MIL Asia Pacific Publishing Engine

Source: Hong Kong Government special administrative region – 4

​Hong Kong Customs on June 19, yesterday (June 22) and today (June 23) seized a total of about 100 kilograms of suspected ketamine and 3.5kg of suspected etomidate with an estimated market value of about $46 million. Two people were arrested.
 
Through risk assessment, Customs on June 19 inspected an air cargo consignment from the Netherlands, declared as water-based primer paint, arriving at Hong Kong International Airport. Upon inspection, Customs officers detected suspicious X-ray images on the consignment and found a total of about 100kg of suspected ketamine concealed in a batch of paint cans. 
 
After an in-depth investigation, Customs officers conducted a controlled delivery operation yesterday and arrested a 63-year-old man and a 28-year-old man in Kwun Tong. Subsequently, Customs officers searched an industrial building unit in Kwun Tong, and found therein a batch of equipment for dismantling consignments. 
 
Upon a follow-up investigation, Customs officers today further seized a Malaysia-bound parcel, suspected to be connected with this case, in an express centre in Yuen Long and found therein 3.5kg of suspected etomidate. 
 
     An investigation of the case is ongoing. The possibility of further arrests is not ruled out. 
 
Customs will continue to enhance enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary returns. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong.
 
Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
 
Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Source: Hong Kong Government special administrative region – 4

Following is the keynote speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Hong Kong-Australia Business Association (HKABA) National Business Awards Gala Dinner in Melbourne, Australia, today (June 23, Melbourne time):

Distinguished guests, ladies and gentlemen,

     Good evening. It is a great pleasure to join you at the 2026 Hong Kong-Australia Business Association National Business Awards Gala Dinner.

     Tonight, we recognise not only commercial excellence, but also the spirit of innovation and partnership that defines both Hong Kong and Australia. These values also underpin Hong Kong’s innovation and technology (I&T) development. Allow me to share the three pillars that guide us through this journey: Aspiration, Access and Assurance.

     Aspiration is where every success story begins. Every company recognised tonight started with a bold idea and the determination to pursue it. This same aspiration is driving Hong Kong to transformation into an international I&T centre. 

     Guided by the Hong Kong I&T Development Blueprint promulgated in December 2022, we are enhancing our I&T ecosystem, from basic research and technology transfer to industrial application, by a series of targeted, forward-looking initiatives. A new I&T development framework anchored by three major I&T parks and five R&D (research and development) institutions has taken shape. We are adopting an industry-oriented approach to promote the development of I&T industries with an edge and of strategic importance to Hong Kong.

     Hong Kong’s research strength is exceptional. Backed by five of the world’s top 100 universities, we are building a global R&D powerhouse through InnoHK, our flagship R&D initiative. Today, the InnoHK platform hosts 38 laboratories in partnership with top-notch universities and research institutes from 12 economies, including the University of Melbourne, bringing together over 3 000 international researchers. Their work spans life and health sciences, AI and robotics, as well as advanced manufacturing and materials. They are strategic technologies that will not only become core industries of Hong Kong but also define the next wave of global growth. We look forward to deepening collaboration with Australia, particularly in areas where Australia excels, such as quantum computing, aerospace, and renewable energy.

     If aspiration is the spark, Access is what turns ambition into achievement. Access to capital, talent, supply chains and markets determines the ability to scale and succeed. 

     Hong Kong has always been a place where opportunities converge. We offer access to global finance, international talent, and world-class research. Through our proximity, Hong Kong provides researchers and enterprises vast opportunities to tap into the Greater Bay Area, a dynamic economic region with a population exceeding 88 million and a GDP exceeding US$2.2 trillion, approximately AUD3.1 trillion. The powerful synergy of the region’s research excellence, industrial depth and global reach is fully recognised by WIPO (World Intellectual Property Organization), which ranks the Shenzhen-Hong Kong-Guangzhou innovation cluster first globally in 2025.

     In northern Hong Kong, we are building two flagship innovation hubs: the Hetao Hong Kong Park (Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone) and the San Tin Technopole. Hetao leverages Hong Kong’s unique advantages under “one country, two systems” and Shenzhen’s world-leading manufacturing ecosystem, while the San Tin Technopole integrates R&D, prototyping and production in one seamless corridor. Together, they form a complete research-to-market chain as well as a market unmatched in the region. 

