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Source: Hong Kong Government special administrative region – 4

The Financial Secretary, Mr Paul Chan, arrived in London, the United Kingdom (UK), yesterday (London time, November 25) and commenced his visit.

Upon arrival, Mr Chan met with representatives from family offices across Europe, the Middle East and Asia. He highlighted Hong Kong’s investment opportunities in the areas of finance and innovation and technology (I&T), the city’s vibrant ecosystem for philanthropy and impact investing, and its high-quality living environment. He welcomed them to establish a presence in Hong Kong. Mr Chan also held a meeting with a financial institution that is planning to set up operations in the city.

Later, Mr Chan paid a courtesy call on the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the United Kingdom, Mr Zheng Zeguang. They exchanged views on Hong Kong’s future development and China-UK relations.

In the evening, Mr Chan attended the Hong Kong Dinner hosted by the Hong Kong Trade Development Council and delivered a keynote speech, during which he briefed political and business leaders in the UK on Hong Kong’s latest developments and emerging opportunities.

Mr Chan pointed out that exchanges between Hong Kong and the UK in the areas of trade, investment and culture have become more frequent over the past year. Bilateral trade continues to grow, and two-way investment is expanding.

He stressed that the “one country, two systems” principle continues to be the cornerstone of Hong Kong’s prosperity. Hong Kong’s rule of law and common law system remain robust and are widely recognised internationally. Over the past year, international capital has continued to flow into Hong Kong, and more multinational enterprises have expanded their presence in the city — a clear reflection of international confidence in Hong Kong’s business environment. For instance, the Hang Seng Index has risen by around 30 per cent this year following an 18 per cent increase last year. Hong Kong also leads the world in initial public offering (IPO) fundraising. Its asset and wealth management business as well as bank deposits have also continued to grow. These positive developments have attracted more international financial institutions to set up operations in the city.

On the economic front, Hong Kong has recorded gross domestic product (GDP) growth for 11 consecutive quarters, with the full-year growth forecast revised upward to 3.2 per cent. Tourism and MICE (meetings, incentives, conventions and exhibitions) activities have rebounded strongly, with visitor arrivals expected to reach 49 million this year.

Looking ahead, Mr Chan said that finance and I&T are two major engines driving Hong Kong’s growth. In finance, Hong Kong is further strengthening its role as a “super connector” — helping Mainland enterprises go global while actively fostering closer ties with markets in the Middle East, Southeast Asia and Central Asia. Key initiatives include facilitating mutual access through mutual listing of exchange-traded funds (ETFs) and strengthening regulatory co-operation. Technology is also empowering Hong Kong’s capital markets. Nearly 60 per cent of IPO fundraising this year came from new economy companies, reflecting the effectiveness of recent listing regime reforms.

At the same time, Hong Kong is becoming a global leader in digital assets and Web3. The city recently issued the world’s largest tranche of tokenised green bond, marking a step forward in asset tokenisation. Regulatory regimes are also in place for digital assets and stablecoins. Meanwhile, Hong Kong is also building new growth sectors. So far this year, 12 metal warehouses in the city have been approved by the London Metal Exchange, supporting Hong Kong’s development into a commodity trading hub. Plans are also underway to develop an international gold trading centre.

In I&T, Mr Chan noted that Hong Kong is focusing on areas where it has a competitive edge — including artificial intelligence, biotech, fintech, and new energy and new materials. As part of its efforts to attract high-quality enterprises, the Office for Attracting Strategic Enterprises has successfully brought in over 100 high-impact tech companies over the past three years. These include leading global pharmaceutical firms such as AstraZeneca and GSK from the UK.

Mr Chan highlighted that the Northern Metropolis will serve as a key platform for driving I&T development. The Government is accelerating development in the area, including easing planning restrictions and adopting more flexible development models such as large-scale land disposals for high-impact projects, to drive the deep integration of land use and industry development. Preferential policy packages will also be introduced to attract top-tier enterprises. The Lok Ma Chau Loop area will become a cross-boundary innovation corridor, where capital, talent, goods, data and even biosamples will flow seamlessly from the Mainland to Hong Kong. These will be particularly appealing to international firms in the fields of AI and biotech.

In conclusion, Mr Chan said that Hong Kong’s development prospects remain bright. He welcomed more UK enterprises and professionals to invest, do business, and pursue career development in Hong Kong to seize the vast opportunities ahead.

Mr Chan will continue his visit in London today (London time, November 26), before proceeding to Milan, Italy for the next leg of his trip.

Source: Hong Kong Government special administrative region – 4

     The Transport Department (TD) today (November 26) said that special traffic and transport arrangements will be implemented to facilitate the holding of a ceremony event at Kai Tak Stadium on the evenings of November 28 and 29. As traffic in the vicinity of the Kai Tak Sports Park (KTSP) is expected to be heavy, spectators should opt for public transport and avoid driving or taking private cars (including cross-boundary private cars).

