Author: MIL-OSI Publisher

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Hong Kong Monetary Authority:

​The Hong Kong Monetary Authority (HKMA) today (May 30) urged members of the public to be vigilant against fraudulent social media accounts impersonating the Chief Executive of the HKMA, Mr Eddie Yue. The HKMA clarified that its latest news and work priorities are only disseminated through official channels, including the official website and social media accounts (for details, please visit www.hkma.gov.hk). Any other personal social media accounts or pages claiming to represent the HKMA Chief Executive are fake.

The public should disregard any information disseminated on suspicious websites, social media accounts or pages.

The incident has been reported to the Police for follow up.

Source: Hong Kong Information Services

Secretary for Financial Services & the Treasury Christopher Hui met financial officials in Ottawa on Wednesday and business representatives in Vancouver yesterday, as he continued a five-day visit to Canada.

Mr Hui met Canadian Deputy Minister of Finance Chris Forbes on Wednesday. They discussed the challenges posed by unilateralism and protectionism, and how Hong Kong and Canada might collaborate to achieve mutual benefits in areas such as the gold market and virtual assets.

Mr Hui told Mr Forbes that as global economic gravity continues to shift eastwards, Hong Kong has been exploring new growth areas and expanding international co-operation. He said this includes efforts by a working group to promote gold market development.

In a meeting with Canada’s Superintendent of Financial Institutions Peter Routledge, Mr Hui spoke of Hong Kong’s perseverance in upholding a robust regulatory regime across different financial institutions and financial products.

Mr Routledge praised Hong Kong for its advanced development in the area of digital assets, stating that it sets an example for other regions.

Mr Hui then met Senator Woo Yuen-pau at Parliament Hill and brief hum on Hong Kong’s effort in maintaining its status as an international financial centre through various measures.

He mentioned the recent affirmations of Hong Kong’s credit ratings by Fitch, S&P and Moody’s, adding that these fully demonstrate Hong Kong’s resilience in maintaining stability amid increasing global economic and financial uncertainties.

During his short stay in Ottawa, Mr Hui also paid a courtesy call to China’s Ambassador to Canada Wang Di.

Mr Wang said Hong Kong has its own distinctive advantages which can enable it to be a bridgehead in driving closer ties between China and Canada in addition to fostering direct co-operation between Hong Kong and Canada.

In Vancouver yesterday, Mr Hui met Fraser Institute Board Chair Mark Scott and some other prominent business figures to update them on Hong Kong’s financial development.

Mr Hui welcomed the think-tank’s ranking of Hong Kong as the world’s freest economies in its Economic Freedom of the World 2024 Annual Report.

Later, he spoke at a business lunch hosted by the Hong Kong-Canada Business Association (Vancouver Chapter), and participated in a fireside chat.

Mr Hui then met representatives of the Canadian Imperial Bank of Commerce and briefed them on development in areas such as wealth management and digital assets in Hong Kong.

The day concluded with a business networking reception and seminar organised by Invest Hong Kong (Canada).

Addressing the audience, Mr Hui highlighted the Government’s dedication to integrate Web3 innovations into the real economy by introducing a licensing regime for fiat-referenced stablecoin issuers, and to foster the development of Web3 and digital assets.

He also mentioned Hong Kong’s determination to expand the financial value chain to sustain the world-class status of its financial markets. Two forward-looking moves are to build an international gold trading market and create a commodity trading ecosystem in Hong Kong, he said.

Mr Hui added that, with Canada enjoying a prominent position in the global gold market and the Toronto Stock Exchange being the world’s pre-eminent stock exchange for mining companies, co-operation between Hong Kong and Canada can establish an East-West financial corridor for the world.

Source: Hong Kong Government special administrative region

     Following are the welcoming remarks by the Secretary for Justice, Mr Paul Lam, SC, at the Global Forum on International Mediation today (May 30):
 
Your Excellencies, distinguished guests, ladies and gentlemen,
 
     It is with great pleasure that I welcome you all to the inaugural Global Forum on International Mediation.
 
