External Direct Investment of Hong Kong in 2024

Source: Hong Kong Government special administrative region

External Direct Investment of Hong Kong in 2024 
Stocks of DI
 
     At the end of 2024, the total stock of Hong Kong’s inward DI (i.e. the position of Hong Kong’s DI liabilities) increased by 9.1% over a year earlier to $20,049.6 billion. Its ratio to the Gross Domestic Product (GDP) stood at 631% in 2024. The increase in 2024 was mainly attributable to the positive DI inflow to Hong Kong.
 
     As for the total stock of Hong Kong’s outward DI (i.e. the position of Hong Kong’s DI assets), it increased by 6.7% over 2023 to $18,890.0 billion. Its ratio to GDP was 595% in 2024. The increase in 2024 was mainly attributable to the positive DI outflow to enterprises outside Hong Kong, partly offset by the decrease resulting from exchange rate variations, as some DI assets are denominated in other currencies.
 
     Analysed by immediate source of investment, Chinese Mainland (the Mainland) and the British Virgin Islands (BVI) were the two largest sources for Hong Kong’s inward DI, with a share of 32.7% and 30.4% respectively at end-2024. Analysed by major economic activity of Hong Kong enterprise groups (HKEGs) which had received inward DI, those engaged in investment and holding, real estate, professional and business services took up the largest share, at 68.2% at end-2024. This was followed by banking, at 11.0%; and import/export, wholesale and retail trades, at 10.5%.
          
     Analysed by immediate destination of investment, the Mainland and the BVI were also the two largest destinations for Hong Kong’s outward DI, with a share of 52.1% and 27.6% respectively at end-2024. Analysed by major economic activity of HKEGs which had made outward DI, those engaged in investment and holding, real estate, professional and business services took up the largest share, at 78.8% at end 2024. This was followed by import/export, wholesale and retail trades, at 8.6%.
 
Flows of DI
 
     In 2024, total DI inflow amounted to $982.4 billion, larger than that of $954.9 billion in 2023. On the other hand, total DI outflow in 2024 amounted to $629.2 billion, smaller than that of $752.9 billion in 2023. Taking the inflow and outflow together, a net DI inflow of $353.2 billion was recorded in 2024.
 
     Analysed by immediate source of investment, the Mainland was the major source of Hong Kong’s DI inflow in 2024, amounting to $466.0 billion. The BVI came next, at $237.0 billion. Analysed by major economic activity of HKEGs which had received DI inflow, those engaged in investment and holding, real estate, professional and business services attracted the largest amount in 2024, at $588.0 billion.
 
     Analysed by immediate destination of investment, the Mainland accounted for a predominant share of Hong Kong’s DI outflow in 2024, at $372.9 billion. The BVI came next, at $198.9 billion. Analysed by major economic activity of HKEGs which had made DI outflow, those engaged in investment and holding, real estate, professional and business services took up the largest amount, at $452.9 billion.
 
Commentary
 
     A Government spokesman said that Hong Kong remains one of the world’s major destinations for and sources of external DI. Total DI inflow and outflow continued to be significant in 2024, at $982.4 billion and $629.2 billion respectively. The stocks of overall inward and outward DI also increased further to $20,049.6 billion and $18,890.0 billion (631% and 595% of GDP) respectively at end-2024. These testify Hong Kong’s status as a prominent international centre for finance and commerce and a preferred base for multinational corporations, while also reflect strong global investor confidence in Hong Kong’s economic prospects.
 
     Hong Kong’s DI covers a large geographical spread and a wide range of economic activities, with the Mainland featuring prominently both as a source and as a destination. This underscores Hong Kong’s pivotal roles as a “super connector” and a “super value-adder”.
 
     The Government will continue to leverage on Hong Kong’s unique advantages in fulfilling its role in connecting the Mainland with the world. Persistent efforts have been made in deepening Hong Kong’s international connectivity on all fronts, and proactive measures have been taken in attracting more Mainland enterprises to use Hong Kong as a platform to go global. The Government will also strengthen its policies for bringing in more strategic enterprises to set up in Hong Kong, thereby promoting high-quality development.
 
Further Information
 
     DI represents external investment in which an investor of an economy acquires a lasting interest and a significant degree of influence or an effective voice in the management of an enterprise located in another economy. For statistical purpose, an effective voice is taken as being equivalent to a holding of 10% or more of the voting power in an enterprise.
 
