Inland Revenue (Amendment) (Preferential Tax Regimes for Funds, Family-owned Investment Holding Vehicles and Carried Interest) Bill 2026 gazetted

Source: Hong Kong Government special administrative region – 4

The Government published in the Gazette today (June 12) the Inland Revenue (Amendment) (Preferential Tax Regimes for Funds, Family-owned Investment Holding Vehicles and Carried Interest) Bill 2026 to enhance the preferential tax regimes for privately offered funds, family-owned investment holding vehicles (FIHVs) managed by eligible single family offices and carried interest, with a view to attracting more funds and family offices to establish a presence in Hong Kong.

The Bill covers amendments to the Inland Revenue Ordinance in areas such as: (i) expanding the definition of “fund”; (ii) expanding the scope of qualifying investments; (iii) removing the 5 per cent threshold requirement for incidental transactions; (iv) relaxing the tax exemption treatment for special purpose entities (SPEs) and family-owned SPEs; and (v) introducing a series of enhancement measures to the tax regime for carried interest. The Bill will also introduce, under the unified tax regime for funds, a tax reporting mechanism as well as economic substance requirements similar to those under the tax concession regime for FIHVs.

     “Hong Kong is now the world’s largest cross-boundary wealth management centre. The National 15th Five-Year Plan clearly supports Hong Kong in continuing to strengthen its functions as an international asset and wealth management (WAM) centre. In this connection, the Government has long been committed to reinforcing our leading position in this area through providing a competitive tax environment. The relevant amendments under the Bill will attract more funds and family offices to set up and operate in Hong Kong, and in turn create new opportunities for Hong Kong’s WAM industry. In particular, this would help further attract private credit investment activities in the region, while complementing Hong Kong’s development in areas such as digital assets and trading of precious metals and commodities,” a spokesperson for the Financial Services and the Treasury Bureau said.

The Bill will be introduced into the Legislative Council for first reading on June 24.

Marine Department to launch two new incentive schemes in relation to green maritime fuel-related vessels to promote green transformation of shipping industry

Source: Hong Kong Government special administrative region

Marine Department to launch two new incentive schemes in relation to green maritime fuel-related vessels to promote green transformation of shipping industry 
     The International Maritime Organization has set a target of achieving net-zero carbon emissions in international shipping by around 2050. To leverage the trend of decarbonisation in the international shipping industry, the Government has committed in the Action Plan on Green Maritime Fuel Bunkering promulgated in November 2024 the provision of various financial incentives to help lower the cost of transitioning to green maritime fuels by the maritime industry and expedite the development of Hong Kong as a green port. In this year’s Budget, the Government has allocated approximately $34 million to implement relevant initiatives, including providing port dues concessions for vessels powered by green maritime fuels as well as those carrying green maritime fuels, and offering incentives for green fuel-powered vessels registered in Hong Kong.
 
     The Port Dues Incentive Scheme for Green Maritime Fuel-related Vessels provides concessions for green maritime fuel-related vessels, including ocean-going vessels (OGVs) powered by or bunkering specified green maritime fuels in Hong Kong, and OGVs carrying green maritime fuels for supply in Hong Kong. Specified green maritime fuels covered under the Scheme refer to liquefied natural gas (LNG), methanol, ammonia, hydrogen, and bio-diesel (blended with at least 20 per cent bio-fuel). Eligible OGVs conducting specified operation(s) throughout their stay in Hong Kong may apply for a reimbursement of their port dues (including port facilities and light dues, anchorage dues, buoy dues and fees for port clearance permits) paid in accordance with the Shipping and Port Control Regulations (Cap. 313A). The amount of the incentive is equivalent to 25 per cent or 50 per cent of the port dues paid.
 
     Eligible shipowners or their agents must submit the application form together with the required supporting documents to the MD within three months of their vessels’ completion of the above operation(s) in and departure from Hong Kong. The approved incentive amount will generally be disbursed within 30 working days. The amounts of incentives applicable to different types of OGVs are set out in the Annex.
 