     This morning, altogether 32 state parties including China signed the Convention on the Establishment of the International Organization for Mediation. This is undoubtedly a historic event since the International Organization for Mediation (IOMed) will be the first international intergovernmental organisation devoted to the use of mediation in resolving international disputes. We all hope that the Convention will enter into force as soon as practicable.
 
     While the Convention has already set out the framework and the essential terms concerning the operation of the IOMed, the state parties would need to consider and agree on further details to ensure the smooth operation of the Convention. To ensure and attract more state parties’ support and participation, it is also necessary to raise people’s awareness of mediation as a means of resolving international disputes and to enhance the capacity to use it in practice. In these circumstances, it is most pertinent to hold this Global Forum on International Mediation immediately after the signing ceremony of the Convention.
 
     The IOMed will provide mediation services for the settlement of the following three types of international disputes: disputes between states, disputes between a state and a national of another state and international commercial disputes between private entities. This afternoon, we are extremely honoured and privileged to have a distinguished panel of moderators and speakers, who will share their views in two panels: the first one will focus on mediation of disputes among states, whereas the second session will focus on mediation of international investment and commercial disputes. Our distinguished moderators and speakers consist of leaders or former leaders of state parties, as well as from international organisations and multilateral development banks; and also experts and other key stakeholders in international mediation.
 
     To set the scene, I would like to highlight the significance of mediation in resolving international disputes and the important role that Hong Kong will play in the operation of the IOMed.
 
     Put simply, mediation is a process whereby the parties in dispute attempt to reach a mutually acceptable and amicable settlement of their dispute on a voluntary basis with the assistance of a third party who may facilitate a solution between the parties to the dispute but without the power to impose it upon the parties. As compared to traditional means of resolving international disputes such as litigation or arbitration, mediation is clearly more forward-looking, constructive and conducive to repairing the relationship between the two sides.
 
     It is well-known that peaceful settlement of international disputes is one of the most fundamental principles of international law and international relations. The use of mediation as a means to settle international disputes peacefully is expressly mentioned in Article 33 of the Charter of the United Nations, and also the Declaration on Principles of International Law concerning Friendly Relations and Cooperation among States in accordance with the Charter of the United Nations passed by the United Nations General Assembly in 1970.
 
     The United Nations General Assembly has passed altogether four resolutions on “Strengthening the role of mediation in the peaceful settlement of disputes, conflict prevention and resolution” on June 22, 2011, September 13, 2012, July 31, 2014, and September 9, 2016, respectively. In the most recent one dated September 9, 2016, the UN General Assembly recognised mediation as an efficient and cost-effective tool in the peaceful settlement of disputes, conflict prevention and resolution, and welcomed its increased use. It acknowledged the importance of mediation in the peaceful settlement of disputes, conflict prevention and resolution and in seeking long-term political solutions for sustaining peace, and recognised that mediation needs to be further and more effectively used.
 
     On the other hand, the role of mediation in resolving international commercial and investment disputes between a state and a foreign national or between private entities from different countries is also well acknowledged and recognised. As early as 1980, the United Nations Commission on International Trade Law (UNCITRAL) developed and adopted the UNCITRAL Mediation Rules, which were subsequently revised in 2021. And more recently, in 2024, UNCITRAL published the Guidelines on Mediation for International Investment Disputes. The United Nations Convention on International Settlement Agreements Resulting from Mediation, which entered into force in September 2020, offered another example of international efforts in promoting mediation.
 
     While mediation may be conducted on an ad hoc basis, there are clear advantages to conducting mediation with institutional supports. Institutional supports may include, for example, guidance on procedural aspects; assistance in communicating with the other party; identification of a pool of mediators and assistance in their selection and appointment; assistance in the logistic aspects of mediation including the organisation of in-person and remote meetings; as well as providing for data protection and cybersecurity measures.
 
     In the circumstances, in order to promote and facilitate the use of mediation to resolve international disputes, it is most desirable to have an intergovernmental organisation devoted to the use of mediation to resolve international disputes. The establishment of the IOMed has filled a glaring omission in the past international dispute resolution system. The Organization will complement the other two intergovernmental organisations specialising in international dispute resolution, namely, the International Court of Justice and the Permanent Court of Arbitration.
 