     Nearby, the Sandy Ridge Data Facility Cluster, now under construction, will become a major advanced data infrastructure.   Together with the existing AI Supercomputing Centre, Sandy Ridge will provide 180 000 PFLOPS (peta-floating point operations per second) of computing power by 2032, 36 times Hong Kong’s current capacity. This new cluster will play a vital role in facilitating cross-boundary data flow and strengthening Hong Kong’s position as an international data hub.

     Strategically located on the southern coast of China, Hong Kong’s premium location allows international partners to reach half of the world’s population and major Chinese and Asian cities via a five-hour flight. For Australian companies, Hong Kong is not just a gateway. It is the most efficient and trusted platform to enter Asia’s fastest-growing innovation, consumer and industrial markets. At the same time, we are the ideal window for enterprises from the Chinese Mainland to go global.

     The third pillar, Assurance, is what allows businesses to innovate boldly and invest with confidence. It is essential for companies expanding across borders, and they are central to the success of the businesses we honour tonight.

     Hong Kong provides this assurance. Our fundamentals remain strong: the rule of law, free flow of capital, world-class professional services and a simple, low-tax regime. Just a few days ago, Hong Kong ranked second globally in the latest World Competitiveness Yearbook 2026, which is a recognition of the city’s efficiency, openness and global connectivity. It also explains why Hong Kong is home to 5 200 start-ups, where we offer a stable foundation for innovation and long-term growth. 

     To catalyse market investment in Hong Kong’s emerging sectors, we will soon launch a HK$10 billion Innovation and Technology Industry-Oriented Fund, equivalent to AUD1.8 billion. By co-investing with market players, this fund-of-funds acts as “patient capital” to channel more social capital to invest in I&T industries and support the development of emerging and future industries of strategic importance.

     Hong Kong also provides strong assurance through a capital market that actively supports innovation. Our Chapter 18C listing regime allows high-potential tech companies in specific fields such as AI, advanced hardware and semiconductors to list before reaching conventional revenue milestones – of course at the same time maintaining robust investor safeguards. Since its launch in 2023, 14 emerging-tech firms have listed under this pathway, demonstrating Hong Kong’s commitment to making innovation investible and reinforcing its role as a trusted global hub for tech enterprises.

     Ladies and gentlemen, Aspiration, Access and Assurance are the shared values that explain why Hong Kong and Australia remain natural partners in trade, investment and innovation. This is the moment for Australian businesses to deepen your presence, expand your partnerships, and co-create the next chapter of innovation with Hong Kong. We welcome your ideas, talent and investment.

     Finally, my warmest congratulations to all the award winners. Your achievements reflect the strength of Hong Kong-Australia collaboration and the shared aspiration to build a more innovative, more connected and more prosperous future. I look forward to welcoming you to Hong Kong soon. My thanks also go to the HKABA for having me tonight. I wish you all an enjoyable evening. Thank you.

Source: Hong Kong Government special administrative region – 4

The following is issued on behalf of the Legislative Council Secretariat:

     The Legislative Council Subcommittee on Matters Relating to Railways visited the Capital Works Innovation Hub of the MTR Corporation Limited (MTRCL) in Fo Tan today (June 23) to learn about the progress of the MTRCL’s application of innovative technologies, such as artificial intelligence, in new railway projects.

     Members first received a briefing from MTRCL representatives on the purpose and design features of the Capital Works Innovation Hub. The Capital Works Innovation Hub showcases applications of various digital technologies and techniques. Members noted that these technologies are being applied to six new railway projects underway to enhance construction quality and efficiency.

     Members then observed demonstrations of various innovative technologies and techniques. These included the Smart Site Management Platform and quadruped robotics, which allows supervisory staff to monitor construction progress and site safety remotely in real time. They also viewed how the deployment of virtual reality, augmented reality, immersive projection reality and building information modelling technologies enables engineering personnel to visualise station designs and track project progress more efficiently, so as to ensure that the railway projects are completed as scheduled.

     During the visit, Members exchanged views with representatives of the MTRCL on facilitating smart railway to enhance the efficiency and quality of projects and passenger experience. Members took the opportunity to urge the MTRCL to leverage innovative technologies and exercise prudent project financial management to further reduce costs and enhance efficiency in new railway projects.

     A total of 13 members and non-members of the Subcommittee on Matters Relating to Railways participated in the visit.

