MIL Asia Pacific Publishing Engine

Source: Hong Kong Government special administrative region – 4

The Centre for Health Protection (CHP) of the Department of Health today (August 12) recorded another severe paediatric influenza A infection case. The CHP urged the public to maintain good personal and environmental hygiene at all times to prevent influenza and other respiratory illnesses.

The case involves a 17-month-old girl with good past health. She developed a fever and cough on August 9 and was taken to a private clinic on the following day (August 10). Later that same day, her condition deteriorated and she developed shortness of breath. She was taken to the Accident and Emergency Department of Queen Elizabeth Hospital. Due to her respiratory distress and low blood pressure, she was admitted to the hospital’s paediatric intensive care unit. Her respiratory specimen tested positive for influenza A virus. Her clinical diagnosis was influenza A infection complicated with severe pneumonia and septic shock. She remains hospitalised in critical condition.

The CHP’s preliminary investigation revealed that the girl had not received the seasonal influenza vaccination during the previous season (2025/26). Her household contacts remain asymptomatic. The CHP will continue to investigate the case.

“Since Hong Kong entered the influenza season in late June, a cumulative total of nine cases of severe paediatric influenza infection have been recorded. Apart from one fatal case, three patients have recovered and been discharged, one remains in stable condition, two are in serious condition, and two are in critical condition (including the case mentioned above). Surveillance data shows that the level of influenza activity is currently on the rise, with a high level of influenza transmission in the community. As the number of infections is expected to rise, the number of severe cases will subsequently increase. In general, the situation in the current influenza season is comparable to that of previous influenza seasons, and the disease primarily affects the elderly and children. The predominant influenza viruses detected in Hong Kong are influenza A (H1) and influenza A (H3). The Public Health Laboratory Services Branch under the CHP has conducted viral genetic analyses of influenza cases, and confirmed that the predominant influenza virus strains are similar to those circulating in other regions of the world, with no significant genetic mutations detected so far. These strains would not cause a more severe illness or resistance to antiviral drugs,” said the Controller of the CHP, Dr Edwin Tsui.

“The World Health Organization has earlier announced its recommendations for the composition of influenza vaccines for the 2026/27 season in the northern hemisphere. Vaccine manufacturers are currently producing vaccines in accordance with the recommendations for use by the end of the year. The Government has completed the procurement process for the 2026/27 Seasonal Influenza Vaccination (SIV) Programmes and is actively preparing various vaccination arrangements. The 2026/27 Seasonal Influenza Vaccination School Outreach Programme (SIVSOP) will introduce a new Electronic Consent Form (e-consent form) feature. Starting from today, we will distribute school-specific QR codes to participating schools for distribution to parents. The QR codes will become effective on August 17. By then, parents can start filling out the e-consent forms for their children. I urge all schools and parents in Hong Kong to work closely with the CHP to actively participate in next season’s SIVSOP and use the e-consent forms to complete the consent process as soon as possible. In that case, schools can plan and organise SIV school outreach activities earlier,” he added.

Dr Tsui also reminded parents that the health condition of children with influenza can deteriorate rapidly. Parents must pay close attention to their condition, and visit an accident and emergency department immediately if the child’s condition deteriorates with symptoms such as shortness of breath, wheezing, blue lips, chest pain, confusion, a persistent fever or convulsions. Members of the public should seek medical attention as soon as possible if they develop respiratory symptoms. If they live with members of high-risk groups, such as children, the elderly and those with underlying illnesses or compromised immune systems, they should wear a surgical mask at home to reduce the risk of infecting them. Other effective ways to reduce the spread of the disease include maintaining household hygiene, frequently cleaning and disinfecting frequently touched surfaces, practising good hand hygiene, and ensuring proper indoor air circulation.

​Members of the public may refer to the CHP’s COVID-19 & Flu Express, Seasonal Influenza Webpage and COVID-19 Vaccination Programme Webpage, for the latest information.

Source: Hong Kong Government special administrative region – 4

In response to media enquiries regarding the preferential tax regime for carried interest of the Inland Revenue (Amendment) (Preferential Tax Regimes for Funds, Family-owned Investment Holding Vehicles and Carried Interest) Bill 2026, the Financial Services and the Treasury Bureau issued the following reply today (August 12):
 
The Government introduced the Inland Revenue (Amendment) (Preferential Tax Regimes for Funds, Family-owned Investment Holding Vehicles and Carried Interest) Bill 2026 into the Legislative Council (LegCo) in June this year, to enhance the preferential tax regimes for privately offered funds, family-owned investment holding vehicles managed by eligible single family offices and carried interest, with a view to attracting more funds and family offices to establish a presence in Hong Kong, and more global capital to be managed in Hong Kong, as well as stimulating more local fund investment management and related activities.
 
