Category: MIL-OSI

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LCQ5: Developing marine economy

Source: Hong Kong Government special administrative region

LCQ5: Developing marine economy 
Question:
 
It has been reported that a number of coastal provinces in the Mainland have set up inter-departmental co-ordination groups led by provincial governors to co-ordinate policies on marine economy. However, there are views pointing out that the development of marine economy in Hong Kong is taken forward in a piecemeal fashion without top-level planning. In this connection, will the Government inform this Council:
 
(1) as there are views that development of marine economy involves various portfolios and it is difficult for a single-policy bureau to co-ordinate inter-departmental resources, whether the Government will make reference to the experience of the Mainland and set up a dedicated team led by officials at the decision-making level to co-ordinate the development of marine economy; if so, of the details and the implementation timetable; if not, the reasons for that;
 
(2) as there are views that the existing policy focusing on regulation may hinder the development of marine economy, how the Government will promote the development of maritime industries, e.g. of the breakthroughs in terms of the introduction of the relevant legislative amendments and innovative policies, as well as the enhancement of cross-boundary co-operation and co-ordination; and
 
(3) apart from the three tourism projects currently being taken forward by the Development Bureau under the large-scale land-disposal approach, whether the Government will consider selecting more islands and coastal areas with potential for tourism development to implement the large-scale land-disposal approach on a trial basis, so as to bring in social capital for participation in infrastructure development and operation, thereby enhancing the competitiveness of marine tourism in Hong Kong?
 
Reply:
 
President,

International organisations and individual economies have different definitions for “marine economy”, and there is no unified global standard on which industries fall under the scope of marine economy. For Hong Kong, having made reference to the breakdown of the industry classification of the Mainland’s marine economy and roughly compared the industries covered therein with those in the Hong Kong Standard Industrial Classification Version 2.0 compiled by the Hong Kong Census and Statistics Department and other known industry classifications, the Government Economist considered that the marine economy-related activities in Hong Kong can be broadly categorised into the following six categories:
 One of the six categories, “maritime transportation and port industry” includes ports, shipping, and maritime commercial services. In 2022, this sector contributed 4.2 per cent to Hong Kong’s Gross Domestic Product (GDP) and accounted for 2.1 per cent of total employment. Besides, “marine utilisation, extraction, production, and related manufacturing”, along with “wholesale and retail of marine products”, are partially related to capture fisheries and mariculture. According to data from the Agriculture, Fisheries and Conservation Department (AFCD), the local capture fisheries and mariculture production in 2023 was approximately 87 000 tonnes, with a total value of about $2.4 billion, estimated to contribute less than 0.1 per cent to GDP. As for the remaining three categories, their value-added contributions could not be estimated due to limited data.
 
Having consulted the Deputy Financial Secretary, the Transport and Logistics Bureau (TLB), Culture, Sports and Tourism Bureau (CSTB), the Innovation, Technology and Industry Bureau (ITIB), and the Development Bureau (DEVB), my consolidated reply to the question of the Hon Steven Ho is as follows:

(1) Given the extensive scope of the marine economy, which encompasses a diverse range of industries and development models, multiple policy bureaux and departments within the Special Administrative Region (SAR) Government are responsible for related areas. Relevant bureaux and departments attach importance on these developments and have formulated and implemented strategies, action plans, or blueprints accordingly. Each policy bureau and department, in accordance with their professional functions, introduces targeted measures to advance the development of marine economy-related areas under its purview, which are in line with the overarching policy direction, strategies, and pace of development. This approach fosters synergies between marine economy development strategies and other initiatives within the respective bureaux and departments, thereby more effectively achieving their policy objectives. The Government believes that the current approach suits Hong Kong’s circumstances. Bureaux and departments will continue to review the development direction and progress of their respective areas, working collectively to drive the growth of marine economy. The SAR Government will also monitor progress across all fronts and, if necessary, explore ways to optimise the development approach. 
On maritime services, apart from enforcing the relevant legislation to ensure marine safety, the Marine Department (MD) also endeavours to make maritime services more convenient. For instance, allowing the use of electronic certificates instead of paper-based certificates for ship-related matters. The MD also maintains close liaison and collaboration with Mainland maritime authorities at all levels.
 
