Author: MIL-OSI Publisher

Temporary closure of Ngong Ping attraction “Wisdom Path” to carry out refurbishment worksIssued at HKT 16:37

​The Tourism Commission (TC) announced today (May 27) that the “Wisdom Path” will be closed temporarily from June 5 (Thursday) to carry out refurbishment works.

To reduce disturbances to locals and tourists, the “Wisdom Path” will be gradually reopened by the TC as appropriate before the refurbishment works are fully completed. The TC will announce the gradual opening of the “Wisdom Path” through various channels to facilitate the planning of journey by locals and tourists. Subject to actual weather and site conditions, it is expected that all refurbishment works will be complete in the last quarter of 2026.

During the refurbishment works, visitors can enjoy the scenic views of the three-dimensional architecture harmoniously integrated with nature from different viewpoints at the viewing platform located at a section of the Lantau Trail near the “Wisdom Path”. Visitors can also scan QR codes at the viewing platform, which will redirect them to the TC’s website for the history and background of the “Wisdom Path”. The location and photo of the viewing platform are set out in Annex.

The late Professor Jao Tsung-I donated his original calligraphy featuring the “Prajna Paramita Hrdaya Sutra” (Heart Sutra) to the Hong Kong Special Administrative Region in 2002. The calligraphy was reproduced in the form of a large-scale outdoor wood inscription on a natural slope at the foot of Lantau Peak near Ngong Ping on Lantau Island. The timber columns, erected according to the mountain slope and integrated with nature, became a unique large-scale outdoor art piece and was named the “Wisdom Path”. Since its opening in May 2005, the “Wisdom Path” has become one of the tourist attractions on Lantau and has been welcomed by members of the public and visitors. For more details about the “Wisdom Path”, please visit the website: www.tourism.gov.hk/wisdompath.

 A fire broke out at a warehouse in Ha Tsuen, Tin Shui Wai at 12.40pm today (May 27) and was upgraded to No. 3 alarm at 1.33pm.

Firemen are using two jets and mobilising two breathing apparatus teams to fight the blaze.

​One person felt unwell and was being sent to Tuen Mun Hospital for treatment.

SFST visits Toronto and calls on enterprises to develop wealth management and family businesses in Hong Kong Issued at HKT 11:38

The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his five-day visit to Canada on May 26 (Toronto Time). His first stop was Toronto, where he met with representatives of two banks and an insurance group immediately after his arrival in the city.

Mr Hui arrived in Toronto in the afternoon. He started his itinerary with a meeting with the Group Head, RBC Wealth Management, Mr Neil McLaughlin, and Executive Vice President and Global Head, Strategy, Products and Digital Investing, Mr Stuart Rutledge, of the Royal Bank of Canada. He then proceeded to Scotiabank to meet with its Group Head for Global Wealth Management, Ms Jacqui Allard, and Vice President, Strategic Cultural Segments, Mr Amit Brahme.

Both banks are deeply interested in the development of the wealth management business in Hong Kong. Mr Hui shared that Hong Kong is currently the largest cross-border wealth management hub in Asia, and some anticipate that Hong Kong will leap into first place globally by 2028. The family office business is an important segment of the asset and wealth management sector in Hong Kong. As of end-2023, the size of private banking and private wealth management business attributed to family offices and private trusts clients reached US$185.2 billion (HK$1,452 billion), providing huge business opportunities for the asset and wealth management sector and other related professional services (such as legal and accounting services). Mr Hui also highlighted the diversity of financial products in Hong Kong and the latest passage of the stablecoins legislation, providing investors with numerous investment options. The banks were encouraged to utilise the developmental strengths of Hong Kong’s asset and wealth management industry and establish their presence in Hong Kong.