     The headquarters of the IOMed will be crucial to the implementation of the Convention. It represents the physical presence of the institution, and provides the platform to provide various mediation services. I am extremely grateful that the state parties to the Convention have agreed to establish the headquarters of the IOMed here in Hong Kong, which is a strong vote of confidence in Hong Kong. I would respectfully submit that Hong Kong is indeed an ideal place to host the headquarters of the IOMed.
 
     Hong Kong is a special administrative region of China, which has taken the lead in the establishment of the IOMed. Under the principle of “one country, two systems”, Hong Kong enjoys numerous unique advantages, which put it in the best position to serve as the headquarters of the IOMed. As President Xi Jinping said on December 20, 2024, in Macao at the ceremony celebrating the 25th anniversary of China’s resumption of sovereignty over Macao, the principle of “one country, two systems” embodies the fundamental values of peace, openness, harmony and sharing. These are also the intrinsic values behind the Convention.
 
Hong Kong is a well-known world-class international financial, trading and shipping centre. Its geographical location, well-developed transportation services and liberal immigration policy ensure that people from around the world may and can come here easily. Hong Kong is also one of the safest and most friendly cities in the world. We offer diversified services in different aspects to suit the needs of people speaking different languages coming from different cultures, religions and countries.
 
     But most importantly in the present context, under the principle of “one country, two systems”, Hong Kong is the only common law jurisdiction in China, and the only bilingual common law jurisdiction using both Chinese and English in the world. We have a strong pool of legal professionals coming from different jurisdictions who specialise and are experienced in international dispute resolutions. The legal system of, and the legal services provided by, Hong Kong are highly international, reputable and efficient. It is undoubtedly an international legal services and dispute resolution services centre.
 
     Hong Kong has been a keen supporter of mediation. The HKSAR Government has formulated a comprehensive set of policy initiatives, which aim at deepening the mediation culture in Hong Kong. For example, the Policy Statement on the Incorporation of Mediation Clauses in Government Contracts was issued in November 2024. As a matter of general policy, the Government will incorporate a mediation clause in all government contracts. By taking the lead, it is hoped that private entities would be encouraged to include mediation clauses in their contracts, thereby deepening our “mediate first” culture.
 
     Turning to capacity building regarding international mediation, since 2018, the Department of Justice has been co-organising with reputable international organisations, almost on a yearly basis, Investment Law and Investor-State Mediator Training in Hong Kong. The Hong Kong International Legal Talents Training Academy under the Department of Justice was set up in November 2024, which may collaborate with the IOMed in organising capacity building programmes on international mediation in future.
 
     Hong Kong is also continuously seeking to foster legal co-operation with other jurisdictions. It is our honour that, in a moment, the Department of Justice of the HKSAR Government will sign a Memorandum of Co-operation with Cambodia.
 
     On this very happy and positive note, I would like to conclude by wishing you all a very fruitful and constructive Forum this afternoon. Thank you very much.
 

Source: Hong Kong Information Services

The Private Columbaria (Amendment) Ordinance 2025 was published in the Government Gazette and came into force today.

 

The amendment ordinance helps to enhance the current regulatory regime on private columbaria and strengthen the protection of consumers’ interests.

 

One of the primary purposes of the amendment ordinance is to provide “pre-cut-off columbaria” an additional option to make new applications for exemption.

 

“Pre-cut-off columbaria” are those that were in operation and had ashes interred in them before the announcement of the proposal to establish a licensing regime at 8am on June 18, 2014. Once successfully obtaining an exemption through the new application, they can retain niches they sold before the enactment of the ordinance.

 

The amendment ordinance enhances enforcement-related provisions for greater deterrent effect, including the introduction of new offences that prohibit overselling niches and over-placing ashes.

 

Additionally, the amendment ordinance requires the Private Columbaria Appeal Board to only receive and consider new materials not previously provided to the Licensing Board upon special grounds being shown in order to ensure the adoption of a consistent standard by appeal panels.

 

Click here for more details.

Source: Hong Kong Information Services

The Government today published a technical memorandum in the Gazette with the aim of further reducing the emission allowances of air pollutants for power plants from 2030 onwards, thereby improving the air quality in Hong Kong and the Pearl River Delta region.

