Source: Hong Kong Government special administrative region
Speech by Permanent Secretary for Financial Services and the Treasury (Financial Services) at International Financial Week: Development & Innovation of AI & Digital Finance (English only)
Distinguished Guests, Ladies and Gentlemen,
It’s my great pleasure to join you all at this afternoon’s parallel event of the Asian Financial Forum.
Financial stability and financial development are two sides of a coin, particularly in the digital age. Today’s event on “Development and Innovation of AI & Digital Finance”, organised by the Alliance for Financial Stability with Information Technology and the Hong Kong Institution for Infrastructural Finance, is most timely. Innovation drives our future, while a robust regulatory and security regime contributes to enduring progress.
Thanks to the continuous market reforms in Hong Kong that benchmark global competitiveness, and our unique connection to the Chinese Mainland market made possible by the successful implementation of the “one country, two systems” principle, Hong Kong as a premier international financial centre now ranks third globally and first in Asia-Pacific in the Global Financial Centres Index. Among the specific areas, Hong Kong’s ranking in fintech has leapt to first in the world. Last year, funds raised through IPOs reached $285.8 billion, an increase of 225 per cent over that of 2024, and we regained our number one ranking for IPOs funds raised in 2025. The average daily turnover was near $250 billion, an impressive increase of 90 per cent over 2024. All these testify to the resilience of the Hong Kong financial market against all odds.
In growing further the liquidity and breadth of our capital markets, Hong Kong stands ready to harness the potential brought about by technology advancement and innovations. In the financial services area, the Hong Kong SAR Government has issued three rounds of tokenised government green bonds for sustainable development over the past three years, proving with success the digitally native form of multi-currency green bonds and utilisation of central bank e-money and, in this case, e-CNY and e-HKD, in the settlement process. We have introduced legislation that allows the licensing of virtual assets trading exchanges. There are now 11 of these exchanges operating in Hong Kong, and there are more in the application process. At the moment, we are formulating legislation for the licensing regimes for the dealing and custodian services of virtual assets, after doing in-depth public consultation. Last year, as you may be aware, we also introduced and enacted the Stablecoin Ordinance that establishes a licensing regime for fiat-referenced stablecoin issuers.
One fundamental principle that applies in these innovative initiatives is “same activity, same risk, same regulation”, with clear and transparent rules on capital requirements, fit and properness for management personnel, and the segregation treatment of client and firm money. The aim is to enable the healthy and responsible development of the digital asset sector, with solid regulation and a robust ecosystem. The Policy Statement on the Responsible Application of AI in the Financial Market that the HKSAR Government issued in October 2024 carries the same spirit. In the same vein, the Hong Kong Monetary Authority launched two cohorts of the Generative AI Sandbox in August 2024 and April last year, providing a risk-managed framework for banks to test AI-use cases in a responsible manner.
Again, financial stability is at the core of financial market development and innovation. With the impressive list of speakers today, I am sure we shall all benefit from their insights and wisdom. I wish the event every success and, with a warm welcome, I wish guests travelling from afar will have a good time in Hong Kong. Enjoy our vibrant city. Thank you.
Issued at HKT 17:20
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Primary Healthcare Commission launches Hepatitis B Co-care Scheme to provide hepatitis B screening and treatment services for higher-risk group
Source: Hong Kong Government special administrative region – 4
The Primary Healthcare Commission (PHC Commission) under the Health Bureau announced today (January 26) that the Hepatitis B Co-care Scheme will be launched on February 7 to identify people with chronic hepatitis B in the community at an early stage and provide long-term follow-up services, with a view to reducing their risk of having cirrhosis, liver cancer and other serious complications. Starting from that day, eligible persons may enrol in the Scheme at District Health Centres/District Health Centre Expresses (collectively referred to as DHCs) to receive a hepatitis B risk assessment, screening and long-term management.
The Hepatitis B Co-care Scheme is one of the key primary healthcare initiatives put forward by the Chief Executive in his 2025 Policy Address. Making reference to the service model of the Chronic Disease Co-Care Pilot Scheme (CDCC Pilot Scheme), the Hepatitis B Co-care Scheme subsidises eligible persons to receive chronic hepatitis B screenings and treatment, as well as liver cancer screenings, in the private healthcare sector through strategic purchasing and a co-payment model.
