Category: MIL-OSI

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

     Following is the speech by the Acting Secretary for Justice, Dr Cheung Kwok-kwan, at the Reception of 215th Anniversary of the Declaration of Independence of Mexico today (September 11):

Ambassador Macedo (Consul General of Mexico in Hong Kong, Mr Pablo Macedo Riba), Deputy Commissioner Pan (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region Mr Pan Yundong) , ladies and gentlemen, 

Source: Hong Kong Information Services

Kwun Tong Magistrates’ Courts today handed down a review decision, accepting the Government’s application for review of an earlier court sentence and increasing the fines imposed on the relevant contractors. The Labour Department welcomes the decision.

The case involved a fatal accident that occurred on December 14, 2022, at a construction site in Yau Tong. A worker, while dismantling an I-beam, was struck and killed by the suddenly collapsed I-beam.

Aggressive Construction Engineering, High Grade Engineering and a contractor were prosecuted by the department for violations of the Factories & Industrial Undertakings Ordinance and its subsidiary regulations, and were fined $36,000, $43,000 and $35,000 respectively at Kwun Tong Magistrates’ Courts on October 31, 2024.

After the sentencing, the Government filed a review application with the court regarding the fines imposed on the relevant contractors.

The review hearing was brought up today before the Kwun Tong Magistrates’ Courts. The fines imposed on Aggressive Construction Engineering, High Grade Engineering and the contractor were increased to $74,000, $79,000 and $74,000 respectively.

The department said that the ruling reflects the severity of occupational safety and health offences, and will disseminate a clear message to all contractors that they have to protect workers’ safety and health at work in accordance with the laws.

The Government will continue to pay attention to court rulings and will file review applications for cases where the sentences are relatively light.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region – 4

The Correctional Services Department (CSD) today (September 11) held the Desistance from Crime: Correctional Research and Practice Professional Seminar to disseminate the latest research findings in correctional psychology and to explore strategic directions for future rehabilitation and crime prevention work, with the participation of over 100 members of the rehabilitation services sector and scholars.

Since February 2024, the Correctional Rehabilitation Research Unit of the CSD, in collaboration with the Department of Psychology of the Chinese University of Hong Kong (CUHK), has commenced a research initiative on desistance from crime. The research involved interviews and focus group discussions with 51 rehabilitated persons and 60 persons in custody, covering different groups including adults, adolescents, males and females. Through in-depth analysis, the research summarised desistance journeys of local rehabilitated persons and key factors to desist from crime.

The Research Professor of the Department of Psychology of the CUHK, Professor Patrick Leung, presented the research findings at the seminar. He said that, through rehabilitation services, addressing rehabilitated persons’ inner needs for care and personal competence with a positive approach was found conducive to their rehabilitation and supportive of their desistance from crime. The research identified three key factors in rehabilitation, namely offering diverse learning opportunities, expanding positive social support networks, and nurturing and sustaining personal competence, self-identity and constructive interpersonal relationships. The research also indicated that the CSD’s rehabilitation programmes not only help reduce recidivism among rehabilitated persons, rebuild their law-abiding identity and reconnect them with society, but also support them in giving back to society, thereby gradually transforming their lives.

Senior Clinical Psychologist of the CSD Dr Yvonne Lee stated that the research findings affirmed the effectiveness of the rehabilitation work of the CSD and brought insights for future development. Drawing on the findings, the CSD will advance strength-based rehabilitation strategies and reinforce the role of correctional officers as rehabilitation facilitators, while actively extending its rehabilitation services from correctional institutions to the community and supporting rehabilitated persons in giving back to society.

At the seminar, a clinical psychologist of the CSD introduced an innovative community-based rehabilitation initiative based on the theory of desistance from crime – “Human Library: Desistance from Crime”. This pioneering initiative combines narrative therapy with a four-panel comic to showcase the life stories of rehabilitated persons, encouraging reflections on their past, disengagement from criminal behaviours and the cultivation of a positive lifestyle, thereby rewriting their futures. Furthermore, the Department arranged for a rehabilitated person to share his experiences in participating in psychological treatment programmes and his desistance journey. Dr Lee and Professor Leung also exchanged views with participants on the research findings, rehabilitation services and the directions for future development.

Upholding the spirit of moving with the times and evidence-based practice, the CSD will continue to organise academic events to actively promote collaboration and exchanges with members of the rehabilitation services sector and scholars to advance professional development and innovation of rehabilitation work through scientific research.

