MIL Asia Pacific Publishing Engine

Source: Hong Kong Government special administrative region

Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Unlocking Capital for Sustainability 2025 – Hong Kong forum today (March 27):
 
Distinguished guests, ladies and gentlemen,
 
Good morning. It is a great honour of mine to address you all at this Unlocking Capital for Sustainability 2025 – Hong Kong forum. I must say, you come at the right time, because this is a rather eventful week for Hong Kong, in a positive sense. This week, we have called it the Wealth and Investment Mega Event Week. Apart from this forum, there are also a number of key forums, including our Wealth for Good in Hong Kong Summit, the World Economic Forum event for green sustainability in finance, and also HSBC Global Investment Summit. And of course, not to mention those hosted by Eco-Business, as mentioned by Junice (Managing Partner, Head of China, Eco-Business, Ms Junice Yeo) just now.
 
Welcome, and at the same time, we are more than happy to see all of you. Because in my role, normally I go to these forums where people talk about competition of other cities in the region or regionally and globally. But green and sustainability is a topic where I see more collaboration than competition, and everyone coming here with smiling faces, despite on an early morning. So it’s good that we all come together and discuss an issue that is so pertinent to all of us, not just for now, but for future generations.
 
So as highlighted by the video just now, the urgency of advancing sustainable finance really demands collective action, and today’s discussions will undoubtedly contribute meaningfully to this global imperative. As we convene, we are reminded of the profound responsibility we all share in accelerating the global transition to a sustainable future. The stakes have never been higher, nor has the opportunity been greater for financial services and also financial centres like Hong Kong. As a premier international financial centre, Hong Kong occupies a unique position in mobilising cross-border investments to address climate and sustainability challenges. Our markets, regulatory frameworks, and connectivity with global capital flows position us uniquely and also not merely as a gateway, but as a catalyst for scaling green and transition finance across Asia and beyond.
 
Hong Kong’s leadership in sustainable finance
 
In the coming few minutes, I would like to highlight in terms of what we are doing in Hong Kong and what we plan to do to contribute to this leadership role in sustainable finance. We stand at the forefront of Asia’s sustainable finance movement. Our financial ecosystem has evolved significantly in recent years and become a beacon for green and sustainable investments. As an international financial centre like Hong Kong, we are positioned to contribute significantly on this regard. As of end-December last year, there are more than 220 ESG (environmental, social and governance) funds in Hong Kong authorised by our regulator, with AUM (assets under management) of around HK$1.2 trillion. This represents a remarkable increase of 136 per cent in the number of funds and a 15 per cent rise in assets from just three years ago.
 
Our stance as a strategic nexus for green finance in Asia is central to advancing global sustainability objectives. Last year, the total green and sustainable debt (including both bonds and loans) issued in Hong Kong exceeded US$84 billion. Among which, the volume of green and sustainable bonds arranged in Hong Kong amounted to around US$43 billion, ranking first in the Asian market for seven consecutive years, and also capturing around 45 per cent of the regional total. This accomplishment solidifies our position as the region’s premier platform, to scale climate-positive investments and also underscore our dedication to foster a robust green finance ecosystem.
 
Strategic development of green finance infrastructure
 
     The financial market functions as a dynamic channel to direct cross-border investments into impactful climate-aligned projects, accelerating worldwide efforts to achieve net-zero transitions. The Government has been instrumental in driving this momentum. Since 2019, we have successfully issued government green bonds totalling HK$220 billion equivalent under our Government Green Bond Programme, including retail, institutional, and tokenised bonds of multiple currencies (Hong Kong dollar, Renminbi, US dollar and Euro) and tenors. This initiative has not only funded our local green projects, but also established critical benchmarks for the market. We have expanded the scope of the programme to cover sustainable projects since May last year, and the programme has been renamed as the Government Sustainable Bond Programme. This expansion demonstrates our enhanced commitment to support green and also sustainable initiatives locally.
 
To further catalyse green financing activities, we launched the Green and Sustainable Finance Grant Scheme three years ago. As of early March this year, this initiative has already supported over 540 debt instruments with grants exceeding HK$320 million, facilitating a total underlying debt issuance of around HK$1.2 trillion. It now has been extended by three years again to 2027 and the scope of subsidies is expanded to cover transition bonds and loans, supporting industries in their decarbonisation efforts.
 
