MIL Asia Pacific Publishing Engine

Source: Republic of China Taiwan

On the afternoon of November 27, President Lai Ching-te presided over the sixth meeting of the Healthy Taiwan Promotion Committee. In his opening statement, the president expressed his gratitude for the Taiwan e-Hospital online medical consultation website established by the Ministry of Health and Welfare, and the “100 Doctors Forum” program released by the Cih Yue Charity Foundation, all accomplished with the support of various ministries, agencies, and experts, noting that these initiatives not only raise the public’s health literacy but also demonstrate the achievements of cross-sector cooperation.
President Lai noted that Taiwan has become a super-aged society, and that with dramatic increases in demand for long-term care, the government is launching the Long-term Care 3.0 Plan to achieve the vision for healthy aging, aging in place, and dignified end-of-life care. In addition, the president stated that starting from the global governance context of One Health, we are proposing an integrated national epidemic prevention policy, in the hope of protecting the health of the people of Taiwan and enhancing societal resilience through public-private cooperation.
A translation of President Lai’s opening statement follows:
Today is the sixth meeting of the Healthy Taiwan Promotion Committee. I would like to thank all the advisors and committee members for their many valuable suggestions over the past year, helping the administrative team, civil society groups, and front-line healthcare personnel jointly promote Healthy Taiwan policies. For example, at the third committee meeting in February this year, I mentioned that a Healthy Taiwan e-learning platform should be established to improve public awareness of various diseases by drawing on the knowledge of experts in various fields.
Now, the Ministry of Health and Welfare (MOHW) has set up a Taiwan e-Hospital website that incorporates 32 hospitals, covers 33 clinical departments such as internal medicine, obstetrics and gynecology, and dermatology, and includes a total of over 200 attending physicians, nutritionists, pharmacists, and nurses who provide free online medical consultations.
The “100 Doctors Forum” program, filmed with resources from the private Cih Yue Charity Foundation, also came online at the end of October. The program addresses the top ten causes of death in Taiwan and other common diseases, inviting the top 100 physicians with the most public trust and clinical experience in the country to deliver accurate and practical health knowledge in a simple and easy-to-understand manner.
These advances crystalize the wisdom and efforts of all the advisors and committee members, and here I would like to thank the experts from various fields for their generous advice. I also want to thank the administrative team for actively implementing those initiatives, making our vision a reality.
In addition to a status report on items listed at the last meeting, today’s agenda also includes two reports from the MOHW on the Long-term Care 3.0 Plan and the integrated national epidemic prevention policy.
Beginning in 2007, Taiwan began promoting the National Ten-year Long-term Care Plan. Over the past 18 years, that plan has upheld the principles of diversified accessibility and aging in place, broadly distributing service resources and expanding the number of services available so that the public can enjoy convenient and affordable services.
Especially after the Long-term Care 2.0 Plan was implemented in 2017, long-term care expenditures and caregiver workforce, as well as the number of patients served and long-term care service sites have all grown dramatically. Taiwan’s long-term care system is now better, more affordable, and more accessible. The system has a service satisfaction rating of up to 90 percent and is widely praised by the public.
But we cannot let these achievements make us complacent. This year, Taiwan has become a super-aged society, and with a rapidly growing elderly population, long-term care programs face many severe challenges. We will therefore proactively launch Long-term Care 3.0 next year to enhance all aspects of long-term care.
We will adopt a human-centered and community-based approach, and achieve our health promotion and active rehabilitation goals through various forward-looking, effective strategies. We will also introduce smart care, bolster family support, and increase the capacity of institutions, so that medical care can be more closely integrated.
Today we will hear a report presenting a complete plan to respond to the long-term care service needs and diversified challenges of the future, thereby achieving the Long-term Care 3.0 vision for healthy aging, aging in place, and dignified end-of-life care.
In addition to the challenges of a super-aged society, emerging infectious pathogens, climate change, and ecosystem changes in recent years have also impacted human, animal, and plant health. Avian flu, mad cow disease, COVID-19, and dengue fever are all familiar infectious diseases, and they are all closely connected to the ecosystem.
Faced with complex and ever-changing circumstances, we must start from the global governance context of One Health and propose an integrated national epidemic prevention policy that sees the health of humans, animals, plants, and the environment as a whole. We must combine cross-ministry and cross-domain expertise to form a “community of action,” integrate institutional frameworks, and propose integrated cross-departmental countermeasures. We must also be proactive to protect the health of the people of Taiwan and enhance societal resilience.
The Healthy Taiwan initiative requires the participation of all citizens. Once again, I want to thank all the advisors and committee members for doing their utmost and contributing their expertise to enable the government to plan policies from a more diverse perspective. I would also like to thank the administrative team and civil society groups for actively implementing various policies through public-private cooperation, and working together for the health of the people of Taiwan. Thank you.
Following his statement, President Lai heard a report on the progress of certain items listed in the fifth committee meeting from Deputy Executive Secretary and MOHW Minister Shih Chung-liang (石崇良), a report on the Long-term Care 3.0 Plan from MOHW Deputy Minister Lue Jen-der (呂建德), and a report on the integrated national epidemic prevention policy from MOHW Deputy Minister Chuang Jen-hsiang (莊人祥). Afterward, President Lai exchanged views with the committee members regarding the content of the reports.

