Source: Hong Kong Government special administrative region
Oath-taking arrangements for Legislative Council MembersIssued at HKT 15:00
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FEHD continues to implement regulatory measures for life-saving attendants at private swimming pools
Source: Hong Kong Government special administrative region
FEHD continues to implement regulatory measures for life-saving attendants at private swimming poolsIssued at HKT 15:00
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Appointments to SCCS and SCDS announced
Source: Hong Kong Government special administrative region
Appointments to SCCS and SCDS announcedIssued at HKT 15:00
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SHYA expresses deep sorrow at passing of the Most Venerable Jing Yin
Source: Hong Kong Government special administrative region
SHYA expresses deep sorrow at passing of the Most Venerable Jing Yin
Miss Mak said, “The Most Venerable Jing Yin dedicated his life to promoting Buddhism and benefitting the Buddhist community. He also took an active part in education and social matters, rendering immense meritorious service. The Most Venerable Jing Yin was always concerned about the matters of Islands District. Since 2020, he had served as a member of the Lamma Area Committee, offering advice on the district’s development and environmental improvements. He made significant contributions, particularly in the conservation and promotion of traditional culture, with fruitful results. The Buddhist community and members of the public are grateful for his contributions. We will always remember him.”
Issued at HKT 17:11
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HKMA, CEDB and IPD launch IP Financing Sandbox
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), in collaboration with the Commerce and Economic Development Bureau (CEDB) and the Intellectual Property Department (IPD), launched the Intellectual Property (IP) Financing Sandbox today (December 22).
As set out in “The Chief Executive’s 2025 Policy Address”, the IP Financing Sandbox aims to assist pilot sectors in leveraging IP assets for financing.
The Sandbox serves to provide a collaborative and risk-controlled environment for banks, IP valuation firms, legal practitioners and other relevant professions to test the full lifecycle of IP financing arrangements that are based on IP assets such as patents, trademarks and copyrights.
Through the Sandbox, banks can develop and refine their IP financing arrangements with the support from multidisciplinary professionals as well as guidance by the HKMA, the CEDB and the IPD. This initiative can also enable banks to accumulate practical experience in providing IP financing to better serve the needs of innovative enterprises, particularly small and medium-sized enterprises which are rich in IP assets but may lack tangible assets that can be pledged as collateral for bank financing.
Three major banks in Hong Kong have joined the Sandbox as inaugural participants, and have solicited interests from clients from the biotechnology, electronics and technology sectors to conduct pilot trials of IP financing through the Sandbox (see Annex).
Financing sandbox launched today with opening of Hong Kong Technology and Innovation Support Centre to foster intellectual property financing and innovation
Source: Hong Kong Government special administrative region
The Government announced today (December 22) the official launch of the intellectual property (IP) financing sandbox and the opening of the Hong Kong Technology and Innovation Support Centre (HKTISC), marking key milestones in promoting IP financing and further developing Hong Kong’s IP trading ecosystem while fostering innovation.
The Chief Executive announced in the 2025 Policy Address the launch of the sandbox to assist pilot sectors (particularly the technology sector) in leveraging IPs for financing with the support of the banking, insurance, valuation, legal and other professions. The sandbox will provide a collaborative and risk-controlled environment for stakeholders to test out the full lifecycle of IP financing and accumulate practical experience in providing IP financing.
With the Commerce and Economic Development Bureau (CEDB), the Intellectual Property Department (IPD) and the Hong Kong Monetary Authority’s (HKMA) deliberation, the sandbox is underpinned by the following four core operating principles:
(1) Recognition of IP value: Participating banks will consider the value of IPs owned by borrowing enterprises, alongside the borrower’s credit demand, financial position and repayment ability in their credit underwriting process.
(2) Independent and standardised valuation: To ensure credibility, IP valuation will be conducted by independent service providers using universally accepted methods. Where appropriate, qualitative patent evaluation reports can be obtained to support this process.
(3) Risk management: Participating banks should comply with applicable supervisory requirements on risk management, while participating enterprises should comply with the legal and regulatory requirements in respect of maintaining and developing the IP assets concerned.
