Author Archives: hksar gov

Invest Hong Kong fosters mutual engagement through successful delegations to Gulf Cooperation Council region (with photos)

     ​Invest Hong Kong (InvestHK) continues to promote both inward and outward investment, reinforcing Hong Kong’s role as a global business hub. InvestHK embarked on a visit to the Gulf Cooperation Council (GCC) region from May 9 to 16, with stops in Oman and the United Arab Emirates (UAE). Significant progress was made in forging robust partnerships and generating tangible business outcomes. The visit also aligns with the momentum driven by the Chief Executive’s visit to the Middle East in May, during which three Memoranda of Understanding (MOU) were signed by InvestHK.
     
     The delegation comprised leaders from prominent financial services and fintech companies, founded locally, in Mainland China or overseas with operations in Hong Kong. They participated in high-level strategic meetings with senior management of local government organisations, chambers of commerce, sovereign wealth funds, private equity partners and tech incubators, facilitated by InvestHK.
     
     The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, said, “In today’s evolving global economy, Hong Kong has showcased its irreplaceable strategic value as a ‘super connector’. Our city’s unique advantage lies in its ability to effectively connect the East with the West and the Global South. At InvestHK, we are continuously strengthening our core role in facilitating business connectivity, with a firm commitment to delivering value-added services to Mainland and overseas companies looking to establish themselves in Hong Kong and expand globally. We recognise opportunities in high-potential markets, such as the GCC region, which are actively diversifying their economies through innovations. By partnering with InvestHK, companies can effectively access these competitive markets with the government support.”   
     
     Bridging markets and transforming outcomes: turning vision into action
     
     The Global Head of Financial Services, FinTech & Sustainability at InvestHK, Mr King Leung, added, “Our support for the delegation was very results driven, opening essential government-to-government (G2G) and business-to-business doors for them. Leveraging our in-depth understanding of each participating company, we successfully showcased Hong Kong as an efficient platform for connecting high-quality enterprises, earning broad recognition from local governments, businesses, and investors across the GCC region. This growing collaboration and trust are built on aligning the right expertise, the right people, and the right connectors. Together, we are creating meaningful bridges that transform relationships into tangible business outcomes.”
     
     Over the past two years, companies such as EvidentGroup, LianLian Global, Lingfeng Capital, OneDegree, 4Paradigm, Libertify and more participated in the delegations. Delegates acknowledged that remarkable results would not have been possible without opportunities and connections provided by the Hong Kong Special Administrative Region (HKSAR) Government.
     
     For Evident Group, a highlight was an MOU signing with Zand Bank, the UAE’s AI-powered bank, licensed by the Central Bank of the UAE, which Evident first connected with during last year’s delegation visit. The MOU signifies a commitment to develop a strategic collaboration, aimed at delivering innovative alternative investment solutions for Zand Bank’s private wealth clients. The goal is to leverage Evident’s secure, cutting-edge digital market infrastructure to facilitate access to alternative investments such as private equity secondaries, private credit, and tokenised infrastructure. This collaboration pioneers a new model, demonstrating how the digitalisation of private markets enhances Hong Kong’s role in linking global private wealth with unique investment opportunities.
     
     LianLian Global regards Hong Kong as a key hub for expanding its global ecosystem, particularly in the GCC region. Through InvestHK delegations, it forged key G2G ties, most notably with the Central Bank of the UAE, unlocking strategic opportunities in the region. At the Dubai FinTech Summit, LianLian reached a cooperation agreement with Lulu Money to extend its payment gateway services into Mainland China. Leveraging Hong Kong as a fund hub, it also addressed cross-border trade challenges between China and the Middle East and North Africa region. In one case, LianLian facilitated a procurement and payment solution for a company purchasing electric vehicles from China, streamlining transactions for both buyer and manufacturer.
     