One of the key measures in the Bill is to expand the scope of the preferential tax regime for carried interest. Apart from private equity investments which are already covered currently, other profits of eligible funds may also give rise to eligible carried interest which may enjoy a profits tax concession and a salaries tax concession. The preferential tax regime applies to eligible carried interest distributed by “funds” so defined in the Inland Revenue Ordinance (IRO). According to the relevant definition currently set out in the IRO, a “fund” should generally satisfy the requirement that “participating persons do not have day-to-day control over the management of the property”, and a business undertaking for general commercial or industrial purposes does not fall within the definition of “fund”. Accordingly, a business that trades or holds assets using proprietary capital with a view to generating profits on its own account (commonly referred to as a “proprietary trading business”), does not fall within the definition of “fund”, and any remuneration distributed by such a business does not qualify for the tax concessions proposed in the Bill.
 
In addition, eligible carried interest refers to returns, that are linked to the investment performance of a fund, earned by fund management companies or their qualifying employees from the provision of investment management services in Hong Kong for the fund. Eligible carried interest must be determined in accordance with the agreement governing the operation of the fund or the provision of investment management services, such that the fund manager or their qualifying employees are entitled to receive returns that are based on the investment performance of the fund and are non-discretionary in nature. “Investment management services” provided to a fund include: (a) seeking funds for the fund; (b) researching and advising on potential investments to be made for the fund; (c) acquiring, managing or disposing of property or investments for the fund; and (d) acting for the fund with a view to assisting an entity in which the fund has invested to raise funds. Therefore, whether the remuneration of an employee of a fund management company qualifies as eligible carried interest depends on whether the employee’s duties, in substance, constitute “investment management services”, subject to other aforementioned conditions.
 
The Bill also proposes to refine the requirements with respect to the distribution of eligible carried interest under the preferential tax regime for carried interest (e.g. broadening the scope of “associate”, allowing qualifying employees to receive carried interest through other entities) to accommodate different possible distribution arrangements of carried interest in practice.
 
The Bill is currently under scrutiny by the LegCo’s Bills Committee, with the clause-by-clause examination completed. The Government targets to resume second reading debate on the Bill within the second half of this year. Subject to passage by the LegCo, the relevant measures will take effect from the year of assessment 2025/26. In implementing the enhancement measures, the Inland Revenue Department will issue administrative guidance where necessary to provide further clarifications on matters relating to the implementation details. The relevant administrative guidance will be in line with the above legal framework. The Government does not have plans to further expand the scope of the preferential measures.
 
The Government has been maintaining close liaison with the industry to explain the policy intent and the scope of the preferential tax regime, and has been in active dialogue with them on the implementation details of the new regime. In the process, a number of fund management companies, both local and overseas, have expressed interest in considering to establish a presence or expand their operations in Hong Kong having regard to the tax incentives proposed in the Bill. The Government expects that these enhancement measures will attract more global capital to be managed in Hong Kong and encourage more funds to be established and operated here, thereby stimulating business activities in related professional service sectors and strengthening Hong Kong’s competitiveness as a leading international asset and wealth management centre.

Source: Hong Kong Government special administrative region – 4

The Commissioner of Customs and Excise, Mr Chan Tsz-tat, signed the Customs Co-operative Arrangement between Hong Kong Customs and Pakistan Customs in hybrid mode at the Customs Headquarters Building today (August 12). The signing ceremony was witnessed by the Head of Pakistan Customs, Mr Syed Shakeel Shah, and his delegations online, as well as the Consul-General of Pakistan in Hong Kong, Mr Riaz Ahmed Shaikh, in person.

Mr Chan said that the signing of the Co-operative Arrangement paves the way for strengthening intelligence exchanges to combat transnational crimes. It also promotes closer ties in trade facilitation and creates a business-friendly environment for legitimate trade activities.

Hong Kong Customs has so far entered into similar Customs Co-operative Arrangements with 35 customs administrations worldwide. 

Hong Kong Customs will continue to strengthen co-operation with other customs administrations, which helps consolidate Hong Kong’s position as an international centre in finance, shipping and trade, and reinforce Hong Kong’s status as a “super connector” and “super value-adder”.