Mr Hui also met with the Group Vice President and Head of Asia of Power Corporation of Canada, Mr Henry Liu, this evening. He introduced to him the facilitation and concession provided by the Government to family offices looking to set up or expand their business in Hong Kong, such as no licence being required for a single family office under the Securities and Futures Ordinance if it does not carry on a business of regulated activity in Hong Kong. Single family offices can also enjoy profit tax exemption for qualifying transactions. Mr Hui highlighted the Government’s efforts in enhancing the preferential tax regimes for funds, single family offices and carried interest, including expanding the scope of “fund” under the tax exemption regime, increasing the types of qualifying transactions eligible for tax concessions for funds and single family offices and enhancing the tax concession arrangement on the distribution of carried interest by private equity funds. The Government targets working out the details of the proposals by this year and submitting the legislative proposals to the Legislative Council for consideration in 2026, striving to implement the relevant measures from the year of assessment 2025/26. Mr Hui called on the company to leverage the ideal business environment with stability and predictability to set up family offices in Hong Kong. Power Corporation of Canada operates a wide range of businesses covering North America, Europe and Asia, including insurance, wealth management and investment businesses.

On May 27 (Toronto Time), Mr Hui will visit two insurance companies, meet with the Hong Kong-Canada Business Association (Toronto Chapter) and attend a business luncheon with financial leaders in Toronto. He will also pay a courtesy call to the Consul-General of the People’s Republic of China in Toronto.

Government announces 30 measures to be implemented by Working Group on Promoting Silver Economy 
     Mr Cheuk said, “Population ageing is becoming an increasingly serious issue around the world, and the situation in Hong Kong is of particular concern. The Census and Statistics Department predicts that by 2043, more than one in every three Hong Kong residents will be an elderly person. In light of this demographic shift, we must actively address the various challenges brought about by an ageing population. At the same time, we should seize development opportunities amid the challenges, explore new industries and new businesses, and break new ground for Hong Kong in a time of change.
 
     “The elderly account for a large proportion of Hong Kong’s population. With favourable financial conditions and purchasing power, they are a huge consumer group that cannot be overlooked, as they create a huge demand for silver economy related products and services. Boosting the silver economy will inject vitality into the local economy and promote overall economic development, as well as spurring the cultivation of high-quality silver products and service modes, so that the elderly can share the fruits of development.”  
 
     The Working Group has proposed 30 measures in five areas, namely: boosting “silver consumption”, developing “silver industry”, promoting “quality assurance of silver products”, enhancing “silver financial and security arrangements”, and unleashing “silver productivity”. This plentiful and practical series of measures involves collaboration across different bureaux and sectors. Jointly promoted by different policy bureaux and multiple organisations from different sectors, the measures aim to boost consumption among the elderly, develop silver products and services, and enhance the recognition of products and services through accreditation to drive sales, make good use of and safeguard the financial resources of the elderly, and attract the elderly to join the labour market, with a view to enhancing social productivity and building a silver-friendly society together. 
 
 (I) Boosting “silver consumption”
 
     Owing to their health conditions and lifestyle practices, the elderly’s consumption needs are different from those of other consumers, with great consumption potential in areas including catering, personal hygiene and healthcare. The Government aims to boost “silver consumption” through various means, including exhibitions and retail concessions, electronic commerce, the Silver Summit, developing catering initiatives for the elderly, and protecting elderly consumers’ rights and interests.
 
     The Commerce and Economic Development Bureau (CEDB) will take the lead in boosting “silver consumption”, and the 11 measures include:
  (II) Developing “silver industry”

     The health and daily needs of the silver-haired group have led to a huge demand for products and services. Silver products (including gerontechnology products) have hence come into being.
 
     The work of developing the “silver industry” is led by the Innovation, Technology and Industry Bureau. The four measures are:
 (III) Promoting “quality assurance of silver products”
 
     Quality assurance for products and services can enhance their acceptance and attractiveness, helping to establish brand value and expand sales network.
 
     The work of promoting “quality assurance of silver products” is led by the CEDB. The four measures are:
 (IV) Enhancing “silver financial and security arrangements”
 
     Elderly people in Hong Kong possess a certain degree of wealth, which provides the prerequisite for developing silver finance. The Government’s objective is to assist the elderly to best utilise their financial resources and financial management tools, and to protect their financial resources through a comprehensive package of measures.
 
