Home and Youth Affairs Bureau launches new round of HYAB Funding Scheme for International Youth Exchange

Source: Hong Kong Government special administrative region – 4

The Home and Youth Affairs Bureau (HYAB) and the Youth Development Commission (YDC) jointly launched the HYAB Funding Scheme for International Youth Exchange 2026-27 today (December 9). Eligible non-governmental organisations (NGOs) are invited to submit applications.
 
The Government attaches great importance to youth development. The HYAB promulgated the Youth Development Blueprint at the end of 2022, which states that the Government will further strengthen the breadth and depth of the Mainland and international internship and exchange programmes with a view to enhancing young people’s understanding of the development of the country and the world. Through the HYAB Funding Scheme for International Youth Exchange, the HYAB and the YDC provide funding for NGOs to organise international exchange projects for Hong Kong young people to broaden their global exposure and their understanding of the history, culture and the latest developments of different places. The funding scheme also covers exchange projects to regions along the Belt and Road to promote cultural exchanges and foster people-to-people bonds. The Pilot Scheme on Subsidy to Grassroots Youth for Participating in Exchange Activities Outside Hong Kong that launched earlier will also continue to provide additional subsidies to grassroots youth with financial needs to participate in exchange projects under the 2026-27 funding scheme.
 
Details of the new round of the funding scheme are available on the YDC website www.ydc.gov.hk/en/programmes/ep/ep_fundingschemeinternational.html). Interested NGOs should submit their applications via the e-application system on or before January 6, 2026.

Quarterly business receipts indices for service industries for third quarter of 2025

Source: Hong Kong Government special administrative region

Quarterly business receipts indices for service industries for third quarter of 2025 
     Comparing the third quarter of 2025 with the third quarter of 2024, double-digit increases were recorded in business receipts indices of the insurance (+40.7%), financing (except banking) (+31.4%), import/export trade (+24.5%) and banking (+12.9%) industries. On the other hand, the transportation industry recorded a decrease of 5.8% in business receipts index during the same period.
 
     Analysed by service domain, business receipts index of the computer and information technology services domain increased by 99.1% year-on-year during the same period, while that of the tourism, convention and exhibition services domain also increased by 4.6% year-on-year.
 
     On a seasonally adjusted quarter-to-quarter comparison, business receipts in value terms of many major service industries recorded increases of varying magnitudes in the third quarter of 2025 when compared with the second quarter of 2025. In particular, a double-digit increase was recorded in business receipts index of the insurance (+23.9%) industry. On the other hand, business receipts index of the warehousing and storage industry decreased by 5.6% during the same period.
 
     Analysed by service domain, comparing the third quarter of 2025 with the second quarter of 2025 on a seasonally adjusted basis, business receipts index of the computer and information technology services domain increased by 20.0%, while that of the tourism, convention and exhibition services domain also increased by 6.8%.
 
Commentary
 
     A Government spokesman said that business receipts of many service industries increased in the third quarter of 2025 over a year earlier, with more notable increases seen for the insurance, financing (except banking), import/export trade and banking industries.
 
     Looking ahead, business of the service industries as a whole should continue to expand. Sustained moderate growth of the global economy, coupled with easing China-US trade tensions, should provide support to trade-related sectors. Continued improvement in local consumer sentiment, sustained growth in visitor arrivals, vibrant financial market activities, and the Government’s various measures to develop the economy and diversify markets will continue to bode well for various service industries. Notwithstanding, the impact of external uncertainties on certain industries still warrants close attention.
 
Further information
 
     Table 1 presents the business receipts indices and their corresponding year-on-year rates of change in respect of selected service industries and service domains for the recent five quarters, while Table 2 shows the corresponding quarter-to-quarter rates of change in the business receipts indices for the recent five quarters based on the seasonally adjusted series.
 
     The revised figures of business receipts indices for the third quarter of 2025 will be released at the website of the C&SD (www.censtatd.gov.hk/en/web_table.html?id=660-69001 
     Data for compiling the business receipts indices are mainly based on the Quarterly Survey of Service Industries conducted by the C&SD, supplemented by relevant data provided by the Hong Kong Monetary Authority and the Hong Kong Tourism Board.
 
