Source: Hong Kong Government special administrative region
LCQ12: Advance medical directives Question:
The Advance Decision on Life-sustaining Treatment Ordinance (the Ordinance), which was passed by this Council on November 20 last year, aims to establish legislative frameworks for “advance medical directives” (AMDs) and “do-not-attempt cardiopulmonary resuscitation (DNACPR) orders” and provide legal protection to patients, medical professionals, as well as rescuers, where terminally-ill patients are empowered with a greater degree of autonomy. However, a survey has discovered that approximately 75 per cent of adult respondents have never heard of AMDs. There are views that given the complex medical ethics and legal issues involved in the Ordinance, the Government should enhance public awareness of the Ordinance and establish supporting systems in the long run. In this connection, will the Government inform this Council:
(1) whether it knows the respective numbers of AMDs signed by and DNACPR orders issued to patients of the Hospital Authority each year since 2019;
(2) whether the Government has currently provided necessary training for frontline staff of medical institutions and relevant organisations regarding the implementation of the Ordinance; if so, of the details; if not, the reasons for that; whether it knows the progress made by relevant stakeholders in updating their protocols, records and systems in response to the implementation of the Ordinance;
(3) given that the Ordinance will come into effect in May next year, whether the Government has formulated specific plans to publicise the importance and signing procedure of AMDs among the public; if so, of the details (including publicity channels); if not, the reasons for that;
(4) whether the authorities will consider strengthening life and death education among the public, and incorporating the content of the Ordinance into such education (particularly by updating the existing curriculum framework for primary and secondary schools) to promote rational discussions in society over the right to a good death; if so, of the details; if not, the reasons for that; and
(5) given that the Government plans to progressively introduce the full electronic route of AMDs, with the Electronic Health Record Sharing System (eHealth) serving as the designated electronic system to support the making, storage, revocation and retrieval of electronic AMDs, of the authorities’ specific plans and implementation timetable for the relevant work?
Reply:
President,
The Government’s policy objective is to provide quality and comprehensive end-of-life (EoL) care services to patients and their families. Advance decision instruments (i.e. advance medical directives (AMDs) and do-not-attempt cardiopulmonary resuscitation (DNACPR) orders) are integral components of EoL care, aiming to respect patients’ autonomy and shield them from enduring ineffective and unnecessary treatments in their final stages of life, thereby enhancing the quality of life of terminally-ill patients. Since 2010, the Hospital Authority (HA) has been allowing its patients to make or sign advance decision instruments when necessary according to common law practices. Passed by the Legislative Council in November 2024, the Advance Decision on Life-sustaining Treatment Ordinance (the Ordinance) establishes a corresponding legal framework for and provides clearer legal status for advance decision instruments, safeguarding the makers and subject patients of advance decision instruments, as well as providing legal protection for healthcare professionals in following the directives and orders. The Ordinance is planned to take effect 18 months after its passage (i.e. around mid-2026).
In consultation with the Department of Health (DH), the HA, the Education Bureau and the Security Bureau, the reply to the question raised by Hon Edward Leung is as follows:
(1) According to the Ordinance, pre-existing advance decision instruments made before the commencement of the Ordinance will remain valid and applicable after its commencement, provided that they meet the specific conditions set out in the Ordinance. The number of AMDs made within the HA from 2019 to 2024 is tabulated as follows:
Year The number of DNACPR orders made within the HA from 2019 to 2024 is tabulated as follows:
Year(2) To ensure smooth implementation of the Ordinance, the Health Bureau (HHB) is arranging briefing and training sessions for relevant organisations, such as disciplined services departments and other rescue teams, regarding the legal framework and protection provisions outlined in the Ordinance. The HHB is also co-ordinating with various stakeholders to update relevant guidelines. For instance, the Hong Kong Academy of Medicine released the “Best Practice Guidelines on Advance Medical Directives” (BPG) in April this year. The BPG offers practical advice on clinical decision-making, doctor-patient communication and ethical considerations for healthcare professionals’ reference, with a view to enhancing their professional capabilities in handling advance decision instruments while upholding patients’ autonomy and complying with the legal framework of the Ordinance. Moreover, relevant policy bureaux, departments, the HA and other related organisations are currently formulating services and operational guidelines in alignment with their specific operational needs. These guidelines will among other things encompass protocols and precautions for implementing DNACPR orders outside hospital settings. Training sessions will also be conducted for rescue personnel to ensure their readiness to make prompt and accurate decisions in accordance with the legal requirements during emergencies.
