Author: MIL-OSI Publisher

Source: Hong Kong Government special administrative region – 4

     Following are the special remarks by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the 10th Belt and Road Summit – Business Networking Luncheon on “Connecting Growth Corridors – ASEAN and the Belt and Road” today (September 11):
 
Luanne (Chief Executive Officer, Hong Kong, of The Hongkong and Shanghai Banking Corporation Limited (HSBC), Ms Luanne Lim), Algernon (Secretary for Commerce and Economic Development, Mr Algernon Yau), Professor Frederick Ma (Chairman of the Hong Kong Trade Development Council), distinguished guests, ladies and gentlemen,
 
     It is my great pleasure to join you at this exclusive luncheon hosted by HSBC during the Belt and Road Summit. My heartfelt congratulations to HSBC for convening this distinguished gathering of ASEAN (Association of Southeast Asian Nations) and local business leaders under the theme “Connecting Growth Corridors – ASEAN and the Belt and Road”. This occasion exemplifies Hong Kong’s pivotal role as a super connector, fostering open dialogue and forging partnerships to drive the Belt and Road Initiative (BRI) forward.
 
     Since its inception in 2013, the BRI has been guided by the core principles of connectivity, openness, mutual respect, and shared prosperity. Over the past decade, its scope has expanded remarkably, fostering co-operation across continents through physical infrastructure, trade networks, and increasingly, technological collaboration. This dynamic evolution positions the BRI as a powerful platform for sustainable growth, with Hong Kong as a key contributor, facilitating seamless connections between Mainland China, ASEAN, and global markets. Our strategic location, robust financial systems and world-class professional services make Hong Kong the ideal hub for BRI-related investments and partnerships. In fact, we have signed Comprehensive Double Taxation Agreements with 37 Belt and Road jurisdictions, facilitating business expansion and investment.
 
     Hong Kong’s financial markets are thriving, reflecting the confidence and resilience that underpin our role in the BRI. In the first eight months of this year, our stock market achieved an average daily turnover of US$31.9 billion, a 132 per cent increase over the same period of last year. Funds raised through initial public offerings (IPOs) soared to US$17.3 billion, up 579 per cent. These figures highlight Hong Kong’s status as a premier global IPO hub, offering BRI enterprises unparalleled access to capital, underpinned by our rule of law, simple tax regime, and deep market connectivity. Earlier in August, a mining company rooted in Kazakhstan successfully listed on in our market, showcasing the results of co-operation between Hong Kong and Central Asia in advancing the BRI initiative. This also marks the Central Asia’s first case of an IPO financed in RMB (Renminbi).
 
     Besides the stellar performance of our stock market, we have also proudly launched a company redomiciliation regime this year, and some leading international insurance companies have already taken advantage of that. This initiative provides a secure and efficient pathway for overseas companies to redomicile to Hong Kong, enabling them to leverage our financial ecosystem to support more expansion initiatives including BRI projects. With the Companies Registry’s efficient approval process and our collaboration with offshore jurisdictions to streamline deregistration, we invite businesses to make Hong Kong their strategic base for navigating global uncertainties and driving BRI growth.
 
     And on the risk management front, Hong Kong is solidifying its position as Asia’s leading insurance hub, critical for BRI enterprises managing complex cross-border projects. With some 160 authorised insurers and last year’s gross premiums of HK$637.8 billion, Hong Kong ranks first in Asia for insurance density and globally for penetration at 18.2 per cent. Captive insurance, offering tailored risk solutions, is gaining momentum, with new entrants like HSBC bringing our total to six captive insurers. Our incentives, including a 50 per cent profits tax reduction, simplified capital requirements and a robust pool of insurance professionals, make Hong Kong the ideal base for managing BRI-related risks, from infrastructure to cybersecurity.
 
     Looking ahead, Hong Kong is committed to deepening BRI co-operation. Through initiatives like mutual market access with the Greater Bay Area, proactive outreach to global enterprises, and promotion of our insurance and financial strengths, we are empowering ASEAN and BRI partners to seize opportunities, manage risks, and achieve shared prosperity.
 
