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FS meets Saudi business leaders

Source: Hong Kong Information Services

On a visit to Saudi Arabia, Financial Secretary Paul Chan, leading a delegation, participated in activities of the Future Investment Initiative, engaged in exchanges with local political and business leaders, visited local innovation and technology (I&T) institutions, and viewed urban planning and conservation projects.

In the morning, Mr Chan attended a breakfast session of the Future Investment Initiative and took part in a fireside chat to share his views on the prospects for strengthening economic, trade and financial ties between Hong Kong and the Middle East.

Mr Chan noted that against the backdrop of increasing global geopolitical and economic fragmentation, economic and financial links between China as well as other parts of Asia and the Middle East continue to deepen, and Hong Kong will further leverage its role to support Mainland enterprises in going global, expanding their industrial and supply chains, and tapping into overseas markets.

Hong Kong, while standing ready to offer capital and professional services to Middle Eastern businesses seeking to enter the Mainland and Asian markets, is well placed to promote cross-border capital flows as well as provide diversified infrastructure financing models, he stressed.

The finance chief added that Hong Kong is accelerating cross-border financial and I&T collaboration with the Middle East, with a number of startups and tech companies from Hong Kong and the Greater Bay Area establishing a presence in the Gulf.

Later in the day, the Financial Secretary and the delegation met Saudi National Bank’s senior management. The Hong Kong delegates introduced their respective businesses and conveyed interest in connecting with financial institutions, investors and enterprises in Saudi Arabia in order to explore business opportunities. In concluding remarks, Mr Chan highlighted Hong Kong’s active role in supporting investment and capital flows with Saudi Arabia.

The delegation called on the Digital Cooperation Organization in the afternoon. Its Director-General Hajar El Haddaoui expressed interest in facilitating greater exchanges between startups and innovative enterprises from its member states and the Hong Kong delegation.

The delegation also visited The Garage, an I&T incubation platform under the King Abdulaziz City for Science & Technology, to understand its operations and the local government’s policies in nurturing startups. Both sides discussed potential collaboration in areas such as incubation, talent exchanges and scientific research.

Afterwards, the Hong Kong group toured Diriyah and the At-Turaif district, a UNESCO World Heritage Site, to learn about urban revitalisation initiatives there.

In the evening, Mr Chan attended a welcome dinner hosted by the China Council for the Promotion of International Trade for Chinese and Saudi business communities.

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Dr Sun Yat-sen Museum reopening on November 7

Source: Hong Kong Government special administrative region

Dr Sun Yat-sen Museum reopening on November 7 
     Built in 1914, the SYSM is located in the Kom Tong Hall, which was originally the residence of businessman Ho Kom-tong. The building façade ornately features verandahs with Greek-style granite columns. The inside presents the French-style “White Hall”, stained-glass windows, a teak staircase, and verandah glazed wall tiles preserved in good condition. The Kom Tong Hall was declared a monument in 2010.
 
     Opened to the public in 2006, the SYSM hosts exhibitions that provide a comprehensive overview of Dr Sun Yat-sen’s life, the scene of Hong Kong during his time, as well as the history and architectural features of the Kom Tong Hall.
 
     For details and opening hours of the SYSM, please visit hk.drsunyatsen.museum/en/web/sysm/home.htmlIssued at HKT 15:36

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Speech by SCED at plenary session of APEC Ministerial Meeting (2) (English only)

Source: Hong Kong Government special administrative region

     Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the plenary session themed “Connect” at the 36th Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting in Gyeongju, Korea, today (October 30):

Thank you, Chair.

     I would like to first thank the Secretary-General of the Organisation for Economic Co-operation and Development for his insightful remarks.

     We gather at the time when the global trading landscape is undergoing profound transformation, driven by rapid technological advancements, escalating geopolitical tensions, rising protectionism, increasing fragmentation and other emerging issues like climate change. All these are reshaping the international trade order.

