Category: MIL-OSI

Chinese New Year Fireworks Display to be held at 8pm on February 18  
     The event is co-ordinated by the Culture, Sports and Tourism Bureau and is sponsored by the Hong Kong Jockey Club. A total of 31 888 firing shells will be discharged in an approximately 23-minute extravaganza. 

     This year’s theme, “Prosperity Gallops Across Hong Kong”, will be presented in eight distinctive scenes. The opening scene, “Galloping into the New Year”, features a high-density burst of fireworks resembling galloping horses charging forward, setting an energetic tone for the show. Following that, layers of shells build up to evoke the grandeur of thousands of horses in motion, symbolising a promising start to the Year of the Horse. In the second scene, “Celebrating the New Spring Together”, the sky above Victoria Harbour will bloom with the number “8” fireworks and golden ingot patterns, conveying wishes for wealth, prosperity, and abundance in the new year. The fourth scene, “Vision of Harmony”, features star-like fireworks drifting across the sky like peaceful horses galloping toward the horizon, symbolising love and hope for the world. This scene concludes with the Chinese character “吉” (meaning “good fortune”), sending blessings to Hong Kong. The grand finale, “Triumphant Achievement”, will feature majestic crown-shaped fireworks followed by a rapid-fire sequence of high-density bursts, delivering best wishes for the prosperity of the nation and good fortune for all.
  
     In addition to the dazzling fireworks, lighting effects will be featured to enhance the overall viewing experience. 
     To enhance their fireworks experience, members of the public are invited to tune into Radio Television Hong Kong Radio 4 (FM 97.6 to 98.9) for synchronised music.
  
     Members of the public are urged to help keep public areas clean and to show respect for public property. They are also urged to show consideration to others to make the event a safe one.
Issued at HKT 15:00

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CEDB and MOC sign MOU on strengthening co-operation and exchange in provision of comprehensive overseas services  
     With the signing of the MOU, the Hong Kong Special Administrative Region (HKSAR) Government and the MOC will strengthen co-operation and exchange in the provision of comprehensive overseas services by leveraging Hong Kong’s unique advantages of enjoying the strong support of the motherland and being closely connected to the world under the “one country, two systems” principle, thereby fostering closer collaboration between Mainland enterprises seeking to go global and Hong Kong professional service providers, and strengthening the capacity of Mainland enterprises in going global. The MOU also supports the Hong Kong Trade Development Council (HKTDC) to develop a professional services platform, pooling together Hong Kong professional service providers in the field of finance, legal and dispute resolution, accounting and audit, testing and certification, etc, to support Mainland enterprises seeking to go global.
 
     Mr Yau thanked the MOC for its continuous support in the investment promotion work of the HKSAR Government. Leveraging Hong Kong’s unique advantages amid the opening up of the country, the HKSAR Government will support Mainland enterprises to go global, further foster investment and trade relations between Hong Kong and the Mainland, and strive to reinforce and enhance Hong Kong’s status as an international trade centre.
 
     Mr Yau said, “The country is implementing a high-level strategy of two-way opening up to encourage Mainland enterprises to go global. The MOC is spearheading the implementation of the related work in the provision of comprehensive overseas services. As a ‘super connector’ and a ‘super value-adder’, Hong Kong can help Mainland enterprises expand businesses abroad and overcome challenges encountered in the process. The Commerce and Economic Development Bureau has set up the Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force) to co-ordinate cross-bureau, cross-departmental and cross-organisation work to provide one-stop go global support. The GoGlobal Task Force will make use of various channels to promote to target Mainland enterprises the advantages of using Hong Kong as a springboard to go global. It will also provide tailored services according to the needs of the enterprises to support their overseas expansion through Hong Kong.”
 
     Mr Yau added, “The HKTDC is currently developing a cross-sectoral platform, which assembles Hong Kong professional service providers from different fields to match them with different Mainland enterprises based on their needs, thereby supporting the enterprises to establish a foothold in Hong Kong and then expand their businesses overseas. The platform will also bring more business opportunities to the Hong Kong professional service providers and increase the influence of Hong Kong professional services locally and internationally. The GoGlobal Task Force will co-ordinate the organisation of different promotional events on the Mainland and Hong Kong, and will identify and attract enterprises to go global via Hong Kong.”
 
     In his 2025 Policy Address, the Chief Executive announced the establishment of a one-stop platform by mobilising Hong Kong’s overseas offices, including those under Invest Hong Kong and the HKTDC, as well as Hong Kong offices on the Mainland, and has set up the cross-bureau, cross-departmental and cross-sectoral GoGlobal Task Force to proactively attract Mainland enterprises to go global via Hong Kong. Since its inception last October, the GoGlobal Task Force has worked closely with relevant Mainland authorities and progressively formulated and implemented relevant work.
 
