Author: MIL-OSI Publisher

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

     The Census and Statistics Department (C&SD) released today (June 19) the preliminary figures of chain volume measures of Gross Domestic Product (GDP) by economic activity for the first quarter of 2025.
 
     GDP figures by economic activity show the value of production in respect of individual economic activities. The value of production is measured by value added or net output, which is calculated by deducting intermediate input consumed in the process of production from the gross value of output. Volume measures of GDP by economic activity, expressed in terms of chain volume measures net of the effect of price changes, enable analysis of the output growth profiles of individual economic sectors in real terms.
 
     According to the preliminary figures, overall GDP increased by 3.1% in real terms in the first quarter of 2025 over a year earlier, compared with the 2.5% increase in the fourth quarter of 2024.
 
     Analysed by constituent services sector and on a year-on-year comparison, value added in respect of all the services activities taken together increased by 2.6% in real terms in the first quarter of 2025 over a year earlier, compared with the growth of 1.7% in the fourth quarter of 2024.
 
     Value added in the import and export, wholesale and retail trades sector increased by 4.2% in real terms in the first quarter of 2025 over a year earlier, as against the decrease of 0.2% in the fourth quarter of 2024.
 
     Value added in the accommodation and food services sector decreased by 1.8% in real terms in the first quarter of 2025 from a year earlier, as against the growth of 2.6% in the fourth quarter of 2024.
 
     Value added in the transportation, storage, postal and courier services sector increased by 2.9% in real terms in the first quarter of 2025 over a year earlier, compared with the increase of 6.8% in the fourth quarter of 2024.
 
     Value added in the information and communications sector increased by 1.3% in real terms in the first quarter of 2025 over a year earlier, compared with the rise of 1.5% in the fourth quarter of 2024.
 
     Value added in the financing and insurance sector increased by 4.4% in real terms in the first quarter of 2025 over a year earlier, compared with the increase of 1.9% in the fourth quarter of 2024.
 
     Value added in the real estate, professional and business services sector registered a decrease of 0.3% in real terms in the first quarter of 2025 from a year earlier, as against the rise of 1.7% in the fourth quarter of 2024.
 
     Value added in the public administration, social and personal services sector rose by 1.7% in real terms in the first quarter of 2025 over a year earlier, compared with the increase of 3.0% the fourth quarter of 2024.
 
     As for sectors other than the services sectors, value added in the local manufacturing sector increased by 0.7% in real terms in the first quarter of 2025 over a year earlier, compared with the increase of 1.0% in the fourth quarter 2024.
 
     Value added in the electricity, gas and water supply, and waste management sector decreased by 1.4% in real terms in the first quarter of 2025 from a year earlier, as against the increase of 3.0% in the fourth quarter of 2024.
 
     Value added in the construction sector decreased by 1.9% in real terms in the first quarter of 2025 from a year earlier, after the decrease of 4.7% in the fourth quarter of 2024.
 
Further information
 
     The year-on-year percentage changes of GDP by economic activity in real terms from the first quarter of 2024 to the first quarter of 2025 are shown in Table 1. More detailed statistics are given in the report “Gross Domestic Product by Economic Activity”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1030004&scode=250). For enquiries about statistics on GDP by economic activity, please call the National Income Branch (2) of the C&SD at 3903 7005.
 
     Figures of chain volume measures of GDP by economic activity for the first quarter of 2025 are only preliminary at this stage. When more data become available, the preliminary figures will be revised accordingly and can be found at the C&SD website (www.censtatd.gov.hk/en/scode250.html).

Source: Hong Kong Government special administrative region

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, attended the 2025 Lujiazui Forum and related events in Shanghai yesterday (June 18) and today (June 19). Addressing a seminar titled “Collaborative Development of Shanghai and Hong Kong International Financial Centres” today (June 19), he said that Hong Kong and Shanghai are unlocking many more new opportunities for collaborative development with their positions as the country’s “dual engine” financial centres, providing strong support for the country’s “dual circulation” strategy. Mr Hui also met with relevant heads of financial institutions during his stay in Shanghai.
 
This year’s Lujiazui Forum is themed “Financial Opening-up and Cooperation for High-Quality Development in a Changing Global Economy”. Mr Hui attended the opening ceremony and plenary session of the Forum yesterday and addressed today’s seminar where the Hong Kong Financial Services Development Council and the Shanghai Research Center for Financial Stability and Development jointly released a research report on the “Synergistic Development of Shanghai and Hong Kong as International Financial Centres in the New Era”.
 
