MIL Asia Pacific Publishing Engine

Source: Hong Kong Government special administrative region – 4

     The Film Programmes Office (FPO) of the Leisure and Cultural Services Department will present the programme “Food for Thought – A Cinematic Feast” from December 6, 2025 to January 18, 2026, screening cinematic works centred on food at the Hong Kong Film Archive (HKFA), the East Kowloon Cultural Centre (EKCC) and K11 Art House, for audiences to enjoy the tastes of life in films.
 
     Selected films are presented in a “menu” comprising of “Starter”, “Main Course”, “Dessert” and “Today’s Special”. “Kamome Diner” (2006) and “The Lunchbox” (2013) are two of the films in “Starter”. Both are light-hearted pieces telling stories of how delectable food brings strangers closer to each other. The other two films are “Guess Who’s Coming to Dinner” (1967) and “Toast” (2010). The former is seasoned with humour while shedding light on racial relations through the story of a white girl bringing her African boyfriend to a dinner with her parents, while the latter is adapted from renowned British chef Nigel Slater’s childhood memories.
 
     In “Main Course”, one of the films, “Babette’s Feast” (1987), is about the protagonist preparing a French feast for two sisters, who shelter the protagonist after her escape from Paris to Denmark, transforming goodness and grace into food. In “Big Night” (1996), two Italian immigrant brothers go to every length to save the business that they have built in the US. With Meryl Streep’s masterful portrayal of renowned chef Julia Child, “Julie & Julia” (2009) is adapted from the true stories of two women. The story connects the two lives in two eras with a cookbook and illustrates the sense of fulfilment through cooking. Blending documentary with re-enactment, “Cooking History” (2009) traces the stories of cooks and soldiers and joins together six periods in military history with recipes. “First Cow” (2019) brings us back to the American West in the early 19th century to tell the story of two men’s dreams of culinary entrepreneurship.
 
     Four films are highlighted in “Dessert”. “Tampopo” (1985) tells the story of a widow apprenticing under a truck driver with mastery in cooking to keep the doors of her late husband’s ramen shop open. The richly layered subplots of the story are copiously seasoned with dark humour, satirising society’s foibles. Leaning on the side of the absurd, “The Cook, The Thief, His Wife & Her Lover” (1989) is about the neglected wife of a restaurant owner having an affair with a patron in the restaurant with the help of the chef, folding love and lust into food. In the festive comedy “The Chinese Feast” (1995), Leslie Cheung plays the role of an apprentice cook at a restaurant, which is challenged to a culinary duel by a rival chef that will determine the fate of the restaurant. Ingredients running low, staff arriving late, and the hygiene being deemed substandard in an inspection are all happening in a restaurant in “Boiling Point” (2021) on the busiest night before Christmas. This single-take film, featuring the actors’ precise performances, captures the suffocating tension both inside and outside the kitchen.
 
     “Today’s Special” is “Master Cheng” (2019), a film about a professional chef Cheng, played by Chu Pak-hong, encountering a café owner Sirkka in a remote village in Finland. While Cheng brings gastronomic delights to the local people, he also finds peace with his troubled past in the scenic Finnish landscape and kindles a cross-cultural romance with Sirkka. This screening is one of the programmes of the EKCC Opening Season.
 
     Tickets for screenings at the HKFA and EKCC priced at $75 are now available at URBTIX (www.urbtix.hk). For telephone bookings, please call 3166 1288. For screenings at K11 Art House, tickets priced at $110 are now available at K11 Art House and the website of MCL Cinemas (www.mclcinema.com). For programme enquiries and concessionary schemes, please call 2734 2900 or visit www.lcsd.gov.hk/fp/en/listing.html?id=83.
 
     Some screenings will be accompanied by post-screening talks, hosted by Dr Fiona Law, Dr Wong Kim-fan, Dr Stephanie Ng, Joyce Yang, Wong Siu-pong, Dr Derek Lam, Horace Chan and Cecilia Wong.
 
     Two seminars, titled “From Set to Restaurant: Film Arts and Culinary Arts” and “The Twins in One Body: Art Direction and Food Styling”, will be held. The former will be hosted by Irving Cheung and Leung Tsz-yin, the production designer and art director of “Table for Six” respectively, while the latter will be hosted by Man Lim-chung, the art director and costume designer of “The Chinese Feast”, and Cheung Siu-hong, the production designer and image designer of “Fagara”. The post-screening talks and seminars will be conducted in Cantonese. Ticket holders of respective screenings before the post-screening talks and seminars will be admitted with priority. Seats will be available on a first-come, first-served basis with free admission.
 