Source: Hong Kong Government special administrative region – 4

     Following is the keynote speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme Showcase Seminar today (September 11):
 
Eric (Chief Public Mission Officer of the Hong Kong Cyberport Management Company Limited, Mr Eric Chan), distinguished guests, ladies and gentlemen,
 
     Good morning. It is my pleasure to join you today at the Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme Showcase Seminar for celebrating the results of the Scheme and exchanging views on the development of green and sustainable fintech. First of all, I would like to thank Cyberport for their efforts in promoting the development of a green fintech ecosystem in Hong Kong, which includes a well-supported green fintech community to mutually share expertise and knowledge, with various opportunities for companies to test out innovative ideas and concepts as well as cross-sector collaborations. Today’s Seminar exactly provides a vibrant platform bringing together key stakeholders and market participants to chart the way forward for further accelerating the development of green fintech in Hong Kong.
 
Hong Kong as Asia’s leading green finance centre
 
     The financial market serves as a vital conduit for channelling international capital towards sustainable initiatives that support the green transition. As Asia’s leading sustainable finance hub, Hong Kong has a significant role to play in this endeavour. In 2024, the volume of green and sustainable bonds arranged in Hong Kong amounted to around US$43 billion, capturing around 45 per cent of the regional total and ranking first in the Asian market for seven consecutive years since 2018. Besides, as of June 2025, the number of environmental, social and governance (ESG) funds authorised by the Securities and Futures Commission was over 200 with assets under management of over HK$1.1 trillion. The number of ESG funds and assets under management recorded an increase of 51 per cent and 18 per cent respectively from three years ago.
 
     To further strengthen our competitive advantage, a key priority is to position Hong Kong as a green fintech hub. Green fintech, which seamlessly combines our strengths in green finance and fintech, has immense potential to drive the transformation of the green economy. Over years of development, Hong Kong has developed a dynamic fintech ecosystem, with over 1 100 fintech companies, many of which are engaged in green or ESG-related businesses.
 
Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme
 
     The Government is keen to support the development of green fintech and launched the Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme in June last year. This initiative provides early-stage funding to technology companies and research institutes engaged in green fintech activities, enabling them to collaborate with local enterprises on new projects that address industry pain points. The Scheme supports the commercialisation of solutions and the completion of proof-of-concept stages, facilitating the wider adoption of green and sustainable fintech solutions within Hong Kong’s business landscape. We are glad that 60 projects, covering a wide range of areas including green and digital finance and investment; ESG disclosure; compliance and regulatory reporting; carbon trading, analytics and technology; ESG data, intelligence and analytics; and ESG/climate risk modelling and assessment, have been approved under the Scheme. Stay tuned for the showcase sessions today, which will highlight the innovative green and sustainable fintech solutions funded under this Scheme.
 
Hong Kong Green Fintech Map
 
     Apart from funding support, we also see the need to raise the profile and visibility of our green fintech companies. In March last year, we published the Prototype Hong Kong Green Fintech Map, which serves as a one-stop resource for information on the current status of green fintech companies in Hong Kong and the services they offer. An updated version of the Map was released in June this year, with an increase in the total number of green fintech companies from around 50 to over 60.
 
Innovative green investment products
 
     In parallel with cultivating the green fintech ecosystem, we also well utilise green fintech to foster product innovation and development. Among the green bonds issued by the Government, we introduced two batches of tokenised green bonds, which represented the world’s first government tokenised green bond and the world’s first multi-currency digital bond respectively. These initiatives highlight Hong Kong’s strengths in integrating the bond market, green and sustainable finance, and fintech. Both issuances featured multiple innovations, including a shortened settlement cycle to T+1. The second issuance also broadened investor access, supported interoperability, and improved transparency and efficiency. These initiatives provide benchmarks and references for potential issuers in the market. The Government will regularise the issuance of tokenised bonds, and the Hong Kong Monetary Authority (HKMA) is preparing to assist the Government in issuing its third tokenised bond.
 
     Regarding the carbon market, the HKMA and the HKEX (Hong Kong Exchanges and Clearing Limited) are collaborating on Project Ensemble to experiment with the feasibility of using tokenised deposits and central bank digital currency for interbank settlements, and to explore the feasibility of tokenising real-world assets, including carbon credits, using blockchain technology.
 