(3) and (4) To enhance public understanding of the Ordinance, the HHB, in collaboration with the Jockey Club End-of-Life Community Care Project (JCECC) and the Faculty of Social Sciences of the University of Hong Kong, co-organised a series of eight community talks to elucidate the provisions of the Ordinance. Additionally, the HHB further disseminated information about the Ordinance to the general public through promotional pamphlets, mobile van publicity campaigns and a designated website.
In fact, advance decision instruments under the Ordinance form part of advance care planning (ACP), which is an overarching and preceding process for patients to communicate their preferences regarding medical and personal care. The scope of ACP includes not only the advance decisions concerning life-sustaining treatments documented in AMDs, but also the patient’s previously expressed wishes, personal goals to be accomplished, preferences for EoL care, and treatment expectations, among other aspects. The Ordinance presents an opportunity for patients and their families, as well as the society as a whole, to understand and engage in discussions about ACP, enabling carers to provide suitable EoL care according to patients’ wishes.
By fostering collaboration across departments and sectors, the Government is proactively implementing a range of public education and promotional initiatives within the community and establishing collaborative networks with social service organisations to enhance public awareness and understanding of topics like ACP and life and death education, thereby facilitating rational discussions on life and death matters within society. The DH also disseminates public education on life and death issues through various channels including media interviews, websites, publications, and online videos. In the meantime, the HA actively organises seminars, events, and talks on life and death education, including the advocacy of ACP concept.
Beyond promotional campaigns targeting the general public, the Government has also implemented other targeted promotional initiatives. Specifically tailored for the elderly population, the multidisciplinary Visiting Health Teams of the Elderly Health Service (EHS) of the DH deliver health education on ageing, life and death education, managing loss and grief, and psychological needs of patients needing EoL care. These health talks are conducted for the elderly and their carers at residential care homes for the elderly, elderly centres and elderly health centres. From 2008 to 2025, the EHS has organised over 2 600 relevant health talks.
As for patients, the HA’s “Smart Patient Website” provides diverse information related to palliative care, such as symptom management, caregiving tips and community resources for patients and carers to reference. In mid-2025, the HA will launch a “Smart Patient” talk series on EoL care for patient groups and the general public.
In the context of school education, life education (including life and death education) is an integral part of values education. The Values Education Curriculum Framework (Pilot Version) (2021) has identified “enhancing life education” as one of its major focuses and has included “understanding the course of life: birth, ageing, illness, and death” as one of the suggested proposed learning expectations for students. Relevant learning elements have been incorporated into the primary and secondary school curricula. Schools will align with students’ cognitive development and life experiences to help them understand topics related to ACP both within and beyond classroom.
(5) The Ordinance provides that the Secretary for Health may designate an electronic system, enabling makers to electronically make, store and revoke AMDs. The HHB is currently enhancing eHealth, which will serve as the designated electronic system, to support the implementation of AMDs.
We will introduce electronic AMDs in phases. In the first phase, paper AMDs and the electronic storage of such AMDs will be implemented. After making a paper AMD, the public can opt to electronically store an electronic image of the paper AMD, such as a scanned copy or a photo, on eHealth to serve as a validating copy of the paper directive. The electronic storage will allow both the makers and medical institutions to access the directives through eHealth whenever needed. We plan to launch the first phase with the commencement of the Ordinance in mid-2026. Once the relevant functions of eHealth, along with the electronic systems of medical institutions and related organisations, are in place, we will proceed to enable the electronic making and storing of AMDs directly within eHealth. Issued at HKT 16:00
Source: Hong Kong Government special administrative region
Post-office employment for former politically appointed official The Advisory Committee considers and advises on the post-office employment or appointments for former politically appointed officials. In considering each case, the Advisory Committee has regard to the information provided by the former politically appointed official concerned, the assessments by relevant government bureaux or offices, and the criteria for advice as stipulated in the guidance notes on post-office employment for politically appointed officials. Mr Simon Ip Sik-on (Chairman) Mrs Margaret Leung Ko May-yee Mr Cheng Yan-kee Ms Lo Wing-sze Dr Miranda Lou Lai-wah Issued at HKT 16:00
Lt Gen JP Mathew relinquished the appointment of the Chief of Integrated Defence Staff (CISC) on April 30, 2025 upon the culmination of nearly four decades in service. On the day of his superannuation, he laid a wreath at the National War Memorial, New Delhi and paid homage to the fallen heroes. He was also accorded a ceremonial Tri-Service Guard of Honour at the South Block lawns.