     A spokesman for the MD said, “Following the launch of the Green Maritime Fuel Bunkering Incentive Scheme last year, the new initiative further provides incentives to encourage the industry to adopt green maritime fuels, which are often more expensive than traditional fuels, and to build up demand for green maritime fuel bunkering services in Hong Kong early. This will in turn attract other players in the green maritime fuel bunkering supply chain, such as bunker suppliers, bunker operators and traders, to establish and expand their operations in Hong Kong. We expect this scheme to attract more than 1 000 visits to Hong Kong by green maritime fuel-related vessels.”
 
     Meanwhile, the Green Vessels Registration Incentive Scheme provides incentives to green fuel-powered vessels currently or newly registered in the Hong Kong Shipping Registry (HKSR), thereby attracting and retaining the registration of green vessels in Hong Kong.
 
     Under the scheme, all Hong Kong-registered ships that use green maritime fuels as their primary propulsion fuel, which include LNG, methanol, ammonia and hydrogen but exclude conventional fuels and biofuels, will be eligible to apply. During the three-year period of the scheme, each eligible vessel will be provided with a subsidy of HK$60,000 once every year, and may enjoy one or at most three years’ incentives depending on the timing and duration that the vessel is registered with the HKSR. Each vessel is eligible to receive a maximum subsidy of HK$180,000. Approval and disbursement of the incentives will take approximately three months from the receipt of an application with all required supporting documents. The vessel’s Hong Kong registration status must be maintained on the date the incentive is disbursed.
 
     The spokesman said, “This scheme will encourage vessels using green maritime fuels to register in Hong Kong and promote the green transformation of the Hong Kong fleet, which will further enhance the overall competitiveness of the HKSR. We estimate that this scheme will attract approximately 100 vessels powered by green maritime fuels to register with the HKSR. Alongside the vessels powered by green maritime fuels currently registered in Hong Kong, we expect that around 170 such vessels registered in Hong Kong will benefit from the scheme within three years of implementation.”
 
     The spokesman added, “‘Low-carbon’ and ‘decarbonisation’ will be the inevitable focal points of the shipping industry’s future development. At present, Hong Kong leads the Guangdong-Hong Kong-Macao Greater Bay Area in bunker volume, ranking second nationally and seventh globally. We are committed to leveraging our existing strengths to fully develop our green maritime fuel bunkering capabilities, with an aim to establish Hong Kong as a premier hub for high-quality green maritime fuel bunkering and trading centre.”
 
     For details of the Port Dues Incentive Scheme for Green Maritime Fuel-related Vessels and the Green Vessels Registration Incentive Scheme, please visit the MD’s webpages (www.mardep.gov.hk/filemanager/en/share/forms/pdf/md558.pdfIssued at HKT 14:30

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Provisional statistics on index of industrial production and producer price index for manufacturing and waste management sectors for first quarter of 2026

Source: Hong Kong Government special administrative region – 4

According to the provisional results of a survey released today (June 12) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole increased by 3.1% in the first quarter of 2026 compared with a year earlier, following a year-on-year increase of 5.8% in the fourth quarter of 2025. The corresponding producer price index increased by 17.7% in the first quarter of 2026 compared with a year earlier, following a year-on-year increase of 9.5% in the fourth quarter of 2025.

The index of industrial production for sewerage, waste management and remediation activities decreased by 1.6% in the first quarter of 2026 compared with a year earlier, following a year-on-year decrease of 2.0% in the fourth quarter of 2025. The corresponding producer price index increased by 3.8% in the first quarter of 2026 compared with a year earlier, following a year-on-year increase of 0.2% in the fourth quarter of 2025.

Indices of industrial production reflect changes in the volume of local industrial output after discounting the effect of price changes. The price changes are measured by the producer price indices compiled from data on producer prices of selected industrial goods/services collected in the same survey.

Comparing the industrial production in respect of major manufacturing industries in the first quarter of 2026 with that a year earlier, increases in output volume were recorded mainly in the metal, computer, electronic and optical products, machinery and equipment industry (+6.6%), and the food, beverages and tobacco industry (+2.1%). On the other hand, decreases in output volume were recorded in the textiles and wearing apparel industry (-4.7%), and the paper products, printing and reproduction of recorded media industry (-2.6%).

On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole decreased by 2.6% in the first quarter of 2026 compared with the fourth quarter of 2025.

