Speech by Permanent Secretary for Financial Services and the Treasury (Financial Services) at Climate Finance Forum: The Road to Net Zero (English only) (with photos)

Source: Hong Kong Government special administrative region

     Following is the speech by the Permanent Secretary for Financial Services and the Treasury (Financial Services), Ms Salina Yan, at the Climate Finance Forum: The Road to Net Zero today (September 10):
 
Bonnie (Chief Executive Officer of the Hong Kong Exchanges and Clearing Limited (HKEX), Ms Bonnie Chan), Dirk (President and Chief Executive Officer of the International Emissions Trading Association (IETA), Mr Dirk Forrister), Mary (Vice Chair of the Glasgow Financial Alliance for Net Zero (GFANZ) and Head of the GFANZ Secretariat, Ms Mary Schapiro), distinguished guests, ladies and gentlemen,
 
     It is my great pleasure to join you at the Climate Finance Forum this morning.
 
     A lot of pertinent views and initiatives for action have been raised for achieving net zero over the past two days of the Hong Kong Green Week 2025. Financing is a critical part of the formula. As an eminent fundraising platform, the HKEX is well placed to host a forum on such an important topic, drawing on the reflections from the International Carbon Markets Summit held in this very same venue earlier this year. As an international financial centre with openness to the world and the unique advantage of connecting with the Mainland market, Hong Kong is keen to bring together market participants, experts and policymakers to deepen the dialogue and foster collaboration on climate finance.
 
     Hong Kong is staying its course on the green and sustainable agenda even as world co-operation on this is being put to the test. The Government has made clear policy commitments and set out concrete action plans to advance our role as a green finance hub, encouraging efficient asset allocation, innovation and public and private partnership to build an enabling ecosystem along the way.
 
     For example, it is well noted that Hong Kong arranges 45 per cent of green and sustainable bonds done through the region, leading the Asian market. We also have over 200 authorised environmental, social and governance (ESG) funds with over HK$1.1 trillion AUM (assets under management), an increase of 18 per cent from three years ago.
 
     Added to these, we have introduced two batches of tokenised government green bonds, and are earnestly preparing for the third issuance. Our plan is to regularise the issuance of tokenised bonds.
 
     With the same innovative spirit and recognising the long R&D (research and development) cycles and capital-intensive nature of innovation, the HKEX has introduced a dedicated listing channel for specialist companies developing breakthrough technologies, including those focusing on new energy, advanced materials, and environmental protection.
 
     There has been an active stream of listings of electric vehicles (EV), EV supply chains, energy storage, and hydrogen energy on the Hong Kong Stock Exchange. The market capitalisation of the new energy sector now stands at US$806 billion, an impressive six-fold growth compared with that of 10 years ago and representing over 13 per cent of the total Hong Kong stock market. Without a doubt, the HKEX is now one of the world’s largest EV fundraising/investment platforms.
 
     Talking about new energy, the HKSAR (Hong Kong Special Administrative Region) Government has promulgated an Action Plan on Green Maritime Fuel Bunkering, setting out an ambitious target to develop Hong Kong into a premier green maritime fuel bunkering and trading centre. We are also promoting the application of sustainable aviation fuel (SAF) at Hong Kong International Airport and will announce an SAF consumption target within this year.
 
     With the setting up of the international carbon marketplace, Core Climate, for the trading of voluntary carbon credits, Hong Kong has taken one big step forward in advancing the carbon credit tool to encourage corporate decarbonisation. No doubt, Paul (Group General Counsel and Group Chief Sustainability Officer of the HKEX, Mr Paul Chow) will share with you more on this later this morning. For now, it is worth pointing out that Core Climate is currently the only carbon marketplace that offers Hong Kong Dollars and Renminbi settlement, and there has been substantial Belt and Road region participation in the 60-plus projects handled by Core Climate so far.
 
     Sustainability information disclosure provides the necessary transparency for the buy and sell sides as well as for general societal benefit. Last year, the Financial Services and the Treasury Bureau launched a Roadmap on Sustainability Disclosure in Hong Kong setting out the pathway for large publicly accountable entities to fully adopt the ISSB Standards (International Financial Reporting Standards – Sustainability Disclosure Standards) of disclosure. The Hong Kong Institute of Certified Public Accountants has since published the Hong Kong Sustainability Disclosure Standards. In June 2025, Hong Kong was confirmed by the International Financial Reporting Standards (IFRS) Foundation as among the first set of jurisdictions having set a target of fully adopting the ISSB Standards. The HKEX acts even faster and became one of the first exchanges to update climate disclosure requirements in reference to IFRS S2.
 
     As part of the sustainability disclosure ecosystem, the Accounting and Financial Reporting Council plans to release a proposed local regulatory framework for sustainability assurance for public consultation within this year, covering issues such as the entities required to obtain assurance; the scope, timing as well as providers of assurance, etc. We look forward to the exchange of views at the Forum on Sustainability Disclosures this afternoon.
 
     Hong Kong is a steadfast believer in multilateral efforts and solutions. We are glad to have the presence of the International Emissions Trading Association and the Glasgow Financial Alliance for Net Zero today. Through collaborations and concerted efforts, as well as empathy for the well-being of planet Earth, we have the potential to create a sustainable and resilient future, turning vision into action and reality. With these remarks, I wish all of you a fruitful Forum today. Thank you.

        

Govt recruitment starts Sept 13

Source: Hong Kong Information Services

The Government announced that it will launch an exercise to recruit graduate grade civil servants from September 13 until October 3.

 

The openings include 40 administrative officers (AOs), 100 executive officers II, 10 assistant labour officers II, eight assistant trade officers II and 10 management services officers II.

 

The recruitment is open to all permanent residents of the Hong Kong Special Administrative Region who meet the relevant entry requirements. Students pursuing a bachelor’s degree or equivalent and graduating in the 2025-26 or 2026-27 academic years may also apply.

 

Details of the joint recruitment exercise and the online application system will be available on the Civil Service Bureau’s (CSB) website from this Saturday. Information on hiring AOs is also available on another dedicated website.

 

People who wish to apply for any of the five posts must take the Basic Law & National Security Law Test and attain a pass result in order to be considered for appointment, the Government added.

 

Applicants must apply online through the CSB website, and may visit the relevant webpage for updates on the examination arrangements.