The General Officer had been holding the appointment of CISC since April 2023, promoting jointness and synergy among the three Services. Lt Gen Mathew has made significant contributions in the expansion of Defence Cyber Agency and Defence Space Agency towards achieving credible capability in these critical domains. He also encouraged deeper collaboration with the Indian defence industry and academia, reflecting the Government’s Aatmanirbhar Bharat vision. From steering major reforms and reviewing the curriculum in the Defence Service Staff College of Defence Management, Military Institute of Technology and National Defence Academy to encouraging participation of women, he was instrumental in enhancing diversity and inclusion in the Armed Forces.
In order to maintain defence cooperation with neighbouring countries and promote regional stability & security, Lt Gen Mathew represented the Indian Armed Forces in various fora. In addition, he was instrumental in enhancing the Armed Forces’ Humanitarian Assistance & Disaster Relief capabilities.
Commissioned into the Punjab Regiment in December 1985, the General Officer became the Colonel of the Regiment on January 09, 2022. For his illustrious services, he was conferred with Param Vishisht Seva Medal, Uttam Yudh Seva Medal, Ati Vishisht Seva Medal and Vishisht Seva Medal.
Source: Hong Kong Government special administrative region
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced the results of the residential mortgage survey for March 2025.
The number of mortgage applications in March increased month-on-month by 29.3 per cent to 8 456.
Mortgage loans approved in March decreased by 5.3 per cent compared with February to HK$24.7 billion. Among these, mortgage loans financing primary market transactions decreased by 16.8 per cent to HK$10.1 billion and those financing secondary market transactions increased by 6.2 per cent to HK$11.6 billion. Mortgage loans for refinancing decreased by 0.9 per cent to HK$3 billion.
Mortgage loans drawn down during March decreased by 9.6 per cent compared with February to HK$15.9 billion.
The ratio of new mortgage loans priced with reference to HIBOR decreased from 94 per cent in February to 90.4 per cent in March. The ratio of new mortgage loans priced with reference to best lending rates increased from 2.4 per cent in February to 3.2 per cent in March.
The outstanding value of mortgage loans increased month-on-month by 0.1 per cent to HK$1,877.7 billion at end-March.
The mortgage delinquency ratio stood at a low level of 0.13 per cent and the rescheduled loan ratio was unchanged at nearly 0 per cent.
Source: Hong Kong Government special administrative region
The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (April 30) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.8 per cent in March 2025. Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 1.6 per cent and 0.1 per cent respectively in March. In the first quarter of 2025, total deposits and Hong Kong dollar deposits increased by 3.5 per cent and 5.1 per cent respectively. Renminbi deposits in Hong Kong decreased by 7.3 per cent in March to RMB959.8 billion at the end of March, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,184.0 billion in March, compared with RMB1,064.1 billion in February. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.
Total loans and advances increased by 1.1 per cent in March, and increased by 0.6 per cent in the first quarter of 2025. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 1.2 per cent and 0.8 per cent respectively in March. The Hong Kong dollar loan-to-deposit ratio decreased to 72.3 per cent at the end of March from 73.5 per cent at the end of February, as Hong Kong dollar deposits increased while Hong Kong dollar loans decreased.
For the first quarter of 2025 as a whole, loans for use in Hong Kong (including trade finance) increased by 0.5 per cent after decreasing by 0.1 per cent in the previous quarter. Analysed by economic use, loans to financial concerns increased, while loans to building, construction, property development and investment decreased.
Hong Kong dollar M2 and M3 both increased by 1.5 per cent in March, and both increased by 7.7 per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 0.8 per cent in March and increased by 7.0 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.7 per cent in March. Compared to a year earlier, total M2 and total M3 both increased by 10.8 per cent.
As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.