Producer price indices reflect changes in the prices of local output. They measure changes in the actual prices (net of any discounts or rebates allowed to buyers, plus any surcharges) received by producers for their output. Transportation and other incidental charges are not included.

Comparing the first quarter of 2026 with a year earlier, increases in producer prices were recorded for all major manufacturing industries. The metal, computer, electronic and optical products, machinery and equipment industry had the largest increase in producer price (+32.0%), followed by the paper products, printing and reproduction of recorded media industry (+2.7%), the textiles and wearing apparel industry (+1.4%), and the food, beverages and tobacco industry (+1.3%).

Table 1 shows the year-on-year percentage changes in the indices of industrial production for manufacturing and waste management sectors by selected industry grouping. Table 2 shows the year-on-year percentage changes in the producer price indices for manufacturing and waste management sectors by selected industry grouping.

The revised figures on indices of industrial production and producer price indices for manufacturing and waste management sectors for the first quarter of 2026 will be released at the website of the C&SD (www.censtatd.gov.hk/en/page_8000.html) and relevant publications of the Department starting from July 17, 2026.

Users can browse and download the reports “Quarterly Index of Industrial Production for Manufacturing and Waste Management Sectors, 1st Quarter 2026” (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1070002&scode=310) and “Quarterly Producer Price Index for Manufacturing and Waste Management Sectors, 1st Quarter 2026” (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1070003&scode=280) at the website of the C&SD.

For enquiries about indices of industrial production and producer price indices for manufacturing and waste management sectors, please contact the Industrial Production Statistics Section of the C&SD (Tel: 3903 7247; email: ind-production@censtatd.gov.hk).

Dogs allowed to enter permitted food premises from July 9

Source: Hong Kong Government special administrative region

     The Food and Environmental Hygiene Department (FEHD) today (June 12) announced that dogs will be allowed to enter permitted food premises starting from July 9. The FEHD conducted an open balloting today and allocated 1 000 quotas for allowing dogs to enter food premises according to the ballot result.

     The FEHD invited the Chairman of the Panel on Food Safety and Environmental Hygiene of the Legislative Council, Ms Chan Hoi-yan, to officiate the open ballot this morning. During the process, five different sequences were randomly generated by computer using the licence numbers of all applying food premises, after which Ms Chan manually drew one of the sequences for the allocation of quotas. The first 1 000 applications in the sequence drawn were considered successful, while the remaining ones will be placed on a waiting list. The ballot results have been uploaded to the FEHD’s dedicated webpage (www.fehd.gov.hk/english/licensing/dog_restaurants/index.html

Hong Kong-Shenzhen co-operation brings New Engineering Contract and Smart Site Safety System to Qianhai

Source: Hong Kong Government special administrative region

Hong Kong-Shenzhen co-operation brings New Engineering Contract and Smart Site Safety System to Qianhai     ​
     The 4S enables remote monitoring of high-risk activities on construction sites in real time (such as lifting operations, working in confined spaces, and mobile machinery operations). It can detect hazards early and issue immediate alerts to prevent serious accidents. Project teams can also analyse safety performance data collected by the 4S to identify the crux of potential safety hazards and formulate appropriate enhancement measures. To encourage the effective use of the 4S, the DEVB, in collaboration with the Construction Industry Council, launched the 4S Labelling Scheme to award a label to construction sites that have been inspected on-site and assessed as having properly applied the 4S. To date, over 800 public and private projects have received labels. Following the adoption of the 4S, the overall accident rate in the construction industry has been reduced by approximately 20 per cent, having a positive impact on construction site safety and providing more comprehensive protection for workers’ safety.
Issued at HKT 16:45

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“Smart Parent Net” Recommendation: (Video) “Plug Into Play-Charging Your Child’s Development and Your Connection” Parent Talk – How play recharges children(Chinese version only)

Source: Hong Kong Government special administrative region – 3

“Smart Parent Net” Recommendation: (Video) “Plug Into Play-Charging Your Child’s Development and Your Connection” Parent Talk – How play recharges children(Chinese version only)

29 landlords of subdivided units under regulated tenancies convicted of contravening relevant statutory requirements

Source: Hong Kong Government special administrative region

29 landlords of subdivided units under regulated tenancies convicted of contravening relevant statutory requirements 
     The offences of these 29 landlords include (1) failing to submit a Notice of Tenancy (Form AR2) to the Commissioner of Rating and Valuation within 60 days after the term of the regulated tenancy commenced; and (2) requesting the tenant to pay money other than the types permitted under the Ordinance (including requiring the tenant to pay an amount of rent for the second-term tenancy exceeding the maximum amount of rent permitted under the Ordinance).

