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     The Chief Executive, Mr John Lee, continued his visit to Beijing this morning (November 4) and attended the opening ceremony of the 29th Beijing Hong Kong Economic Cooperation Symposium, themed “Beijing-Hong Kong: Together into the 15th Five Year Plan”.
      
     Speaking at the opening ceremony, Mr Lee said that the Symposium has achieved fruitful results over nearly three decades, during which co-operation between Beijing and Hong Kong has gradually expanded from trade, commerce and infrastructure to high-end areas including financial services, innovation and technology, green and low-carbon development, intellectual property and professional services. By bringing in Hong Kong’s international resources to serve Beijing’s high-quality development and opening up channels for Beijing’s innovative industries to go global, the Symposium has promoted two-way investment and joint development, and played an important role in deepening Beijing-Hong Kong collaboration.
      
     Mr Lee said that Beijing and Hong Kong can further deepen collaboration in three main directions in the future. These include advancing two-way financial opening up, where Hong Kong, as the most convenient international financing platform for Beijing enterprises, could join hands with Beijing to expand green finance and offshore Renminbi business; deepening collaboration in innovation and technology between the two places, accelerating the development of the Northern Metropolis and building an internationalised university town to promote the integrated development of education, technology and talent, opening a new chapter for Beijing and Hong Kong institutions to jointly nurture high-calibre talent and foster new quality productive forces; and giving full play to Hong Kong’s roles as a “super connector” and a “super value-adder” to fully empower enterprises in going global and help bring the country’s culture and soft power to the world. He said that Hong Kong will continue to proactively serve the country’s needs and work with Beijing to transform the achievements of co-operation between the two places into a new impetus of high-quality development, making greater contributions to the country’s high-standard opening up.
      
     Mr Lee later departed for Shanghai. He will attend the welcome dinner of the ninth China International Import Expo (CIIE) in the evening, and exchange views with various participants from all over the world.
      
     Mr Lee will attend the opening ceremony of the ninth CIIE and the Hongqiao International Economic Forum tomorrow (November 5). He will also visit the Hong Kong exhibition area and the exhibition booths of Hong Kong enterprises, and deliver a speech at the Hong Kong sub-forum of the Hongqiao International Economic Forum.

    

     Following is a question by the Hon Ray Wong and a written reply by the Secretary for Commerce and Economic Development, Mr Algernon Yau, in the Legislative Council today (November 4):
 
Question:
 
     It has been about one year since the establishment of the Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force), steered by the Secretary for Commerce and Economic Development. According to the authorities, the GoGlobal Task Force has provided assistance for more than 340 Mainland enterprises in setting up or expanding their operations in Hong Kong, and around 30 per cent of these enterprises have positioned Hong Kong as their regional or international headquarters or corporate treasury centre (CTC). Various sectors of the society have expressed concern about the GoGlobal Task Force’s overall substantive effectiveness, its evaluation mechanisms, the details of its services, and its long-term work plan. They have called for supporting measures to be optimised to leverage Hong Kong’s full potential as a springboard for Mainland enterprises going global. In this connection, will the Government inform this Council:
 
(1) whether clear performance indicators and performance evaluation mechanism have been established for the various tasks undertaken by the GoGlobal Task Force; if so, of the assessment results of the overall substantive effectiveness of the GoGlobal Task Force’s work since its establishment; whether data has been obtained on the enterprises assisted by the GoGlobal Task Force, including (i) enterprise size, (ii) place of origin, (iii) sectoral distribution, and (iv) the number and proportion of such enterprises that have established regional or international headquarters, CTCs, or other business operations in Hong Kong; if so, to provide the relevant information in tabular form; if not, the reasons for that;
 
(2) as the Chief Executive announced in the 2026 Policy Address, plans are in place to deepen collaboration with trade associations in both places to provide targeted support services to Mainland enterprises, how the authorities will implement the relevant work, for example, will priority sectors be defined for co-operation with trade associations, co-operation models and tailored industry support measures, as well as a timetable for implementation; if so, of the details; if not, the reasons for that;
 
(3) of the specific strategic objectives of the overseas duty visits planned by the GoGlobal Task Force for the coming year, the countries and regions proposed to be visited, the priority industries and categories of enterprises to be engaged, and the expected tangible outcomes; and
 
(4) given the continued increase in Mainland enterprises’ demand for going global, whether the authorities will accord priority to select key industries with strong demand for going global and promote the alignment of rules between the Mainland and overseas markets in areas such as technical standards, regulatory requirements, and professional qualification certification, in order to help such enterprises overcome barriers to overseas market access; if so, of the specific measures and implementation timetable; if not, the reasons for that?
 