     The FPO will also organise an enrichment programme “Bon Cinéppétit!”, inviting audiences to share their thoughts after screenings. Some of the selected sharing will be displayed at EKCC from January 10 to 18, 2026. Contributors will have a chance to receive free tickets to a screening event titled “Grand Finale”, to be held at the EKCC on January 18, 2026. Details will be available on the FPO website (www.lcsd.gov.hk/fp) on November 21, 2025.

Source: Hong Kong Government special administrative region – 4

The Leisure and Cultural Services Department’s “European Theatres in Resonance” will present two theatre productions honoured with the Scotsman Fringe First award at the Edinburgh Festival Fringe. These critically acclaimed plays, scheduled for December this year and February next year, delve into the depths of human emotions through contemporary voices and perspectives.

Details of the programmes are as follows:

Teater Katapult “The Insider”
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Teater Katapult from Denmark will bring this solo performance to the Hong Kong stage. The story is inspired by a real case, where European states suffer large-scale treasury losses due to an individual tax fraud. By headphones throughout the performance, the audience will be immersed in a 3D binaural soundscape, cinematic audio and multiple characters in their ears, complemented by an innovative stage design and projection effects. This will create the sensation of being transported into the protagonist’s mind, witnessing his involvement in devising the monumental fraud, and later his pivotal shift in allegiance to assist police in dismantling the criminal network. The production won The Scotsman Fringe First award at the 2023 Edinburgh Festival Fringe and garnered acclaim during tours across Europe and in Korea. 

Song of the Goat Theatre “Songs of Lear”
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As one of the most innovative voices in Poland’s avant-garde theatre scene, the Song of the Goat Theatre reimagines Shakespeare’s “King Lear” as a soul-stirring oratorio. Featuring 12 original compositions highlighting key tragic moments, the play interweaves fragments of text of Shakespeare with polyphonic singing, actors’ expressive movements and ritualistic staging to reveal the emotional and spiritual essence of Lear in a bold contemporary light. This production swept three major awards at the 2012 Edinburgh Festival Fringe, including The Scotsman Fringe First, Herald Archangel and Musical Theatre Matters awards. It subsequently toured across Europe and Asia to widespread acclaim.

Tickets for the above-mentioned programmes will be available from tomorrow (November 7) onwards at URBTIX (www.urbtix.hk). For telephone bookings, please call 3166 1288. A discount will be offered for those purchasing standard tickets of both programmes. For programme enquiries and concessionary schemes, please call 2268 7325 or visit https://www.lcsd.gov.hk/CE/CulturalService/Programme/en/theatre/. 

Source: Hong Kong Government special administrative region – 4

Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Society of Trust and Estate Practitioners (STEP) Asia Conference 2025 today (November 6):

Ladies and gentlemen, distinguished guests, members of STEP from across the globe,

     Good morning. It is my great pleasure to welcome you all to the STEP Asia Conference here in Hong Kong. I must say this week is rather eventful for us. We have the FinTech Week; we have the Global Financial Leaders’ Investment Summit, followed by the STEP Asia Conference. I think one thing that differentiates this one from the two that I attended earlier is that it is super quiet here. In fact this goes very much in line with the theme and also your mission, because there is a Chinese saying that “People only get rich when you stay quiet” (悶è�²ç™¼å¤§è²¡). After all, in this world of uncertainty and also the need for wealth planning for the future as highlighted by the theme of this year’s conference, “Thriving through Uncertainty: Wealth Planning for the Future”, we also need to be very focused and very professional in what we do. In an era of geopolitical shifts, market volatility, and rapid technological change, family offices and wealth owners are seeking not just preservation, but sustainable growth, intergenerational legacy, and positive impact. Hong Kong stands ready to be your strategic partner in this very journey.

     We have long been recognised as one of the world’s top international financial centres (IFC), with our asset and wealth management industry forming a cornerstone of that strength. In fact, we have recently been ranked third globally as an IFC, and Asia’s number one, with sectors including “banking”, “investment management”, “insurance” and “finance” ranked at the top three positions globally. Under the “one country, two systems” framework, we serve as the important link between the Chinese Mainland and global markets – backed by a robust regulatory system, world-class professional services, and deep market liquidity.

