Source: Hong Kong Government special administrative region
Second meeting of Hong Kong/Guangdong Expert Group on Co-developing a Smart City Cluster held Mr Wong said in the meeting that following the inaugural meeting of the EGSCC in Guangzhou last year, members of the Expert Group had dedicated themselves to advancing the related work items. They successfully promoted key initiatives such as Hong Kong/Guangdong unified identity authentication, Cross-boundary Public Services, cultural tourism, transportation interconnection, the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) 5G infrastructure deployment and large-scale commercialisation as well as the cross-boundary flow of data elements. These efforts made significant achievements for the Hong Kong/Guangdong smart city cluster. He expressed hope that the Digital Policy Office (DPO) and the Guangdong Provincial Administration of Government Service and Data could continue to maintain close co-operation to promote the synergistic digital development of the GBA city cluster, and contribute even greater efforts to the joint construction of a world-class city cluster.
Officials from relevant bureaux and departments, including the Innovation, Technology and Industry Bureau, the Culture, Sports and Tourism Bureau, the Development Bureau, the DPO, and the Transport Department, attended the meeting on behalf of the HKSAR Government. Mainland representatives who attended the meeting included officials from the Guangdong Provincial Administration of Government Service and Data, the Guangdong Provincial Public Security Department, the Department of Transport of Guangdong Province, and the Department of Natural Resources of Guangdong Province.Issued at HKT 18:55
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Company director sentenced to community service order for contravening Employment Ordinance
Source: Hong Kong Government special administrative region
Company director sentenced to community service order for contravening Employment Ordinance
The company wilfully and without reasonable excuse contravened requirements of the EO, failing to pay two employees’ wages and payment in lieu of notice within seven days after the expiry of the wage periods and termination of employment contracts of about $306,000, and also failing to pay the awarded sums of about $439,000 within 14 days after the date set by the Labour Tribunal (LT). The former director concerned was prosecuted and convicted for his consent, connivance or neglect in the above offences.
“The ruling will disseminate a strong message to all employers, directors and responsible officers of companies that they have personal liability to ensure payment of wages and sums awarded by the LT or the Minor Employment Claims Adjudication Board to employees within the statutory time limit stipulated in the EO,” a spokesman for the LD said.
???”The LD will not tolerate these offences and will spare no effort in enforcing the law and safeguarding employees’ statutory rights,” the spokesman added.
Issued at HKT 18:30
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Fraudulent social media account related to Bank of Singapore Limited
Source: Hong Kong Government special administrative region
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank of Singapore Limited relating to a fraudulent social media account, which has been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.
The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the social media account concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.
Islands District Office co-ordinates interdepartmental drill on emergency response to flooding in Tai O (with photos)
Source: Hong Kong Government special administrative region
Islands District Office co-ordinates interdepartmental drill on emergency response to flooding in Tai O
The IsDO, the Fire Services Department, the Hong Kong Police Force, the Hong Kong Observatory (HKO), the Drainage Services Department, the Social Welfare Department, the Housing Department, the Civil Engineering and Development Department, the Civil Aid Service, the Tai O Rural Committee, the Neighbourhood Advice-Action Council, the Hong Kong Young Women’s Christian Association Tai O Community Work Office, the Hong Kong Red Cross and the Buddhist Fat Ho Memorial College participated in the drill. The drill simulated an actual situation with unexpected elements to increase the difficulty. Participating departments and organisations were required to carry out rescue tasks immediately under unexpected circumstances, posing challenges to and strengthening their response capabilities.
According to the emergency response plan, when the HKO forecasts that the sea level at Tai O would rise to 3.3 metres above Chart Datum or more in the coming few hours, the emergency response plan for severe flooding in Tai O will be fully activated. The HKO will issue an alert to relevant government departments, organisations, Tai O resident representatives and fishermen representatives by SMS. Upon receipt of the alert, the IsDO will activate an emergency co-ordination centre at the Tai O Rural Committee Office, jointly set up by government departments and non-governmental organisations. The emergency co-ordination centre will co-ordinate any necessary evacuation, rescue and emergency relief efforts for Tai O.