     Mr Yau concluded his visit this afternoon and will return to Hong Kong this evening.
Issued at HKT 16:00

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GCMTI specialist awarded title of “Qi Huang Young Scholar” – sharing Hong Kong’s expertise to serve nation (with photo)      
     The NATCM selects around 100 Chinese medicine practitioners, scholars and researchers across the country every three years. Candidates must be under 45 years old, demonstrate high professional standards, and show capabilities in preserving tradition and driving innovation in Chinese medicine. It nurtures and supports these scholars in conducting pioneering research in Chinese medicine. This year, two scholars from the Hong Kong Special Administrative Region (HKSAR) were honoured with the title: Dr Wong and Professor Lisa Xian, Assistant Professor of the School of Chinese Medicine, the Chinese University of Hong Kong. The Director of Health, Dr Ronald Lam, extended his heartfelt congratulations to both recipients.
          
     Dr Wong has served in the DH for nine years. Dr Lam said, “Dr Wong has devoted herself to the micro-morphological identification of Chinese medicines (CM), combining the strengths of traditional macroscopic techniques with modern microscopic identification methods. Her work has enabled the GCMTI to establish an innovative, practical, and accurate identification system that helps the industry authenticate genuine CM and promotes their safe use. Her selection as a ‘Qi Huang Young Scholar’ from numerous applicants nationwide not only affirms her outstanding research achievements but also underscores the HKSAR’s potential to become an international centre for CM testing and quality control. The GCMTI, which commenced services in phases late last year, is equipped with state-of-the-art facilities that will undoubtedly provide greater support for Dr Wong’s research endeavours in the future. Leveraging Hong Kong’s strengths, she will contribute to serving the country’s needs and, together with the GCMTI’s scientific team, advance the development of Chinese medicine for the health and well-being of all.”
      
     Expressing her gratitude, Dr Wong said she is deeply honoured to be nominated by the DH and selected nationally as a “Qi Huang Young Scholar”. She acknowledges the huge responsibilities that come with the title and looks forward to collaborating with fellow scholars to conduct innovative research under the NATCM’s guidance, contributing to the inheritance and advancements of Chinese medicine in the country. She also aspires to further elevate the research capacity in Chinese medicine in Hong Kong and promote co-operation between the HKSAR and the Chinese Mainland.
      
     Since its establishment, the GCMTI has aligned closely with the national strategy for developing Chinese medicine, adopting a three-pronged approach of “technologies, standards and talents” to drive high-quality development in Chinese medicine. Dr Wong firmly believes that the GCMTI will continue to inject new momentum into the sector, serving as a vital support for Chinese medicine’s global advancement and better integrating into the country’s overall development.
      
     The GCMTI brings together experts from multiple disciplines and has long been committed to establishing internationally recognised reference standards and testing methods for CM. By promoting technology transfer, it has enhanced the quality control and identification capabilities of the CM industry and testing sector. The GCMTI has gained widespread recognition in the industry and internationally, particularly for establishing Hong Kong’s leading position in the field of micro-morphological identification of CM.
      
     Micro-morphological identification involves using instruments or high-power magnifying glasses to observe minute surface features of CM that are difficult or impossible to discern with the naked eye (see Annex). These features serve as identification criteria, supplementing traditional macroscopic identification methods. For CM with similar morphology, micro-morphology provides additional distinguishing features to differentiate visually similar species. To promote the use of this simple, easy and cost-effective micro-morphological identification, the GCMTI has conducted specific research in this area and developed practical identification methods tailored for real-world applications to address challenges commonly encountered by the industry.
      
     With the phased commissioning of its permanent building since late last year, the GCMTI’s advanced technology and equipment will further enhance the development of CM’s testing methods and standards, supporting the comprehensive, high-quality development of Chinese medicine in Hong Kong.
Issued at HKT 16:20

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Speech by CE at Consensus Hong Kong 2026 (English only) (with video)      
Mr Michael Lau (Chairman of Consensus), Mr Tom Farley (Chief Executive Officer of Bullish Group), Mr Jay Yarow (President of CoinDesk), industry leaders and innovators, distinguished guests, ladies and gentlemen,
      
     Good morning, and welcome to Hong Kong. It is my pleasure to join you today at Consensus Hong Kong 2026.
      
     This is a key platform that brings together Web3 leaders from around the world to discuss, and shape, the future of the Web3 ecosystem. I would like to begin by thanking CoinDesk for returning to Hong Kong, hosting this iconic conference once again after last year’s success. Your choice underscores Hong Kong’s distinct advantages. It also helps to show the world our growing prominence, as a global hub for Web3 and crypto innovation.
      
