Source: Hong Kong Government special administrative region
LCQ18: Review of the bus-only lane arrangement on Tuen Mun Road
Question:
The Transport Department’s arrangement of designating a bus-only lane (BOL) on Tuen Mun Road (TMR) between So Kwun Wat and Sham Tseng Interchange (TMRBOL) has been in place for over 30 years. Some members of the public have relayed that, following the commissioning of the Tuen Mun-Chek Lap Kok Tunnel in December 2020 and the Government’s takeover of the Tai Lam Tunnel in May 2025, the authorities should review the overall traffic conditions on TMR and make adjustments accordingly. In this connection, will the Government inform this Council:
(1) given that in its reply to a question raised by a Member of this Council on June 4, 2025, the Government indicated that in light of changes in traffic flow and bus operation of TMR after the implementation of new toll plans at the Tai Lam Tunnel, the Transport Department would review the arrangement of TMRBOL in a timely manner, of the current progress of the review (e.g. whether the length and operating hours of the BOL will be shortened), and whether it has plans to conduct a comprehensive review of the overall traffic conditions on TMR; if so, of the specific plans; if not, the reasons for that;
(2) as the current design of TMRBOL is inconsistent with those in other districts in Hong Kong (e.g. on major roads such as Nathan Road and Hennessy Road) (generally speaking, where a road exit is located outside a BOL, continuous broken lines or arrow markings are usually provided before the exit to facilitate safe lane changes by vehicles), whether the authorities will review the design of the roads associated with TMRBOL and add continuous broken lines or arrow markings to accommodate the needs of drivers heading to Siu Lam and Sham Tseng; if so, of the specific plans; if not, the reasons for that; and
(3) as some members of the public have relayed that the authorities’ arrangement of BOLs in various locations across the territory has caused impacts on other lanes of the same road sections and adjoining roads, leading to traffic congestion or tailbacks, whether the authorities will conduct a study on the impact of BOLs in various districts on traffic and adjust the arrangement of BOLs across the territory in light of the actual circumstances; if so, of the specific plans; if not, the reasons for that?
Reply:
President,
Under the policy of giving priority to public transportation, the Transport Department (TD) has implemented Bus-only Lanes (BOLs) to give buses with high carrying capacity priority in road usage. This helps reduce delays caused by traffic congestion and encourages the public to choose convenient public transportation for travel. BOLs (including bus lanes and designated bus gates), as mentioned in the question, are traffic lanes designated for use only by “franchised buses” or by both “franchised and non-franchised buses” during prescribed times. My response to the question raised by Professor the Hon Lau Chi-pang is as follows:
(1) Following the Government’s takeover of the Tai Lam Tunnel on May 31, 2025, and the subsequent reduction in tolls, traffic flow through the tunnel has increased. According to preliminary data, and in line with the Government’s expectations, traffic flow on the relevant section of Tuen Mun Road has decreased during weekday peak hours. However, it still exceeds road capacity, resulting in congestion. To balance the needs of different road users and ensure smooth public transport services, the TD considers it necessary to maintain the existing BOL arrangement. Specifically, the left lane of Tuen Mun Road (towards Kowloon), between Harrow International School Hong Kong and the Sham Tseng Interchange, will remain designated as a BOL from 7.30am to 9am (excluding public holidays).
(2) The current BOL arrangements help maintain stable travel times and service levels for franchised buses, thereby encouraging more members of the public to use bus services. This, in turn, reduces the use of Tuen Mun Road by other vehicles with lower passenger capacity and helps alleviate heavy traffic congestion on the road.
Outside the designated BOL operating hours, vehicles traveling along Tuen Mun Road towards Kowloon may use the BOL (leftmost lane) and access Castle Peak Road – Tai Lam Section and Sham Tseng Section via Exits 22 and 23, respectively, in accordance with the guidance provided on directional signs and the deceleration lanes before the exits, depending on travel needs. If the morning peak BOL arrangement is cancelled, the operational efficiency of bus services may be affected, and other drivers may be drawn to use Tuen Mun Road during the morning peak, which would further exacerbate congestion. To remind motorists of the BOL arrangements, appropriate road signs have been installed along the road.
As for other BOL locations, such as Nathan Road and Hennessy Road, these junctions are generally more densely concentrated. Taking into account the travel needs of other vehicles and the availability of alternative routes, the length of BOL setups on these roads is typically shorter. Continuous dotted lines or arrow markings are provided at appropriate locations to allow other vehicles to safely merge at relevant junctions, turn into side streets, or access nearby buildings, thereby supporting the operational needs of the road network.