LCQ10: Regulation of digital assets

Source: Hong Kong Government special administrative region

     Following is a question by Dr the Hon Tan Yueheng and a written reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (September 10):
 
Question:
 
     Since the Stablecoins Ordinance (Cap. 656) (the Ordinance) came into effect on the first of last month, non-permitted offerors have been prohibited from offering stablecoins to retail or professional investors. However, it has been reported that as virtual asset over-the-counter (OTC) trading institutions (including money changers) are currently not classified as permitted offerors under the Ordinance, some OTC trading institutions can take advantage of the grey areas of the Ordinance, such as through passive trading or customer-initiated quotes, to continue operation while circumventing the Ordinance, hence posing risks to investors and increasing industry uncertainty. In this connection, will the Government inform this Council:
 
(1) of the current measures in place to prevent, address, and regulate the aforesaid circumvention of the Ordinance by non-permitted offerors; whether it will release specific guidelines or examples to further clarify what constitute transactions or operational activities that are not explicitly defined in the Ordinance;
 
(2) as it has been reported that under the current regulatory framework, retail investors may switch to trading on offshore platforms not regulated by the Ordinance or using P2P transactions, hence subjecting them to higher investment risks, how the Government will strike a balance between strict regulation and market demand, including improving the regulatory regime, expediting licensing approvals, strengthening investor education, and broadening the scope of tradable assets (e.g. compliant stablecoins), to protect the interests of retail investors; and
 
(3) given that the Government issued a consultation paper in June this year on legislative proposals for regulating digital asset dealing and custodian services, of the progress of the establishment of the licensing regime and the legislative timetable; if there is a legislative timetable, of the details; if not, the reasons for that?
 
Reply:
 
President,
 
     The Stablecoins Ordinance (Cap. 656) (Ordinance) came into effect on August 1, 2025. One of its purposes is to regulate the issue of specified stablecoins and impose restrictions on the persons who may offer specified stablecoins, with a view to protecting holders and potential holders of specified stablecoins.
 
     After consultation with the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), the reply to the various parts of the question is as follows:
 
(1) Under section 9 of the Ordinance, currently only “permitted offerors” may offer specified stablecoins. At present, the Ordinance specifies five types of “permitted offerors”, namely (1) licensed stablecoin issuers; (2) virtual asset service providers licensed by the SFC; (3) persons with a stored value facility licence; (4) corporations licensed by the SFC to conduct Type 1 regulated activities; and (5) authorised institutions. “Permitted offerors” may offer stablecoins issued by licensed issuers regulated by the HKMA (i.e. regulated stablecoins) to both retail and professional investors; however, unregulated stablecoins may only be offered to professional investors (as defined in section 1 of Part 1 of Schedule 1 to the Securities and Futures Ordinance (Cap. 571)).
 
     Virtual asset over-the-counter (OTC) trading institutions are not “permitted offerors” under the Ordinance, and therefore cannot offer specified stablecoins to retail or professional investors, regardless of whether such stablecoins are regulated.
 
     During the initial implementation of the Ordinance, the HKMA will step up publicity efforts to enhance the industry’s understanding of the Ordinance and promote the industry’s compliance with its relevant requirements. At the same time, the HKMA will monitor transactions involving stablecoin in the market. If a suspected contravention of the Ordinance is identified, the HKMA will consider follow-up action based on the relevant facts and evidence.
 
(2) As mentioned above, under the Ordinance, currently only “permitted offerors” are permitted to offer specified stablecoins. Members of the public must note that the HKMA has not licensed any stablecoin issuer yet. While the Ordinance offers protection to members of the public who purchase regulated stablecoins from “permitted offerors” as specified in the Ordinance, members of the public who acquire stablecoins through unregulated channels or acquire any unregulated stablecoins will have to bear their own risk.
 
     The HKMA will continue to conduct public education through various channels, including social media platforms, to enhance public understanding of the Ordinance.
 
(3) In the “Policy Statement 2.0 on the Development of Digital Assets in Hong Kong” issued in June 2025, the Financial Services and the Treasury Bureau (FSTB) has made clear that enhancing the legal and regulatory framework is one of the key focuses in promoting the development of the digital asset sector. Guided by the principle of “same activity, same risks, same regulation” under a risk-based approach, the Government and financial regulators will continue to enhance and establish a regulatory framework that reflects local circumstances and aligns with international standards and practices, with a view to providing a solid foundation for the healthy, responsible and sustainable development of the digital asset market in Hong Kong.
 
     The FSTB and the SFC recently conducted a public consultation on the legislative proposals for the licensing regimes for digital asset dealing and custodian service providers from June 27 to August 29, 2025. The FSTB and the SFC are formulating details of the licensing regimes based on the views received from the public consultation, and will announce the legislative timetable in due course.

