Category: MIL-OSI

Third-term Partners’ Board under Strive and Rise Programme briefed on programme progress Issued at HKT 17:35

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Monthly gravidtrap index for Aedes albopictus mosquitoes drops further in October　
     In October, all 64 survey areas recorded an area gravidtrap index (AGI) lower than the alert level of 20 per cent. The decreases in the MGI and the AGI are attributable to the continuous and intensified mosquito prevention and elimination operations by various government departments and stakeholders, and may also have been affected by factors such as weather. The monthly rainfall was 31.2 millimetres in October, showing a substantial decrease from the 528.7mm in September and 939.2mm in August. Overall, the MGI for Aedes albopictus mosquitoes in October was 2.2 per cent, at Level 1 (indicating the distribution of Aedes albopictus mosquitoes in the survey areas was not extensive). Relevant departments and stakeholders will persistently intensify mosquito prevention and elimination operations.
　
     Moreover, the monthly density index for Aedes albopictus in October was 1.2, which represented that an average of 1.2 Aedes albopictus adults were found in the Aedes-positive gravidtraps, indicating that the number of adult Aedes albopictus was not abundant in the survey areas.
　
     The FEHD currently makes regular announcements on gravidtrap indexes for Aedes albopictus on its webpage. To allow more citizens to quickly grasp the mosquito infestation situation, the FEHD has strengthened information dissemination by promptly announcing the latest gravidtrap indexes through press releases and social media.
　
     In addition, to further reduce the risk of transmission of CF, the FEHD has extended the intensified mosquito control work, which was originally activated when the AGI reaches 20 per cent, to cover areas with the AGI falling between 10 and 20 per cent. Specifically, the FEHD will conduct detailed risk assessments in the areas concerned to identify locations with higher mosquito infestation risks and, in collaboration with relevant departments and stakeholders, conduct intensive and targeted mosquito control work. The FEHD will also notify nearby housing estates, advising property management agents and residents to stay vigilant and work together to take mosquito prevention and elimination measures.
　
     To reduce the risk of transmission of CF and DF, the FEHD continues to step up mosquito prevention and control measures across all districts and to conduct vector investigations and targeted mosquito control operations within a 250-metre radius of the residence of patients and the places patients had visited during the infectious period, including removing mosquito breeding grounds, applying larvicides to stagnant water that cannot be cleared, and carrying out ultra-low volume fogging operations in adult mosquito habitats such as densely wooded areas, dark and secluded places, and abandoned structures to eliminate adult mosquitoes.

     The FEHD continues to conduct its three-phase Anti-mosquito Campaign this year. The third phase of the territory-wide campaign ended on October 24. During the period, the district offices of the FEHD targeted areas that have drawn particular concern, such as public markets, cooked food centres, hawker bazaars, single-block buildings, streets and back lanes, common parts of buildings, village houses, construction sites, vacant sites and road works sites to remove accumulated water and carry out mosquito prevention and control work. To further enhance the effectiveness of mosquito control, the FEHD and relevant government departments have carried out phase two of the All-out Anti-mosquito Operations from May 7. In addition to the work of phase one, including eliminating potential mosquito breeding places, the FEHD called on property management entities to arrange for necessary repairs to their premises to minimise mosquito breeding places and commence adult mosquito control measures by means of regular ultra-low volume fogging operations.　
     Aedes albopictus is a kind of mosquito that can transmit DF and CF. DF is commonly found in tropical and subtropical regions of the world, and has become endemic in many countries in Southeast Asia. In 2024, the World Health Organization (WHO) recorded over 14 million cases, which was a record number. Additionally, according to the WHO, CF cases have been recorded in more than 110 countries/regions. Many countries worldwide experienced CF outbreaks this year, and as of September, over 440,000 cases had been reported in 40 countries/regions worldwide. The DF and CF activities in neighbouring areas have remained high. Members of the public should stay vigilant and continue to carry out effective mosquito prevention and control measures.
Issued at HKT 17:00

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HA approves measures to encourage upward mobility through housing ladder 
     The Hong Kong Housing Authority (HA)’s Subsidised Housing Committee (SHC) today (November 6) approved a series of measures that encourage upward mobility through the housing ladder, including increasing the quota and enhancing the arrangements of the White Form Secondary Market Scheme (WSM), and relaxing the alienation restriction period of new subsidised sale flats (SSF) that will be put up for sale in the open market.
 
