Author: MIL-OSI Publisher

Source: Hong Kong Government special administrative region – 4

Following are the opening remarks by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the InnoEX Opening Ceremony cum Luncheon today (April 14): 

Dr Gerd Müller (Director General of the United Nations Industrial Development Organization), Sophia (Executive Director of the Hong Kong Trade Development Council, Ms Sophia Chong), Secretary-General Ren Xianliang (Secretary-General of the World Internet Conference), distinguished guests, ladies and gentlemen,

Good afternoon. It is my great pleasure to welcome you all to InnoEX 2026. A special warm welcome to our Guest of Honour, Dr Gerd Müller, Director General of the United Nations Industrial Development Organization, for joining us today.

Today, we celebrate the opening of the fourth edition of InnoEX. This year’s theme – “Innovate • Automate • Elevate” – is all about technology. The four letters “T-E-C-H” aptly describe why we host the annual exhibition, what we strive to achieve, and how we make the best out of this international forum.

“T” stands for Thriving Participation. This year’s InnoEX is buzzing with energy – we have over 550 exhibitors coming from 21 countries and regions, seeing a continuous growth in both number and diversity. As we welcome patrons from Asia, Australia, Europe, the Middle East, North America, we greet new friends from Austria, Germany, Hungary, Israel, the Philippines, Sri Lanka and the United States. Our motherland also continues to show a strong presence, with 18 pavilions from 17 provinces and cities from the Chinese Mainland, and they are coming with larger delegations.

“E” stands for Elevation. At the core of InnoEX 2026 is AI+, empowering innovations with AI. The AI force spurs possibilities and elevates the potentials of robotics, smart living, low-altitude economy, property technology and retail applications. Highlights this year include the “RoboPark” zone showcasing over 100 robots from up-and-coming and heavyweight companies, as well as the Smart Hong Kong Pavilion, staged by our Digital Policy Office to demonstrate Hong Kong’s unwavering commitment to not only having AI for entertainment but also bringing real improvements to people’s lives with AI. 

“C” stands for Connection and Collaboration. InnoEX is more than an exhibition – it is a vibrant nexus where start-ups meet investors, researchers meet industry, and local enterprises meet global markets. InnoEX 2026 hosts more than 80 exchange and networking sessions. The collaborative spirit of InnoEX is further bolstered by myriad events of the “Business of Innovation and Technology Week (BIT Week)”.

Last but not least, “H” stands for Hong Kong. We take pride in hosting InnoEX and the BIT Week events as an international innovation and technology (I&T) centre. Hong Kong enjoys the staunch support from our country. With our unique advantages under “one country two systems”, Hong Kong is the best place to link businesses and opportunities between the Chinese Mainland and the rest of the world.

Hong Kong’s leading role as a global I&T hub is cemented by two important events this week. The World Internet Conference Asia-Pacific Summit that opened yesterday here in Hong Kong speaks volume of our role as a “super connector”. Later today, the United Nations Industrial Development Organization and the Innovation, Technology and Industry Bureau will sign a joint statement on collaboration to advance industrial development, innovation and digital transformation.

On this note, I express gratitude to Dr Müller for your visit to Hong Kong, which will lay a solid foundation for international partnerships to help foster inclusive and sustainable industrial solutions to the world.

Ladies and gentlemen, T-E-C-H is not just an acronym – it is our promise for the future. My sincere thanks to you all for being part of this exciting journey, and also to our long-standing partner, the Hong Kong Trade Development Council, under the leadership of Sophia, for bringing InnoEX to the next higher level.

May I wish you all a fruitful “InnoEx-perience”, and an enjoyable stay in Hong Kong. Thank you.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Information Services

The World Internet Conference Asia‑Pacific Summit opened today at the Convention & Exhibition Centre, where Chief Executive John Lee delivered remarks.

Building on its successful debut last year, Hong Kong is once again organising the summit which Mr Lee noted underscores Hong Kong’s growing prominence as an international innovation and technology (I&T) hub. 