Source: Hong Kong Government special administrative region
Following is a question by the Hon Yung Hoi-yan and a written reply by the Secretary for Commerce and Economic Development, Mr Algernon Yau, in the Legislative Council today (April 30):
Question:
It has been reported that the global Muslim population currently exceeds 2 billion, representing about 25 per cent of the world’s total population. Based on the State of the Global Islamic Economy Report 2022 released by DinarStandard in 2023, Muslims spent US$2.29 trillion in 2022 on, among others, food, pharmaceuticals, cosmetics, fashion and travel, and the global Islamic finance assets are expected to reach US$5.96 trillion by 2026. There are views that Hong Kong should expand its share of the international halal market in the countries along the Belt and Road, and strengthen industrial co-operation with the relevant countries. Regarding the development of the halal market, will the Government inform this Council:
(1) whether it has kept information on the Gross Domestic Product (GDP) contributed to Hong Kong by the halal industry; if so, of the respective GDP generated in Hong Kong in each of the past five years by the products or industries in the halal market (i.e. (i) food and beverages, (ii) pharmaceutical and health products, (iii) cosmetics, (iv) fashion, (v) hotel and tourism, and (vi) financial services); if not, whether it has plans to compile statistics and keep the relevant information from now on;
(2) whether it has kept information on Hong Kong enterprises which have exported goods to Muslim countries; if so, of the number of Hong Kong enterprises which have exported goods to Muslim countries in each of the past five years, the types of their goods and the respective GDP involved; if not, whether it has plans to compile statistics and keep the relevant information from now on;
(3) whether it knows if the products currently re-exported through Hong Kong can be sold in the relevant Muslim countries after being certified by the Incorporated Trustees of the Islamic Community Fund of Hong Kong in accordance with Islamic law and procedures; if so, of the details; if not, what channels are available for such re-exported products to be sold in Muslim countries; and
(4) whether it has plans to introduce a “halal certification system” and conduct mutual recognition of halal certification with major Muslim countries, so as to become a core corridor for certification and trade between related Mainland production enterprises and the halal consumer market, thereby promoting a steady growth in the trading volume of halal products in Hong Kong; if so, of the details; if not, the reasons for that?
Reply:
President,
Upon consulting the Culture, Sports and Tourism Bureau and the Financial Services and the Treasury Bureau, the consolidated reply to the Hon Yung Hoi-yan’s question is as follows:
Emerging markets such as the Middle East, the Association of Southeast Asian Nations (ASEAN) and other countries along the Belt and Road (B&R) have been the Government’s valued trade and economic partners. These countries’ economic development is growing rapidly and their markets possess vast potential, alongside enormous population of Muslims. The Government has been actively encouraging various sectors of society to seize business opportunities in these markets, so that they can develop in areas such as trade, tourism and finance and provide products and services tailored to the needs of these emerging markets, including the Muslim population therein.
According to the information provided by the Census and Statistics Department (C&SD), the total value of Hong Kong’s domestic exports to Muslim countries (Note) increased from HK$2.7 billion in 2020 to HK$5.5 billion in 2024 whilst the total value of Hong Kong’s re-exports to Muslim countries increased from HK$178.8 billion in 2020 to HK$215.8 billion in 2024, recording an average annual growth rate of about 19.0 per cent and 4.8 per cent respectively in the past five years. The values of Hong Kong’s domestic exports and re-exports to individual Muslim countries in the past five years are at Appendices 1 and 2 respectively. Amongst others, major commodities of Hong Kong’s domestic exports to Muslim countries include “beverages”, “jewellery, goldsmiths’ and silversmiths’ wares, and other articles of precious or semi-precious materials” and “petroleum, petroleum products and related materials”, whilst major commodities of Hong Kong’s re-exports to Muslim countries include “telecommunications and sound recording and reproducing apparatus and equipment”, “electrical machinery, apparatus and appliances, and electrical parts thereof” and “office machines and automatic data processing machines”. The C&SD does not separately maintain information about the number of companies in Hong Kong exporting products to Muslim countries nor the relevant value of gross domestic product.
Besides, although the “halal industry” does not have standard international industrial classifications like the retail and the catering industries rendering it impossible to draw up corresponding statistical coverage of the “halal industries” for compiling relevant information, the Government has been actively encouraging various sectors of society to seize opportunities in these halal markets, including promoting developments in areas such as trade, tourism and finance.
In terms of trade, meeting the requirements for relevant halal product certifications and understanding the opportunities and challenges within the relevant markets are crucial. In this regard, the Hong Kong Trade Development Council (HKTDC) has been conducting research on individual key halal markets to understand their latest developments, and providing practical information to Hong Kong businesses, including the information on relevant product certification bodies. Furthermore, the HKTDC has also been providing various platforms to promote business opportunities in the halal market. For example, the HKTDC has been promoting different high-quality halal products and food, as well as related trading of products, at its annual Food Expo PRO to help the catering industry to expand its network and businesses. To assist Hong Kong enterprises in grasping the opportunities of the halal food market and facilitate buyers in procurement, the HKTDC introduced the Halal Showcase and added halal food and beverage labels to relevant exhibitors in the 2024 Food Expo PRO. The event also offered different seminars, explaining the requirements of halal food certification and analysing market opportunities and challenges, in order to promote multi-faceted business opportunities relevant to halal food to the businesses.