     There will be seven measures for enhancing the “silver financial and security arrangements”, which will be led by the Financial Services and the Treasury Bureau:
 (V) Unleashing “silver productivity”
 
     The Government will encourage and assist more elderly persons to join the labour market through employment support and training, as well as the promotion of elderly-friendly employment practices, in a bid to unleash the labour force.
 
     The Labour and Welfare Bureau (LWB) will take the lead in driving the measures for unleashing “silver productivity”, including:
Mr Cheuk said, “The silver economy holds tremendous business opportunities. With the joint efforts of the Government and various sectors, we can certainly expand the scale and industrial chain of the silver economy, enhance the quality of life for the elderly in all aspects, and increase their sense of contentment and happiness.”
 
     The Chief Executive announced in his Policy Address 2024 the setting up of a Working Group on Promoting Silver Economy, led by the Deputy Chief Secretary for Administration, to implement measures in five areas, namely: boosting “silver consumption”, developing “silver industry”, promoting “quality assurance of silver products”, enhancing “silver financial and security arrangements” and unleashing “silver productivity”. Other members of the Working Group include the Secretary for Commerce and Economic Development (Deputy Leader); the Secretary for Labour and Welfare; the Secretary for Innovation, Technology and Industry; the Secretary for Financial Services and the Treasury; and the Secretary for Health.
Issued at HKT 18:08

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Hospital Authority meets with Mainland health officials and delegations  
     The HA participated in meetings between the Health Bureau (HHB) and different delegations, including a delegation led by the Director-General of the Health Commission of Guangdong Province, Mr Liu Liqun. Both parties exchanged views on further strengthening healthcare co-operation and talent exchanges in the Greater Bay Area.
 
     The Chairman of the HA, Mr Henry Fan, said, “The depth and breadth of the Greater Bay Area Healthcare Talents Visiting Programmes, jointly launched by both sides, has been progressively expanding and receiving widespread positive feedback. Moving forward, in alignment with the implementation of the Supplementary Medical Professions (Amendment) Bill 2025, the HA hopes to continue receiving support from the Health Commission of Guangdong Province to explore limited registration arrangements for radiographers to fully participate in clinical work and exchange experiences in Hong Kong.”
 
     In addition to meeting with the Health Commission of Guangdong Province delegation, the HA also participated in other exchange sessions co-ordinated by the HHB. These included meetings with delegations of the Shanghai Municipal Health Commission, the People’s Government of the Tibet Autonomous Region and the Health Commission of the Tibet Autonomous Region.
 
     During the Convention period, the HA also held separate meetings with delegations of the Beijing Municipal Health Commission, the Tianjin Municipal Health Commission, the Health Commission of Zhejiang Province and the Shanghai Hospital Development Centre. These meetings facilitated experience sharing in hospital management, financial management and talent exchanges, etc, deepening co-operation between both sides.
 
     Furthermore, the HA arranged visits for several Mainland delegations to various public hospitals, including Queen Mary Hospital and Kwong Wah Hospital, to understand hospital operations and management, as well as the application of AI and the HA Go mobile application, etc.
 
     The HA also took the opportunity during the visit of the Mainland delegations to hold a welcome ceremony for the doctors and nurses who came to Hong Kong for exchanges, aiming to enhance healthcare standards and expand the healthcare talent pool in both places through mutual learning and complementary strengths. 
Issued at HKT 17:55

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LegCo Subcommittee on Matters Relating to the Development of Smart City observes demonstration of “Smart Environment”  
     Members first received an update on the implementation of “Smart Environment” initiatives under the Smart City Blueprint for Hong Kong 2.0 from representatives of the Government. Members were then briefed on the application of “metamaterial noise barriers” for railway maintenance works and observed demonstrations on the use of various technologies to enhance environmental pollution monitoring, including the use of an “AI robotic dog” and a “mesh network sampling robot squad” to detect pollution sources, an “unmanned water sampling boat” to monitor water quality, and a drone equipped with “miniature sniffing sensor” to detect real-time emissions of air pollutants from ocean-going vessels.
 
     During the visit, Members exchanged views with representatives of the Government on matters such as facilitating the application and the development of technologies for environmental protection.
 
