SAMOA POLICE WOMEN ADVISORY NETWORK (SPWAN) CELEBRATED INTERNATIONAL WOMEN’S DAY BY DONATING TO SVSG CAMPUS OF HOPE.

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[MEDIA RELEASE – Apia: 12 Mar 2025.] As SPWAN (Samoa Police Women Advisory Network) commemorated International Women’s Day 2025 under the theme “Accelerate Action” their commitment to making a lasting difference in our community was clearly demonstrated through their thoughtful contributions to SVSG. Their visit to the Campus of Hope not only provided essential goods but also brought an abundance of hope, encouragement, and solidarity to the survivors of violence and abuse we care for.

Around 30 female officers from the SPWAN visited the SVSG Campus, led by Deputy Commissioner of Police Papali’i Monalisa Tia’i-Keti and Assistant Commissioner Papali’i Efo Peiko Moalele.

This ongoing partnership between SVSG and SPWAN is a powerful reflection of our shared mission to protect, uplift, and empower the most vulnerable members of our community. We deeply commend SPWAN’s dedication to service and their steadfast support for women, children, and victims of violence.

The visit and generous donation from this remarkable group of women in positions of authority have greatly uplifted the spirits of the young survivors at the Campus of Hope. In particular, their presence has empowered the young female residents to embrace resilience and take positive action toward change. It is truly inspiring to witness how these women, who dedicate their lives to law enforcement as police officers, also serve as powerful role models by reaching out and giving back to support vulnerable victims in our community.

SVSG President Siliniu. Lina Chang, expressed her heart felt gratitude to the SPWAN leaders and members and reiterated on the words of blessing, quoted; “May your leadership and advocacy continue to inspire meaningful change. Fa’afetai tele lava for standing with us on this journey of hope and healing.”

The young residents of the Campus of Hope ended the day with uplifted spirits and hearts full of happiness.

END.

SOURCE – Samoa Victim Support Group

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OFFICIAL OPENING OF THE SAMOA TOURISM EXCHANGE 2025 EVENT

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KEYNOTE ADDRESS By Honourable Fiame Naomi Mata’afa, Prime Minister And Minister Of Tourism at the Official Opening of the Samoa Tourism Exchange 2025 – (Wednesday, 5th March 2025, Samoa Tourism Cultural Village)

Lau Susuga i le Taitai ole Sauniga, Reverand Ellice Soliola

Honourable Members of Cabinet

Distinguished Members of the Diplomatic Corps

Distinguished Guests/ Participants

Ladies and Gentlemen,

Talofa Lava and a pleasant good evening to you all.

I am delighted to be in your company for the Opening ceremony this evening of the 2025 Samoa Tourism Exchange. On behalf of the Government, and especially the people of Samoa, it is my pleasure and honour to warmly welcome all of you to our beloved country, Beautiful Samoa.

The theme for this year, Resilient Tourism and a Sustainable Future, could not be more fitting, as we navigate the ever-evolving landscape of global travel while safeguarding the natural and cultural heritage that makes Samoa unique.

As we embark on this journey together, it’s essential to acknowledge that tourism has long been a cornerstone of our economy, providing vital income, employment, and opportunities for cultural exchange. It serves as a gateway, welcoming visitors to share in the beauty and richness of our Samoan heritage. Tourism is not just an Industry; it is now a key part of who we are as a community.

The past few years have tested our resilience as an industry with the tourism sector facing significant challenges. Natural disasters, climate change, evolving travel trends, and global crises have threatened to disrupt our livelihoods and diminish our resilience. It is essential that we adapt and innovate in response to these growing global challenges.

Resilience in tourism is not merely about withstanding challenges; it involves thriving in the face of adversity and turning obstacles into opportunities. It requires a collective effort to invest in smart infrastructure, empower local communities, embrace digital innovation, and adopt sustainable practices. As a nation, we must ensure that our tourism sector not only survives but flourishes.

To our tourism operators, Sustainability is no longer an option; it is a necessity. This means prioritizing eco-friendly initiatives, supporting local businesses, and respecting the traditional ways of life that make Samoa unique. As we welcome visitors, we also entrust them with the responsibility to cherish and protect our islands—this is the essence of sustainable travel.

To our international agents and wholesalers. As we engage in discussions throughout this exchange, let us remember the power of storytelling. Every visitor to our islands is an opportunity to share our vibrant culture, our traditions, and our way of life. When we tell our stories authentically, we invite the world to experience the warmth of our “aiga,” our family, our people, and our island home.