Technology to support sustainability reporting
 
     As global awareness of sustainable development continues to rise, we are keen to support enterprises in utilising data and technology tools for sustainability reporting. We launched a free-for-use greenhouse gas emissions calculation and estimation tool in February last year, which aims to help corporations in need to manage their environmental footprint while encouraging market participants to enhance their sustainable practices. The tool outlines its methodology and data sources, incorporating elements from both Hong Kong and the Mainland. To further encourage sustainability disclosures and improve data applicability, we will continue to collaborate with various stakeholders to facilitate better sustainability disclosures through the use of this tool.
 
Use of artificial intelligence to address sustainability challenges
 
     Artificial intelligence (AI) is currently a trending topic. A study last year found that the adoption of GenAI (generative artificial intelligence) is progressing steadily across the financial services industry in Hong Kong, with 75 per cent of the surveyed financial institutions having already implemented at least one GenAI use case, or currently piloting and designing use cases and exploring potential investment areas. One example of the applications is using AI to manage greenwashing risk. They attempt to achieve this by conducting thorough analyses of the climate impact of their activities, tracking progress towards emission targets, and generating evidence-based climate reports that encompass progress, engagements, and outcomes.
 
     In view of the trending application of AI technology, we issued a policy statement in October last year to introduce our policy stance towards the responsible application of AI in the financial market. Since the policy statement was issued, we have introduced various initiatives to assist the financial institutions in seizing the opportunities and adopting AI responsibly, including publishing practical guidelines, launching sandbox schemes, as well as organising seminars and talks for practitioners.
 
     Ladies and gentlemen, we are committed to working closely with tech firms, research institutes, financial institutions, and other stakeholders to foster co-creation partnerships, accelerate commercial adoption, and strengthen Hong Kong’s sustainable finance ecosystem. Together, we can embrace innovation and create a sustainable future. I wish you all a fruitful and inspiring day. Thank you.

Source: Hong Kong Government special administrative region – 4

     The total gross value of construction works (GVCW) performed by main contractors in the second quarter of 2025 remained virtually unchanged in nominal terms compared to the same period a year earlier, standing at $68.9 billion, according to the provisional results of the Quarterly Survey of Construction Output released today (September 11) by the Census and Statistics Department (C&SD).
 
     After discounting the effect of price changes, the provisional results showed that the total GVCW performed by main contractors decreased by 3.5% in real terms over the same period. GVCW in real terms is derived by deflating the corresponding nominal value with an appropriate price index to the price level in the base period of 2000.
 
     Analysed by type of construction works, the GVCW performed at private sector sites totalled $17.2 billion in the second quarter of 2025, down by 18.6% in nominal terms over a year earlier. In real terms, it decreased by 20.9%. The GVCW performed at public sector sites increased by 15.0% in nominal terms over a year earlier to $31.2 billion in the second quarter of 2025. In real terms, it increased by 11.6%.
 
     The GVCW performed by main contractors at locations other than construction sites amounted to $20.5 billion in the second quarter of 2025, slightly down by 0.7% in nominal terms compared with a year earlier. In real terms, it decreased by 3.6%.  Construction works at locations other than construction sites included minor new construction activities and decoration, repair and maintenance for buildings; and electrical equipment installation and maintenance works at locations other than construction sites.
 
     Analysed by major end-use group, the GVCW performed at construction sites in respect of residential buildings projects amounted to $21.3 billion in the second quarter of 2025, up by 3.2% in nominal terms over a year earlier. Over the same period, the GVCW performed at construction sites in respect of transport projects down by 16.5% in nominal terms to $8.1 billion in the second quarter of 2025.
 
     On a seasonally adjusted quarter-to-quarter basis, the GVCW performed by main contractors decreased by 2.9% in nominal terms and 3.6% in real terms in the second quarter of 2025 compared with the first quarter of 2025.
 
     Table 1 shows the provisional figures on the GVCW performed by main contractors in the second quarter of 2025. Table 2 shows the revised figures for the first quarter of 2025.
 
     Owing to the widespread sub-contracting practices in the construction industry, a construction establishment can be a main contractor for one contract and a sub-contractor for another contract at the same time. The GVCW performed by main contractors covers only those projects in which the construction establishment takes the role of a main contractor, but not projects in which it takes only the role of a sub-contractor. However, sub-contractors’ contribution to projects should have been included in the GVCW performed by main contractors for whom they worked.
 
     The classification of construction establishments follows the Hong Kong Standard Industrial Classification Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.
 
     More detailed statistics are given in the “Report on the Quarterly Survey of Construction Output”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1090002&scode=330).
 
     For enquiries about the survey results, please contact the Construction and Miscellaneous Services Statistics Section of the C&SD (Tel: 3903 6965; email: building@censtatd.gov.hk).