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LCQ3: Non-residential properties

Source: Hong Kong Government special administrative region

     Following is a question by the Hon Doreen Kong and a reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (July 30):

Question:

     There are views pointing out that the economic downturn in recent years has led to rising vacancy rates of non-residential properties (e.g. shops and offices), thus exerting heavy operational pressure on property owners. In this connection, will the Government inform this Council:

(1) whether it will consider allowing owners of non-residential properties to pay the stamp duty on such property transactions by instalments, so as to alleviate their financial pressure;

(2) whether the Government will consider introducing policy incentives and initiatives, such as suitably relaxing the restrictions on investment in non-residential properties by foreign investors or applicants under the New Capital Investment Entrant Scheme, lowering the stamp duty rates for non-residential properties, as well as providing financing incentives or streamlining the investment approval process, so as to attract international capital and enhance the level of transaction activity in the market; and

(3) given that some owners of non-residential properties have reflected that despite the downward adjustments in the rental values of the properties held by them in recent years, they still need to pay high rates and Government rent, whether the Government will draw reference from the practices in places such as the United Kingdom and Australia and consider introducing temporary rates concession measures for non-residential properties, so as to assist property owners in coping with the pressure of the economic downturn?

Reply:

President,

     Before responding to the Hon Doreen Kong’s questions, I would first provide an overview of Hong Kong’s latest economic situation and the market conditions of non-residential properties.

     Hong Kong’s economy continues to grow steadily. Real gross domestic product rose by 2.5 per cent in the full year of 2024 and expanded by 3.1 per cent year-on-year in the first quarter of 2025, picking up from the 2.5 per cent growth in the preceding quarter. Meanwhile, according to the Rating and Valuation Department (RVD), the overall vacancy rates for private offices and private commercial premises stood at 16.3 per cent and 11.8 per cent respectively at the end of 2024, representing increases of 1.4 per cent and 1.5 per cent compared to 2023. This indicates that vacancy rates for non-residential properties are not solely determined by Hong Kong’s overall economic performance. Other contributing factors include the supply of properties, operation and development situation of individual enterprises, shift in consumption patterns of local residents and tourists, etc. Besides, property owners would also consider various factors when deciding whether to lease out vacant properties, such as market trends, their asset management strategies and financial positions, rental level, etc.

     The Government has been closely monitoring the situation and developments in the non-residential property market. In light of the vacancy rate of offices in recent years and the relatively ample supply of non-residential properties in the next few years, the Government has not put up commercial sites for tender since 2023/24, so as to allow the market to absorb the existing supply. In addition, the Government has been actively attracting investments. For example, from January 2023 to June 2025, Invest Hong Kong assisted over 1 300 overseas and Mainland enterprises in setting up or expanding their businesses in Hong Kong, which helps stimulate demand in the local non-residential property market.

     My responses to the three questions raised by the Hon Kong are as follows:

(1) We currently have no plan to allow payment of stamp duty on non-residential property transactions by instalments, based on three primary considerations:

     First, the stamp duty for non-residential property transactions currently ranges from $100 to a maximum rate of 4.25 per cent, constituting only a very small portion of the transaction cost. The maximum rate only applies to a transaction with an amount or value of consideration exceeding about $21.74 million. As stamp duty is usually borne by buyers, we do not consider that its current payment arrangement would impose financial pressure on non-residential property owners.

     Second, according to the Stamp Duty Ordinance, the Collector of Stamp Revenue should stamp an instrument upon payment of stamp duty. In other words, the instruments cannot be stamped before payment of all instalments. Generally speaking, instruments that are not stamped cannot be received in evidence in civil proceedings, nor can they be registered at the Land Registry.

     Third, the volume of the non-residential property market has been relatively stable over the past year. According to the statistics of the Inland Revenue Department, the first quarter of 2025-26 recorded approximately 3 600 stamping applications for non-residential properties, representing a year-on-year increase by about 17 per cent. Total transaction value also increased by more than 30 per cent to about $20 billion. Therefore, we do not see a need to change the payment arrangement of stamp duty on non-residential properties.

(2) As I mentioned earlier, the Government has been promoting inward investment and closely monitoring the situation and developments in the non-residential property market.

     Regarding the suggestions mentioned in the question, I would briefly respond as follows:

     The Hong Kong Monetary Authority currently does not impose any restriction on the mortgage-to-income ratio nor loan-to-value ratio for investors outside Hong Kong. When considering loan applications, each bank takes into account a range of factors, including the bank’s business strategy, the purpose of the loan, the customer’s credit history and repayment ability, to comprehensively assess whether to approve the loan and its terms. Whether a bank offers mortgage loan incentives (such as cash rebates) to applicants is its commercial decision.