In 2025-26, the HKTDC will arrange for local halal food manufacturers to participate in its Food Expo PRO to strengthen their collaboration with other halal food markets, as well as set up relevant pavilions at the Food Expo PRO to showcase more halal food and products and further explore Islamic business opportunities.
At the same time, the Government strives to assist Hong Kong enterprises in developing more diversified markets and enhancing their competitiveness through various funding schemes and support measures. Among others, the Dedicated Fund on Branding, Upgrading and Domestic Sales provides funding support for enterprises to develop business in 40 economies with which Hong Kong has signed free trade agreements and/or investment promotion and protection agreements (IPPAs), including seven Muslim countries. Also, the SME Export Marketing Fund provides funding support for enterprises to participate in export promotion activities, promoting appropriate products and services to the Muslim population in markets outside Hong Kong.
The Government will continue to actively explore emerging markets, including ASEAN, the Middle East and markets along the B&R, which have large Muslim population. The Government has been actively visiting ASEAN Member States to maintain close communication. For example, from 2022 to 2024, the Chief Executive led delegations to visit seven ASEAN Member States, concluding nearly 90 memoranda of understanding (MOU) and agreements, which helped create business opportunities for Hong Kong and strengthened friendships between the two places. The Government has also been actively reaching out to potential partners in the region, and signed an IPPA with Bahrain in March 2024, which is the third IPPA signed with economies in the Middle East region after the ones with Kuwait and the United Arab Emirates. At the same time, we are exploring the signing of IPPAs with Saudi Arabia, Bangladesh, Egypt and Peru.
In view of the huge economic potential of the countries along the B&R (including those with large Muslin population), Invest Hong Kong (InvestHK) set up consultant offices in Cairo, the capital of Egypt, and Izmir, the third largest city in Türkiye, within 2024-25 according to the 2023 Policy Address and 2024-25 Budget. This will be beneficial to attracting capital and enterprises from these two member states of the Organisation of Islamic Cooperation and seizing relevant business opportunities.
In respect of tourism, the Chief Executive stated in the 2024 Policy Address that the Government would actively develop visitor sources from the Middle East and ASEAN which have large Muslim population to seize opportunities. It is estimated that by 2028, there will be 250 million Muslim visitors worldwide and tourism receipts will reach US$225 billion.
To encourage the travel trade to enhance Muslim-friendly tourism facilities, the Hong Kong Tourism Board (HKTB) has commissioned the internationally recognised halal travel promotion company CrescentRating since 2024 to carry out a series of work to study how Hong Kong can further enhance its “Muslim-friendly” tourism facilities, and assess local hotels, attractions and meetings, incentive travels, conventions and exhibitions (MICE) venues based on categories and standards on par with international benchmarks while taking into account Hong Kong’s actual situation. As at mid-April this year, 61 hotels, and five attractions and MICE venues have successfully applied for and obtained the ratings from CrescentRating.
Besides, to encourage restaurants to obtain halal-related certification, the HKTB works with local halal certification authority, the Incorporated Trustees of the Islamic Community Fund of Hong Kong (Board of Trustees, BOT), to promote existing accreditations in the city and encourage food and beverage establishments to apply for certification. As at mid-April this year, the number of certified restaurants has increased from about 100 at the beginning of 2024 to more than 170, which also include high-end Chinese restaurant, Cantonese restaurant and contemporary Hong Kong-style noodle restaurants. In addition, four brands in the city are now offering halal-certified bakery products to provide more choices of souvenirs for Muslim visitors.
Regarding financial services, the Government amended the laws in 2013 and 2014 to provide a tax structure for sukuk comparable with that for conventional bonds, and to allow for the issuance of sukuk under the Government Bond Programme. Thereafter, the Government issued three sukuk, totalling US$3 billion, under the Government Bond Programme, to demonstrate the viability of Hong Kong’s finance platform and that our legal, regulatory and taxation framework can readily support sukuk issuances of different structures. Besides, an array of Islamic financial products and services have been introduced in Hong Kong, including the listing of global sukuk on the Hong Kong Exchanges and Clearing Limited (HKEX), Shariah-compliant equity indices and Islamic banking windows. Asia’s first exchange-traded fund (ETF) tracking the Saudi Arabia market was also listed on the HKEX in November 2023.