Source: Hong Kong Government special administrative region – 4

The Labour Department (LD) said today (November 27) that it is deeply saddened by the fire incident at Wang Fuk Court in Tai Po. The LD extends its deepest condolences to those who tragically lost their lives and wishes all the injured a speedy recovery.

The LD also extends its heartfelt sympathies to the families and employers of the foreign domestic helpers (FDH) who lost their lives in the incident. Affected FDH employers and FDHs who have any enquiries regarding employment matters may call the LD’s dedicated hotline set up for this incident at 3582 8987 (for FDH-related matters), or 2929 4054.

Source: Hong Kong Government special administrative region – 4

A spokesperson for the Home and Youth Affairs Bureau stated today (November 27) that in order to provide relief to residents of Wang Fuk Court in Tai Po, the Special Administrative Region Government set up a “Support Fund for Wang Fuk Court in Tai Po” with a start-up capital of $300 million dollars to render assistance to residents of Wang Fuk Court and support all relevant works.

The Support Fund will receive donations from individuals and private organisations. Details of the relevant designated accounts are as follows:

Hong Kong Dollar: Bank of China (Hong Kong) Limited account number: 012-875-2-190159-7 (Account name: Support Fund for Wang Fuk Court in Tai Po)

Renminbi and other currencies: Bank of China (Hong Kong) Limited account number: 012-875-2-190160-7 (Account name: Support Fund for Wang Fuk Court in Tai Po)

The spokesman said, “We would like to express our gratitude to the many charitable organisations and members of the public who are planning to donate supplies to the affected residents and help them through this difficult time. The available supplies for the next few days are sufficient.”

To better address the needs of the residents in the next phase, the Government is now co-ordinating with the information technology sector to establish an online platform as soon as possible. This platform will allow relevant organisations and members of the public to register the items they can donate, enabling the Government to better consolidate the information and distribute the supplies to residents in need when necessary. The platform is expected to be completed within the coming days. At this stage, organisations and members of the public can register their details and the supplies they can donate via WhatsApp at 9213 2388, so that the Government can consolidate the information and contact the relevant parties when needed.

Source: Hong Kong Government special administrative region – 4

The Labour Department (LD)’s spokesman today (November 27) said that the department is highly concerned about the No. 5 alarm fire at Wang Fuk Court, Tai Po, yesterday (November 26). The LD is saddened that the fire has caused multiple casualties and expresses its deepest sympathies to the victims’ families and the injured persons.

The LD will launch a two-week territory-wide special enforcement operation tomorrow, targeting the fire protection facilities and fire emergency preparedness of building maintenance work sites with large-scale scaffolding erected. This includes checking if protective screens (also known as scaffold nets) are in compliance with recognised standards for fire-retardant materials to ensure work safety. Meanwhile, the LD will also work with the Buildings Department to inspect buildings undergoing major external wall repairs with large-scale bamboo scaffolds erected so as to ensure that scaffold nets installed on the scaffolds comply with the requirements of relevant Code of Practice/Guidance Notes.

If any violations of the legislation are detected during the inspection exercise, occupational safety officers of the LD will take rigorous enforcement actions, including issuing suspension notices and improvement notices, and taking out prosecutions without prior warning, in order to deter unsafe operations.

Due to the recent dry weather, the LD strongly urges and warns all contractors that they should take notice of the fire risk of the site, particularly the need to enhance the fire safety of the bamboo scaffold, to ensure relevant materials are in compliance with the fire safety standards and clear up the debris regularly; smoking at site areas is strictly prohibited. While conducting hot work processes (such as welding and flame-cutting which may produce sparks), the safety measures devised from relevant risk assessment should be strictly followed, and sufficient and effective firefighting equipment should be in place. Contractors should further step up fire safety management to prevent fire incidents, ensure the safety of construction sites and workers and avoid recurrence of yesterday’s tragic fire in Tai Po .

The LD also appeals to employers to be considerate to employees who are unable to work as usual due to the impact of the Tai Po fire, and to provide flexible work arrangements wherever possible to help them through this difficult period. Employers and employees may call the dedicated hotline 2929 4054 in case of enquiries on employment-related matters.

Source: Hong Kong Government special administrative region – 4

A Government spokesman said today (November 27) that, in view of the No. 5 alarm fire at Wang Fuk Court in Tai Po that has caused multiple casualties, the Chief Executive convened another cross-departmental meeting this morning to co-ordinate all policy bureaux and departments, actively advancing the response efforts in four key areas: extinguishing the fire and rescuing trapped residents, treating the injured, providing post-incident support, and conducting a comprehensive investigation.

In terms of rescue efforts, among the eight buildings in Wang Fuk Court, the fires in seven affected blocks are largely under control. The Fire Services Department (FSD) is continuing its full effort to complete the search and rescue and firefighting operations on the remaining floors. During the fire, the FSD received 346 requests for assistance and has handled 296 of them.

On medical support, the Primary Healthcare Commission co-ordinated professionals from the public and private medical sectors, including over 250 doctors and more than 250 other healthcare professionals from the private sector, to set up medical stations at all temporary shelters. The medical stations provide appropriate medical assistance for residents in need from 8am to 8pm daily, including basic medical assessments and referral services, treatment of mild injuries, drug prescriptions (including necessary medication refills based on one’s medical history), and psychological support, with a view to assisting in managing non-emergency medical needs.

As for post-incident support, the Chief Executive has instructed the Civil Service Bureau to activate the “Government-wide Mobilisation” mechanism to ensure sufficient manpower for all necessary follow-up actions. Meanwhile, all government-organised celebratory events will be cancelled or postponed, and officials will reduce attendance at non-essential public activities to focus on relief and recovery efforts. The Government will arrange memorial activities, including flying flags at half-mast at government buildings, holding memorial services and setting up condolence books to allow the public to express their sorrow and condolences. Further details will be announced later.

To meet the short- and medium-term accommodation needs of affected residents, the Government has opened nine shelters, which are currently being used by over 500 residents. The Home and Youth Affairs Bureau has contacted youth hostels and hotels, which will provide around 1 000 units for affected residents to stay in immediately for one to two weeks. The Government is also co-ordinating resources for transitional housing and dedicated rehousing units from the Hong Kong Housing Society, with an estimated 1 800 units to be made available later to meet the accommodation needs of the affected residents.

In addition, the Social Welfare Department (SWD) has mobilised social workers, clinical psychologists and support staff to provide “one social worker per household” assistance to affected residents, including emotional support, financial assistance, and residential care and occasional child care services. The SWD will maintain close liaison with relevant government departments to provide all necessary assistance to those affected.

The Education Bureau (EDB) immediately contacted the school heads associations in Tai Po and schools near Wang Fuk Court to co-ordinate class suspension arrangements for the affected schools. It also deployed staff to the temporary shelters to provide emotional support for affected students. The EDB will maintain close communication with the school heads associations and schools in the district, and continue to provide them with necessary assistance and support services.

Starting tonight, the Government will provide an emergency cash subsidy of HK$10,000 to each affected household to offer immediate relief. At the same time, the Government has established the “Support Fund for Wang Fuk Court in Tai Po”, allocating HK$300 million as start-up capital to assist residents and support all relevant work. The fund began accepting donations from 7pm this evening. Its designated bank accounts at the Bank of China (Hong Kong) are: HKD donation account 012-875-2-190159-7 and foreign-currency donation account 012-875-2-190160-7, enabling contributions from all sectors of the community to support the victims.

As for funeral arrangements for the deceased, if affected residents require cremation services or columbarium niches, the Food and Environmental Hygiene Department will make special arrangements and provide full support.

Regarding investigations, Police arrested two male directors and a male engineering consultant of a construction company in the small hours today. They are being detained for further enquiries. Police have also seized for further inspection materials at the scene that may not have met regulatory standards. Once the fire is extinguished and on-site safety is confirmed, Police will co-ordinate with the FSD to gather evidence and conduct a thorough investigation to ascertain the cause of the fire.

Separately, the Buildings Department (BD) and the Independent Checking Unit of the Housing Bureau today issued a letter to all registered building professionals and registered contractors requiring them to review relevant records or test certificates relating to fire retardant properties of the protective nets and the like used in scaffolds for ongoing projects (buildings under construction or existing buildings under maintenance). They must submit a report to the BD within seven days, after which the BD will conduct audit checks. At the same time, the Architectural Services Department (ArchSD) has required contractors of building projects under public works contracts to review and submit the above-mentioned information within seven days. The ArchSD will also conduct audit checks.

The BD also launched today a special operation to inspect in batches all existing buildings that are currently undergoing external wall renovations with scaffolding and protective nets. The BD will proactively check the records or test certificates relating to fire retardant properties of the protective nets and the like used in scaffolds, and collect samples for testing. Regarding sample testing, the Government is also appealing for assistance from the Mainland to enhance testing capacity.

The registered contractor responsible for the maintenance works at Wang Fuk Court is currently involved in 11 other private residential building projects. The BD inspected the relevant sites today and will take any appropriate follow-up action.

In addition, the Development Bureau (DEVB) today met with the industry to discuss the roadmap for advancing the replacement of bamboo scaffolding with metal scaffolding. At the meeting, the DEVB also requested the industry’s co-operation with the above-mentioned inspection and audit checks. The BD will review the relevant requirements, guidelines and legislation regulating the erection of scaffolding (whether metal or bamboo) and associated protective nets, and will consider whether there is a need for strengthening or enhancement.

As at 8pm today, the No. 5 alarm fire in Tai Po has resulted in 65 deaths and 77 injuries, including one fireman among the deceased. To better co-ordinate the follow-up actions, the Hong Kong Special Administrative Region Government has established three working groups, namely an inspection and regulatory working group led by the Chief Secretary for Administration, an emergency assistance and fundraising group led by the Deputy Chief Secretary for Administration, and an emergency residential arrangement working group led by the Deputy Financial Secretary, and has been actively taking forward the relevant work.

Source: Hong Kong Government special administrative region – 4

The No. 5 alarm fire at Wang Fuk Court in Tai Po has caused multiple casualties and the relevant departments are conducting a comprehensive investigation. The Development Bureau (DEVB), together with the Buildings Department (BD), met with the construction industry today (November 27) to discuss the follow-up actions related to the sector.

Chaired by the Secretary for Development, Ms Bernadette Linn, the meeting was attended by representatives from the Construction Industry Council, contractors’ associations, subcontractors’ associations, trade contractors’ associations, and labour unions. Ms Linn explained the follow-up inspections by the relevant departments (Notes) and requested the industry to cooperate.

Ms Linn also noted that the BD will review the requirements, guidelines, and regulations concerning scaffolding and protective nets, and will listen to the views of the industry.

Ms Linn further said that although the tragedy is suspected to have been caused by non-compliance from some industry practitioners rather than the use of bamboo scaffolds, bamboo scaffolds are indeed less fire-resistant than metal scaffolds. While the use of bamboo scaffolds has a long history in Hong Kong and offers more flexibility in adapting to certain narrow streets and building environments compared to metal scaffolds, the Government considers it necessary to develop a roadmap to switch to metal scaffolds as soon as possible under suitable worksite conditions. This aims to reassure the public and to provide better safeguards for construction safety. Industry representatives expressed understanding and support, agreeing to formulate an action plan with a clear direction that is not “one-size-fits-all”. The next step is to identify work scenarios most suitable for switching to metal scaffolds (for example, new building projects and maintenance works at existing buildings along wider streets), followed by setting an ambitious roadmap for projects fitting those scenarios to switch to metal scaffolds. In formulating the roadmap, three factors should be taken into account, namely, the capacity of bamboo scaffolders and specialist contractors during the transition; the need for a stable source and sufficient supply of metal scaffolds to ensure adequacy; and the arrangements for transportation and storage of metal scaffolds.

Ms Linn said that the Government will consider providing assistance to the industry in terms of training and other resources during the process. The DEVB will put forward a proposal as soon as possible, based on the aforementioned consensus, for further discussion with the industry.

Notes:

1. The BD and the Independent Checking Unit (ICU) of the Housing Bureau (HB) today launched a special operation, issuing circular letters to registered building professionals and contractors. They are required to review the records or test documents for materials, such as scaffolds protective nets, used in ongoing projects, regardless of whether the buildings are under construction or are existing ones under maintenance. The review should include an assessment of the condition of the materials and their compliance with the standards and requirements for fire retardant performance. A report must be submitted to the BD within seven days, after which the BD will conduct audit checks. Meanwhile, the Architectural Services Department (ArchSD) has required contractors of building projects under public works contracts to review and submit the above-mentioned information within seven days. The ArchSD will also conduct audit checks. 
    
2. The BD and the ICU of the HB, with the latter responsible for Home Ownership Scheme courts, today launched a special operation targeting existing buildings undergoing major external wall maintenance, where scaffolds protective nets were erected. Inspections will be conducted in batches for all such projects to proactively check records or relevant test documents for materials such as scaffolding protective nets regarding their fire retardant performance. Samples will also be collected for testing.

Source: Hong Kong Government special administrative region – 4

The following is issued on behalf of the Hospital Authority:
 
The Hospital Authority Chairman, Mr Henry Fan today (November 27) expressed gratitude to Mr Zhuo Ji, Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, and Mr Nong Rong, Deputy Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee, for visiting the injured victims in the fire incident in Tai Po and extending their sympathies to the healthcare staffs.

Mr Zhuo Ji and Mr Nong Rong visited the Prince of Wales Hospital this morning to meet with the injured victims after the Tai Po fire and to learn about their treatment progress. They also conveyed the condolences of Mr Xia Baolong, Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council. During the visit, Mr Zhuo Ji and Mr Nong Rong extended their wishes for the patients’ speedy recovery and hoped they would overcome this difficult period soon.