Source: Hong Kong Information Services

Chief Executive John Lee today expressed profound sorrow over the passing of former Premier Zhu Rongji.

Mr Lee noted that Premier Zhu had always held the development of Hong Kong close to his heart and supported the city’s growth. Premier Zhu had visited Hong Kong on multiple occasions in his different positions, reaching out to Hong Kong people from all walks of life.

He said that Premier Zhu had remained committed to firmly upholding the principles of “one country, two systems”, “Hong Kong people administering Hong Kong” and a high degree of autonomy, and maintaining the long-term prosperity and stability of Hong Kong.

Mr Lee added that Premier Zhu had supported Hong Kong during his premiership in staying united and striving to leverage its strengths amid such challenges as the Asian financial crisis, resolutely upholding the prosperity and stability of Hong Kong as an international financial centre.

“I am sincerely grateful for his care and support for Hong Kong’s economic and social development over the years.

“I am profoundly saddened by the passing of former Premier Zhu. On behalf of the Hong Kong Special Administrative Region, I extend my deepest condolences to his family,” he said.

Source: Hong Kong Information Services

Secretary for Commerce & Economic Development Algernon Yau today led a business delegation to explore new economic opportunities in Malaysia.

The group includes representatives from Mainland enterprises, Hong Kong chambers of commerce and other key industry organisations. The visit was organised by the Task Force on Supporting Mainland Enterprises in Going Global, which is jointly led by Mr Yau and Invest Hong Kong.

The visit began with a business seminar and networking lunch hosted by Invest Hong Kong. The event provided Mainland delegates with direct networking access to potential Malaysian business partners.

Delivering his opening remarks, Mr Yau highlighted Hong Kong’s strategic role as a “super connector” and a “super value-adder” that links capital and opportunities between the East and the West. “With this strategic role, coupled with the many strengths of Hong Kong, Hong Kong is prepared to serve as the ideal springboard linking the Chinese Mainland and Malaysia,” he said.

On the sidelines of the seminar, Invest Hong Kong signed a memorandum of understanding (MOU) with the Malaysian Investment Development Authority to deepen bilateral co-operation. The signing was witnessed by Mr Yau and Malaysia’s Deputy Minister of Investment, Trade & Industry.

Director-General of Investment Promotion Alpha Lau described the trip as a major success in helping Mainland enterprises leverage Hong Kong to expand into Malaysia and the Association of Southeast Asian Nations (ASEAN) market. She noted that the delegation attended the Hong Kong Trade Development Council’s “Think Business, Think Hong Kong” event to meet local business leaders.

“Malaysia being a very key economy within the ASEAN region, we arranged for them to meet not only the government agencies, but also to meet potential key partners.

“More ASEAN companies are now also using Hong Kong as a platform to expand further into the Greater Bay Area, or the Chinese Mainland as a whole, and some of them even use Hong Kong to further develop their business in the rest of the world,” she added.

Mainland delegates hailed the trip as fruitful.

Communications executive Athena Zhao called the task force an accelerator for companies going global, noting its help in connecting businesses with crucial legal and financial services.

Mainland technology executive Max Zhao added that official government endorsement provided direct access to senior-level local counterparts.

In the afternoon, the delegation visited Ant International to learn about digital solutions empowering small and medium-sized enterprises in Malaysia. They exchanged views on fostering partnerships via Hong Kong with Antom Senior Vice President and Chief Executive Officer Gary Liu.

The group also visited Hong Leong Manufacturing Group, one of Malaysia’s largest diversified conglomerates, to discuss market strategies with Group President Kwek Leng San.

In the evening, Mr Yau held a dinner meeting with Malaysia’s Deputy Minister of Finance Liew Chin Tong to discuss economic trends and exchange views on strengthening co-operation between Hong Kong, Malaysia and ASEAN.

Mr Yau will attend an MOU signing ceremony between the competition commissions of Hong Kong and Malaysia tomorrow before returning to Hong Kong.

Source: Hong Kong Information Services

The Financial Services & the Treasury Bureau today confirmed that remuneration distributed by proprietary trading businesses does not qualify for tax concessions proposed under the Inland Revenue (Amendment) Bill 2026.

The Government introduced the Inland Revenue (Amendment) (Preferential Tax Regimes for Funds, Family-owned Investment Holding Vehicles and Carried Interest) Bill 2026 into the Legislative Council (LegCo) in June. The bill aims to enhance preferential tax regimes for privately offered funds, family-owned investment holding vehicles managed by single family offices, and carried interest.