     The RVD earlier discovered that the landlords failed to comply with the relevant requirements under the Ordinance. Upon a comprehensive investigation and evidence collection, the RVD prosecuted the landlords.
 
     A spokesman for the RVD reiterated that SDU landlords must comply with the relevant requirements under the Ordinance, including prohibiting landlords from doing any act calculated to interfere with the peace or comfort of members of the tenant’s household, with the intention of causing the tenant to give up occupation of the SDU; or requiring the tenant to pay an amount of rent for the second-term tenancy exceeding the maximum amount of rent permitted under the Ordinance, and also reminded  tenants of their rights under the Ordinance, including a four-year (i.e. two years plus two years) security of tenure. He also stressed that the RVD will continue to take resolute enforcement action against any contraventions of the Ordinance. Apart from following up on reported cases, the RVD has been adopting a multipronged approach to proactively identify, investigate and follow up on cases concerning landlords who are suspected of contravening the Ordinance. In particular, the RVD has been requiring landlords of regulated tenancies to provide information and reference documents of their tenancies for checking whether they have complied with the requirements of the Ordinance. If a landlord, without reasonable excuse, refuses to provide the relevant information or neglects the RVD’s request, the landlord commits an offence and is liable to a maximum fine at level 3 ($10,000) and to imprisonment for three months. Depending on the actual circumstances, and having regard to the information and evidence collected, the RVD will take appropriate actions on individual cases, including instigating prosecution against suspected contraventions of the Ordinance. In addition, the RVD has started a new round of publicity and education work to enhance public awareness about the key offences and penalties, emphasising that the RVD proactively checks whether landlords have committed the offences under the Ordinance.  
     The RVD reminds that pursuant to the Ordinance, a regulated cycle of regulated tenancies is to comprise two consecutive regulated tenancies (i.e. the first-term tenancy and second-term tenancy) for an SDU, and the term of each regulated tenancy is two years. A tenant of a first-term tenancy for an SDU is entitled to be granted a second-term tenancy of the regulated cycle, thus enjoying a total of four years of security of tenure. The RVD has been issuing letters enclosing relevant information to the landlords and tenants concerned of regulated tenancies in batches, according to the expiry time of their first-term tenancies, to assist them in understanding the important matters pertaining to the second-term tenancy, and to remind them about the procedures that need to be followed about two months prior to the commencement of the purported second-term tenancy as well as their respective obligations and rights under the Ordinance. These landlords and tenants may also visit the dedicated page for the second-term tenancy on the RVD’s website (www.rvd.gov.hk/en/tenancy_matters/second_term_tenancy.html 
     For enquiries related to regulated tenancies, please call the telephone hotline (2150 8303) or visit the RVD’s webpage (
www.rvd.gov.hk/en/our_services/part_iva.htmlIssued at HKT 15:55

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Draft Shek Kong Outline Zoning Plan approved

Source: Hong Kong Government special administrative region

Draft Shek Kong Outline Zoning Plan approved 
     “The approved OZP provides a statutory land use planning framework to guide the development and redevelopment within the Shek Kong area”, a spokesman for the Town Planning Board said today (June 12).
 
     The planning scheme area, covering about 564 hectares, is situated in the south-eastern part of the North West New Territories. It is bounded by the Kadoorie Experimental and Extension Farm in the east, the Lam Tsuen Country Park and the Shek Kong Barracks in the north, Tin Sam San Tsuen and Yuen Kong in the west, and the Tai Lam Country Park as well as the Tai Mo Shan Country Park in the south.
 
     The approved OZP has incorporated amendments shown on the draft Shek Kong OZP No. S/YL-SK/10, which mainly involve rezoning an area to the south of Kam Sheung Road and west of Lai Uk Tsuen from “Residential (Group D)” to “Residential (Group C)”.
 
