Government welcomes passage of Employment (Amendment) Bill 2025

Source: Hong Kong Government special administrative region

Government welcomes passage of Employment (Amendment) Bill 2025 
     The Bill revises the working hours threshold of the “continuous contract” requirement, which includes lowering the weekly working hours threshold from 18 hours to 17 hours; and providing an alternative of using the aggregate working hours in a specified four-week period as a counting unit in which a week with less than 17 working hours will still be regarded as a continuous employment period if the sum of the working hours of that week and those of the three weeks immediately preceding it reaches 68 hours.
 
     A Government spokesman said, “Since the implementation of the EO, the working hours threshold of the ‘continuous contract’ requirement has been maintained at 18 hours per week. This amendment exercise lowers the working hours threshold of the ‘continuous contract’ requirement and introduces flexibility in the calculation of working hours, reducing the circumstances of disrupting the continuity of an employee’s employment because the working hours of a week occasionally fall below the threshold.
 
     “After the amendments, other provisions of the EO will continue to operate as they currently do, and existing eligibility criteria for employees to enjoy various statutory benefits will remain unchanged. Employees who have met the current ‘continuous contract’ requirement will not be affected,” the spokesman added.
 
     The Employment (Amendment) Ordinance 2025 will be gazetted on June 27, 2025. The revised “continuous contract” requirement will be effective from January 18, 2026, onwards. In the meantime, the Government will publicise and brief the public on the Amendment Ordinance through various channels, presenting it in layman’s terms to enhance employers’ and employees’ understanding.
Issued at HKT 15:48

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LCQ1: Enhancing Leisure and Cultural Services Department’s SmartPLAY system

Source: Hong Kong Government special administrative region – 4

​Following is a question by the Hon Carmen Kan and a reply by the Acting Secretary for Culture, Sports and Tourism, Mr Raistlin Lau, in the Legislative Council today (June 18):
 
Question:

The Leisure and Cultural Services Department (LCSD)’s intelligent sports and recreation services booking and information system, SmartPLAY, which was developed at a cost of $500 million, was launched in 2023. In this connection, will the Government inform this Council:

(1) of the number of complaints it has received and investigated since the launch of SmartPLAY in relation to hirers profiting from touting their booked sessions for use of recreation and sports facilities (touting activities); among these cases, of the respective numbers of those being punished according to the LCSD’s penalties, prosecuted according to the law, and convicted; whether it has examined the effectiveness of SmartPLAY in combating touting activities, including whether its anti-bot solution can effectively block plug-in programmes from snatching up booking sessions;

(2) as some members of the public have reflected that the e-payment method for the LCSD venues allows non-hirers to pay venue hire charges, making it possible for touting agents to book the venues on others’ behalf, whether there are any countermeasures in place; if so, of the details; if not, the reasons for that; apart from the fact that minors may have their parents book recreation and sports facilities on their behalf, whether there are any other exceptional circumstances where third-party bookings are permitted; and

(3) as there are views that the current approach to allocation of venues (e.g. grass soccer pitches) by ballot is more effective than the first-come, first-served approach in combating touting activities, whether the authorities will consider allocating all recreational and sports facilities by ballot; if so, of the details; if not, the reasons for that?

Reply:

President,

The Leisure and Cultural Services Department (LCSD) launched a brand new intelligent sports and recreation services booking information system named SmartPLAY in November 2023 to replace the old Leisure Link Computer Booking System. The SmartPLAY system is an integrated one-stop electronic service platform designed to facilitate the public in searching for and booking the sports and recreation facilities of the LCSD, as well as enrolling in various kinds of sports and recreation activities or competitions through the internet or mobile application. At present, the SmartPLAY system has 1.07 million registered users with 28 000 daily booking transactions on average.