     A service domain differs from a service industry in that it comprises those economic activities which straddle different industries but are somehow related to a common theme. It may include all activities carried out by all companies in a service industry that is closely related to the domain. For a service industry that is less closely related, however, only a portion of the companies in the industry or even only part of the economic activities of the companies is related to the domain. Taking the tourism, convention and exhibition services domain as an example, it includes all services of convention and exhibition organisers, short-term accommodation services and services of travel agents, and some of the services (only those involving visitors as customers) of restaurants, retailers and transport operators.
 
     The classification of service industries follows the Hong Kong Standard Industrial Classification Version 2.0, which is used in various economic surveys for classifying economic units into relevant industry classes.
 
     More detailed statistics are given in the report “Quarterly Business Receipts Indices for Service Industries, Third Quarter 2025”. Users can browse and download this publication at the website of the C&SD (
www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080006&scode=520 
     For enquiries about the business receipts indices, please contact the Business Services Statistics Section of the C&SD (Tel: 3903 7274 or e-mail:
business-receipts@censtatd.gov.hkIssued at HKT 16:30

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Results of monthly survey on business situation of small and medium-sized enterprises for November 2025

Source: Hong Kong Government special administrative region

Results of monthly survey on business situation of small and medium-sized enterprises for November 2025 
     The current diffusion index (DI) on business receipts amongst SMEs decreased from 44.8 in October 2025 in the contractionary zone to 44.5 in November 2025, whereas the one-month’s ahead (i.e. December 2025) outlook DI on business receipts was 47.5. Analysed by sector, the current DIs on business receipts for some surveyed sectors dropped in November 2025 as compared with previous month, particularly for the logistics (from 43.3 to 42.2) and import and export trades (from 45.7 to 44.7).
          
     The current DI on new orders for the import and export trades decreased from 47.1 in October 2025 to 46.0 in November 2025, whereas the outlook DI on new orders in one month’s time (i.e. December 2025) was 47.4.
 
Commentary
 
     A Government spokesman said that business sentiment among SMEs was broadly stable in November after having shown some visible improvement over the past several months. While the current diffusion index on business receipts eased slightly from the high in the preceding month, the index on outlook in one month’s time stayed at an elevated level. Meanwhile, the overall employment situation improved slightly from the preceding month.
 
     Looking ahead, further solid growth of the Hong Kong economy will support local business sentiment. Nevertheless, as the uncertainties in the external environment persist, the Government will monitor the situation closely.
 
Further information
 
     The Monthly Survey on Business Situation of Small and Medium-sized Enterprises aims to provide a quick reference, with minimum time lag, for assessing the short-term business situation faced by SMEs. SMEs covered in this survey refer to companies with fewer than 50 persons engaged. Respondents were asked to exclude seasonal fluctuations in reporting their views. Based on the views collected from the survey, a set of diffusion indices (including current and outlook diffusion indices) is compiled. A reading above 50 indicates that the business condition is generally favourable, whereas that below 50 indicates otherwise. As for statistics on the business prospects of prominent companies in Hong Kong, users may refer to the publication entitled “Report on Quarterly Business Tendency Survey” released by the C&SD.
 
     The results of the survey should be interpreted with care. The survey solicits feedback from a panel sample of about 600 SMEs each month and the survey findings are thus subject to sample size constraint. Views collected from the survey refer only to those of respondents on their own companies rather than those on the respective sectors they are engaged in. Besides, in this type of opinion survey on expected business situation, the views collected in the survey are affected by the events in the community occurring around the time of enumeration, and it is difficult to establish precisely the extent to which respondents’ perception of the business situation accords with the underlying trends. For this survey, main bulk of the data were collected around the last week of the reference month.
 