President Lai receives credentials from new Haiti Ambassador Roudy Stanley Penn  

Source: Republic of China Taiwan

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2025-09-03
President Lai meets delegation led by Saint Lucia Deputy Prime Minister Ernest Hilaire  
On the afternoon of September 3, President Lai Ching-te met with a delegation led by Saint Lucia Deputy Prime Minister and Minister for Tourism, Investment, Creative Industries, Culture and Information Ernest Hilaire. In remarks, President Lai thanked Saint Lucia for long supporting Taiwan’s international participation. He also expressed hope that the two countries will continue to expand and diversify collaboration to contribute even more to our nations’ prosperous development and to global progress. A translation of President Lai’s remarks follows: I extend a warm welcome to Deputy Prime Minister Hilaire as he leads a delegation to Taiwan once again. Our previous meeting was in 2023, when I was serving as vice president. We had an in-depth discussion on many topics here at the Presidential Office. It is truly a pleasure to see Deputy Prime Minister Hilaire again today. I am also delighted to meet with Minister for Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs Emma Hippolyte and Minister for Equity, Social Justice and Empowerment Joachim Andre Henry. I am sure that through this visit, you will gain an even more comprehensive understanding of Taiwan. In recent years, Taiwan and Saint Lucia have cooperated ever more closely in such areas as agriculture, education, public health, and infrastructure. This has further deepened our diplomatic alliance. Since taking office, Prime Minister Philip J. Pierre has focused especially on education, talent cultivation, and youth development. These goals align closely with Taiwan’s policy position. We believe that talent, particularly that of the next generation, is the foundation of national development, and it is the most important investment our nations can make together. Cooperation between Taiwan and Saint Lucia to nurture talent has already yielded fruitful results. In June, I met a PhD graduate from Saint Lucia at Central Police University’s graduation ceremony. I hope that he, along with other international alumni from Taiwanese universities, will be able to make important contributions to their nations’ development. This year, we launched the Taiwan Global Pathfinders Initiative and its Diplomatic Allies Inbound Track. In a few days, three young Taiwanese will travel to your nation for internships in government agencies, and at the end of this month, two young Saint Lucians will come to Taiwan for internships in agriculture and tourism. In addition to education and talent exchange, last month, Taiwan’s International Cooperation and Development Fund and Saint Lucia’s Youth Economy Agency jointly launched an e-commerce platform. This is an important step forward for the digital transition. It will also help boost the entrepreneurial opportunities of Saint Lucian youth as they enter the international market. In areas such as overseas study, internships, professional training, and digital cooperation, Taiwan is willing to share even more experience with Saint Lucia as we embrace the world. On behalf of the people of Taiwan, I would like to thank Saint Lucia for long voicing support for Taiwan and its international participation at global venues. Looking ahead, let us continue to expand and diversify our collaboration to contribute even more to our nations’ prosperous development and to global progress. Deputy Prime Minister Hilaire then delivered remarks, first saying that the delegation is most grateful for the welcome they received from the people and government of Taiwan. He said that Saint Lucia considers Taiwan not just a partner, but a true and enduring friend, and that relations have always been grounded in mutual respect, trust, and an unwavering commitment to national development. He emphasized that Saint Lucia remains steadfast in its support of Taiwan’s aspiration for national independence, territorial integrity, and sovereignty, and will continue to raise its voice for the international community to recognize Taiwan’s capacity to contribute meaningfully to the global system and to the building of a better future for all of humanity. Taiwan’s friendship with Saint Lucia, the deputy prime minister said, is not only visible in diplomacy, but also in the everyday lives of Saint Lucia’s people. He went on to say that through small-scale community projects, Taiwan has touched the very fabric of his country’s society – improving livelihoods, enhancing opportunities, and uplifting quality of life in tangible and lasting ways. At the same time, he said, Taiwan has played a central role in Saint Lucia’s national development, most notably for its partnership in Hewanorra International Airport’s redevelopment and the St. Jude Hospital project – projects that will continue to shape the trajectory of Saint Lucia for generations to come. Deputy Prime Minister Hilaire stated that beyond infrastructure and community, Taiwan’s heart has been most evident in its people-to-people connections, and that the bonds forged through education, agriculture, and cultural exchanges are profound, exemplifying the true meaning of partnership. He added that Taiwan’s ambassador is admired across his nation, and has been present at their festivals, engaged in their programs, and has walked side by side with their people. It is through these deep and human connections, he said, that Taiwan shines as an example of friendship that is transformational. Deputy Prime Minister Hilaire brought special greetings from the prime minister of Saint Lucia, and affirmed Saint Lucia’s commitment to walk in this journey with Taiwan, hand in hand, as partners and as friends. Ours, he said, is a bond built not only on shared interests, but on shared values – values of dignity, sovereignty, and human progress. He then expressed hope that our friendship may continue to flourish, and that Taiwan’s light of resilience, innovation, and cultural richness may shine ever brighter on the global stage. The delegation was accompanied to the Presidential Office by Saint Lucia Ambassador Robert Kennedy Lewis.  

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2025-09-02
President Lai meets delegation from University of Tokyo cross-strait relations research group
On the afternoon of September 2, President Lai Ching-te met with a delegation from the University of Tokyo’s cross-strait relations research group. The president thanked the delegation for its long-time attention to the situation in the Taiwan Strait and peace and stability in the Indo-Pacific region. He also expressed hope for further strengthening the friendship and cooperation between Taiwan and Japan through exchanges. A translation of President Lai’s remarks follows: I am very pleased to welcome Professor Matsuda Yasuhiro and other friends from the Japanese academic community once again to the Presidential Office. I would like to thank the University of Tokyo’s cross-strait relations research group for its long-time attention to stability in the Taiwan Strait and peace in the Indo-Pacific region. Taiwan and Japan have close ties. The government of Japan has repeatedly reiterated the importance of peace in the Taiwan Strait to the Indo-Pacific region at various international venues. Moreover, when Taiwan was hit by typhoons and torrential rains in recent days, Prime Minister Ishiba Shigeru expressed condolences and support. For all of this, I am very thankful. I look forward to further strengthening the friendship and cooperation between Taiwan and Japan through in-depth exchanges with the delegation. Professor Matsuda then delivered remarks, first thanking President Lai for taking the time to meet with his delegation. He noted that the delegation members have long taken a close interest in Taiwan’s political and economic conditions as well as cross-strait relations, observing and studying them, and said that they are very much looking forward to discussing issues relevant to Taiwan and Japan. The delegation also included Senior Research Fellow at the Japan External Trade Organization Institute of Developing Economies Sato Yukihito, Professor Kawakami Momoko of Kanagawa University, Professor Eto Naoko of Gakushuin University, and Professor Momma Rira of Takushoku University.