My reply to the the Hon Carmen Kan’s question is set out below:

(1) The LCSD has always paid close attention to unauthorised transfer or touting activities in relation to sports and recreation facilities, and adopted a multi-pronged approach to combat touting activities, including enhancing the booking system on an ongoing basis, imposing penalty arrangements, and stepping up inspections. At present, the SmartPLAY system includes the following functions to combat touting activities:

(i) adopting real-name registration;
(ii) allocating popular sports and recreation facilities by ballot in addition to the first-come, first-served allocation mechanism;
(iii) requiring hirers to declare and undertake that they will be present during the use of relevant facilities and that the user permit will not be transferred by any means when booking and signing for facilities via the SmartPLAY system. Offenders may have committed an offence of fraud under the Theft Ordinance (Cap. 210) and be liable to imprisonment of up to 14 years upon conviction; and
(iv) imposing restrictions to prohibit the booking of overlapping sessions of fee-charging or non-fee charging sports and recreation facilities.

In addition to enhancing the SmartPLAY system, the LCSD closely monitors information on touting and inspects venues from time to time, including conducting surprise inspections and requiring hirers to present identification documents to facilitate investigation and follow-up immediately as necessary. If a hirer is not present during the booked session, it will be counted as a breach. A hirer who has accumulated two breaches within 60 days will result in a 90-day ban on booking fee-charging sports and recreation facilities under the LCSD. Since the commissioning of the SmartPLAY system until May 2025, the LCSD has conducted over 890 000 random inspections, with more than 13 000 hirers being penalised for breaches, i.e. being suspended from booking the LCSD fee-charging sports and recreation facilities for 90 days. From November 2023 to May this year, the LCSD received a total of 435 complaints relating to touting activities. Upon investigation, the LCSD imposed penalties for 50 cases of breaches. The LCSD will continue to monitor the situation and consider imposing heavier penalties on repeated offenders.

Furthermore, the LCSD launched a joint operation with law enforcement agencies in July 2024 at tennis courts in Wan Chai District to combat touting and other illegal activities. Several individuals were arrested successfully. Some of the individuals had been prosecuted and convicted, and were sentenced to imprisonment of four months and six months respectively. Other cases are still under trial or being processed.

To effectively combat the abuse of computer programmes for booking sports and recreation facilities, a new generation of Web Application Firewall and anti-bot technology have been introduced in the SmartPLAY system to closely monitor users’ log-in activities. SmartPLAY also employs artificial intelligence (AI) to oversee users’ behaviour and network usage for auto-defence, ensuring smooth operation of the system. When AI detects any abnormal operation (such as unusual log-in), the system will automatically intercept suspicious access. Moreover, the LCSD, in collaboration with the contractor, has been closely monitoring the operation of the system and adjusting its settings from time to time.  More than five million log-in attempts by suspected bots were intercepted by the system during peak periods in early 2025. The LCSD and the contractor will continue to follow up and actively explore more solutions to prevent bot booking of sports and recreation facilities, thereby enhancing the booking experience of normal users.

(2) SmartPLAY is a one-stop electronic service platform that requires real-name registration. It enables the public to enquire about the sports and recreation facilities of the LCSD and make bookings anytime via the internet or mobile application with e-payment options. Owing to various circumstances (such as a lack of electronic payment tools or insufficient balances therein), individual users may not be able to use e-payment when booking facilities and require the assistance of others who are not hirers to make the payment and complete the process. Besides, parents of minors (aged under 18) may need to help manage their children’s accounts for booking and payment. Therefore, the SmartPLAY system does not require the hirer and the payer to be the same person. That said, real-name registration of the hirer is required and the hirer must personally check in and be present to use the facilities.

(3) Currently, the LCSD allocates its sports and recreation facilities using two methods, namely on a first-come, first-served basis and balloting. To facilitate members of the public in planning their exercise schedule, the SmartPLAY system allows users to make seven-day advance bookings or on-the-spot hires of most of the sports and recreation facilities on a first-come, first-served basis. As for balloting, although it is a fair mechanism, it requires users to make advance planning by submitting balloting applications within 14 to 20 days before the usage date. Applicants must also pay attention to the balloting results and payment deadlines. Since both allocation methods have their own merits and drawbacks, the LCSD has conducted a questionnaire survey to collect public views on the mechanisms for booking and allocating various sports and recreation facilities under its purview.