     The TD has co-ordinated with local and cross-boundary public transport operators to strengthen their services during dispersal. The MTR will enhance the frequency of trains of the Tuen Ma Line. The last MTR train to Lo Wu Station via interchanging at Tai Wai Station on the East Rail Line will depart from Sung Wong Toi Station at 10.59pm and Kai Tak Station at 11.01pm. Franchised bus companies will provide 11 special bus routes at the Sung Wong Toi Road Pick-up/Drop-off Area (PUDOA) to Lok Ma Chau (San Tin) Public Transport Interchange (route No. SP12), the Hong Kong-Zhuhai-Macao Bridge Hong Kong Port and Airport (route No. A25S), and major districts across the territory.

     Spectators who plan to return to the Mainland on the same day may also take the KTSP’s cross-boundary coach services during dispersal. Passengers should purchase tickets from the operators’ online platforms in advance. On-site ticket sales will not be available during dispersal.

     The Kai Tak Stadium Taxi PUDOA will be open. The Sung Wong Toi Road PUDOA will be open for taxi drop-off only during admission (4pm to 6.30pm) and suspended for taxi pick-up/drop-off during dispersal. The expected waiting time will be longer amid the outflux of spectators, and passengers’ patience is appreciated.

     Spectators are advised to heed real-time information via the on-site broadcast and the “Easy Leave” platform (easyleave.police.gov.hk) as well as the latest traffic news through the TD’s website (www.td.gov.hk), the “HKeMobility” mobile application and radio and television broadcasts.

Source: Hong Kong Government special administrative region

     Following is the speech by the Chief Executive, Mr John Lee, at International Railway Safety Council 2025 today (November 26):

Honourable Deputy Administrator Wang Qiming (Deputy Administrator of the National Railway Administration of the People’s Republic of China), Dr Rex Auyeung (Chairman of MTR Corporation), Dr Ann Mills (Core Group Secretary of the International Railway Safety Council), distinguished guests, ladies and gentlemen,

Source: Hong Kong Government special administrative region – 4

The Secretary for Security, Mr Tang Ping-keung, and Vice Mayor of the Shenzhen Municipal People’s Government Mr Luo Huanghao co-chaired a meeting of the task force on the collaboration for the planning and development of Hong Kong-Shenzhen control points in Hong Kong today (November 26) to continue taking forward relevant work in the planning and development of boundary control points (BCPs).

Mr Tang welcomed the arrival in Hong Kong of the Shenzhen Municipal People’s Government leaders, as well as representatives of the Office of Port of Entry and Exit of the Shenzhen Municipal People’s Government and other relevant units to participate in the task force meeting. Noting that the flow of people between Hong Kong and Shenzhen continues to increase, Mr Tang said that the governments of the two sides attach great importance to the planning, development and management of BCPs, maintaining close collaboration and continuously optimising boundary-crossing services. Both parties strive to enhance the capacity and operational efficiency of BCPs, injecting new momentum to enhance the convenience of people’s livelihood and the integrated development of industries.

During the meeting, the two delegations discussed the planning and development of land BCPs, including reporting progress and exchanging views on the redevelopment projects of Huanggang and Sha Tau Kok BCPs. Concluding the meeting, Mr Tang said that the task force serves as a co-operative platform for developing convenient and efficient BCPs. He said he hopes that both sides would continue to collaborate on innovation to promote smart clearance and the upgrade of infrastructure, with a view to facilitating the smooth flow of people and goods and jointly promoting the development of the Guangdong-Hong Kong-Macao Greater Bay Area.

Other Hong Kong Special Administrative Region Government officials attending the meeting included representatives from the Hong Kong Customs and Excise Department, the Immigration Department, the Architectural Services Department, and the Department of Health.

Source: Hong Kong Government special administrative region – 4

The Police today (November 26) reminded members of the public that in order to facilitate the holding of Oxfam Trailwalker 2025, the following special traffic arrangements will be implemented in the New Territories from November 27 to 30.