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2025-09-02
President Lai meets delegation led by Tuvalu Speaker of Parliament Iakoba Taeia Italeli
On the afternoon of September 2, President Lai Ching-te met with a delegation led by Speaker of the Parliament of Tuvalu Iakoba Taeia Italeli and his wife. In remarks, President Lai thanked Tuvalu for long supporting Taiwan’s international participation and speaking up for Taiwan at global venues. President Lai expressed hope that Taiwan and Tuvalu will continue to closely cooperate in areas such as climate change and talent development, and work together to advance stability and prosperous development in the Asia-Pacific region. A translation of President Lai’s remarks follows: I welcome Speaker Italeli and Member of Parliament Seve Paeniu, who are leading this delegation to Taiwan. I would also like to thank Speaker Italeli and the Parliament of Tuvalu for their warm welcome during my visit to Tuvalu last year. On this occasion, Speaker Italeli and the delegation have come to attend the General Assembly of the Asian-Pacific Parliamentarians’ Union. This not only demonstrates support for Taiwan, but also attests once again to our nations’ determination to jointly advance stability and prosperous development in the Asia-Pacific region. As I emphasized in my remarks at the assembly’s opening ceremony, Taiwan will continue to demonstrate determination to safeguard regional peace. We will also boost cooperation with diplomatic allies and other nations in Asia to promote mutual prosperity and success throughout the region. Looking ahead, Taiwan will continue to work closely with Tuvalu across all domains to promote prosperous development in both nations. We will also jointly tackle such global challenges as climate change and expanding authoritarianism. One of Speaker Italeli’s areas of focus in Tuvalu is talent development. Through scholarship programs, healthcare and vocational training workshops, and the launch of the Taiwan Global Pathfinders Initiative – Diplomatic Allies Inbound Track Program this year, Taiwan will continue to invite even more young Tuvaluans to learn and conduct exchanges in Taiwan. In July, here at the Presidential Office, I met with some outstanding young people from Tuvalu participating in exchanges. I believe that through cooperative projects and visits between our two countries, the diplomatic alliance between Taiwan and Tuvalu will further deepen, underscoring our common belief in the universal values of democracy, freedom, and respect for human rights. On behalf of the people of Taiwan, I would like to take this opportunity to sincerely thank Tuvalu for long speaking up for Taiwan and supporting our international participation at global venues, including the United Nations General Assembly and the World Health Assembly. We will always remember these acts of friendship. We look forward to Taiwan and Tuvalu continuing to support each other, working with even more democratic partners to safeguard peace, stability, and prosperity in the Pacific. Speaker Italeli then delivered remarks, first conveying greetings and stating that Tuvalu is standing on the frontlines of climate change. Tuvalu is small in land, he said, but vast in its stewardship of the ocean, while the people of Tuvalu are rich in heritage, culture, and resilience. The speaker went on to say that despite this, the daily reality they face is stark, as rising seas threaten homes, saltwater intrusion contaminates crops and water, and storms of increasing intensity erode the land. For Tuvalu, Speaker Italeli said, climate change is not a theory; it is a lived struggle for survival, dignity, and the right to remain in their ancestral homeland. Speaker Italeli noted that in this existential struggle, Taiwan has proven itself a true and steadfast partner. He expressed appreciation for Taiwan’s assistance in reclaiming land in Tuvalu, supporting their agriculture sector, and enhancing connectivity through contributions to the Vaka Cable. He also expressed gratitude for the rollout of 4G services to Tuvalu’s outer islands, which has strengthened education, and for Taiwan’s health assistance. Speaker Italeli said that looking ahead, they also hope that Taiwan will continue supporting their renewable energy transition, enabling Tuvalu to reach its goal of 100 percent renewable energy by 2030. He then expressed gratitude for Taiwan’s commitment to supporting the construction of Tuvalu’s new parliament, which he stated is the living foundation of their democracy, where the voices of the people are heard, laws are made, and the destiny of the nation is shaped. Speaker Italeli then reaffirmed Tuvalu’s support for Taiwan in international fora, saying that Tuvalu knows the value of solidarity. In every gathering of nations, he said, Tuvalu will continue to stand proudly with Taiwan, just as Taiwan has stood with Tuvalu. Speaker Italeli stated that Tuvalu may be small, but their friendship with Taiwan is vast. They are bound not by size or distance, he said, but by values and spirit, and our shared belief in democracy, dignity, and resilience. Speaker Italeli said that the support of Taiwan for Tuvalu in health, agriculture, ICT, renewable energy, education, trade, and governance will not only shape this generation, but inspire generations yet to come. The delegation was accompanied to the Presidential Office by Tuvalu Ambassador Lily Tangisia Faavae.

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2025-08-28
President Lai attends opening ceremony of 53rd Asian-Pacific Parliamentarians’ Union General Assembly
On the morning of August 28, President Lai Ching-te attended the opening ceremony of the 53rd Asian-Pacific Parliamentarians’ Union (APPU) General Assembly. In remarks, President Lai thanked the APPU for long providing a platform for countries around the world to engage in legislative diplomacy, exchanges, and cooperation, promoting prosperity and progress in Asia. The president stated that Taiwan will adopt three initiatives in working together with other countries: demonstrating determination to safeguard regional peace, boosting cooperation with diplomatic allies, and leveraging the APPU platform to strengthen cooperation with other nations in Asia to jointly promote peace, prosperity, and economic development in the Asia-Pacific region. A translation of President Lai’s remarks follows: First, on behalf of the government and all the people of the Republic of China (Taiwan), I would like to welcome our distinguished guests from many countries who have come all the way to Taiwan to participate in the APPU’s 53rd General Assembly. The APPU’s predecessor, the Asian Parliamentarians’ Union, was an organization that former Japanese Prime Minister Kishi Nobusuke launched an initiative to found in 1965. This year marks the organization’s 60th year, and it is a great honor for Taiwan to host this year’s historic assembly. I would like to thank Speaker Han Kuo-yu (韓國瑜), president of the Legislative Yuan, Deputy Legislative Speaker Johnny C. Chiang (江啟臣), and members of both the ruling and opposition parties for taking on this important responsibility. I would also like express my gratitude to the APPU for providing this platform for many years for legislators from around the world to engage in legislative diplomacy, exchanges, and cooperation, promoting prosperity and progress in Asia. The theme of this year’s general assembly encompasses strengthening societal resilience and legislative cooperation in the Asia-Pacific region, with a special focus on sustainable economic development, boosting resilience in society, and promoting cooperation on all manner of issues. These not only closely align with Taiwan’s development needs, but are also very important matters in the Asian region currently. The Asia-Pacific has collectively faced various challenges including the SARS outbreak in the 2000s, the COVID-19 pandemic in the 2020s, climate change, and shifting geopolitics. Therefore, it is very important to find ways to build cooperation among different countries through the APPU platform. Taiwan will adopt three initiatives in working together with other countries: First, we will demonstrate determination to safeguard regional peace. There is already a strong consensus in the international community that peace and stability in the Taiwan Strait are indispensable to security and prosperity in the Indo-Pacific region. Taiwan not only has the responsibility to maintain its own security, but also has a duty to uphold peace and stability in the region. This is why Taiwan has adopted the Four Pillars of Peace action plan, the first pillar being to strengthen national defense. Next year, we will devote over 3 percent of GDP to defense spending, and we aim for defense spending, as it is defined by NATO, to reach at least 5 percent of GDP by 2030. The second pillar is to build economic resilience, helping Taiwanese businesses expand their global presence and international markets from a solid base here in Taiwan. From 2010 to last year, Taiwanese investment in China fell from 83.8 percent to 7 percent of total outbound investment. Our investment targets have now shifted to Japan, the United States, and Europe. Next is to strengthen cooperation with other countries, so as to uphold the spirit of democracy, freedom, and respect for human rights. Shoulder to shoulder, we will demonstrate the strength of deterrence and achieve peace through strength. Lastly, Taiwan is willing, on the condition of parity and dignity, to engage in exchanges and cooperation with China to promote peace and mutual prosperity across the strait. Second, we will boost all manner of cooperation with our diplomatic allies. Last year, I visited our allies Tuvalu, the Republic of the Marshall Islands, and the Republic of Palau. I was grateful for the warm welcome of the heads of state and legislatures of these three nations, and also witnessed Taiwan’s close collaboration with our allies in regard to climate change. Going forward, we will continue to strengthen all manner of cooperation with our allies, alongside Japan, the US, Australia, and other nations in Asia, to promote mutual prosperity and development. Third, Taiwan will leverage the APPU platform to strengthen cooperation with other nations in Asia. I ask that the legislators of APPU countries support all aspects of cooperation with Taiwan. Unity and cooperation are powerful, benefitting not only all member states, but also greatly benefitting prosperity and development in the region. To close, I wish the assembly great success and that the legislators here can take advantage of this visit to gain an even deeper understanding of Taiwan.