“No less important, it reinforces our deep integration into national development strategies. The country’s National 15th Five-Year Plan, approved last month, continues to champion Hong Kong’s development as an international I&T hub, let me add. That includes supporting the development of I&T in the Guangdong-Hong Kong-Macao Greater Bay Area.”

He added that the Hong Kong Park of the Hetao Shenzhen‑Hong Kong Science & Technology Innovation Co-operation Zone, which officially opened in December 2025, has attracted more than 70 tenants from key technology sectors, including artificial intelligence (AI) and data science, life and health technology, and new energy. 

“We are also working with Mainland authorities on implementing facilitating policies at the Co-operation Zone. They include enabling the cross-boundary flow of bio-samples and other innovation elements.”

Mr Lee highlighted that AI is central to the Hong Kong Special Administrative Region Government’s accelerating I&T development. 

“We are putting together a comprehensive strategy combining world-class infrastructure, cutting-edge research and development (R&D) and a culture of responsible innovation. The upcoming data facility cluster at Sandy Ridge will further expand Hong Kong’s overall computing power. By 2032, this cluster alone will provide 180,000 petaFLOPS. That is 36 times Hong Kong’s current computing power.

“As for R&D, the Hong Kong Artificial Intelligence Research & Development Institute’s opening, later this year, will help drive breakthroughs from upstream AI R&D. It will also transform midstream and downstream R&D outcomes and expand use cases.”

Themed “Digital and Intelligent Empowerment for Innovative Development – Jointly Building a Community with a Shared Future in Cyberspace”, the two-day summit is expected to gather around 1,000 government and business leaders, representatives of international organisations, experts and scholars from over 50 countries and regions to jointly deepen regional digital collaboration, and create new momentum and advantages towards the development of the Asia-Pacific region.

Director of the Cyberspace Administration of China and World Internet Conference (WIC) Chairman Zhuang Rongwen also delivered remarks at the opening ceremony. 

After the opening ceremony, Secretary for Innovation, Technology & Industry Prof Sun Dong and WIC Secretary-General Ren Xianliang co-hosted the Government-Enterprise Dialogue, engaging in a comprehensive exchange on government-enterprise collaboration to empower business development. 

Financial Secretary Paul Chan and Prof Sun delivered their remarks at the Main Forum and Distinguished Contributors Gala in the afternoon, outlining Hong Kong’s advantages for digital economy and I&T development. 

A Hong Kong Dialogue was also staged to feature emerging technology enterprises to engage in an extensive exchange on frontier I&T trends, jointly envisioning the future directions and opportunities for I&T developments.

A first-ever ministerial meeting was convened and co-hosted by Prof Sun and Mr Ren, providing a premier platform for ministerial officials and representatives of international organisations from across the globe to facilitate high-level exchanges and dialogue. I&T ministers from Samoa, Madagascar, Turkmenistan, Burundi and others conducted rigorous discussions on topics such as how AI promotes high-quality economic growth.

The summit is hosted by the WIC, organised by the Hong Kong SAR Government and co-organised by the Innovation, Technology & Industry Bureau.

Source: Hong Kong Government special administrative region – 4

An incoming passenger was sentenced to a total of six months’ imprisonment with a fine of $6,000 by the Fanling Magistrates’ Courts today (April 13) for possessing duty-not-paid cigarettes and failing to declare them to Customs officers in contravention of the Dutiable Commodities Ordinance (DCO).
 
Customs officers intercepted the incoming 52-year-old female passenger at the Lo Wu Control Point on March 9 and seized 981 duty-not-paid cigarettes from her, with an estimated market value of about $4,000 and a duty potential of about $3,200. She was subsequently arrested and granted bail pending her court appearance.
 
Customs officers yesterday (April 12) seized a total of 5 381 duty-not-paid cigarettes, with an estimated market value of about $22,000 and a duty potential of about $17,700, from the same female passenger and her personal baggage at the Lok Ma Chau Spur Line Control Point. She was arrested again.
 