Building robust market infrastructure is critical to aligning global capital with climate solutions. In October 2022, Hong Kong took a pioneering step to launch Core Climate, an international carbon marketplace developed by the HKEX (Hong Kong Exchanges and Clearing Limited), which is a stock exchange group, offering quality carbon credits from internationally certified projects in Asia, South America and West Africa, covering forestry, solar, wind, and also biomass initiatives. It is currently the only carbon marketplace in Hong Kong that offers both Hong Kong dollar and Renminbi settlement, and of course it is regarded as unique in the world that offers these dual currencies for the trading of international voluntary carbon credits. This platform is designed to facilitate transparent, efficient trading of carbon credits and instruments, directly supporting the world’s transition to net zero.
 
In August last year, our Stock Exchange announced the inclusion of Gold Standard’s Verified Emission Reductions on the Core Climate platform, complementing the existing Verified Carbon Standard by Verra. As at the end of last year, the platform had attracted 100 registered participants, which is a testament to our growing influence as a trusted hub for climate finance.
 
In the video I saw just now, we have a counterpart in Indonesia which is doing something similar and it is exactly something we want to do, try to foster regional collaboration in the context of the carbon credit market. And this infrastructure not only strengthens our role as a regional carbon trading hub, but also bridges capital with transformative climate projects worldwide. By connecting investors to certified initiatives across continents, Core Climate exemplifies our commitment to scalable, accountable solutions for a sustainable future.
 
Pioneering transparency and accountability
 
In that regard, a recent transaction, which is major, is the purchase by Cathay Pacific of around 50 000 tonnes of carbon credits on our Core Climate. So hopefully when you travel, you are also contributing to that despite creating a carbon footprint. Transparency is a key topic, and also at the same time is the bedrock of market integrity. With increasing global awareness of sustainable development, it is essential that our investors have access to accurate and also relevant information. I am sure on that regard, companies like AIA are well aware of that. We in Hong Kong are very much committed to aligning our international best practices in our sustainability reporting and we issued the roadmap on sustainability disclosure in Hong Kong in December last year which charts a clear path for our large publicly accountable entities to adopt the International Financial Reporting Standards (IFRS) – Sustainability Disclosure Standards by 2028. This roadmap not only demonstrates our firm commitment to the global green transformation but also provides transparent and also clear guidance for market participants and enables Hong Kong to align with international standards in the field of sustainable finance.
 
Actually I went to the UN (United Nations) Geneva headquarters to share our commitment in that regard and I must say it’s something very well received among many of the delegates over there. Furthermore, we recognise the need for a clear taxonomy to classify green activities, which is essential to promote understanding and also facilitate green finance flows. The Hong Kong Taxonomy for Sustainable Finance, which was published in May last year, aligns with the two mainstream taxonomies of the Mainland and the European Union and provides a clear framework for defining green activities. It currently encompasses 12 economic activities under four sectors, namely power generation, transportation, construction, and also water and waste management, ensuring a wide coverage in the net-zero transition.
 
Accelerating innovation and green fintech
 
This document is rather a living document, just with its constant review in terms of whether and how we should extend it to other economic activities as appropriate. To better integrate fintech with green finance, and accelerate the green transformation of the economy, we will actively expand the green fintech ecosystem and develop Hong Kong as a green fintech hub. Launched in March last year, the Prototype Hong Kong Green Fintech Map provides one-stop information on the current status of green fintech companies in Hong Kong and their related services, and is targeted to raise the companies’ profile in such a way that for investors and people like all of you from afar, if you’re looking for collaboration in the green fintech space in Hong Kong, you know which companies to reach out and also to discuss. The official map, to be published in the first half of this year, is being developed with the industry and will further elevate Hong Kong’s profile as a green fintech hub.
 
In addition to these initiatives, we are committed to further harnessing technology to bridge finance and also sustainability. In June last year, we launched the Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme to provide early-stage funding to support technology companies or research institutes. We are offering support to conduct green fintech activities and also collaborate with local enterprises to co-develop new projects addressing industry pain points. The scheme has already approved support for 60 innovative projects, demonstrating our commitment to facilitating development of technological solutions and tackling industry challenges. And for the companies here, they are definitely welcome to participate in this subsidy programme where we provide money, so long as you come up with meaningful projects with our fintech companies.
 