     Lingfeng Capital has obtained its approved-in-principle from the Financial Services Regulatory Authority as a licensed fund manager in the UAE and established operations in Abu Dhabi as its regional headquarters after identifying opportunities during the first delegation visit last year. This year, Lingfeng Capital is further engaging with key partners and initiating the setup of a fund in Abu Dhabi to support portfolio companies from Hong Kong, Mainland and other international markets expanding into the GCC region.
     
     OneDegree has been recognised by GCC government officials for its industry-leading digital asset insurance offerings. Following an investment from Dubai Insurance, OneDegree is set to provide digital asset insurance in the UAE, having received approval from the Central Bank of the UAE through partnership with Dubai Insurance Co. In addition, Walaa is supplying reinsurance capital for OneDegree’s global digital asset book. A pivotal milestone was a private meeting with senior management of the Insurance Authority of Kingdom of Saudi Arabia during the delegation visit last year.
     
     Connecting the East with the West and the Global South
     
     The 2025 delegation led by InvestHK built on the solid foundation laid by the HKSAR Government officials during earlier trip to focus on driving tangible business results, further solidifying Hong Kong’s position as an outward-facing, globally connected economy. The success of these delegations reaffirms Hong Kong’s position as a “super connector” and “super value-adder” to the world, where innovation and strategic dialogue forge robust pathways for two-way economic growth. With tangible results achieved across sectors, InvestHK continues to empower enterprises to “go global” through Hong Kong. Looking ahead, these achievements will lay the foundation for transformative regional collaborations that will benefit Hong Kong and contribute to national policies supporting global trade and investment, further deepening international exchanges and co-operation.

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Scam alert related to banks

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

     â€‹The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press releases issued by the banks listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which have been reported to the HKMA. Hyperlinks to the press releases are available on the HKMA website.
      

Bank Type of Scam
The Bank of East Asia, Limited Fraudulent website and internet banking login screen
Shanghai Commercial Bank Limited Fraudulent website and internet banking login screen
Chong Hing Bank Limited Fraudulent website and internet banking login screen
Dah Sing Bank, Limited Fraudulent social media account

     The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
      
     Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the scams concerned, should contact the relevant bank with the information provided in the corresponding press release, and report the matter to the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012. read more

Housing Bureau responds to media enquiries about housing development in Fanling Area 17

     In response to media enquiries about the housing development in Fanling Area 17, a spokesman for the Housing Bureau today (June 16) responded as follows:
 
     The Housing Bureau has postponed on a temporary basis the development programme of the public housing project in Fanling Area 17 and adjusted the project’s development priority, having regard to the cost-effectiveness of various housing projects under planning. The authority stresses that it has not abandoned the project.
 
     Based on ground investigation, the Housing Department found that the Fanling Area 17 Site has complex geology with a deep bedrock layer. It is anticipated that a longer-than-normal construction period would be required, and the cost of foundation works would be significant. The bedrock level has been found at depths exceeding 80 metres below ground in general, with the deepest recorded at 120m below ground. If the site is to be used for public housing construction, deep foundation work will be involved. Preliminary estimates of the average construction cost per unit will increase by 60 per cent to 90 per cent, and the construction period will be lengthened by at least 10 months.
 
     Upon reviewing different housing construction projects, the Housing Department has decided to prioritise the development of other more cost-effective public housing projects in North District, including the completion of approximately 38 000 public housing units in Fanling, Sheung Shui and Kwu Tung North in the next five years (from 2025-26 to 2029-30). As regards the 8 300 units from the temporary postponement of the Fanling Area 17 public housing development project, apart from the above production in the five-year period, there will be other projects ready for completion in the second five-year period in North District, including 13 000 and 17 000 units in Fanling North and the Kwu Tung North New Development Area respectively. These developments will be expedited in order to maintain the originally scheduled completion date of the 8 300 flats in Fanling Area 17 in 2031/32.
 
     The Housing Bureau reaffirms that the target supply of 308 000 public housing units in the next 10 years remains unchanged. The adjustment in the priority of the development on this occasion will allow the authority to focus resources on developing first the more cost-effective public housing projects in order to provide homes to those in need as soon as possible. read more