After considering the feedback from different users as well as reviewing the actual usage carefully, the LCSD currently only allocates sessions of popular turf soccer pitches by balloting, while other sports and recreation facilities continue to be allocated on a first-come, first-served basis. The LCSD will continue to pay close attention to the usage of its various facilities and review relevant booking arrangements with a view to encouraging the general public to engage in regular exercise.

Thank you, President.

Hong Kong Customs to publicise Dealers in Precious Metals and Stones Regulatory Regime at jewellery exhibition (with photo)

Source: Hong Kong Government special administrative region – 4

Hong Kong Customs will set up a booth at the Jewellery & Gem ASIA Hong Kong (JGA), to be held at the Hong Kong Convention and Exhibition Centre (HKCEC), from tomorrow (June 19) for four consecutive days to publicise the Dealers in Precious Metals and Stones Regulatory Regime (Regime), and will provide on-site counter services to assist non-Hong Kong dealers in submitting cash transaction reports during their participation in the exhibition.

     According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Regime came into effect on April 1, 2023. Any person who is seeking to carry on a business of dealing in precious metals and stones, and engage in any transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 in Hong Kong is required to register with Hong Kong Customs and fulfil his/her anti-money laundering and counter-terrorist financing statutory obligations as appropriate. All dealers in precious metals and stones must successfully obtain a relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above HK$120,000.

     For non-Hong Kong dealers fulfilling the prescribed conditions (including those who come to Hong Kong to participate in exhibitions), although they are exempt from registration, they are required to submit to Hong Kong Customs a cash transaction report for any cash transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 carried out in Hong Kong within one day after the transaction, or before the dealer or the person acting on behalf of the dealer leaves Hong Kong, whichever is earlier.

     Non-Hong Kong dealers can make an online submission of a cash transaction report via the Regime’s webpage at www.drs.customs.gov.hk by accessing the Dealers in Precious Metals and Stones Registration System. They can also download the related form at www.drs.customs.gov.hk/download/drsform/CED418_Form%208_Cash%20transaction%20report.pdf and then submit the report in person at Hong Kong Customs’ booth at the JGA. 

     The Hong Kong Customs’ booth (Booth 1B330) is located at HKCEC Hall 1B and will be open from 10am to 6pm between June 19 and 21 and from 10am to 5pm on June 22.

     Dealers can visit the website (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html) for more information about the Regime.

  

LCQ10: Crackdown on illegal workers

Source: Hong Kong Government special administrative region – 4

Following is a question by the Hon Edmund Wong and a written reply by the Secretary for Security, Mr Tang Ping-keung, in the Legislative Council today (June 18):
 
Question:
 
It has been reported that various law enforcement agencies have recently discovered illegal workers using online car hailing or delivery platforms to work as drivers or food delivery workers, and have taken enforcement actions against them. In this connection, will the Government inform this Council:
 
(1) of the numbers of illegal workers and employers of illegal workers who were prosecuted in the past three years, together with a quarterly breakdown of such figures;
 
(2) as it is learnt that engaging in work through digital platforms does not involve employment procedures such as job interviews, whether the authorities have assessed if the activities on such platforms are more susceptible to involving illegal workers; whether it has found any criminal syndicate specialising in acquiring the personal data of some Hong Kong residents for the purpose of registering work accounts on such platforms and subsequently making profits by employing illegal workers to provide services with these accounts; if so, of the details;
 
(3) whether the authorities have contacted such digital platforms to ascertain if there are loopholes in their operations from which criminal syndicates and illegal workers may benefit; if so, of the details; and
 
(4) whether it has studied enacting legislation to step up the crackdown on illegal workers using such digital platforms to work for reward?

Reply:
 
President,
 
The Government is committed to combatting illegal employment, with a view to protecting job opportunities for the local workforce. It is a serious offence to engage in illegal employment. Employers, illegal workers as well as aiders and abettors of illegal employment will be liable to prosecution in accordance with the Immigration Ordinance (IO). The IO has different provisions targeting relevant offences committed by different groups of persons. Visitors, illegal immigrants and non-refoulement claimants, etc, are prohibited from taking any employment, whether paid or unpaid, or establishing or joining in any business. Aiders and abettors as well as illegal workers are liable to the same penalties. In addition, the Government amended the IO in 2021 by increasing the penalty of employers of illegal workers, with the maximum penalty significantly increased from a fine of $350,000 and three years’ imprisonment to a fine of $500,000 and 10 years’ imprisonment with a view to reflecting the gravity of such offences. The directors, managers, secretaries, partners, etc, of the company concerned may also bear criminal liability. The High Court has laid down sentencing guidelines that employers of illegal workers should be given an immediate custodial sentence.
 