Upon receipt of the HKO’s alert, resident representatives and fishermen representatives in Tai O will also help disseminate the information to residents to enable them to stay vigilant and take refuge in safe locations if necessary. In addition, temporary shelters at the Tai O Rural Committee Office, the Hong Kong Young Women’s Christian Association Tai O Community Work Office and the Buddhist Fat Ho Memorial College, and the Transit Centre situated at Lung Tin Estate will be opened for residents in need.
Issued at HKT 17:20
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DEVB invites market to submit expressions of interest for development of first Advanced Construction Industry Building
Source: Hong Kong Government special administrative region
DEVB invites market to submit expressions of interest for development of first Advanced Construction Industry Building
The spokesperson said that following the initial market sounding exercise conducted by the consultant, the Government is of the view that the project can be developed using the Build-Operate-Transfer (BOT) approach with a 30-year contract period to leverage market financing. Taking into account the required floor height, floor loading capacity and mode of operation of the building, and preliminary feedback from the industry, the Government expects the project to provide a two to four-storey building with a total floor area of around 30 000 to 60 000 square metres, and around 5 000 to 10 000 sq m of open space for loading/unloading and storage. The successful bidder will be responsible for constructing the building and operating the advanced manufacturing facilities related to the construction industry, including not less than 20 000 sq m of the floor area for steel rebar prefabrication yards and not less than 5 000 sq m of the floor area for MiMEP processing sites. Under the current plan, the developer is required to lease not less than 5 000 sq m of the floor area for industry use. Issued at HKT 16:57
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Joint press release of PBoC, SFC and HKMA on further enriching product types of Swap Connect to facilitate high-level opening-up of Mainland’s financial markets
Source: Hong Kong Government special administrative region
Joint press release of PBoC, SFC and HKMA on further enriching product types of Swap Connect to facilitate high-level opening-up of Mainland’s financial markets
To further promote the collaborative development of financial derivatives markets on the Mainland and in Hong Kong, as well as the high-level opening-up of Mainland’s financial markets, after assessing the operational experience of Swap Connect and feedback from Mainland and offshore investors, the People’s Bank of China, the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority plan to further enrich the product types under Swap Connect. First, the tenor of interest rate swap contracts would be extended to 30 years to meet the diverse risk management needs of market institutions. Second, the product scope of Swap Connect would be expanded by including interest rate swap contracts using the Loan Prime Rate (LPR) as the reference rate. Relevant financial infrastructure operators in both markets will roll out these enhancement measures progressively.
Looking ahead, regulatory authorities on the Mainland and in Hong Kong will continue to provide guidance to the financial market infrastructure operators in both markets to continue to enhance relevant arrangements, taking into account the operation experience of Swap Connect, with a view to steadily advancing the further opening-up of Mainland’s financial markets, promoting RMB internationalisation in a steady, orderly and sound manner, and supporting the successful development of Hong Kong as an international financial centre.
Issued at HKT 17:12
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SCED urges APEC member economies to unite in defending rules-based multilateral trading system (with photos)
Source: Hong Kong Government special administrative region
The Secretary for Commerce and Economic Development, Mr Algernon Yau, stressed the importance of upholding the rules-based multilateral trading system at the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting in Jeju, Korea, today (May 15).
Speaking at the session entitled “Connectivity through Multilateral Trading System”, Mr Yau said that the recent upheaval caused by unilateral tariff measures poses a threat to the multilateral trading system, representing an imminent challenge to the global trade landscape. The substantive progress made at the high-level meetings between two economies, where both sides have agreed to significantly reduce their bilateral tariffs and continue discussions in a spirit of openness, continuous communication, co-operation and mutual respect, marked a pivotal step towards fostering stability in global trade and reinforces the shared commitment to advancing constructive economic relations within the APEC region and beyond.
He pointed out that, as a free port, Hong Kong has long championed free trade in the past and remains firmly committed to the rules-based multilateral trading system now and in the future. Hong Kong also remains committed to engaging in constructive dialogues to enhance the World Trade Organization (WTO)’s functionality, resilience and effectiveness.
Mr Yau called upon member economies to unite in defending the open, predictable and inclusive character of global trade and to collaborate closely to uphold and strengthen the system, thereby safeguarding global economic stability.