     According to the international statistical standards, the total stocks and flows of DI presented above are compiled based on the “asset/liability principle”, while detailed DI figures analysed by country/territory and by major economic activity of HKEGs are based on the “directional principle”. Owing to the adoption of different presentation principles, the total stocks and flows of DI are different from the sums of the detailed DI figures by country/territory or by major economic activity of HKEGs. However, the overall direct investment balance compiled from figures based on these two presentation principles respectively is the same.
 
     Tables 1 and 2 show the positions (i.e. stocks) and flows of inward DI in Hong Kong by selected major investor country/territory and by major economic activity of HKEGs respectively for 2023 and 2024. Similar statistics on outward DI from Hong Kong are presented in Tables 3 and 4.
          
     More detailed statistics are given in the report “External Direct Investment Statistics of Hong Kong 2024”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1040003&scode=260 
     Enquiries about the DI statistics may be directed to the Balance of Payments Branch (2) of the C&SD at 3903 7024.
Issued at HKT 16:30

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Special traffic and transport arrangements for 59th Hong Kong Brands and Products Expo

Source: Hong Kong Government special administrative region

Special traffic and transport arrangements for 59th Hong Kong Brands and Products Expo 
* Pedestrianisation will continue to be implemented at East Point Road, Lockhart Road east of Cannon Street, and Great George Street west of Paterson Street from 4pm to midnight on Mondays to Fridays (except public holidays), and from noon to midnight on Saturdays, Sundays and public holidays;
 
* Depending on the on-site crowd and traffic conditions, the section of Gloucester Road between Kingston Street and Causeway Road, Sugar Street, Great George Street, Paterson Street, Kingston Street, Cleveland Street, Hing Fat Street (except franchised buses and green minibuses), Electric Road and Lau Li Street may be closed temporarily or intermittently, and a corresponding traffic diversion will be implemented upon the Police’s request;
 
* Bus stops on Causeway Road outside Victoria Park will be rearranged temporarily;
 
* The public light bus stands at Paterson Street and Sugar Street, and the taxi stands at Paterson Street and Lau Li Street may be suspended upon the Police’s request; and
 
* Hing Fat Street Public Carpark (except for disabled parking spaces) will be suspended at different time slots daily from December 10, 2025 to January 6, 2026.
 
     Details of the special traffic and transport arrangements are available on the TD’s website (www.td.gov.hk 
     Members of the public are advised to make use of public transport services as far as possible to avoid traffic congestion and unnecessary delays. The TD and the Police will closely monitor the traffic situation and implement appropriate measures when necessary. The Police may adjust the traffic arrangements, subject to the prevailing crowd and traffic conditions. The public should pay attention to the latest traffic news through radio, television or “HKeMobility”.
Issued at HKT 16:00

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Proprietors fined for violation of safety legislation

Source: Hong Kong Government special administrative region

Proprietors fined for violation of safety legislation      
     The case involved a fatal accident that occurred on December 23, 2024, at an open storage yard in Sheung Shui. Standing beside a lorry-mounted crane, a worker was struck by metal pipes that suddenly rolled off the deck of the crane after unfastening the tightening straps securing the metal pipes. The worker was certified dead on the same day.
Issued at HKT 15:50

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Speech by SCST at Jockey Club HKCGI Sports Governance Programme: International Symposium on Sports Governance and Integrity (English only)

Source: Hong Kong Government special administrative region

     Following is the speech by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, at the Jockey Club HKCGI (Hong Kong Chartered Governance Institute) Sports Governance Programme: International Symposium on Sports Governance and Integrity today (December 9):

Winfried (Chief Executive Officer of the Hong Kong Jockey Club, Mr Winfried Engelbrecht-Bresges), Moray (Executive Director of Security, Integrity and Information Security of the Hong Kong Jockey Club, Mr Moray Taylor-Smith), David (President of the Hong Kong Chartered Governance Institute, Mr David Simmonds), Irene (Assistant Director of Corruption Prevention of the Independent Commission Against Corruption (ICAC), Ms Irene Wang), Edgar (Honorary Secretary General of the Sports Federation & Olympic Committee of Hong Kong, China (SF&OC), Mr Edgar Yang), friends from the sports sector, ladies and gentlemen,

Public consultation on implementation of Crypto-Asset Reporting Framework and amendments in relation to Common Reporting Standard launched

Source: Hong Kong Government special administrative region

Public consultation on implementation of Crypto-Asset Reporting Framework and amendments in relation to Common Reporting Standard launched      
     Hong Kong has long been supportive of international efforts to enhance tax transparency and combat cross-border tax evasion. Since 2018, Hong Kong has been exchanging financial account information automatically with partner jurisdictions on an annual basis in accordance with the CRS developed by the OECD, which enables the relevant tax authorities to utilise such information for tax assessments, as well as for detecting and combating tax evasion.
      