     In closing, I commend HSBC for hosting this platform to strengthen ties and drive collaboration. Let us harness Hong Kong’s unique advantages to advance the Belt and Road Initiative, connecting growth corridors and building a sustainable future together. Thank you, and I wish you a productive and inspiring luncheon.

Source: Hong Kong Government special administrative region – 4

The Department of Health (DH) announced today (September 11) that the Acquired Immune Deficiency Syndrome (AIDS) hotline service under the Special Preventive Programme of the Centre for Health Protection will be temporarily suspended tomorrow (September 12) from 5.15pm to 11pm due to a maintenance check.
 
The free and anonymous AIDS hotline (2780 2211) provides the public with information about AIDS and sexually transmitted infections as well as a Human Immunodeficiency Virus antibody testing booking service.
 
The public may also visit relevant websites for more information on HIV antibody testing, namely the Virtual AIDS Office (www.aids.gov.hk), the Red Ribbon Centre (www.rrc.gov.hk), the HIV Testing Service website (www.hivtest.gov.hk) and the Gay Men HIV Information website (www.21171069.gov.hk).

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 launch of Oman’s First Energy Transition Fund: A Strategic Partnership between Future Fund Oman and Templewater co-hosted by the Oman Investment Authority and Templewater today (September 11):

His Excellency, Nasser Al-Busaidi (Ambassador of the Sultanate of Oman to China), Sheikh Nasser Al Harthy (Deputy President for Operations, Oman Investment Authority), Cliff (Chairman and Chief Executive Officer of Templewater, Mr Cliff Zhang), distinguished guests, ladies and gentlemen,

     Good afternoon. It is an honour and privilege to stand before you today, and I am thrilled to extend my heartfelt congratulations to the Oman Investment Authority (OIA) and Templewater for cohosting this exclusive ancillary event. This gathering is an excellent complement to the 10th Belt and Road Summit. Your initiative exemplifies the proactive spirit of international collaboration, and I applaud your efforts in bringing together senior executives, investors, and decision-makers to delve into strategic investment opportunities, cross-border partnerships, and innovative pathways for economic growth.
 
     The Belt and Road Summit itself, organised by the Hong Kong Special Administrative Region Government, stands as a premier global platform for advancing co-operation across the Belt and Road economies. Discussions in the Summit span critical sectors including finance and investment, innovation and technology, professional services, and infrastructure, all aimed at harnessing the immense opportunities presented by the Belt and Road Initiative (BRI).
 
     Hong Kong’s role in this initiative is pivotal: we serve as the primary platform and super connector, leveraging our economic strengths, world-class talent, and unique position under “one country, two systems” to bridge East and West. By hosting this ancillary event, the OIA and Templewater are not only amplifying these dialogues but also highlighting Hong Kong’s function as a gateway for capital flows and innovation between regions like Oman and Mainland China.
 
     Now, allow me to turn our attention to the remarkable progress in Oman-China relations, which deserves our warmest congratulations. Oman has emerged as a key partner in the Belt and Road Initiative, deepening its strategic partnership with China in ways that align perfectly with Oman’s Vision 2040 for economic diversification and China’s BRI objectives. In recent years, this collaboration has expanded across trade, investment, energy, infrastructure, and emerging sectors such as renewables, technology, and digital economy.
 
     As we envision the next phase of this collaboration, Hong Kong is uniquely positioned to further facilitate and elevate Oman-China economic ties, drawing on our status as a leading international financial centre. Under “one country, two systems”, Hong Kong boasts a robust legal system, free capital flows, simple taxation, and a well-respected regulatory environment that attracts global investors. We are the world’s largest offshore Renminbi (RMB) centre, facilitating seamless cross-border settlements and promoting RMB internationalisation along BRI routes. This is especially pertinent for Oman-China projects, where Hong Kong can bridge financing needs for infrastructure, green energy, and technology ventures, enabling efficient capital allocation and risk management.
 
     Our financial markets are experiencing great vitality, as reflected in the latest statistics. For the first eight months of this year, the Hong Kong stock market’s average daily turnover reached US$31.9 billion, a remarkable 132 per cent increase from the same period last year. Funds raised through initial public offerings totalled US$17.3 billion, surging 579 per cent. These figures underscore growing investor confidence and our market’s remarkable financing capability. There are now more than 100 Belt and Road companies listed on our stock exchange, and we expect more to come.
 