     Hong Kong is the world’s freest economy and one of its three major international financial centres. Under the unique “one country, two systems” principle, Hong Kong is the only city that converges both the China advantage and the global advantage. We have a long tradition of the rule of law, a judiciary that exercises its power independently, and a common law system that is similar to many financial hubs around the globe. Hong Kong has an open and transparent market, and we enjoy the free flow of capital and a low and simple tax regime.
      
     What’s more, Hong Kong’s financial regulatory system is robust, and our financial market stands out for its deep liquidity, innovative products and world-class investor protection. As the only city in the world that counts as many as five universities in the global top 100, Hong Kong boasts a highly educated workforce, and a welcoming environment for global talent.
      
     These, and many other advantages, have helped to make Hong Kong the world’s number three in global competitiveness, and number four in the World Talent Ranking and World Digital Competitiveness Ranking.
      
     With this unparalleled positioning, Hong Kong has consistently served as a platform that brings together international capital, talent and information, continuing to expand our global markets and reach.
      
     The world of Web3 and digital assets carries with it vast potential. They help to realise more efficient financial transactions, at a lower cost and with more inclusive options. The HKSAR (Hong Kong Special Administrative Region) Government is committed to establishing Hong Kong as a global hub for innovation in digital asset. That’s why over the past few years, Hong Kong has been actively building the regulatory framework to promote the steady, and sustainable, development of our Web3 ecosystem.
      
     Last June, the HKSAR Government issued the Policy Statement 2.0 on the Development of Digital Assets in Hong Kong. It sets out a vision for a trusted and innovative digital asset ecosystem – one that prioritises risk management and investor protection, while delivering concrete benefits to the real economy and financial markets.
      
     I’m pleased that a lot of our initiatives in the area are in good progress. One key initiative is our implementation of the Stablecoins Ordinance last August. This new law provides for a licensing regime for issuers of fiat-referenced stablecoins in Hong Kong. The Hong Kong Monetary Authority is actively processing licensing applications, and we believe the first batch of stablecoin issuer licences will be issued within next month.
      
     Meanwhile, our Securities and Futures Commission announced last year the “ASPIRe” roadmap, its plan for regulating Hong Kong’s virtual asset (VA) market. We have since implemented a series of measures to boost liquidity of the VA market, and expand VA product offerings and services. All for the purpose of facilitating the development of this vibrant area of growth.
      
     Ladies and gentlemen, Hong Kong is in a strong position in promoting Web3 development. Hong Kong will continue to go all out to stay at the forefront of this pivotal shift in finance and technology. We welcome companies and institutions from around the world to join hands with us, and build a brighter digital future together.
      
     On that note, I wish you all a fruitful conference these two days. Do remember to take some time to experience the life and culture of Hong Kong, Asia’s world city. With the advent of the Lunar New Year, I wish you a healthy and prosperous Year of the Horse. Thank you.      
Issued at HKT 10:30

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Hong Kong Customs inspects Lunar New Year Fairs (with photo)     ​
     Members of the public may report any suspected infringing activities to Customs 24-hour hotline 182 8080 or its dedicated crime reporting email account (crimereport@customs.gov.hkIssued at HKT 16:35

Hong Kong Customs alerts public to one model of unsafe toy truck (with photo)      Customs is committed to the protection of consumer interests and regularly conducts spot checks and safety tests on toys and children’s products to ensure that they are reasonably safe for use by consumers.

     Under the TCPSO, it is an offence to supply, manufacture or import unsafe toys or children’s products. The maximum penalty upon conviction is a fine of $100,000 and imprisonment for one year on first conviction, and a fine of $500,000 and imprisonment for two years on subsequent conviction.Issued at HKT 17:00

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Speech by SFST at Inaugural Family Office Forum “Stewardship in the Chinese Context: Family, Legacy, Future” (English Only) 
Zhou Li (Deputy Editor-in-Chief of China Daily), ladies and gentlemen, distinguished guests,
 
     Good morning. It is a great privilege to address you today at this Inaugural Family Office Forum. As we work together to position Hong Kong as Asia’s premier strategic hub for family offices, we recognise the profound interplay in the Chinese context between family wealth, legacy building, and future planning. Here, wealth stewardship extends beyond financial growth to embrace social responsibility, intergenerational harmony, and lasting impact. Hong Kong is committed to fostering an ecosystem that supports sustainable, responsible, and enduring wealth preservation for families worldwide.
 
     Hong Kong has long been a leading global wealth management centre. As of the end of 2024, total assets under management in our asset and wealth management sector surpassed HK$35 trillion, with more than 54 per cent originating from outside Hong Kong and the Mainland. The private banking and private wealth management business linked to family offices and private trusts reached HK$1,551 billion. Hong Kong ranks as Asia’s largest cross-border wealth management centre, and holds the second position in private equity capital under management in Asia after the Mainland. These strengths create a natural, robust platform for family offices to manage, protect, and grow their wealth effectively.
 