As I conclude, I would like to acknowledge the support from the Government of New Zealand through the Samoa Tourism Resilient and Recovery (STRR) Program, which made this event possible. Furthermore, I recognised the valuable contributions of all our sponsors for this year’s event, particularly our Main Sponsors, Fiji Airways, and Air New Zealand, in enhancing the experiences for all delegates at this event. Faafetai Faafetai tele lava.

I am pleased to declare the Samoa Tourism Exchange 2025 officially opened and wish you well in your deliberations.

God bless, Soifua ma ia manuia.

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RECEPTION HOSTED BY THE AMBASSADOR OF CHINA, H.E FEI MINGXING IN CELEBRATION OF THE INTERNATIONAL WOMEN’S DAY

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KEYNOTE ADDRESS by the Prime Minister, Hon Fiame Naomi Mataafa (Friday, 7 March 2025, 5.30pm, Chinese Embassy, Vailima)

Lau afioga Masiofo Faamausili Leinafo Tuimalealiifano

Your Excellency Ambassador and Your Good Lady

Distinguished Good Ladies

Members of the Diplomatic Corps

Invited Guests,

Talofa and good evening,

I am pleased to join the reception this evening to celebrate “International Women’s Day” an annual event to recognize women’s contribution across all fields, to raise awareness about gender equality and to promote the empowerment of women in all spheres of society.

I want to thank the Ambassador of China, His Excellency Fei Mingxing and Madam Li Wenjun for hosting this reception. It is a significant occasion as it is an opportunity to honour and recognise the role of women in our society and their significant contribution to the development of their families, the government and society as a whole. It also provides a platform to evaluate the national scorecard towards gender equality and to address the disparities that remain.

This year’s theme is a call to accelerate action for all women and girls towards gender equality. It gives emphasis to the importance of taking swift and decisive steps to achieve gender equality. It calls for increased momentum and urgency in addressing the systemic barriers and biases that women face, both in personal and professional spheres. For Samoa, it is a reminder to us all to make serious commitment to address the stark realities of unequal opportunities, underrepresentation in parliament and the issue of ever-pervasive gender-based violence.

I also understand that 2025 is a pivotal moment in the global pursuit of gender equality and women’s empowerment, as it marks the 30th anniversary of the Beijing Declaration and Platform for Action and the 50th anniversary of our diplomatic relations with China. The Beijing Platform remains the most progressive and widely endorsed blueprint for women’s and girls’ rights worldwide. It guides policies, programmes and investment that impact critical areas of our lives, such as: education, health, peace, media, political participation, economic empowerment, and the elimination of violence against women and girls. Addressing these issues, along with emerging priorities around climate justice and the power of digital technologies, is urgent, with just five years left to achieve the Sustainable Development Goals. So, it is appropriate that we are hosted in the premises of the Chinese embassy to celebrate these milestones.

Much progress has been achieved in advancing the situation of women in Samoa. Parliament though fractured, continues to look at the best way to address the underrepresentation of women in parliament. Women are now leading the governance institutions of a few male dominated sports such as soccer and cricket. There is growing recognition and support of organisations providing services for victims of violence particularly women and children. There is significant movement in developing screening programs for women’s health issues. Development partners are collaborating with the government in initiatives to promote and accelerate the empowerment of women and youth. However, there is much more to be done still.

I note and acknowledge the presence of many of our female leaders from all walks of life this evening. Your achievements and contributions to society has made a huge difference in promoting, empowering and elevating the status of women in society. Women have a place at all levels of our society, including the top, to change the dynamic, reshape the conversation, to make sure women’s voices resonate throughout generations and capture attention. I would like to share with you one Samoan adage that I believe suitably defines the ambience of this evening which is; “E au le Ina’ilau a tamaitai”. It speaks about women in our society having the determination and fortitude to achieve excellence in whatever they set out to do.

Samoa’s delegation is attending the 69th Commission on the Status of Women that will bring together countries to New York for the next two weeks to review and assess the current challenges that affect the implementation of the Beijing Platform for Action and the achievement of gender equality and the empowerment of women.

Excellencies and Ladies,

Tonight’s reception is one of the many undertakings that we share with the Embassy of China to celebrate the 50th Anniversary of Samoa and China’s strong friendship since the establishment of diplomatic relations in 1975. The unveiling of the Commemorative Logo to celebrate the 50th anniversary of our partnership adds prominence to this evening’s celebrations.