(3) The current BOL arrangements across Hong Kong have been designed with careful consideration of actual road and traffic conditions, including road and junction design, the number of traffic lanes, the number and frequency of bus routes, traffic volumes of other vehicles, the availability of alternative routes, and the impact on vehicle movement. The TD will continue to closely monitor the operation of BOLs in all districts, as well as prevailing road and traffic conditions, and will optimise the arrangements as necessary. This ensures an appropriate balance under the policy of giving priority to public transportation, thereby supporting the smooth operation of the transport network.
Issued at HKT 12:15
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LCQ11: Attracting companies located outside Hong Kong to establish operations in Hong Kong
Source: Hong Kong Government special administrative region
LCQ11: Attracting companies located outside Hong Kong to establish operations in Hong Kong
Question:
According to the 2025 Annual Survey of Companies in Hong Kong with Parent Companies Located outside Hong Kong announced by the Government in January this year, the total number of companies in Hong Kong with parent companies located outside Hong Kong (the Companies) reached 11 070 in 2025, representing an annual increase of 11 per cent, while the number of people employed reached 509 000, recording an annual increase of 3 per cent. In this connection, will the Government inform this Council:
(1) as the numbers of the Companies are concentrated in the three traditional pillar industries of the import/export trade, wholesale and retail sector, the financial and banking sector, and the professional, business and education service sector (accounting for approximately 83.5 per cent of the total), how will the Government encourage more companies located outside Hong Kong engaged in emerging industries (such as the innovation and technology industries) to establish operations in Hong Kong, thereby optimising Hong Kong’s current industrial structure;
(2) among the Companies, those from the Chinese Mainland account for the largest proportion, followed by companies from the United States and Japan (together accounting for approximately 55.9 per cent of the total), how will the Government attract and encourage more companies located outside Hong Kong from emerging markets (particularly the Middle East and Association of Southeast Asian Nations countries) to establish operations in Hong Kong;
(3) as the number of people employed by the Companies has only increased by 3 per cent year on year, how will the Government encourage these companies to hire more local staff; and
(4) according to the World Investment Report 2025 published by the United Nations Trade and Development, Hong Kong rose to third globally in terms of foreign direct investment in 2024, of the specific measures to be implemented by the Government in the coming year to maintain Hong Kong’s competitive edge?
Reply:
President,
The current-term Government is committed to attracting investment and attracting companies outside Hong Kong to establish a presence in Hong Kong. According to the latest “Report on Annual Survey of Companies in Hong Kong with Parent Companies Located outside Hong Kong” conducted by Invest Hong Kong (InvestHK) and the Census and Statistics Department, there were a record high of 11 070 Hong Kong-based companies from the Chinese Mainland and overseas in 2025, representing a year-on-year increase of 11 per cent. The number of people employed reached 509 000, representing a year-on-year increase of 3 per cent. The results of the surveys fully display international business community’s confidence in the business environment of Hong Kong.
In response to the Hon Jonathan Stuart Lamport’s question, my reply is as follows:
(1) As an investment promotion agency of the Hong Kong Special Administrative Region Government, InvestHK has been proactively attracting and assisting overseas and Chinese Mainland enterprises to set up or expand their businesses in Hong Kong. In 2025, InvestHK assisted 560 overseas and Chinese Mainland enterprises in setting up or expanding their businesses in Hong Kong, setting a new record high and representing a year-on-year increase of over 4 per cent. The top five sectors of these enterprises are financial services and fintech (117 companies), innovation and technology (115 companies), family offices (80 companies), tourism and hospitality (65 companies), and consumer products (54 companies). It is expected that these enterprises will create more than 10 700 jobs and bring in direct investment of around $69.4 billion in total within the first year of their establishment or expansion. This demonstrates that, in addition to traditional sectors, InvestHK has successfully attracted many enterprises from emerging sectors such as fintech, innovation and technology, and family offices to Hong Kong in recent years.