“We are deeply grateful to Director Zhuo and Deputy Director Nong for conveying President Xi Jinping’s concern and deep condolences to the families of the deceased and injured. We also appreciate the Central Government’s full support for Hong Kong in disaster relief efforts. Our healthcare staff will do their utmost to treat all the injured and will also spare no effort in supporting the affected residents and their families in need, helping them to overcome their difficulties and heal from their trauma,” Mr Fan said.

During their visit to Prince of Wales Hospital, Mr Zhuo Ji and Mr Nong Rong also met with the healthcare staff of Accident and Emergency Department to understand the treatment of the injured. Mr Fan thanked the Central Government for its sympathy to the healthcare staff and encouraged them to continue their dedicated efforts in providing maximum support to all the injured and affected residents.

Source: Hong Kong Information Services

The Labour Department today said it will launch a two-week citywide special enforcement operation tomorrow, targeting the fire protection facilities and fire emergency preparedness of building maintenance work sites with large-scale scaffolding erected.

The department will check if protective screens are in compliance with recognised standards for fire-retardant materials to ensure work safety.

Meanwhile, it will also work with the Buildings Department to inspect buildings undergoing major external wall repairs with large-scale bamboo scaffolds erected so as to ensure that scaffold nets installed on the scaffolds comply with the requirements of relevant Code of Practice/Guidance Notes.

Noting that it is highly concerned about yesterday’s No. 5 alarm fire at Wang Fuk Court, Tai Po, the Labour Department said it is saddened the blaze has caused multiple casualties and expressed its deepest sympathies to the victims’ families and the injured.

If any violations of the legislation are detected during the inspection exercise, the Labour Department’s occupational safety officers will take rigorous enforcement action, including issuing suspension notices and improvement notices, and taking out prosecutions without prior warning, in order to deter unsafe operations.

Source: Hong Kong Information Services

The Education Bureau announced today that five schools will remain suspended tomorrow due to nearby road blockages, as affected by the Tai Po fire and obstructed traffic.

The five schools are CCC Fung Leung Kit Memorial Secondary School, Tai Po Baptist Public School, S.K.H. Yuen Chen Maun Chen Primary School, H.K. & Kowloon Kaifong Women’s Association Sun Fong Chung College, and Po Leung Kuk Lau Chun Kindergarten.

For class suspension arrangements, parents are advised to refer to the latest announcements made by the bureau and the schools.

Regarding Primary 1 Discretionary Places, relevant schools have successfully contacted all affected parents today and made special arrangements for registration procedures.

To assist schools in supporting students in need, the bureau has prepared a crisis management resource kit tailored for the fire incident, which includes counselling suggestions for schools and parents, special class period materials and Q&As to help teachers and parents assist students in coping with the incident.

Furthermore, the bureau has contacted counsellors of the Teachers’ Helpline (tel: 8100 3361) for stepping up their telephone counselling and support.

Educational psychologists and officers of the bureau’s Tai Po District School Development Section will maintain close contact with the schools and continue to provide necessary assistance.

Source: Hong Kong Government special administrative region

     Following is the speech by the Financial Secretary, Mr Paul Chan, at the “Think Business, Think Hong Kong” Symposium in Milan today (Milan time, November 27):

Frederick (Chairman of the Hong Kong Trade Development Council, Professor Frederick Ma), distinguished guests, ladies and gentlemen,

     Ciao. Good morning. 

     Thank you for observing a moment of silence with us together, for the 55 lives lost in a tragic fire that took place in Hong Kong yesterday. Our hearts and thoughts are with all the victims and their families. The HKSAR (Hong Kong Special Administrative Region) Government is now doing as much as we can to help all those who are affected by this very unfortunate incident.  

     To officially begin this Symposium, may I first express our heartfelt thanks to the magnificent city of Milan – Italy’s fast-beating economic heart, and one of the world’s foremost fashion and design capitals, home of elegance, enterprise, for hosting this event. My thanks also go to the Hong Kong Trade Development Council for putting this Symposium together. 

