Author: MIL-OSI Publisher

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

     Following is the keynote speech by the Permanent Secretary for Financial Services and the Treasury (Financial Services), Ms Salina Yan, at the Hong Kong Exchanges and Clearing Limited (HKEX)’s Integrated Fund Platform Order Routing Service Launch Ceremony today (July 3):
 
Bonnie (Chief Executive Officer of the HKEX, Ms Bonnie Chan), distinguished guests, ladies and gentlemen,
 
     It is my great pleasure to join you all today at the Launch Ceremony of the Order Routing Service under the Integrated Fund Platform operated by the HKEX.
 
     Digital infrastructure is key to the operation and development of the modern-day capital market. Today’s launch ceremony signifies a solid step in the construction of a market-wide infrastructure for our fund management industry leveraging the advancement in technology.
 
     For the first six months of this year – 2025, the Hong Kong stock market’s daily turnover reached HK$240 billion on average, up 118 per cent year on year. We also saw 44 IPOs (initial public offerings) raising a total of HK$107 billion, surpassing the annual figure of 2024 by 22 per cent and assuming a leading position in the world’s IPO fund raised during the same period this year.
 
     Fund flows in the collective investment scheme and asset management space are equally active. As of end-March 2025, for Hong Kong-domiciled funds, an overall net inflow of about HK$343 billion was recorded over the past 12 months, representing an increase of 285 per cent year on year. The AUM (assets under management) surged by close to 40 per cent, and the number of licensed corporations providing asset management services rose by about 5 per cent.
 
     As our capital market continues to grow in depth and breadth, we need to maintain the robustness and nimbleness of our backbone infrastructure to keep up with the demand and cater for future development. Legislative framework and regulatory regimes also have to be refreshed from time to time in order to bring out the growth potential in the marketplace and remove bottlenecks and inefficiencies that may exist.
 
     For example, to enrich the suite of products that can be made available to the market, the Government has amended the Securities and Futures Ordinance and enacted a new piece of legislation to introduce the open-ended fund company or OFC and limited partnership fund or LPF regimes to enable funds to set up in company and limited partnership forms. The diversified fund structures have been well received. As of the end of May this year, over 560 OFCs have been set up, and nearly 1 150 LPFs have been established in Hong Kong.
 
     In addition, we keep enhancing our connectivity with the Mainland market. For example, since the launch of the Cross-boundary Wealth Management Connect (WMC) 2.0 in the Guangdong-Hong Kong-Macao Greater Bay Area in February 2024 which, among other enhancement measures, allowed the investment quota per investor to go up to RMB3 million, there has been a significant increase in the number of investors and amount of cross-boundary fund remittances. As of end-May 2025, some 158 000 individual investors participated in the WMC. Cross-boundary fund remittances amounted to over RMB115 billion, around seven times increase compared with WMC 1.0.
 
     We are also expanding our international network. Two ETFs (exchange-traded funds) tracking Hong Kong indices were listed on the Saudi Exchange last year. In May this year, we saw Asia’s first investment-grade sukuk ETF listing in Hong Kong, as well as a new Mutual Recognition of Funds arrangement reached with Ireland.
 
     All these market development initiatives are going hand in hand with the upgrading of our financial market infrastructure. The HKSAR (Hong Kong Special Administrative Region) Government has been working with parties concerned to establish paperless, straight-through and one-stop integrated digital platforms for the provision of financial services, taking advantage of fintech developments and the rise of blockchain and AI. The goal is to increase efficiency and lower costs. As a key market operator, the HKEX has an important role to play in this, and we are very pleased to have the HKEX’s active participation and partnership in this journey.
 
     The implementation of an uncertificated securities market in Hong Kong, for example, will be a significant step towards modernising our securities market. It will allow individual investors to own securities in their names without a paper certificate and manage transactions through a digitalised platform. The Government, in collaboration with the Securities and Futures Commission and the HKEX, has completed all the relevant legislative work this year, with a view to launching the regime in the first half of 2026 following market preparations.
 
     Moving from securities to funds, I am glad to note that the first phase of the Integrated Fund Platform, the Fund Repository, has received positive responses for its comprehensive coverage and ease of use. I am also very pleased to note that the second phase of the Platform, the Order Routing Service launched today, has attracted the participation of major banks, transfer agents, brokers and fund houses. Leveraging the Communications Network developed jointly with the Shenzhen Stock Exchange, the Order Routing Service provides end-to-end transmission of subscription and redemption orders among fund distributors and transfer agents. I understand that development work on additional functionalities in the next phase, including nominee services and facilitation of payment and settlement, is under way.
 