Speaking at the Plenary Session IV titled “Deepening the Cooperation between Shanghai and Hong Kong as International Financial Centers” yesterday, Mr Hui said, “Riding on the solid foundation of Stock Connect, mutual-market access between financial markets on the Mainland and Hong Kong has been expanding in scope and capacity. Programmes such as Bond Connect, the inclusion of Exchange Traded Funds into Stock Connect, and Swap Connect have been implemented. These programmes enhance not only the product offering for domestic and foreign investors but also the attraction for more capital influx into the capital markets of the two places, promoting long-term development of the markets.
 
“At the same time, Hong Kong needs to further enrich the offerings of its offshore Renminbi (RMB) market to facilitate the adoption of RMB by global market participants. To this end, we will step up efforts in four areas, namely enhancing offshore RMB liquidity, increasing products, improving infrastructure, and expanding new markets.”
 
When talking about stablecoins and central bank digital currencies (CBDCs), Mr Hui pointed out that by utilising the innovative capabilities of private institutions, stablecoins are meant to create and implement new use cases for the digital economy with the integration of the financial system with the real economy. Hong Kong’s stablecoin regulatory framework takes into account both innovation and systemic risk prevention, covering the establishment of a transparent reserve asset system, the introduction of independent third-party institutions for regular audits, and the establishment of risk assessment mechanisms. Separately, the Hong Kong Monetary Authority is currently engaging the industry to carry out initial exploration on wholesale CBDCs.
 
“In future, we anticipate closer collaboration with Shanghai in areas such as financial innovation and green finance to achieve synergy effects.”
 
Yesterday morning, Mr Hui signed the Action Plan for Collaborative Development of Shanghai and Hong Kong International Financial Centres on behalf of the Hong Kong Special Administrative Region Government with Shanghai to promote collaborative development, with a view to further forming a “dual hub” landscape of the two financial centres of Shanghai and Hong Kong, for better promotion of the internationalisation of RMB, thus contributing to a joint effort to building the country into a financial powerhouse. The Action Plan covers a number of measures, including supporting the Shanghai Clearing House (SHCH) to strengthen co-operation with Hong Kong banks and offshore Chinese banks in Hong Kong, supporting Mainland banks and financial institutions headquartered in Shanghai to set up regional headquarters in Hong Kong, and pressing ahead with the linkage of the Faster Payment System in Hong Kong with the Internet Banking Payment System on the Mainland.
 
During his stay in Shanghai, Mr Hui also visited several financial institutions, including the Shanghai Gold Exchange, the SHCH, and the Shanghai Futures Exchange, and met with Deputy Chief Executive of the Bank of China (Hong Kong) Mr Wang Huabin, and the President of Bank of Communications, Mr Zhang Baojiang, to discuss and exchange views to explore opportunities and models for co-operation regarding matters such as promoting gold market development in Hong Kong, enhancement to the offerings of the offshore RMB centre, and fostering collaborative development with the Mainland in financial derivatives and futures markets.
 
Mr Hui will return to Hong Kong this afternoon.

Source: Republic of China Taiwan

Taiwan Sugar Corporation (Taisugar) convened its 2025 Annual Shareholders’ Meeting at 10 a.m. today (June 12) at the Tainan Head Office. According to reports presented at the meeting, Taisugar recorded NT$31.435 billion in operating revenue and NT$2.941 billion in operating profit for 2024, exceeding budgeted figures by NT$1.641 billion and NT$1.363 billion, respectively. Taisugar successfully achieved its financial targets and approved a cash dividend of NT$0.9 per share for the fiscal year.

Taisugar stated that in response to changes in the market environment, it continued to refine its business operations and implement goal-oriented management, resulting in steady growth in revenue and profit. In support of the government’s net-zero carbon policy, Taisugar had installed a total of 543.64 MW in solar photovoltaic facilities by the end of 2024. Additional initiatives include forest carbon sink projects, international smallholder carbon farming projects, conversion of factory boilers to natural gas (reducing annual carbon emissions by more than 20,000 tCO2e), and a sugar mill biomass carbon capture and utilization project. Taisugar is also accelerating the modernization of eco-friendly pig farms to advance its low-carbon transformation goals. Moreover, Taisugar continues to make land available to support the development of social housing and long-term care services in line with government policies. Six educational campuses under its administration have been converted into social housing units, addressing the housing needs of youth and underprivileged groups.

