Month: April 2026

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Information Services

The World Internet Conference Asia‑Pacific Summit opened today at the Convention & Exhibition Centre, where Chief Executive John Lee delivered remarks.

Building on its successful debut last year, Hong Kong is once again organising the summit which Mr Lee noted underscores Hong Kong’s growing prominence as an international innovation and technology (I&T) hub. 

“No less important, it reinforces our deep integration into national development strategies. The country’s National 15th Five-Year Plan, approved last month, continues to champion Hong Kong’s development as an international I&T hub, let me add. That includes supporting the development of I&T in the Guangdong-Hong Kong-Macao Greater Bay Area.”

He added that the Hong Kong Park of the Hetao Shenzhen‑Hong Kong Science & Technology Innovation Co-operation Zone, which officially opened in December 2025, has attracted more than 70 tenants from key technology sectors, including artificial intelligence (AI) and data science, life and health technology, and new energy. 

“We are also working with Mainland authorities on implementing facilitating policies at the Co-operation Zone. They include enabling the cross-boundary flow of bio-samples and other innovation elements.”

Mr Lee highlighted that AI is central to the Hong Kong Special Administrative Region Government’s accelerating I&T development. 

“We are putting together a comprehensive strategy combining world-class infrastructure, cutting-edge research and development (R&D) and a culture of responsible innovation. The upcoming data facility cluster at Sandy Ridge will further expand Hong Kong’s overall computing power. By 2032, this cluster alone will provide 180,000 petaFLOPS. That is 36 times Hong Kong’s current computing power.

“As for R&D, the Hong Kong Artificial Intelligence Research & Development Institute’s opening, later this year, will help drive breakthroughs from upstream AI R&D. It will also transform midstream and downstream R&D outcomes and expand use cases.”

Themed “Digital and Intelligent Empowerment for Innovative Development – Jointly Building a Community with a Shared Future in Cyberspace”, the two-day summit is expected to gather around 1,000 government and business leaders, representatives of international organisations, experts and scholars from over 50 countries and regions to jointly deepen regional digital collaboration, and create new momentum and advantages towards the development of the Asia-Pacific region.

Director of the Cyberspace Administration of China and World Internet Conference (WIC) Chairman Zhuang Rongwen also delivered remarks at the opening ceremony. 

After the opening ceremony, Secretary for Innovation, Technology & Industry Prof Sun Dong and WIC Secretary-General Ren Xianliang co-hosted the Government-Enterprise Dialogue, engaging in a comprehensive exchange on government-enterprise collaboration to empower business development. 

Financial Secretary Paul Chan and Prof Sun delivered their remarks at the Main Forum and Distinguished Contributors Gala in the afternoon, outlining Hong Kong’s advantages for digital economy and I&T development. 

A Hong Kong Dialogue was also staged to feature emerging technology enterprises to engage in an extensive exchange on frontier I&T trends, jointly envisioning the future directions and opportunities for I&T developments.

A first-ever ministerial meeting was convened and co-hosted by Prof Sun and Mr Ren, providing a premier platform for ministerial officials and representatives of international organisations from across the globe to facilitate high-level exchanges and dialogue. I&T ministers from Samoa, Madagascar, Turkmenistan, Burundi and others conducted rigorous discussions on topics such as how AI promotes high-quality economic growth.

The summit is hosted by the WIC, organised by the Hong Kong SAR Government and co-organised by the Innovation, Technology & Industry Bureau.

Source: Hong Kong Government special administrative region – 4

An incoming passenger was sentenced to a total of six months’ imprisonment with a fine of $6,000 by the Fanling Magistrates’ Courts today (April 13) for possessing duty-not-paid cigarettes and failing to declare them to Customs officers in contravention of the Dutiable Commodities Ordinance (DCO).
 
Customs officers intercepted the incoming 52-year-old female passenger at the Lo Wu Control Point on March 9 and seized 981 duty-not-paid cigarettes from her, with an estimated market value of about $4,000 and a duty potential of about $3,200. She was subsequently arrested and granted bail pending her court appearance.
 