     In light of the rapid development of digital asset markets in recent years, in 2023, the OECD published CARF to provide for the automatic exchange of tax information on crypto-asset transactions with partner jurisdictions on an annual basis, and incorporated into the CRS new digital financial products and enhanced requirements regrading reporting and due diligence.
      
     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “To demonstrate our commitment to promoting international tax co-operation and combating cross-border tax evasion, as well as to fulfil our international obligations, Hong Kong will make amendments to the Inland Revenue Ordinance (Cap. 112) (the Ordinance) for implementing CARF and the newly amended CRS. This is also of paramount importance in maintaining Hong Kong’s reputation as an international financial and commercial centre.
      
     “The Government plans to complete the necessary local legislative amendments in the coming year, with a view to commencing the automatic exchange of tax information on crypto-asset transactions with relevant partner jurisdictions starting from 2028, and implementing the newly amended CRS starting from 2029. Hong Kong will implement the automatic exchange of tax information with suitable partners, which are required to meet the standards relating to the protection of data confidentiality and security, on a reciprocal basis.”
      
     In addition, since 2024, the OECD has been conducting the second round of a peer review on the effectiveness of Hong Kong’s administrative framework for implementing the CRS. Having taken into consideration the OECD’s views, the Government proposes, through amendments to the Ordinance, to introduce mandatory registration for financial institutions to enhance identification, as well as to raise the penalty levels and enhance the enforcement mechanism, in order to maintain a favourable rating in the OECD’s peer reviews and maintain Hong Kong’s reputation as an international financial and commercial centre.
      
     The consultation paper is available on the website of the Financial Services and the Treasury Bureau (www.fstb.gov.hk/tb/en/others/consultation.htmIssued at HKT 15:00

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Appointments to Vocational Training Council announced

Source: Hong Kong Government special administrative region

Appointments to Vocational Training Council announced      
     The Secretary for Education, Dr Choi Yuk-lin, welcomed the appointment. She said, “Mr Lam possesses a profound understanding of and an ample network in various industries, which positions him to provide strategic directions and foster collaboration across diverse sectors. I am confident that, with his passion in promoting vocational and professional education and training (VPET) and breadth of experience in the commercial and industrial sectors, Mr Lam will inject invaluable expertise and a strategic vision into the VTC’s future development.”

   In addition to the reappointment of Mr Paul Chong Kin-lit as Deputy Chairman and Dr Rocky Cheng Chung-ngam, Mr Alan Cheung Yick-lun, and Ms Monica Lee-Müller Yuk-har as members, Dr Wingco Lo Kam-wing is appointed as Deputy Chairman, and Mr Jack Chan Hoi is appointed as member.          
     The membership list of the new term of the VTC is as follows:———–
Mr Jeffrey Lam Kin-fung^
 
Deputy Chairmen
——————-
Mr Paul Chong Kin-lit#
Dr Wingco Lo Kam-wing^
 
Members
———-
Mr Jack Chan Hoi^
Ms Sabrina Chao Sih-ming 
Dr Rocky Cheng Chung-ngam#
Mr Alan Cheung Yick-lun#
Mr Chiang Tung-keung 
Mr Gary Lau Sun-tao
Mr Bosco Law Ching-kit 
Ms Monica Lee-Müller Yuk-har#
Professor Kenneth Leung Mei-yee 
Mr Ricky Leung Wing-kee
Mr Sunny Tan 
Mr Tse Wang-yu
Mr Bosco Ying Pui-chi
Deputy Secretary for Education (or his/her representative)
Director-General of Trade and Industry (or his/her representative)
Commissioner for Labour (or his/her representative)
Executive Director of Vocational Training Council# Reappointed members
 