Road closure
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The following roads will be closed during specified periods, except for the vehicles with a permit:

– Sai Kung Man Yee Road from a point about 3.3 kilometres south of its junction with Tai Mong Tsai Road to a point about 8.8 kilometres south of the same junction will be closed from 6am to 4pm on November 28;
– Sai Kung Man Yee Road from its junction with Tai Mong Tsai Road to a point about 3.3 kilometres south of the same junction will be intermittently closed from 7.45am to 3.30pm on November 28;
– Tai Mong Tsai Road between Pak Tam Chung Physically Handicapped and Able-bodied Site and Sai Kung Man Yee Road will be intermittently closed from 7.45am to 2.15pm on November 28;
– Shatin Pass Road between Lions Pavilion and Kwun Ping Road will be closed from 9am on November 28 to 4pm of the following day;
– Chuk Yeung Road between Shan Liu and Wong Chuk Yeung will be closed from 1pm on November 28 to 7am of the following day;
– Golden Hill Road will be closed from 1pm on November 28 to 9pm of the following day;
– Tai Mo Shan Road east of its junction with Route Twisk will be closed from 4pm on November 28 to 3pm on November 30; and
– Tsing Ying Road between the exit and entrance (Gate 1) of Harrow International School Hong Kong and the gate of Crossroads Foundation will be closed from 6pm on November 28 to 3pm on November 30.

Suspension of parking spaces
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All parking spaces (including 23 metered parking spaces and other parking spaces) in the carpark adjacent to Rotary Park on Tai Mo Shan Road will be suspended from noon on November 27 to 3pm on November 30.

All parking spaces in the public car park adjacent to Sai Sha Road Barbecue Area Site No.4 will be suspended from 10pm on November 27 to 8am on November 29.

Twenty-seven parking spaces in Pak Tam Chung Coach Carpark will be suspended from 0.01am to 3pm on November 28.

All parking spaces in the Pak Tam Chung Public Carpark will be suspended from 0.01am to 3pm on November 28.

The Police will implement appropriate arrangements subject to the prevailing traffic conditions in the area. Motorists are advised to exercise tolerance and patience and take heed of instructions of police officers on site.

Source: Hong Kong Government special administrative region – 4

A Government spokesman announced today (November 26) that an advanced therapy product has been approved for registration under the “1+” drug approval mechanism for the first time. This advanced therapy product is used to treat patients with multiple myeloma, bringing more treatment options for patients. The Government continues to strive to accelerate the introduction of innovative drugs and medical devices so that patients can gain early access to advanced diagnoses and treatments, while developing Hong Kong into an international health and medical innovation hub.

New drug approved
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The Hong Kong Special Administrative Region (HKSAR) has implemented the “1+” mechanism since November 1, 2023, to facilitate the registration of new drugs used for the treatment of life-threatening or severely debilitating diseases in Hong Kong. With effect from November 1 last year, the “1+” mechanism has been extended to all new drugs, including all new chemical or biological entities and new indications, and vaccines and advanced therapy products. New drugs that are supported by local clinical data and recognised by local experts can be applied for registration in Hong Kong by submitting approval from one reference drug regulatory authority (instead of two in the past).

The above new drug used for the treatment of multiple myeloma has been approved by the drug regulatory authority in the Chinese Mainland and is the first advanced therapy product approved for registration under the expanded “1+” mechanism. This new drug is both a gene therapy product and somatic cell therapy product, which is used for treatment of multiple myeloma by means of genetically modified T-cells with additional genetic sequence for chimeric antigen receptor (i.e. CAR-T cells). Having evaluated the clinical data and relevant information submitted by the applicant and advice given by local expert, the Registration Committee under the Pharmacy and Poisons Board of Hong Kong considered that the new drug satisfied the criteria of safety, efficacy and quality, and approved the registration of the new drug. The Department of Health (DH) has already notified the applicant of the result of the application.

Paving the way towards primary evaluation
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Since the implementation of the “1+” mechanism, a total of 16 new drugs, including the above drug, have been approved under this mechanism. Seven of them have been listed in the Hospital Authority Drug Formulary. The DH has been promoting the “1+” mechanism through different channels and so far has received more than 660 enquiries from over 170 pharmaceutical companies, including those from overseas and the Mainland. Many companies have expressed interests in submitting applications for registration of their products, including advanced therapy products, under the extended “1+” mechanism. Since the launch of the pre-new drug application consultation service in March this year, the DH has already held a number of briefing seminars and workshops. The DH will also have pre-new drug application meetings to be rolled out shortly, to enhance the efficiency in processing relevant applications.

“The Chief Executive’s 2025 Policy Address” announced that the Government will accelerate the reform of the regulatory system of drugs and medical devices, thereby consolidating Hong Kong’s position as an international health and medical innovation hub. The DH will expedite the “1+” mechanism for new drugs, piloting priority evaluation and approval of innovative drugs as recommended by the Hospital Authority for treatment of severe or rare diseases and to accelerate patients’ use of the advanced treatments. The DH will establish the Hong Kong Centre for Medical Products Regulation by the end of next year, and implement “primary evaluation” for new drug registration in phases beginning next year. The DH will continue to proactively advance preparatory work for “primary evaluation” for new drug registration and progressively establish a robust approval system, providing strong momentum for the development and market expansion of the healthcare industry in the HKSAR, the Mainland, and beyond, thereby transforming Hong Kong into an international health and medical innovation hub.