The Government’s initiatives on family offices

     The Government is fully committed to positioning Hong Kong as the premier hub for family offices in Asia and beyond. Our unique strengths – a common law system rooted in fairness and transparency, cutting-edge financial infrastructure, strategic proximity to the Mainland, and a simple tax regime – all make us the natural choice for ultra-high-net-worth families from across the world.

     We have adopted a multipronged, collaborative approach with regulators and industry partners to create a truly conducive environment. Central to this is the provision of profits tax concessions for family-owned investment holding vehicles managed by single family offices in Hong Kong. This lowers the cost barrier, allowing families to focus on long-term growth, legacy building, and impactful investing. To further sharpen our competitive edge, the Government will introduce a legislative proposal in the first half of next year to enhance the preferential tax regimes for funds, single family offices, and carried interest – ensuring that Hong Kong remains one of the most attractive jurisdictions for global capital and talent.

     Recognising the crucial role of talent and expertise, we established the Hong Kong Academy for Wealth Legacy two years ago under the Financial Services Development Council. The academy serves as a collaborative platform to network, share knowledge and enhance the capabilities of asset owners and industry practitioners, in particular the next-gen. By fostering positive financial management values and strengthening the talent pool, the academy supports the professionalisation of the sector, ensuring family offices have access to the expertise needed to thrive in a competitive and complex landscape. 

     Our policies so far, I must say proudly, deliver results. In 2023, we set an ambitious target to attract at least 200 family offices to establish or expand in Hong Kong by the end of this year. We achieved this goal ahead of schedule in September this year. Building on this momentum, as announced in the latest Policy Address by our Chief Executive, we now aim to welcome an additional 220 family offices between 2026 and 2028 – further deepening and enriching our ecosystem. We will continue to refine our policy measures to keep up the growth momentum of the family office sector.

A sustainable future

     Among different investment themes, we noted sustainable investment is one of the key opportunities pursued by global family offices, as they offer attractive risk-adjusted returns amid global uncertainties. Hong Kong is well positioned, and we have established ourselves as a leading international green and sustainable finance centre in Asia. Last year, the total green and sustainable debt issued in Hong Kong exceeded US$84 billion, with green and sustainable bonds arranged in the city amounting to US$43 billion, accounting for approximately 45 per cent of Asia’s total. This marks the seventh consecutive year for Hong Kong to top the league table in Asia, fully demonstrating our leadership in the green finance market.

     Bond and debt issuance aside, Hong Kong is also a pioneer in developing green and sustainable financial products. We have pioneered and witnessed the growth of various new ESG (environmental, social and governance) products in Hong Kong, including the world’s first government tokenised green bond, the world’s first exchange-traded fund (ETF) investing in Asian green bonds, Asia’s first green retail certificates of deposit, and the world’s first offshore A-share ESG ETF. These innovative products demonstrate Hong Kong’s advancements in green and sustainable finance and position our market well as an ideal place to channel capital towards green and sustainable projects.

Embracing the digital asset future

     Another key theme for diversification is the embrace of non-traditional asset classes, notably digital assets. I am glad to see STEP is also doing its work in terms of promulgating different policy areas on this front. In June this year, the Hong Kong Government released our Policy Statement 2.0 on digital assets, which outlines a vision for a secure, trusted, and innovative digital asset ecosystem, with measures announced around the theme of “LEAP” – Legal and regulatory streamlining, Expanding the suite of tokenised products, Advancing use cases and cross-sectoral collaboration, and People and partnership development.

     The Hong Kong Government is establishing a unified regulatory regime for digital assets, covering Exchanges, stablecoin issuers, trading service providers and custodians, with investor protection at its core. Guided by the principle of “same activity, same risks, same regulation”, our regime provides a solid ground for the market to further develop, and for global family offices and wealth owners to consider allocation in digital assets through Hong Kong’s regulated and compliant offerings.

     Nowadays, global family offices and asset owners need to carefully manage risks in portfolios. To summarise the various initiatives I just highlighted, what we seek to do and also provide for the market are the “3Cs” – clarity, consistency, and credibility. I must say in these days, these are actually quite rare commodities in the world, and Hong Kong delivers exactly that – a stable, predictable, and forward-looking environment where wealth can thrive through uncertainty. With concerted efforts from the industry, I am confident that Hong Kong will continue to thrive as the leading family office hub in Asia and beyond. On this front, I definitely count on the support from staff and also all of you. I wish this conference every success, and I hope all of you will find the discussions ahead insightful, productive and inspiring. And in particular, if you get some time out of this busy agenda to see more of Hong Kong by yourselves, Michael (Committee Member of STEP Hong Kong, Mr Michael Olesnicky) can be the perfect guide for you. Thank you.