     The VTC was established in 1982 with a mission to provide a comprehensive system of vocational education and training as well as multiple pathways for young people, and to meet the needs of different industries in Hong Kong. The 14 member institutions of the VTC provide a broad spectrum of pre-employment and in-service education and training programmes, covering a wide range of industries and catering for students with different backgrounds and abilities.
Issued at HKT 15:00

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Speech by STL at Airspace Asia Pacific 2025

Source: Hong Kong Government special administrative region

     Following is the speech by the Secretary for Transport and Logistics, Ms Mable Chan, at the Airspace Asia Pacific 2025 today (December 9):

Mr Hocquard (Director General of the Civil Air Navigation Services Organisation (CANSO), Mr Simon Hocquard), Mr Han (Director-General of the Civil Aviation Authority of Singapore and Chair of the Asia Pacific CANSO, Mr Han Kok-juan), Mr Arel (Chair of CANSO, Mr Tim Arel), Messrs Ma (Deputy Administrator of the Civil Aviation Administration of China (CAAC), Mr Ma Bing, and Regional Director of Asia Pacific Office, International Civil Aviation Organization (ICAO), Mr Ma Tao), Mr Miao (Director-General of the Air Traffic Management Bureau of the CAAC, Mr Miao Xuan), distinguished guests, ladies and gentlemen,

     Good morning, and to our friends from abroad, a very warm welcome to Hong Kong. It is my great honour to address the CANSO Airspace Asia Pacific 2025. With our prime location right at the heart of Asia, half of the world’s population are within five hours by air. Not to mention as a premier southern gateway to the world’s second largest economy – the Chinese Mainland – Hong Kong is truly the perfect place to host this remarkable event.

     Backed by firm national support and strong global connectivity, Hong Kong is widely recognised as an international aviation hub. Hong Kong International Airport (HKIA) is a world leader in air cargo and a top international passenger airport. Last year, it handled 53 million passengers, an increase of one-third year-on-year, ranked among the top 10 busiest international passenger airports in the world. Over the first 10 months this year, HKIA already handled over 50 million passengers, representing 15 per cent growth compared to the same period last year. Cargo volume rose by 2.3 per cent year-on-year to over 4.1 million tonnes. Currently, about 140 airlines are operating, connecting us to over 200 destinations around the world. I’m very happy to say today that HKIA is just named by the 2025 World Travel Awards as the world’s leading airport in terms of customer experience.

     As we have turned our dual-runway into a three-runway system, we are accelerating the expansion of the aviation network. Over the past two years, we have expanded bilateral air services agreements with more than 10 countries. I am happy to tell you that just the past two months, we have managed to strike deals and detailed agreements with a handful of South American countries, namely Chile, Argentina, Ecuador, Peru, Cuba, as well as Poland in Europe and Togo in West Africa. These are all countries in our major aviation partner network, including under the Belt and Road Initiative. In a way, we hope that we will extend our air connectivity to support our business and tourism sectors when dealing with all these countries. 

     While managing the very busy high-altitude air traffic, we are also actively exploring the opportunities presented by emerging unmanned air mobility technologies flying at the low altitude. As one of the themes of this conference, “Seamless Airspace: Integrating Manned, Uncrewed, and Advanced Air Mobility” is a powerful reflection of both the dynamic skies around the world. Today, allow me to take you through our journey of turning this vision of seamless integration from concept into tangible reality.

     In Hong Kong, a city known for its ambition and innovation, we are building a new layer of intelligent, connected infrastructure in the airspace below 1 000 metres. We recognise that the low-altitude economy (LAE) is a very powerful convergence of aviation, digitalisation and green technology. But its success hinges on one critical factor: the safe, efficient and scalable integration of new air mobility technologies and solutions into our existing airspace system.

     Our strategy to achieve this is built on a disciplined, three-phase approach, and together we mapped out a roadmap that helps us to move from very controlled testing scenarios to real-life, full-scale applications.