Taisugar also reported strong performance over the past year in both sustainability and product and service excellence. The company received numerous honors, including the Taiwan Top 100 Sustainability Exemplary Enterprises Award, the TSAA Sustainability Action Award, the National Enterprise Environmental Protection Silver Award, an award at the Taiwan International Orchid Show, the Eco-Friendly Hotel Certification, the ITI Superior Taste Award-often referred to as the “Michelin Guide of the food industry”-and the Gold Award for Excellence in Occupational Safety and Health Engineering. In terms of innovation, Taisugar received the Agri-Tech Startups Award. In collaboration with the National Kaohsiung. University of Hospitality and Tourism, the company developed terroir-inspired rhum agricole using fresh sugarcane juice . After winning recognition at the World Spirits Competition in both 2023 and 2024, the rum once again shone this year, receiving two Grand Gold Medals at the Vinalies Internationales Competition in France. Taisugar also teamed up with Michelin-starred restaurants to launch curated food and rum pairing events, fully showcasing the achievements of local food and beverage innovation through industry-academia collaboration.

Taisugar stated that these awards are not only a form of recognition but also a source of motivation. Looking ahead, the company will continue to strengthen corporate governance, fulfill its corporate social responsibilities, and stay committed to its sustainable net-zero goals. This year, under the theme of “Safe to Eat, Fun to Explore, and Green Living, ” Taisugar has thoughtfully curated a set of shareholder gifts that are both practical and aligned with sustainability values. The gift set includes one pack each of Taisugar’s “Tang Gan Mi Tian” organic white rice and brown rice (900g per pack), two one-way 50% discount coupons for the Chiayi Suantou Sugar Factory Cultural Park’s vintage narrow-gauge train ride to the Southern Branch of the National Palace Museum, and a reusable canvas tote bag featuring the “Xun Mi Narrow-Gauge Train” as its key visual. This well-rounded and distinctive selection reflects Taisugar’s corporate culture and brand philosophy. With these gifts, shareholders can enjoy premium, safe, and chemical-free organic rice; experience a nostalgic journey on the vintage narrow-gauge train celebrating a century of sugar history and millennia of cultural heritage; and embrace eco-friendly habits by using the canvas tote bag in daily life-collectively supporting a greener and more sustainable lifestyle.

TSC News Contact Person:
Chang Mu-Jung
Public Relations, Department of Secretariat, TSC
Contact Number: 886-6-337-8819 / 886-920-636-951
Email:a63449@taisugar.com.tw

Source: Hong Kong Information Services

Secretary for Commerce & Economic Development Algernon Yau today welcomed the Consumer Council’s appointment of Alaina Shum as its Chief Executive from August 21.

The appointment was made following an open recruitment and selection process.

Mr Yau said Ms Shum is well placed to lead the Consumer Council due to her extensive management experience in public organisations.

Ms Shum is currently Vocational Training Council Deputy Executive Director, responsible for strategic development work on the Mainland and overseas, and for the promotion of collaboration among various stakeholders.

“I hope that the Consumer Council, under Ms Shum’s leadership, will continue to join hands with various sectors to further enhance the protection of consumer rights and interests,” Mr Yau added.

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Hong Kong Housing Authority:

In response to media enquiries on the three public housing projects, a spokesman for the Hong Kong Housing Authority (HA) today (June 18) gave the following response:

The HA noted the decision of the Court of First Instance of the High Court in favour of Aggressive Construction Company Limited (ACCL)’s application for an interim stay of the execution of the Building Department’s decision to remove ACCL from the register of general building contractors, and the Building Department’s follow up actions regarding this decision. In light of the latest developments, the HA is actively reviewing for practical arrangements and procedures to complete the remaining works, so that citizen in need can move into the public housing units at the earliest possible and minimise the impact on the waiting time for public rental housing.

Source: Hong Kong Information Services

CPC Central Committee Hong Kong & Macao Work Office Director and State Council Hong Kong & Macao Affairs Office Director Xia Baolong arrived in Hong Kong this evening.

Mr Xia will attend the 5th Anniversary of Promulgation & Implementation of Hong Kong National Security Law Forum organised by the Hong Kong Special Administrative Region Government on June 21. He will also take the opportunity to inspect the latest economic and social developments of Hong Kong.

Upon arrival in Hong Kong, Mr Xia went to Government House to meet Chief Executive John Lee and heads of the executive authorities, the legislature and the judiciary, and had exchanges with senior officials of the Hong Kong SAR Government.

Mr Lee expressed gratitude to Mr Xia for his continued concern and support for Hong Kong. He also extended his warmest welcome to Mr Xia on his visit to Hong Kong for the forum and inspection.

Source: Hong Kong Information Services

Secretary for Culture, Sports & Tourism Rosanna Law today visited the Shanghai Museum on People’s Square and a CPC memorial hall, met Shanghai Administration of Sports Director Xu Bin, and attended the WestK Shanghai Week 2025 opening ceremony and dinner.