Customs welcomes the sentence. The custodial sentence has imposed a considerable deterrent effect and reflects the seriousness of the offences.
 
Customs reminds members of the public that under the DCO, cigarettes are dutiable goods to which the DCO applies. Any person who imports, deals with, possesses, sells or buys illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.
 
Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Source: Hong Kong Government special administrative region

　　Hosted by the World Internet Conference (WIC), organised by the Hong Kong Special Administrative Region Government and co-organised by the Innovation, Technology and Industry Bureau, the 2026 WIC Asia‑Pacific Summit officially began today (April 13) at the Hong Kong Convention and Exhibition Centre. Building on its successful debut last year, Hong Kong is once again organising this international Internet flagship event, further reinforcing the city’s role as an international innovation and technology (I&T) centre. Themed “Digital and Intelligent Empowerment for Innovative Development – Jointly Building a Community with a Shared Future in Cyberspace”, the two-day Summit is expected to gather around 1 000 government and business leaders, representatives of international organisations, experts and scholars from over 50 countries and regions to jointly deepen regional digital collaboration, and create new momentum and advantages towards the development of the Asia-Pacific region.

     The WIC once again has designated Hong Kong to host the Asia-Pacific Summit, affirming Hong Kong’s pivotal role as an important bridge and two-way platform connecting the country and the world. At the opening ceremony this morning, the Chief Executive, Mr John Lee, and the Director of the Cyberspace Administration of China and the Chairman of the WIC, Mr Zhuang Rongwen, delivered their remarks respectively. Distinguished speakers including the Minister of Investment, Regional Development and Informatization of the Slovak Republic, Mr Samuel Migal’; the Chief Executive Officer of GSMA Ltd, Mr John Hoffman; and the Chairman of the International AI Governance Association, Mr John Higgins, were invited to share their insights. 
     Alongside the Summit, Hong Kong’s annual I&T mega event, the Business of Innovation and Technology Week (BIT Week), is taking place concurrently in April. The InnoEX, themed “Innovate • Automate • Elevate” this year, brings together I&T enterprises, industry elites and buyers from Hong Kong, the Chinese Mainland and overseas to jointly promote the application of cutting-edge technology solutions in five key areas, namely AI+, robotics, the low-altitude economy, property technology and retail technology, while exploring global collaboration opportunities. The series of exciting I&T activities elevates Hong Kong’s I&T atmosphere to new heights and accelerates the city’s development into an international I&T centre.

Source: Hong Kong Government special administrative region – 4

Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Hong Kong Investment Funds Association (HKIFA)’s 40th Anniversary Cocktail reception today (April 13):
 
Sam (Chairman of the HKIFA, Mr Sam Yu), distinguished guests, industry leaders, and friends from the HKIFA,
 
Good evening. It is a great pleasure of mine to join you this evening to celebrate the 40th Anniversary of the HKIFA. I extend my warmest congratulations to the Association on this significant milestone. For four decades, the HKIFA has been a steadfast pillar of our asset and wealth management industry. You have tirelessly championed professional standards, fostered innovation, facilitated dialogue between the Government, regulators and market participants, and helped position Hong Kong as a premier international financial centre. Your contributions have not only strengthened the industry’s foundation but also inspired the next generation of talent and leaders. Tonight, we honour your remarkable journey and look forward to many more years of fruitful collaboration.
 
Hong Kong’s asset and wealth management sector continues to demonstrate remarkable resilience and dynamism. According to the latest annual survey released last year, our assets under management grew by a robust 13 per cent year on year to over HK$35 trillion. This impressive expansion, representing 11 times our GDP (Gross Domestic Product), was powered by net fund inflows that surged 81 per cent to over HK$700 billion. The positive momentum has carried on, with Hong Kong-domiciled SFC (Securities and Futures Commission)-authorised funds recording net inflows of HK$357 billion for last year, a striking 119 per cent year-on-year increase. More than half of these assets come from investors outside the Chinese Mainland and Hong Kong, underscoring our status as Asia’s primary asset and wealth management hub for international capital.    
 