     More detailed statistics are given in the “Report on Monthly Survey on the Business Situation of Small and Medium-sized Enterprises”. Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1080015&scode=300 
     Users who have enquiries about the survey results may contact Industrial Production Statistics Section of the C&SD (Tel: 3903 7246; email:
sme-survey@censtatd.gov.hkIssued at HKT 16:30

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External Direct Investment of Hong Kong in 2024

Source: Hong Kong Government special administrative region

External Direct Investment of Hong Kong in 2024 
Stocks of DI
 
     At the end of 2024, the total stock of Hong Kong’s inward DI (i.e. the position of Hong Kong’s DI liabilities) increased by 9.1% over a year earlier to $20,049.6 billion. Its ratio to the Gross Domestic Product (GDP) stood at 631% in 2024. The increase in 2024 was mainly attributable to the positive DI inflow to Hong Kong.
 
     As for the total stock of Hong Kong’s outward DI (i.e. the position of Hong Kong’s DI assets), it increased by 6.7% over 2023 to $18,890.0 billion. Its ratio to GDP was 595% in 2024. The increase in 2024 was mainly attributable to the positive DI outflow to enterprises outside Hong Kong, partly offset by the decrease resulting from exchange rate variations, as some DI assets are denominated in other currencies.
 
     Analysed by immediate source of investment, Chinese Mainland (the Mainland) and the British Virgin Islands (BVI) were the two largest sources for Hong Kong’s inward DI, with a share of 32.7% and 30.4% respectively at end-2024. Analysed by major economic activity of Hong Kong enterprise groups (HKEGs) which had received inward DI, those engaged in investment and holding, real estate, professional and business services took up the largest share, at 68.2% at end-2024. This was followed by banking, at 11.0%; and import/export, wholesale and retail trades, at 10.5%.
          
     Analysed by immediate destination of investment, the Mainland and the BVI were also the two largest destinations for Hong Kong’s outward DI, with a share of 52.1% and 27.6% respectively at end-2024. Analysed by major economic activity of HKEGs which had made outward DI, those engaged in investment and holding, real estate, professional and business services took up the largest share, at 78.8% at end 2024. This was followed by import/export, wholesale and retail trades, at 8.6%.
 
Flows of DI
 
     In 2024, total DI inflow amounted to $982.4 billion, larger than that of $954.9 billion in 2023. On the other hand, total DI outflow in 2024 amounted to $629.2 billion, smaller than that of $752.9 billion in 2023. Taking the inflow and outflow together, a net DI inflow of $353.2 billion was recorded in 2024.
 
     Analysed by immediate source of investment, the Mainland was the major source of Hong Kong’s DI inflow in 2024, amounting to $466.0 billion. The BVI came next, at $237.0 billion. Analysed by major economic activity of HKEGs which had received DI inflow, those engaged in investment and holding, real estate, professional and business services attracted the largest amount in 2024, at $588.0 billion.
 
     Analysed by immediate destination of investment, the Mainland accounted for a predominant share of Hong Kong’s DI outflow in 2024, at $372.9 billion. The BVI came next, at $198.9 billion. Analysed by major economic activity of HKEGs which had made DI outflow, those engaged in investment and holding, real estate, professional and business services took up the largest amount, at $452.9 billion.
 
Commentary
 
     A Government spokesman said that Hong Kong remains one of the world’s major destinations for and sources of external DI. Total DI inflow and outflow continued to be significant in 2024, at $982.4 billion and $629.2 billion respectively. The stocks of overall inward and outward DI also increased further to $20,049.6 billion and $18,890.0 billion (631% and 595% of GDP) respectively at end-2024. These testify Hong Kong’s status as a prominent international centre for finance and commerce and a preferred base for multinational corporations, while also reflect strong global investor confidence in Hong Kong’s economic prospects.
 
     Hong Kong’s DI covers a large geographical spread and a wide range of economic activities, with the Mainland featuring prominently both as a source and as a destination. This underscores Hong Kong’s pivotal roles as a “super connector” and a “super value-adder”.
 
     The Government will continue to leverage on Hong Kong’s unique advantages in fulfilling its role in connecting the Mainland with the world. Persistent efforts have been made in deepening Hong Kong’s international connectivity on all fronts, and proactive measures have been taken in attracting more Mainland enterprises to use Hong Kong as a platform to go global. The Government will also strengthen its policies for bringing in more strategic enterprises to set up in Hong Kong, thereby promoting high-quality development.
 