A tale of two cities, two economies

     For long, Hong Kong and Italy have much in common. We share a passion for creativity, craftsmanship, and elegance. Italian style has captured our hearts. 

     Our two cities are gateways connecting continents, blending Eastern and Western ingenuity. And we both thrive on openness, creativity, innovation and entrepreneurial spirit.

     Our economic partnership is flourishing and remarkably diverse, too. In 2024, bilateral merchandise trade reached €7.2 billion. Some 200 Italian companies, from world-beating brands to leading players in banking, insurance, logistics and chocolate, have their regional headquarters, offices or operations in Hong Kong.

     Think business, do business, with Hong Kong

     Today’s symposium is not just about thinking business. It’s about doing business. Together.

     We’ve brought with us an 80-strong delegation of Hong Kong business leaders spanning finance, innovation, technology, logistics, and the creative industries. I invite you to rise. Yes, they’re here to explore opportunities with you, and to invite you to consider the vast possibilities Hong Kong, Asia’s world city, can offer you.  

     For the next few minutes, allow me to explain why Hong Kong is uniquely positioned to be your long-term partner.

One country, two systems: our enduring strength

     Hong Kong’s unique strength is premised on our “one country, two systems” framework. It gives us the best of both worlds: seamless access to the Chinese Mainland’s vast market, and unfettered connectivity with the world, with unparalleled opportunities for business and investment. We are a market economy upholding the common law system with a strong tradition of rule of law, a low and simple tax regime and business practices aligning with the highest international standards.

     We are a free port, maintaining a free flow of goods, capital, information and people.

     And the “one country, two systems” framework is here to stay for the long term, a position reiterated time and again by President Xi Jinping and affirmed at high-level state and party meetings in Beijing.

     The rule of law is a defining feature of our city. Our judiciary exercises its powers independently, and the Court of Final Appeal sits in Hong Kong, with six non-permanent judges from overseas common law jurisdictions such as the United Kingdom, Australia, and New Zealand. 

     Hong Kong also offers robust intellectual property protection. Our legal framework is fully compliant with WTO standards, and our High Court has specialist judges for IP cases. That makes Hong Kong a city you can count on to protect your innovations and creative work. And that, I know, is essential to Italian businesses, where design is both a profession and a passion.

Where Hong Kong stands today

     The Hong Kong economy has, again, had a good year.

     In international reports, Hong Kong continues to be ranked the world’s freest economy, and we are consistently among the top three global financial centres. The IMD World Competitiveness Yearbook this year placed us third, globally. And all three major international credit rating agencies have reaffirmed our strong standing.

     Hong Kong is also the gateway to the GBA – the Guangdong-Hong Kong-Macao Greater Bay Area, a fast-growing, young and affluent market with an increasingly global outlook.

     The GBA has a combined GDP of €1.8 trillion, a population of 87 million, and a per capita GDP of about €20,000. It is a vast and promising market for Italian goods and services, offering opportunities from luxury and lifestyle to technology and healthcare.

     The Greater Bay Area is also a global leader in innovation and technology. This year, the Shenzhen-Hong Kong-Guangzhou science and technology cluster was named the world’s number one innovation cluster by the World Intellectual Property Organization.

     These and other fundamental strengths make Hong Kong a prime springboard for Italian businesses eager to realise opportunities in China and across Asia.

Hong Kong: a leading IFC

     Let me highlight a few areas that I believe will be particularly attractive to Italian businesses, starting with finance.

     Hong Kong is one of the world’s leading international financial centres. Some 70 of the world’s top 100 banks and six of the top 10 global insurance companies operate in our city. 

     Our stock market, with a market capitalisation of €5.3 trillion, and the Hang Seng Index up by more than 25 per cent to date, is among the world’s best performers this year.

     We have a singular advantage: the “Connect Schemes” – that provide mutual-market access between Hong Kong and the Mainland. For international investors, it is a trusted avenue for accessing the Mainland’s capital market. More than 70 per cent of China A-shares’ foreign holdings, for example, were acquired through our Stock Connect Scheme.