     Currently, the New Capital Investment Entrant Scheme allows applicants to invest in both residential and non-residential properties. The amount that is counted towards the total capital investment is subject to a cap of HK$10 million, already representing one-third of the scheme’s minimum investment requirement. The Government will continue to review the investment patterns of applicants and evaluate the arrangements as necessary.

     In end February 2023, the Government has raised the maximum value of properties chargeable to $100 stamp duty from $2 million to $3 million and adjusted other value bands of stamp duty. In end February 2025, the Government has further raised the maximum value of properties chargeable to $100 stamp duty to $4 million. These measures help reduce the stamp duty of some residential and non-residential property transactions. We currently have no plan to further adjust stamp duty to promote inward investments.

(3) Currently, rates for non-residential properties are charged at 5 per cent of the rateable values of the properties, which is the same as that for residential properties with rateable values of or below $550,000. The RVD conducts annual general revaluation for all properties, including non-residential properties, so as to ensure that the rateable values for charging rates and government rent are assessed based on the latest market rental level. According to the statistics of RVD, rental indices and rateable values of private offices decreased by about 18 per cent and 16 per cent respectively in the five years between October 2019 and October 2024. These figures show that the RVD’s valuation has properly reflected the change in market rental level in recent years, which reduces the rates for non-residential properties. Furthermore, the progressive rating system implemented since 2025 does not apply to non-residential properties, with the rates percentage charge for which maintaining at 5 per cent. We therefore consider the current rates percentage charge for non-residential properties reasonable, and the annual revaluation of rateable values responsive to the latest market dynamics.

     Thank you, President.

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Scientific Committee on Vaccine Preventable Diseases updates recommendations on use of meningococcal vaccines

Source: Hong Kong Government special administrative region

Scientific Committee on Vaccine Preventable Diseases updates recommendations on use of meningococcal vaccinesTravellers should seek professional advice from doctors for meningococcal vaccination. Doctors will take into account their age, health conditions, and details of the journeys (including destination, duration and activities) when giving the vaccination advice. In addition, the aforementioned three categories of individuals with immunodeficiency and relevant laboratory workers should seek advice from doctors for meningococcal vaccination as appropriate based on their underlying medical conditions and the risk of occupational exposure respectively.
 
The SCVPD will continue to monitor the scientific evidence, local epidemiology and recommendations from the WHO and overseas authorities, to review the recommendations on the use of meningococcal vaccinations from a public health perspective as appropriate.
 
The recommendations of the SCVPD have been uploaded to the CHP websiteIssued at HKT 12:40

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LCQ22: Arrangements for registration of persons services

Source: Hong Kong Government special administrative region

LCQ22: Arrangements for registration of persons services 
Question:
 
It has been reported that the Registration of Persons – Hong Kong Office (Hong Kong Office) of the Immigration Department (ImmD), which is located on the 8th floor of the Immigration Tower in Wan Chai, is expected to relocate within 2026. Regarding the arrangements for registration of persons (ROP) services, will the Government inform this Council:
 
(1) of the usage figures and expenditures of each ROP office in the past three years;
 
(2) of the relocation details (including the timetable) of the Hong Kong Office;
 
(3) of the criteria adopted by the Government for determining the new location of the Hong Kong Office, e.g. whether it will consider facilitating members of the public to renew their Mainland Travel Permits for Hong Kong and Macao Residents concurrently, or relocating the office to the area of Wan Chai District or the Central and Western District in the vicinity of the original location; if so, of the details; if not, the reasons for that;
 
(4) given that apart from the Hong Kong Office, the ImmD currently also operates the Hong Kong Island Travel Documents Issuing Office in the Harbour Building in Central, as well as the Births and Deaths General Register Office and the Marriage Registration and Records Office in the Queensway Government Offices respectively, and as the Queensway Government Offices have been reserved for the expansion of the High Court, whether the authorities have plans to consolidate the offices in the aforesaid three locations into one integrated office, so as to optimise the use of resources and achieve synergy; if so, of the details; if not, the reasons for that; and
 
(5) in order to facilitate members of the public to use self-service kiosks to apply for or collect documents outside office hours, whether the Hong Kong Office will set up Personal Documentation Submission Kiosks after its relocation, so as to provide automated services for the applications for identity cards and Hong Kong Special Administrative Region passports; if so, of the details; if not, the reasons for that?
 