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2025-08-27
President Lai meets delegation from Inter-Parliamentary Alliance on China
On the afternoon of August 27, President Lai Ching-te met with a delegation from the Inter-Parliamentary Alliance on China (IPAC). In remarks, President Lai thanked IPAC for continuing to support Taiwan through concrete actions. President Lai emphasized that Taiwan will continue to bolster its national defense capabilities and deepen collaboration with democratic partners to enhance deterrence. The president expressed hope that IPAC, through its inter-parliamentary network, will be able to bring together even more like-minded partners to stand side by side in protecting democracy, peace, and prosperity in the region and around the world. A translation of President Lai’s remarks follows: I thank our dear friends from IPAC for visiting and for demonstrating staunch support for democratic Taiwan. In July last year, the largest ever multinational delegation of lawmakers visited Taiwan to attend IPAC’s annual summit in Taipei. The summit adopted an IPAC model resolution on United Nations General Assembly Resolution 2758 to help Taiwan counter China’s lawfare. Because of IPAC’s principled actions, the national parliaments of countries including the United Kingdom, the Netherlands, and the Czech Republic, as well as the European Parliament, have passed Taiwan-friendly resolutions or motions. The executive branches of numerous countries have also openly expressed support for Taiwan. We look forward to seeing even more countries join this effort. I also want to thank IPAC for continuing to support Taiwan through concrete actions this year. It expressed concern over China’s military exercises around Taiwan this April and condemned China for planning a collision with then-Vice President-elect Bi-khim Hsiao’s car during her visit to the Czech Republic last March. IPAC also arranged events to engage with Taiwan’s high-level delegation during the Copenhagen Democracy Summit held in Denmark.  In recent years, China has continued its political and military intimidation against Taiwan and neighboring countries. These actions have severely disrupted regional peace and stability. And as China, Russia, and other authoritarian regimes continue to converge, democracies must foster more comprehensive cooperation so as to safeguard peace, freedom, and democracy. Moving ahead, Taiwan will continue to bolster its national defense capabilities and deepen collaboration with democratic partners to enhance deterrence. Our defense spending, as defined by NATO, will reach 3.32 percent of GDP in 2026. And our goal is to increase that number to five percent of GDP by 2030. This will help Taiwan enhance its self-defense capabilities and further contribute to the maintenance of regional peace and stability. Taiwan will also work alongside other democracies in such fields as energy, AI, and high tech to build more resilient industrial structures and democratic supply chains, demonstrating greater unity, spurring greater economic prosperity, and further consolidating our democracy. Looking ahead, I hope that IPAC, through its inter-parliamentary network, will be able to bring together even more like-minded partners to stand side by side in protecting democracy, peace, and prosperity in the region and around the world. IPAC Co-founder and Member of the Parliament of the United Kingdom Iain Duncan Smith then delivered remarks, first thanking President Lai for taking the time to meet with them. He said that their visit here the last few days has been incredibly helpful to chart the course for IPAC over the next year. MP Smith said that IPAC will be holding a much bigger meeting in Belgium in November to discuss the rising challenge we face today. We see this challenge manifested in Ukraine, he pointed out, with Russia’s brutal invasion of that country, and the coming together of a threatening group of authoritarian states such as Iran, North Korea, and China, to support Russia in that endeavor. He said that this obviously has an impact on a variety of different areas, and particularly, what is happening there has an impact on the treatment of Taiwan in the future. What they wish, he underlined, is to draw the attention of all the governments that are part of IPAC to this issue and to stop authoritarian states from doing something similar here. MP Smith said that IPAC now has members from various parties in the parliaments of 53 countries who, whether on the left or right, cooperate together against the threat of the autocracy in China. They wish, he said, to bring together all of the freedom-loving states of the world to recognize the threat that is now posed to our democracies and freedoms, and to group together to protect those here in Taiwan.  The delegation also included former Foreign Minister of Poland Anna Fotyga, Member of the Swedish Riksdag (parliament) Magnus Berntsson, and IPAC Co-founder and Executive Director Luke de Pulford.