(2) InvestHK has been leveraging its global investment network, including 17 Dedicated Teams for Attracting Businesses And Talents (Dedicated Teams) in the Mainland Offices and overseas Hong Kong Economic and Trade Offices (ETOs), as well as 17 overseas consultant offices, to proactively explore different emerging markets for attracting businesses and investments. Specifically, to expand the markets of the Association of Southeast Asian Nations (ASEAN) and the Middle East, InvestHK has established Dedicated Teams under four ETOs in Jakarta, Bangkok, Singapore and Dubai respectively. A Dedicated Team under the Kuala Lumpur ETO newly established last December is also expected to be set up in the first half of this year to further deepen co-operation in the ASEAN region. In addition, InvestHK set up consultant offices in Cairo, capital of Egypt and Izmir, Türkiye’s third-largest city in 2024-25, with a view to attracting capital and enterprises from high-potential emerging countries in the Middle East and North Africa. These are the third and fourth consultant offices set up by the current-term Government since taking office, following those in Nairobi, Kenya, and Almaty, Kazakhstan. Other consultant offices in emerging markets include Istanbul, Türkiye; Lima, Peru; Santiago, Chile; Rio de Janeiro, Brazil; Mexico City, Mexico; and Mumbai, India. Through the aforesaid global investment network, InvestHK visits various emerging markets (such as ASEAN, Africa, Central Asia, Eastern Europe, South Asia and South America) to meet with different enterprises and investment institutions, and to organise and sponsor a series of investment promotional activities to attract local businesses to Hong Kong.
(3) In addition to proactively attracting new enterprises to Hong Kong, InvestHK also places great importance on providing aftercare support services to enterprises assisted by the department and other non-local enterprises (such as assisting in their expansion of new business types, upgrading their Hong Kong offices to function as regional headquarters, setting up physical offices or stores, listing or establishing corporate treasury centres, expanding their overseas business bases, etc.). InvestHK also assists the enterprises to explore and evaluate new growth areas and opportunities ahead and supports them to expand their operations in Hong Kong, thereby creating more local job opportunities.
(4) According to the World Investment Report 2025 published by the United Nations Trade and Development, Hong Kong rose to third place globally in terms of foreign direct investment inflows in 2024, confirming Hong Kong’s status as a world-renowned international business and investment hub. The 2025 Policy Address announced several policy initiatives to further strengthen the investment promotion work, including strengthening the support for Chinese Mainland enterprises to go global through Hong Kong. The Commerce and Economic Development Bureau has set up a cross-bureau, cross-departmental and cross-agency Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force) by mobilising Hong Kong offices abroad, including those under InvestHK and the Hong Kong Trade and Development Council as well as the Hong Kong offices on the Chinese Mainland. It also coordinates various bureaux, departments and agencies to proactively encourage Chinese Mainland enterprises to go global via Hong Kong and provide them with customised and comprehensive support services based on their needs. The GoGlobal Task Force will focus on attracting key or strategically valuable Chinese Mainland enterprises to set up businesses in Hong Kong. We will also follow the strategies outlined in Part (2) above to attract and encourage more overseas companies from emerging markets to expand their businesses to Hong Kong and explore the vast Chinese Mainland market, fully leveraging our role as a two-way platform between China and the world.
In addition, the Financial Secretary leads the relevant policy bureaux, departments, and public organisations in formulating packages of preferential policies including land grants, land premiums, financial subsidies, and tax incentives. InvestHK provides support for the relevant policies and will proactively use the preferential policy packages to attract high value-added industries and high-potential enterprises to set up in Hong Kong, thereby promoting high-quality development and bringing economic contributions and employment opportunities to Hong Kong.
Looking ahead, we will step up our efforts to attract direct investment from emerging markets and support Chinese Mainland enterprises to go global via Hong Kong, while consolidating our investment promotion efforts in traditional markets, thereby attracting more non-local companies to set up in Hong Kong.
Issued at HKT 12:05
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LCQ16: Cultivating local young legal talent
Source: Hong Kong Government special administrative region
LCQ16: Cultivating local young legal talent
Question:
There are views pointing out that the international law organisation secondment programmes and Belt and Road Visit for young international legal talent, launched jointly by the Office of the Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region and the Department of Justice, can provide a platform and build a ladder for local young legal talent to go global and broaden their international horizons. In this connection, will the Government inform this Council:
(1) of the number of young legal talent from Hong Kong who have been seconded to international organisations (including the Hague Conference on Private International Law, the International Institute for the Unification of Private Law, the United Nations Commission on International Trade Law, and the Asian Infrastructure Investment Bank) through the secondment programmes to date;
(2) given that the Government has previously indicated that with the International Organization for Mediation (IOMed) establishing its headquarters in Hong Kong, this year’s secondment programmes will be extended to IOMed, whether the Government has formulated a specific roadmap and timetable in this regard; if so, of the details; if not, the reasons for that; and
(3) whether the Government will consider establishing a permanent mechanism whereby young legal professionals who have participated in the secondment programmes and Belt and Road Visit will regularly visit local legal service and legal education organisations upon their return to Hong Kong to share their experiences, thereby stimulating the interest of more young legal professionals in overseas secondment programmes and studying overseas law; if so, of the details; if not, the reasons for that?