Reply:
 
President,

In consultation with the Commerce and Economic Development Bureau and the Financial Services and the Treasury Bureau, a reply to the questions raised by the Hon Chan Hak-kan is as follows: 

 @The usage statistics reflect the number of applications, document collections and enquiries at each office (rounded to the nearest thousand). In 2023, usage was significantly higher due to factors including resumption of normal travel between Hong Kong and the Mainland.
^The extended service hours of the four ROP Offices began on March 6, 2023 and ended on December 31, 2024.
*The ROP – Kwun Tong Office was relocated to the new headquarters in Tseung Kwan O on June 11, 2024, and renamed as the ROP – Tseung Kwan O Office.
#The ROP – Kwun Tong (Temporary) Office commenced operations on November 1, 2023.

As operating ROP Offices is part of the regular duties of the ImmD, the ImmD does not maintain a separate breakdown of the operation expenses for each ROP Office. The salaries expenses related to ROP Offices in the past three financial years are tabulated below:
 

YearNote: Including salaries expenses of civil servants and contract staff. Apart from operating the six regular ROP Offices, given the surge in the demand for Hong Kong identity cards-related services after the pandemic, the ImmD extended operating hours of four ROP Offices from March 6, 2023 to December 31, 2024, and established the ROP – Kwun Tong (Temporary) Office on November 1, 2023 through internal redeployment of manpower, with a view to enhancing the overall handling capacity of ROP Offices. The ImmD coped with the demand for Hong Kong identity cards-related services through flexible manpower deployment and does not maintain a breakdown of salaries expenses for each ROP Office.

(2) To provide more convention and exhibition (C&E) facilities for fostering the long-term development of the Hong Kong C&E industry, the Government is taking forward the Wan Chai North Redevelopment project near the Hong Kong Convention and Exhibition Centre as planned, including the redevelopment of the sites of the Wan Chai Government Offices Compound, Gloucester Road Garden and the Kong Wan Fire Station into C&E facilities, hotel and office.Issued at HKT 12:00

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Working Guidelines on the Panel of Guangdong-Hong Kong-Macao Greater Bay Area Arbitrators officially promulgated and nomination exercise for GBA arbitrators (Hong Kong) commences today

Source: Hong Kong Government special administrative region

Working Guidelines on the Panel of Guangdong-Hong Kong-Macao Greater Bay Area Arbitrators officially promulgated and nomination exercise for GBA arbitrators (Hong Kong) commences today 
     The legal systems of Guangdong, Hong Kong and Macao within the GBA are different. There are also differences in the arbitration models, systems and development among the three places. To promote the complementary advantages of arbitration resources and facilitate the interface of the arbitration mechanisms of the three places, the three places jointly agreed to establish the Panel of GBA Arbitrators. The sixth Guangdong-Hong Kong-Macao Greater Bay Area Legal Departments Joint Conference endorsed the Working Guidelines on November 18, 2024, setting out the operational details such as the criteria for the nomination of GBA arbitrators, nomination procedures for GBA arbitrators, the use of the Panel, and the supervisory regulations. The Working Guidelines are now available on the Department of Justice (DoJ)’s website 
To establish the Panel, the nomination exercise for GBA arbitrators (Hong Kong) commenced today in accordance with the Working Guidelines. Details of the nomination exercise are provided on the DoJ’s website 
For enquiries, please contact the Alternative Dispute Resolution Team of the DoJ (email: arbitration@doj.gov.hkIssued at HKT 12:00

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Visite d’entreprises par le membre Christopher Gygès

Source: Gouvernement de la Nouvelle-Caledonie

Christopher Gygès, membre du gouvernement en charge de l’économie, du commerce extérieur, de la fiscalité, du travail et de l’emploi, de l’énergie, du numérique et de l’attractivité de la Nouvelle-Calédonie, procédera à différents déplacements ce jeudi 31 juillet 2025 :

  •  8 heures à la Station N : cette visite a pour but d’inaugurer officiellement la programmation événementielle de la Station N, hub de l’entrepreneuriat et de la tech en Nouvelle-Calédonie.

Avec plus de 75 participants, cet évènement permettra d’introduire et de sensibiliser les acteurs économiques au sujet stratégique que constitue la cybersécurité et l’importance de créer une culture commune autour de ce sujet pour faire face de la meilleure des manières aux menaces que représentent les cyberattaques sur le territoire.  