Regarding the question raised by the Hon Edmund Wong, having consulted the Labour and Welfare Bureau/Labour Department (LD), the Hong Kong Police Force (the Police) and the Immigration Department (ImmD), our reply is as follows:
 
(1) According to ImmD’s record, the number of illegal workers prosecuted and the number of employers of illegal workers prosecuted over the past three years are tabulated below:
 

Year / quarter Number of illegal workers prosecuted Number of employers of illegal workers prosecuted
2022 1st quarter 50 23
2nd quarter 148 41
3rd quarter 175 39
4th quarter 166 35
Total in 2022 539 138
2023 1st quarter 167 26
2nd quarter 221 29
3rd quarter 269 34
4th quarter 286 20
Total in 2023 943 109
2024 1st quarter 220 50
2nd quarter 268 33
3rd quarter 300 33
4th quarter 225 53
Total in 2024 1 013 169
2025 1st quarter 262 39

(2) Illegal employment is not limited to individual industries. The Government has all along combatted illegal employment and enforced the law vigorously. With an increased demand for the services provided by online platforms (including online food delivery and online car hailing) in recent years, the relevant law enforcement agencies have taken respective actions in combatting illegal employment and will conduct joint operations when necessary. Regarding the online food delivery platforms, the ImmD and the Police arrested 180 persons in relevant enforcement operations from 2024 to May 2025, 98 were non-ethnic Chinese persons suspected of working illegally as food delivery couriers, 54 were local residents suspected of selling or renting their food delivery courier accounts to the illegal workers, four were suspected of employing illegal workers and the remaining were arrested because of engaging in other illegal works or using false instruments, etc. Regarding online car hailing, four persons who were suspected of breach of condition of stay were arrested by the Police during the same period. 
 
In the above operations, the ImmD and the Police did not identify any syndicate specialising in acquiring the personal data of Hong Kong residents for the purpose of registering work accounts on such platforms to make profits through employing illegal workers to provide services with those accounts. The law enforcement agencies will continue to closely monitor the situation and will not take this lightly. 
 
(3) Regarding online food delivery platforms, the ImmD and the Police maintain communications with platform companies from time to time, and have already requested them to strengthen the security measures on account registration and logging in, including adding authentication steps, requesting authentication of true identity, etc, in order to prevent the account holders from renting their accounts to others for food delivery. The LD has also established a Liaison Group comprising representatives of platform companies, labour organisations and the Government to explore suitable proposals to enhance the protection for platform workers, including stepping up on prevention of illegal workers in food delivery services. Regarding online car hailing, the Government has all along emphasised through various channels that any business shall be operated in accordance with the law.
 
(4) As aforementioned, the IO was amended in 2021 by increasing the penalty of employers of illegal workers, with the maximum penalty significantly increased from a fine of $350,000 and three years’ imprisonment to a fine of $500,000 and 10 years’ imprisonment. Regardless of whether online working platform or other working mode is involved, employers share the same legal responsibility to ensure employees are lawfully employable persons. The Government will continue to actively combat illegal employment on various fronts, including stepping up inspections and “cyber patrols”, taking rigourous law enforcement, and will also strengthen publicity and education, in order to raise the public’s law-abiding awareness.
 
Stepping up inspections and rigourous law enforcement
 
To deter employers from employing illegal workers, labour inspectors of the LD will, through regular workplace inspections, check employees’ proof of identity and employees records kept by employers under the power conferred by the Part IVB of the IO. Suspected illegal employment cases detected will be referred to relevant law enforcement agencies for follow-up.
 