     In navigating this increasingly complex landscape, the multilateral trading system underpinned by the World Trade Organization (WTO) continues to play a pivotal role. The WTO, with its core principles of non-discrimination and co-operation as well as various critical roles and functions, has led the world trade to flourish for decades. In these unprecedented and challenging times, we believe that an open, stable, transparent, inclusive and predictable rules-based international trading environment is more crucial than ever, particularly for less developed economies, enabling them not just to survive but also to thrive on emerging opportunities.

     Notwithstanding the importance of the WTO, it is imperative that the WTO recalibrate its priorities and strategies to remain relevant. The WTO must update its rulebook, not only on substance but also in the way it works, to better meet the demands of today’s global economy. Full-scale engagements are taking place to improve the WTO’s functions, and we remain hopeful that these efforts will yield meaningful deliverables at the 14th Ministerial Conference scheduled for next March.

     While navigating reforms for the WTO amid the multilateral gridlock and geo-economic fragmentation, economies have resorted to plurilateral and regional activities. Plurilateral initiatives are a logical and realistic vehicle to make progress in the interim, particularly when it is increasingly difficult to achieve consensus across all WTO membership. That said, we should maintain the supremacy of the multilateral trading system in governing global trade, through leveraging APEC as the premier forum for multilateral engagement. As an incubator of innovative ideas, APEC has a unique role to play in fostering regional dialogue, contributing constructively to the ongoing WTO reform process and facilitating international co-operation.

     APEC itself has also been active in addressing issues that affect the region, such as enhancing the resilience of our supply chains against shocks and threats. Being an externally oriented economy, seamless and effective supply chains are essential to Hong Kong, China. Among other strategies, we have leveraged technological innovations, not least artificial intelligence, in this context. For instance, AI is applied to facilitate customs enforcement, cargo clearance and matchmaking for airline partnerships. We are also actively building connectivity on trade single window with key trading partners such as the Association of Southeast Asian Nations. We look forward to sharing our experiences with member economies, so that we can jointly enhance the resiliency and adaptability of the supply chains in the region.

     Hong Kong, China remains committed to working with member economies to overcome the challenges we face, whether they are short-term shocks or long-term structural shifts, so that we can achieve shared prosperity.

     Thank you.

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Base rate lowered to 4.25%

Source: Hong Kong Information Services

The Monetary Authority announced today that the Base Rate has been set at 4.25% with immediate effect.

The decrease follows a 25-basis point downward adjustment in the target range for the US federal funds rate on October 29.

The base rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through the Discount Window are computed.

It is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate, or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates, whichever is higher.

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EPD and HKIQEP jointly hold symposium to promote green economy (with photos)

Source: Hong Kong Government special administrative region

     The Environmental Protection Department (EPD) and the Hong Kong Institute of Qualified Environmental Professionals (HKIQEP) today (October 30) cohosted a symposium titled “Advancing the Green Economy through Innovation and Collaboration” at AsiaWorld-Expo, Hong Kong.

     As one of the programme highlights of the 20th Eco Expo Asia, the symposium brings together government representatives, industry leaders, academics and professionals to foster professional dialogue, deepen partnerships, and promote Hong Kong’s vision in sustainable development and the green economy.

     In his welcoming speech at the symposium, the President of the HKIQEP, Mr Freeman Cheung, said the HKIQEP firmly believes that technology and collaboration are the key driving forces of promoting sustainable development. A cleaner, wiser and more sustainable Hong Kong can be built by enhancing environmental assessment, advancing smart city development and leveraging the collaborative strengths of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

     The Director of Environmental Protection, Dr Samuel Chui, officiated at the symposium. In his speech, he highlighted that this year’s Policy Address sets out the Government’s commitment to fostering a green and low-carbon living environment and promoting the commercialisation of green information and technology outcomes, thereby developing Hong Kong into a demonstration base for green technology. He further stressed that collaboration between public and private sectors, academia and professional organisations is crucial to achieving these goals.

     Dr Chui said, “Our collaboration should transcend geographical constraints, actively leverage opportunities brought by the development of the GBA and the Belt and Road (B&R) Initiative, and share expertise in environmental protection and green solutions. Next year, the Hong Kong Special Administrative Region (HKSAR) Government will set up the B&R sustainable green development training centre to nurture talent in international environmental protection. The training centre will serve as a base for connecting the HKSAR with the global network for sustainable green development co-operation. The EPD is looking forward to working closely with the HKIQEP to contribute to regional and global sustainable development goals.”