 

  •  9h30 à IMA Reef Outlet (ZIZA de Paita – à côté de Veggies) : la société IMA Reef a été entièrement détruite lors des événements de mai 2024. Cette visite a pour but de soutenir les entrepreneurs qui œuvrent à la reconstruction économique de la Nouvelle-Calédonie.

 

  • 10h30 à Ateliers Mécanique et Chaudronnerie – AMC (15 rue Auer – Ducos) : Spécialisée dans la chaudronnerie, l’usinage et la découpe industrielle, AMC a su diversifier sa production, au vu de la crise du nickel, en se spécialisant dans la production de bateaux artisanaux de pêche en aluminium.

 

Christopher Gygès poursuivra sa tournée des entreprises le vendredi 1er août à 8h30 en visitant les installations de Data Service Pacific – groupe CIPAC (Rue Gervolino – Magenta). Cette visite s’inscrit dans le cadre du développement d’infrastructures de stockage de données par des opérateurs privés en Nouvelle-Calédonie pour faire de notre territoire un réel Hub dans le secteur.

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LCQ8: Promoting development of new industrialisation

Source: Hong Kong Government special administrative region

LCQ8: Promoting development of new industrialisation 
(1) as the 2022 Policy Address envisaged subsidising the setting up of more smart production lines in Hong Kong under NIFS with the target of increasing the cumulative number of smart production lines by four times from about 30 back then to over 130 in five years, of the current progress in achieving the target; whether the authorities will consider raising the target number of smart production lines in the light of the progress in achieving the target;
 
(2) of the specific details of the streamlined procedures under the enhancement measure; whether it has estimated the extent to which the processing time for applications will be shortened after the introduction of the enhancement measure compared with that before the enhancement, and of the number of manufacturers as well as small and medium enterprises which are expected to benefit from the enhancement measure; and
 
(3) how the authorities will leverage and strengthen the advantages and solid foundations of traditional industries (such as the textiles and garment industry), and support their upgrading and transformation through the integration of innovation and technology, so as to promote the development of new quality productive forces and new industrialisation according to local conditions? 
President, 
(2) The latest enhancement measure for the NIFS aims to speed up the approval process of applications seeking funding support of no more than $2.8 million by streamlining the relevant documentation requirement and assessment procedures. Depending on the number of applications received, the ITC will increase the frequency of the Committee meetings as appropriate, and to submit the applications to the Committee for consideration and approval by circulation if needed. 
(3) New quality productive forces has to be developed according to actual circumstances and local conditions, which facilitate the upgrading and transformation of traditional industries with competitive advantages with the use of innovation and technology (I&T), while simultaneously improve the development ecosystem for new industrialisation.
 
We are committed to promoting the upgrading and transformation of the traditional manufacturing industry with the use of I&T through a series of policies and measures. These include enhancing the NIFS to support more manufacturers in transforming to smart production, as well as launching the two-year “Pilot Manufacturing and Production Line Upgrade Support Scheme” this year to provide funds to local manufacturers on a matching basis, encouraging them to adopt smart production technologies and upgrade their production lines. Furthermore, we will commence a study within this year on the medium to long-term development of new industrialisation in Hong Kong to explore the upgrading and transformation of the traditional manufacturing sector with the use of I&T and accelerate the development of new industrialisation.Issued at HKT 11:10

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Communiqué Tsunami Russie- Risque de tsunami modéré avéré – Mouvements anormaux du niveau de la mer 

Source: Gouvernement de la Nouvelle-Caledonie

Mouvements anormaux du niveau de la mer 
Évacuation du littoral
Pas de déclenchement des sirènes

Un séisme de magnitude 8.7 s’est produit au large du Kamtchatka, en Russie, ce jour, 30 juillet 2025, à 74 km de profondeur.

Compte tenu de sa localisation, de sa profondeur et de sa magnitude, aucun risque de tsunami destructeur n’est avéré pour la Nouvelle-Calédonie.

Cependant, des mouvements anormaux du niveau de la mer de 30 cm à 1 mètre peuvent être observés de 21h00 à 22h30, correspondant à un tsunami de faible intensité. Le premier touché est estimé sur Lifou à 21h00 et  le dernier touché sur le secteur de Numbo à Nouméa à 22h00.

En l’absence de risque de submersion importante du littoral, il n’est pas nécessaire pour la population de se rendre sur les hauteurs ou dans les zones refuge. Néanmoins, il est recommandé d’éviter les abords immédiats du littoral (plages, platiers, mises à l’eau…). Au regard de ces informations, la sécurité civile appelle la population à la plus grande vigilance et à rester informée.