(4) Stakeholder collaboration: The initiative relies on a cohesive ecosystem. It brings together enterprises that hold IP assets, banks, valuation experts, legal practitioners and other relevant professionals to co-create successful financing transactions.
The Secretary for Commerce and Economic Development, Mr Algernon Yau, said that the IP financing sandbox, together with other related measures announced in “The Chief Executive’s 2025 Policy Address”, would help leverage Hong Kong’s unique strengths to build an ecosystem where IP is protected with rigour, valued with clarity, and financed with confidence, with a view to strengthening Hong Kong’s role as a regional IP trading centre.
By enabling enterprises to leverage their IP assets for financing, the sandbox will help unlock a new financing channel, thereby supporting the commercialisation of outcomes of research and development as well as creativity, and promoting innovation and technology as a key driver of economic growth.
Three major banks have committed to participating in the sandbox, while nearly 30 professional firms from the legal and valuation sectors have indicated keen interest in participating. The CEDB, the IPD and the HKMA will closely monitor the progress of the pilot projects, gather feedback, and provide guidance as needed. It is anticipated that several trial cases are in the pipeline for the first phase of the sandbox.
In addition, the HKTISC that officially commenced full operations today is another key complementary initiative in promoting IP financing. With the support of the IPD, the HKTISC will closely engage small and medium-sized enterprises (SMEs) in the innovation and technology sector and provide a qualitative patent evaluation service to assess, based on national standards, the quality of their patents from legal, technological and economic perspectives. The Government will also launch a support scheme through the HKTISC in 2026 to financially assist SMEs to engage professional service providers for the valuation of their whole IP portfolios in monetary terms.
These integrated measures aim to provide an objective reference about the strengths of the patents and the monetary valuation of the whole IP portfolios owned by the SMEs, facilitating more effective credit assessment and investment analysis.
The Technology and Innovation Support Centre is a dedicated programme of the World Intellectual Property Organization (WIPO), which supports researchers and innovators at different stages of the innovation cycle, helping them make use of the IP system (especially by means of patents) to protect their inventions and guiding them to bring the technology to market. With the recognition of the Hong Kong Productivity Council as a Technology and Innovation Support Centre hosting institution by the China National Intellectual Property Administration and WIPO, the HKTISC will join the 200-plus strong Technology and Innovation Support Centre network in the country, which promotes better integration of Hong Kong into overall national development.
Cultural and Creative Industries Development Agency sponsored industry to participate in Comic Fiesta 2025 in Kuala Lumpur, Malaysia (with photos)
Source: Hong Kong Government special administrative region
The Cultural and Creative Industries Development Agency (CCIDA) under the Culture, Sports and Tourism Bureau sponsored the participation of selected original Hong Kong comic works under the fourth edition of the Hong Kong Comics Support Programme (HKCSP) at the Comic Fiesta 2025 in Kuala Lumpur, Malaysia, and set up the Hong Kong Pavilion to facilitate the industry’s expansion into overseas markets and promote exchanges between the Hong Kong and Southeast Asian comic industries.
Comic Fiesta 2025 took place on December 20 and 21. In addition to showcasing the 16 original Hong Kong comic works under the fourth edition of the HKCSP at the Hong Kong Pavilion, CCIDA sponsored the authors of the 16 comic works to attend the event in person and conduct drawing sessions. The set-up of the Hong Kong Pavilion was also supported by the Hong Kong Economic and Trade Office in Jakarta and Kuala Lumpur. The two-day event attracted an enthusiastic response with around 10 000 visitors recorded, demonstrating Hong Kong’s strong cultural soft power.
The HKCSP nurtures Hong Kong comic artists and supports local comic companies. Since its launch in 2021, the HKCSP has supported publication of 63 original Hong Kong comic works, some of which won prestigious international awards. Through participating in overseas events such as the Angoulême International Comics Festival in France and Comic Fiesta in Malaysia, and local events such as Ani-Com & Games Hong Kong, comic works developed under the HKCSP have secured nearly 40 licensing agreements for publishing in different languages, showing the vast potential of Hong Kong creative industries. For more information about the HKCSP, please visit www.hkcsp.hk.