Reply:
President,
In response to the enquiry raised by the Hon Wu Ying-peng, the reply is as follows:
(1) The Hong Kong Special Administrative Region (HKSAR) has, with the support of the Central Government, made standing secondment arrangements with relevant international organisations. By participating in the work of these international organisations, local legal professionals (including young legal talent) could deepen their understanding of the operation of international organisations and international law. Since the establishment of the relevant arrangements, as of March 2026, a total of 27 local legal professionals from both the public and private sectors have participated in the secondment programmes to the Hague Conference on Private International Law, the International Institute for the Unification of Private Law, the United Nations Commission on International Trade Law and the Asian Infrastructure Investment Bank.
(2) The 2026 recruitment exercise for the secondment programmes has commenced in January, with the addition of the secondment programme to the Secretariat of the International Organization for Mediation in Hong Kong. With the support of the Central Government, the Government of the HKSAR will continue to carry forward the secondment programmes steadily, taking into account the prevailing circumstances, in accordance with established procedures and the arrangements reached with the respective international organisations. The Department of Justice (DoJ) will also annually promote the secondment programmes to the legal sector, including putting the latest relevant information on its website for those interested in applying.
(3) The Belt and Road Visit for Hong Kong Young International Legal Talents is co-organised by the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the HKSAR (OCMFA) and the Hong Kong International Legal Talents Training Academy of the DoJ. The First Edition of the Visit held last year brought together 16 young international legal talent from the law faculties of three local universities, legal professional bodies and institutions, and the DoJ, during which they visited Beijing and Kashgar in Xinjiang. The Second Edition of the Visit will take place in July this year. The tentative itinerary includes a visit to Yunnan Province in China, followed by a visit to Laos. Participants will engage in exchanges with relevant government departments, legal institutions and organisations, enterprises, and chambers of commerce, and will gain first-hand understanding of the Belt and Road landmark co-operation projects such as the China-Laos Railway.
The DoJ will, based on the existing framework, explore with the OCMFA to regularise the relevant arrangements and arrange young legal talent who have participated in the Belt and Road Visit to share their experiences in local legal services institutions and legal education institutions on a regular basis after returning to Hong Kong. Subject to the available resources and operational feasibility, priority will be given to use the existing platforms and activity frameworks to strengthen the outreach and publicity, for example, by organising exchange activities such as sharing sessions and briefing sessions to motivate young legal professionals to take part in the Belt and Road Visit, deepen their understanding of the country’s overall development, broaden their international perspectives, so that they can better appreciate the significance of the Belt and Road Initiative for China and the countries along the Belt and Road. As mentioned above, the DoJ will also annually promote the secondment programmes to the legal sector to encourage more qualified legal professionals to apply.
Issued at HKT 11:59
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LCQ13: Promoting internationalisation of Hong Kong Diploma of Secondary Education Examination
Source: Hong Kong Government special administrative region
Following is a question by Professor the Hon Alex Fan and a written reply by the Secretary for Education, Dr Choi Yuk-lin, in the Legislative Council today (March 18):
Question:
The 2025 Policy Address has explicitly stated that the Government will intensify its efforts to promote the international recognition of the Hong Kong Diploma of Secondary Education Examination (DSE) and propel Hong Kong into an international hub for post-secondary education. It has been reported that the Government is exploring with the Mainland the development of an international version of the DSE curriculum. However, there are views that although DSE’s international accreditation network has expanded to over a thousand higher education institutions worldwide, its internationalisation process remains at the stage of passively admitting non-local candidates, and there is yet an active global branding strategy and a blueprint for the systematic export of the system. In this connection, will the Government inform this Council:
(1) what specific strategies are in place to promote the internationalisation of DSE in the long run, including the design framework and assessment standards for the international version of the DSE curriculum, as well as the division of roles between the Government and the Hong Kong Examinations and Assessment Authority (HKEAA) in curriculum development and quality monitoring; whether the authorities will formulate a Blueprint for the Internationalisation of DSE covering areas such as target markets, development stages and performance indicators; if so, of the details and timetable; if not, the reasons for that;
LCQ1: Measures to support kindergartens
Source: Hong Kong Government special administrative region
Following is a question by the Hon Tang Fei and a reply by the Secretary for Education, Dr Choi Yuk-lin, in the Legislative Council today (Mar 18):
Question:
(3) In face of the structural decline in school-age population, the EDB has been encouraging school sponsoring bodies and KGs to plan ahead of time by considering plans for consolidating and optimising school resources. Besides, the EDB has been liaising with the sector and providing support to alleviate the impact from decline in school-age population, among others, including provision of more KG premises owned by the Government for allocation to eligible applicant bodies on a competitive basis for alleviating rental burden.