The Cybercrime and Forensics Investigation Group (The Group) of the ImmD is dedicated to assisting frontline investigators in collecting digital evidence so as to strengthen the ability in case investigation and evidence collection, with a view to coping with criminals who may use well-developed technologies to commit immigration-related offences and some potential complicated crimes in the future. The Group has been proactively combatting cybercrimes related to illegal employment by conducting constant “cyber patrols”. It will take resolute enforcement actions against any person who is found using social media or instant messaging software to organise, arrange or incite the public to commit serious crimes, such as illegal employment etc.
 
The ImmD and the Police will continue to combat illegal employment related crimes rigourously, and will, depending on operational needs, risk assessment and other considerations, flexibly arrange sufficient manpower to conduct intelligence-led enforcement operations against illegal employment related crimes.
 
Publicity and education to raise law-abiding awareness
 
In order to raise the public’s law-abiding awareness and let the employers understand the serious consequences of employing illegal workers, the ImmD has deployed officers and promotional vehicles to black spots of illegal employment from time to time to distribute “Don’t Employ Illegal Workers” leaflets to employers and remind them to inspect the original Hong Kong Identity Cards of job seekers to ascertain whether they are lawfully employable. At the same time, the ImmD has also actively published information on the effectiveness of the latest operations against illegal employment and disseminated the message of “Employing Illegal Workers is an Offence” through its official accounts on different social media platforms. In addition, the ImmD has provided information of identifying lawfully employable persons to the public through various channels including ImmD’s website, leaflets and seminars, etc.

LCQ16: Opening of bank accounts by non-commercial organisations

Source: Hong Kong Government special administrative region

     Following is a question by Dr the Hon Chan Han-pan and a written reply by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (June 18):
 
Question:
 
     I have received a number of requests for assistance involving the opening of bank accounts by non-commercial organisations and, among them, some “three-nil buildings” are still unable to open bank accounts six to eight months after the formation of owners’ corporations (OCs), rendering the OCs unable to raise funds for their operation. On the contrary, it takes only one to two months on average for commercial organisations to open accounts. There are views that the difficulties encountered by OCs in opening accounts have seriously affected the livelihood of the grass roots and run counter to the Government’s objective of improving the community. In this connection, will the Government inform this Council:
 
(1) whether it knows the total number of complaints received by the Hong Kong Monetary Authority (HKMA) in the past three years about non-commercial organisations encountering difficulties (e.g. excessively long processing time) in opening bank accounts;
 
(2) whether it knows if HKMA has put in place measures to streamline the requirements for banks in vetting and approving applications from non-commercial organisations for opening accounts (in particular social service accounts such as those for OCs), so as to shorten the processing time;
 
(3) whether it will amend the Banking Ordinance (Cap. 155) or the licensing guidelines to expressly require banks to provide social service organisations with convenient procedures for opening accounts; and
 
(4) whether it knows if HKMA will set indicators to increase banks’ incentive to process applications from organisations such as OCs for opening accounts, or impose penalties on banks against which complaints have been repeatedly lodged?
 
Reply:
 
President,
 
     To safeguard the stability of the banking system and customer interests, banks are required to comply with the relevant laws and regulatory requirements when establishing business relationship with customers. Banks are required to conduct customer due diligence (CDD) on applicants seeking to open a bank account irrespective of whether they are commercial entities or non-commercial entities (including Owners’ Corporations (OCs)).
 
     The Hong Kong Monetary Authority (HKMA) has been closely monitoring the situation regarding bank account opening of non-commercial entities in Hong Kong. In this connection, the HKMA reminds the banking sector from time to time that while implementing robust control measures, they should also avoid creating unreasonable barriers for legitimate businesses and entities (including OCs and other non-commercial entities) to access banking services. Banks should maintain proper communication with customers throughout the CDD process, properly handle customers’ account opening applications through transparent, reasonable and efficient procedures, uphold the principle of treating customers fairly, and where appropriate flexibly and pragmatically handle account opening applications.
 
     After consulting the HKMA, our reply to the four parts of the question is as follows:
 
     The HKMA issued a circular to banks in April 2023 to provide further guidance on the CDD requirements with respect to account opening for commercial entities or non-commercial entities. The circular also sets out guidance on communication with customers, understanding of market developments and risk management, as well as shares past cases and good practices for the industry’s reference, so as to assist banks in achieving effective outcomes and enhancing customer experience in account opening. The HKMA has also required banks to review their account opening procedures and CDD measures, and provide staff training.
 