Source: Hong Kong Government special administrative region – 4

The Environment and Ecology Bureau and the Electrical and Mechanical Services Department (EMSD) held the Launching Ceremony for Energy Saving Charter 2026 and 4T Charter today (June 23) to encourage the community to save energy, reduce carbon emissions and build a green future together.  

Speaking at the launching ceremony, the Under Secretary for the Environment and Ecology, Miss Diane Wong, said that this year marks the first year of the National 15th Five-Year Plan. The National 15th Five-Year Plan Outline explicitly calls for accelerating the green transformation of economic and social development and building a Beautiful China. The Government of the Hong Kong Special Administrative Region will proactively align with the nation’s green development and continue to advance and deepen environmental protection and ecological efforts. Miss Wong expressed the hope that all sectors of society will work together with the Government to mitigate climate change, striving to achieve carbon neutrality in Hong Kong before 2050.

Miss Wong also said that the amended Buildings Energy Efficiency Ordinance will be fully implemented this September, which extends the scope of energy efficiency regulation to more types of buildings, shortens the energy audit intervals, and mandates the disclosure of technical information in energy audit reports. The amendments are expected to save an additional 500 million kilowatt-hours of electricity per year by 2035, equivalent to the annual electricity consumption of about 150 000 three-person households.

This year, over 3 500 premises have signed up to the Energy Saving Charter 2026. They pledged to maintain the average indoor temperature at their premises between 24 and 26 degrees Celsius during the summer months from June to September, switch off appliances when not in use, procure energy-efficient appliances and systems, promote the use of renewable energy, share energy saving measures and achievements with staff and students, and engage them to adopt energy-saving measures together. In addition, over 870 premises have joined the 4T Charter, which aims to enhance energy saving by setting an energy-saving target with an action timeline, enhancing data transparency and encouraging stakeholders to work together. The EMSD will also arrange seminars for the trades regularly to promote the practice of energy saving and reducing carbon emissions.

At the ceremony, the Deputy Director of Electrical and Mechanical Services (Regulatory Services), Mr Arthur Lee; former Chairman of the Energy Advisory Committee Mr Edmund Leung; and former Legislative Council Member Dr Lo Wai-kwok presented awards to winners of the Energy Saving Competition for Students 2025. The competition aims to promote energy saving among schools, as well as raise public awareness of environmental protection. This year’s competition received an encouraging response with over 440 entries. 

Details of the Energy Saving Charter 2026, 4T Charter and Energy Saving Competition for Students 2025, along with the winners’ energy saving initiatives, were uploaded to the Energy Saving for All website (www.energysaving.gov.hk).

Source: Hong Kong Information Services

Chief Executive John Lee today continued a trip to Fujian by visiting Wuyi University and a cultural tourism site, and meeting various leaders in Nanping City.

In the morning, in Nanping City, he met Vice Governor of Fujian Province Zhao Zenglian, and CPC Nanping Municipal Committee Secretary Yuan Chaohong, to exchange views on issues of mutual concern.

Mr Lee then visited Wuyi University in Wuyishan, where he met interns and Hong Kong students participating in the “Youth Internship Programme at Wuyishan on Biodiversity Conservation”, to learn about their experiences on the programme.

Wuyi University adopts a regional industry-oriented approach in providing courses focused on innovation and entrepreneurship. The internship programme is a youth co-operation project arising from the Third Plenary Session of the Hong Kong/Fujian Co-operation Conference in 2018. So far, 48 Hong Kong youngsters have benefited.

Mr Lee said that the Hong Kong Special Administrative Region Government has always attached great importance to youth development. He called on young people to take up more internships on the Mainland, and to serve as pillars of talent contributing to the country’s high-quality development.

In the afternoon, the Chief Executive visited a museum to learn about Wuyi rock tea, its history and heritage, and the part it plays in Wuyi’s cultural tourism.

He remarked that Hong Kong is advancing the integrated development of culture and tourism and that he looked forward to Hong Kong and Fujian deepening co-operation in this area.

In the evening, at an event in Fuzhou organised by the Hong Kong Chamber of Commerce, Fujian, Mr Lee met Fujian-based Hong Kong business representatives.

He remarked that Fujian is a core area of the 21st Century Maritime Silk Road under the Belt & Road Initiative, while Hong Kong serves as a functional platform for the Belt & Road, adding that there is vast scope for co-operation between the two places.