     Starting from the next WSM exercise, the HA will further increase the quota by 1 000 to 7 000. Half of the additional quotas will be allocated to young families and one-person applicants aged below 40 opting to join the Youth Scheme (WSM), while the remaining 500 are ordinary quotas.
 
     “In response to keen market demand for the WSM quota, the HA substantially increased the quota by 1 500 and all of them were allocated to young families and one-person applicants aged below 40 under WSM 2024, which eventually was over-subscribed by about five times. More than 80 per cent of the applications received came from young applicants opting to join the Youth Scheme (WSM). This reflected that the scheme was well received by young people,” a spokesman for HA said.
 
     Regarding the operational arrangements of the WSM, the SHC noted that, in recent WSM exercises, an average of about 15 per cent to 20 per cent of the applicants awarded with a quota did not apply for the Certificate of Eligibility to Purchase (CEP) within a specified period for purchasing SSF with premium unpaid in the secondary market.
 
     To avoid wastage of quotas due to personal preferences, the SHC endorsed that starting from the next WSM exercise, the number of Approval Letters to be issued by the HA will be suitably higher than the quota set under the WSM exercise, ensuring that the quota for flat purchases can be fully utilised. The HA will determine the exact percentage of the over-issuance having regard to relevant factors, and details will be announced prior to each application period.
 
     The SHC also approved, starting from the WSM 2024, any unused family quotas will be allocated to one-person applicants, which is consistent with the practice adopted for the primary SSF sale exercise. Moreover, to ensure full utilisation of WSM 2024 quotas, depending on the situation of approved applicants applying for the CEPs, the HA will issue an additional batch of Approval Letters according to the ballot order to cover unused quotas.
 
     The HA will also increase the ratio of the quota allocation between Green Form and White Form from 40:60 to 50:50 starting from the next Home Ownership Scheme (HOS) sale exercise, and at the same time increase the ratio of larger units in HOS and Green Form Subsidised Home Ownership Scheme (GSH) projects to encourage more Public Rental Housing tenants to purchase SSF.
 
     The HA tightened the alienation restrictions of HOS and GSH flats in 2022 to prevent short-term speculative activities. The restriction period for sale in the open market upon payment of premiums was lengthened from the first 10 years to the first 15 years since the date of first assignment. Taking into account the latest market development that the transactions of HOS and GSH flats in the open market have been declining, and to encourage upward mobility through the housing ladder, the SHC endorsed today to shorten the alienation restriction period of new SSF that will be put up for sale in the open market from 15 years to 10 years from the date of the first assignment, starting from the next HOS and GSH sale exercises.
 
     Safeguarding the basic housing needs of Hong Kong people is the top priority of the Government. With the supply of public housing continuously increasing, the Government is also committed to enriching the housing ladder to facilitate upward mobility for the public. Last year’s Policy Address introduced various measures to help members of public, especially young people, achieve home ownership and rekindle their hopes. In the 2025 Policy Address, the Chief Executive further announced a series of initiatives to assist people from different social strata in attaining comfortable and fulfilling lives.
Issued at HKT 16:59

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Labour sector rallies in full force to support Legislative Council General Election Issued at HKT 16:43

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Speech by SCED at sub-forum of eighth China International Import Expo – Hongqiao International Economic Forum in Shanghai (English only) 
Honourable Vice Minister Sheng Qiuping (Vice Minister of Commerce), Executive Vice Mayor Wu Wei (Member of the Standing Committee of the Communist Party of China Shanghai Municipal Committee and Executive Vice Mayor of the Shanghai Municipal People’s Government), Chairman and Executive Director Ren Deqi (Chairman and Executive Director of the Bank of Communications), distinguished guests, ladies and gentlemen,
 
     Good afternoon. It gives me great pleasure to attend today’s session on “Facilitating Cross-Border Trade’s Resilience through Maritime Trade Finance” and, on behalf of the Hong Kong Special Administrative Region Government, speak about Hong Kong’s role on this important topic.
 
     Hong Kong is modest in size as compared with many megacities, with about 7.5 million people in terms of population and 1 100 square kilometres in area. Yet our significance on the global stage far outweighs our modest size. Rarely can you find a city that can excel on multiple fronts at the same time, but because of our convenient geographical location in Asia, world-class port and infrastructure, an extensive international trade network, presence of all major financial institutions from around the world, convergence of professional talents, and decades of tireless efforts in improving our regimes, Hong Kong has successfully achieved the status of being simultaneously an international trade centre, an international maritime centre and an international financial centre. The development of these three centres is not only closely intertwined, but in fact creates huge synergy and can reinforce one another. Our achievements are globally recognised, as Hong Kong is ranked the world’s freest economy, the third largest financial centre, seventh in merchandise trade and fourth in the Xinhua-Baltic International Shipping Centre Development Index.
 
     So, apart from the strengths I mentioned at the outset, what are the other ingredients of our formula for success? Hong Kong is part of China and enjoys the distinctive advantage of having the strong support of our motherland, the Chinese Mainland, which is the second-largest economy in the world. At the same time, under the principle of “one country, two systems”, Hong Kong is a separate customs territory, adopts a free trade regime, has a simple and low tax system, applies common law, has a stable financial system and currency, and is well connected to the world. The convergence of all these advantages has placed Hong Kong in a unique position to talk about the topic today.
 
Maritime heritage
 
     Let me begin with our maritime heritage. Hong Kong’s maritime story stretches back more than one and a half centuries, and over that span, the city has evolved from a modest trading port into a leading international maritime centre. There are currently over 1 200 port and maritime companies in Hong Kong, representing an increase of about 10 per cent over the past five years, despite the impact of the pandemic on international trade during that period. Our port is known for its high efficiency, with a container vessel handling time of about one day, roughly half the world average, which underpins our reputation as a “catch-up port” that helps vessels make up for delays encountered elsewhere.
 
     The quality of Hong Kong’s maritime services is top-notch in the world. Three out of the world’s top 10 ship management companies are headquartered in Hong Kong. In Hong Kong, one can also enjoy the services of 11 out of the 12 member associations of the International Group of Protection and Indemnity Clubs and eight of the world’s top 10 bookrunners of ship finance. Hong Kong is designated as one of the four arbitration venues of the Baltic and International Maritime Council, and is also the sole Asian base for many of the world’s leading shipping organisations, including the International Union of Marine Insurance of Germany and the International Chamber of Shipping of the United Kingdom. To foster a favourable business environment for the maritime industry, the Government has launched a series of tax concessions including tax exemptions for ship leasing business and half-rate tax concessions for marine insurance, ship management, ship agency and ship broking since 2020. We plan to enhance the existing tax concessions with a view to further driving up demand for professional shipping and maritime services. Hong Kong provides an unrivalled ecosystem for maritime services companies to grow their business, which in turn allows shipping companies to easily enjoy first class maritime services. We believe that Shanghai shipping enterprises may capitalise on Hong Kong’s comprehensive high-value-added maritime services package for entering into the international market.
 
Digitalisation and green transformation of Hong Kong Port
 
     As a constructive member of the international shipping community, the quality of the Hong Kong Port is closely aligned with international shipping trends, particularly digitalisation, smart transition, and green transformation. On digitalisation and smart transition, we will soon complete installation of a port community system to facilitate the flow and sharing of cargo data among stakeholders in the maritime, port and logistics industries for enabling real time cargo track-and-trace for goods routing through the Hong Kong Port. The system also has the potential to facilitate trade finance due to the use of blockchain technology to compile and store trusted data on cargo flows. We are also collaborating with the banking industry to explore leveraging blockchain-recorded cargo flow data in the system to enhance trade financing services.
 
     Promoting green and sustainable maritime development is another strategic priority. To meet the International Maritime Organization’s net-zero emission target for international shipping by or around 2050, we promulgated the Action Plan on Green Maritime Fuel Bunkering in 2024, setting out clear targets, strategies and measures to develop green maritime fuel bunkering and trading in Hong Kong. In particular, we target to develop Hong Kong into a green maritime fuel trading centre, and a key channel selling and exporting Mainland-produced green maritime fuels to worldwide user companies.
 
Commodity trading ecosystem
 
     Notwithstanding our success in shipping, trade and finance, we have never stopped identifying new growth areas. The expansion of the commodity trading ecosystem serves as a new step to leverage our strengths to further promote the development of the Hong Kong economy.
 
     Commodities, including metals and minerals, account for more than half of the global shipping trade volume, while shipowners and commodity traders are the key users of shipping routes and maritime services. Their presence and operation in Hong Kong can drive the maritime services industry, and boost demand for related financial and professional services such as hedging activities of related futures products. Creating a commodity trading ecosystem in Hong Kong will catalyse growth across related sectors. A landmark achievement in this regard is that the London Metal Exchange (LME), a wholly-owned subsidiary of the Hong Kong Exchanges and Clearing Limited (HKEX), has included Hong Kong as an approved delivery point within its global warehousing network since January this year, and 11 LME-licenced warehouses in Hong Kong have been approved. The establishment of such warehouses in Hong Kong not only will provide convenient, cost-effective and safe delivery channels for related metals trading in the region, but also increase the demand for Hong Kong’s trade, shipping, warehousing and transportation industries, strengthen Hong Kong’s commodities ecosystem, and lay a foundation for future expansion of related financial transactions such as futures.
 
     At the same time, collaboration across the Guangdong-Hong Kong-Macao Greater Bay Area, which covers Guangdong Province on the Chinese Mainland, Hong Kong and Macao, further amplifies Hong Kong’s role as a trade hub. Take the Qianhai Mercantile Exchange (QME) as an example. The QME, a subsidiary of the HKEX with turnover of RMB100 billion over the past year, operates our country’s only offshore spot trading platform for soybeans. The HKEX continues to explore the feasibility of co-operation between the QME and Mainland commodities and futures exchanges to strengthen the two-way connectivity between domestic and overseas commodities market participants and attract more foreign enterprises to participate in trading at the platform, thereby contributing to the internationalisation of our country’s commodity market.
 
Maritime trade finance innovation
 
     At the heart of Hong Kong’s vision for resilient cross-border trade lies maritime trade-finance innovation. In today’s evolving global landscape where trade conflicts and supply chain disruptions are reshaping established trade patterns, a more digitalised and streamlined trade finance ecosystem can greatly benefit businesses, small and medium-sized enterprises (SMEs) in particular, as they transform their business model and supply chains. In this context, I am pleased to introduce Hong Kong’s latest initiative to address these challenges and unlock new opportunities, i.e. Project CargoX.
 
     Project CargoX is a public-private collaboration launched by the Hong Kong Monetary Authority, Hong Kong’s central banking institution. Project CargoX aims to build a more inclusive and efficient digital ecosystem for trade finance infrastructure, leveraging cargo and trade data to streamline and enhance trade finance processes; developing digital solutions to improve accessibility to trade finance for SMEs; and exploring connections with international data partners to facilitate trade financing. One of the financing challenges in the logistics industry is the handling of extensive paperwork across different regions, which burdens banks and creates hurdles for SMEs seeking loan approvals. Banks can now obtain reliable and secured data through Project CargoX, significantly saving time and labour costs for both banks and businesses.
 
     By aligning maritime infrastructure, green ambitions and digital trade-finance platforms, we are confident that Hong Kong will construct a resilient ecosystem capable of absorbing shocks, adapting to shifting geopolitical currents, and sustaining growth for the next generation of traders and shippers.
 
     Hong Kong now stands at a pivotal crossroads where a storied maritime legacy meets cutting-edge technology and sustainability, but you can tell by my introduction that Hong Kong is ready to advance to a new stage. We invite shipping enterprises, financial institutions, commodity traders and technology partners from Shanghai, the Mainland and beyond to seize the opportunities that Hong Kong offers: a digitally empowered hub where maritime trade finance can thrive, underpinning a prosperous global supply chain. Thank you.
Issued at HKT 16:33

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