The Hepatitis B Co-care Scheme targets a higher-risk group. Hong Kong residents born in or before 1988 (the introduction year of the universal childhood hepatitis B immunisation programme) with no known medical history of chronic hepatitis B nor related symptoms, while having family members (including parents, siblings and offspring) or sexual partners who contracted chronic hepatitis B being eligible to participate. They have to first register as DHC members and agree to join eHealth.
DHC staff will arrange eligible participants to undergo a free hepatitis B surface antigen rapid diagnostic test (RDT) at DHCs, and pair them with a family doctor of their own choice. Participants with positive RDT results will be subsidised by the Government to receive further blood tests at the clinic of their chosen and paired family doctor under a co-payment model to confirm whether they are infected with the hepatitis B virus. Under the general service workflow, if the result of the participant’s first blood test is positive, the family doctor will arrange a second blood test for the participant six months later to confirm the diagnosis. During the process, family doctors will promptly assess and diagnose whether a participant has chronic hepatitis B based on the participant’s laboratory results and clinical conditions, with a view to providing appropriate treatment and management. During the screening phase, participants are only required to pay a co-payment fee of $180, while the Government will subsidise family doctors for up to two consultations at a total consultation fee of $136. Participants who are not diagnosed with chronic hepatitis B after a screening can continue to receive hepatitis B-related health counselling and education at DHCs to establish healthy lifestyles (see Annex for details of the screening process).
Participants who are diagnosed with chronic hepatitis B will enter the treatment phase, with arrangements the same as those of the CDCC Pilot Scheme. Participants are entitled to a maximum of four subsidised consultations per year for follow-up service, and they have to pay a co-payment fee determined by the family doctor (Note) for each consultation. The Government has recommended a co-payment fee of $150 per consultation. The Government will provide a subsidy of $166 to family doctors for each consultation. The same basic-tier drug list of the CDCC Pilot Scheme, which includes antiviral medicines for hepatitis B treatment, will also be adopted in the treatment phase. Participants prescribed with those drugs will not be required to pay for medication. In addition, family doctors can arrange appropriate laboratory testing services for participants with clinical needs. The list of laboratory tests and related co-payment fees are the same as those under the CDCC Pilot Scheme.
To encourage family doctors to provide whole-person and continuous care to members of the public, family doctors can offer management for chronic diseases such as prediabetes, diabetes mellitus, hypertension or hyperlipidaemia in the same consultation for participants who have also enrolled in the CDCC Pilot Scheme. Participants are only required to pay a co-payment fee for one consultation. The consultation quotas will also be calculated in a consolidated manner. The higher number of subsidised consultation quotas for the CDCC Pilot Scheme or the Hepatitis B Co-care Scheme shall prevail. As the concurrent management of the “three highs” and chronic hepatitis B requires a more detailed and comprehensive assessment and diagnosis, the Government will provide an additional fixed annual subsidy of $300 per participant to the family doctor if the family doctor has provided concurrent management for chronic hepatitis B and any of the “three highs” chronic diseases for the same participant in at least two consultation sessions within a calendar year (January 1 to December 31).
To address the healthcare needs of the underprivileged group, if the eligible persons are recipients of the Comprehensive Social Security Assistance Scheme, recipients of the Old Age Living Allowance aged 75 or above, or holders of valid medical fee waiver certificates, DHCs will arrange for them to receive the same chronic hepatitis B screening and treatment services at 18 designated Family Medicine Clinics of the Hospital Authority. Participants may be granted a full or partial medical fee waiver based on their relevant eligibility when receiving the services.
Members of the public may visit the CDCC Pilot Scheme’s thematic website for more details of the Hepatitis B Co-care Scheme.
Note: The co-payment fee for medical consultations set by family doctors under the Hepatitis B Co-care Scheme must be consistent with the co-payment level set under the CDCC Pilot Scheme.
Speech by FS at Asian Financial Forum Keynote Luncheon (English only) (with photo/video)
Source: Hong Kong Government special administrative region
Following is the speech by the Financial Secretary, Mr Paul Chan, at Asian Financial Forum Keynote Luncheon today (January 26):
Dr Barroso (Former President of the European Commission and former Prime Minister of Portugal, Dr José Manuel Barroso), Fred (Chairman of the Hong Kong Trade Development Council, Professor Frederick Ma), your Excellencies, distinguished guests, ladies and gentlemen,
Independent Committee in relation to fire at Wang Fuk Court in Tai Po invites public and organisations to provide information
Source: Hong Kong Government special administrative region
Independent Committee in relation to fire at Wang Fuk Court in Tai Po invites public and organisations to provide information
The Independent Committee in relation to the fire at Wang Fuk Court in Tai Po announced today (January 26) that it is inviting members of the public and organisations to provide information on the causes and circumstances that led to the fire, and its rapid spread and related issues, from tomorrow (January 27) until February 10.
Members of the public and organisations wishing to provide information can submit a form via one of the following means from 10am tomorrow to 11.59pm on February 10:
The Chief Executive has established the Independent Committee in relation to the fire at Wang Fuk Court in Tai Po to review the causes of the incident and related issues of the fire, and to make recommendations to prevent similar incidents from occurring again. The Committee formally commenced its work on December 19, 2025.
Issued at HKT 16:00
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Remarks by SFST at 19th Asian Financial Forum media session
Source: Hong Kong Government special administrative region
Remarks by SFST at 19th Asian Financial Forum media session
Reporter: You have mentioned about keeping the communication with the Chinese Mainland IPOs. What concrete measures are being prioritised to ensure robust and sustained trading activity for new listings companies in Hong Kong, and how to make sure their quality?
Secretary for Financial Services and the Treasury: I think one of the key things that we have tried to do is to ensure the continued quality of our own market. So you can see that in the coming year, there are a number of things that we will be pursuing.
First of all, in terms of the listing requirements, we will enhance our listing requirements to see how we can further our competitiveness in the capital market, in particular on the weighted voting rights, and the second one is on the secondary trading. We are also looking into how we can bring our clearing cycle from the current T+2 into T+1 with the market. At the same time, we are now reviewing our board lot size, and also the minimum spread of our stock market, with a view to enhancing the overall liquidity of our capital market.
(Please also refer to the Chinese portion of the remarks.)
Issued at HKT 13:04
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Labour Department launches special enforcement operation targeting construction sites of new works
Source: Hong Kong Government special administrative region
Labour Department launches special enforcement operation targeting construction sites of new works
To enhance enforcement efficiency, the LD also uses small unmanned aircraft to conduct aerial remote surveillance of construction sites. Upon detecting unsafe work practices, photos and videos will be taken immediately for evidence collection to support inspections and enforcement actions.
Under the general duty provisions of the Occupational Safety and Health Ordinance, employers are obligated to provide safe working environments, plant and systems of work for their employees. Those who contravene relevant provisions are liable to a maximum fine of $10 million and imprisonment for two years.
The LD reiterates that concerted efforts of employers and employees are essential for safeguarding the OSH of construction workers and building a safety culture. Apart from conducting the SEO, the LD will continue to adopt a multipronged strategy to foster an OSH culture and prevent accidents through regular inspections, publicity and promotion, education and training as well as the use of new technologies.
Issued at HKT 12:38
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Taxi Service Commendation Scheme accepts public nominations all year round
Source: Hong Kong Government special administrative region
Taxi Service Commendation Scheme accepts public nominations all year round
To recognise drivers and management teams providing quality services, a total of 24 awards will be granted under the Scheme, including 20 Quality Taxi Drivers, one Most Popular Taxi Driver, two Good Driver, Good Service awards, and one Quality Taxi Service Management Team.
The Scheme is open for nominations throughout the year. Members of the public can nominate quality taxi drivers and service management teams, and share their Good Driver, Good Service riding experiences via the CTSQ’s webpage (www.ctsq.org.hk/voting
The TD will issue letters to the taxi trade and introduce the Scheme in the Taxi Newsletter. Promotional materials will be displayed in taxi compartments, on other public transport vehicles, and on service information boards at taxi stands. In addition, the TD will enhance promotion on its website and the HKeMobility mobile application. It will also collaborate with the Hong Kong Tourism Board to promote the Scheme, encouraging members of the public and visitors to nominate outstanding drivers and management teams.
Issued at HKT 12:25
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Speech by CE at Asian Financial Forum (English only) (with video)
Source: Hong Kong Government special administrative region
Following is the speech by the Chief Executive, Mr John Lee, at the Asian Financial Forum (AFF) today (January 26):
Honourable Director Zhou Ji of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Honourable Deputy Governor Zou Lan of People’s Bank of China, Honourable Commissioner Cui Jiancun of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region, Honourable Executive Vice Mayor Wu Wei of Shanghai, Honourable Vice Governor Wang Junshou of Hunan, Professor Frederick Ma (Chairman of the Hong Kong Trade Development Council), government officials and distinguished guests from around the world, ladies and gentlemen,
Good morning. And welcome to Hong Kong and the 19th Asian Financial Forum.
The inaugural Global Business Summit is among the many highlights of this year’s Forum. Designed to encourage deeper financial and industrial co-operation, it will be held throughout tomorrow, day two of the AFF.
It begins with “one country, two systems”, the unique principle that assures us of the unwavering support of China, our country, while continuing to expand our global markets and reach. This unparalleled positioning solidifies our institutional strengths: the rule of law, a judiciary that exercises its power independently, an open and transparent market, the free flow of capital and a low and simple tax regime.
These have ensured Hong Kong thrives as a top destination for enterprises that seek to grow and develop, in an environment that’s safe and convenient to do business. You don’t just have to take my word for it.
According to our annual survey, the number of foreign- and Mainland-affiliated companies in Hong Kong was 11 070 in 2025, up 11 per cent from the year before. That’s a record high number of firms with their parent companies located outside Hong Kong.
The encouraging results represent more than a vote of confidence in Hong Kong by these businesses and entrepreneurs. They also mean our solid efforts in facilitating business establishment and operation, and in creating an enabling ecosystem for start-ups, are bearing fruit.
Over the past year, we introduced a series of measures to enhance Hong Kong’s listing mechanism and stock market. The results are clearly encouraging: the Hang Seng Index surged about 30 per cent last year, while average daily turnover rose to over US$32 billion.
Hong Kong has long been recognised as a hub for asset owners and family offices. At the end of 2024, we managed more than US$4.5 trillion in assets, 11 times our GDP – a year-on-year growth of 13 per cent.
As the world’s largest offshore Renminbi business hub, Hong Kong processes about three quarters of global offshore Renminbi payments and has the largest offshore Renminbi liquidity pool.
The launch, also last year, of offshore Renminbi repurchase and cross-boundary repurchase businesses has boosted Renminbi liquidity channels. These arrangements provide investors with greater convenience, and more stable support, in obtaining liquidity and accessing the onshore repurchase business.
In international bond issuance by Asian institutions, the volume arranged by Hong Kong in 2024 totalled more than US$130 billion, accounting for about 30 per cent of the market.
Hong Kong is also a leading green and sustainable finance hub. In 2024, the volume of green and sustainable bonds arranged in Hong Kong amounted to about US$43 billion, capturing 45 per cent of the regional total and topping the Asian market for seven consecutive years.
Remarks by SFST at agreement signing ceremony with Shanghai Gold Exchange (English only)
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 agreement signing ceremony with the Shanghai Gold Exchange at the Asian Financial Forum today (January 26):
Deputy Governor Zou (Deputy Governor of the People’s Bank of China, Mr Zou Lan), Vice Mayor Wu Wei (Member of the Standing Committee of the Communist Party of China (CPC) Shanghai Municipal Committee and Executive Vice Mayor of the Shanghai Municipal People’s Government, Mr Wu Wei), Director Zhou (Executive Deputy Director of the Office of the Financial Commission of the CPC Shanghai Municipal Committee, Mr Zhou Xiaoquan), Chairman Yu (Chairman of the Shanghai Gold Exchange, Mr Yu Wenjian), distinguished guests, ladies and gentlemen,
HKMA RMB Business Facility doubles to RMB200 billion in size
Source: Hong Kong Government special administrative region
HKMA RMB Business Facility doubles to RMB200 billion in size
The guidance to RBF quota application, terms and conditions, as well as operation procedures can be found on the HKMA websiteIssued at HKT 10:45
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