On marine tourism, the CSTB put forward in the Development Blueprint for Hong Kong’s Tourism Industry 2.0 to make more and better use of Hong Kong’s rich island and coastline tourism resources. As such, the CSTB encourages the development of more diverse tourism products with characteristics, and is ready to study and foster areas where removal of statutory and regulatory barriers are required. At the same time, the CSTB actively promotes development of island tourism and large-scale integrated resort projects focusing on eco-tourism, as well as continues to consolidate Hong Kong’s position as Asia’s hub for international cruise thereby promoting development of cruise tourism.
 
The ITIB has all along been dedicated to enhancing Hong Kong’s innovation and technology ecosystem with a view to supporting the development of different technology industries (including marine technology) in various areas including capital, research and development, supporting tech start-ups and talent. At present, Hong Kong has one State Key Laboratory of Marine Pollution, contributing to the protection and management of the marine environment.
 
On the fisheries front, the Environment and Ecology Bureau and the AFCD are actively taking forward the various initiatives under the Blueprint for the Sustainable Development of Agriculture and Fisheries, including designation of four new fish culture zones as well as introduction of modernised facilities to support development of mariculture, explore the streamlining of relevant legislations to promote development of leisure fisheries, and at the same time strengthen co-operation with the Mainland. To further enhance the competitiveness of local agricultural and fisheries products, the AFCD plans to establish a unified new brand for safe, low-carbon and premium local agricultural and fisheries products, and to establish production standards, farming methods as well as a certification and traceability system for these products, etc. The AFCD will continue to actively participated in the promotional activities in the Guangdong-Hong Kong-Macao Greater Bay Area to promote quality local products. In addition, the AFCD has designated three new marine parks in the past five years, and has also formulated new fishery management strategies in marine parks and implemented marine ecological enhancement measures. 
Besides, the DEVB recently has also proposed to provide marina and land supporting facilities at two waterside areas, namely the Aberdeen Typhoon Shelter expansion area and the harbourfront site in the vicinity of the Hung Hom Station.
 
As to whether there are other suitable sites for large-scale land disposal in the future, the DEVB is willing to listen to different views, and will consider the experiences gained from taking forward the above three projects.Issued at HKT 15:25

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LCSD welcomes public to join free programmes of Performing Arts Fun Day 2025 (with photos)

Source: Hong Kong Government special administrative region

LCSD welcomes public to join free programmes of Performing Arts Fun Day 2025  
     The first of the Fun Day series will take place at YLT from 2pm on May 18 (Sunday), with activities including performances and workshops of handbell, choir, Cantonese opera, dance and guzheng. Guided stage tours will also be held for participants to explore the Auditorium of YLT including the backstage, which is rarely open to public, and learn more about the advanced stage equipment and operations. Parent-child storytelling sessions, a book display, and an exhibition celebrating the 25th anniversary of YLT will also be held at the foyer, while guzheng performances will be held at the bamboo courtyard in the Theatre. This Performing Arts Fun Day 2025 event is one of the programmes celebrating the 25th anniversary of YLT.
 
     KTT will hold another Fun Day series from 2.15pm on May 25 (Sunday). Audiences will be welcomed by a variety of jazz tunes performed by members from the Hong Kong Youth Jazz Collective of the Count-In Music with guided appreciation of jazz music. A cappella group Boonfaysau and participants of the 18dART Community Arts Scheme in Kwai Tsing will perform an array of pop songs. In addition, Ming Ri Institute For Arts Education will stage an interactive theatre performance, “The Kingdom of Fairy Tales”, while the Kwai Chung & Tsing Yi District Culture & Arts Co-ordinating Association will give an exhilarating dance performance.
 
     The third Fun Day will be held at STTH from 2pm on June 8 (Sunday). Professional dancers of the Hong Kong Dance Company will demonstrate various types of Chinese classical and ethnic dance, accompanied by dance appreciation and an interactive session. Apart from a Cantonese opera experimental theatre performance and an accessories workshop by Cantonese Opera Advancement Association, the Hong Kong Theatre Works will conduct the “Not One Less” interactive theatre, suitable for families. Guided tours of the City Art Square will be held to introduce public sculptures and installations created by world-renowned artists in the outdoor spaces of STTH.
 