Ladies and gentlemen, please join me in proposing a toast:

“To all the women and girls of Samoa and those present here this evening, I wish you all a Happy International Women’s Day.”

Soifua.

Photo by the Government of Samoa (Leota Marc Membrere)

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CJ concludes visit to Australia (with photos)

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Judiciary:
 
Chief Justice Andrew Cheung, Chief Justice of the Court of Final Appeal, led a high-level delegation this Monday (March 24) to attend the 2025 Asia-Pacific Judicial Colloquium in Canberra, Australia, and concluded his visit today (March 26).
 
The Colloquium is a biennial event which brings together the chief justices and senior judges of the final appellate courts of Australia, Canada, New Zealand, Singapore and the Hong Kong Special Administrative Region. The Hong Kong delegation included Mr Justice Roberto Ribeiro and Mr Justice Johnson Lam, Permanent Judges of the Court of Final Appeal.
 
During the three-day programme in Canberra, Chief Justice Cheung met with delegations from the participating jurisdictions to strengthen professional exchanges and judicial connections with them, as well as to discuss various legal and judicial issues of common interest. At the Colloquium, Mr Justice Ribeiro gave a presentation entitled “Open Justice, Independent Adjudication and Judicial Use of Generative AI”, while Mr Justice Lam spoke on the topic “Relevance or Irrelevance of Party Autonomy in Insolvency Proceedings”.
 
Taking the opportunity of attending the Colloquium, Chief Justice Cheung visited the Supreme Court of New South Wales in Sydney before the event, and exchanged views on various judicial issues with the Acting Chief Justice. The delegation also met with several current and former Non-Permanent Judges of the Court of Final Appeal, providing them with updates on the latest developments in the rule of law and administration of justice in Hong Kong.

        

LCQ3: Dissemination of information on the Northern Metropolis project

Source: Hong Kong Government special administrative region

Following is a question by the Hon Chan Yuet-ming and a reply by the Secretary for Development, Ms Bernadette Linn, in the Legislative Council today (March 26):
 
Question:
 
Some residents in the North District have reflected that some unidentified persons have recently patrolled on the hills in the vicinity of the North District and put up flags labelled “Hong Kong Northern Metropolis New District Earthworks Project” on the hills, causing doubts and anxiety among local residents. In addition, it is reported that a large number of advertisements relating to the recruitment of Mainland construction workers for the Northern Metropolis project have appeared on Mainland’s social media platforms, which involve illegal practices by “unlawful intermediaries” obtaining intermediary fees by deception from workers applying for the recruitment. In this connection, will the Government inform this Council:
 
(1) whether it has put up flags on the hills in the New Territories for the Northern Metropolis project; if so, of the details; if not, whether it will conduct an investigation into the incident, and of the details of the investigation; 

(2) whether it has recruited workers from the Mainland for the Northern Metropolis development project; if so, of the details; if not, whether it will conduct an investigation into the recruitment situation on Mainland’s social media platforms and the problem of unlawful intermediaries; if it will, of the details of the investigation; and
 
(3) of the projects commenced by government departments in the Northern Metropolis and their addresses; whether it has disseminated information on the planning and development of the Northern Metropolis to the Mainland through official channels; if so, of the details; if not, the reasons for that?
 
Reply:
 
President,
 
The Northern Metropolis (NM) is a major land development project of the Government of the Hong Kong Special Administrative Region (HKSAR), and is the new engine for Hong Kong’s future economic growth. As we are taking forward the works in a number of new development areas (NDAs) in full steam and are expediting the construction of the NM, we would not tolerate any act of individuals to use the name of the NM to mislead the public or even commit illegal activities. Should these situations occur, we will act decisively, disseminate the correct information publicly and take appropriate follow-up actions, including law enforcement with other departments including the Police.
 