Meanwhile, Mr Yau encouraged member economies to intensify collaborative efforts to finish the unfinished business at the 13th WTO Ministerial Conference, such as bringing into force the Agreement on Fisheries Subsidies, and incorporating the plurilateral Investment Facilitation for Development Agreement into the WTO legal architecture. Demonstrating concrete progress will assure the global community that the WTO remains vibrant, effective and capable of addressing contemporary trade challenges effectively.
At another discussion session entitled “AI Innovation for Trade Facilitation”, Mr Yau said that digitalisation, coupled with AI, has been quickly transforming businesses, unlocking new opportunities, and redefining how goods and services move across borders these days.
He noted that Hong Kong is keen to embrace the transformative power of AI in trade. For instance, innovative technologies such as AI-powered tools have been adopted to ensure effective enforcement controls while streamlining customs clearance procedures. The final phase of the Trade Single Window will establish a highly automated cargo risk assessment engine to expedite clearance using AI.
Mr Yau said that while there are a number of ongoing discussions in international forums to discuss AI development, including rules setting and governance, there is much room for collaboration among member economies on AI in trade. He added that in the current era with rising protectionism and unilateralism, it has become even more important for APEC to showcase to the world that regional economic co-operation in the area of AI matters and can bring benefits to the people of the entire region. He added that Hong Kong is ready to contribute and collaborate with fellow member economies to harness AI for trade and to drive high-quality growth across the region.
On the margins of the MRT Meeting today, Mr Yau met with the China International Trade Representative and Vice Minister of Commerce, Mr Li Chenggang; the Deputy Minister for Trade of Korea, Mr Park Jong-won; as well as the Minister for Trade and Investment of New Zealand, Mr Todd McClay, separately to exchange views on various issues of mutual concern.
Mr Yau also paid a courtesy call on the Governor of Jeju Special Self-Governing Province, Mr Oh Young Hun, yesterday (May 14) to give him an update on the latest developments of Hong Kong and exchange views on promoting closer bilateral relations.
Mr Yau will continue to join the MRT Meeting tomorrow (May 16).
Speech by SCED at APEC MRT Meeting discussion session on Connectivity through Multilateral Trading System (English only)
Source: Hong Kong Government special administrative region
Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the discussion session entitled “Connectivity through Multilateral Trading System” at the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting in Jeju, Korea, today (May 15):
Good afternoon, Chair, WTO Director-General (Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala), and colleagues.
The recent upheaval caused by one economy’s unilateral tariff measures on all other economies poses a threat to the multilateral trading system, representing an imminent challenge to the global trade landscape today.
We are pleased to note the substantive progress made at the high-level meetings between two economies, where both sides have agreed to significantly reduce their bilateral tariffs and continue discussions in a spirit of openness, continuous communication, co-operation and mutual respect. This development marks a pivotal step towards fostering stability in global trade and reinforces our shared commitment to advancing constructive economic relations within the APEC region and beyond. Continued collaboration under this framework will undoubtedly contribute to inclusive growth and a rules-based multilateral trading system.
Hong Kong, China (HKC), as one of the freest economies in the world, reaffirms our unwavering commitment to free trade principles and the WTO-centred multilateral trading system. We firmly believe that sustainable solutions to trade disputes can only be achieved through constructive dialogue, adherence to internationally agreed rules, and a shared pursuit of equitable outcomes. We call upon all members to unite in defending the open, predictable and inclusive character of global trade.
As the WTO commemorates its 30th anniversary this year, it is deeply disheartening to witness one of its founding members attempting to rip the organisation apart, after years of unilateral action in crippling its dispute settlement function. While reforms are indeed necessary to keep the decades-old organisation relevant amid evolving global challenges, aggressive and erratic trade actions that create economic chaos only serve to escalate tensions and instability.
As a free port, HKC has long championed free trade in the past and remains firmly committed to the rules-based multilateral trading system now and in the future. We remain committed to engaging in constructive dialogues to enhance the WTO’s functionality, resilience and effectiveness. At this critical time, we call on APEC member economies who cherish the multilateral trading system to collaborate closely to uphold and strengthen the system, thereby safeguarding global economic stability.