     Italian companies like Prada and Ferretti are already listed on the Hong Kong Stock Exchange, and I encourage more Italian companies to pursue dual listings on both Borsa Italiana and the Hong Kong Stock Exchange.

     Through our Southbound Connect, Italian companies can tap into Mainland liquidity, gaining a level of access no other international financial centre can provide.

     We also invite Italian companies and banks to issue Renminbi bonds in Hong Kong. Our vibrant bond market offers multi-currency options, including USD, euro and RMB. Italian banks can use Hong Kong’s Renminbi clearing and settlement system for trade settlement and other Renminbi-denominated financial transactions. That can only enable more efficient trade between Italy and China.

International innovation and technology hub

     Hong Kong is also rapidly developing as an international hub for innovation and technology. We focus on four key areas: artificial intelligence, biotech, fintech, and new energy and new materials.

     Our academic and research capabilities are world-class. Five of our universities are ranked among the global top 100. Three are ranked in the top 20 globally for AI and data science, and two of our medical schools are among the world’s top 25.

     We are now building a more complete innovation value chain, one that integrates basic research, commercialisation and advanced manufacturing. To that end, we are attracting strategic enterprises, either world leaders in their fields or companies engaged in cutting-edge technologies. Over the past three years, we have welcomed more than 100 strategic enterprises to Hong Kong, including four of the world’s top 10 pharmaceutical companies. They are establishing R&D centres, expanding their operations in Hong Kong and investing in our shared future.

     Hong Kong Science Park and Cyberport welcome Italian start-ups and innovators. Our I&T centres provide a range of services, from incubation, funding, professional advisory to market development support. 

     The Northern Metropolis, an area bordering Shenzhen and covering one-third of Hong Kong’s landmass, will be the heart of our I&T future. The San Tin Technopole, a cluster similar to the Milan Innovation District, will rise as one of its innovation hubs.

     We are working closely with Shenzhen, in a co-operation zone along the border. Within that zone, Mainland capital, talent, goods, data and even biosamples will move freely to Hong Kong, giving companies access to both international and Mainland data, a significant advantage for artificial intelligence, bio and pharmaceutical companies looking to tap the vast Chinese market. 

     I invite Italian innovators and companies, particularly those in life sciences, precision engineering, advanced manufacturing, and luxury tech, to establish R&D centres and operations in this Northern Metropolis. There, they can collaborate with tech companies from Hong Kong and the Mainland, along with start-ups, universities and research institutions. 

Culture and creativity

     Finally, let me speak about culture and creativity, an area close to the Italian heart. 

     Hong Kong is Asia’s cultural hub and a rising design hub. Our West Kowloon Cultural District has emerged as a world-class arts and cultural centre. It features M+ Museum, Asia’s global museum of contemporary visual arts, design and architecture, as well as the Hong Kong Palace Museum, with more than 900 treasures from Beijing’s Palace Museum. 

     Business of Design Week, or BODW, opening next Monday, has become Asia’s most anticipated design event, bringing together creative minds from around the world to showcase their innovation and design excellence.

     And we thank Italy for being so kind as the BODW’s Partner Country again this year. Italian contributions to furniture design, textile innovation, the intersection of design with technology and sport, and much more will be featured at the Design Week.

Closing remarks

     Ladies and gentlemen, the opportunities there for us are both wide-ranging and far-reaching, whether you are in luxury goods, industrial design, fintech, biotech, healthcare, logistics or the creative industries.

     Italian businesses can tap into Asia’s dynamism through Hong Kong and our connectivity, financial services, innovation and cultural bridges.

     You’ll hear about that, and much more, in today’s panel discussions and the plenary session beginning in just a few minutes. 

     Let us think business – and do business – together. Build a rewarding future. Together.
     
     Grazie mille. Thank you very much.