He called on Hong Kong entrepreneurs to continue building bridges between the two places and jointly contribute to the country’s high-level opening up.

Source: Hong Kong Information Services

Financial Secretary today Paul Chan began a visit to Dalian by attending various events at the World Economic Forum’s “Annual Meeting of the New Champions 2026”, also known as the Summer Davos forum.

These events included the High-Level Dialogue on China Megacities, where he held discussions with leaders of Mainland cities, business representatives and international business leaders, on the role of China’s megacities and regions in the country’s new round of high-level opening up, and how to promote cross-border co-operation and the collaborative development of industrial chains.

In a speech, Mr Chan stated that competition among cities in the future will revolve around innovation and technology (I&T), requiring them to strengthen collaborative development and complementary advantages through city clusters.

He said that Hong Kong, building on its status as an international financial and trade centre, is promoting I&T as one of the main engines of its economic development. This includes accelerating the development of the Northern Metropolis, strengthening collaboration with other cities in the Guangdong-Hong Kong-Macao Greater Bay Area, and combining scientific research outcomes and advanced manufacturing to promote the deep integration of technological and industrial innovation.

He also highlighted that Hong Kong is committed to attracting high-end talent, and that since the enhancement of talent admission schemes at the end of 2022, around 300,000 people have come to Hong Kong to develop their careers, injecting significant momentum into the city’s development.

In the morning, Mr Chan met World Economic Forum President and Chief Executive Officer Alois Zwinggi. He also held meetings with Beijing Vice Mayor Sun Shuo and Shanghai Vice Mayor Lu Shan to discuss strengthening exchanges and co-operation between Hong Kong and those two Mainland cities.

Additionally, Mr Chan attended an “Informal Gathering of World Economic Leaders” lunch.

In the afternoon, Mr Chan led members of the Hong Kong delegation to visit the Dalian High-Tech Industrial Zone and held a roundtable meeting with representatives of I&T enterprises from both places.

He highlighted that Dalian and Hong Kong are highly aligned and mutually complementary in their innovation and technology development paths. He said that Hong Kong is not only a “super connector” and “super value-adder” but can also act as an “adapter” for Mainland enterprises entering the international market, helping them to align with international best standards.

Mr Chan stressed that he hopes the two places will strengthen co-operation and establish exchange mechanisms to jointly seize opportunities brought by the new round of innovation and technology development.

The Financial Secretary and the delegation attended a dinner hosted by Standing Committee member and Head of the United Front Work Department of the CPC Dalian Municipal Committee Xu Guangxiang.

Source: Hong Kong Government special administrative region

Following is the speech by the Permanent Secretary for Innovation, Technology and Industry, Mr Kevin Choi, at Greenway 2026 – Driving Sustainability Through Innovation today (June 23):

Your Excellency Ambassador Harvey Rouse (Ambassador and Head of Office of the European Union to Hong Kong), Mr Johannes Hack (Chair of the German Chamber of Commerce), distinguished guests, ladies and gentlemen,

Good afternoon. It is an honour to join you today at this prestigious forum, a platform dedicated to exploring the profound synergy between innovation and technology (I&T) and our collective journey toward carbon neutrality. To our friends and partners from abroad, I extend the warmest and most sincere welcome to Hong Kong. Your presence here underscores a shared global truth: the challenge of climate change has no borders.

When we talk about decarbonisation, it is easy to relate the discussion to the realm of environmental policy or regulatory compliance. In fact, true sustainability requires us to look much deeper. Decarbonisation, at its core, involves a fundamental I&T transformation. It demands that we reinvent how we live our lives.

Hong Kong is uniquely positioned to lead this charge, driven by the strategic blueprint of the National 15th Five-Year Plan. Our country is unlocking new quality productive forces and advancing future industries, with green technology standing out as a core pillar of growth. To spearhead this vision, our country, through the 15th Five-Year Plan, reaffirms unwavering support for Hong Kong’s development into an international I&T centre. In doing so, it positions our city not just as a regional participant, but as a critical launch pad for the sustainable technologies of tomorrow.

Our ability to fulfil this role hinges on a solid foundation. Under the unique “one country, two systems” principle, Hong Kong stands as the only city in the world that seamlessly integrates the China advantage with a distinct global advantage. We serve as the “super connector” between the Chinese Mainland’s massive, unparalleled green production ecosystem and the international green technology community. This identity makes Hong Kong the ideal global hub for fostering cross-border innovation and collaboration in the green technology sector.