Looking ahead to the 14th Ministerial Conference (MC14) which is less than a year away, with the rapidly evolving situation, telling what lies ahead until then may seem elusive. Nevertheless, HKC remains hopeful and determined to achieve tangible and positive outcomes at MC14 – many of which are in fact long overdue. Beyond the dispute settlement reform, our priorities include bringing into force the Agreement on Fisheries Subsidies and concluding the second wave of the fisheries subsidies negotiations, both of which are still so near, yet so far. We must strive to finish the unfinished business at MC13 to incorporate the plurilateral Investment Facilitation for Development (IFD) Agreement into the WTO legal architecture. In this regard, we fully support the APEC Statement in support of the WTO Joint Statement Initiative on IFD, championed by Korea, which would send a strong political signal of APEC’s commitment to the swift and successful integration of this landmark agreement into the WTO framework.
We also stand by finding a permanent solution to, or at least securing an extension of the WTO e-commerce moratorium, and support the early incorporation of the Agreement on Electronic Commerce into the WTO legal framework, which will provide the much needed clarity and stability for e-commerce business worldwide. We strongly encourage APEC member economies to intensify collaborative efforts to achieve these goals by MC14. Demonstrating concrete progress will assure the global community that the WTO remains vibrant, effective and capable of addressing contemporary trade challenges effectively.
Thank you.
Speech by SCED at APEC MRT Meeting discussion session on AI Innovation for Trade Facilitation (English only)
Source: Hong Kong Government special administrative region
​Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the discussion session entitled “AI Innovation for Trade Facilitation” at the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting in Jeju, Korea, today (May 15):
Good afternoon, Chair and fellow Ministers.
Let me begin by expressing my sincere gratitude to Korea for the warm hospitality extended to the Hong Kong, China (HKC) delegation and for hosting us in this beautiful island of Jeju.
Digitalisation, coupled with artificial intelligence (AI), has been quickly transforming businesses, unlocking new opportunities, and redefining how goods and services move across borders these days. As part of HKC’s wider efforts in developing the AI industry, we have, as early as in 2022, set out clear strategic directions and a detailed action plan for promoting the development of AI in our Hong Kong Innovation and Technology Development Blueprint.
HKC is also keen to embrace the transformative power of AI in trade. For instance, innovative technologies such as AI-powered tools have been adopted to ensure effective enforcement controls while streamlining customs clearance procedures. Our final phase of the Trade Single Window will establish a highly automated cargo risk assessment engine to expedite clearance using AI, and we expect this to be rolled out next year. Our Customs and Excise Department is also modernising its information technology infrastructure, thus enabling the use of a sophisticated data pipeline with the latest AI technologies.
As with every new innovative development, whilst we grasp the opportunities and benefits, it is at the same time crucial to ensure such developments are ethical, responsible and inclusive. To this end, HKC has adopted a pro-innovation regulatory approach to construct a well-balanced governance framework that could cater to all stakeholders in the AI ecosystem. Just a few weeks ago, the Hong Kong Generative Artificial Intelligence Technical and Application Guideline was released to provide practical operational guidelines for technology developers, service providers and users in the application of generative AI technology. Furthermore, we plan to amend our legislation in order to further enhance HKC’s copyright regime regarding protection for AI technology development.
We recognise that AI is utilised across different sectors, with trade being just one of them. We are also acutely aware that there are a number of ongoing discussions in international forums to discuss AI development, including rules setting and governance. This notwithstanding, we see much room for collaboration amongst member economies on AI in trade, particularly on its applications for trade facilitation measures and customs procedures in APEC.
In the current era with rising protectionism and unilateralism, it has become even more important for APEC to showcase to the world that regional economic co-operation in the area of AI matters and can bring benefits to the people of the entire region. APEC should leverage its role to foster regional dialogue on ensuring safe and responsible use of AI for trade, exchange experiences and knowledge, promote public-private collaboration, enhance transparency of regulatory frameworks, and strengthen partnerships among member economies, taking into account the different development stages of member economies.
HKC is ready to contribute and collaborate with fellow member economies to harness AI for trade and to drive high-quality growth across the region.
Thank you.
Credit card lending survey results for first quarter 2025
Source: Hong Kong Government special administrative region
Credit card lending survey results for first quarter 2025Issued at HKT 16:30
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