Further Information
 
     DI represents external investment in which an investor of an economy acquires a lasting interest and a significant degree of influence or an effective voice in the management of an enterprise located in another economy. For statistical purpose, an effective voice is taken as being equivalent to a holding of 10% or more of the voting power in an enterprise.
 
     According to the international statistical standards, the total stocks and flows of DI presented above are compiled based on the “asset/liability principle”, while detailed DI figures analysed by country/territory and by major economic activity of HKEGs are based on the “directional principle”. Owing to the adoption of different presentation principles, the total stocks and flows of DI are different from the sums of the detailed DI figures by country/territory or by major economic activity of HKEGs. However, the overall direct investment balance compiled from figures based on these two presentation principles respectively is the same.
 
     Tables 1 and 2 show the positions (i.e. stocks) and flows of inward DI in Hong Kong by selected major investor country/territory and by major economic activity of HKEGs respectively for 2023 and 2024. Similar statistics on outward DI from Hong Kong are presented in Tables 3 and 4.
          
     More detailed statistics are given in the report “External Direct Investment Statistics of Hong Kong 2024”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1040003&scode=260 
     Enquiries about the DI statistics may be directed to the Balance of Payments Branch (2) of the C&SD at 3903 7024.
Issued at HKT 16:30

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Special traffic and transport arrangements for 59th Hong Kong Brands and Products Expo

Source: Hong Kong Government special administrative region

Special traffic and transport arrangements for 59th Hong Kong Brands and Products Expo 
* Pedestrianisation will continue to be implemented at East Point Road, Lockhart Road east of Cannon Street, and Great George Street west of Paterson Street from 4pm to midnight on Mondays to Fridays (except public holidays), and from noon to midnight on Saturdays, Sundays and public holidays;
 
* Depending on the on-site crowd and traffic conditions, the section of Gloucester Road between Kingston Street and Causeway Road, Sugar Street, Great George Street, Paterson Street, Kingston Street, Cleveland Street, Hing Fat Street (except franchised buses and green minibuses), Electric Road and Lau Li Street may be closed temporarily or intermittently, and a corresponding traffic diversion will be implemented upon the Police’s request;
 
* Bus stops on Causeway Road outside Victoria Park will be rearranged temporarily;
 
* The public light bus stands at Paterson Street and Sugar Street, and the taxi stands at Paterson Street and Lau Li Street may be suspended upon the Police’s request; and
 
* Hing Fat Street Public Carpark (except for disabled parking spaces) will be suspended at different time slots daily from December 10, 2025 to January 6, 2026.
 
     Details of the special traffic and transport arrangements are available on the TD’s website (www.td.gov.hk 
     Members of the public are advised to make use of public transport services as far as possible to avoid traffic congestion and unnecessary delays. The TD and the Police will closely monitor the traffic situation and implement appropriate measures when necessary. The Police may adjust the traffic arrangements, subject to the prevailing crowd and traffic conditions. The public should pay attention to the latest traffic news through radio, television or “HKeMobility”.
Issued at HKT 16:00

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Proprietors fined for violation of safety legislation

Source: Hong Kong Government special administrative region

Proprietors fined for violation of safety legislation      
     The case involved a fatal accident that occurred on December 23, 2024, at an open storage yard in Sheung Shui. Standing beside a lorry-mounted crane, a worker was struck by metal pipes that suddenly rolled off the deck of the crane after unfastening the tightening straps securing the metal pipes. The worker was certified dead on the same day.
Issued at HKT 15:50

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Speech by SCST at Jockey Club HKCGI Sports Governance Programme: International Symposium on Sports Governance and Integrity (English only)

Source: Hong Kong Government special administrative region

     Following is the speech by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, at the Jockey Club HKCGI (Hong Kong Chartered Governance Institute) Sports Governance Programme: International Symposium on Sports Governance and Integrity today (December 9):

Winfried (Chief Executive Officer of the Hong Kong Jockey Club, Mr Winfried Engelbrecht-Bresges), Moray (Executive Director of Security, Integrity and Information Security of the Hong Kong Jockey Club, Mr Moray Taylor-Smith), David (President of the Hong Kong Chartered Governance Institute, Mr David Simmonds), Irene (Assistant Director of Corruption Prevention of the Independent Commission Against Corruption (ICAC), Ms Irene Wang), Edgar (Honorary Secretary General of the Sports Federation & Olympic Committee of Hong Kong, China (SF&OC), Mr Edgar Yang), friends from the sports sector, ladies and gentlemen,

Public consultation on implementation of Crypto-Asset Reporting Framework and amendments in relation to Common Reporting Standard launched

Source: Hong Kong Government special administrative region

Public consultation on implementation of Crypto-Asset Reporting Framework and amendments in relation to Common Reporting Standard launched      
     Hong Kong has long been supportive of international efforts to enhance tax transparency and combat cross-border tax evasion. Since 2018, Hong Kong has been exchanging financial account information automatically with partner jurisdictions on an annual basis in accordance with the CRS developed by the OECD, which enables the relevant tax authorities to utilise such information for tax assessments, as well as for detecting and combating tax evasion.
      
     In light of the rapid development of digital asset markets in recent years, in 2023, the OECD published CARF to provide for the automatic exchange of tax information on crypto-asset transactions with partner jurisdictions on an annual basis, and incorporated into the CRS new digital financial products and enhanced requirements regrading reporting and due diligence.
      
     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “To demonstrate our commitment to promoting international tax co-operation and combating cross-border tax evasion, as well as to fulfil our international obligations, Hong Kong will make amendments to the Inland Revenue Ordinance (Cap. 112) (the Ordinance) for implementing CARF and the newly amended CRS. This is also of paramount importance in maintaining Hong Kong’s reputation as an international financial and commercial centre.
      
     “The Government plans to complete the necessary local legislative amendments in the coming year, with a view to commencing the automatic exchange of tax information on crypto-asset transactions with relevant partner jurisdictions starting from 2028, and implementing the newly amended CRS starting from 2029. Hong Kong will implement the automatic exchange of tax information with suitable partners, which are required to meet the standards relating to the protection of data confidentiality and security, on a reciprocal basis.”
      
     In addition, since 2024, the OECD has been conducting the second round of a peer review on the effectiveness of Hong Kong’s administrative framework for implementing the CRS. Having taken into consideration the OECD’s views, the Government proposes, through amendments to the Ordinance, to introduce mandatory registration for financial institutions to enhance identification, as well as to raise the penalty levels and enhance the enforcement mechanism, in order to maintain a favourable rating in the OECD’s peer reviews and maintain Hong Kong’s reputation as an international financial and commercial centre.
      
     The consultation paper is available on the website of the Financial Services and the Treasury Bureau (www.fstb.gov.hk/tb/en/others/consultation.htmIssued at HKT 15:00

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Appointments to Vocational Training Council announced

Source: Hong Kong Government special administrative region

Appointments to Vocational Training Council announced      
     The Secretary for Education, Dr Choi Yuk-lin, welcomed the appointment. She said, “Mr Lam possesses a profound understanding of and an ample network in various industries, which positions him to provide strategic directions and foster collaboration across diverse sectors. I am confident that, with his passion in promoting vocational and professional education and training (VPET) and breadth of experience in the commercial and industrial sectors, Mr Lam will inject invaluable expertise and a strategic vision into the VTC’s future development.”

   In addition to the reappointment of Mr Paul Chong Kin-lit as Deputy Chairman and Dr Rocky Cheng Chung-ngam, Mr Alan Cheung Yick-lun, and Ms Monica Lee-Müller Yuk-har as members, Dr Wingco Lo Kam-wing is appointed as Deputy Chairman, and Mr Jack Chan Hoi is appointed as member.          
     The membership list of the new term of the VTC is as follows:———–
Mr Jeffrey Lam Kin-fung^
 
Deputy Chairmen
——————-
Mr Paul Chong Kin-lit#
Dr Wingco Lo Kam-wing^
 
Members
———-
Mr Jack Chan Hoi^
Ms Sabrina Chao Sih-ming 
Dr Rocky Cheng Chung-ngam#
Mr Alan Cheung Yick-lun#
Mr Chiang Tung-keung 
Mr Gary Lau Sun-tao
Mr Bosco Law Ching-kit 
Ms Monica Lee-Müller Yuk-har#
Professor Kenneth Leung Mei-yee 
Mr Ricky Leung Wing-kee
Mr Sunny Tan 
Mr Tse Wang-yu
Mr Bosco Ying Pui-chi
Deputy Secretary for Education (or his/her representative)
Director-General of Trade and Industry (or his/her representative)
Commissioner for Labour (or his/her representative)
Executive Director of Vocational Training Council# Reappointed members
 
     The VTC was established in 1982 with a mission to provide a comprehensive system of vocational education and training as well as multiple pathways for young people, and to meet the needs of different industries in Hong Kong. The 14 member institutions of the VTC provide a broad spectrum of pre-employment and in-service education and training programmes, covering a wide range of industries and catering for students with different backgrounds and abilities.
Issued at HKT 15:00

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Speech by STL at Airspace Asia Pacific 2025

Source: Hong Kong Government special administrative region

     Following is the speech by the Secretary for Transport and Logistics, Ms Mable Chan, at the Airspace Asia Pacific 2025 today (December 9):

Mr Hocquard (Director General of the Civil Air Navigation Services Organisation (CANSO), Mr Simon Hocquard), Mr Han (Director-General of the Civil Aviation Authority of Singapore and Chair of the Asia Pacific CANSO, Mr Han Kok-juan), Mr Arel (Chair of CANSO, Mr Tim Arel), Messrs Ma (Deputy Administrator of the Civil Aviation Administration of China (CAAC), Mr Ma Bing, and Regional Director of Asia Pacific Office, International Civil Aviation Organization (ICAO), Mr Ma Tao), Mr Miao (Director-General of the Air Traffic Management Bureau of the CAAC, Mr Miao Xuan), distinguished guests, ladies and gentlemen,

     Good morning, and to our friends from abroad, a very warm welcome to Hong Kong. It is my great honour to address the CANSO Airspace Asia Pacific 2025. With our prime location right at the heart of Asia, half of the world’s population are within five hours by air. Not to mention as a premier southern gateway to the world’s second largest economy – the Chinese Mainland – Hong Kong is truly the perfect place to host this remarkable event.

     Backed by firm national support and strong global connectivity, Hong Kong is widely recognised as an international aviation hub. Hong Kong International Airport (HKIA) is a world leader in air cargo and a top international passenger airport. Last year, it handled 53 million passengers, an increase of one-third year-on-year, ranked among the top 10 busiest international passenger airports in the world. Over the first 10 months this year, HKIA already handled over 50 million passengers, representing 15 per cent growth compared to the same period last year. Cargo volume rose by 2.3 per cent year-on-year to over 4.1 million tonnes. Currently, about 140 airlines are operating, connecting us to over 200 destinations around the world. I’m very happy to say today that HKIA is just named by the 2025 World Travel Awards as the world’s leading airport in terms of customer experience.

     As we have turned our dual-runway into a three-runway system, we are accelerating the expansion of the aviation network. Over the past two years, we have expanded bilateral air services agreements with more than 10 countries. I am happy to tell you that just the past two months, we have managed to strike deals and detailed agreements with a handful of South American countries, namely Chile, Argentina, Ecuador, Peru, Cuba, as well as Poland in Europe and Togo in West Africa. These are all countries in our major aviation partner network, including under the Belt and Road Initiative. In a way, we hope that we will extend our air connectivity to support our business and tourism sectors when dealing with all these countries. 

     While managing the very busy high-altitude air traffic, we are also actively exploring the opportunities presented by emerging unmanned air mobility technologies flying at the low altitude. As one of the themes of this conference, “Seamless Airspace: Integrating Manned, Uncrewed, and Advanced Air Mobility” is a powerful reflection of both the dynamic skies around the world. Today, allow me to take you through our journey of turning this vision of seamless integration from concept into tangible reality.

     In Hong Kong, a city known for its ambition and innovation, we are building a new layer of intelligent, connected infrastructure in the airspace below 1 000 metres. We recognise that the low-altitude economy (LAE) is a very powerful convergence of aviation, digitalisation and green technology. But its success hinges on one critical factor: the safe, efficient and scalable integration of new air mobility technologies and solutions into our existing airspace system.