Source: Hong Kong Government special administrative region – 4

Most employers are satisfied with the work performance of local graduates, according to the findings of a survey commissioned by the Education Bureau (EDB) released today (November 6). The survey covered students who graduated from locally-accredited publicly-funded and self-financing first degree and sub-degree programmes in 2022.

Overall, about 98 per cent of the surveyed employers were satisfied with the work performance of first degree graduates, including about 79 per cent who indicated that they were quite satisfied or very satisfied. About 96 per cent of the surveyed employers were satisfied with the work performance of the sub-degree graduates, including about 66 per cent who were quite satisfied or very satisfied. The relevant results are comparable to those of the previous round of the survey.

The survey aimed to collect employers’ opinions on nine broad aspects of graduate performance, namely language proficiency, numerical competency, information technology literacy, analytical and problem-solving abilities, work attitude, interpersonal skills, management skills, technical knowledge required for the job, and knowledge of current affairs and business issues, self-learning ability and self-confidence. The survey results show that, of these nine aspects, work attitude was perceived by employers as the most important aspect of competence.

The 2022 first degree graduates performed the best in terms of work attitude and information technology literacy, followed by language proficiency. Their performance scores in all nine major aspects are over 3.50 on a five-point scale, indicating that their performance was better than “generally meeting employers’ required standard”. The overall work performance score of the graduates is 3.75, showing that they met and sometimes exceeded the employers’ required standard. This is also the highest score obtained in such surveys over the years.

The overall work performance score of the 2022 sub-degree graduates is 3.57, which is also the highest score among all rounds of surveys. Their performance scores in nine broad aspects are all over 3.40, showing that their performance was better than “generally meeting employers’ required standard”. The sub-degree graduates performed the best in terms of information technology literacy and work attitude, followed by interpersonal skills.

This survey was conducted from the third quarter of 2024 to the second quarter of 2025 through questionnaires to the employers, from both private and public sectors, of the relevant graduates. Over 1 500 valid responses were received from more than 1 500 companies, organisations, and government bureaux and departments, covering over 1 300 local first degree graduates and 250 local sub-degree graduates.

The EDB has been conducting the survey since 1998 with a view to keeping track of the quality of graduates and employers’ views. This survey was the 10th round. Details are available on the Concourse for Self-financing Post-secondary Education webpage (www.cspe.edu.hk/en/resources/survey-reports/).

Source: Hong Kong Government special administrative region – 4

Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Cyberport Venture Capital Forum 2025 today (November 6):

Simon (Chairman of the Board of Directors of the Hong Kong Cyberport Management Company Limited, Mr Simon Chan), Hendrick (Chairman of the Cyberport Investors Network Steering Group, Mr Hendrick Sin), distinguished guests, ladies and gentlemen,

I am glad to join you all today at the Cyberport Venture Capital Forum (CVCF) again this year.   

     Before I start, I am delighted to share some exciting news that underscores Hong Kong’s growing stature in the global digital landscape. Just two days ago, the International Institute for Management Development released its latest World Digital Competitiveness Ranking 2025, in which Hong Kong achieved an impressive fourth place globally. This marks a continued upward trajectory – we climbed three positions last year, and we rose again by three more places this year. Such progress reflects not only our resilience and adaptability in this ever-evolving digital world but also our determination and capability to develop Hong Kong into an international innovation and technology (I&T) centre.

     Hong Kong has long been an ideal landing place for I&T enterprises and investors from the Mainland and overseas. Recognising the potential of AI as a key driver for our future growth, we continue to strengthen the AI readiness of our community, from upgrading our digital infrastructure, to establishing our own AI (artificial intelligence) research institute, to grooming talent on the AI front. These initiatives will fuel the growth of AI as a key industry in Hong Kong and reinforce Hong Kong’s role as an international I&T centre.

      Cyberport has made significant contributions to the local I&T ecosystem. Over the years, Cyberport has developed and sustained a vibrant community that empowers digital pioneers and start-ups to thrive. Its success in attracting around 470 enterprises to land here last year resonates strongly with Hong Kong’s vision. 