Reply:
 
President,
 
     The National 15th Five-Year Plan supports Hong Kong in leveraging its advantages in professional services to assist Chinese enterprises in going global. According to Hong Kong’s First Five-Year Plan, Hong Kong should enhance its function as a platform for going global, thereby echoing our country’s plan to improve the comprehensive overseas services system and provide one-stop, high-quality and high value-added professional corporate services for Chinese Mainland enterprises going global.
 
     To better support Chinese Mainland enterprises in going global through Hong Kong, the Commerce and Economic Development Bureau (CEDB) established the Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force), steered by the Secretary for Commerce and Economic Development (SCED), last October. The GoGlobal Task Force mobilises Invest Hong Kong (InvestHK), the Hong Kong Trade Development Council and Hong Kong’s offices in the Chinese Mainland, serving as a one-stop platform providing customised support services to Chinese Mainland enterprises. At the same time, the GoGlobal Task Force leverages the network of the 15 overseas Hong Kong Economic and Trade Offices of the Hong Kong Special Administrative Region (HKSAR) Government, connecting Chinese Mainland enterprises with overseas markets to seek overseas partners and explore business opportunities. Since its establishment, the GoGlobal Task Force has held four meetings of the Steering Committee and has assisted Chinese Mainland enterprises in going global via Hong Kong in an orderly manner through a three-step approach of “bringing in”, getting ready and going global.
 
     Our reply to the question raised by the Hon Ray Wong is provided below:
 
(1) Under the direction of “bringing in” and going global, the work of the GoGlobal Task Force is in line with the Government’s overall strategies on attracting enterprises and investments, as well as the continuous expansion of international economic and trade network.
 
     On attracting enterprises and investments, the key performance indicator announced in the 2025 Policy Address is to attract at least a total of 1 200 Chinese Mainland or overseas enterprises to set up or expand their businesses in Hong Kong in 2026 and 2027. This includes Chinese Mainland enterprises establishing a presence in Hong Kong and those planning to use Hong Kong as a base for international expansion. Meanwhile, since its establishment up to September this year, the GoGlobal Task Force has assisted over 360 Chinese Mainland enterprises from various provinces, municipalities and autonomous regions in setting up or expanding their operations in Hong Kong. It has also supported them in making necessary preparations for going global, including listing and raising capital in Hong Kong, aligning with overseas standards, acquiring industry certifications and fulfilling compliance requirements. These enterprises mainly cover sectors such as transport, logistics and industrials; financial technology; innovation and technology; tourism and hospitality; digital technology and data innovation; and life and health sciences. About 30 per cent of these enterprises position their Hong Kong operations as international/regional headquarters, corporate treasury centres or other high value-added corporate functions, showcasing Hong Kong’s pivotal role as a high value-added platform for going global. It is estimated that these enterprises will bring in about HK$61.3 billion of direct investment to Hong Kong and create around 8 500 new jobs.
 
     Many of these enterprises that have established a presence in Hong Kong have become successful cases. For instance, a Fortune Global 500 traditional Chinese medicine (TCM) enterprise has established a corporate treasury centre and a research and development (R&D) centre in Hong Kong, with a view to leveraging Hong Kong’s international medical technology and research capabilities to advance the modernisation and internationalisation of TCM. Furthermore, an enterprise specialising in AI technologies and products has successfully connected with the Hong Kong Exchanges and Clearing Limited and the Hong Kong Science and Technology Parks Corporation, positioning Hong Kong as a base for its R&D activities targeting overseas markets.
 
     We will continue to proactively attract high-potential Chinese Mainland enterprises to Hong Kong and assist those that have already established a presence here in preparing for international expansion. Meanwhile, the GoGlobal Task Force will leverage Hong Kong’s international network to facilitate their business development abroad and engage relevant enterprises in a systematic manner to keep abreast of their latest operational situation and plans.
 