     Members who participated in the visit were the Chairman of the Subcommittee on Matters Relating to the Development of Smart City, Ms Elizabeth Quat, Subcommittee members Mr Andrew Lam, Mr Chan Siu-hung and Professor William Wong; as well as non-Subcommittee member Mr Edward Leung.
Issued at HKT 17:50

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CSTB announces official names of giant panda twin cubs  
The Giant Panda Twin Cubs Naming Competition, organised by the Culture, Sports and Tourism Bureau and co-organised by the Ocean Park Corporation (OPC) earlier, has attracted overwhelming responses. After a review of over 35 700 submissions for the Competition, Jia Jia and De De were selected as the winning entries. The Judging Panel considered the names to be highly meaningful. The elder sister is named Jia Jia, with the Chinese character for Jia (加) conveying the message of support. Having the same pronunciation as the Chinese characters for “home” (家) and “auspices” (嘉) in both Cantonese and Putonghua, Jia also features an element of family and a sense of auspicious grace, embodying the prosperity of families and the nation as well as the happiness of its people. The little brother is named De De. As the Chinese character De (得) means “to succeed”, the name carries the connotation that Hong Kong is successful in everything. Also, De shares the same pronunciation as the Chinese character for “virtue” (德) in both Cantonese and Putonghua, suggesting that giant pandas, as national treasures, possess the virtues cherished by the Chinese people.
 
At the event for the Announcement of Names of Giant Panda Twin Cubs, Miss Law said, “As the Chairperson of the Judging Panel for the Competition, when reviewing the suggested names submitted by members of the public, I was deeply impressed by their love for the cubs. Many suggested names carried profound meanings, while some were cute and joyful. All of the names suggested are filled with our blessings to the giant panda twin cubs.”
 
     “I, on behalf of the Government of the Hong Kong Special Administrative Region (HKSAR), again express heartfelt gratitude to the Central People’s Government for continuously providing strong support and guidance to Hong Kong on the conservation of giant pandas.” She continued, “Over the years, under the Central Government’s guidance, the HKSAR has been given the opportunity to participate in the important task of national giant panda conservation. This fully demonstrates the Central Government’s support and care for the HKSAR.” In addition, she thanked the experts of the China Conservation and Research Centre for the Giant Panda (CCRCGP) and the professional animal care team of the OPC for taking excellent care of all giant pandas in Hong Kong all along, particularly for providing professional postnatal care to mother Ying Ying and taking good care of the giant panda twin cubs. 
 
The Judging Panel members of the Competition include Miss Law; the Chairman of the Board of the OPC, Mr Paulo Pong; the Deputy Director of the CCRCGP and expert for giant pandas, Mr Wei Rongping; Legislative Council Member Mr Kenneth Fok; Hong Kong, China swimming athlete Siobhan Bernadette Haughey; and the Head of Zoological Operations and Conservation of the OPC, Mr Howard Chuk. Details of the Competition can be found on Ocean Park’s dedicated website at www.oceanpark.com.hk/en/park-experience/giant-panda-twin-cubs-naming-competitionIssued at HKT 15:48

Adjustment in ceiling prices for dedicated LPG filling stations in June 2025 
     A department spokesman said that the adjustment on June 1, 2025, would reflect the movement of the LPG international price in May 2025, and the average movement of the latest Composite Consumer Price Index and Nominal Wage Index. The overall adjusted auto-LPG ceiling prices for dedicated LPG filling stations would range from $3.61 to $4.53 per litre, amounting to a decrease of $0.05 to $0.06 per litre.
 
     The spokesman said that the auto-LPG ceiling prices were adjusted according to a pricing formula specified in the contracts. The formula comprises two elements – the LPG international price and the LPG operating price. The LPG international price refers to the LPG international price of the preceding month. The LPG operating price is adjusted on February 1 and June 1 annually according to the average movement of the Composite Consumer Price Index and the Nominal Wage Index. The latest year-on-year rates of change of the Composite Consumer Price Index and the Nominal Wage Index are +1.7 per cent and +3.7 per cent respectively.
 
The auto-LPG ceiling prices for respective dedicated LPG filling stations in June 2025 are as follows: