Category: MIL-OSI

Source: Hong Kong Government special administrative region – 4

     Following is the speech by the Secretary for Justice, Mr Paul Lam, SC, at the YBC Conference 2025: The Art of Regulation today (October 31):
 
Mr José Antonio Maurellet, SC (Chairman of the Hong Kong Bar Association), dear friends, distinguished guests, esteemed colleagues and young barristers, ladies and gentlemen,
 
     A very good afternoon. It is my honour to stand before you today at the Conference organised by the Standing Committee on Young Barristers of the Hong Kong Bar Association. This year’s theme explores the regulations in art law and cryptocurrency. Some very eminent and experienced experts, including not just lawyers, will speak in the panel discussions. I shall just offer some preliminary observations.
 
     At first glance, the two topics may seem entirely unrelated. In fact, they are both fast-evolving domains which will provide enormous opportunities for young lawyers. Hence, it is an extremely wise choice to put these two topics together in this Conference.
 
Art law challenges and regulations
 
     As the world’s second-largest art market, second only to New York in contemporary art auctions, Hong Kong is a vibrant hub for artists, collectors and legal professionals alike. Our city boasts significant events such as Art Basel, and we have world-class museums like M+ and the Hong Kong Palace Museum in the West Kowloon Cultural District. Additionally, reputable auction houses like Christie’s and Sotheby’s have enhanced their presence in Hong Kong, which further solidifies Hong Kong’s status in the global art market.
 
     Hong Kong’s unique legal framework is foundational to this burgeoning art scene. The Basic Law provides a robust legal environment that fosters artistic and cultural activities. Article 34 of the Basic Law guarantees that Hong Kong residents shall have the freedom to engage in artistic creation and other cultural activities. Further, Article 108 of the Basic Law preserves the low tax policy, and as a result, there is no capital gains tax on art pieces; which is particularly enticing for collectors and investors, and this makes Hong Kong a very attractive platform for art transactions. Moreover, Articles 114 and 115 of the Basic Law establish Hong Kong as a free port with free movement of goods which is invaluable for the art market, allowing for seamless movement of art pieces across borders.
 
     With a solid intellectual property (IP) regime and a sound legal system supervised by an independent judiciary, Hong Kong provides effective IP protection to artists which is vital in safeguarding artistic integrity and development. Hong Kong is also the first in Asia to clarify and confirm the arbitrability of IP disputes, that is, IP disputes can be resolved by arbitration.
 
     In addition to the above, Hong Kong’s close connection with the Mainland has provided us with further opportunities. The mutual legal assistance on the recognition and enforcement of both arbitral awards and judgments in civil and commercial matters enables certain IP disputes to be resolved efficiently by litigation or arbitration. Notably, the Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters by the Courts of the Mainland and of the Hong Kong Special Administrative Region is more liberal than the 2019 Hague Judgments Convention which excludes judgements on IP disputes entirely.
 
     As outlined in the 2025 Policy Address, the HKSAR Government will step up our efforts to build Hong Kong into a global premium art trading hub, attracting more international auction houses, galleries, and professionals to establish a presence here. Key initiatives include creating an arts ecosystem at Airport City for studios and galleries, enhancing collaboration with Art Basel, and conducting industry studies on taxation, financing and talent.
 
     While the future looks promising, there are also significant challenges that we must address as legal professionals in art law.

     One of the most pressing issues is copyright protection, particularly concerning the use of artificial intelligence (AI) in creating art – we need to explore the feasibility of having further enhancement of the Copyright Ordinance regarding the protection for AI technology development.
 
     As the art market expands, so will the demand for legal services. Issues relating to arts pieces’ storage will require expertise in insurance law, bailment law, logistics law, and even tax and financial planning. Legal professionals will therefore be required to draft and enforce art loan and trading agreements in order to ensure that ownership and authenticity of the art pieces are clearly defined and protected.
 
Development of cryptocurrency in Hong Kong
 
     Hong Kong is a leading international financial centre in the world. Under Article 109 of the Basic Law, we shall provide an appropriate economic and legal environment for the maintenance of such status.
 
     As outlined in the 2025 Policy Address, the HKSAR Government is committed to supporting steady fintech development, including encouragement of tokenisation of assets, offering diverse digital asset products to professional investors, and introducing automated reporting and surveillance tools to mitigate risks associated with digital assets. We believe that true innovation in finance would only thrive in a clear, fair and reliable regulatory setting.
 
Important legal developments in recent years – enhancement of legal and regulatory framework
 
     I wish to highlight some important legal developments in recent years in this respect.
 
(a) Licensing of virtual asset service providers since 2023
 
     Firstly, by amending the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, we have introduced a licensing regime for virtual asset service providers effective from June 2023 to align with international standards set by the Financial Action Task Force. Anyone running a virtual asset exchange in Hong Kong must obtain a licence from the Securities and Futures Commission (SFC). Licensees must meet a fit-and-proper test and comply with investor protection, money laundering and terrorism financing requirements. As of September this year, 11 virtual asset trading platforms have been licensed to offer cryptocurrency trading to retail investors. To address risks seen in the collapses of JPEX and AAX, these platforms must secure insurance for customers’ assets, properly segregate client assets, comply with financial resources requirements and prevent conflict of interest. The SFC has broad powers to supervise, investigate and enforce, with penalties for non-compliance ranging from administrative actions to criminal sanctions.
 
(b) Enacting the Stablecoins Ordinance in 2025
 
     Second, the Stablecoins Ordinance, enacted in May and becoming effective in August this year, seeks to lay a solid foundation for the sustainable development of the stablecoin industry. Only issuers licensed by the Hong Kong Monetary Authority (HKMA) or certain entities can offer stablecoins publicly. As one of the first jurisdictions to put in place a regulatory framework for stablecoin issuers, the HKMA has imposed rigorous requirements to guard against financial stability risks and to promote investor protection. These include requiring licensees to have a local presence, maintain reserve assets at least equal to the stablecoins’ par value, allow easy redemptions without excessive fees, ensure that key personnel are fit and proper, and implement strong risk management to prevent misuse of funds. The law also bans misleading promotional materials and creates offences for unlicensed operations or fraudulent transactions. Under the Stablecoins Ordinance, the HKMA has robust powers for licensing, enforcement and penalties, with a Stablecoin Review Tribunal established to review its decisions.
 
Intended reforms in future
 
(a) Proposal to limit unlicensed virtual asset platforms from using misleading names
 
     Looking ahead to future reforms in this fast-developing area of law, in June this year, the SFC launched a consultation aimed at restricting unregulated entities from improperly adopting names that may mislead the public into believing that such unregulated entities are regulated ones. The proposed reform aims to: (i) prohibit names that falsely suggest SFC regulation or licensing, such as those implying operation as an “SFC-regulated exchange or clearing house”, or an “SFC-licensed virtual asset trading platform”; and (ii) prevent misleading titles that imply affiliations with established financial entities, whether in Hong Kong or overseas, without genuine connections.
 
(b) Proposal to regulate over-the-counter virtual asset dealing and custodian services
 
     The SFC also held consultations with the industry and the public on the proposal to regulate service providers involved in over-the-counter virtual asset dealing and custodian services, with a view to further enhancing investor protection, combating financial crime, and maintaining market integrity and stability. Under the proposed licensing regime, the service providers would be licensed by SFC. They would be subject to the fit-and-proper test and requirements relating to anti-money laundering, financial resources, risk management and investor protection.
 
Judicial developments
 
     Notably, the Hong Kong’s Judiciary has also adopted innovative measures, likely to be the first in the world, to assist victims in cryptocurrency-related cases. In BP SG Investment Holding Limited v Chen Shanxian, a fraudster transferred victims’ assets into anonymous, decentralised, non-custodial cryptocurrency wallets, making identification and service of court documents extremely difficult and challenging. To address this issue, the Court permitted substituted service of an injunction order via a tokenised order, through a messaging platform between virtual asset wallets, and airdropping a non-fungible token, commonly known as NFT, containing a hyperlink to the court order. This method of service effectively “taints” the wallets in the sense that all subsequent transactions that follow the service can be traced to the blockchain and the existence of the injunction can be seen, and hence transactions with those wallets will be deterred.
 
Challenges and opportunities
 
     On the other hand, it must be recognised that cryptocurrency may be misused for money laundering and other unlawful or improper behaviour. This is countered by Hong Kong’s existing regulatory and criminal law framework. As digital assets grow in complexity, the law in this area evolves rapidly and demands high technical expertise. I would encourage young barristers to also take part in navigating, shaping, and upholding the law in this evolving field.
 
Hong Kong International Legal Talents Training Academy
 
     Apart from advising policy bureaus, drafting new laws in these areas and prosecuting crimes involving cryptocurrencies, the Department of Justice also puts a great emphasis on capacity building, including for local lawyers through the Hong Kong International Legal Talents Training Academy.
 
     Launched in November last year, the Academy is an important initiative to provide capacity-building, exchanges and knowledge-sharing for professionals from the legal and dispute resolution sectors in Hong Kong, the Chinese Mainland and across the globe. Since its launch, the Academy has organised diverse training programmes in Hong Kong, the Chinese Mainland and abroad.
 
     For instance, it co-organised the “Workshop on Use of International Instruments to Legally Enable End-to-End Digitalization of Trade” with the United Nations Commission on International Trade Law (UNCITRAL) last August where international trade law experts and policymakers from different economies discussed how international law instruments could facilitate a harmonised, legally enabling environment for digitalisation of the whole business lifecycle.
 
     Last week, the Academy hosted the “Legal Practical Training Course for Chinese Enterprises Going Overseas” for 30 legal counsel and compliance officers from state-owned enterprises on the risks encountered by Chinese enterprises going overseas and the applicable compliance strategies with lectures on hot topics including stablecoins and global intellectual property.
 
     This December, the Department of Justice will host its annual flagship event – Hong Kong Legal Week 2025 with the theme “Linking Laws, Bridging Worlds”. The Academy will collaborate with UNCITRAL again to co-organise the 6th UNCITRAL Asia-Pacific Judicial Summit 2025, during which judges, officials, legal experts and scholars across various jurisdictions will explore digitalisation of trade and possibly covering issues relevant to cryptocurrency.
 
     Looking ahead, I anticipate more collaborations with the Bar Association, including the YBC, to further enhance Hong Kong’s legal expertise in these areas. Opportunities for young and future lawyers in the realms of art law and cryptocurrency are abundant. It is imperative that we equip ourselves with the necessary knowledge and skills and proactively seize these opportunities as they arise.
 
     Last but not least, I would like to take this opportunity to invite all those who are eligible to exercise your right to vote in the upcoming Legislative Council General Election on December 7. Your active participation is not simply a valuable exercise on a very important constitutional right; it is also a very important choice that will contribute to the future of our legal system, our legal practice and the rule of law, as well as the general well-being of our society.
 
     On this note, I wish you all a very fruitful and constructive conference this afternoon. Thank you.

Source: Hong Kong Government special administrative region – 4

The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department today (October 31) released the findings of its food safety report for last month. The results of about 6 600 food samples tested (including food items purchased online) were found to be satisfactory except for six unsatisfactory samples that were announced earlier. The overall satisfactory rate was 99.9 per cent.

A CFS spokesman said that about 1 900 food samples were collected for microbiological tests, and about 4 700 samples were taken for chemical and radiation level tests.

The microbiological tests covered pathogens and hygiene indicators; the chemical tests included testing for pesticides, preservatives, metallic contaminants, colouring matters, veterinary drug residues and others; and the radiation-level tests included testing for radioactive caesium and iodine in samples collected from imported food from different regions.

The samples comprised about 1 900 samples of vegetables and fruit and their products; about 500 samples of cereals, grains and their products; about 900 samples of meat and poultry and their products; about 900 samples of milk, milk products and frozen confections; about 800 samples of aquatic and related products; and about 1 600 samples of other food commodities (including beverages, bakery products and snacks).

The six unsatisfactory samples comprised a prepackaged dried porcini sample and a prepackaged black grouper fillet sample detected with metallic contaminants exceeding the legal limit, two dessert samples and a prepackaged shrimp noodle sample detected with preservatives exceeding the legal limit, and a chicken rice sample found to contain Salmonella.

The CFS has taken follow-up actions on the above-mentioned unsatisfactory samples, including informing the vendors concerned of the test results, instructing them to stop selling the affected food items, and tracing the sources of the food items in question, and etc.

The spokesman reminded the food trade to ensure that food is fit for human consumption and meets legal requirements. Consumers should patronise reliable shops when buying food and maintain a balanced diet to minimise food risks.

Separately, in response to the Japanese Government’s discharge of nuclear-contaminated water at the Fukushima Nuclear Power Station, the CFS will continue enhancing the testing on imported Japanese food, and make reference to the risk assessment results to adjust relevant surveillance work in a timely manner. The CFS will announce every working day on its dedicated webpage (www.cfs.gov.hk/english/programme/programme_rafs/daily_japan_nuclear_incidents.html) the radiological test results of the samples of food imported from Japan, with a view to enabling the trade and members of the public to have a better grasp of the latest safety information.

Source: Hong Kong Government special administrative region – 4

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

     The Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Cyberport Management Company Limited (Cyberport), hosted the Generative Artificial Intelligence (GenA.I.) Symposium today (October 31). The event provided a platform for GenA.I. Sandbox participants to share their insights and showcase their GenA.I. innovations through interactive exhibition booths, fostering industry collaboration and knowledge exchange.
 
     The Symposium attracted over 500 practitioners from the banking, insurance and technology sectors, featuring panel discussions with leaders from regulatory bodies, industry association (Note), banks, consultancy firms, and technology firms, who deliberated on the latest developments in GenA.I. and their implications for the financial sector. The event also included fireside chat sessions with virtual avatars discussing future models of co-operation between banking professionals and A.I.. To underscore the topic, the event was powered by A.I. live transcription and translation services and an interactive A.I. photo booth for personalised digital memorabilia.
 
     At the Symposium, the HKMA also presented the Report on the First Cohort of GenA.I. Sandbox. The report summarises key findings from the first cohort, demonstrating GenA.I.’s significant potential to add value in banking, particularly in enhancing risk management, anti-fraud capabilities and customer experience. It also shares technical learnings from trials at Cyberport’s Artificial Intelligence Supercomputing Centre, offering the industry practical guidance on key areas such as model fine-tuning and guardrail implementation for building safer and domain-specific GenA.I. solutions.
 
     The HKMA unveiled a pilot GenA.I. chatbot to provide users with more interactive access to insights and practical guidance from the Sandbox. The chatbot explores the feasibility of deploying a knowledge-bound GenA.I. solution that addresses common concerns such as hallucinations and inaccuracies.
 
     The Chief Executive of the HKMA, Mr Eddie Yue, said, “The first cohort of the GenA.I. Sandbox has explored numerous innovative use cases, providing the banking industry with valuable insights into how A.I. can deliver tangible value for both banks and consumers. The insights have also guided the initiation of Project Noor, in collaboration with the Bank for International Settlements Innovation Hub and other like-minded regulators, with an aim to develop an explainable A.I. toolkit. We look forward to the second cohort, which will further advance the responsible adoption of GenA.I. to future-proof banking services.”

Note: The Fintech Association of Hong Kong

Source: Hong Kong Government special administrative region – 4

     The Government announced today (October 31) that the Oral Health Group will be established under the Primary Healthcare Committee (PHC Committee) of the Primary Healthcare Commission (PHC Commission) tomorrow (November 1). It will advise the Government on the development of oral health and dental care, with a view to implementing the strategy that emphasises prevention, early identification, and timely intervention, thereby further enhancing both oral and general health of citizens of all ages.

     Oral health is an integral part of general health, and preventive oral care is a crucial component of primary healthcare. The Government released the final report of the Working Group on Oral Health and Dental Care and an action plan in December 2024, which includes adopting the strategy of widely promoting prevention-oriented primary oral healthcare among citizens across all age groups, and proposes the establishment of a steering and advisory framework, by setting up the Oral Health Group under the PHC Committee to continuously press ahead with various initiatives. Furthermore, the Chief Executive proposed to bolster public and subsidised dental services in his 2025 Policy Address to enhance oral health education, oral hygiene instructions, risk assessments, and more, in the community.

     Co-chaired by the Commissioner for Primary Healthcare, Dr Pang Fei-chau, and non-official member of the PHC Committee Dr Sigmund Leung, the Oral Health Group comprises four official members and 13 non-official members, with a term of office from November 1, 2025, to December 31, 2027. The non-official members include representatives from the dental profession, the healthcare sector, collaborating non-governmental organisations of government-subsidised dental care programmes, as well as prominent community figures. They possess rich experience and profound knowledge in relevant fields and can provide invaluable advice and recommendations to the Government on strategies for promoting oral health and the development of dental care services. The Oral Health Group will hold its first meeting in the fourth quarter of this year.

     Specifically, the terms of reference of the Oral Health Group are as follows:

(1) To monitor the progress of integrating oral health into primary healthcare;
(2) To monitor the effectiveness of various preventive measures in oral healthcare in attaining the Oral Health Goals for 2030; and
(3) To advise the Government on the further development of prevention-oriented oral healthcare, including the dental manpower supply and the development of eHealth for oral healthcare.

     The membership list of the Oral Health Group is as follows:

Co-chairmen
————
Commissioner for Primary Healthcare
Dr Sigmund Leung Sai-man

Official Members
————————
Deputy Secretary for Health (or representative)
Director of Health (or representative)
Representative of the PHC Commission
Representative nominated by the Hospital Authority

Non-official Members
———————————
Representative nominated by the Faculty of Dentistry, the University of Hong Kong
President (or representative nominated by the President) of the College of Dental Surgeons of Hong Kong
Chairman (or representative nominated by the Chairman) of the Dental Council of Hong Kong
President (or representative nominated by the President) of the Hong Kong Dental Association
President (or representative nominated by the President) of the Hong Kong Dental Hygienists’ Association
Representative nominated by Pok Oi Hospital
Representative nominated by St. James’ Settlement
Representative nominated by the Lok Sin Tong Benevolent Society, Kowloon
Dr Eva Au Tai-kwan
Mr Tim Pang Hung-cheong
Dr Frankie So Hon-ching
Dr Denise Tam Yick-sin
Professor Samuel Wong Yeung-shan

     The PHC Committee was established in 2024 to assist the PHC Commission in effectively performing its functions and exercising its powers. The PHC Committee comprises individuals from different professional backgrounds, including professionals from family medicine, Chinese medicine, dentistry and other professional sectors, bringing together various parties to advise the PHC Commission from multiple perspectives.

Source: Hong Kong Information Services

Southbound Travel for Guangdong Vehicles will initially be open to applications from Guangzhou, Zhuhai, Zhongshan, and Jiangmen in Guangdong Province and approved Guangdong vehicles will enter Hong Kong from December 23.

Chief Executive John Lee expressed gratitude for the staunch support of the central government and the Guangdong Provincial Government in jointly taking forward and realising the Southbound Travel Scheme.

He noted that the Southbound Travel Scheme and Northbound Travel for Hong Kong Vehicles complement each other and are important measures to promote the integrated development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), facilitating mutual engagement between residents of Guangdong and Hong Kong.

Mr Lee highlighted that the Southbound Travel Scheme will also achieve a higher level of mutual flow of people and goods and even open up a new model for Mainland residents to visit Hong Kong, which in turn brings opportunities to such sectors as tourism, retail, and catering in Hong Kong.

Under the strategies of ensuring safety, effective diversion, well-equipped supporting facilities and streamlined application, the Hong Kong Special Administrative Region Government is taking forward the Southbound Travel Scheme in a steady manner, with a view to benefitting Hong Kong residents and society as a whole, as well as sharing the fruitful achievements of the integrated development of the GBA, he added.

Under the Southbound Travel Scheme, eligible and approved private cars from Guangdong may enter Hong Kong directly via the Hong Kong-Zhuhai-Macau Bridge from December 23, starting with 100 vehicles per day for a stay of up to three days per Guangdong vehicle.

Interested applicants must first register for computer-based balloting through Guangdong’s information platform of the Southbound Travel Scheme before formally submitting their applications starting from December 9.

Designated drivers have to hold a valid Hong Kong driving licence, their Guangdong vehicles have to be inspected according to Hong Kong regulations and obtained valid third-party risk insurance.

Also as part of the Southbound Travel Scheme, approved Guangdong vehicles may park at the automated carparks on the artificial island at the Hong Kong Port via the Zhuhai Port of the HZMB, after which the drivers and passengers may transfer to a flight via Hong Kong International Airport or enter into urban area by taking Hong Kong local transportation.

s

The Airport Authority Hong Kong’s (AAHK) automated “Park & Fly” carpark will start operations from 0.00am on November 15.

Providing 1,800 parking spaces for 24-hour automated parking, drop-off and pick-up services, the carparks will be open for application starting from 9am tomorrow.

The AAHK has launched a one-stop booking platform, allowing eligible applicants from Guangdong to book a parking space for each trip on a first-come, first-served basis.

For vehicles with a successful booking, “Park & Fly” travellers having their documents and air tickets verified, will take a bonded bus to the SkyPier Terminal to check in with their baggage, and then proceed directly to the terminal for boarding without going through the Hong Kong immigration clearance in the process.

Upon their return to Hong Kong, travellers will only need to confirm their booking at Transfer Desk E2 in the restricted area of Terminal 1 before proceeding to the SkyPier Terminal to take the bonded bus bound for the “Park & Fly” carpark to retrieve their vehicles.

As for drop-off or pick-up, designated drivers may, in accordance with the respective booking, drive to the “Park & Fly” carpark to transfer to a flight, or from the “Park & Fly” carpark back to the Mainland, without having to use the automated parking system.

To ensure orderly implementation, both parts of the Southbound Travel Scheme will initially be open to applications from Guangzhou, Zhuhai, Zhongshan, and Jiangmen, to be gradually extended to other cities in Guangdong Province after six months.

Source: Hong Kong Government special administrative region

Source: Hong Kong Information Services

The projected private flat supply for the next three to four years is 102,000 units, 1,000 more than the previous estimate.

The Housing Bureau today said there were 26,000 unsold units in completed projects at the end of September.

There were also 62,000 units under construction, excluding those pre-sold by developers; and 14,000 units from disposed sites where construction may start anytime.

The number of flats under construction in the third quarter was 800, while 3,300 units were completed during the period.

Source: Hong Kong Information Services

Chief Executive John Lee today continued his visit to Korea to participate in Asia-Pacific Economic Cooperation (APEC) activities and met leaders from Singapore, the United Arab Emirates (UAE) and the International Monetary Fund (IMF).

In the morning, Mr Lee joined the APEC Economic Leaders’ Informal Dialogue with Guests, in which he said Hong Kong will uphold the rules-based multilateral trading system and promote regional economic co-operation in developing an open, dynamic, resilient and peaceful Asia-Pacific community.

During a meeting with Crown Prince of Abu Dhabi, the UAE, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Chief Executive said Hong Kong’s simple and low tax regime provides an excellent business environment and encouraged more talent, businesses and capital from the UAE and the Middle East to establish a presence in the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone.

In the afternoon, Mr Lee attended the APEC Business Advisory Council Dialogue with APEC Economic Leaders. Hong Kong, China’s representatives to the APEC Business Advisory Council Mary Huen and Geoffrey Kao were also present.

The Chief Executive also met Managing Director of the IMF Kristalina Georgieva and thanked the IMF for consistently reaffirming Hong Kong’s status as an international financial centre

Noting that Hong Kong is one of the world’s major financial centres, he said the city will harness the asset-reallocation wave of global investors to continuously reform its capital markets, facilitate corporate fundraising, enhance market liquidity and promote financial innovation.

Mr Lee met Prime Minister of Singapore Lawrence Wong afterwards. He welcomed Singaporean enterprises to invest in the city’s Northern Metropolis, thereby strengthening co-operation in frontier technology fields and tapping into the Greater Bay Area’s vast market potential.

Source: Hong Kong Information Services

The value of residential mortgage loans approved in September was $31.4 billion, a 9.4% increase compared with August, the Monetary Authority announced today.

Mortgage loans financing primary market transactions increased 17.5% to $12.6 billion, while those financing secondary market transactions rose 6.1% to $15.5 billion.

Loans for refinancing decreased 2.4% to $3.2 billion.

Mortgage loans drawn down during September amounted to $20.9 billion, a 9.7% rise from August.

The number of mortgage applications in September dropped 1.1% month on month to 8,316.

The outstanding value of mortgage loans increased 0.2% month-on-month to $1.8914 trillion at end-September.

Source: Hong Kong Government special administrative region

The Leisure and Cultural Services Department (LCSD) will launch Muse Fest HK 2025 in November, rolling out over 100 fabulous programmes in 17 museums and art spaces. Under the theme of this year’s Festival “Museum Anniversary”, members of the public are invited to join the “birthday parties” of six museums. Furthermore, an opening program, “Fun@Museum Carnival”, is being held to enable participants to deepen their understanding of museums from diversified experiences.
 
The “Museum Anniversary” this year celebrates the anniversaries of six museums, namely the 70th anniversary of the discovery of the Lei Cheng Uk Han Tomb, the 50th anniversary of the Hong Kong Museum of History (MH), the 45th anniversary of the Hong Kong Space Museum (SpM), the 40th anniversary of the Hong Kong Railway Museum (RM), the 25th anniversary of the Hong Kong Heritage Museum (HM) and the first anniversary of the Hong Kong Museum of the War of Resistance and Coastal Defence (MWRCD).
 
The inaugural event of Muse Fest 2025, the “Fun@Museum Carnival”, will be held tomorrow and Sunday (November 1 and 2) at the Hong Kong Cultural Centre Piazza and the creative market at Tsim Sha Tsui, featuring a variety of activities, experiential workshops and stage performances. Admission is free. Apart from the giant board game, “Jumbo Museum Journey”, which allows participants to learn more about the history and characteristics of the six anniversary museums, there are also the “Dazzling Ping Pong Fun” for multiple players; a new variant of ice hockey, “Floor Ball Adventure”; the collaborative Muse Fest street art creation “Collab Art Live”; and the “Classic Times Photo Booth”, where participants can personalise instant retro newspaper and several thematic photo spots. Booths to introduce conservation works, workshops to experience cyanotype and tile paintings will also be available. There are also demonstrations on Hong Kong Intangible Cultural Heritage – namely Hong Kong-style milk tea-making technique, puppetry, female lion dance performances and film screenings. Participants may win mystery blind box gifts by taking part in selected activities at the carnival.
 
This year, the LCSD is collaborating with several local brands to launch IP (intellectual property) products and food items. The “Museum Anniversary Brick Set Edition” created in collaboration with “City Story”, features models of a Cantonese opera bamboo theatre, a diesel electric Engine No. 51, and the Shing Chai Tong Herb Co. They are available for sale at the museums’ gifts shops and designated outlets. The SpM is partnering with Maxim’s Cakes to launch a space-themed snowy BBQ pork pineapple bun, and 1,000 free buns will be given away at the ‘”Fun@Museum Carnival”. The SpM is collaborating with Miramar Group to present a limited-time Stellar Pastry Collection at COCO patisserie at The Mira Hong Kong, interpreting the mysteries of the universe through exquisite pastry artistry. The Intangible Cultural Heritage Office, together with Black & White® and Chrisly Cafe, will provide free tastings of freshly brewed Hong Kong-style milk tea and distribute milk tea coupons.
 
To attract tourist participation, the LCSD is collaborating with the Hong Kong Tourism Board to organise the first-ever free Tsim Sha Tsui Museum x Historical Landmark Guided Tour. The tours, conducted in English and Putonghua, will take visitors to the SpM, the MH, the Hong Kong Museum of Art and famous historical landmarks in the district such as the clock tower, the Star Ferry Pier, the Peninsula Hotel and more.
 
In addition, various museums will host fun days during weekends in November, namely the Dr Sun Yat-sen Museum, the RM, the MH, the MWRCD, the Fireboat Alexander Grantham Exhibition Gallery, the HM, the Oi! art space and the Intangible Cultural Heritage Centre (at Sam Tung Uk Museum), offering a variety of special programmes and booth activities. As a featured attraction, claw machines are available at the six museums celebrating their anniversaries, allowing visitors to grab a special gift in interactive games.
 
Apart from the museums under the LCSD, Muse Fest 2025 continues its partnership with multiple collaborative partners from Hong Kong, Macao and the Chinese Mainland. Participating local arts and culture organisations total 27, and there are also 15 museums from Guangdong and Macao supporting the event as part of the Guangdong-Hong Kong-Macao Greater Bay Area Museum Alliance. Highlights include the “Shenzhen-Hong Kong Hakka ICH – Hakka Architecture Guided Tour & Hehu Xinju 3D Model Workshop”, co-organised by the Intangible Cultural Heritage Office and the Shenzhen Museum. This will be held at the Sam Tung Uk Museum to introduce participants to the essence of Hakka architecture and the related ICH of Shenzhen and Hong Kong. The Shenzhen Museum will also launch the Hong Kong Museum Festival 2025 Shenzhen Branch – “The Beauty of Ingenuity” with a series of free workshops.
　
The Festival will launch a mega publication and souvenir sales, offering up to 50 per cent discounts for selected museum publications and souvenirs, at specific shops. For more details of Muse Fest 2025, please visit the website at: www.museums.gov.hk/mf2025.