We are determined and exceptionally well-positioned to carve out a unique niche in green I&T transformation. Our competitive edge begins with talent. Hong Kong is the only city in the world having five universities consistently ranked among the world’s top 100. This dense concentration of academic excellence has cultivated an open, vibrant, and world-class research ecosystem. The HKSAR (Hong Kong Special Administrative Region) Government remains steadfast in its commitment to supporting our scientists and researchers as they develop and deploy breakthrough green technologies. By leveraging our core strengths in upstream research and development, we are actively solving the pressing, real-world challenges of climate change and urban sustainability.

To ensure our brilliant minds have the resources they need, the Government provides comprehensive and structured support. Our Innovation and Technology Fund consistently backs impactful research projects, creating a resilient pipeline that moves discoveries from university labs to the commercial market. To date, the Fund has supported over 160 research and development (R&D) projects on green technology by providing over 53 million euros to drive these initiatives forward.

Furthermore, we recognise that the bridge between academic discovery and commercial viability requires intensive support. We have channeled substantial resources into our academic community, including the Research, Academic, and Industry Sectors One-plus Scheme (the RAISe+ Scheme) launched in 2023. With a total of HK$10 billion or over 1 billion euros, the RAISe+ Scheme is specifically designed to help university teams realise and commercialise their R&D outcomes. This structured financial backing supported pioneering work led by our local institutions, which are tackling sustainability issues head-on.

For example, researchers at the City University of Hong Kong have achieved a major breakthrough by developing next-generation passive radiative cooling technologies. This zero-carbon cooling innovation, actively supported under the aforementioned RAISe+ Scheme, mitigates harsh urban heat island effects and drastically reduces building energy consumption. These achievements underscore the Government’s strategic commitment to leveraging cutting-edge R&D as the primary engine to mitigate urban greenhouse gas emissions.

Building on our R&D momentum, our capabilities move beyond traditional services to fostering high-tech, low-carbon manufacturing. Our New Industrialisation Acceleration Scheme, launched in 2024, provides robust funding support of up to HK$200 million or 22 million euros for strategic enterprises. This targeted financial empowerment allows industries in advanced manufacturing and new energy technologies to set up pilot production lines right here in Hong Kong.

For instance, Contemporary Amperex Technology (CATL) and Hithium, which both specialise in energy storage batteries and systems, have respectively established an international R&D centre and been building a smart production line for high-safety and high-capacity energy storage batteries in Hong Kong. These collaborations prove that Hong Kong provides the perfect, high-standard testing ground for international firms to develop, validate, and manufacture cutting-edge climate technologies.

Beyond our industrial and manufacturing capabilities, we are proud of our thriving I&T parks that nurture the next generation of green entrepreneurs. The Hong Kong Science Park provides comprehensive and unwavering support to start-ups, including those engaged in green technology. Through dynamic incubation programmes, the Science Park empowers emerging enterprises with the essential tools they need to scale. We provide not just technical support, but also business guidance and financial assistance. These targeted programmes have helped numerous start-ups realise their ambitions, transforming raw R&D outcomes into viable, commercialised products.

A cornerstone of this commitment is the GreenTech Hub, established in 2025. Today, this hub houses nearly 200 green enterprises and 1 600 professionals from around the world. We know that technology is only as good as the people who create it, and the GreenTech Hub serves as a vibrant nexus for deep professional exchange. Within the past year alone, the hub has hosted over 360 business-matching sessions and 100 green-themed events. This thriving network connects start-ups and established firms with critical mentorship, corporate collaboration, and a global network of financiers, establishing a premier platform to test and scale cutting-edge climate technologies.

To date, our three I&T parks, namely the Science Park, the Hong Kong-Shenzhen Innovation and Technology Park in the Loop or Hetao area, and Cyberport, altogether have already housed over 300 green start-ups specialising in energy-efficient materials, carbon capture, electric vehicle infrastructure, and much more. In particular, the Hong Kong-Shenzhen Innovation and Technology Park (HSITPL), which I also serve as its Chairman, is our flagship cross-boundary innovation engine. Under its “one-zone, two-park” framework, the park is designed to enable the seamless “four flows”, namely people, capital, goods (including bio-samples), and data, between Hong Kong and the Chinese Mainland. This means green enterprises can move talent freely, access cross-border funding, transport specialised R&D equipment without customs bottlenecks, and exchange critical environmental and AI datasets in a secure, compliant manner. By unblocking these four essential arteries, HSITPL transforms the Hetao area into a true innovation corridor, where Hong Kong’s global connectivity and Shenzhen’s vast application scenarios converge to accelerate climate-tech solutions from concept to commercial reality.