     The Notes and Explanatory Statement of the OZP have been amended to reflect the above amendments. Opportunity is also taken to update the general information of various land use zonings and the planning circumstances, where appropriate.
 
     The approved Shek Kong OZP No. S/YL-SK/11 is available for public inspection during office hours at (i) the Secretariat of the Town Planning Board, (ii) the Planning Enquiry Counters, (iii) the Fanling, Sheung Shui and Yuen Long East District Planning Office, (iv) the Yuen Long District Office, and (v) the Pat Heung Rural Committee.
 
     Copies of the approved OZP are available for sale at the Map Publications Centre in North Point. The electronic version of the OZP can be viewed on the Town Planning Board’s website (www.tpb.gov.hkIssued at HKT 16:00

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Draft Tung Chung Valley Outline Zoning Plan approved

Source: Hong Kong Government special administrative region

Draft Tung Chung Valley Outline Zoning Plan approved      
     The approved OZP has incorporated the amendments shown on the draft Tung Chung Valley OZP No. S/I-TCV/3, which involve (i) rezoning a site at the junction of Yu Tung Road and Chung Mun Road from “Residential (Group C) 2” to “Residential (Group B)” for a private residential development; (ii) rezoning six strips of land near Hau Wong Temple, Ngau Au and Shek Mun Kap from area shown as ‘Road’ to “Commercial (2)”, “Open Space” (“O”), “Government, Institution or Community” (“G/IC”), “Village Type Development”, “Green Belt”, “Other Specified Uses” annotated “Polder” and “Conservation Area”; (iii) rezoning a piece of land near Hau Wong Temple from “G/IC” to “O”; and (iv) revision of the Building Height Restriction of a piece of land to the south of Hau Wong Temple zoned “G/IC” from four storeys to one storey.Issued at HKT 16:00

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Draft Cha Kwo Ling, Yau Tong, Lei Yue Mun Outline Zoning Plan approved

Source: Hong Kong Government special administrative region

Draft Cha Kwo Ling, Yau Tong, Lei Yue Mun Outline Zoning Plan approved      
     “The approved OZP provides a statutory land use planning framework to guide the development and redevelopment within the Cha Kwo Ling, Yau Tong, Lei Yue Mun area,” a spokesman for the Town Planning Board said today (June 12).
      
     The planning scheme area, covering an area of about 264 hectares, is located in East Kowloon within the Kwun Tong District. It is bounded by the hilly ranges of Black Hill, Chiu Keng Wan Shan and Devil’s Peak (Pau Toi Shan) to the east; Lei Yue Mun Strait to the south; Victoria Harbour, Wai Yip Street and Cha Kwo Ling Road to the west and Lei Yue Mun Road and Lam Tin area to the north-west.
      
     The approved OZP has incorporated amendments shown on the draft Cha Kwo Ling, Yau Tong, Lei Yue Mun OZP No. S/K15/28, which mainly involve (i) rezoning a site at the junction of Cha Kwo Ling Road and Shing Yip Street from “Commercial” (“C”) to “Residential (Group A)10” (“R(A)10”) for a private residential development; (ii) rezoning a site at Yau Tong Bay from “Comprehensive Development Area” (“CDA”) to “C(1)” for redevelopment of an existing industrial building to commercial/office building; and (iii) rezoning a site at the junction of Shung Shun Street and Yan Yue Wai from “CDA(5)” to “R(A)11” to reflect the completed residential development.
      
     The Notes and Explanatory Statement of the OZP have been amended to reflect the above amendments. Opportunity is also taken to update the general information of various land use zonings and the planning circumstances, where appropriate.

     The approved Cha Kwo Ling, Yau Tong, Lei Yue Mun OZP No. S/K15/29 is available for public inspection during office hours at (i) the Secretariat of the Town Planning Board, (ii) the Planning Enquiry Counters, (iii) the Kowloon District Planning Office, and (iv) the Kwun Tong District Office.
      
     Copies of the approved OZP are available for sale at the Map Publications Centre in North Point. The electronic version of the OZP can be viewed on the Town Planning Board’s website (www.tpb.gov.hkIssued at HKT 16:00

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