 

Issued under the Air Pollution Control Ordinance, the Tenth Technical Memorandum for Allocation of Emission Allowances in Respect of Specified Licences (the Tenth TM) reduces the annual emission allowances of sulphur dioxide (SO2), nitrogen oxides (NOx) and respirable suspended particulates (RSPs) from the electricity sector from 2030 onwards at 2,302 tonnes, 8,350 tonnes and 317 tonnes respectively.

 

The Environment & Ecology Bureau said it represents further tightening by 19%, 25% and 14% respectively when compared with the emission allowances for the electricity sector for 2026 set under the Ninth TM.

 

The Tenth TM will be tabled at the Legislative Council on June 4 for commencement by the end of 2025.

 

In accordance with the ordinance, the new set of emission allowances will come into effect on January 1, 2030.

 

The bureau said it has taken into account various factors in setting the new emission allowances.

 

Such factors include local electricity demand, the gas-fired electricity generation of the two power companies, the emission performance of existing generating units, the estimated import of nuclear power and clean energy, and the projected electricity intake from renewable energy sources.

 

The Government has also been requiring the two power companies to adopt the best practicable means in their plants’ design and operational management to minimise emissions of air pollutants, the bureau added.

 

Hong Kong’s air quality has been improving continuously in recent years.

 

The ambient concentrations of SO2, nitrogen dioxide and RSPs recorded in 2024 had been reduced by 45% to 88% when compared with that in 2004.

 

The number of hours of reduced visibility observed had also been greatly reduced by 82% from its peak in 2004.

 

As emissions from the electricity sector accounted for 61%, 27% and 13% of the territory-wide emissions of SO2, NOx and RSPs respectively in 2022, the tightened emission allowances for power plants will help further improve the air quality in Hong Kong and the Pearl River Delta region.

 

The bureau said it will review the technical memorandum again not later than 2027 to ensure timely revision of the emission allowances.

Source: Hong Kong Government special administrative region

Source: Hong Kong Information Services

The Education Bureau today said that it will inform parents about the results of the Central Allocation for Primary One Admission 2025 on June 4 and 5.

 

A total of 19,489 children took part in the central allocation this year, with 15,538 being allocated to schools of their first three choices.

 

Taking into account discretionary places and the number of children allocated to schools of their first three choices in the allocation exercise, the overall satisfaction rate is 90%.

 

Parents who have activated their Primary One Admission e-Platform account via iAM Smart or iAM Smart+ can check the allocation results through the platform from 10am on June 4.

 

Meanwhile, parents who have provided a mobile phone number on the Choice of Schools Form and indicated their consent to receive the allocation results via the mobile phone number will be notified via SMS on June 4.

 

Parents will also receive the Primary One Registration Form with the allocation results, which will be delivered on June 4 and 5 through Hongkong Post’s Local CourierPost service. If parents have not received the documents or a Mail Collection Notification Card issued by Hongkong Post by June 6, they can collect the Primary One Registration Form at a designated collection centre on June 7 or 8.

 

The Education Bureau reminded parents that they are required to register their child with the school allocated on June 10 or 11 during school hours.

 

For enquiries, call 2832 7610 (Hong Kong Island and Islands), 2832 7620 (Kowloon), 2832 7635 (New Territories West), 2832 7659 (New Territories East).

 

For general enquiries, call 2832 7700 or 2832 7740.

Source: Hong Kong Information Services

Chief Executive John Lee

I am delighted to join you on this historic occasion: to celebrate with you the signing of the Convention on the Establishment of the International Organization for Mediation (IOMed).

Gathered here today, in the Hong Kong Special Administrative Region of the People’s Republic of China, are high-level representatives of over 80 countries from Asia, Africa, Latin America and Europe; and from the United Nations and about 20 international organisations. A very warm welcome to Hong Kong!

It is a privilege for us to host this signing ceremony, and to serve as the IOMed headquarters, once the convention enters into force.

This singular occasion is made possible by the ongoing and dedicated efforts of China, our country, in working with around 20 states, since late 2022, to establish an intergovernmental organisation devoted to mediation. After five rounds of intensive negotiation since 2023, co-ordinated by the IOMed Preparatory Office, the negotiating states concluded the very convention signed today.