My reply to different parts of the question raised by Hon Chan Yuet-ming is as follows:
 
(1) Earlier, flags with words meaning “Site works project of new area in the Hong Kong Northern Metropolis” were erected on a hillside in the area around Muk Wu Nga Yiu Village in Ta Kwu Ling, North District. After inspection by relevant departments, the Development Bureau (DEVB) has clarified publicly that the flags and bamboo poles concerned were not placed by the works departments of the Government or their contractors. These flags and bamboo poles illegally erected on government land have already been removed so as to prevent the outlaws from using such signage to continue to disseminate false information. In fact, when carrying out works projects, government departments would display project signboards at prominent locations providing project details, such as the responsible department, project title, contact phone numbers, commencement and completion dates of the project. We appeal to the public to report any suspicious situation by calling 1823 at once or by notifying the Police and the DEVB. The government departments will carry out investigation immediately and take appropriate actions. At the same time, the offices concerned under the Lands Department, the Planning Department and the Civil Engineering and Development Department (CEDD) will watch out for any such suspicious cases during their routine inspections.
 
(2) To address the manpower shortage of the construction sector in Hong Kong, the Government has launched the Labour Importation Scheme for the Construction Sector (the Scheme). On the premise of safeguarding the employment priority for local workers, it allows qualified employers to apply for importing labour at an appropriate scale. Currently, approved applications include public works projects in the NM, some of which involve labour from the Mainland. The Scheme sets out stringent requirements for the principal contractors, subcontractors and their agents. If the employers are preparing to import labour from the Mainland, they must recruit such labour through Mainland labour service enterprises. Labour service enterprises refer to enterprises approved by the Ministry of Commerce and granted with the permission to operate business on labour service co-operation with the HKSAR. Labour from the Mainland who wish to work in Hong Kong have to pay attention that the recruitment organisation should be among the aforementioned approved labour service enterprises. These labour service enterprises will ensure that the employers conducting the recruitment exercise are the principal contractors or subcontractors who are granted with quotas under the Scheme. The list of such labour service enterprises has been published on the websites of the Ministry of Commerce and the Labour Department of the HKSAR Government. Details of the Scheme are available on the DEVB’s website. Relevant information is also disseminated via different platforms such as the Representative Office of the Construction Industry Council on the Mainland. Meanwhile, the Construction Industry Council will, together with the Labour Department, the Independent Commission Against Corruption and labour unions, arrange monthly briefings for newly imported workers on their employment rights. It is believed that these briefings will also enable the Mainland workers to share the correct information among their circle of friends on the Mainland.
 
(3) NDAs in the NM are under different construction and planning stages. For example, Kwu Tung North/Fanling North, Hung Shui Kiu/Ha Tsuen, Yuen Long South and San Tin Technopole have site formation and engineering infrastructure works being carried out. Other NDAs such as the Lau Fau Shan area, Ngau Tam Mei, New Territories North New Town and Ma Tso Lung are in the process of conducting public engagement activities and other preparatory work according to the development proposals.
 
The tender notices and information on contracts awarded in the past six months for public works in the territory have been uploaded onto the websites of the DEVB and the relevant works departments. Among them, works related to the NM are mainly those site formation and engineering infrastructure works being carried out by the CEDD. As of March 10 this year, ongoing works projects concerned are listed at Annex.
 
The Task Force for Collaboration on the Northern Metropolis Development Strategy jointly established by senior officials of the HKSAR and Shenzhen governments has operated since 2023 for exchanging views on the NM development regularly and strengthening collaboration. We have all along been providing up-to-date information of the NM development to the Mainland authorities through the Task Force and other collaboration platforms extended therefrom. Furthermore, for NDAs currently under the planning stage, we would not only arrange roving exhibitions in Hong Kong during public engagement, but also in Guangzhou and Shenzhen. Also, we will share information about the NM development via the social media platforms on the Mainland of the Hong Kong Economic and Trade Office in Guangdong of the HKSAR Government and the official Weibo account of the DEVB. We will continue to enhance promotional efforts in all aspects in the future.

Interest rate of third interest payment for series of retail green bonds due 2026

Source: Hong Kong Government special administrative region

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

The Hong Kong Monetary Authority, as representative of the Hong Kong Special Administrative Region Government, announced today (March 26) the relevant per annum interest rate for the third interest payment of the series of retail green bonds due 2026 (Issue Number: 03GR2610R; Stock Code: 4273) (the Retail Green Bonds) issued under the Government Sustainable Bond Programme (previously known as the Government Green Bond Programme).

According to the Issue Circular dated September 18, 2023, for the Retail Green Bonds, the third interest payment of the Retail Green Bonds is scheduled to be made on April 10, 2025, and the relevant interest rate is scheduled to be determined and announced on March 26, 2025, as the higher of the prevailing Floating Rate and Fixed Rate. 

