MIL Asia Pacific Publishing Engine

Source: Hong Kong Government special administrative region

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

The Hong Kong Monetary Authority (HKMA) announced today (April 28) the establishment of an Expert Panel on Project CargoX (the Expert Panel) to enhance the digital ecosystem for trade finance by harnessing the power of cargo data.

Riding on the HKMA’s Commercial Data Interchange (CDI) (Note), Project CargoX is a multi-year, public-private collaboration, focusing on three key areas:

• leveraging cargo data to streamline and enhance trade finance processes;
• developing digital solutions to improve accessibility to trade finance for small and medium-sized enterprises (SMEs); and
• exploring connections with international data partners to facilitate the trade financing use case for banks in Hong Kong.

To achieve these objectives, the HKMA has established an Expert Panel comprising industry experts and key stakeholders from cargo data providers, trade associations, banks, credit reference agencies and government agencies. The Expert Panel will formulate a roadmap for digitising cargo data (encompassing sea, road and air transportation data), and integrating relevant cargo data sources across jurisdictions with CDI, by the end of 2025. A list of the Expert Panel members can be found in the Annex.

With the guidance and recommendation from the Expert Panel, the HKMA will conduct proof-of-concept (PoC) studies and develop new solutions with strategic partners such as the Airport Authority Hong Kong (AAHK) and the Transport and Logistics Bureau (TLB) as well as pilot banks to improve digital trade finance through the use of cargo data and CDI in 2025 and 2026. 

     The Chief Executive of the HKMA, Mr Eddie Yue, said, “In today’s complex global trade landscape, many businesses, in particular SME traders, need more digitalised and efficient trade finance solutions to transform their business models and supply chains. By uniting a diverse group of experts from public and private sectors, the Expert Panel will play a pivotal role in driving the advancement of our digital trade finance ecosystem, reinforcing Hong Kong’s position as a premier trade finance hub and fostering the growth of SMEs. Leveraging cargo data and our next-generation CDI data infrastructure, CargoX will help resolve some long-standing pain points in trade finance for banks, ultimately boosting efficiency and driving industry-wide innovation.”

     The Commissioner for Maritime and Port Development of the TLB, Miss Amy Chan, said, “The Transport and Logistics Bureau is developing the Port Community System for completion by end of this year to provide cargo track-and-trace across sea, road, and air transport, which is expected to lead the maritime, port, logistics and trading industries to new heights of digitalisation. The Port Community System makes use of blockchain technology to record cargo flows, hence ensuring the integrity and reliability of cargo flow information. We look forward to working with the Expert Panel and strategic partners to unlock the enormous potential of the Port Community System in facilitating trade finance, supporting SMEs, and strengthening Hong Kong’s position as a global maritime hub.”

     Executive Director, Commercial of the AAHK, Ms Cissy Chan, said, “The AAHK is committed to driving innovation and digitalisation in the air cargo industry. Since launching the HKIA Cargo Data Platform in 2021, we have been working with a vast range of ecosystem partners in enabling efficient information and cargo flow via Hong Kong International Airport. The successful use case co-created with the HKMA’s CDI further synergises the capital flow and exemplifies the benefits on trade financing leveraging cargo data and cross-industry ecosystem collaboration. We welcome the HKMA’s effort to continue this momentum through CargoX initiative and look forward to working with like-minded organisations to continue contributing to the development of Hong Kong’s digital trade finance ecosystem.”

Note: Launched by the HKMA in October 2022, CDI is a consent-based financial data infrastructure that aims to enhance data sharing by facilitating financial institutions’ retrieval of enterprises’ commercial data, in particular the data of SMEs, from both public and private data providers.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

The Health Bureau (HHB) announced today (April 28) that the operation service contract for the Yau Tsim Mong (YTM) District Health Centre (DHC) has been awarded through open tender to the Lok Sin Tong Benevolent Society, Kowloon (operator), to upgrade the existing YTM DHC Express (DHCE) to a DHC. The DHC is expected to commence operation in the fourth quarter of this year with a contractual duration of three years.