     Beyond traditional finance, Hong Kong excels in green and sustainable finance, ESG (environmental, social and governance) investments, and carbon markets that align with Oman’s renewables ambitions and China’s digital-green BRI focus. For instance, we can connect the OIA’s sovereign wealth with Chinese enterprises through joint ventures, co-investments, and innovative financing structures.
 
     Furthermore, Hong Kong’s role extends to digital innovation and professional services, where we support BRI projects through fintech solutions, legal arbitration, and talent exchanges. By strengthening linkages with Oman and China, we can unlock new avenues in areas like smart logistics, e-commerce, and renewable energy infrastructure, ensuring that collaborations are not just transactional but transformative.
 
     In essence, Hong Kong is more than a facilitator – we are a catalyst for deeper, more resilient Oman-China co-operation. Through our financial prowess, innovative ecosystems and unwavering commitment to the BRI, we can help shape a shared future of inclusive growth, sustainability, and mutual prosperity.
 
     Thank you once again to the OIA and Templewater for this gracious invitation. I eagerly anticipate the opportunity to forge even stronger ties that will benefit our economies and peoples for generations to come. Thank you.
 

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (September 11) that in view of a notification from the World Organisation for Animal Health (WOAH) about an outbreak of highly pathogenic H5N1 avian influenza in the Province of Guadalajara of Castilla-La Mancha in Spain, the CFS has instructed the trade to suspend the import of poultry meat and products (including poultry eggs) from the area with immediate effect to protect public health in Hong Kong.

A CFS spokesman said that according to the Census and Statistics Department, Hong Kong imported about 50 tonnes of frozen poultry meat, and about 50 000 poultry eggs from Spain in the first six months of this year.

“The CFS has contacted the Spanish authority over the issue and will closely monitor information issued by the WOAH and the relevant authorities on the avian influenza outbreak. Appropriate action will be taken in response to the development of the situation,” the spokesman said.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

     ​Invest Hong Kong (InvestHK) announced today (September 11) that Canadia Bank, one of Cambodia’s leading financial conglomerates, has established a representative office in Hong Kong. This was approved by the Hong Kong Monetary Authority (HKMA) and marks a significant step in strengthening the economic ties between Hong Kong and Cambodia, as well as between the city and the broader Association of Southeast Asian Nations (ASEAN) region.
 
     This milestone follows the pivotal meeting in Cambodia in July 2024 between a delegation led by the Chief Executive, Mr John Lee, and the Chairman of Canadia Integrated Group, Dr Pung Kheav Se. The meeting centred on the unique advantages of Hong Kong as Asia’s leading international financial centre and opportunities to deepen collaboration between the two places. These considerations laid the foundation for this new establishment, which aims to foster mutual growth and prosperity.
 
     Founded in 1991, Canadia Bank is part of the Canadia Integrated Group, and offers a comprehensive suite of banking services to individuals, businesses, and corporations. With total assets of US$8.6 billion, Canadia Bank Plc currently has 69 operating branches and 430 self-service digital devices in Cambodia, as well as a subsidiary in Laos.
 
     Canadia Integrated Group comprises a financial and non-financial group with total assets of US$15 billion and a total of 17 500 employees. The financial group is led by Canadia Investment Holding, which offers a number of financial services including banking, microfinance, life and general insurance, securities, and trusts. The non-financial group is led by Overseas Cambodian Investment Corporation, and its primary business activities are infrastructure, construction and property development, education, hotel and medical services. Established in 2003, the company is the largest and leading infrastructure and property developer in Cambodia by investment size and number of projects developed, with notable projects such as the Techo International Airport (a new airport near the capital city of Phnom Penh), Diamond Island Satellite City, Norea Island Satellite City, Chroy Changvar Satellite City and the Olympia City Complex.
 
     The Director-General of Investment Promotion, Ms Alpha Lau, said, “We are delighted to welcome Canadia Bank to Hong Kong as they establish their representative office here. Hong Kong continues to be the preferred hub for ASEAN companies seeking to access global markets. We look forward to supporting Cambodian companies in expanding their business through leveraging Hong Kong’s capital markets and connecting with strategic partners in the region.”
 