Appointments to new term of Steering Committee of the Research, Academic and Industry Sectors One-plus (RAISe+) Scheme
Source: Hong Kong Government special administrative region
The Government announced today (December 22) the appointments to the Steering Committee of the Research, Academic and Industry Sectors One-plus (RAISe+) Scheme under the Innovation and Technology Fund for 2026-2027. Mr Duncan Chiu was reappointed as the Chairman of the Committee, while 15 non-official members were reappointed and two new non-official members were appointed. The appointments are for a term of two years starting from January 1, 2026.
The Committee is responsible for vetting eligible applications under the RAISe+ Scheme. Members are drawn from the research, academic, industry and investment sectors.
The membership of the Committee is as follows:
Chairman
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Mr Duncan Chiu
Non-official Members
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Professor Bian Zhaoxiang
Professor Cai Hongbin
Dr Sunny Chai Ngai-chiu
Professor Chan Chi-hou
Professor Francis Chan Ka-leung
Mr Simon Chan Sai-ming
Dr Hu Zhanghong
Ms Vanessa Huang Yifei
Dr Leung Chuen-yan*
Ms Li Qianxin
Mr Daryl Ng Win-kong
Professor Randy Poon Yat-choi
Mr Sunny Tan
Mr Patrick Tsang Shun-fuk
Professor Tu Wenwei
Professor Wong Wing-tak
Professor Zhang Qian*
Ex-officio Members
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Secretary for Innovation, Technology and Industry or his/her representative
Commissioner for Innovation and Technology or his/her representative
(* New appointee)
The Commissioner for Innovation and Technology, Mr Ivan Lee, said, “We would like to express our gratitude to the current members of the Committee for their support and contribution in the past two years and extend our sincere appreciation to the outgoing members, Professor Li Zexiang and Professor Teng Jin-guang. We trust that the Committee, under the leadership of Mr Chiu, will continue to provide valuable knowledge and advice to the Committee in the assessment of applications under the RAISe+ Scheme.”
The RAISe+ Scheme was launched in 2023 to unleash the potential of local universities in the “1 to N” transformation and commercialisation of research and development outcomes and facilitate relevant collaboration among the Government, industries, universities and research sectors. It will fund, on a matching basis, research teams from the eight universities funded by the University Grants Committee, which have good potential to become successful start-ups. Funding support from $10 million to $100 million will be provided to each approved project. A total of 49 projects were supported by the Scheme in the first two batches. The third round of applications was closed at the end of October 2025, and assessment of the applications is under way. Details are available on the ITF website (www.itf.gov.hk). For enquiries, please contact the Secretariat of the Scheme (Tel: 3543 5904; email: raiseplus@itc.gov.hk).
LCSD introduces new measures to strengthen efforts to combat touting activities
Source: Hong Kong Government special administrative region
LCSD introduces new measures to strengthen efforts to combat touting activities
The new measures are as follows:
(1) Penalties for using computer programmes or automated tools to interfere with SmartPLAY
To ensure the fair use of the SmartPLAY system, the LCSD will combat improper conduct involving the use of computer programmes or other automated tools to make booking transactions or interfere with the normal operation of the system. Specifically, SmartPLAY has incorporated conditions prohibiting the use of computer programmes or other automated tools to make bookings (www.smartplay.lcsd.gov.hk/website/en/about/conditions-of-use-of-smartplay.html
(2) New measures for booking indoor basketball and volleyball courts
Currently, a hirer who books turf soccer pitch through SmartPLAY is required to provide the SmartPLAY user account information of four other users. The hirer and three of the users named in the booking are required to check-in together and be present during the use of the booked session. This arrangement, aiming to ensure that hirers are genuine users, is generally effective since implementation. It will apply to indoor basketball and volleyball courts, which are popular facilities, starting from January 21, 2026. A hirer is required to provide the information of two other users when booking an indoor basketball or volleyball court. The hirer and one of the users named in the booking are required to check-in together and be present during use of the booked session. Details are available at the LCSD’s thematic webpage “Improvement measures to booking and use of recreation and sports facilities” (www.lcsd.gov.hk/en/facilities/facilitiesbooking/procedure/ls_fac_improve.html
(3) Standby arrangement no longer applicable to indoor basketball and volleyball courts
Under the existing measures applicable to some recreation and sports facilities, if a hirer does not take up the booked facility 10 minutes after the booked session starts, the LCSD may at its discretion permit other users to use the facility free of charge for the same purpose as the original hirer (commonly referred to as the standby arrangement), on condition that there are no other same-type facilities available for booking at the material time. In this connection, the LCSD has observed that certain hirers of indoor basketball and volleyball courts deliberately do not take up the booked sessions on the day of use, and are suspected to have engaged in touting activities by arranging for other users to use the booked courts under the standby arrangement. To combat such abuse of the standby arrangement, and making reference to the current arrangement for turf football pitches, the standby arrangement will no longer be applicable to indoor basketball and volleyball courts with effect from December 30, 2025.