     With a long history of expertise in private wealth management, underpinned by the rule of law, world-class professional services, and unparalleled connectivity, Hong Kong is ideally positioned as a trusted base for global high-net-worth families establishing or expanding family offices. Globally, over 2.3 million individuals have a net worth exceeding US$10 million, with more than 36 per cent in Asia. Recent data shows Hong Kong hosts the highest number of ultra-high-net-worth individuals in Asia – over 17 000 – making us a magnet for talent and capital in this space.
 
     In March 2023, we issued the Policy Statement on Developing Family Office Businesses in Hong Kong, outlining targeted measures to build a competitive and supportive ecosystem. These include, among others, a tax concessions regime, the New Capital Investment Entrant Scheme (New CIES), and the establishment of the Hong Kong Academy for Wealth Legacy. As of end-January this year, the New CIES has received over 3 000 applications, with potential investments exceeding HK$90 billion if all approved. More than 1 600 applications have been formally approved, with investments in equities, debt securities, certificates of deposit, eligible collective investment schemes, limited partnership funds, and real estate with certain restrictions in place.
 
     Invest Hong Kong’s dedicated FamilyOfficeHK team provides one-stop support for family offices seeking to establish or expand in our market. By the end of last year, the team had assisted more than 200 family offices to set up or grow their presence in Hong Kong.
 
     Building on this momentum, market research just revealed yesterday that Hong Kong now hosts over 3 300 single family offices, an increase of over 25 per cent over a two-year period. We achieved our 2022-25 target of facilitating at least 200 family offices to set up or expand in Hong Kong ahead of schedule. Looking forward, as we plan to further develop the sector, we aim to attract at least 220 more family offices to establish or expand operations here from 2026 to 2028, broadening our reach to include more markets, for example Europe, the Middle East and ASEAN (Association of Southeast Asian Nations). Beyond investments, family offices contribute substantially through other economic and social channels. It is estimated that single family offices in Hong Kong collectively contribute about HK$12.6 billion annually to the local economy through operating expenditure alone, and that they directly employ over 10 000 full-time professionals within their operations.
 
     Over the past two years, proactive promotion and supportive policies have made family offices a vital pillar of Hong Kong’s financial ecosystem. The city offers a unique blend of top-tier professional services, an exceptional quality of life, and leadership in emerging areas such as green and sustainable investments, art, culture, and philanthropy. We will continue refining our measures – including further expansion of scope for qualifying investment for the preferential tax regimes offered to funds and single-family offices, covering for example precious metals, loans and private credit investments, and digital assets – to maintain this strong growth trajectory.
 
     Combined with Hong Kong’s absence of capital gains tax and estate duty, our tax concession enables families to enhance after-tax returns, preserve wealth across generations, and direct more resources toward philanthropy, legacy-building, and innovative investments. As Asia’s leading cross-border wealth hub, Hong Kong provides unmatched tax certainty and access to diverse opportunities.
 
     We have intensified global outreach through roadshows in the Mainland, Europe, and ASEAN. We are also extensively featured in international media, and conduct direct engagement with ultra-high-net-worth individuals. Our flagship Wealth for Good in Hong Kong Summit has been a major success. The March edition last year, themed “Hong Kong of the World, for the World”, brought together influential family office principals to explore technology, artificial intelligence, philanthropy, succession planning, and cultural innovation. Preparations are underway for the next Summit in March this year to sustain this momentum, and reinforce Hong Kong’s status as the premier global family office hub.
 
     In closing, we warmly invite family offices from around the world to join us in Hong Kong. By leveraging our unique advantages – connectivity to the Mainland and the world, robust infrastructure, and a commitment to stewardship – we can together honour family legacies while shaping a prosperous, sustainable future.
 
     Thank you.
Issued at HKT 10:33

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TD to implement special arrangements for licence renewals before and after Budget Day             “Eligible licence holders do not need to rush to the Licensing Offices to submit renewal applications for their vehicle or driving licences on speculation that their fees may increase in the Budget. The special arrangements are not related to the content of the Budget, about which the TD has no information,” a spokesman for the TD said.
 
Note: For electric private cars, the present rate refers to the licence fee structure and levels effective from November 1, 2025. Since the Government provides a four-month grace period fee arrangement for eligible vehicle owners, if their vehicle licences expire on or before February 28, 2026, they may be renewed on or before the licence expiry date at the old fee level in effect before November 1, 2025.
Issued at HKT 11:00

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Hong Kong Customs combats traders supplying shortweight Chinese New Year products     ​
     Members of the public may report any suspected violations of the WMO to the Customs 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hkIssued at HKT 12:45