     The development of an efficient and vibrant fund distribution ecosystem will drive market efficiency and lower transaction costs. This would in turn benefit end-investors and help realise our vision as the world’s top asset management hub and strengthening our status as an international financial centre. I congratulate the HKEX and its partner organisations on reaching this milestone and look forward to the full operation of a one-stop Platform encompassing the entire functionalities taking heed of user experience and stakeholder feedback. Thank you.

Source: Hong Kong Government special administrative region

Source: Hong Kong Information Services

The Hong Kong Public Libraries will launch the Summer Library Festival 2025 under the theme “Summer Footprints – Stories of Local Culture” in July and August, the Leisure & Cultural Services Department announced today.

 

Through activities including workshops, online programme, exhibitions, etc, the festival aims to deepen the public’s understanding of the life and traditional culture of the city, and raise their interest in reading.

 

Parents and children may join workshops at public libraries in various districts, where they can learn more about the life and culture of Hong Kong, such as the Cheung Chau Jiao Festival, street food and the love for giant pandas through making handicrafts.

 

They can also participate in STEAM (science, technology, engineering, arts and mathematics) workshops to make mini neon signs and distinctive music boxes, while learning about the science behind them. 

 

For teenaged and adult readers, they can opt for taking part in the landscape painting with Hong Kong characteristics workshops to learn about drawing and painting the city’s beautiful scenery with coffee and pencils, or the transportation 3D origami workshops to make paper crafts of Hong Kong’s public transport icons.

 

Furthermore, children can join storytelling workshops to learn about the significance of traditional festivals and make related handicrafts.

 

The Summer Library Festival 2025 also includes a four-episode online programme with the theme “From the Dining Table to the Writing Desk”, exhibitions on the history of Hong Kong in the War of Resistance against Japanese Aggression and intangible cultural heritage, different handicraft and traditional Chinese painting and calligraphy workshops, as well as large-scale calligraphy performances featuring the history and culture of the Qin and Han dynasties.

 

All activities are free of charge. Seat reservations are required for some of the programmes.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

     The Chinese Culture Festival (CCF) 2025, organised by the Leisure and Cultural Services Department (LCSD), has invited the Shanghai Xuhui Chiangqiao Jiangnan Silk and Bamboo Ensemble (the ensemble) to make its Hong Kong debut and stage two concerts in early August. As a representative inheritor organisation of the Intangible Cultural Heritage of Shanghai Municipality, the ensemble’s three representative inheritors of Jiangnan silk and bamboo, along with young professional musicians, will perform a selection of classical pieces from the “Eight Masterpieces of Silk and Bamboo Music” (“Eight Masterpieces”) and other famous compositions. Through century-old string and wind music, they will evoke the authentic cultural essence of the Jiangnan region. 

     Jiangnan silk and bamboo music is a traditional form of ensemble music popular in the southern Jiangsu, western Zhejiang and Shanghai regions, featuring Chinese string (silk) and wind (bamboo) instruments, such as erhu, yangqin, pipa, sanxian, dizi and sheng. It was inscribed on the first list of Intangible Cultural Heritage at the National Level in 2006. Its artistic style is characterised by qualities including delicacy, lightness, finesse and elegance. With diverse variation techniques such as “slowing down” (expanding the original melody’s rhythm and phrasing) and “ornamentation” (inserting new ornamental notes into the melody), complemented by synergy among the musicians and improvisation, the music presents a fascinating kaleidoscope of sound. The repertoire of Jiangnan silk and bamboo music is vast, with the “Eight Masterpieces” being the most representative of the works. 

     Zhou Feng (dizi) and Liu Yuehua (erhu), the representative inheritors of Jiangnan silk and bamboo of Shanghai Municipality, and Mi Peirong (yangqin), representative inheritor of Jiangnan silk and bamboo of Xuhui District, together with accomplished performers of sheng, pipa and sanxian will present two concerts featuring compositions from the “Eight Masterpieces”, including “Song of Joy”, “Sanliu” and “Zhonghua Liuban” as well as famous silk and bamboo classics “Song of the Warm Southerly Breeze” and “Song of Yang Ba”. Furthermore, each concert will feature distinctive selections: the first concert will present “Man Liuban” and “Festival March” from the “Eight Masterpieces”, along with the celebrated silk and bamboo piece “Rainbow Skirt Song”. The second concert will feature “Cloud Celebration” and “Best Wishes” from the “Eight Masterpieces”, as well as the beloved “Moonlight on the Spring River”. 