On March 26, 2025, the Floating Rate and Fixed Rate are as follows:

Floating Rate: +1.63 per cent (Annex)
Fixed Rate: +4.75 per cent

Based on the Floating Rate and Fixed Rate set out above, the relevant interest rate for the third interest payment is determined and announced as 4.75 per cent per annum.

Hong Kong Customs combats illegal streaming of TV channels and infringing anime videos (with photo)

Source: Hong Kong Government special administrative region

Hong Kong Customs conducted an enforcement operation yesterday (March 25) to combat infringement activities involving illegal communication of TV channels and infringing anime videos to the public by streaming technology. During the operation, Customs seized two TV decoders of pay TV channels, a TV signal receiver set, three sets of computer servers suspected to be used for illegal streaming, a computer used for remote server operation, a mobile phone and an assortment of electronic equipment and audio-visual devices with a total estimated market value of about $40,000. 

Customs earlier received information from a copyright owner alleging that someone had set up a web page to distribute copyright-protected pay-TV channels through streaming technology without the authorisation of the copyright owner. Customs officers then initiated an investigation and identified an individual, registered as a user of local pay TV channels, who utilised advanced digital technologies to bypass the digital rights protection measures enforced by copyright owners and communicate the pay-TV channels to the public. Furthermore, the user employed a specialised TV signal receiver and illegal streaming software hosted on the computer servers for the illegal communication of local free TV channels via webpages. The subject promoted this service as a “digital TV retransmission station” to attract Internet users. Additionally, it was discovered that the subject separately set up another website to offer a substantial collection of suspected infringing animated videos for on-demand streaming.

After a comprehensive investigation and with the assistance of the copyright owner, Customs yesterday raided a residential unit in Tsuen Wan. During a live broadcast of overseas basketball matches, Customs utilised computer forensic programmes to conduct real-time monitoring over related suspected illegal streaming activities and seized the batch of suspected illegal streaming servers and electronic equipment. Officers from the department’s Computer Forensic Laboratory were also summoned to the scene to render support. Through on-site computer evidence collection, over 50 000 digital video files were seized from one of the computer servers, including suspected infringing animated series, movies and variety shows, which were believed to be used for illegal communication.

During the operation, a 26-year-old man was arrested for operating the websites for suspected infringement activities. He was released on bail pending further investigation. The investigation is ongoing.

Customs reminds the public not to engage in unauthorised activities involving the dissemination of copyrighted works. Members of public should also respect intellectual property rights and refrain from watching infringing movie/TV works or pay-TV channels through any form of illegal streaming. Webpages, applications or streaming links related to illegal streaming may contain computer viruses or malicious programmes which can pose potential risks to users.

According to the Copyright Ordinance, it is illegal for anyone, without the authorisation of the copyright owner, to engage in any trade or business that involves communicating works to the public for profit or reward, or in the course of such trade or business, to communicate copyrighted works to the public; or to communicate copyrighted works to the public to an extent that damages the rights of the copyright owner. Upon conviction, the maximum penalty is imprisonment for four years and a fine of $50,000 for each copyrighted work.

Members of the public may report any suspected infringement 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).

  

LCQ20: Health screening work conducted by Department of Health at various boundary control points

Source: Hong Kong Government special administrative region

LCQ20: Health screening work conducted by Department of Health at various boundary control points 

BCP(3) as it is learnt that the Government has installed body temperature screening facilities (including infra-red thermo-imaging machines) at all BCPs, of the relevant expenditure incurred in the past five years, including expenditure on the procurement of equipment, repair and maintenance, and operation;

(4) whether it has assessed the current operational status of the body temperature screening facilities at various BCPs (including whether their technical advantages have been maximised), and whether complementary measures have been adopted to reduce reliance on manual body temperature screening; whether the authorities have formulated plans to further enhance the effectiveness of the body temperature screening facilities at various BCPs; if so, of the details; if not, the reasons for that; and 
(2) From 2020 to 2024, the average daily number of health screening shifts of the DH at various BCPs (some health screening posts involve more than one shift according to the operation of BCPs) are as follows:

      The DH redeploys health screening posts according to actual circumstances. For posts in some BCPs suspended operation would be redeployed to other BCPs.

     Health screening service of Kai Tak Cruise Terminal and Ocean Terminal were not included as they were only provided during stopover of cruises. 
 