The IOMed will become the world’s first intergovernmental international legal organisation dedicated to resolving international disputes through mediation. It also reflects our shared confidence in mediation as a peaceful means to maintain international peace and security, as stipulated in the Charter of the United Nations.

The IOMed will provide a pathway for countries – regardless of culture, language and legal system – to resolve international disputes based on mutual respect and understanding. This is increasingly important amid mounting geopolitical tensions. When protectionism threatens to derail the international trade order, and when unilateralism looms over global supply chains, it is dialogue – not division – that restores balance.

China has long championed equity and unity. The Chinese virtue of “和而不同”, meaning “harmony in diversity”, is deeply rooted in our community and culture. This value of mutual respect in spite of differences also sits at the heart of mediation, the IOMed, and a world that seeks co-operation over conflict.

Despite geopolitical turbulence, Hong Kong builds bridges, not walls. Under our unique “one country, two systems” principle, Hong Kong is the only world city that enjoys both the China advantage and the global advantage. With the support of the National 14th Five-Year Plan, Hong Kong has risen as an international legal and dispute resolution services centre in the Asia-Pacific region.

We are the only common law jurisdiction in China, and the only jurisdiction in the world with a bilingual common law system in both Chinese and English. We have a long tradition of the rule of law, and our courts exercise their judicial power independently. Hong Kong’s Court of Final Appeal, which is vested with the power of final adjudication, has on its bench eminent jurists from both Hong Kong and overseas common law jurisdictions.

Our robust, efficient and well-respected legal system is supported by world-class legal and dispute resolution professionals. Often bilingual or even multilingual, they are well-versed in international rules and practices, and help to position Hong Kong as a preferred venue for dispute resolution.

In this year’s International Arbitration Survey, Hong Kong is the most preferred seat of arbitration in the Asia-Pacific region, and shares second place globally with another jurisdiction. Our economy also came first in business legislation and international trade in the World Competitiveness Yearbook. In the latest Business Ready Report published by the World Bank Group, Hong Kong ranks eighth in dispute resolution among the 50 economies covered.

All this underscores Hong Kong’s effectiveness as a super connector and super value-adder among many economies. We contribute to cross-border investment and economic activity through our top-notch professional services. Our “one country, two systems” advantages make us well-placed to be the headquarters of the important institution of the IOMed.

The Hong Kong Special Administrative Region Government is devoted to supporting the IOMed’s provision of friendly, flexible, economical and efficient mediation services. We actively promote a vibrant culture of mediation. In fact, it is a general policy to incorporate a mediation clause in all government contracts. We are also enhancing the system on local accreditation and disciplinary matters of the mediation profession.

And we go all out to build bridges with the world. Hong Kong will actively promote the IOMed’s valuable work in settling international disputes through mediation, and advocate mediation as a global tool for peace and justice across borders.

Ladies and gentlemen, the establishment of the IOMed’s headquarters in Hong Kong is a great honour for our city. The headquarters, as you may know, will be based in the building that once housed the Wan Chai Police Station, just a stone’s throw away from here. Built in 1932, this iconic building has a long association with law and order in Hong Kong. From its prime downtown location, it has also witnessed the transformation of our city that has long treasured unity. In its new role as the IOMed headquarters, the building will play a vital part in the future of Hong Kong as a centre for international legal and dispute resolution services.

We are working to complete the conversion of the building for its new mission. I am happy to say that it could open its doors as early as the end of this year. We look forward not only to welcoming its new occupants, but also to supporting them in building new bridges for a more connected, peaceful and prosperous future through mediation.

I would like to express my sincere gratitude to the central government for its staunch support of Hong Kong, allowing Hong Kong the honour of housing the IOMed headquarters here. My sincere gratitude also goes to the international community, for placing your trust and confidence in our city. Let’s renew our commitment to peace, justice and the rule of law. Let’s cultivate a mediation culture together. Let’s build a strong IOMed for a global community of shared future founded on peace and prosperity. Please enjoy the day and enjoy Hong Kong. Thank you.

Chief Executive John Lee gave this speech at the Signing Ceremony of the Convention on the Establishment of the International Organization for Mediation on May 30.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region