The core centre of the YTM DHC will be located at 1047 Canton Road, Mong Kok (the former Mong Kok Market building), with a total floor area of about 1,000 square metres, representing an increase of about three times the size of the current YTM DHCE. The core centre will provide additional rehabilitation facilities and an audio-visual assessment room. Facilities for health education activities will also be optimised. According to the operation service contract, the operator is required to establish three satellite centres in the district within the first year of operation to enhance the service accessibility. The core centre and three satellite centres will be open six days a week with a minimum of 10 hours of service per day. The Primary Healthcare Commission (PHC Commission) will discuss with the operator and implement a transitional arrangement for upgrading the YTM DHCE to a DHC to ensure a smooth transition of services. 

The YTM DHC will continue to co-ordinate primary healthcare services within the district, serving as the case manager to support primary healthcare doctors while also acting as a resource hub for district healthcare services that connects various public and private service organisations in the community. The DHC will continue to assist citizens in pairing with family doctors, provide citizens with comprehensive advice on disease prevention through the Life Course Preventive Care Plan, promote the Chronic Disease Co-Care Pilot Scheme, and offer community rehabilitation services, dedicated nurse clinic and allied health services, and more.

The Chief Executive announced in the 2024 Policy Address the upgrading of more DHCEs to DHCs. With the Central and Western DHC and the YTM DHC expected to commence operation within this year, the total number of DHCs in Hong Kong will increase to nine. The PHC Commission will continue to implement the relevant upgrading plan to establish DHCs across all 18 districts at the earliest juncture, with a view to strengthening the prevention-oriented, district-based, and family-centric primary healthcare network.

Source: Hong Kong Information Services

The Government will introduce various measures to enhance facilities around the High Island Reservoir East Dam, adding to convenience for visitors during the Mainland’s Labour Day Golden Week.

The measures are in response to a significant increase in the number of visitors accessing the East Dam during recent weekends and the Ching Ming Festival holiday.

A large number of visitors on these days have taken taxis to the East Dam in the morning, causing severe traffic congestion on Sai Kung Man Yee Road and markedly increasing the travel time for Green Minibus (GMB) Route No. 9A, from Pak Tam Chung to the East Dam.

At present, GMB Route No. 9A on the Pak Tam Chung-East Dam route serves passengers on weekends and public holidays, with a frequency of 15-20 minutes. The service hours for departures from Pak Tam Chung are between 9.30am and 6.40pm, while those for departures from the East Dam are between 10am and 7pm.

As more visitors are expected in the East Dam area during the Golden Week holiday period, from May 1 to 5, various departments will enact enhancement measures.

Co-ordination between the Transport Department (TD) and the operator concerned will allow GMB Route No. 9A services to be boosted subject to passenger demand. Furthermore, the operator will, on a trial basis, extend the service to May 2, a weekday.

The TD and the Agriculture, Fisheries & Conservation Department (AFCD) will also take measures to enhance passenger queuing arrangements.

In the event of the road section concerned experiencing heavy traffic, the TD will make an announcement through various channels advising members of the public to plan ahead for their journeys.

It will also set up a messaging sign at a suitable location ahead of the AFCD’s Pak Tam Chung Barrier to inform visitors of traffic conditions on the roads leading to the East Dam area.

For its part, the Water Supplies Department has arranged for contractors to carry out temporary improvement works at some locations on Sai Kung Man Yee Road to facilitate the manoeuvring of traffic. The works have been substantially completed.

The AFCD will strengthen management of the country park area surrounding the East Dam. This includes deploying additional personnel to patrol the region, and the enhancement of cleaning services as necessary.

In collaboration with the Tourism Commission and the Tourism Board, the AFCD will also enhance promotion of other hiking trails within Hong Kong’s country parks and disseminate hiking guidelines to tourists.