LCQ7: Financial co-operation with Middle East and Global South economies
Source: Hong Kong Government special administrative region
Following is a question by the Hon Lau Ka-keung and a written reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (March 18):
Question:
There are views that while the recent dramatic changes in the Middle East situation have heightened geopolitical risks and brought uncertainties to international financial markets, energy prices and global supply chains, they have also presented new opportunities to Hong Kong for co-operation with Middle East economies and other Global South economies. In this connection, will the Government inform this Council:
(1) whether it has assessed the respective aggregate asset sizes and risk exposures of Hong Kong’s banks and major licensed financial institutions in Middle East economies and other Global South economies in each of the past three years; if it has assessed, set out the data in tabular form by jurisdiction and asset type; if not, whether it will conduct an assessment;
(2) whether it has compiled statistics on the values of bilateral trade (including imports and total exports) between Hong Kong and Global South economies, their year-on-year rates of change, and the proportions of Global South economies in Hong Kong’s total external trade value in each of the past three years; if it has compiled, set out the data in tabular form by jurisdiction and service type; if not, whether it will compile such statistics;
(3) whether it knows if the Hong Kong Monetary Authority and the Securities and Futures Commission have taken specific measures to assess and monitor the risks assumed by Hong Kong’s banks and financial institutions for their investments in the Middle East (such as requiring the relevant banks and financial institutions to undergo targeted stress tests or step up risk monitoring); if so, of the details; if not, the reasons for that;
(4) as there are views that geopolitical tensions may cause fluctuations in energy and commodity prices, thereby affecting inflation and business operations, whether a cross-departmental alert and response mechanism will be formulated to reduce the potential impact of such fluctuations on the economic and financial stability of Hong Kong; if it will, of the details; if not, the reasons for that;
(5) as there are views that the Government has actively promoted co-operation with Middle East economies and other Global South economies in the areas of finance, economy and trade in recent years, and yet the current geopolitical risks may impact the advancement of such co-operation and the exploration of new markets, how the authorities assess and manage the risks involved and provide ongoing support to Hong Kong’s financial institutions and enterprises interested in exploring those markets, thereby assisting relevant bodies in seizing development opportunities, subject to compliance with laws and regulations; and
(6) as there are views pointing out the pressing demands from Middle East economies and other Global South economies in areas such as Islamic finance and green sustainable finance, whether timely deployment has been made in light of the current international turmoil to further strengthen Hong Kong’s institutional advantages in such areas so as not to miss development opportunities, and, where risks are controllable, develop Hong Kong into a key hub connecting capital and projects between China and the Global South; if so, of the details; if not, the reasons for that?
Reply:
President,
The tensions in the Middle East have brought volatility to global energy supply, financial markets and trade. Geopolitical uncertainties have highlighted the importance of Hong Kong as an international financial centre in providing security, stability, and certainty. With the free flow of capital, merchandise and talent into and out of Hong Kong, coupled with the stability of the Hong Kong dollar under the Linked Exchange Rate System, as well as Hong Kong’s comprehensive capital markets, robust financial infrastructure and quality professional services and talent, Hong Kong is well-positioned to play the role of a “safe haven” amidst these changes. Notably, as co-operation between Hong Kong and the Middle Eastern financial markets continues to deepen in recent years, some Middle East funds may flow into Hong Kong to avert risk. At the same time, the Government and financial regulators will closely monitor market conditions and put in place contingency plans to properly manage geopolitical risks while seizing the opportunities that arise.
After consulting the Commerce and Economic Development Bureau, the Environment and Ecology Bureau, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), our reply to the six parts of the question is as follows:
(1) The exposure of the local banking sector to the Middle East is very small, accounting for less than 3 per cent of the total assets of the banking industry over the past three years. Besides, the exposure of Hong Kong banks to other major Global South economies (excluding Chinese Mainland) over the past three years also accounted for only about 3 per cent of the total assets of the banking industry.