In the area of investment co-operation, the Hong Kong Monetary Authority signed an MOU with the Public Investment Fund of Saudi Arabia (PIF) to jointly anchor a new investment fund of US$1 billion to facilitate companies with nexus to Hong Kong and the Greater Bay Area to develop their business in Saudi Arabia. The Government will continue to expand market development efforts, including promoting the advantages of Hong Kong’s financial system and market, so as to explore further collaboration with Islamic markets in the area of finance.
Note: The “Muslim countries” as mentioned in this reply refer to the 57 Members of the Organisation of Islamic Cooperation.
Source: Hong Kong Government special administrative region
Provisional financial results for year ended March 31, 2025 Expenditure and revenue for the year ended March 31, 2025 amounted to HK$753.2 billion and HK$564.9 billion respectively, resulting in a deficit of HK$80.3 billion after taking into account HK$130 billion received from issuance of Government Bonds and repayment of HK$22 billion principal on Government Bonds.
Expenditure and revenue for the year were 3 per cent (HK$23.7 billion) and 10.8 per cent (HK$68.1 billion) lower than the original estimate respectively.
The consolidated deficit for the year was HK$80.3 billion, i.e. HK$6.9 billion lower than the revised estimate of HK$87.2 billion. Revenue was HK$5.3 billion (1 per cent) higher than expected, mainly attributable to stamp duties ($5.9 billion higher) and salaries tax ($0.9 billion higher). Expenditure was HK$1.5 billion (0.2 per cent) lower than the revised estimate mainly due to lower-than-expected requirements.
The fiscal reserves stood at HK$654.3 billion as at March 31, 2025.
A Government spokesperson said that these are provisional figures pending the final closing of the annual accounts. According to experience, any changes to the provisional figures are unlikely to be significant.
March 31, 2025 HK$ millionMarch 31, 2025 HK$ millionand repayment of Government Bondsissuance of Government BondsGovernment Bonds*and repayment of Government BondsGovernment Debts as at March 31, 2025 (Note 3) HK$299,344 million Debts Guaranteed by Government as at March 31, 2025 (Note 4) HK$127,472 million
TABLE 2. FISCAL RESERVES (PROVISIONAL)
March 31, 2025 HK$ millionMarch 31, 2025 HK$ millionissuance and repayment of Government Bonds(Note 5)Notes:
1. This Account consolidates the General Revenue Account and the following eight Funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at March 31, 2025, was HK$225,261 million. (i) the Green Bonds (equivalent to HK$194,375 million as at March 31, 2025) issued under the Government Sustainable Bond Programme. They were denominated in US dollars (US$9,950 million with maturity from January 2026 to January 2053), euros (4,580 million euros with maturity from February 2026 to November 2041), Renminbi (RMB34,000 million with maturity from June 2025 to July 2054) and Hong Kong dollars (HK$42,000 million with maturity from May 2025 to October 2026);
(ii) the Infrastructure Bonds (equivalent to HK$50,177 million as at March 31, 2025) issued under the Infrastructure Bond Programme. They were denominated in Renminbi (RMB13,500 million with maturity from December 2025 to November 2034) and Hong Kong dollars (HK$35,730 million with maturity from November 2025 to March 2045); and
(iii) the Silver Bonds with nominal value of HK$54,792 million (with maturity in October 2027 and may be redeemed before maturity upon request from bond holders) issued under the Infrastructure Bond Programme.