     “Hong Kong has a world-class financial system and professional services that can contribute to Cambodia’s economic development, while Hong Kong can also gain many business opportunities during the process. InvestHK will continue to work closely with the HKMA to attract more banks to set up in Hong Kong and enrich the city’s financial market,” she added.
 
     Dr Pung, who is also the Chairman of Canadia Bank, said, “The opening of our first representative office in the the city marks a significant step in our expansion plan via Hong Kong. We appreciate the support from InvestHK during the process, including setting up meetings with the regulators in Hong Kong, providing us with useful information about the licensing requirements and procedures, and connecting us with service providers.”
 
     “In commencing operations of the new world-class Techo International Airport in Phnom Penh on September 9, we will strive to continue strengthening economic ties between Cambodia and Hong Kong through our representative office as well as leveraging Belt and Road Initiative opportunities,” he added.
 
     The Belt and Road Initiative has played a pivotal role in fostering closer economic integration between Hong Kong and Cambodia. The establishment of Canadia Bank’s representative office contributes to advancing trade and investment co-operation and bringing long-term benefits to both economies.
 
     In 2024, China was Cambodia’s largest trading partner, with bilateral trade surpassing US$18 billion, marking a 21 per cent increase compared to 2023. This strong growth trend underscores the importance of building an efficient financial network to support the increasing volume of cross-border trade and investment activities, further reinforcing Hong Kong’s role as a regional financial hub.
 
     To download the event photo, please visit: www.flickr.com/photos/investhk/albums/72177720328947976/.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Mortgage Corporation Limited (HKMC) announced that it has signed a Memorandum of Understanding (MOU) with the China International Capital Corporation Limited (CICC) in Hong Kong, China on co-operation of infrastructure financing and securitisation (IFS).

     Both parties will enhance co-operation across multiple areas, such as making joint efforts to tap into capital market opportunities related to infrastructure assets, expanding the investor base as well as exploring Renminbi opportunities for infrastructure loan securitisation, with a common goal of consolidating Hong Kong’s position as an infrastructure financing hub and facilitating infrastructure investment and financing flows.

     The Executive Director and Chief Executive Officer of the HKMC, Mr Colin Pou commented, “The HKMC’s IFS platform has grown tremendously in the past few years, and we continue to expand our collaboration with industry participants in promoting the market. A partnership with the CICC is expected to assist in taking our business to the next level, enabling both sides to further pursue a common goal in promoting Hong Kong as an infrastructure financing hub. “

     The Chairman of the Board of Directors and the Chairman of the Management Committee of the CICC, Mr Chen Liang stated, “The CICC has a long history of deep engagement in the international financial markets, which enables us to integrate a global perspective with profound insights about the Chinese market. We sincerely look forward to enhancing collaboration with the government-owned platform of the Hong Kong Special Administrative Region, as this partnership holds significant potential to elevate China’s role in global finance, amplifies our influence among international clients and investors, and drives a new phase of high-level opening up.”
 
About HKMC
 
     The HKMC, established in 1997, is wholly-owned by the Hong Kong Special Administrative Region Government through the Exchange Fund. Operating on prudent commercial principles, the HKMC strives to promote stability of the banking sector, wider home ownership, as well as development of the local debt market and retirement planning market.
 
     To further its mandates on promoting banking sector stability and local debt market development, the HKMC commenced the implementation of the infrastructure financing and securitisation business in 2019, with the aims to fill the infrastructure financing market gaps and to facilitate more efficient capital flow into infrastructure projects.

     The HKMC has issued Infrastructure Loan Backed Securities (ILBS), Bauhinia 1, in May 2023, and Bauhinia 2 in September 2024, with a total value of approximately US$405 million and US$423 million respectively to institutional investors. The issuance of the ILBS represents an important step taken by the HKMC towards developing an infrastructure financing and securitisation platform in Hong Kong to solidify Hong Kong’s status as the global infrastructure financing hub.
 