     Our strategy to achieve this is built on a disciplined, three-phase approach, and together we mapped out a roadmap that helps us to move from very controlled testing scenarios to real-life, full-scale applications.

     First, we began with conceptualisation and proof of concept. In March this year, we launched our LAE “Regulatory Sandbox”. This initiative marked our practical starting point for integration, inviting enterprises, technology and academic institutions to establish very tightly and well-managed controlled corridors to test real-world applications. The initial results are very promising just over the past nine months. To name a few:
 

  • We have achieved a groundbreaking 18-minute cross-sea medical delivery by drone, cutting delivery time by over 60 per cent and proving the efficiency of unmanned logistics.
  • Partners like the MTR Corporation (MTR Corporation Limited) are integrating and implementing AI-enabled drone systems for railway infrastructure maintenance, surveillance, and preventive maintenance. In a way, they are creating a smart eye in the sky that enhances both safety and efficiency. 
  • Crucially, over a dozen government departments are already adopting low-altitude economy applications by using drones, embedding this new opportunity into the fabric of public services and urban management.

     These are not isolated trials. They are the fundamental and foundational steps in helping us to build trust, reliability and operational data for a shared airspace.

     Second, we are now advancing to consolidation and complex integration through the LAE “Regulatory Sandbox X” scheme, which was just launched two weeks ago. “X” in the project’s name denotes extra complexity and extended scale, so it is really limitless opportunities. Directly aligned with CANSO’s theme, this phase deliberately introduces more sophisticated integration scenarios. We are heading to more challenging scenarios like cross-boundary logistics, using heavier drones and even passenger-carrying drones. Our focus will be on the key modules including an unmanned aircraft traffic management system, eVTOLs and an integrated platform. 

     The fundamental objective of this phase is to address a critical question before us: What creates outsized economic value while maintaining acceptable risk? It serves as our practical, real-world laboratory for pioneering the harmonisation of both air traffic and unmanned air traffic management system.

     And ultimately, our path leads to a codified action plan. By the end of next year, the data and experience from these two phases of “Regulatory Sandbox” schemes will help us to culminate data into a comprehensive action plan. Underpinning this roadmap are two essential enablers.

     First, an adaptive regulatory framework. We have actually, with the help of the past Legislative Council, already started our legislative amendment exercise. We will also embark on an exercise to map out a dedicated law to enable us to advance to a more complex and integrated low-altitude air traffic management and safety system. Compliance is our top priority. It is a guardrail from the start and absolutely will not be a checkpoint at the end. With the successful implementation of the Legislative Council General Election, we are here to work closely with our new elected Legislative Councillors in partnership so as to advance and expedite our law amendment exercise. 

     The second enabler is a collaborative ecosystem for regional leadership. Seamless airspace cannot be achieved in isolation. Hong Kong, with our strengths as an international financial centre and a hub for legal and insurance services, is mobilising our capital and risk-management expertise in order to provide solutions for the entire industry. Furthermore, our position in the Guangdong-Hong Kong-Macao Greater Bay Area of the Chinese Mainland gives us unrivalled access to world-class manufacturing and R&D (research and development) hubs. This synergy between Hong Kong’s international standards and the region’s innovation capacity creates a perfect launchpad for the low-altitude economy. We are actively engaging in global standard-setting technologies and dialogues, including those with ICAO, to ensure the frameworks we develop contribute to regional and global harmonisation.

     Ladies and gentlemen, our journey follows a simple, evidence-based cadence: plan, test, learn and decide. We are building more than a low-altitude economy; we are building a blueprint for the seamless, safe, innovative and efficient airspace of the future – not just locally, but globally.

     Hong Kong is fully committed to collaborating with all of you – our partners across the Asia-Pacific region and the world – to ensure that our skies remain a realm of limitless opportunities. Together, we will pioneer an airspace where manned and unmanned vehicles integrate seamlessly and safely, fuelling economic growth and connecting our communities in once unimaginable ways.

     Thank you again, and I wish you a very fruitful, positive and collaborative conference today. Thank you very much.