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2025-08-01
President Lai delivers remarks on US reciprocal tariff policy response
On the morning of August 1, President Lai Ching-te delivered remarks at the Presidential Office on the response to the reciprocal tariff policy of the United States. President Lai explained that technical consultations with the US are finished, but as the final concluding meeting has not yet taken place, 20 percent has been set for Taiwan as an interim tariff rate. The president said that Taiwan will work towards a more favorable and reasonable rate in the subsequent negotiations, and that the US has expressed its willingness to continue talks. He added that a support plan for Taiwan’s export supply chain in response to US tariffs has been proposed to assist small- and medium-sized enterprises (SMEs) in responding to the US tariff policy. A translation of President Lai’s remarks follows: Earlier today, the US government informed our lead negotiator, Vice Premier Cheng Li-chiun (鄭麗君), that an interim tariff rate for Taiwan has been set at 20 percent. Since April 2, when the US introduced its new tariff policy targeting countries worldwide, Taiwan has actively engaged in four in-person rounds of negotiation and multiple discussions over videoconference with the US government. Throughout the process, both sides have negotiated in good faith based on the shared goal of addressing the trade deficit between Taiwan and the US and creating complementary and mutually beneficial outcomes. Although we have achieved an interim reduction in the tariff rate from 32 percent to 20 percent at this point in the negotiations, 20 percent was never our goal. We hope to work towards a more favorable and reasonable rate for Taiwan in the subsequent negotiations, and the US has expressed its willingness to continue talks. We have finished technical consultations, but as the final concluding meeting has not yet taken place, a final tariff rate has not yet been reached. This is the reason for the setting of an interim tariff rate. I extend my sincere gratitude to Vice Premier Cheng and Minister without Portfolio of the Executive Yuan Yang Jen-ni (楊珍妮) for working tirelessly over the past few months leading the negotiation team, remaining on call whether in Taiwan or the US. From here in Taiwan I, along with Vice President Bi-khim Hsiao, National Security Council Secretary-General Joseph Wu (吳釗燮), Premier Cho Jung-tai (卓榮泰), and Secretary-General Pan Men-an (潘孟安), have also provided full support to our negotiating team in the US. Regardless of the final tariff rate, Taiwan’s industries will inevitably be impacted. I am deeply grateful to Premier Cho for proposing on April 4 a support plan for Taiwan’s export supply chain in response to US tariffs, and for holding over 20 industry consultation sessions. The special budget has also been increased from NT$88 billion to NT$93 billion. This special act has already been submitted to the Legislative Yuan and passed review. I hope that the Executive Yuan will promptly submit the budget request for legislative review so that the special budget can be implemented as soon as possible to assist SMEs in responding to this new US tariff policy.

Bilan positif pour la Nouvelle-Calédonie à la Pacific Infrastructure Conference 2025

Source: Gouvernement de la Nouvelle-Caledonie

Une délégation calédonienne, menée par le membre du gouvernement chargé de la construction et de l’innovation technologique Petelo Sao, s’est rendue à Brisbane du 18 au 20 août afin de participer à la Pacific Infrastructure Conference 2025. Une réunion était organisée mardi 9 septembre afin que chaque participant puisse faire un retour d’expérience sur sa participation à cet événement d’ampleur autour des infrastructures durables dans la région.

Organisée tous les deux ans, la Pacific Infrastructure Conference réunit à chaque édition des dirigeants et des acteurs publics et privés de la région, afin d’échanger sur les perspectives et les nouveautés liées aux infrastructures durables. Un sujet essentiel pour les îles du Pacifique qui rencontrent des défis de développement spécifiques liés à leur géographie, à leur connectivité limitée, à leur vulnérabilité au changement climatique et parfois à leur accès limité aux financements.

 

Une forte affluence pour une seconde édition riche en opportunités

Cette année, l’événement a rassemblé plus de 650 délégués, 80 intervenants et plus de 40 exposants issus d’une vingtaine de pays. Les sessions thématiques animées par des dirigeants du Pacifique ont affiché complet, reflétant un intérêt croissant de la part des cabinets de conseil, des entreprises de construction et des prêteurs pour les projets et les opportunités dans la région.

Parmi les temps forts de cette conférence, on notera notamment l’envoi par la Banque asiatique de développement (BAD) de l’une de ses plus importantes délégations à un événement économique régional du Pacifique, avec environ 25 représentants participant à des tables rondes et à des réunions bilatérales.

Les dirigeants du Pacifique, dont le membre du gouvernement, ont également présenté leurs priorités en matière d’infrastructures lors de sessions thématiques très fréquentées.

La conférence a aussi enregistré une forte participation des chambres de commerce et des représentants du secteur privé des îles du Pacifique, illustrant le rôle actif du secteur privé dans la définition des priorités  dans le domaine des infrastructures

Une vitrine pour la Nouvelle-Calédonie

La délégation calédonienne a eu l’occasion de s’exprimer lors de cette conférence avec notamment une intervention assurée par le membre du gouvernement Petelo Sao, comprenant un point sur le plan de reconstruction de la Nouvelle-Calédonie, une présentation du savoir-faire et des projets calédoniens liés à l’adaptation au changement climatique, la décarbonisation et l’innovation. Cette tribune a également permis de présenter le Référentiel de la construction de la Nouvelle-Calédonie (RCNC) et d’aborder la récente certification du Sland (matériau issu de la récupération des scories). La scorie qui a d’ailleurs été au cœur de certains débats puisqu’elle pourrait notamment intéresser les îles du Pacifique touchées par l’érosion.

 

Autre moment clé pour la Nouvelle-Calédonie, la signature entre le Conseil des entreprises des îles du Pacifique et de l’Australie (APIBC) et New Caledonia Trade and Invest, d’un mémorandum d’entente destiné à renforcer les liens économiques régionaux.

Des opportunités se sont également présentées pour les membres de la délégation venus du secteur privé (l’entreprise Bleuscope, la SLN, la Secal, l’entreprise Tokuyama, Arbe), avec, par exemple, des échanges individuels avec des partenaires de la région.

 

LCQ20: Reclamation project for Kau Yi Chau Artificial Islands

Source: Hong Kong Government special administrative region

​Following is a question by Dr the Hon Lo Wai-kwok and a written reply by the Secretary for Development, Ms Bernadette Linn, in the Legislative Council today (September 10):
 
Question:
 
     The Special Administrative Region Government has earlier on indicated that the Government would first concentrate its efforts on pressing ahead the development of the Northern Metropolis, while the pace to take forward the reclamation project for the Kau Yi Chau Artificial Islands (KYCAI project) could be slowed down. Nevertheless, the authorities would prudently complete the necessary preparatory work in the study stage. In this connection, will the Government inform this Council:
 
(1) given that in the reply to a question raised by a Member of this Council on the Estimates of Expenditure for the financial year 2025-2026, the Government indicated that the Civil Engineering and Development Department was reviewing and fine-tuning the relevant background information and project description in the Environmental Impact Assessment report for the KYCAI project, and would make the report available for public inspection in a timely manner, of the latest progress of the relevant work;
 
(2) of the studies being undertaken by the Government on the KYCAI project which seek to ensure that the construction works of the project can be commenced swiftly at appropriate times in the future; and
 
(3) whether a development timetable has been drawn up for the KYCAI project at present; if so, of the details; if not, the reasons for that?
 