Customs officers yesterday (April 12) seized a total of 5 381 duty-not-paid cigarettes, with an estimated market value of about $22,000 and a duty potential of about $17,700, from the same female passenger and her personal baggage at the Lok Ma Chau Spur Line Control Point. She was arrested again.
 
Customs welcomes the sentence. The custodial sentence has imposed a considerable deterrent effect and reflects the seriousness of the offences.
 
Customs reminds members of the public that under the DCO, cigarettes are dutiable goods to which the DCO applies. Any person who imports, deals with, possesses, sells or buys illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.
 
Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Source: Hong Kong Government special administrative region

　　Hosted by the World Internet Conference (WIC), organised by the Hong Kong Special Administrative Region Government and co-organised by the Innovation, Technology and Industry Bureau, the 2026 WIC Asia‑Pacific Summit officially began today (April 13) at the Hong Kong Convention and Exhibition Centre. Building on its successful debut last year, Hong Kong is once again organising this international Internet flagship event, further reinforcing the city’s role as an international innovation and technology (I&T) centre. Themed “Digital and Intelligent Empowerment for Innovative Development – Jointly Building a Community with a Shared Future in Cyberspace”, the two-day Summit is expected to gather around 1 000 government and business leaders, representatives of international organisations, experts and scholars from over 50 countries and regions to jointly deepen regional digital collaboration, and create new momentum and advantages towards the development of the Asia-Pacific region.

     The WIC once again has designated Hong Kong to host the Asia-Pacific Summit, affirming Hong Kong’s pivotal role as an important bridge and two-way platform connecting the country and the world. At the opening ceremony this morning, the Chief Executive, Mr John Lee, and the Director of the Cyberspace Administration of China and the Chairman of the WIC, Mr Zhuang Rongwen, delivered their remarks respectively. Distinguished speakers including the Minister of Investment, Regional Development and Informatization of the Slovak Republic, Mr Samuel Migal’; the Chief Executive Officer of GSMA Ltd, Mr John Hoffman; and the Chairman of the International AI Governance Association, Mr John Higgins, were invited to share their insights. 
     Alongside the Summit, Hong Kong’s annual I&T mega event, the Business of Innovation and Technology Week (BIT Week), is taking place concurrently in April. The InnoEX, themed “Innovate • Automate • Elevate” this year, brings together I&T enterprises, industry elites and buyers from Hong Kong, the Chinese Mainland and overseas to jointly promote the application of cutting-edge technology solutions in five key areas, namely AI+, robotics, the low-altitude economy, property technology and retail technology, while exploring global collaboration opportunities. The series of exciting I&T activities elevates Hong Kong’s I&T atmosphere to new heights and accelerates the city’s development into an international I&T centre.

Source: Hong Kong Government special administrative region – 4

Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Hong Kong Investment Funds Association (HKIFA)’s 40th Anniversary Cocktail reception today (April 13):
 
Sam (Chairman of the HKIFA, Mr Sam Yu), distinguished guests, industry leaders, and friends from the HKIFA,
 
Good evening. It is a great pleasure of mine to join you this evening to celebrate the 40th Anniversary of the HKIFA. I extend my warmest congratulations to the Association on this significant milestone. For four decades, the HKIFA has been a steadfast pillar of our asset and wealth management industry. You have tirelessly championed professional standards, fostered innovation, facilitated dialogue between the Government, regulators and market participants, and helped position Hong Kong as a premier international financial centre. Your contributions have not only strengthened the industry’s foundation but also inspired the next generation of talent and leaders. Tonight, we honour your remarkable journey and look forward to many more years of fruitful collaboration.
 
Hong Kong’s asset and wealth management sector continues to demonstrate remarkable resilience and dynamism. According to the latest annual survey released last year, our assets under management grew by a robust 13 per cent year on year to over HK$35 trillion. This impressive expansion, representing 11 times our GDP (Gross Domestic Product), was powered by net fund inflows that surged 81 per cent to over HK$700 billion. The positive momentum has carried on, with Hong Kong-domiciled SFC (Securities and Futures Commission)-authorised funds recording net inflows of HK$357 billion for last year, a striking 119 per cent year-on-year increase. More than half of these assets come from investors outside the Chinese Mainland and Hong Kong, underscoring our status as Asia’s primary asset and wealth management hub for international capital.    
 