Ladies and gentlemen, Hong Kong may be small in landmass, but our technology and environmental ambitions are vast. With robust government backing, world-class talent, and deep synergy, we are not just witnessing the global green transition, we are actively helping engineer its future.

This future relies heavily on international collaboration, and we recognise European enterprises as vital, leading partners in this journey. I invite all of you to partner with us, leverage our thriving ecosystem, and work alongside us to transform visionary green research into impactful market realities. I wish this forum every success, and I hope you all enjoy a highly rewarding, productive, and transformative exchange of ideas.

Thank you very much.

Source: Hong Kong Government special administrative region

Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at Greenway 2026 – Driving Sustainability Through Innovation today (June 23):

Harvey (Ambassador and Head of Office of the European Union to Hong Kong and Macao, Mr Harvey Rouse), Johannes (Chair of the European Chamber of Commerce in Hong Kong, Mr Johannes Hack), ladies and gentlemen,

Good afternoon. It is my great pleasure to join you all today for the fifth edition of The Green Way.

The Green Way is more than a theme; it is a shared journey. It is our commitment to leave behind a legacy of clean skies, verdant landscapes, and sustainable opportunity for generations to come. It is also a statement of hope – that our world can thrive without compromise, fuelled by green innovation, collaboration, and purpose.

Here in Hong Kong, we stand ready to lead the charge for a greener future. We have set the target of a 50 per cent reduction in carbon emissions before 2035 and carbon neutrality before 2050. The Chief Executive’s 2025 Policy Address also underscored sustainability as a cornerstone of Hong Kong’s future development. These are ambitious goals, and finance is the engine that powers this transformation.

Last month, I was in Central Asia attending the Asian Development Bank’s Annual Meeting in Uzbekistan. During the meeting, member economies discussed not only how to reshape global value chains amid a complex and rapidly changing landscape, but also – and this was a recurring theme – how to use finance to support green and sustainable development. This includes funding renewable energy infrastructure and channelling long-term capital into transition projects. Many nations are facing the dual challenge of economic transformation and climate resilience. Hong Kong’s answer lies in being the “super connector” and “super value-adder” – channelling global capital to where it is needed most for green projects.

Hong Kong is now the world’s largest cross-border wealth management centre. We are also the global largest offshore Renminbi (RMB) business hub. This unique combination means we do not just talk about mobilising capital; we have the institutional infrastructure and deep liquidity pools – both in RMB and other major currencies – to direct significant funds towards credible green and transition projects across Asia and beyond.

The statistics speak volumes. Hong Kong has been the top arranger of green and sustainable bonds in Asia for eight consecutive years since 2018.

Last year alone, the total volume of green and sustainable debt issued or arranged in Hong Kong exceeded US$76 billion. Of this, bonds arranged in Hong Kong amounted to approximately US$38 billion, accounting for 40 per cent of the regional total. Just last month, the Ministry of Finance issued its first-ever RMB green sovereign bonds in Hong Kong – a strong vote of confidence in our platform.

We are not just doing traditional bonds. Innovation is key. Since 2019, we have issued approximately HK$258 billion equivalent of government green bonds. In November 2025, Hong Kong issued the world’s first digital green bonds that integrated tokenised central bank money – settling in both e-CNY and e-HKD. This is a practical application of fintech to enhance transparency and efficiency in green capital markets.

A robust market also requires trust. To combat greenwashing and guide capital efficiently, we need high-quality, comparable data.

Hong Kong has set the target to fully adopt the sustainability disclosure standards of the International Financial Reporting Standards (ISSB Standards). The International Financial Reporting Standards Foundation has confirmed Hong Kong as one of the first jurisdictions targeting full adoption of the ISSB Standards.

Our Roadmap on Sustainability Disclosure, published in late 2024, provides a clear pathway for large publicly accountable entities to fully adopt the ISSB Standards no later than 2028. This ensures that when you invest in Hong Kong, you are investing with confidence in reliable, decision-useful information.