     Admission by ticket is required for some events with limited places. Tickets are distributed on a first-come, first-served basis. For details, please visit the websites of the YLT (www.lcsd.gov.hk/en/ylt/performingartsfunday2025.htmlIssued at HKT 15:00

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LCQ22: Reverse Mortgage Programme

Source: Hong Kong Government special administrative region

LCQ22: Reverse Mortgage Programme 

Payment term(+11% year-on-year)(+26% year-on-year)(-16% year-on-year)(+22% year-on-year)     The RMP offered the Enhanced Fixed-rate Mortgage Plan for members of the “AMIGOS By HKMC” loyalty programme from mid-July 2021 to the end of 2022. The monthly payout under the offer was higher than that under the floating-rate mortgage plan at that time by up to 30 per cent, while the monthly mortgage insurance premium was increased by 0.25 per cent per annum. The Enhanced Fixed-rate Mortgage Plan received 884 applications in total.

(2) As reverse mortgage is a loan arrangement by nature, its demand is affected by various factors, such as the personal needs of individual retired homeowners and the condition of the residential property and financial markets (including interest rate fluctuation), etc. The HKMC has been keeping under review the condition of applications for the RMP. Through years of ongoing efforts in promotion and education, the public has become more receptive to the RMP and the other two products, and has a better understanding of the benefits of the products in respect of retirement financial planning. The number of applications for the RMP has also increased steadily. The HKMC will continue with its public education and promotion to further enhance the public’s understanding of the RMP.Issued at HKT 15:00

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Online job fair attracts global talent

Source: Hong Kong Information Services

Hong Kong Talent Engage (HKTE) held a two-day Global Online Career Fair last week, featuring nearly 50 renowned Hong Kong enterprises that offered over 700 quality job vacancies across sectors such as accounting, finance, consultancy services, legal compliance and engineering.

 

The online career fair recorded over 26,000 visits in two days, with about 3,000 curricula vitae received.

 

To facilitate a connection between talent and enterprises, a one-to-one online meeting session was set up specifically at the career fair, resulting in about 4,800 direct dialogues between talent and enterprises. Participating enterprises expressed that about half of such dialogues would be taken forward.

 

According to participating accounting firms, they learnt through the online career fair that many international professionals were interested in coming to Hong Kong.

 

The event effectively linked global talent with enterprises in Hong Kong, thereby enabling direct engagement, enhancing the talent’s understanding of the structure and recruitment process of Hong Kong enterprises, and enhancing the experience of such talent.

 

Participating talent came from over 12 countries or regions, such as the Mainland, Singapore, India, the UK, Australia, the US, Malaysia, France and Canada, with 62% of them holding master’s degrees.

 

The HKTE said that the online career fair enables talent on the Mainland and overseas to exchange views directly with enterprises prior to relocation to Hong Kong, gain insights into the city’s job market, and reinforce their confidence in pursuing development in Hong Kong.

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InvestHK helps 223 firms in 4 months

Source: Hong Kong Information Services

From January to April this year, Invest Hong Kong assisted 223 Mainland and overseas enterprises, representing an increase of 13% relative to the same period last year.

Acting Secretary for Commerce & Economic Development Bernard Chan told legislators today that these enterprises are expected to bring in direct investment of over $22.3 billion and create more than 4,900 jobs within their first year of operations or expansion.

More than a quarter of the enterprises indicated they plan to set up international or regional headquarters in Hong Kong, he added.

The top five places of origin of the 223 enterprises are the Mainland, the US, Japan, the UK and Singapore. Meanwhile, the top five sectors are financial services and fintech, family offices, innovation and technology (I&T), tourism and hospitality, and consumer products.

Separately, the Office for Attracting Strategic Enterprises (OASES), established directly under the Financial Secretary by the current-term Government, has so far attracted 84 strategic enterprises to Hong Kong, many of which plan to establish their international or regional headquarters in the city. OASES was set up in 2022 to attract high-potential and strategic I&T enterprises from around the globe.