Cultivating a future-ready workforce
 
Last but not least, about technology and also finance, it’s about talent. It’s about all of you. And that indeed is a fundamental role that has been in our plan to advance Hong Kong’s leadership in sustainable finance. To this end, the Government launched the Pilot Green and Sustainable Finance Capacity Building Support Scheme in December 2022. This three-year initiative was designed to empower professionals, market practitioners, students, and graduates in relevant disciplines to deepen their expertise in this critical field.
 
Under the scheme, individuals who complete eligible programmes or attain relevant qualifications can apply for a subsidy of up to HK$10,000. As of mid-March 2025, there are 87 eligible programmes, which are provided by the professional and continuing education schools of our local universities, professional institutions, international training providers, etc, and a list of eligible programmes will continue to be updated.
 
The response has been overwhelmingly positive. To date, we have approved over 6 400 applications, disbursing reimbursements totalling approximately HK$35.8 million. This reflects not only the growing demand for green finance expertise but also our community’s commitment to upskill for the sustainable future. Recognising the long-term importance of talent development, in the recent Budget announced, we extended the scheme to the year through 2028. And this extension underscores our commitment to cultivate a world-class workforce capable of driving innovation and also maintain Hong Kong’s competitive edge as Asia’s green finance hub.
 
Concluding remarks
 
Before I conclude, I am just wondering if any of you have taken advantage of that programme and also get our subsidy? Oh, we have someone here. So do share your experience with the people at the table and also in this forum. Last but not least, just to conclude, the path to sustainability requires unwavering commitment, innovation and collaboration. Hong Kong is proud to stand with all of you as a partner in this critical journey, and we pledge to remain the bridge connecting global ambition with actionable solutions.
 
Through partnership, we can unlock the capital needed to build a greener future for Hong Kong and also beyond, and a more resilient future for generations to come. I look forward to hearing your inside experiences, and more importantly, apart from talking about green finance, do experience Hong Kong in terms of our art scene, our natural landscape and others, and carry these stories with you when you go back to wherever you are from. Thank you.

Source: Hong Kong Government special administrative region

​Hong Kong Customs yesterday (March 26) detected a case involving possession of etomidate, the main ingredient of the “space oil drug”, which is under the Dangerous Drug Ordinance, by an incoming passenger at the Lok Ma Chau Spur Line Control Point. Nine suspected “space oil drug” capsules and one vape stick were seized.
 
A 25-year-old male passenger arrived in Hong Kong from Shenzhen yesterday. During Customs clearance, nine suspected “space oil drug” capsules and one vape stick were found on him and his baggage. The man was subsequently arrested. The arrested person, who claimed to be a student, has been released on bail pending further investigation.
 
Customs will continue to step up enforcement and stringently combat against trafficking of the “space oil drug”.
 
Under the Dangerous Drug Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
 
Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour report hotline 182 8080 or its dedicated crime reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Source: Hong Kong Government special administrative region

The Lands Department (LandsD) today (March 27) launched a 3D Visualisation Map of Hong Kong Island, New Territories Southwest and New Territories East, along with a 3D Indoor Map with coverage extended to the whole territory of Hong Kong and selected MTR stations, providing more comprehensive spatial data to the public. Released in phases since 2022, the 3D Digital Maps has now achieved full coverage of the territory.
 
The 3D Visualisation Map of Hong Kong Island, New Territories Southwest and New Territories East covers around 122 000 buildings and about 3 300 infrastructure facilities including flyovers, footbridges and subways. Additionally, around 30 selected MTR stations are covered in the 3D Indoor Map, offering information on points of interest and a supporting indoor point-to-point pedestrian routing service within the stations. In combination with some 200 buildings included in the 3D Indoor Map of Kowloon East, Kowloon Central and Kowloon West released last year, the territory-wide 3D Indoor Map now covers around 600 buildings, including government and private buildings, community facilities and hospitals, providing information on their interior spaces and points of interest. The data facilitates the development of innovative indoor data applications, such as location-based services, tourism and indoor navigation.
 
     The “Streetscape 360” feature of the 3D Visualisation Map offers 360-degree street-level panoramic images and a measurement function, with coverage now extended from Kowloon, Lantau and New Territories Northwest to include Hong Kong Island and the entire New Territories.
 
The datasets of the abovementioned 3D Digital Maps, relevant application programming interface and sample codes are available on the Common Spatial Data Infrastructure Portal (portal.csdi.gov.hk) and the online application platform “Open3Dhk” (3d.map.gov.hk) for free download by the public, as well as to facilitate the development of web services and smart applications by the innovation and technology sector and academia.
 