We are also building a robust classification framework for defining environmentally sustainable activities to drive capital flows towards credible projects. In January this year, we published Phase 2A of the Hong Kong Taxonomy for Sustainable Finance after extensive consultation. The coverage is expanded from four sectors (energy, transportation, construction and waste) to six sectors with the addition of two new sectors – manufacturing and ICT (information and communications technology). Apart from climate change mitigation, Phase 2 of the Taxonomy has a new environmental objective: climate change adaptation, so that we cater not only for activities to reduce the cause of climate change but also in the meantime, measures to minimise its impacts.

On carbon markets, Hong Kong has built the infrastructure. Our Core Climate platform is an international carbon marketplace that connects capital with verified climate projects. It offers quality voluntary carbon credits from over 60 projects verified by Verra and Gold Standard, with more than 130 registered participants. We are working closely with carbon exchanges in the Greater Bay Area to test cross-boundary carbon trade settlement. We see Core Climate as a key node for linking global demand – including from the European Union of course – with verified carbon credit projects across Asia and beyond.

The HKSAR (Hong Kong Special Administrative Region) Government will continue to work closely with the industry and all stakeholders to develop Hong Kong as a leading green and sustainable finance hub. We will keep building on our strengths – from our world-class green bond market and internationally aligned taxonomy, to our Core Climate platform.

We very much look forward to continued collaboration with the European Union – on transition finance, carbon markets, and channelling affordable climate finance where it is needed most. Thank you.

Source: Hong Kong Government special administrative region

Following is the keynote speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Australia-China Innovation Summit organised by the Australia China Business Council in Melbourne, Australia, today (June 23, Melbourne time):

Distinguished guests, ladies and gentlemen,

Good afternoon. It is a pleasure to join you all today at the Australia-China Innovation Summit. My sincere thanks to the Australia China Business Council for bringing us together and for giving me this opportunity to share Hong Kong’s latest innovation and technology (I&T) landscape and the promising opportunities for deeper Hong Kong-Australia collaboration.

Hong Kong and Australia have long been connected through trade, investment and vibrant people-to-people ties. These links were further strengthened when the Free Trade Agreement and Investment Agreement entered into force in 2020, opening new channels for business, enhancing market access, and reinforcing our shared commitment to open, rule-based economic co-operation.

Today, a new chapter of collaboration is unfolding. Supported by the National 15th Five-Year Plan, Hong Kong is moving full steam toward its vision of becoming an international I&T centre and a global hub for high-calibre talent.

Promoting I&T development ranks high on the agenda of the current term of the HKSAR (Hong Kong Special Administrative Region) Government. Our goal is clear: to inject new impetus into economic growth, develop a diversified economy, and create high-quality jobs. In 2022, we promulgated the I&T Development Blueprint, setting out clear directions and strategies for Hong Kong’s future I&T development. We adopt a clear industry policy, with priorities in several areas including life and health technology, AI and robotics, advanced manufacturing and new energy technology.

Hong Kong’s I&T strength begins with talent. We are home to five universities ranked among the world’s top 100, including two medical schools in the global top 40, and three universities ranked among the world’s top 30 in data science and AI. This academic strength provides a solid R&D (research and development) foundation to transform research breakthroughs into real-world applications.

Our flagship R&D initiative, InnoHK, exemplifies this ambition. It has built collaboration with more than 30 world-renowned universities and research institutes from 12 economies, brought over 3 000 international researchers, and set up a total of 38 laboratories. We are proud that two leading Australian institutions – the University of Melbourne and the University of Queensland – are in collaboration with one of our InnoHK R&D centres named the Microbiota I-Center, which focuses on advancing microbiome science for personalised healthcare. We look forward to more collaboration with Australia to conduct world-class and impactful collaborative research.

The HKSAR Government is also committed to promoting I&T development through strategic investments. Three HK$10 billion initiatives are introduced to drive research translation and tech industry growth. The Research, Academic and Industry Sectors One-plus Scheme, launched in 2023, accelerates the commercialisation of outstanding university research and has already supported 73 projects. The New Industrialisation Acceleration Scheme, launched in 2024, supports strategic industries in establishing smart production facilities in Hong Kong. This year, we will launch the Innovation and Technology Industry-Oriented Fund to further channel market capital into emerging and future industries of strategic importance.