LCSD will closely monitor the effectiveness of the new measures, and continue to enhance SmartPLAY as well as implement further anti-touting measures as necessary.
Issued at HKT 17:00
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SFST chairs briefing session on gold market development to outline future strategies and directions (with photos)
Source: Hong Kong Government special administrative region
The Chief Executive announced in the 2025 Policy Address that he has accepted the recommendations of the Working Group on Promoting Gold Market Development, and tasked the Financial Services and the Treasury Bureau (FSTB) with taking forward the implementation work. At a briefing session on gold market development today (December 22), the Secretary for Financial Services and the Treasury, Mr Christopher Hui, told industry stakeholders that a complete industry chain has initially taken shape for Hong Kong’s gold market, and the Government is actively working towards the goal of establishing Hong Kong as an international centre for gold trading, storage, clearing and risk management.
Organised by the FSTB, the briefing session aimed to introduce to the industry the Government’s long-term strategy and overall direction for building an international gold trading market. This encompasses multiple areas, including expanding storage capacity, enhancing gold supply, establishing infrastructure, diversifying investment vehicles and developing a local gold trading ecosystem. Attendees included representatives from exchanges, banks, asset management companies, gold mining, trading firms and refineries, warehouse operators as well as logistics providers.
Mr Hui said, “Stemming from the visionary idea of developing an international gold trading centre put forward by the Chief Executive in his 2024 Policy Address, I am pleased to see that Hong Kong’s gold market has begun to take shape, with a complete industry chain preliminarily established over the past year or so under the concerted efforts of the Government, regulators and the industry. The industry’s response has been positive, and many constructive suggestions have been received. Leveraging Hong Kong’s status as an international financial centre and its unique advantages of enjoying strong support from the motherland and being closely connected to the world, we will continue working closely with the industry, with a view to developing Hong Kong into an international hub for gold trading, storage, clearing and risk management.”
He highlighted the meaningful strides already realised through Government’s initiatives. In terms of storage facilities, the Airport Authority Hong Kong has completed the first-phase expansion of the precious metals depository at the Hong Kong International Airport, increasing capacity to 200 tonnes, and is pressing ahead with plans to further expand it to 1 000 tonnes. Meanwhile, the Shanghai Gold Exchange has launched its first offshore vault in Hong Kong. In addition, the FSTB and the Shenzhen Municipal Financial Regulatory Bureau have signed a Memorandum of Understanding to jointly build a deeply integrated regional gold ecosystem, laying a foundation for further co-operation in processing trade between Hong Kong and Shenzhen. On gold trading and clearing, the central clearing system for gold in Hong Kong, governed by a wholly government-owned company, is scheduled to commence trial operation in 2026.
To support the setting up of a trade organisation for the gold industry, the Government will set up a preparatory taskforce to engage a wide range of local and international stakeholders, with a view to promoting industry collaboration and facilitating the formation of a self-governing industry body. The preparatory taskforce will also hold in-depth discussions on details such as the structure, membership and financial arrangements of the future industry organisation.
Mr Hui added, “Through the upcoming preparatory taskforce, we look forward to further strengthening our collaboration with the industry. The future industry organisation will help enhance communication with the Government and regulators, and play an instrumental role in business development, global promotion, international co-operation and talent nurturing, thereby contributing to the long-term development of Hong Kong’s gold market.”