The SFC has been closely monitoring the operation of the market, and has not detected any significant risks relating to the recent situation in the Middle East, nor has it identified any major issues arising from the Middle East situation in the operation or risk management of licensed corporations.
(2) The Government has been proactively expanding into the emerging markets in the Global South, including the Association of Southeast Asian Nations (ASEAN) and the Middle East, to promote the long-term economic development of Hong Kong.
Taking ASEAN as an example, in 2025, ASEAN as a bloc was Hong Kong’s second largest trading partner in the world. The bilateral trade in goods between Hong Kong and ASEAN amounted to HK$1,668.5 billion (US$214.0 billion), representing 15.3 per cent of Hong Kong’s global merchandise trade and registering an average annual growth rate of 7.6 per cent in the past five years.
In 2025, the Middle East as a bloc was our 10th largest trading partner in the world. The bilateral trade in goods between Hong Kong and the Middle East amounted to HK$192.8 billion (US$24.7 billion), representing 1.8 per cent of Hong Kong’s global merchandise trade and registering an average annual growth rate of 5.8 per cent in the past five years.
Hong Kong and the emerging markets in the Global South have significant room for trade and economic development. Hong Kong is committed to giving full play of our role as the functional platform for the Belt and Road Initiative, and stepping up efforts to deepen co-operation with the Global South markets.
(3) In view of the escalation of the situation in the Middle East and geopolitical risks, the HKMA has stepped up its monitoring of market conditions, including conducting stress tests, and maintaining close communication with banks. Banks have also enhanced their risk monitoring and management, and have been formulating appropriate contingency measures for different risk scenarios. Overall, as pointed out in part (1) of the reply, the exposure of Hong Kong banks to the Middle East is very small. The Hong Kong banking sector remains stable, with ample capital and liquidity levels that are well above international standards. The HKMA will closely monitor the developments and continue to guide Hong Kong banks in adopting prudent risk management measures to properly manage the risks arising from financial market volatility and external uncertainties. On the monetary front, Hong Kong’s foreign exchange reserves are substantial, exceeding US$430 billion, which is about 1.7 times the size of the Hong Kong monetary base, ensuring the smooth functioning of the Linked Exchange Rate System at all times. Hong Kong’s money market continues to operate in an orderly manner, and the Hong Kong dollar exchange rate has been maintained within the convertibility zone of 7.75 to 7.85 against the US dollar.
The SFC has also been closely monitoring the operation of the local stock market, exchanges and the over-the-counter derivatives market. The SFC conducts regular stress tests based on the financial information reported by brokers to assess their financial resilience. During periods of relative market volatility, the SFC also pays particular attention by inquiring with major investment banks and hedge funds about their short positions in heavyweight stocks, as well as seeking to understand the trading strategies, overall positions and risk management measures of market participants. The SFC has not detected any significant risks relating to the recent situation in the Middle East.
The Government and financial regulators will continue to closely monitor market changes to maintain the stability of Hong Kong’s monetary and financial markets.
(4) In response to the recent developments, the Government has strengthened communication with the two power companies and major energy companies, closely monitoring the inventory levels and supply status of major fuels. The Government has in place a mechanism that sets minimum stockpile requirements for major fuels and contingency plans to deal with potential supply tightness. The Government will remain vigilant, closely monitoring geopolitical developments, international energy price trends and the local fuel supply situation to ensure the stability of Hong Kong’s energy supply.
The financial market is operating smoothly with regard to the trading of other commodities. The Government and financial regulators will continue to closely monitor the situation to ensure its effective functioning.
(5) and (6) The Government has been actively promoting enhanced co-operation between Hong Kong and emerging markets in the Global South, including the Middle East and ASEAN, in areas such as finance and trade, and is committed to developing and providing products and services that meet the needs of these markets to seize relevant opportunities.
In the area of finance, as an international financial centre, Hong Kong is dedicated to providing investors and issuers with a diverse range of products and services. Islamic financial products, in particular, can offer issuers additional financing channels and broaden their investor base. The Government amended the laws in 2013 and 2014 to provide a tax framework for issuing sukuk that is comparable to that for conventional bonds, and to allow the issuance of sukuk under the Government Bond Programme. Thereafter, the Government issued three sukuk, totalling US$3 billion, under the Government Bond Programme, demonstrating that Hong Kong’s legal, regulatory and taxation framework can readily support sukuk issuances of different structures, making it a suitable platform for raising funds through sukuk.