     First, we began with conceptualisation and proof of concept. In March this year, we launched our LAE “Regulatory Sandbox”. This initiative marked our practical starting point for integration, inviting enterprises, technology and academic institutions to establish very tightly and well-managed controlled corridors to test real-world applications. The initial results are very promising just over the past nine months. To name a few:
 

  • We have achieved a groundbreaking 18-minute cross-sea medical delivery by drone, cutting delivery time by over 60 per cent and proving the efficiency of unmanned logistics.
  • Partners like the MTR Corporation (MTR Corporation Limited) are integrating and implementing AI-enabled drone systems for railway infrastructure maintenance, surveillance, and preventive maintenance. In a way, they are creating a smart eye in the sky that enhances both safety and efficiency. 
  • Crucially, over a dozen government departments are already adopting low-altitude economy applications by using drones, embedding this new opportunity into the fabric of public services and urban management.

     These are not isolated trials. They are the fundamental and foundational steps in helping us to build trust, reliability and operational data for a shared airspace.

     Second, we are now advancing to consolidation and complex integration through the LAE “Regulatory Sandbox X” scheme, which was just launched two weeks ago. “X” in the project’s name denotes extra complexity and extended scale, so it is really limitless opportunities. Directly aligned with CANSO’s theme, this phase deliberately introduces more sophisticated integration scenarios. We are heading to more challenging scenarios like cross-boundary logistics, using heavier drones and even passenger-carrying drones. Our focus will be on the key modules including an unmanned aircraft traffic management system, eVTOLs and an integrated platform. 

     The fundamental objective of this phase is to address a critical question before us: What creates outsized economic value while maintaining acceptable risk? It serves as our practical, real-world laboratory for pioneering the harmonisation of both air traffic and unmanned air traffic management system.

     And ultimately, our path leads to a codified action plan. By the end of next year, the data and experience from these two phases of “Regulatory Sandbox” schemes will help us to culminate data into a comprehensive action plan. Underpinning this roadmap are two essential enablers.

     First, an adaptive regulatory framework. We have actually, with the help of the past Legislative Council, already started our legislative amendment exercise. We will also embark on an exercise to map out a dedicated law to enable us to advance to a more complex and integrated low-altitude air traffic management and safety system. Compliance is our top priority. It is a guardrail from the start and absolutely will not be a checkpoint at the end. With the successful implementation of the Legislative Council General Election, we are here to work closely with our new elected Legislative Councillors in partnership so as to advance and expedite our law amendment exercise. 

     The second enabler is a collaborative ecosystem for regional leadership. Seamless airspace cannot be achieved in isolation. Hong Kong, with our strengths as an international financial centre and a hub for legal and insurance services, is mobilising our capital and risk-management expertise in order to provide solutions for the entire industry. Furthermore, our position in the Guangdong-Hong Kong-Macao Greater Bay Area of the Chinese Mainland gives us unrivalled access to world-class manufacturing and R&D (research and development) hubs. This synergy between Hong Kong’s international standards and the region’s innovation capacity creates a perfect launchpad for the low-altitude economy. We are actively engaging in global standard-setting technologies and dialogues, including those with ICAO, to ensure the frameworks we develop contribute to regional and global harmonisation.

     Ladies and gentlemen, our journey follows a simple, evidence-based cadence: plan, test, learn and decide. We are building more than a low-altitude economy; we are building a blueprint for the seamless, safe, innovative and efficient airspace of the future – not just locally, but globally.

     Hong Kong is fully committed to collaborating with all of you – our partners across the Asia-Pacific region and the world – to ensure that our skies remain a realm of limitless opportunities. Together, we will pioneer an airspace where manned and unmanned vehicles integrate seamlessly and safely, fuelling economic growth and connecting our communities in once unimaginable ways.

     Thank you again, and I wish you a very fruitful, positive and collaborative conference today. Thank you very much.

Relocation of Employees’ Compensation Division (Operations) Team E of Labour Department

Source: Hong Kong Government special administrative region

Relocation of Employees’ Compensation Division (Operations) Team E of Labour Department 
     The address of the new office is Room 301, 3/F, North Tower, Tseung Kwan O Government Offices, 30 Tong Yin Street, Tseung Kwan O, New Territories (via Exit B1 of MTR Tseung Kwan O Station or Exit A2 of MTR Tiu Keng Leng Station). The office will be open from Monday to Friday from 9am to 1pm and from 2pm to 6.15pm, and closed on Saturdays, Sundays and public holidays. The enquiry telephone number of the office will be changed to 3863 0149 and 3863 0150. The facsimile number will remain unchanged.
 