     The LandsD will continuously update the 3D Digital Maps to provide up-to-date information with a view to promoting smart city development.

Source: Hong Kong Government special administrative region

​Invest Hong Kong (InvestHK) announced today (March 27) that an independent wealth management advisor, Jadewell Family Office, has officially opened its headquarters in Hong Kong, leveraging the city’s robust financial ecosystem and dynamic growth of the family office sector to offer one-stop-shop financial advice to its clients.
 
Associate Director-General of Investment Promotion at InvestHK Mr Arnold Lau said, “Hong Kong, currently the largest cross-border wealth management hub in Asia and the second-largest worldwide after Switzerland, is anticipated to surpass Switzerland by 2027, becoming the premier global centre for cross-boundary wealth management. Jadewell Family Office uses Hong Kong as its base, underscoring the city’s appeal as a prime destination for investment management.”
 
Co-Founder and Chief Executive Officer of Jadewell Family Office, Ms Ann Yu, said, “We understand that many clients in Hong Kong are seeking to transition portfolio management responsibilities to the next generation. The city offers a strong client base, a sophisticated financial ecosystem and boundless opportunities that are vital for our operations. We are committed to expanding our services beyond traditional private banking clientele to reach a wider audience in Hong Kong.”
 
She added, “We recognise the strong demand for portfolio consolidation, analysis and monitoring among sophisticated clientele in Hong Kong who hold investment positions across multiple custodians. Our expertise is well suited to meet this demand. We also offer coaching to younger family members on investment fundamentals, interactions with private bankers and product selection, while enhancing cost structure transparency and mitigating conflicts of interest.”
 
Founded in 2024, Jadewell Family Office aims to address the significant needs of affluent clients seeking comprehensive and conflict-free investment advisory services. It is a licensed corporation under the Hong Kong Securities and Futures Commission, holding Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses, dedicated to serving professional investors.
 
For more information about Jadewell Family Office, please visit www.jadewellfo.com.

For a copy of the photo, please visit www.flickr.com/photos/investhk/albums/72177720324641522.

Source: Government of India

Posted On: 27 MAR 2025 6:58PM by PIB Delhi

IN-SPACe has following space start-ups encouragement programs/schemes:

1. IN-SPACe Seed fund scheme provide initial finance assistance to the Indian space start-ups with novel concept. This scheme enables these start-ups to demonstrate the novel idea and graduate to next level. A maximum grant of Rs. 1 Crore would be provided to selected start-up on milestone basis in three or more instalments.
2. Under IN-SPACe differential pricing policy discounted price support is provided to space start-ups for availing/utilizing various facilities of DOS/ISRO, Technology Transfer and launch services.
3. IN-SPACe aims to foster the commercialization in space system by promoting NGEi to develop space products which in turn shall lead to scaling up the productionisation to meet the Global and Domestic Space Sector demands. As part of this endeavor, the Technology Adoption Fund (TAF), a funding scheme designed to promote innovation and drive the commercialization of cutting-edge technologies in the space sector has been instituted.
4. Apart from the above, mentorship support to space start-ups is also provided along with skill development programs in relevant space area.

The IN-SPACe Seed Fund scheme is designed to support space start-ups and micro & small industries (MSEs), those aims to develop innovative space products and services. Eligible applicants include early-stage start-ups and micro & small industries (MSEs) with innovative ideas and projects that use space technology to address up-stream/ mid-stream and down-stream challenges in the Space Sector. The seed fund will provide financial support to selected applicants to help them bring their ideas to life and get their projects off the ground. This support will include access to funding, mentorship, training, and networking opportunities.

IN-SPACe has provided grants to the six Indian space start-ups to develop products and services in the sectors i.e., Agriculture, Disaster management and Urban Development using space technology under IN-SPACe Seed Fund Scheme.

This information was given by Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, Earth Sciences, MoS PMO and Department of Space, in a written reply in the Rajya Sabha today.

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NKR/PSM

(Release ID: 2115883) Visitor Counter : 288

Source: Government of India

Ministry of Finance

Issuance Calendar for Marketable Dated Securities for April 2025 ­- September 2025

Posted On: 27 MAR 2025 6:55PM by PIB Delhi

(Release ID: 2115880)

Source: Government of India

Ministry of Finance

Calendar for Auction of Government of India Treasury Bills (For the Quarter ending June 2025)

Posted On: 27 MAR 2025 6:53PM by PIB Delhi

(Release ID: 2115879)