Reply:
 
President,
 
     Land production takes time, involving various aspects of planning and studies, as well as the implementation of various land and infrastructure projects. It is the Government’s responsibility to plan ahead and lead land development with a long-term perspective, ensuring that adequate land is supplied in a timely manner to support Hong Kong’s long-term economic development and people’s livelihood needs. The Government is also keenly aware that land has to be rolled out in a gradual and pragmatic manner, taking into account a basket of factors, including, inter alia, the market economic conditions. Having carefully reviewed these factors, the Government publicly stated earlier this year that it will currently focus on developing the Northern Metropolis. The Kau Yi Chau Artificial Islands (Kau Yi Chau) project, as another major land development project, is accorded a lower priority. However, the Government will continue with the studies already commenced on the Kau Yi Chau project.
 
     The replies to the various parts of the question raised by Dr the Hon Lo Wai-kwok are as follows:
 
(1) The Kau Yi Chau project is currently in its early planning and study stage. The Civil Engineering and Development Department (CEDD) submitted the Environmental Impact Assessment Report (EIA Report) relating to the reclamation to the Environmental Protection Department (EPD) on December 31 last year. Although the EPD subsequently informed the CEDD that the EIA Report was suitable for public inspection, given that the implementation programme of the Kau Yi Chau project has been slowed down and no specific arrangements have been made, the Development Bureau, after reviewing the situation, considers it inappropriate to proceed with the relevant statutory EIA procedures (including public inspection, submission of the EIA Report to the Advisory Council on the Environment, and consideration by the Director of Environmental Protection for the approval of the EIA Report) at this stage. Proceeding with the above procedures without a target reclamation timetable could hinder focused discussion and arouse public concerns about the relevance of the approval results after a period of time. To avoid unnecessary public speculation and debate on the Kau Yi Chau project, we recommend adopting a more prudent arrangement. This involves waiting until the implementation timetable for the reclamation works is mostly ascertained and the EIA Report is updated as needed before submitting the EIA Report to the EPD, as well as exhibiting it for public inspection and seeking approval.
 
(2) The Kau Yi Chau project is a source of long-term land supply. Therefore, although there is no concrete timetable for its implementation, the analysis and information obtained from the ongoing studies are particularly crucial for the future implementation of the project. Such information remains applicable and retains significant reference value, which will help expedite the commencement of the Kau Yi Chau project when conditions permit. Currently, the Government will continue to complete the ongoing studies, including ground investigation, preliminary design of reclamation and major transportation infrastructure, and technical assessments related to land development. Even after these studies are completed, further studies, particularly detailed engineering design, will be required before progressing to the reclamation phase. However, the studies already undertaken form a good basis for us to commence other necessary preparatory work at the appropriate time.
 
(3) In view of the situation mentioned above, the Government has not yet formulated a timetable for the implementation of the Kau Yi Chau project. In fact, we do not have the necessary conditions for the reclamation project to be carried out within this term of Government.

LCQ9: Hotel accommodation tax

Source: Hong Kong Government special administrative region

LCQ9: Hotel accommodation tax 
Question:
 
     The Government has resumed the collection of hotel accommodation tax (HAT) at a rate of 3 per cent on the accommodation charges with effect from January 1 this year. However, some members of the hotel and guesthouse industry are of the view that, given the rising operating costs, fierce competitions from the nearby markets and the significantly heightened sensitivity to hotel accommodation charges among visitors, the Government should continue to pay attention to and assess the impact of reinstating HAT on the industry. In this connection, will the Government inform this Council:
 
(1) whether it has compiled statistics on the following information regarding hotels and guesthouses in Hong Kong in each month from January to June this year: (i) the number of hotels and guesthouses and (ii) the total number of rooms provided (broken down by whether or not HAT has been charged), as well as (iii) the amount of HAT collected by the Government (set out in a table);
 
(2) whether it has compiled statistics on the number of rooms which are considered as long-term accommodations among those set out in (1) ‍on which HAT is not charged (set out in a table on a monthly basis);
 
(3) whether it has reviewed if the collection of HAT after its reinstatement meets expectations, and how it assesses the impact of reinstating HAT on the competitiveness of hotels in Hong Kong;
 
(4) as it is learnt that the authorities have indicated that HAT is not part of the hotel room tariffs, and they have urged online travel platforms (OTP(s)) not to calculate the commissions payable by hotels and guesthouses based on the room rates with HAT, whether the authorities have compiled statistics on the number of OTPs which are still calculating the commissions concerned based on the tax-loaded room rates at present; of the measures put in place by the authorities to promote OTPs to calculate commissions based on the room rates without HAT;
 
(5) whether it will consider introducing electronic filing of documents to facilitate hotels and guesthouses in making returns in respect of their payable HAT, thereby reducing the administrative workload of the industry;
 
(6) whether it has plans to make good use of the HAT revenue to promote the upgrading and transformation of hotels and guesthouses to enhance competitiveness of the industry; if so, of the details of the plans; if not, the reasons for that; and
 
(7) since some members of the hotel industry are of the view that they are facing intense competition and have proposed reduction or suspension of the collection of HAT by the Government, will the Government consider such proposals; if so, of the details; if not, the reasons for that?
 
Reply:
 
President,
 
     The hotel accommodation tax (HAT) is imposed on hotels and guesthouses under the Hotel Accommodation Tax Ordinance (Cap. 348) (the Ordinance). The Government resumed the collection of HAT at a rate of 3 per cent with effect from January 1, 2025, as part of its comprehensive fiscal consolidation programme.
 
     Upon consultation with the Culture, Sports and Tourism Bureau and the Inland Revenue Department (IRD), my reply to Hon Yiu Pak-leung’s question is as follows:
 
(1) and (2) The number of hotels and guesthouses in Hong Kong and the total number of rooms provided by them from January to June 2025 are as follows:
 

 to HAT
(Number of rooms)^(Number of rooms)(86 348)(3 245)(6 341)(9 165)(92 689)(12 410)(86 410)(3 231)(6 240)(9 159)(92 650)(12 390)(86 410)(3 227)(6 240)(9 157)(92 650)(12 384)(86 410)(3 171)(6 358)(9 211)(92 768)(12 382)(86 422)(3 171)(6 358)(9 301)(92 780)(12 472)(86 420)(3 238)(6 358)(9 591)(92 778)(12 829) 
# Including hotels or guesthouses exempted from paying HAT under the Ordinance, i.e. (a) the rate of the accommodation charge is less than $15 per day; (b) the accommodation is provided by society not established or conducted for profit; or (c) the hotel or guesthouse contains less than 10 rooms normally available for lodging guests.
 