In addition, an array of Islamic financial products and services have been rolled out in Hong Kong, including the listing of global sukuk on the Hong Kong Exchanges and Clearing Limited (HKEX), Shariah-compliant equity indices tracking Hong Kong stocks, and Islamic banking windows. Hong Kong and Saudi Arabia have also achieved continuous breakthroughs in developing new financial products in recent years. Following the listing of Asia’s first exchange-traded fund (ETF) investing in Saudi-listed stocks on the HKEX in November 2023, two ETFs tracking Hong Kong stock indices were listed on the Saudi Exchange via master-feeder structure in October 2024. Asia’s first government sukuk ETF was also listed on the HKEX in May 2025.
At the same time, financial regulators are actively promoting the strengths of Hong Kong’s financial system and market through market development efforts, with a view to further strengthening co-operation with Islamic markets such as the Middle East and ASEAN.
In recent years, the HKMA has held multiple bilateral meetings and signed Memoranda of Understanding (MOUs) with central banks in the United Arab Emirates (UAE), Saudi Arabia, Qatar, etc., discussing topics of financial infrastructure development, sustainable finance, fintech, market connectivity and Islamic finance, etc. Notably, the Central Bank of the UAE officially joined the HKMA’s Central Moneymarkets Unit in February 2026, enabling the Central Bank of the UAE and investors in the UAE to fully utilise Hong Kong’s mature financial infrastructure to access the Mainland Chinese capital market and invest in related financial assets. Furthermore, the HKMA and the Dubai Financial Services Authority have co-organised the Joint Climate Finance Conference for two consecutive years since 2024 and, in 2025, initiated a joint study exploring the role of sustainable debt instruments in scaling up climate finance for the emerging markets in the Global South, subsequently publishing a research report titled Scaling Sustainable Debt in Emerging Markets.
In addition, the SFC has also been actively forging greater connectivity with the Middle East region to further reinforce Hong Kong’s role as Asia’s premier capital intermediary. In 2025, the SFC has signed four MOUs with financial regulators in the Middle East region, strengthening co-operation between Hong Kong and the Middle East on the areas of market regulatory oversight, supervision of collective investment scheme managers, cross-border regulatory co-operation on digital assets and the establishment of Mutual Recognition of Funds arrangement.
The Government and financial regulators will continue to advance relevant market development efforts, seeking further co-operation with emerging markets in the Global South, including the Middle East and ASEAN, in the financial field. This will better leverage Hong Kong’s advantages as an international financial centre to connect markets and capital between China and the Global South.
In the area of trade, the Government has been actively seeking to conclude free trade agreements and investment agreements (IAs) with economies in the Middle East and the Global South. The Government has concluded negotiations of IAs with Qatar, Bangladesh and Peru respectively, and is exploring new IAs with Saudi Arabia and Egypt. These agreements require long-term negotiations and have consistently received support from the governments of both sides. The recent situation in the Middle East does not affect the authorities’ intentions regarding these agreements. The Government will continue to actively advance this work. At the same time, the Government will strengthen its role as the functional node for the Belt and Road Initiative, collaborating with industry players to further develop the ASEAN, Middle East and Global South markets, and explore the potential of markets in Central Asia, South Asia and North Africa.
Unemployment and underemployment statistics for December 2025 – February 2026
Source: Hong Kong Government special administrative region
According to the latest labour force statistics (i.e. provisional figures for December 2025 – February 2026) released today (March 18) by the Census and Statistics Department (C&SD), the seasonally adjusted unemployment rate decreased from 3.9% in November 2025 – January 2026 to 3.8% in December 2025 – February 2026. The underemployment rate remained unchanged at 1.7% in the two periods.
Comparing December 2025 – February 2026 with November 2025 – January 2026, the unemployment rate (not seasonally adjusted) decreased in many major economic sectors, with more distinct decreases observed in the retail sector, accommodation services sector, and foundation and superstructure sector. Movements in the underemployment rate in different industry sectors varied, but the magnitudes were generally not large.
Hongkong Post to issue “Old Master Q II” special stamps
Source: Hong Kong Government special administrative region
Hongkong Post to issue “Old Master Q II” special stamps
Old Master Q comics have entertained generations in Hong Kong. Mr Alfonso Wong Chak (1925–2017), creator of the first edition of the Old Master Q comics, started publishing his works in local newspaper columns in 1962 under the pen name Wong Chak, the name of his eldest son. Seeing his father getting on in years, Mr Joseph Wong Chak resolutely took up the baton of the Old Master Q comics in 1995 to carry forward the spirit of Old Master Q. He continues to produce the comics to this day. Simple and easy to understand, Old Master Q comics often feature humorous plot lines that bring knowing smiles to readers. The comic characters, such as Old Master Q, Big Potato, Mr Chin and Miss Chen, have all taken root in people’s hearts.