      Today’s forum perfectly aligns with Cyberport’s mission to connect visionary entrepreneurs with strategic investors. Beyond merely providing a starting point for start-ups, the $400 million Cyberport Macro Fund leverages private capital at a scale of one to nine, connecting Cyberport digital entrepreneurs with market capital and enabling projects with potential to expand by turning breakthroughs in R&D (research and development) into commercial successes.   

      The forum also showcases the dynamic lineup of high-potential start-ups within the Cyberport community and demonstrates how Hong Kong stands at the forefront of creativity and technology. This is a launch pad for ventures that aspire not just to succeed locally but to make waves internationally.

​Under the theme “The Innovation-Venture Nexus: Igniting Transformative Success”, I trust that today’s forum will enlighten participants on how bold ideas and breakthrough technologies are driving a new wave of transformative growth. May this gathering not only inspire deal flows and collaboration but also reinforce our city’s position as a leading I&T hub.

Before I conclude, I would like to take this opportunity to remind everyone that the Legislative Council General Election will take place on December 7, 2025. It is vital for all eligible voters to exercise their right and cast their votes. Your vote is important for us to build a prosperous and innovative Hong Kong for the years to come.

     Let’s continue to embrace growth together, where bold ideas meet smart capital, and where our future is launched. Thank you, and I wish CVCF 2025 every success.

Source: Hong Kong Government special administrative region – 4

Hong Kong Customs yesterday (November 5) raided a suspected illicit cigarette storage centre in Tsuen Wan, seizing about 750 000 suspected illicit cigarettes with an estimated market value of about $3.38 million and a duty potential of about $2.48 million. One person was arrested.

     Customs officers conducted an anti-illicit cigarette operation in Tsuen Wan yesterday and intercepted a suspicious 30-year-old man in a private residential estate. The man was then escorted to his residence there for a search, where the batch of suspected illicit cigarettes was seized. The man was subsequently arrested. After preliminary investigations, Customs believes that the suspected illicit cigarette storage centre was primarily used to supply illicit cigarettes to areas in Tsuen Wan.

     The arrested person was charged with “dealing with goods to which the Dutiable Commodities Ordinance applies” and will appear at the West Kowloon Magistrates’ Courts tomorrow (November 7). 

     Customs reminds members of the public that under the Dutiable Commodities Ordinance, anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.

     Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Source: Hong Kong Government special administrative region – 4

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (November 6) that a tender of 1-year HONIA-indexed Floating Rate Notes (Notes) under the Infrastructure Bond Programme will be held on Wednesday, November 12, 2025, for settlement on Thursday, November 13,  2025.
 
A total of HK$1.5 billion 1-year HKD Notes will be tendered. The Notes will mature on November 13, 2026 and will carry interest indexed to the Hong Kong Dollar Overnight Index Average (HONIA), payable quarterly in arrear.
 
Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Notes on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof. 
 
Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK ) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.

HKSAR Institutional Government Bonds Tender Information

Tender information of 1-year HONIA-indexed Floating Rate Notes:
 

Source: Hong Kong Information Services

Chief Executive John Lee delivered a speech at the Hong Kong – The Ideal Platform for Mainland Enterprises in Going Global Promotion Conference in Shanghai today.

The event highlighted Hong Kong’s unique strengths and role in assisting Mainland enterprises in expanding internationally, with a view to encouraging them to use Hong Kong as a platform for going global to tap into overseas markets.

This year’s Policy Address announced the establishment of the Task Force on Supporting Mainland Enterprises in Going Global to proactively engage Mainland enterprises to go global via Hong Kong.

The conference, the task force’s first large-scale promotional event on the Mainland, attracted 500 participants.

Speaking at the opening ceremony, Mr Lee noted that the country is implementing a high-level strategy of two-way opening up to encourage Mainland enterprises to go global, and the momentum of Mainland enterprises’ international expansion is accelerating.

The Chief Executive said under the “one country, two systems” principle, Hong Kong enjoys the advantage of connecting the Mainland and the world, serving as an international financial, shipping and trade centre, in addition to attracting global capital and top talent and boasting a highly internationalised business environment, world-class professional services, a common law system aligned with global financial centres, a simple and transparent tax regime, and an extensive logistics network, adding that these core strengths make Hong Kong the best platform for Mainland enterprises to go global.