     The symposium featured in-depth discussions on various important themes, including smart environmental assessment, biodiversity technology, green finance, and supply chain decarbonisation. Attendees unanimously agreed that cross-departmental collaboration and the integration of green innovative technology solutions are pivotal to achieving Hong Kong’s climate action and sustainable development goals.

     At the symposium, the HKIQEP signed a Memorandum of Understanding with the GBA Eco-environmental Science Center and the Capacity-building Alliance of Sustainable Investment respectively, to deepen cross-regional co-operation and enhance professional capacities. Dr Chui witnessed the signing ceremony.

        

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Intensifier les lien avec la Papouasie-Nouvelle-Guinée

Source: Gouvernement de la Nouvelle-Caledonie

Le président du gouvernement Alcide Ponga a fait le bilan de sa visite en Papouasie-Nouvelle-Guinée du 26 au 29 octobre 2025. Une séquence qui s’inscrit dans une dynamique de réintégration pleine et entière de la Nouvelle-Calédonie au sein de son environnement mélanésien.

Une étape décisive dans la réintégration régionale de la Nouvelle‑Calédonie

Après les Îles Salomon en septembre, cette mission en Papouasie-Nouvelle‑Guinée précède celles prévues au Vanuatu (décembre 2025) et aux Fidji (premier trimestre 2026). Ces déplacements visent à redynamiser les relations politiques, économiques, éducatives et culturelles entre la Nouvelle‑Calédonie et les pays voisins de l’arc mélanésien.

Cette visite marque une nouvelle étape dans la mise en œuvre du cadre conjoint de coopération signé en 2018 par les deux chefs de gouvernement, qui fixe les grandes orientations des partenariats à développer entre Port Moresby et Nouméa.

« Il faut nous ouvrir à d’autres horizon et nous réintégrer dans notre région, a affirmé le président du gouvernement. Nous pouvons nous inspirer de nos voisins dans certains domaines et leur offrir notre expertise dans d’autres. Nos frères mélanésiens sont demandeurs de pistes de coopération avec la Nouvelle-Calédonie et ce, dans de nombreux secteurs ».

Le déplacement a également permis de soutenir activement la mission économique conduite sous la bannière Team France Export – Nouvelle-Calédonie, un dispositif fédérant les entreprises calédoniennes désireuses d’explorer le marché papou et plus largement océanien.

Un dialogue politique renforcé

Le président du gouvernement a rencontré le Premier ministre James Marape ainsi que le ministre des Affaires étrangères Justin Tkatchenko. Ces entretiens bilatéraux ont permis de réaffirmer la volonté partagée de consolider la relation politique et diplomatique entre les deux territoires, en l’élargissant à de nouveaux champs de coopération.

Les deux parties ont convenu de donner corps au cadre conjoint de coopération à travers des projets concrets dans les domaines :

  • économique et commercial ;
  • sportif et culturel ;
  • éducatif, notamment via les échanges universitaires et la création de nouveaux cours de langue française en Papouasie‑Nouvelle‑Guinée.

Définir ensemble les priorités sectorielles

Au-delà du dialogue politique, cette mission a permis d’engager un travail de fond pour identifier les secteurs prioritaires de coopération sur la base d’échanges avec des acteurs majeurs du développement papou.

Les rencontres ont notamment porté sur :

  • l’énergie ;
  • les mines ;
  • le transport aérien, à travers Air Niugini ;
  • la coopération portuaire avec les autorités du Port de Rabaul et les perspectives de développement du transport maritime.

Ces échanges contribueront à bâtir une feuille de route concertée, établie sur les complémentarités entre la Nouvelle‑Calédonie et la Papouasie‑Nouvelle‑Guinée.

Mise en valeur du savoir‑faire calédonien

La présence de la mission économique Team France Export – Nouvelle‑Calédonie a constitué un temps fort de cette visite. Le président du gouvernement s’est félicité de la participation d’une délégation d’entreprises calédoniennes ambitieuses, venues présenter leurs savoir‑faire et explorer les opportunités d’affaires dans un marché encore peu connu.