They do not include the outstanding bonds with nominal value of HK$176,340 million and alternative bonds with nominal value of US$1,000 million (equivalent to HK$7,778 million as at March 31, 2025) issued under the Government Bond Programme with proceeds credited to the Bond Fund. Of these bonds under the Government Bond Programme (including Silver Bonds with nominal value of HK$96,340 million, which may be redeemed before maturity upon request from bond holders), bonds with nominal value of HK$6,500 million were repaid upon maturity on April 14, 2025; bonds with nominal value of HK$68,590 million will mature within the period from May 2025 to March 2026 and the rest within the period from April 2026 to May 2042.Issued at HKT 16:30
Union Minister of State for Education and Development of the North Eastern Region, Dr. Sukanta Majumdar, inaugurated a two-day National Workshop on Multi-Disciplinary Education and Research Universities (MERU) under Pradhan Mantri Uchchatar Shiksha Abhiyan (PM-USHA) today at ICAR, New Delhi. Secretary, Department of Higher education, GoI, Dr. Vineet Joshi; Additional Secretary, Ministry of Education, Shri Sunil Kumar Barnwal;Chairman, AICTE, Prof. T G Sitharam; Chair Person, NETF, Prof. Anil Sahasrabudhe; Former Chairman, UGC, Prof. M. Jagadesh Kumar; and other dignitaries and Vice chancellors of the Universities were present at the event. Joint Secretary, Ministry of Education, Shri Armstrong Pame, presented the Vote of Thanks.
Dr. Sukanta Majumdar, while addressing the event, highlighted the importance of NEP 2020, which empowers the youth, modernizes institutions, and blends India’s ancient wisdom with modern innovation. Through focused efforts on research, innovation, and international collaboration, NEP 2020 aims to equip India’s students with the skills and knowledge needed to meet global challenges, he added.
He noted that with the participation of over 64 Vice Chancellors from over 64 different universities, along with State officials represented by State Project Directors of Higher Education, the national workshop will provide essential guidance on how best to implement various elements of the NEP in collaboration with central and state government funding. Dr. Majumdar also said that for 35 universities, the Ministry is providing Rs. 100 crore each for implementing 44 mandatory activities under the Multidisciplinary Education and Research University (MERU) components. He urged everyone to move forward with commitment and collaboration to realize the dream of a Viksit Bharat by 2047, where every university becomes a hub of innovation, inclusion, and global excellence.
Dr. Vineet Joshi, in his speech, emphasised the importance of NEP 2020 in preparing students for the 21st century. He also highlighted the significance of research in higher educational institutes and urged the participants to learn and adopt best practices from other institutions, replicating them in their specific context. This collaborative approach, he noted, will ensure the rapid improvement of the country. He also emphasised the need for teaching-learning material in the mother tongue to achieve better outcomes.
During this two-day seminar twelve important sessions will be held on UGC Regulations for NEP Implementation (Status and Challenges); Clustering and Collaboration for Multidisciplinary Education; Holistic Education through Integration of Skilling and Industry Connect (NHEQF, NCrF); Employability through apprenticeship & internship and Future of Work and Courses in Emerging Areas; Digital Initiatives (SWAYAM, SWAYAM-Plus, SATHEE, APAAR, AI); Equity and Access to Higher Education; Indian Knowledge System; e-Governance (SAMARTH); Research, Innovation & Internationalization; Promoting Indian Languages in Higher Education; Malaviya Mission Teacher Training Program – Capacity Building of Faculty of Higher Education; and Providing Quality Education: Accreditation and Ranking (NAAC, NIRF, IQAC). Eminent academicians and officials will share their insight in these sessions.
PM-USHA, or Pradhan Mantri Uchchatar Shiksha Abhiyan, is a centrally sponsored scheme launched by the Indian Ministry of Education to improve the quality of higher education in state-run institutions. It aims to enhance accessibility, equity, and excellence in higher education while ensuring efficiency, transparency, accountability, and responsiveness.
The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) (Base: 1986-87=100) decreased by 3 points & 2 points, for the month of March 2025, falling to 1306 and 1319 points, respectively.
The year-on-year inflation rates based on CPI-AL and CPI-RL for March 2025 were recorded at 3.73% and 3.86%, respectively, compared to 7.15% and 7.08% in March 2024. The corresponding figures for February 2025 stood at 4.05% for CPI-AL and 4.10% for CPI-RL.
All India Consumer Price Index (General and Group-wise):
Director General David Cheng-Wei Wu was honoured to present Certificates of Appointment to the newly appointed OCAC Honorary Consultants, including Senior Advisers, Council Members, Advisers, and Associate Advisers of the Overseas Community Affairs Council, R.O.C. (Taiwan).
Guided by the core principles of unity, harmony, and generational continuity, the government aims to integrate the strength of global overseas Taiwanese communities to form #TeamTaiwan in response to growing international political and economic challenges.
We look forward to working hand in hand with all OCAC Honorary Consultants in Sydney to further strengthen the solidarity of the Taiwanese community, deepen Taiwan–Australia ties and contribute to Taiwan’s vision of becoming “A Country Where the Economic Sun Never Sets” .