     Under the Ordinance, HAT is levied quarterly and hotel and guesthouse proprietors should pay the tax to the Government within 14 days after quarter-end. The HAT collected by the Government for the first and second quarters of 2025 amounted to about $190 million and $170 million respectively.
 
(3) Since the announcement of resumption of collection of HAT, the Government has maintained close communication with the representatives of the hotel and guesthouse industry. We assisted the industry in understanding the operational arrangement of HAT through meetings, briefings and a communication platform, and incorporated the industry’s feedback when formulating the implementation details. The IRD has updated the relevant information and frequently asked questions on their website from time to time, and set up a telephone enquiry hotline and a dedicated helpdesk at the Inland Revenue Centre to provide information to the industry, general public and visitors. The IRD also visits hotels and guesthouses from time to time to see if the industry has any problems in completing the returns and making tax payments, and to provide assistance and clarifications. We understand that the industry has no major difficulties in completing the returns and making tax payment. The Government’s work on HAT collection has been generally smooth.
 
     In terms of tax revenue, the HAT collected for the first two quarters of 2025 accounts for around 37 per cent of the annual estimate of $970 million. According to past data, the hotel occupancy rates in the second half of the year are generally higher than those in the first half. Furthermore, the HAT that can be collected varies with adjustments in room rates. Hence, the final revenue from HAT for this financial year will depend on the total number of overnight visitors and room rates throughout the year.
 
     The Government fully took into account the impact of the tax on visitors and the industry when considering the resumption of collection of HAT. HAT only constitutes 3 per cent of hotel/guesthouse room rates and is levied on an ad valorem basis. Since the relevant tax only accounts for a small portion of the total spending of overnight visitors in Hong Kong, we do not consider that it will affect visitors’ wish to consider Hong Kong as a travel destination. According to the statistics of the Hong Kong Tourism Board (HKTB), the average hotel occupancy rate and the number of overnight visitors for the first half of 2025 increased by around 2 per cent and 7 per cent respectively, compared to the same period in 2024. In fact, visitors take into account multiple factors when selecting travel destinations, including the appeal of the relevant places. The Government will continue to enrich Hong Kong’s tourism products and experiences, develop distinctive travel itineraries, host different types of mega events and encourage hotels to collaborate with attractions and event organisers to provide accommodation packages and special offers, with a view to attracting more visitors to Hong Kong and extend their stays.
 
(4) Prior to the resumption of collection of HAT, the Government met with representatives from online travel agencies (OTAs) and issued emails to them to explain the operational arrangement of HAT. We clarified that, if OTAs collect HAT on behalf of the hotels or guesthouses, the tax amount should not be included in the calculation of commissions charged to hotels and guesthouses. Mainstream OTAs have followed the Government’s appeal when handling the commissions with hotels and guesthouses.
 
(5) To further enhance operational efficiency and facilitate tax payments by the public and industries, the IRD has been making good use of information technology to improve their services. The IRD is actively exploring ways to improve the current filing process of HAT, including electronic filing, to reduce the administrative work of the industry.
 
(6) Similar to other taxes, HAT forms part of the Government’s general revenue. The Government will consider the actual needs of different policy areas and holistically consider how to allocate resources in accordance with the principle of prudent financial management.
 
     The Government is fully committed to promoting the overall development of the tourism industry and hotel/guesthouse industry. In a bid to pursue the concept of “tourism is everywhere” and implement the Development Blueprint for Hong Kong’s Tourism Industry 2.0, the Government has allocated over $1.23 billion in 2025-26 financial year to prioritise tourism development. An array of measures will be implemented to attract visitors, which include hosting and supporting mega events in Hong Kong, enhancing harbourfront facilities, facilitating meetings, incentives, conventions and exhibitions tourism, supporting cruise development, stepping up publicity targeting Middle Eastern and ASEAN (Association of Southeast Asian Nations) visitors, as well as promoting smart tourism and refining the platform to enhance visitors’ experiences. The Government will continue allocating resources to strengthen its promotional efforts through the HKTB, thereby boosting Hong Kong’s appeal to visitors.
 
(7) In formulating any revenue measures, the Government will take into account the economic situation and development needs of Hong Kong, views from different sectors of the community and the Government’s fiscal situation. The HAT provides a stable source of Government revenue without affecting members of the public. The Government currently has no plan to adjust the HAT rate.
Issued at HKT 12:52

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LCQ14: Building a data trading ecosystem

Source: Hong Kong Government special administrative region

LCQ14: Building a data trading ecosystem 
Question:

     The Financial Secretary has indicated in the 2024-2025 Budget that the Government has commissioned an expert group to undertake an in depth study on how to develop a robust data trading ecosystem in Hong Kong. In this connection, will the Government inform this Council: 
(1) The Innovation, Technology and Industry Bureau and the Cyberspace Administration of China signed the “Memorandum of Understanding on Facilitating Cross-boundary Data Flow within the Guangdong-Hong Kong-Macao Greater Bay Area” in June 2023, and jointly announced the facilitation measure on the “Standard Contract for the Cross-boundary Flow of Personal Information within the Guangdong-Hong Kong-Macao Greater Bay Area (Mainland, Hong Kong)” (the GBA Standard Contract) in December 2023 to facilitate cross boundary flow of personal information from the Mainland cities in the GBA to Hong Kong and streamline the relevant arrangements. 

Sector(2) With the acceleration of global digital transformation, data has become a key production factor, and a highly efficient data ecosystem is one of the key factors attracting enterprises to establish a foothold in Hong Kong. Hong Kong is underpinned by its distinctive advantages under “one country, two systems” and endowed with the characteristics of an international city. From supply and demand of data to application scenarios, Hong Kong is equipped with a robust foundation and possess an abundance of favourable conditions for promoting the development of data ecosystem. 

The Financial Secretary announced in the 2024-25 Budget that an expert group, comprising professionals from sectors such as information technology, commerce and industry, finance and data sources, is commissioned to study how to develop a robust data trading ecosystem in Hong Kong. This includes Hong Kong’s role as a “super connector” in data trading, the prerequisites, rules, and measures for promoting international data trading, as well as feasible implementation models. The study also covers key issues related to data trading, including data format standardisation, data pricing mechanisms, and data security protection, etc. The expert group is conducting a consultancy study on these topics and is expected to complete work and submit recommendations to the Government within 2025-26.Issued at HKT 11:51

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