A key measure involves expanding the scope of the preferential tax regime for carried interest. Beyond currently covered private equity investments, other eligible fund profits may also yield eligible carried interest, qualifying for profits tax and salaries tax concessions.

Responding to media enquiries, the bureau noted that the preferential regime applies only to eligible carried interest distributed by funds as defined under the Inland Revenue Ordinance (IRO).

Under the IRO, a fund must generally satisfy the requirement that participating persons do not have day-to-day control over property management. A business trading or holding assets using proprietary capital to generate profits for its own account – commonly known as proprietary trading – fails to meet this definition. Remuneration from such businesses is therefore excluded from the proposed tax concessions.

The bureau added that eligible carried interest must be determined by the fund’s operating or investment management agreement. The returns received by fund managers or qualifying employees must be non-discretionary and based on investment performance. Eligible investment management services include seeking capital for the fund, researching and advising on potential investments, acquiring, managing or disposing of fund property, and assisting investee entities in raising capital.

The bill also proposes refining distribution requirements to accommodate different practical arrangements for carried interest.

The LegCo Bills Committee has completed its clause-by-clause examination of the bill. The Government aims to resume the second reading debate within the second half of this year, with the measures taking effect from the year of assessment 2025/26. The Government has no plans to further expand the scope of these preferential measures.

The bureau stated that the Government maintains close liaison with the industry to explain the policy intent. Active dialogue with stakeholders on implementation details will continue. The enhancements are expected to attract more global capital and encourage more funds to be established and operate in Hong Kong.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region – 4

     Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the Hong Kong Luncheon of “Think Business, Think Hong Kong” in Kuala Lumpur today (August 11):

YB Liew (Deputy Minister of Finance of Malaysia, Mr Liew Chin Tong), H.E. Ouyang Yujing (Chinese Ambassador to Malaysia, Mr Ouyang Yujing), YB Sim (Deputy Minister of Investment, Trade and Industry, Mr Sim Tze Tzin), Frederick (Chairman of the Hong Kong Trade Development Council, Professor Frederick Ma), distinguished guests, ladies and gentlemen,

     Good afternoon, and Selamat Tengah Hari.

     First of all, it is a true privilege to welcome you all to today’s Hong Kong Luncheon of “Think Business, Think Hong Kong”. This is my second visit to Kuala Lumpur this year, and I must say that I am, as always, deeply impressed by the energy, the dynamism, and the warmth of its people. From the bustling streets to the modern skyline, Kuala Lumpur truly embodies the spirit of a global hub for trade, innovation, and cultural exchanges.

     I look forward to the visits and events ahead in the coming days and am confident that through these engagements, we will explore more of the business opportunities this city has to offer, and strengthen the ties between our two economies.

     In the opening session of the symposium this morning, various speakers emphasised the robust and ever-growing bilateral trade and investment partnership between Malaysia and Hong Kong. Indeed, Malaysia is one of our largest trading partners within ASEAN (Association of Southeast Asian Nations), and Hong Kong continues to serve as a significant source of foreign direct investment into Malaysia. Since the signing of the ASEAN-Hong Kong, China Free Trade Agreement and Investment Agreement in 2017, our outward investment into ASEAN has grown by 54 per cent, and the number of offices in Hong Kong with parent companies located in ASEAN has risen by 42 per cent. We also collaborate very closely with Malaysia in different multilateral trade bodies, notably the Asia-Pacific Economic Cooperation and the World Trade Organization, to pursue our common interests in trade and economic issues at the regional as well as global level.

     Building on that momentum, Hong Kong continues to offer unparalleled commercial value under the “one country, two systems” principle. With our common law framework, simple tax regime, free capital flow, and direct access to the Chinese Mainland, Hong Kong serves as the “super connector” and “super value-adder” for Malaysian enterprises expanding across Asia, especially into the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) which offers immense opportunities to overseas businesses.

     To further strengthen our role as the gateway to the GBA, we are proactively driving the development of the Northern Metropolis, a mega development area of 30 000 hectares which will become Hong Kong’s new economic engine. It houses a variety of strategic economic functions: a new innovation and technology ecosystem, high-end manufacturing and professional services, a world-class university town, and a global hub for investments, new industries and talent. To attract high-potential industries and strategic enterprises, we also proactively formulate preferential policy packages, which may cover land grant, land premium and tax incentive of as low as 5 per cent only, based on enterprises’ needs.