     In response to the HKMA’s guidance, banks have introduced various facilitation measures in recent years to improve the account opening process for customers, covering OCs and other non-commercial entities. These measures include providing applicants with updates on the progress of their account opening applications, establishing review mechanisms and re-examining account opening applications upon customers’ request. The HKMA has also set up a dedicated email and hotline to collect enquiries from the public and relevant stakeholders, which are handled and followed up by a dedicated team within the HKMA for account opening and maintenance (the dedicated team).
 
     Regarding the account opening application process for OCs, as an OC is an independent body corporate set up under the Building Management Ordinance (Cap. 344), banks would adopt CDD measures applicable to a legal person. These include requiring applicants to provide relevant registration documents of the corporation, minutes or extracts of resolutions of the management committee meeting or general meeting of the OC regarding the approval for opening a bank account and appointment of authorised signatories, as well as the identification documents of the appointed authorised signatories. Banks may also request additional information or documents from the applicants having regard to the specific circumstances and their risk assessments. The turnaround time for account opening depends on the circumstances of individual cases, as well as whether the applicant has furnished the required information. As the HKMA understood from major banks, the account opening process could generally be completed in around two weeks upon receipt of the required information and documents from applicants.
 
     The HKMA has been maintaining close communication with the Home Affairs Department (HAD) and offering support to the OCs seeking assistance on bank account opening under the established communication and referral mechanism. In May 2025, the HKMA and the HAD held a meeting with representatives from the banking sector for a direct exchange on matters relating to bank account opening for OCs, including a discussion on the bank account opening situations following the establishment of OCs. The participating banks responded positively and have actively introduced facilitation measures to assist OCs, including publishing information in relation to bank account opening for OCs on banks’ websites; providing hotlines and contact information for OCs to enquire about account opening related information with individual banks; assigning designated staff to handle enquiries and applications in relation to bank account opening for OCs; as well as offering multiple channels and appointment arrangements to facilitate account opening for OCs. To further enhance transparency and shorten the account opening turnaround time, the HKMA, the HAD and the banking sector are jointly compiling practical information related to bank account opening, so as to assist OCs to better understand the account opening requirements and make advance preparation for the necessary documentations, with a view to enhancing customer experience.
 
     The numbers of complaints and requests for assistance received by the HKMA and the aforementioned dedicated team over the past three years regarding banks’ handling of account opening applications by non-commercial entities are tabulated as follows:
 

  2022 2023 2024 2025
(as of end-May)
Complaint received by the HKMA None 1 case
(Note 1)
None 1 case
(Note 2)
Request for assistance received by the dedicated team 2 cases
(Note 3)
2 cases
(Note 4)
None None

Note 1: The bank concerned properly handled the complaint, and the complainant did not seek further assistance from the HKMA after communicating with the bank.
Note 2: The bank is following up on the case as requested by the HKMA.
Note 3: Two cases concerning OCs have been resolved.
Note 4: These involved one case concerning an OC and one case concerning other non-commercial entity, both of which have been resolved.
 
     Apart from the above cases, the HKMA also received cases referred by the HAD and district organisations from time to time, mainly concerning the bank account opening procedures and requirements for newly formed OCs. In this connection, the HKMA has provided appropriate assistance to these newly formed OCs, and these OCs have subsequently started to proceed with their bank account opening applications. The HKMA noted that for some of these cases, bank accounts were successfully opened within about two weeks on average after the OCs provided the required information to banks. In certain cases, bank accounts were opened within one week.
 
     The HKMA and the banking sector have implemented a series of measures to facilitate bank account opening for various businesses and entities, while ensuring compliance with relevant laws and regulatory requirements. We consider that there is currently no need to introduce legislative amendments or set fixed targets regarding account opening matters. The HKMA will continue to maintain close communication and collaboration with the banking sector and relevant stakeholders on bank account opening matters, with a view to streamlining the related account opening processes and enhancing customer experience.