​Noting that the country is expanding the scope of its high-level opening up, Mr Lee said both Shanghai and Hong Kong play crucial roles in supporting regional co-ordinated development and complement each other.

Hong Kong will continue to leverage its distinctive advantages of enjoying strong support of the motherland and being closely connected to the world, actively dovetail with national strategies, and work with the Mainland to create a new chapter of mutually beneficial co-operation, Mr Lee added.

Secretary for Commerce & Economic Development Algernon Yau, who chairs the GoGlobal Task Force, told the conference that the task force will establish an efficient, effective and unprecedented one-stop support platform for Mainland enterprises going global, strengthening assistance for them to systematically expand international operations via Hong Kong amid the ever-changing geopolitical landscape.

​Mr Yau also said the task force will continue to organise promotional activities across various provinces on the Mainland.

Also addressing the promotion conference were Executive Deputy Director of the Hong Kong & Macao Work Office of the Communist Party of China (CPC) Central Committee and the Hong Kong & Macao Affairs Office of the State Council Xu Qifang.

Other speakers included Member of the Standing Committee of the CPC Shanghai Municipal Committee and Executive Vice Mayor of the Shanghai Municipal People’s Government Wu Wei; Deputy Director General of the Department of Outward Investment & Economic Cooperation of the Ministry of Commerce Wang Qi; and Hong Kong Trade Development Council (HKTDC) Chairman Prof Frederick Ma.

​A number of Hong Kong business leaders highlighted Hong Kong’s strengths in innovation and technology, financial services and professional services at the promotion conference, and Mainland enterprise representatives shared their successful experiences of using Hong Kong as a gateway to go global.

The event was also attended by Director of the Chief Executive’s Office Carol Yip and Permanent Secretary for Commerce & Economic Development Maggie Wong.

Director-General of Investment Promotion Alpha Lau and Commissioner for Industry (Innovation & Technology) Ge Ming hosted two thematic networking sessions on serving Mainland enterprises seeking to go global, and innovation and technology.

The promotion conference was jointly organised by the Hong Kong Special Administrative Region Government and the HKTDC.

Mr Lee and the delegation returned to Hong Kong in the afternoon.

Source: Hong Kong Information Services

The Housing Authority’s Subsidised Housing Committee today approved a series of measures to encourage upward mobility via the housing ladder, including increasing the allocation of homes under the White Form Secondary Market Scheme (WSM).

Starting from the next WSM exercise, the authority will increase the allocation by 1,000, to 7,000. Half of the additional allocation will be reserved for young families and one-person applicants aged below 40 under the Youth Scheme (WSM). The remaining 500 will be ordinary allocations.

The authority highlighted that in response to keen market demand, under WSM 2024, it increased the allocation by 1,500 homes, with all of these going to young families and one-person applicants aged below 40. It said that WSM 2024 was about five times over-subscribed.

Stressing that more than 80% of the applications received came from young applicants under the Youth Scheme (WSM), it added that this shows the scheme is valued by young people.

Regarding operational arrangements, the committee said that in recent WSM exercises an average of about 15% to 20% of applicants allocated a home failed to apply for a Certificate of Eligibility to Purchase (CEP) within the specified period.

To avoid wastage of allocations, the committee said that starting from the next WSM exercise the number of approval letters issued by the authority will be higher than the total WSM allocation. Details of the over-issuance will be announced prior to each application period.

The committee added that starting from the WSM 2024, any unused allocations will be given to one-person applicants, consistent with the practice adopted in the sale of primary subsidised sale flats (SSF).

Moreover, to ensure full utilisation of the WSM 2024 allocation, the authority will issue an additional batch of approval letters corresponding to the ballot order.

The authority will also increase the ratio Green Form to White Form allocations from 40:60 to 50:50 starting from the next Home Ownership Scheme (HOS) sale exercise, and at the same time increase the ratio of larger units in HOS and Green Form Subsidised Home Ownership Scheme (GSH) projects to encourage more Public Rental Housing tenants to purchase SSFs.

Taking into account the fact that HOS and GSH flat transactions on the open market have been declining, and to encourage upward mobility via the housing ladder, the committee decided today to shorten the alienation restriction period for new SSFs offered for sale on the open market from 15 years to 10 years from the date of the first assignment, starting from the next HOS and GSH sale exercises.

Source: Hong Kong Government special administrative region