately, the authority sets a quota of 2,800 new HOS flats under HOS 2025 and 350 new GSH flats under GSH 2025 for family applicants applying under the Priority Scheme for Families with Elderly Members and the Families with Newborns Flat Selection Priority Scheme for ballot and priority flat selection.

To provide one-person applicants with a reasonable opportunity to purchase, the HA has set a quota of 700 new HOS flats under HOS 2025 and 100 new GSH flats under GSH 2025 for one-person applicants.

Eligible applicants may submit an online application or a paper application either in person or by post until 7pm on May 20.

Call the 24-hour hotline at 2712 8000 for enquiries.