We are also investing HK$3 billion, around AUD550 million, in the Frontier Technology Research Support Scheme, enabling local universities to recruit international top-notch researchers or scientists in frontier fields. To support start-ups, we launched the Pilot I&T Accelerator Scheme earlier this year to attract professional I&T accelerators from around the world to set up bases in Hong Kong. Together, these initiatives provide robust and tangible support across all stages of innovation – from talent attraction and basic research to start-up development and industry scaling.

Infrastructure is equally critical. The Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone is a powerful example. Located at the boundary between Hong Kong and Shenzhen, it enables the seamless flow of talent, capital, data and essential materials such as biological samples. Since its opening last December, more than 90 tenants from pillar industries such as life and health technology, microelectronics, new energy and AI have already established a presence there, signalling strong confidence in Hong Kong as a place where business can grow.

Hong Kong’s northern region is rapidly emerging as a powerful engine for future I&T development. The Hetao Hong Kong Park and the adjoining San Tin Technopole will form a complete pipeline from research to prototyping, pilot production and full-scale manufacturing. By 2032, the Sandy Ridge Data Facility Cluster will provide 180 000 PFLOPS of computing power – 36 times Hong Kong’s current capacity – creating a major cross-boundary data hub that strengthens Hong Kong’s AI development and high-performance computing. With the pilot lines in the Hong Kong Microelectronics Research and Development Institute coming into operation later this year, Hong Kong is building a comprehensive I&T corridor in the North, integrating research, computing power, prototyping, testing and manufacturing into a unified ecosystem.

This new cluster will stand among Asia’s most dynamic I&T ecosystems, connecting Hong Kong’s research excellence and institutional advantages with the vast application scenarios and market opportunities of the Chinese Mainland – especially the Greater Bay Area, home to 88 million people and a GDP exceeding AUD3.1 trillion.

Hong Kong ranks second globally overall in the latest IMD (International Institute for Management Development) World Competitiveness Ranking and fourth in digital competitiveness, reflecting a mature ecosystem where talent, capital, and policies align. Our start-up scene has surged to 5 200 companies, a growth of 40 per cent since 2021. A quarter of founders are from overseas, which is a clear sign that international entrepreneurs see Hong Kong as a place where they can scale fast, plug into global markets, and operate with confidence. Coupled with Hong Kong’s bilingual business culture, simple low-tax system, professional services and world-class infrastructure, all of these make Hong Kong a natural fit for Australian innovators looking for transparent, high-trust environments.

Ladies and gentlemen, Hong Kong and Australia share a long history of partnership and friendship. As the global economy undergoes profound transformation driven by technology, our two economies are exceptionally well placed to co-create solutions that are trusted, scalable and globally competitive. Whether in life and health sciences, AI, advanced manufacturing, or green technology, the opportunities before us are abundant and growing.

I warmly invite Australian businesses, researchers and innovators to deepen your engagement with Hong Kong – to explore our I&T ecosystem, to partner with our universities and research institutes, and to seize the opportunities emerging across the Greater Bay Area. Hong Kong stands ready to act as a “super-connector” and “super value-adder” for businesses seeking international growth.

May I wish the summit a great success. Thank you very much.

Source: Hong Kong Government special administrative region – 4

     ​Hong Kong Customs on June 12 seized large batches of suspected smuggled goods, with an estimated market value of about $16 million, at the Tuen Mun River Trade Terminal Customs Cargo Examination Compound.
 
     Through risk assessment, Customs on that day inspected a 40-foot container, declared as carrying holiday decorations, arriving in Hong Kong from the Mainland. After inspection, Customs officers found large batches of suspected smuggled goods, including 82 000 alternative smoking products, small electrical appliances, toys, plastic parts and metal accessories.
 
     An investigation is ongoing. The likelihood of arrests is not ruled out.
 
     Being a government department primarily responsible for tackling smuggling activities, Customs has long been combating various smuggling activities at the forefront. Customs will keep up its enforcement action and continue to fiercely combat smuggling activities through proactive risk management and intelligence-based enforcement strategies, and carry out targeted anti-smuggling operations at suitable times to disrupt relevant crimes.
 
     Smuggling is a serious offence. Under the Import and Export Ordinance, any person found guilty of importing or exporting unmanifested cargo is liable to a maximum fine of $2 million and imprisonment for seven years. Any person who imports alternative smoking products into Hong Kong also commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.
 
     Members of the public may report any suspected smuggling activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).