We are particularly encouraged by the growth in alternative investments and private equity. Hong Kong is now home to over 650 private equity firms, with capital under management reaching US$231 billion as at the end of last year, ranking second in Asia. We are also reinforcing our position as Asia’s largest cross-boundary wealth management centre, with strong expectations that we will soon claim the top spot globally.
 
To sustain this upward trajectory, the Government and regulators have introduced a series of targeted policy measures that build on our core strengths – an open and internationalised market, the rule of law, a regulatory regime aligned with global standards, a rich pool of professional talent, and the free flow of information and capital. In February last year, the SFC issued a circular clarifying the regulatory requirements for authorising closed-ended funds that invest mainly in private assets. This initiative actively encourages sizeable alternative asset funds, including those focused on private equity, private credit, infrastructure, and other areas with regular income streams, to list in Hong Kong. Complementing this, the Mandatory Provident Fund (MPF) Schemes Authority clarified in May last year that MPF Funds may invest in approved listed private equity funds, further broadening potential access to these funds.
 
We are also enhancing our preferential tax regimes for funds, single family offices, and carried interest. Key proposals include expanding the tax exemption regime to cover sizeable funds-of-one, as well as a wider range of qualifying investments such as loans, private credit, digital assets, and precious metals. These measures are targeted for implementation from the year of assessment 2025/26, creating an even more competitive and attractive environment for wealth management activities.
 
Recognising the promising growth potential of the family office and high-net-worth sector, we launched the New Capital Investment Entrant Scheme in March 2024. This scheme aims to attract high-net-worth individuals and fresh capital while enriching our sector. We are delighted that it has already drawn over 3 300 applications with an expected investment value of about HK$99 billion, reflecting strong global confidence in Hong Kong. To further engage the international family office community, we successfully held the fourth edition of the Wealth for Good in Hong Kong Summit last month, bringing together family offices from around the world to exchange ideas on legacy building, innovation, and sustainable wealth growth.
 
Continued development of our market infrastructure remains a key competitive advantage. Our fund infrastructure was advanced through the HKEX (Hong Kong Exchanges and Clearing Limited)’s Integrated Fund Platform. With the Fund Repository launched in December 2024 and the Order Routing Service introduced in July last year, the platform is set to deliver even greater efficiency, lower transaction costs, and broader distribution reach when additional services covering fund sales procedures are rolled out this year.
 
In parallel, we continue to promote the REIT (real estate investment trust) market through regulatory enhancements, investor base expansion, stamp duty waivers on REIT unit transfers, and forthcoming legislative amendments to facilitate privatisation or restructuring of REITs, as well as stamp duty waivers for transferring non-residential properties into REITs seeking listing. Subsidies are also available for eligible open-ended fund companies and REITs to cover a portion of professional service expenses, lowering entry barriers and encouraging more funds to establish or re-domicile in Hong Kong.
 
All these measures form part of our multipronged strategy to sharpen Hong Kong’s competitive edge and cement our position as a leading international asset and wealth management centre. Yet, beyond policies and statistics, what truly sets Hong Kong apart is our shared vision – a vision of a dynamic, innovative, and inclusive financial ecosystem where capital meets opportunity, where talent thrives, and where wealth creation contributes to broader economic and social good. The HKIFA has been an invaluable partner in realising this vision, and I am very confident that, working hand in hand under Sam’s leadership, we will achieve even greater heights in the years ahead.
 
Just now at the beginning of the stage, Sam mentioned the HKIFA’s 40 years of excellence. In Chinese, if you are well-versed in the Confucius teaching, there’s a saying of “When you turn 40, you have no doubts”. That means that you are more determined in the direction that you are taking and in the work that you are doing. I am sure that now with the HKIFA turning 40, you are getting more mature, more determined. We are looking forward to working together with the HKIFA to continue this process of making continued prosperity for the industry, and also at the same time for the future of Hong Kong as a premier Asia asset and also wealth management hub. Thank you.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Following is the English translation of the opening remarks by the Secretary for the Civil Service, Mrs Ingrid Yeung, at the special meeting of the Legislative Council Finance Committee this afternoon (April 13):

Chairman,

Among the matters related to the civil service in the 2026-27 Draft Estimates of Expenditure, I would like to focus my introduction on the following items.