     Business is a two-way street. Today, we have gathered over 300 guests at the luncheon, bringing together Hong Kong and Malaysian government officials, influential corporate leaders, industry experts, association representatives and representatives of Hong Kong and Mainland enterprises. The purpose is clear: to listen, connect, and explore opportunities for collaboration and business growth. Let us take full advantage of today’s events to make new friends, and chart new paths.

     Terima kasih and thank you.

Source: Hong Kong Government special administrative region – 4

The new measure of allowing dogs to enter permitted restaurants has been implemented for one month since July 9. A spokesman for the Food and Environmental Hygiene Department (FEHD) said today (August 9) that during this one-month adaptation period, the overall operation was generally smooth with a satisfactory level of compliance. Members of the public and restaurants made their choices according to their preferences and needs, and have gradually adapted to the new arrangement.

The spokesman pointed out that the first phase of the new measure sets a quota of 1 000 restaurants, and the number of permitted restaurants has increased from about 940 at the beginning to over 980 at present, reflecting the steady and continuous implementation of the measure in responding to community aspirations. However, the FEHD reminded operators that before applying for allowing dogs to enter, they must carefully consider the market positioning, customer base, and operational conditions of their restaurants, and make sufficient preparations before implementation to achieve the intended outcomes. A waiting list mechanism is established under the policy to ensure that when individual restaurants decide to withdraw, the released quotas can be reallocated swiftly and in an orderly manner.

The spokesman added that it was within expectations that assistance from the department regarding compliance with relevant regulations would be needed in the initial stage of implementation. Following continuous inspections, publicity, and education by the department, individual non-compliant behaviors have been properly rectified. As the adaptation period ends today, the department will conduct flexible inspections based on risk assessments. If non-compliance is detected, enforcement action will be taken immediately without prior warning.

Over the past month, FEHD’s dedicated team continued to inspect restaurants across various districts to provide support to each permitted restaurants, as well as enhance the compliance awareness of them and customers through publicity and education. All parties were generally able to comply with the relevant regulations. As of August 8, dedicated officers have conducted about 29 600 inspections of permitted restaurants across various districts, issued a total of 77 verbal warnings, and taken enforcement actions against serious non-compliance behaviors, including issuing warning letters to licensees of three permitted restaurants for persistent non-compliance of cooking or heating food on dining tables, and instituting two prosecutions against failure to securely hold dogs on leashes. In addition, dedicated officers also proactively inspected non-permitted restaurants, and instituted prosecutions against six of them in breach of the regulation for allowing dogs to enter.

The FEHD emphasised that both restaurants and customers must abide by the law and regulations, and expressed hope that all parties will respect each other, earnestly fulfill their respective responsibilities, and jointly promote pet inclusivity.

Source: Hong Kong Government special administrative region – 4

      The Director of Hong Kong Talent Engage (HKTE), Mr Felix Chan, led a delegation to visit New Zealand and Australia from July 29 to August 7 to attract local talent to pursue their careers in Hong Kong.

      The HKTE delegation met with representatives from five top 100 universities, namely the University of Auckland in New Zealand, Monash University and the University of Melbourne in Melbourne, Australia, as well as the University of New South Wales and the University of Sydney in Sydney, Australia. The delegation organised five promotional events, and participated in career fairs hosted by three of these universities to introduce various talent admission schemes as well as development opportunities and prospects in Hong Kong to students and alumni of the universities.

      HKTE also co-organised two start-up roundtable sessions with Invest Hong Kong in Melbourne and Sydney to present to local start-up representatives the entrepreneurship development and financing opportunities in Hong Kong and other cities in the Guangdong-Hong Kong-Macao Greater Bay Area, and a talent engagement event with the Hong Kong New Zealand Business Association in Auckland.

      In addition, HKTE invited a representative from the Hong Kong Science and Technology Parks Corporation to join the delegation to outline industry development and opportunities in Hong Kong, as well as an Australian practising accountant who is also an innovation and technology entrepreneur, and a New Zealand talent living in Hong Kong, to share their experiences in starting a business, working and settling in the city.

      Mr Chan said that the visit focused on attracting talent in biotechnology and professional services sectors. HKTE will continue to attract professionals needed by Hong Kong and help them settle in the city, thereby supporting Hong Kong’s development into an international hub for high-calibre talent.