FS attends Lujiazui Forum

Source: Hong Kong Information Services

Financial Secretary Paul Chan attended the 2025 Lujiazui Forum in Shanghai today and witnessed the signing of the Action Plan for Collaborative Development of Shanghai & Hong Kong International Financial Centres.

 

Mr Chan, as one of the key guests, took part in the forum’s opening ceremony and morning plenary session. 

 

Themed “Financial Opening-Up & Cooperation for High-Quality Development in a Changing Global Economy”, the forum was jointly organised by the Shanghai Municipal Government, the People’s Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission.

 

Government officials, financial regulators, industry leaders, renowned think tanks and scholars from multiple countries participated in the forum to discuss topics such as global monetary policy, capital market development, financial technology and innovation, and inclusive finance.

 

Before the opening ceremony, Mr Chan and Shanghai Municipal People’s Government Executive Vice Mayor Wu Wei jointly witnessed the signing of the action plan.

 

It was signed by Secretary for Financial Services & the Treasury Christopher Hui and Shanghai Office for Advancing International Financial Center Development Director-General Zhou Xiaoquan, who is also Shanghai Municipal Financial Regulatory Bureau Director.

 

The action plan covers six areas with a total of 38 measures, including deepening the interconnectivity between Mainland and Hong Kong financial markets, enhancing the linkage and co-operation of the two places’ capital markets, supporting eligible Shanghai enterprises to list and raise funds in Hong Kong, and strengthening collaboration in areas such as commodity trading, reinsurance, green finance and fintech.

 

The plan aims to further leverage the financial opening up, development and risk management advantages of the two cities, enhance cross-boundary and offshore financial co-operation, and promote the co-ordinated development of the two international financial centres.

 

In his speech at the ceremony, Mr Chan explained that the action plan further specifies the directions of co-operation between Hong Kong and Shanghai, thereby injecting new and richer content into multi-level and multi-field financial collaboration.

 

Furthermore, he noted that it includes new measures to deepen financial interconnectivity, highlights support for Mainland enterprises to go global, and promotes standard alignment and financial innovation.

 

Mr Chan added that with strong support from the country, Hong Kong and Shanghai will join forces to create greater synergy and collaborative benefits, thus making greater contributions to the country’s development as a financial powerhouse.

 

Upon arriving in Shanghai yesterday, the Financial Secretary attended an international exchange dinner hosted by the China Finance 40 Forum where he shared how Hong Kong is striving to promote high-quality financial development amid global political and economic changes.

 

Mr Chan departed for Hong Kong around noon today.

Govt welcomes job bill’s passage

Source: Hong Kong Information Services

The Government has welcomed the Legislative Council’s passage today of the Employment (Amendment) Bill 2025, which revises the continuous contract requirement under the Employment Ordinance, making it easier for employees to enjoy comprehensive employment rights.

Under the revised requirement, the weekly working hours threshold will be lowered from 18 hours to 17 hours. Moreover, a week involving less than 17 working hours will still be regarded as a continuous employment period if the sum of the working hours of that week and those of the three weeks immediately preceding it reaches 68.

The Government outlined that the amendment introduces flexibility in the calculation of working hours, reducing the likelihood of the continuity of workers’ employment being disrupted due to working hours occasionally fall below the threshold.

Other provisions of the ordinance will continue to operate as they have been, and existing eligibility criteria for employees to enjoy various statutory benefits will remain unchanged.

The Employment (Amendment) Ordinance 2025 will be published in the Government Gazette next Friday. The revised continuous contract requirement will be effective from January 18, 2026.

Youth scheme invites applications

Source: Hong Kong Information Services

The 2025-26 HYAB Funding Scheme for Youth Exchange in the Mainland is open for the second round of applications until July 10, the Home & Youth Affairs Bureau announced today.

Eligible non-governmental organisations (NGOs) are invited to submit applications.

Through the funding scheme, the bureau and the Youth Development Commission provide funding for NGOs to organise exchange projects on the Mainland for Hong Kong young people to learn and understand the country’s development, foster exchanges with Mainland people and strengthen their sense of national identity.