Leurs présentations de qualité ont permis de mettre en lumière l’expertise calédonienne dans plusieurs secteurs de pointe. Ces entreprises incarnent la capacité du tissu économique calédonien à s’ouvrir à la région et à contribuer activement à l’intégration régionale par leurs activités.

Le président a également rencontré à Port Moresby un expert calédonien représentant Airbus. « Ce parcours exemplaire illustre la compétence et le rayonnement des talents calédoniens à l’échelle régionale, a indiqué Alcide Ponga. Son expérience constitue une source d’inspiration pour les jeunes de Nouvelle‑Calédonie, les encourageant à saisir les opportunités que leur offre leur espace océanien ».

Une coopération tournée vers l’avenir

Cette visite a permis de consolider la relation de confiance nouée entre les gouvernements de Nouvelle‑Calédonie et de Papouasie‑Nouvelle‑Guinée, en posant les bases d’une coopération durable, équilibrée et bénéfique pour les deux parties.

Elle confirme la volonté du gouvernement calédonien de construire, aux côtés de ses partenaires mélanésiens, un avenir partagé fondé sur la solidarité, l’ouverture et le développement mutuel au sein de la région Pacifique.

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Speech by SCED at plenary session of APEC Ministerial Meeting (1) (English only)

Source: Hong Kong Government special administrative region

Speech by SCED at plenary session of APEC Ministerial Meeting (1) (English only) 
     Thank you, Chair.
 
     On behalf of the Hong Kong, China (HKC) delegation, let me begin by expressing my heartfelt gratitude to Korea for the warm hospitality and for hosting us in this historic and beautiful city of Gyeongju.
 
     The rapid development of digital technologies, particularly artificial intelligence (AI), is fundamentally changing our societies at an unprecedented pace. To fully harness the benefits and smoothen the transformation process, HKC strongly supports deepening APEC’s digital co-operation to foster economic growth and address common challenges. To this end, I would like to offer three suggestions.
 
     First, we must provide an enabling environment for digital innovation to achieve sustainable and inclusive growth. This calls for strengthening infrastructure and adopting an application-oriented approach to promote deep integration of AI across the economy. HKC has been taking concrete actions. In terms of infrastructure, apart from the Cyberport’s AI Supercomputing Centre established last year, we will develop an additional high-performing data facility cluster to provide advanced computing power for innovation. To promote AI adoption, we are attempting regulatory innovations like the AI sandbox for financial institutions, accelerating the digital transformation of micro, small and medium-sized enterprises, and upgrading our trade architecture with AI. Our Government is also leading by example. As announced by our Chief Executive in his Policy Address last month, we are forming an AI Efficacy Enhancement Team to drive technological reform and modernise workflows across government agencies.
 
     Second, we must ensure that the benefits of digital advancement are shared across all sectors. With a people-centred approach, HKC is tackling key challenges such as digital divides and job displacements that are impeding an inclusive digital transition. Besides developing a strategic blueprint that will incorporate AI literacy into the core curriculum and enhance teacher training to ensure our next generation is future-ready, we are also reforming retraining programmes and strengthening re-employment support for our current workforce.
 
     Third, we should leverage APEC’s unique role as an incubator of ideas to advance digital co-operation. Over the past decade, APEC has made significant strides in its digital agenda, from the APEC Internet and Digital Economy Roadmap to the APEC AI Initiative this year. We particularly commend Korea’s leadership in mainstreaming AI across APEC’s agenda, effectively connecting it to both traditional and emerging issues such as trade, demographic changes as well as cultural and creative industries. HKC is pleased to endorse these efforts and will continue to actively contribute to APEC’s co-operation.
 
     In closing, HKC recognises AI as a key enabler to realise the APEC Putrajaya Vision 2040. We look forward to working together with fellow member economies to leverage digital co-operation and build a vibrant digital ecosystem across the Asia-Pacific region for the prosperity of our people and future generations. Thank you.
Issued at HKT 12:22

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