Besides attracting enterprises and investment, the current-term Government is also committed to attracting talent from the Mainland and overseas. From January to April this year, over 45,000 new applications under various talent admission schemes were received, with more than 35,000 being approved.

Mr Chan stressed that the Hong Kong Special Administrative Region Government will continue to make every effort to attract more enterprises and talent from the Mainland and overseas.

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LCQ19: Support for commodities trading

Source: Hong Kong Government special administrative region

     Following is a question by the Hon Frankie Yick and a written reply by the Acting Secretary for Financial Services and the Treasury, Mr Joseph Chan, in the Legislative Council today (May 14):
 
Question:
 
     In January of this year, the London Metal Exchange (LME), a subsidiary of the Hong Kong Exchanges and Clearing Limited, announced that it would include Hong Kong as an approved delivery point within its global warehousing network and accept applications from warehouse operators for approval. Last month, LME announced that it had approved applications to establish four LME-licensed warehouse facilities in Hong Kong. Furthermore, it has been reported that other warehouse operators are applying to become approved warehouses for the storage of LME-registered brands of metals. In this connection, will the Government inform this Council:
 
(1) whether it knows the following information about the four warehouses that have been approved by LME and those that are applying to become approved warehouses: (i) locations, (ii) storage capacities, and (iii) the timing of formal commencement of service; whether the authorities have estimated the number of warehouses and storage capacity needed to develop Hong Kong as a metal delivery point, and what the respective differences are as compared to the current supply and capacity of warehouses;
 
(2) as it has been reported that, to encourage more warehouse operators to apply to become approved warehouses of LME, the Government has stated that it will provide assistance on technical matters as appropriate, whether it knows the requirements for becoming an approved warehouse of LME; what assistance the Government has provided to address technical issues faced by warehouse operators; and
 
(3) regarding the creation of a commodity trading ecosystem, apart from developing approved warehouses, what further measures the Government has put in place to facilitate the robust development of local commodities trading-related services, so as to consolidate Hong Kong’s position as an international financial, shipping and trade centre?
 
Reply:
 
President,
 
     Our country is the world’s largest consumer of industrial metals. Developing relevant commodity trading will drive the development of a financial, shipping and trade centre in Hong Kong. The Chief Executive’s 2024 Policy Address proposes the creation of a commodity trading ecosystem which can be a starting point for attracting relevant enterprises to establish a presence in Hong Kong, turning our city into an operation centre for international commodity trading, storage and delivery, shipping and logistics, risk management, and more.
 
     In consultation with the Hong Kong Exchanges and Clearing Limited (HKEX), the reply to the three parts of the question is as follows:
 
(1) and (2) The London Metal Exchange (LME), a wholly-owned subsidiary of the HKEX, included Hong Kong as an approved delivery point within its global warehousing network in January this year, and began accepting applications from warehouse operators to become approved warehouses. The LME announced the approval of the first four approved warehouses to be established in Hong Kong in April this year. The total storage area and types of metal that can be stored in each warehouse are set out in the table below.
 

Warehouse location Total storage area (square metre) Types of metal that can be stored
Cheung Sha Wan 500 aluminium alloy, primary aluminium, copper, nickel, lead, tin and zinc
500
Tsing Yi 4 100 aluminium alloy, lead, tin and zinc
Yuen Long 4 062 aluminium alloy, primary aluminium, copper, nickel, lead, tin and zinc

 
     The LME-approved warehouses are required to comply with relevant technical requirements, such as loading standards for metals. The four warehouse facilities have passed LME’s initial inspection and are compliant with relevant standards in terms of transportation and logistics. Preparations including system connections are underway, and the facilities are expected to commence operations gradually as soon as July this year.
 
     Before making the decision to include Hong Kong as an approved delivery point, the LME had assessed the feasibility of establishing warehouse facilities in Hong Kong, including the sustainability of business operations, cost, technical requirements, etc. In selecting suitable sites for the warehouses, the operators had to hold in-depth discussions with the relevant warehousing industry players and landowners, which mainly involved the circumstances of individual facilities (such as loading capacity and infrastructure requirements) and other business considerations. In the course of discussion, technical issues involving planning permissions, lease conditions, etc. were identified. The Financial Services and the Treasury Bureau (FSTB) in collaboration with relevant bureaux and departments has been maintaining communication with relevant industry players, and held meetings to provide relevant information and guidance.
 