     To facilitate the relocation, the current office of Team E at 18/F, One Mong Kok Road Commercial Centre, 1 Mong Kok Road, Kowloon, will cease services after office hours on December 12.
Issued at HKT 11:00

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Speech by SCED at Global Supply Chain Summit and Conference 2025 (English only)

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 Global Supply Chain Summit and Conference 2025 today (December 9):
 
William (Chairperson of the Advisory Board of the HKUST Li & Fung Supply Chain Institute, Dr William Fung), Victor (Chairman of Fung Investments, Dr Victor Fung), distinguished guests, friends and partners, ladies and gentlemen,
 
     Thank you for inviting me to this year’s annual conference under the theme “Reinvention of global supply chains”. I am joining you today as we explore the far-reaching transformations shaping global supply chains, the strategic responses from governments and businesses, and the exciting opportunities these changes present, especially for Hong Kong.
 
     Let me begin by expressing my sincere appreciation to the Fung Group and the Hong Kong University of Science and Technology for organising this high-level event and bringing together such an esteemed gathering of thought leaders, academics, and industry professionals.
 
Shifting global supply chain
 
     The global supply chain landscape is undergoing profound change, driven by several forces. Chief among them is the shifting geopolitical environment. While trade tensions between China and the United States have moderated somewhat in recent months, we must acknowledge that structural changes in their trade relationship are now deeply embedded in the global system.
 
     Despite a growing call for onshoring and nearshoring in developed markets, China’s enduring competitive strengths ensure its continued centrality in global supply chains. Our country has maintained its position as the world’s largest manufacturing economy for 15 consecutive years, commanding close to 30 per cent of global manufacturing output. China possesses a comprehensive manufacturing system that cannot be easily replicated elsewhere.
 
     Meanwhile, regional trade co-operation is accelerating. A prime example is China’s deepening economic ties with Southeast Asia. In 2024, intermediate goods made up around 67 per cent of the trade between China and the Association of Southeast Asian Nations (ASEAN). Total trade reached a record US$860 billion in the first 10 months of 2025, an increase of more than eight per cent year-on-year. Supply chain reconfiguration is taking place, but it is creating complementary, not competition across the Asia-Pacific region.
 
     Hong Kong, as a key re-export hub, has witnessed substantial growth in this business. Our merchandise exports have recorded growth for 20 consecutive months, rising by over 13 per cent year-on-year in value during the first 10 months of 2025. More significantly, exports to the Chinese Mainland increased by over 15 per cent, and to ASEAN by over 30 per cent.
 
     This trend will continue in the foreseeable future. China will continue to advance its agenda of high-quality development. The recent Fourth Plenary Session of the 20th Central Committee of the Communist Party of China has laid out comprehensive recommendations for the nation’s 15th Five-Year Plan, reaffirming China’s commitment to high-level two-way opening up. A significant part of it is to strengthen economic co-operation and supply and industry chain collaboration with Belt and Road countries and the Global South at large.
 
     Another major force driving supply chain transformation is the growing importance of sustainability and technology. Global regulatory requirements and consumer expectations around carbon neutrality are reshaping production and logistics. Manufacturers are being called upon to meet stringent environmental standards, requiring significant investment and innovation.
 
     Simultaneously, technological advances in artificial intelligence (AI), automation, and materials science are revolutionising production processes. These innovations support more customised, localised manufacturing models that reduce reliance on long and complex supply chains.
 
     In this evolving environment, the question naturally arises: What is Hong Kong’s strategic role? The answer lies in our unique position and competitive advantages. Under the “one country, two systems” principle, Hong Kong enjoys the best of both worlds: convenient and sometimes priority access to the Mainland’s vast market, and seamless connectivity with the rest of the world.
 
     Despite geopolitical uncertainties, Hong Kong continues to be a free port, maintaining the free movement of goods, capital, information and people. Our common law system, sound regulatory environment, low and simple tax regime, and freely convertible currency create a robust and stable foundation for international business.
 
     Hong Kong is well-positioned to become a hub in the reconfiguration of global supply chains, especially as Chinese enterprises expand into Southeast Asia, the Middle East and the Global South. We provide comprehensive financial, legal, advisory, logistics, and strategic support services.
 
     Hong Kong is increasingly recognised by Chinese enterprises as the essential platform for establishing regional and global headquarters, fund-raising, trade financing, corporate treasury management, ESG (environmental, social and governance) compliance, offshore trading, R&D (research and development), and much more.
 
     A vivid example is CATL (Contemporary Amperex Technology Co Limited), the world’s largest IPO (initial public offering) this year, which raised capital in Hong Kong to support its expansion in Hungary. It has also established a global R&D centre here in this city. Increasingly, Mainland enterprises are following this path. In fact, over 300 Mainland companies are currently in the IPO pipeline, many of which plan to use Hong Kong as a strategic base for their overseas expansion.
 
     Building on this momentum, both the Policy Address and the Budget over the past two years have set out a clear strategic vision for Hong Kong to develop into a high value-added, multinational supply chain management centre.
 
     And this year, we are going further. We have established a GoGlobal Task Force (Task Force on Supporting Mainland Enterprises in Going Global), bringing together government departments and agencies like the Hong Kong Monetary Authority as well as relevant non-governmental organisations such as the Hong Kong Trade Development Council, the Hong Kong Stock Exchange and the Hong Kong Productivity Council, to be more coordinated in attracting and assisting Mainland enterprises to expand internationally through Hong Kong.
 
     Measures include, for instance, encouraging Mainland banks to establish regional headquarters in Hong Kong to support Mainland firms entering Southeast Asian and Middle Eastern markets; offering tax concessions to attract more Mainland companies to set up corporate treasury centres here; and promoting carbon auditing services, to help companies meet growing sustainability requirements.
 
     Looking ahead, I believe there is more Hong Kong can do in supporting or even driving supply chain reconfiguration.
 
     Our world-class financial institutions are uniquely positioned to develop innovative financing tools tailored for modern supply chains. These include advanced trade finance solutions, such as blockchain-based trade finance platforms that are already reducing transaction times, lowering counterparty risk, and improving transparency.
 
     A good example is Project CargoX, launched earlier this year by the Hong Kong Monetary Authority together with public and private sector partners. It is an initiative that leverages cargo data to streamline trade finance processes. It is now exploring partnerships with international data providers to support cross-border trade financing use cases.
 
     Other areas include ESG-linked lending, green bonds and other financial instruments that help support regional supply chain initiatives.
 
     At the same time, many start-ups from Hong Kong and the Mainland are leading in areas such as AI-driven logistics optimisation and IoT (Internet of things)-enabled supply chain visibility. Hong Kong’s international business and regulatory environment provides a fertile testing ground for these cutting-edge technologies, and a global showcase for their capabilities.
 
     With these strengths, Hong Kong has great potential to become a global leader in next-generation supply chain solutions.
 
Concluding remarks
 
     Ladies and gentlemen, this conference brings together some of the most insightful minds and influential leaders from Hong Kong, the Mainland and around the world.
 
     I am confident that today’s discussions will inspire not only fresh perspectives but also tangible outcomes: new research collaborations, joint ventures, cross-border partnerships, and innovative approaches to managing supply chains in this era of geopolitical complexity, sustainability imperatives, and technological disruption.
 
     Hong Kong stands ready to play a pivotal role in this transformation.
 
     I wish this conference every success, and I look forward to the exciting partnerships and innovations that will emerge from your dialogue. Thank you very much.

Vaccine indemnity fund ends Dec 23

Source: Hong Kong Information Services

The Government today announced that the Indemnity Fund for Adverse Events Following Immunization with Coronavirus Disease-2019 Vaccines will cease accepting applications at midnight on December 23, 2025, as scheduled.

The Government established the fund in 2021 to provide instant financial support to eligible individuals suffering from unexpected serious adverse events (SAEs) associated with the administration of vaccines approved for emergency use under the Government’s COVID-19 Vaccination Programme.

On December 18, 2023, the Government announced that the fund only covered vaccines administered under the vaccination programme on or before December 23, 2023.

Individuals who received vaccinations under the programme on or before December 23, 2023, with proof of suffering from the SAEs certified by a registered medical practitioner, are still eligible to apply for the fund within two years after receiving the last vaccine dose. The two-year period will expire at midnight on December 23, 2025.

The fund is an administrative arrangement. The cessation of its operation will not affect the right of relevant individuals in seeking legal recourse for damages or losses against the vaccine manufacturer. Affected individuals can still undertake civil action for claims against any person responsible for their bodily injury.

Call 2894 4699 for enquiries.