Police will deploy uniformed officers to direct traffic in strategic areas at peak visitor arrival and departure times, and to help facilitate pedestrian flows. The force will also take action to combat any illegal acts by taxi drivers.

Source: Hong Kong Information Services

The inaugural Hong Kong Excellent Family Awards, co-organised by the Home & Youth Affairs Bureau and the Family Council, are open for entries from today until June 27. Families living in Hong Kong are welcome to join.

The awards aim to recognise families that cultivate a positive and supportive family relationship built on love and respect as well as care and support, and to pass on good family traditions and virtues.

There are 15 awards in this event, including 10 Excellent Families Awards and five Passage of Good Family Values & Virtues Awards. Winning families will receive trophies, theme park tickets, complimentary hotel accommodation, family photography services, and gift coupons.

Participating families are required to submit a written narrative in either Chinese or English, sharing their family’s real-life experience. They also need to include up to five family photos in an entry.

The narrative should demonstrate strong family bonds, the family’s ability to cope with challenges in life together, and the passing on of good family traditions and virtues.

Participants can submit entries online. Alternatively, they can download the entry form from the thematic webpage and pass the completed form along with the narrative and photos to the Home & Youth Affairs Bureau Family Council Secretariat, 13/F West Wing, Central Government Offices, 2 Tim Mei Avenue, Tamar, Hong Kong, by post or in person.

Shortlisted families will be invited to attend a meeting in early August.

Source: Hong Kong Information Services

Hong Kong’s Comprehensive Avoidance of Double Taxation Agreement (CDTA) with Bahrain signed in March 2024 has come into force and will be applicable to Hong Kong tax for any year of assessment beginning April 1, 2026.

Under the agreement, companies and residents of both places will not have to pay tax twice on a single source of income.

The agreement will also allow them to have certainty on tax liabilities and save tax when they engage in cross-border business activities, thereby helping to promote bilateral trade and investment.

Hong Kong has signed CDTAs with 51 tax jurisdictions so far.

Source: Hong Kong Information Services

The Bun Scrambling Final, the finale to the 2025 Bun Carnival, will be held on May 5 at the Pak Tai Temple Playground soccer pitch on Cheung Chau.

Following an opening ceremony at 11.30pm, the competition will start at midnight according to tradition.

Trophies will be awarded to the champion, first runner-up and second runner-up in the men’s division and the champion in the women’s division. The Full Pockets of Lucky Buns award will again be presented to the participant who gathers the most buns.

Four spectator zones will bet up at the soccer pitch to accommodate around 1,650 people. Admission is expected to start from 10.30pm.

From 10pm on May 5, free tickets will be available at Pak She First Lane, next to Cheung Chau Fire Station as well as along Ping Chong Road. Each person can obtain one ticket on a first come, first served basis while tickets last.

Special transport arrangements will be made to cater to spectators leaving Cheung Chau after the event.

Source: Hong Kong Information Services

The Electrical & Mechanical Services Department is looking into a fault on an engineering train that caused disruption to services on the MTR’s East Rail Line yesterday.

The train, used for inspecting overhead cables, malfunctioned near Fo Tan Station yesterday morning. Train services on the East Rail Line remained operational, but travel times were extended by 10 to 15 minutes.

Upon receiving notification from the MTR Corporation (MTRC), the department immediately sent staff to the site to assess the situation and launch an investigation.

Preliminary findings indicate that the incident was caused by a fault on the engineering train that prevented a lifting platform from descending. As the platform was close to the overhead cables, precautionary measures were taken before the train could be moved away.

The department said it is now conducting an investigation into the engineering train’s design, maintenance and operational procedures. It has also requested that the MTRC conduct a comprehensive review of the incident, submit a report to explain its cause, and make proposals for improvement measures to prevent recurrence.

A similar engineering train broke down near Tai Wo Station on the East Rail Line, also causing service disruptions, on February 5.

Expressing grave concern over the occurrence of two such incidents affecting services within three months, the department said it will initiate a special audit to holistically review the MTRC’s emergency preparedness in relation to engineering trains.