     The Shanghai Xuhui Chiangqiao Jiangnan Silk and Bamboo Ensemble is dedicated to safeguarding and passing on traditional Jiangnan silk and bamboo music in its pristine form. The ensemble’s members have inherited their musical heritage from previous generations in the family, with decades of performing experience and deep mastery of traditional playing techniques of the musical art form. In 2024, the ensemble was recognised as being among the seventh batch of representative inheritor organisations of the Intangible Cultural Heritage of Shanghai Municipality.

     The first concert by the Shanghai Xuhui Chiangqiao Jiangnan Silk and Bamboo Ensemble will be held at 8pm on August 2 (Saturday) at the Theatre of Ngau Chi Wan Civic Centre. The second concert will be held at 8pm on August 3 (Sunday) at the Theatre of Sheung Wan Civic Centre. Tickets priced at $220 and $280 are now available at URBTIX (www.urbtix.hk). Group booking discounts and package booking discounts are available for purchasing selected CCF stage programmes, the “Chinese Opera Film Shows” of the Chinese Opera Festival (COF) 2025 and the “Legacy and Vision: Conversations with Chinese Cultural Masters” lecture. For telephone bookings, please call 3166 1288. For programme enquiries and concessionary schemes, please call 2268 7321 or visit www.ccf.gov.hk/en/programme/concert-by-shanghai-xuhui-chiangqiao-jiangnan-silk-and-bamboo-ensemble.

     A pre-concert talk entitled “Pure Melodies of Silk Strings: The Elegant Sounds of Jiangnan’s Silk and Bamboo Music” (in Putonghua) will be held at 7pm on August 3 (Sunday) at the Lecture Hall of Sheung Wan Civic Centre. The speakers include Shanghai Conservatory of Music Professor Xiao Mei and Shanghai Normal University Music College Associate Professor Li Ya. They will discuss the development and inheritance of Jiangnan silk and bamboo music and explore the principles of improvisation, guiding audiences to discover its charm and cultural connotations. Admission is free. Limited seats are available on a first-come, first-served basis.

     The CCF, presented by the Culture, Sports and Tourism Bureau and organised by the Chinese Culture Promotion Office under the LCSD, aims to promote Chinese culture and enhance the public’s national identity and cultural confidence. It also aims to attract top-notch artists and arts groups from the Mainland and other parts of the world for exchanges in Chinese arts and culture. The CCF 2025 is held from June to September. Through different performing arts programmes in various forms and related extension activities, including selected programmes of the COF, “Tan Dun WE-Festival”, film screenings, exhibitions, as well as community and school activities and more, the festival provides members of the public and visitors with more opportunities to enjoy distinctive programmes that showcase fine traditional Chinese culture, thereby facilitating patriotic education and contributing to the inheritance, transformation and development of traditional Chinese culture in Hong Kong. For more information about programmes and activities of the CCF 2025, please visit www.ccf.gov.hk.

Source: Hong Kong Government special administrative region – 4

The Secretary for Housing, Ms Winnie Ho, began her visit to Lisbon, Portugal, yesterday (July 2, Lisbon time). She first met with the Secretary of State for Housing in the Ministry of Infrastructure and Housing, Ms Patrícia Gonçalves Costa, to exchange views on the housing policies of the two places. She attended the International Forum on Urbanism (IFoU) held at the Pavilion of Portugal for the previous World Expo afterwards and explored the latest trends of housing planning, design and management, community engagement and more with scholars, industry representatives, professional bodies and students from the Mainland, Europe and the United States. She also took the opportunity to promote Hong Kong’s resident-oriented “Well-being design” concepts and strategies.

Ms Ho attended the IFoU Winter School workshop held in Hong Kong earlier this year, where she shared a vision on public housing projects over the next five years including those in the Northern Metropolis, and how to integrate the eight well-being concepts from the “Well-being design” guide into public housing developments. Speaking at the IFoU, Ms Ho said that she was delighted to be invited again to attend this forum and exchange views with international scholars, political and business sectors and young people on Hong Kong’s public housing design and development.