Source: Hong Kong Government special administrative region – 4

A fire broke out at Wang Fuk Court in Tai Po at 2.51pm today (November 26). The fire was upgraded to No. 3 alarm at 3.02pm, and to No. 4 alarm at 3.34pm.

As at 5pm, seven persons felt unwell and were sent to Alice Ho Miu Ling Nethersole Hospital and Prince of Wales Hospital for treatment respectively, among which, four persons were certified dead, two persons are in critical condition and one person is in stable condition.

Source: Hong Kong Government special administrative region – 4

Due to the fire incident at Wang Fuk Court, Tai Po, the Tai Po District Office (TPDO) today (November 26) has opened temporary shelters at Kwong Fuk Community Hall (Kwong Fuk Estate, Tai Po) and Tung Cheong Street Community Hall (1/F, Tai Po Tung Cheong Street Leisure Building, 25 Tung Cheong Street, Tai Po) for residents in need. CCC Fung Leung Kit Memorial Secondary School is also open to accommodate residents evacuated.

In addition, the TPDO has set up a help desk at Alice Ho Miu Ling Nethersole Hospital for assistance and public enquiries. The help desk hotline is 2658 4040.

The TPDO will closely monitor the situation, open additional temporary shelters if needed, and liaise with other government departments to provide residents with appropriate assistance.

Source: Hong Kong Government special administrative region – 4

Hong Kong Customs will set up a booth at the JMA Hong Kong International Jewelry Show (JMA), to be held at the Hong Kong Convention and Exhibition Centre (HKCEC), from tomorrow (November 27) for four consecutive days to publicise the Dealers in Precious Metals and Stones Regulatory Regime and will provide on-site counter services to assist non-Hong Kong dealers in submitting cash transaction reports during their participation in the exhibition.

According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), unless exempted, any person who is seeking to carry on a business of dealing in precious metals and stones and engage in any transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 in Hong Kong is required to register with Hong Kong Customs and fulfil his/her anti-money laundering and counter-terrorist financing statutory obligations as appropriate. All dealers in precious metals and stones must successfully obtain relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above HK$120,000.

For non-Hong Kong dealers fulfilling the prescribed conditions (including those who come to Hong Kong to participate in exhibitions), although they are exempt from registration, they are required to submit to Hong Kong Customs a cash transaction report for any cash transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 carried out in Hong Kong within one day after the transaction, or before the dealer or the person acting on behalf of the dealer leaves Hong Kong, whichever is earlier.

Non-Hong Kong dealers can make an online submission of a cash transaction report via the Regime’s webpage at www.drs.customs.gov.hk by accessing the Dealers in Precious Metals and Stones Registration System. Details of the submission procedures are set out at www.drs.customs.gov.hk/information/43_nonHongKongDealers.

Non-Hong Kong dealers can also download the related form at www.drs.customs.gov.hk/download/drsform/CED418_Form%208_Cash%20transaction%20report.pdf and then submit the report in person at Hong Kong Customs’ booth at the JMA.

The Hong Kong Customs’ booth (Booth 1CON01) is located at HKCEC Hall 1 Concourse and will be open from 10am to 6.30pm on November 27, from 10am to 7pm on November 28 and 29, and from 10am to 6.30pm on November 30.

Dealers can visit the website (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html) for more information about the Regime.

Source: Hong Kong Government special administrative region – 4

Due to the fire incident at Wang Fuk Court, Tai Po, the Tai Po District Office (TPDO) today (November 26) has opened the following additional temporary shelters for people in need:

Name	Address
Tai Po Community Centre	Heung Sze Wui Street, Tai Po
Fu Shin Community Hall	12 On Po Road, Tai Po
“Good House” (The Society of Rehabilitation and Crime Prevention)	168 Shuen Wan Chan Uk, Tai Po

The TPDO has opened temporary shelters at Kwong Fuk Community Hall (Kwong Fuk Estate, Tai Po) and Tung Cheong Street Community Hall (1/F, Tai Po Tung Cheong Street Leisure Building, 25 Tung Cheong Street, Tai Po) earlier today for residents in need. CCC Fung Leung Kit Memorial Secondary School is also open to accommodate residents evacuated.

In addition, apart from the interdepartmental help desk at Alice Ho Miu Ling Nethersole Hospital set up by the TPDO earlier today (hotline:2658 4040), the Sha Tin District Office has set up an interdepartmental help desk at Prince of Wales Hospital (hotline: 3505 1555) for assistance and public enquiries.

The District Offices will closely monitor the situation, open additional temporary shelters as needed, and liaise with other government departments to provide residents with appropriate assistance.