(3) The Electrical and Mechanical Services Department is responsible for the procurement and maintenance of the Infrared Thermal Imaging System installed by the DH at various BCPs. The recurrent expenditure incurred in the past five financial years is as follows: 
 

2020-21Issued at HKT 16:35

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CHP investigates suspected food poisoning case related to wild mushrooms

Source: Hong Kong Government special administrative region

​The Centre for Health Protection (CHP) of the Department of Health is today (March 26) investigating a suspected case of food poisoning related to the consumption of wild mushrooms, and urged the public not to pick and eat wild mushrooms.
 
The case involves a 60-year-old female who developed sweating, increased salivation, vomiting and diarrhoea about 15 minutes after consuming self-picked wild mushrooms yesterday (March 25). She sought medical attention at the Accident and Emergency Department of North Lantau Hospital and was admitted for further observation the same day. She is in stable condition.
 
The CHP’s investigation is ongoing.
 
Members of the public should not pick wild mushrooms for consumption as it is difficult to distinguish edible mushroom species from inedible ones. Mushroom poisoning is generally acute. Common presentations include gastrointestinal symptoms such as nausea, vomiting and abdominal pain appearing shortly after ingestion. Depending on the mushroom species, patients may also have other symptoms such as profuse sweating, hallucinations, a coma or other neurological symptoms, as well as liver failure. Death may result in severe cases.
 
If mushroom poisoning is suspected, the patient should seek immediate medical attention and bring along any available remnant for identification.

Speech by FS at Wealth for Good in Hong Kong Summit (English only) (with photo/video)

Source: Hong Kong Government special administrative region

     Following is the speech by the Financial Secretary, Mr Paul Chan, at the Wealth for Good in Hong Kong Summit today (March 26):
 
Chris (Secretary for the Financial Services and the Treasury, Mr Christopher Hui), distinguished guests, ladies and gentlemen,
 
Good afternoon.
 
I am delighted to welcome you to the third Wealth for Good in Hong Kong Summit.
 
Whether you are joining us for the first time or returning, I know you will enjoy your time here in Asia’s world city. And before long, it will feel like your city too.
 
Family offices play a vital role in preserving family wealth and building a lasting legacy for future generations. The focus extends beyond making investments that provide sustainable, long-term financial returns. You are also visionaries, philanthropists and next-generation leaders committed to creating positive social and environmental impacts that benefit humanity.
 
We share these values deeply. That’s why we launched this Summit two years ago, bringing together principals, key decision makers and senior executives of family offices worldwide, to discuss how we could  harness wealth for good together. 
 
This year, we are excited to feature another impressive line-up of distinguished speakers from influential families and institutions, who will share insights on subjects ranging from tech and AI to philanthropy and culture. 
 
Hong Kong, premier location for family offices
 
Allow me to take a couple of minutes to tell you why Hong Kong is an ideal place for family offices to realise their objectives and ambitions. 
 
To begin with, Hong Kong is Asia’s premier financial centre, offering a wide range of investment opportunities that are particularly compelling right now.   
 
Notably, the recent boom in the Hong Kong stock market underscores this potential. The Hang Seng index rose by some 20 per cent since the beginning of this year, building on an 18 per cent increase throughout 2024. This surge reflects investor optimism about the future of technology in China and highlights Hong Kong’s essential role in connecting regional opportunities with global investors, showcasing the significant returns our market can deliver.
 
Beyond securities, Hong Kong boasts a dynamic ecosystem of angel investments, venture capital and private equity. Capital under management by private equity firms exceeded US$230 billion last year, making us the second largest in Asia, only after the Mainland. 
 
Our asset and wealth management industry is thriving, fuelled by the affluent population of the Greater Bay Area and the influx of ultra-high-net-worth individuals into our city. We currently manage about US$4 trillion in assets, with two-thirds originating from outside Hong Kong. By 2028, we are on track to become the world’s largest cross-border wealth management centre.
       
In the latest Global Financial Centres Index published last week, Hong Kong continues to rank third globally. Notably, we secured the top spot worldwide for “investment management”, “insurance” and “finance”, and came third in “banking” and “business environment”.   
 
Above all, global capital feels at ease in Hong Kong. For compelling reasons. President Xi and the Central Authorities have affirmed on multiple occasions that the “one country, two systems” arrangement will remain in place over the long term.  
 
 This means Hong Kong will continue to uphold the common law system with a judiciary exercising powers independently; safeguard the free flow of capital, goods, information and people; maintain a freely convertible currency, and keep a simple and low tax system.
 