She stated in the plenary session that public housing construction not only promotes the development of innovative construction technologies, but also enables further exploration of resident-oriented design to build a more interactive, energetic community that enhances intergenerational harmony. The Housing Bureau and the Hong Kong Housing Authority (HKHA) launched the “Well-being design” guide last year, which covers eight well-being concepts, namely “Health & Vitality”, “Green Living and Sustainability”, “Age-Friendliness”, “Intergenerational & Inclusive Living”, “Family & Community Connection”, “Urban Integration”, “Upward Mobility” and “Perception & Image”. It serves as a reference for the future design of new public housing estates and the improvement works of existing estates to create a more comfortable and vibrant living environment for its residents.

Ms Ho said that with 308 000 public housing units to be built in the next 10 years, new public housing estates will have an average of 4 000 to 5 000 units, in which around 10 000 people will reside. The completion of each housing estate is like establishing a new small community, with common areas for various residents’ activities to take place and bring people together. Within a 15-minute living circle, various shops are available to meet the daily needs of residents, and social welfare facilities and schools are provided. Public transportation is available to enable the residents’ commute and help them stay connected with society. The HKHA is also increasing green spaces in the estates through landscaping to promote green, healthy living, and is introducing new technologies to save energy and reduce carbon emissions.

Ms Ho said that Hong Kong can give full play to the role of being a “super connector” through interactions and exchanges in different places: on one hand promoting the HKHA’s evolving design and experiences in construction and management since its establishment over 50 years ago, the application of the “Well-being design” guide and innovative construction technologies to outside of Hong Kong. On the other hand, Hong Kong is gaining a better understanding of the efforts of other places in carbon reduction, energy saving and sustainable development, and more.

The IFoU is an international platform for converging innovative ideas on architecture and urban planning. International conferences and workshops on architecture and urban design are organised in different cities each year, allowing representatives and students from member institutions around the world to exchange ideas. This year’s conference, themed “Future Living” has seven topics, namely “Dwelling”, “Connecting”, “Integrating”, “Adapting”, “Visioning”, “Steering”, and “Sharing”, and was hosted by the University of Lisbon. Participants of the forum explored ideas towards future living environments to foster cross-sectoral co-operation to cope with various challenges, and formulate innovative plans for sustainable development.

After the forum, Ms Ho and the Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), Ms Maisie Chan, had dinner with the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Portuguese Republic, Mr Zhao Bentang, and briefed him on Hong Kong’s latest housing policies and initiatives, including promoting the development of innovative housing construction technologies by capitalising on the strengths of the GBA; leveraging Hong Kong’s important role as a “super connector” and a “super value-adder” between the Mainland and the rest of the world, serving as a two-way springboard for Mainland enterprises to go global, and for attracting overseas enterprises.

Ms Ho will continue her visit in Lisbon today (July 3, Lisbon time) before departing for Barcelona, Spain.

Source: Hong Kong Government special administrative region – 4

Police today (July 3) reclassified a body found case happened in Sham Shui Po yesterday (July 2) as murder and suicide.

At around 11.45am yesterday, Police received a report that a 41-year-old woman and a 33-year-old man were found collapsed in a flat on Fuk Wing Street. Police officers attended the scene and found the woman and the man lying in a room. A basin of burnt charcoal was found next to them. They were certified dead at scene.

Post-mortem examinations will be conducted later to ascertain the cause of their death.

Investigation by the District Crime Squad of Sham Shui Po District is under way. Police appeal to anyone who has information related to the case to contact the investigating officers on 3661 9821.

Source: Hong Kong Government special administrative region – 4

Hong Kong Customs yesterday (July 2) seized about 1.4 kilograms of suspected cocaine, 500 grams of suspected ketamine and 15g of suspected crack cocaine, with a total estimated market value of about $1.4 million, in Sham Shui Po. A 28-year-old man suspected to be connected with the case was arrested.
 
During an anti-narcotics operation conducted in Sham Shui Po yesterday afternoon, Customs intercepted a suspicious man. Customs officers later escorted him to nearby residential premises for a search and seized about 1.4kg of suspected cocaine, 500g of suspected ketamine, 15g of suspected crack cocaine and a batch of suspected drug packaging paraphernalia. He was then arrested.
 
The arrestee has been charged with one count of trafficking in a dangerous drug and will appear at the West Kowloon Magistrates’ Courts tomorrow (July 4).
 
Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
 
Members of the public may report any suspected drug trafficking 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).