The first item is the civil service establishment. The entire Government has continued to implement the fiscal consolidation programme and strictly contain the growth of its operating expenditure, which has achieved certain results. In line with the Productivity Enhancement Programme and in order to optimise the use of manpower resources, we will reduce the civil service establishment by 2 per cent each in 2026-27 and 2027-28 basing on the establishment of the preceding financial year. Together with the establishment reduced under the zero-growth policy for the civil service establishment in previous years, a cumulative deletion of over 10 000 posts is expected within this term of Government.

All bureaux and their departments (B/Ds) have considered such factors as the overall service demand, operational needs and vacancy situations for making arrangements for the 2 per cent reduction in the civil service establishment in 2026-27. The overall civil service establishment will be reduced to an estimated level of about 188 000 posts by April 1, 2026.

I would like to take this opportunity to reiterate that the reduction in establishment is the most direct way to reduce the actual expenditure, as the financial provisions for personal emoluments allocated to B/Ds are calculated based on the establishment rather than the strength. With the reduction in establishment, the provisions allocated to them will be directly reduced.

I understand that concerns have been raised about the impact of the reduction in establishment on the development of large-scale projects and the efficiency of daily services. I would like to take this opportunity to clarify the matter. Reduction in the civil service establishment is achieved by optimising manpower arrangements through reorganisation and reprioritisation of work while maintaining the efficiency of public services. All posts will be reviewed to ascertain the necessity to retain them. For posts that are essential to the provision of public services, they will be retained. Departments with actual needs can still apply for additional manpower. For instance, we will deploy internal manpower and create time-limited posts as necessary for the preparation of the Asia-Pacific Economic Cooperation Finance Ministers’ Meeting 2026.

As for civil service pay adjustment, we are taking forward the relevant work of the 2026-27 civil service pay adjustment in a gradual and orderly manner in accordance with the established mechanism. The 2026 Pay Trend Survey (PTS) is currently under way, and the results are expected to be available in May. The Chief Executive in Council will make a decision on the 2026-27 civil service pay adjustment arrangements having due regard to all relevant factors, including the state of Hong Kong’s economy, changes in the cost of living, the Government’s fiscal position, the net pay trend indicators derived from the PTS, the pay claims of the staff sides and civil service morale.

The next item is the work on civil service training. The Civil Service College (CSC) will continue to implement the Governance Talents Development Programme to cultivate a pool of governance talent who love the country and Hong Kong and are familiar with the national development and international landscape as well as local circumstances. In addition, the CSC will continue to take forward various initiatives to strengthen the governance capabilities of the civil service. On AI, the CSC will collaborate with the Digital Policy Office to provide training and online learning resources themed around AI to enable civil servants to better grasp the relevant knowledge. The CSC will also continue to enhance elements related to AI and technology application in leadership training for civil servants, enabling leaders to guide their departments in adopting AI more widely to improve public services. The relevant estimated expenditure for 2026-27 is approximately $259 million.

As for medical benefits, the Government will continue to honour its contractual obligation as the employer and provide medical benefits for serving civil servants, pensioners and other eligible persons. The medical services provided by the Hospital Authority (HA) as part of the medical benefits have been included in the HA’s overall provision. Regarding Families Clinics and dental services provided by the Department of Health, on top of its regular services, the provision will continue to cover the pilot scheme on provision of dental scaling services via private dental organisations for some civil service eligible persons, the pilot scheme on receiving designated dental services at a medical institution in Shenzhen and the seasonal influenza vaccination pilot scheme.

The Civil Service Bureau will continue to take forward various policies and initiatives, such as expanding the functions of the Public Service Commission to cover Tier II investigation under the Heads of Department Accountability System, and formulating enhancement measures to develop a more rigorous civil service performance appraisal system for differentiating staff performance more effectively.

Chairman, this is the end of my introduction. I would welcome questions from Members.