Following the release of the “Old Master Q” special stamps in 2019, Hongkong Post will issue a new set of special stamps themed “Old Master Q II” featuring various festive celebrations, including the Lunar New Year, Valentine’s Day, Easter, the Dragon Boat Festival, Mid-Autumn Festival and Christmas. Characters from the Old Master Q comics are depicted immersed in a rich festive atmosphere, showcasing Hong Kong’s unique charm and vibrancy. In addition, Hongkong Post will specifically launch a souvenir pack printed in invisible ink. It includes a souvenir sheet, a $10 stamp sheetlet, a $20 stamp sheetlet and a UV light torch. Under the UV light torch, hidden graphics on the souvenir pack will be revealed – a must-have for Old Master Q fans.
Official first day covers for “Old Master Q II” will be on sale at all post offices and on Hongkong Post’s online shopping platform ShopThruPost (shopthrupost.hongkongpost.hk
A hand-back date-stamping service will be provided on April 2 at all post offices for official first day covers/souvenir covers/privately made covers bearing the first day of issue indication and a local address.
Information about this set of special stamps and associated philatelic products is available on the Hongkong Post Stamps website (stamps.hongkongpost.hkIssued at HKT 16:15
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LCQ19: Studying the re-launch of the Tenants Purchase Scheme
Source: Hong Kong Government special administrative region
Following is a question by the Hon Tam Chun-kwok and a written reply by the Secretary for Housing, Ms Winnie Ho, in the Legislative Council today (March 18):
Question:
It has been reported that the Government has identified sufficient land for construction of public rental housing (PRH) units to meet the housing demand in the coming decade. There are views that it is now an opportune time for re-launching the Tenants Purchase Scheme (TPS), and the Government has also indicated its plans to conduct the related studies this year. In this connection, will the Government inform this Council:
Reply:
President,
The Tenants Purchase Scheme (TPS) was first introduced by the Hong Kong Housing Authority (HA) in 1998 to allow the sitting tenants of public rental housing (PRH) to purchase their flats at extremely low prices (12 per cent to 21 per cent of the original price) so as to achieve home ownership. Following a comprehensive review of the housing policy by the Government in 2002, the HA then decided not to roll out new TPS estates after the sale of TPS Phase 6B in August 2005. While sitting tenants in the 39 TPS estates can still opt to purchase their flats, the HA also puts up recovered TPS flats for sale in the Home Ownership Scheme (HOS) and Green Form Subsidised Home Ownership Scheme (GSH) sale exercises to eligible Green Form (GF) applicants.
In fact, under the prevailing mechanism, PRH applicants who have passed the detailed vetting may choose to apply for a Green Form Certificate (GFC) to purchase various types of subsidised sale flats (SSF) of HA, including HOS, GSH and recovered TPS flats. In recent years, the supply of SSF for sale has increased significantly. In the next five-year period (2026/27 to 2030/31), the supply of HOS flats is expected to reach nearly 59 000, representing a significant increase of nearly 50 per cent compared to the first five-year period when the current-term Government took office (2022/23 to 2026/27). The HA has also introduced various measures to assist PRH tenants and GFC holders in home purchase, including adjusting the ratio of GF and White Form from 40:60 to 50:50 starting from “HOS 2025”. It is believed that these measures will help parties concerned achieve their home ownership aspirations.
Note: Multiple reasons could be selected.
LCQ6: Regulation and development of AI technology
Source: Hong Kong Government special administrative region
Following is a question by the Hon Elizabeth Quat and a reply by the Acting Secretary for Innovation, Technology and Industry, Ms Lillian Cheong, in the Legislative Council today (March 18):
Question:
(3) In respect of educational courses, the EDB has been in close communication with universities funded by the University Grants Committee (UGC), encouraging them to further strengthen their measures in AI and cyber technology applications. In 2023, the UGC allocated $100 million to establish the Fund for Innovative Technology-in-Education which aims to encourage universities to leverage technology to advance teaching innovation and enrich learning experience, fostering a new generation of well-rounded talent for the digital economy. Among the funding scope of the Fund is promoting technological social responsibilities and academic integrity, which includes legal and ethical topics such as academic integrity, and data privacy and security.