     The LME has indicated that there are other operators applying to become approved warehouses, and it is expected that more warehouses will be approved subsequently. Based on the implementation of the relevant market mechanism, the development of metal delivery destinations and warehouses will be determined by market supply and demand. There is no specific quantitative target.
 
(3) In terms of base metals, besides facilitating the LME to establish approved warehouses in Hong Kong, to attract more trading and delivery, the HKEX will host LME Asia Week in May this year, inviting international and Mainland metal manufacturers, traders, buyers and sellers to participate in in-depth discussions and exchanges on industry topics, including the introduction of the latest LME approved delivery points, including Hong Kong.
 
     In terms of financial trading of other types of commodity, the Chief Executive’s 2024 Policy Address proposes to use gold as an entry point to develop the relevant commodity ecosystem. Specifically, it is the Government’s goal to promote the development of world-class gold storage facilities, thereby attracting more investors and users from different economies, including the Middle East and Southeast Asia, to store gold in Hong Kong. On the basis of increased storage, we expect increased demand for associated support services in insurance, testing and certification, logistics, etc, while in parallel expanding related transactions including collateral, loan and hedging, hence creating a comprehensive ecosystem in a progressive manner. This will drive all-round multi-currency trading, clearing and delivery, as well as the development of the regulatory system, covering transactions using offshore Renminbi (RMB), thereby establishing a holistic gold trading centre with an industry chain. The FSTB established the Working Group on Promoting Gold Market Development (Working Group) in December 2024, comprising leaders of the financial industry, representatives of regulatory bodies and market participants, to comprehensively review all aspects relating to financial transactions of gold. The Working Group will formulate a plan this year to enhance storage facilities, optimise trading and regulatory mechanisms, expand exchange products, and conduct market promotion.
 
     At the same time, the Qianhai Mercantile Exchange, a subsidiary of the HKEX, operates our country’s only offshore spot trading platform for soybeans, thereby laying the foundation for the expansion of RMB-denominated commodity products, channeling off-shore RMB liquidity to the commodities market, promoting RMB internationalisation, attracting relevant traders to expand their business in Hong Kong, and establishing an ecosystem for the commodity.

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Support Taiwan’s participation in the WHO

Source: Republic of China Taiwan

Support Taiwan’s participation in the WHO and welcome the Fu Jen Catholic University delegation
Organizers Jennifer Lee and Kathy Sieh, representing the Taiwanese community, urged that the WHO should not be influenced by political pressure and ignore the human rights of Taiwan’s 23 million people. They emphasized that viruses know no borders, and the WHO should promptly include Taiwan.
Director General David Cheng-Wei Wu stressed that Taiwan has been prevented from participating in WHO due to China’s continued distortion of UNGA Resolution 2758 and WHA Resolution 25.1. Neither of them mentions Taiwan is part of the PRC. These resolutions have no power to confer upon the PRC any right to represent Taiwan in WHO. So we must urge WHO and all relevant parties to recognize Taiwan’s contributions to global public health. Taiwan should be included in the WHA and all WHO meetings.
The Hon. Jacqui Munro MLC praised Taiwan’s achievement on economic development and medical capabilities and mentioned that Australian Parliament and NSW Parliament passed motions to refute China’s misinterpretation of UNGA 2758. Taiwan should be included in the WHO and work together to make the world stronger and better.
Councilor Michelle Chuang of Willoughby City Council also reaffirm the vital truth: global health knows no border and the health security of people in Taiwan— and the wider world—should never be a matter of diplomatic bargaining.
There was the keynote speech of Ms LIN,Yu-wen, Associate Dean, College of Medicine of FJCU. She shared her thoughts of why Taiwan should play a crucial role in the WHO. It was followed by President of FJCU Prof. Francis Yi-chen LAN’s presentation about school’s GRACE strategy and vision.
It is much appreciated to see nearly 100 guests turn up to speak up and support Taiwan’s bid to participate in the WHO.