At the Shanghai Museum on People’s Square, Miss Law was given a guided tour of the exhibition, “On Top of the Pyramid: The Civilization of Ancient Egypt”, and met Shanghai Museum Deputy Director Huang He who shared his experiences in developing and designing creative products.

At a working lunch with Mr Xu, Miss Law shared Hong Kong’s progress and achievements in promoting sports development.

Miss Law hoped through today’s exchange to learn from Shanghai’s experiences in hosting the same events and further improve the preparatory work for the 15th National Games, and the 12th National Games for Persons with Disabilities & the 9th National Special Olympic Games.

In the afternoon, she visited the Memorial Hall of the First National Congress of the Communist Party of China and met the memorial’s Party Committee Secretary and Director Xue Feng.

Noting that the Hong Kong Special Administrative Region Government is setting up a museum on the country’s developments and achievements, and preparing shows related to the 80th anniversary of the victory of the Anti-Japanese War, Miss Law said she intended to seek guidance through the visit.

In the evening, the culture chief attended the WestK Shanghai Week 2025 opening ceremony and dinner.

Addressing the event, she said the WestK Shanghai Week, kick-started today by the West Kowloon Cultural District Authority (WKCDA), is the first time a series of exhibitions and performing arts programmes and cultural exchange activities have been brought outside Hong Kong.

This is not only an important milestone of the Hong Kong SAR Government driving top-notch arts, cultural and creative programmes to go global, but also attracts local and overseas visitors to Hong Kong, she added.

In the morning, Miss Law visited the “WestK x MANNER” limited-edition art collaboration themed store, jointly rolled out by the WKCDA and Shanghai’s beloved coffee brand MANNER COFFEE.

On Tuesday, upon arrival, she had a working lunch with representatives of the Shanghai Shendi Group management to exchange information on the latest tourism situation in Shanghai and Hong Kong as well as toured the Shanghai Disney Resort to learn about its operation and development.

Miss Law returned to Hong Kong this evening.

Source: Republic of China Taiwan

Foreign Minister Lin presents Friendship Medal of Diplomacy to former French Senator Gattolin

Date：2025-06-16
Data Source：Department of European Affairs

June 16, 2025  
No. 211  

Minister of Foreign Affairs Lin Chia-lung presented the Friendship Medal of Diplomacy to former French Senator André Gattolin at the Ministry of Foreign Affairs (MOFA) on the morning of June 16 in recognition of his long-standing efforts to promote Taiwan-France relations and his staunch support of Taiwan’s participation in international organizations.
 
In his speech, Minister Lin stated that Mr. Gattolin had long been a good friend of Taiwan in the French Senate, sparing no effort to speak up for Taiwan over the years. He pointed out that during the COVID-19 outbreak of 2020, Mr. Gattolin had taken the lead in bringing together a total of 110 members from both chambers of the French Parliament to sign an open letter calling for Taiwan’s participation in the World Health Organization, helping Taiwan gain widespread recognition in France and paving the way for the first passage of resolutions supportive of Taiwan in 2021 by both chambers. 
 
He also mentioned that Mr. Gattolin had worked with French parliamentarians friendly to Taiwan to facilitate the adoption of the seven-year Military Programming Law in 2023, reiterating France’s continued defense of freedom of navigation in the Taiwan Strait. He added that during Mr. Gattolin’s tenure as French cochair of the Inter-Parliamentary Alliance on China (IPAC) in 2020, he had enthusiastically encouraged French parliamentarians to participate in various IPAC initiatives. On behalf of MOFA, Minister Lin extended sincere appreciation to Mr. Gattolin for having actively deepened Taiwan-France relations and expressed hope that he would continue to leverage his influence to further this bilateral friendship.
 
Mr. Gattolin said in his remarks that the honor of receiving the medal was not only a recognition of him personally but also a commendation of the French Senate’s Taiwan Friendship Group. He observed that the French Parliament’s support for Taiwan had continued to expand, noting that the Senate’s Taiwan Friendship Group had grown to over 60 members and that they continued to exhort the French government to attach greater importance to Taiwan. He stated that he was profoundly pleased to have been able to facilitate the training of Taiwan’s Olympic and Paralympic teams in his electoral district of Levallois-Perret last year. And as current vice chair of the IPAC Alumni Council, Mr. Gattolin affirmed that he continued to pay close attention to the situation across the Taiwan Strait and the Indo-Pacific region.
 
Deputy Director of the French Office in Taipei Cléa Le Cardeur, former Minister of Taiwan’s Council for Cultural Affairs Tchen Yu-chiou, and Chair of the Egret Cultural and Educational Foundation Lu Chia-hui attended the award ceremony and offered their congratulations. The atmosphere was heartfelt and earnest. (E)