About CICC
 
     The China International Capital Corporation Limited (CICC, 601995.SH, 3908.HK) was established in 1995. The CICC’s experience in professional services includes leading multiple milestone transactions, demonstrating its deep engagement in China’s economic reform and development. The CICC’s vision is to become a respected, innovation-driven, leading global investment banking institution. As an investment banking institution with Chinese roots and international reach, the CICC continues bringing first-class financial services through its extensive network and outstanding cross-border capability to help its clients accomplish their strategic development goals.

Source: Republic of China Taiwan

Vice Minister of Economic Affairs Chien-hsin Lai led a delegation to attend the “15th APEC Energy Ministerial Meeting,” held on August 27-28 in Busan, South Korea. He shared Taiwan’s achievements in renewable energy development, strategies for enhancing grid resilience, and examples of artificial intelligence (AI) applications in the energy sector. Representatives from member economies and industries at the meeting unanimously recognized the importance of pursuing strong, balanced, secure, and sustainable economic growth.

The meeting was chaired by Minister Kim Jung-Kwan of South Korea’s Ministry of Trade, Industry and Energy. Member economies unanimously approved the post-meeting Joint Statement on the Energy Ministerial Meeting, announcing the theme chosen by the host Korea: “accelerating sustainable, affordable, reliable, secure, and innovative energy for a prosperous future.” The statement emphasizes accelerating energy system modernization and innovation through the development and deployment of technologies. The joint statement also highlights consensus reached by each economy to broaden access to energy supplies by reinforcing power grids as well as developing and enhancing resilience of other energy infrastructure, while respecting the energy security of each economy, and to promote the secure adoption of a broad range of technologies in a responsible manner, including digital and emerging technologies such as AI.

In his remarks at the opening ceremony, Vice Minister Lai highlighted that Taiwan’s offshore wind power capacity had risen to fifth in the world in 2024, with the country ranking second globally in annual newly installed offshore wind capacity, demonstrating the effectiveness of Taiwan’s energy diversification strategy. During the discussion on “Electricity Expansion for a Stable Supply,” he emphasized that Taiwan, as a densely populated island economy, faces continuously growing electricity demand and a centralized grid structure. Since 2022, Taiwan has implemented the “Grid Resilience Strengthening Construction Plan,” focusing on decentralized grid, robust grid engineering, and enhanced system protection. Complemented by the deployment of microgrids and energy storage systems, the plan aims to ensure the stability of the power supply system and prevent single incidents from causing widespread, prolonged outages.

On the topic of “Strengthening Grid Security and Reliability” during the meeting, member economies agreed on the importance of expanding transmission capacity and modernizing the grid, through energy storage systems and cross-border electricity trade to ensure regional power stability. Vice Minister Lai shared that Taiwan is committed to improving the flexibility of power dispatch and balancing electricity demand during peak and off-peak periods, while simultaneously promoting the deployment of energy storage systems at both the generation and consumer ends. In addition, the government is investing nearly USD 20 billion to build a more robust power system, enhance information transparency, and apply AI technologies to improve energy efficiency, thereby further enhancing grid security and reliability.

During the session on “AI-Driven Energy Innovation,” Vice Minister Lai emphasized Taiwan’s commitment to AI development. Beyond its application in high-tech industries, this innovative technology is also being extended to small and medium-sized enterprises. As an example, the “Adaptive Cold Energy Management System (ACEMS)” implemented in convenience stores leverages intelligent energy management to effectively reduce peak loads and overall energy consumption, achieving average energy savings of 10-15%.

The Ministry of Economic Affairs noted that through participation in this year’s APEC Energy Ministerial Meeting, Taiwan engaged in in-depth bilateral exchanges with the host, South Korea, and over one-third of member economies on topics such as renewable energy, grid resilience, and AI applications. Taiwan has utilized this important multilateral platform to demonstrate its determination in promoting energy security and resilience, while continuing to deepen cooperation and connections with international partners in the pursuit of energy transition.

Spokesperson for Energy Administration, Ministry of Economic Affairs: Deputy Director General, Chih-Wei Wu
Contact Phone Number: 02-2775-7750, 0922-339-410
Email Address: cwwu@moeaea.gov.tw

Business Contact: Director, Fang-Ling Liao
Contact Phone Number: 02-2775-7710, 0912-089-923
Email Address: flliao@moeaea.gov.tw