We are particularly encouraged by the growth in alternative investments and private equity. Hong Kong is now home to over 650 private equity firms, with capital under management reaching US$231 billion as at the end of last year, ranking second in Asia. We are also reinforcing our position as Asia’s largest cross-boundary wealth management centre, with strong expectations that we will soon claim the top spot globally.
 
To sustain this upward trajectory, the Government and regulators have introduced a series of targeted policy measures that build on our core strengths – an open and internationalised market, the rule of law, a regulatory regime aligned with global standards, a rich pool of professional talent, and the free flow of information and capital. In February last year, the SFC issued a circular clarifying the regulatory requirements for authorising closed-ended funds that invest mainly in private assets. This initiative actively encourages sizeable alternative asset funds, including those focused on private equity, private credit, infrastructure, and other areas with regular income streams, to list in Hong Kong. Complementing this, the Mandatory Provident Fund (MPF) Schemes Authority clarified in May last year that MPF Funds may invest in approved listed private equity funds, further broadening potential access to these funds.
 
We are also enhancing our preferential tax regimes for funds, single family offices, and carried interest. Key proposals include expanding the tax exemption regime to cover sizeable funds-of-one, as well as a wider range of qualifying investments such as loans, private credit, digital assets, and precious metals. These measures are targeted for implementation from the year of assessment 2025/26, creating an even more competitive and attractive environment for wealth management activities.
 
Recognising the promising growth potential of the family office and high-net-worth sector, we launched the New Capital Investment Entrant Scheme in March 2024. This scheme aims to attract high-net-worth individuals and fresh capital while enriching our sector. We are delighted that it has already drawn over 3 300 applications with an expected investment value of about HK$99 billion, reflecting strong global confidence in Hong Kong. To further engage the international family office community, we successfully held the fourth edition of the Wealth for Good in Hong Kong Summit last month, bringing together family offices from around the world to exchange ideas on legacy building, innovation, and sustainable wealth growth.
 
Continued development of our market infrastructure remains a key competitive advantage. Our fund infrastructure was advanced through the HKEX (Hong Kong Exchanges and Clearing Limited)’s Integrated Fund Platform. With the Fund Repository launched in December 2024 and the Order Routing Service introduced in July last year, the platform is set to deliver even greater efficiency, lower transaction costs, and broader distribution reach when additional services covering fund sales procedures are rolled out this year.
 
In parallel, we continue to promote the REIT (real estate investment trust) market through regulatory enhancements, investor base expansion, stamp duty waivers on REIT unit transfers, and forthcoming legislative amendments to facilitate privatisation or restructuring of REITs, as well as stamp duty waivers for transferring non-residential properties into REITs seeking listing. Subsidies are also available for eligible open-ended fund companies and REITs to cover a portion of professional service expenses, lowering entry barriers and encouraging more funds to establish or re-domicile in Hong Kong.
 
All these measures form part of our multipronged strategy to sharpen Hong Kong’s competitive edge and cement our position as a leading international asset and wealth management centre. Yet, beyond policies and statistics, what truly sets Hong Kong apart is our shared vision – a vision of a dynamic, innovative, and inclusive financial ecosystem where capital meets opportunity, where talent thrives, and where wealth creation contributes to broader economic and social good. The HKIFA has been an invaluable partner in realising this vision, and I am very confident that, working hand in hand under Sam’s leadership, we will achieve even greater heights in the years ahead.
 
Just now at the beginning of the stage, Sam mentioned the HKIFA’s 40 years of excellence. In Chinese, if you are well-versed in the Confucius teaching, there’s a saying of “When you turn 40, you have no doubts”. That means that you are more determined in the direction that you are taking and in the work that you are doing. I am sure that now with the HKIFA turning 40, you are getting more mature, more determined. We are looking forward to working together with the HKIFA to continue this process of making continued prosperity for the industry, and also at the same time for the future of Hong Kong as a premier Asia asset and also wealth management hub. Thank you.

Source: Hong Kong Government special administrative region