And here’s the real gem – we have no capital gains tax, no estate tax, and no tax on dividends. In other words, you can freely invest without the usual financial hang-ups.
 
Then, protection of capital and private property are enshrined in our Basic Law, along with our steadfast commitment to international obligations under the United Nations, in opposition to accepting decisions unilaterally imposed by other countries.
 
With all these, not surprisingly, more than 2,700 family offices have already chosen Hong Kong as their home, with half of them managing assets of more than US$50 million.
 
Here, family offices can leverage a robust network of world-class service professionals, including private bankers, legal experts, accountants and investment advisers to support your endeavours. Our professionals offer a distinctive combination of global perspective and local expertise in everything they do.
 
This year, in addition to our existing tax concessions for single family offices, we will expand exemptions for funds, enhance concessions for family offices, and boost incentives for private equity.
 
That, ladies and gentlemen, is an invitation for all of you to join us in shaping a future where wealth creates value for everyone.

Making a real impact
 
Family offices aspire to achieve more than just financial returns. Through my encounters with many family principals and executives, I’ve witnessed your profound desire to create a lasting impact and a brighter future for generations to come.
 
In this city, international foundations, charitable organisations and NGOs (non-governmental organisations) come together to form a vibrant philanthropy network that not only connects funding and meaningful projects, but also amplifies your efforts and fosters collaboration. 
 
More than that, Hong Kong’s value proposition has an additional dimension: innovation and technology.
 
We are investing heavily in our city’s economic future to propel Hong Kong’s development in innovation and technology. Two years ago, we outlined our vision for Hong Kong to become an international green tech and green finance centre.
 
That endeavour is progressing well. Alongside our leadership position in green finance, Hong Kong’s green tech community is thriving. In our Science Park and Cyberport, there are some 300 green start-ups specialising in energy-efficient materials, carbon capture, EV infrastructure, and much more – all keen on addressing the world’s most pressing challenges with their groundbreaking technologies. Many of these start-ups have made successful strides into global markets, creating a significant and positive impact worldwide.
 
In a world where AI is transforming production, business and consumption models and redefining the economic competitiveness, we have a clear vision to establish AI as a core industry. By applying and integrating AI across the community, we can unlock substantial benefits for humanity.
 
We possess strong foundational research capabilities and attract some of the brightest talent from around the world. Uniquely positioned as a convergence point for data from both the Mainland and international sources, we leverage our close collaboration with sister cities in the Greater Bay Area to amplify our strengths.
 
And we have developed a comprehensive strategy to drive the growth of the innovation and technology sector. The Hong Kong Investment Corporation, or HKIC, established with a capital of US$8 billion, plays a vital role in this strategy. This “patient capital” supports tech firms in their nascent stages, covering hard tech, biotech, and new energy. So far, it has invested and co-invested in over 90 of such projects, attracting $4 of long-term capital for every $1 invested. The HKIC looks forward to collaborate with family offices, creating dynamic partnerships that fuel our innovation ecosystem.
 
Art, sports and lifestyle
 
Ladies and gentlemen, beyond business and finance, Hong Kong is blessed with a thriving art and culture scene. Consider Art Basel, which has become a hallmark event of this city. Opening this Friday, it will present more than 240 galleries from over 40 countries and regions, showcasing a dazzling array of contemporary art.
 
Indeed, in 2023, we traded more than US$13 billion in art and antiques, all tax-free. Our airport will soon feature a bespoke art storage facility to support this vibrant market.  
 
Let’s not forget the world-class M+ and Hong Kong Palace Museum, both located in our West Kowloon Cultural District.
 
If sport is your passion, you’ll want to be here right through the weekend. The Hong Kong Sevens kicks off this Friday at the spectacular Kai Tak Sports Park, which boasts seating for 50,000 rugby-mad fans. Bigger house. Bigger party. So why not grab your friends and prepare for a weekend of wild tries and even wilder times!
 
Looking ahead together
 
     Ladies and gentlemen, whatever your passion, Hong Kong is where you want to be.
 
Hong Kong is of the world: a meeting point for East and West, tradition and innovation. And it is for the world: a city where your ambitions can take flight and flourish, touching lives far beyond our shores.
 
My thanks to our Summit organisers, the Financial Services and the Treasury Bureau and Invest Hong Kong, for making this event possible.
 
And I wish you all good health and the best of family business in the year ahead.
 
Thank you.