(2) The 2026 Policy Address announced that the GoGlobal Task Force will deepen collaboration with trade associations in both Hong Kong and the Chinese Mainland to provide more targeted support services to Chinese Mainland enterprises. The GoGlobal Task Force will collaborate with trade associations and chambers of commerce in both Hong Kong and the Chinese Mainland (including local branches of the Federation of Industry and Commerce and the China Council for the Promotion of International Trade,) to organise industry-focused briefings and seminars in various provinces and municipalities to help Chinese Mainland enterprises gain a deeper understanding of Hong Kong’s high value-added services and advantages as a GoGlobal platform, as well as the preparations required for overseas expansion. This will enable enterprises to begin preparations for their internationalisation at an earlier stage in the Chinese Mainland and then expand overseas through Hong Kong. The GoGlobal Task Force will also leverage the networks of Hong Kong’s chambers of commerce, industry associations and professional organisations to reach out to more Chinese Mainland enterprises interested in overseas expansion, as well as relevant Hong Kong professional service providers, to gain a more in-depth understanding of the market demand for professional services and facilitate enterprises’ preparations for international expansion.
 
(3) One of the primary tasks of the GoGlobal Task Force is to organise outbound missions led by Principal Officials of the HKSAR Government to enable enterprises to understand target overseas markets in person and explore potential collaboration opportunities on the ground. Among them, the Chief Executive personally led a business delegation comprising over 30 representatives from Chinese Mainland enterprises to visit Kazakhstan and Uzbekistan in June this year. A total of 96 co-operation agreements and memoranda of understanding (MOUs) were reached during the visit, involving specific amounts exceeding US$1.65 billion in total. Some of the Chinese Mainland enterprises in the delegation have successfully launched various co-operative projects with Central Asia and are progressively expanding their operations in the region.
 
     In August 2026, SCED also led over 10 Chinese Mainland enterprises to visit Kuala Lumpur, Malaysia, to connect them with the vast market of the Association of Southeast Asian Nations, achieving positive outcomes. For example, members of the delegation exchanged two MOUs with local enterprises and chambers of commerce, while InvestHK signed an MOU with the Malaysian Investment Development Authority to step up two-way investment co-operation between the two places, thereby further assisting Chinese Mainland enterprises to expand their businesses.
 
     Riding on the successful experience and positive outcomes of this year’s missions, the GoGlobal Task Force will continue to organise outbound missions in 2027, and the relevant arrangements will be made having regard to factors such as the outbound visit schedules of the Principal Officials concerned, the latest developments in overseas markets, Hong Kong’s economic and trade relations with the relevant markets (such as whether they are economies that have signed Free Trade Agreements (FTAs) or Investment Agreements (IAs) (Note 1) with Hong Kong), investment plans of the relevant Chinese Mainland enterprises. Details will be announced in due course.
 
(4) The CEDB has been working closely with relevant Chinese Mainland authorities to maintain communication regarding the arrangements for GoGlobal enterprises. In February 2026, the CEDB signed an MOU on strengthening co-operation and exchange in the provision of comprehensive overseas services with the Ministry of Commerce to strengthen co-operation and exchange in the provision of comprehensive overseas services, foster closer collaboration between Chinese Mainland enterprises seeking to go global and Hong Kong professional service providers, as well as to strengthen the capacity of Chinese Mainland enterprises in going global. The GoGlobal Task Force will continue to proactively follow up on the implementation of the measures set out in the MOU, and maintain close liaison with relevant Chinese Mainland authorities. Taking into account the economic characteristics and industrial strengths of different provinces and municipalities, the GoGlobal Task Force will also identify suitable enterprises with overseas expansion needs and provide the necessary professional services support, thereby offering more focused and targeted support for their international expansion through Hong Kong.
 
     To strengthen and more systematically co-ordinate Hong Kong’s professional services support for enterprises going global, the GoGlobal Task Force launched the Cross-sectoral Professional Services Platform (the Platform), GoGlobal Connect, in April this year, bringing together eight groups of Hong Kong professional service providers (Note 2) to provide professional consultation services to Chinese Mainland enterprises seeking to go global. At present, the Platform comprises more than 220 Hong Kong professional service providers and has processed around 300 enquiries related to overseas expansion through both online and offline channels. The GoGlobal Task Force will continue to enhance the Platform’s matching function to connect Chinese Mainland enterprises and Hong Kong professional service providers, and keep track of the effectiveness of individual cases. We will also enhance the Platform’s search and matching functions to showcase service providers of different scales, thereby better fulfilling the needs of enterprises going global.
 
     The 2026 Policy Address announced further enhancing the Platform by adding a new sector to provide environmental, social and governance services, with a view to leveraging Hong Kong’s international expertise to assist Chinese Mainland enterprises in meeting the requirements of their target markets, including requirements for technical standards and market access. We will continue to invite more professional service providers of different sizes and specialties to join the Platform to provide more diverse and targeted professional support services to Chinese Mainland enterprises.
 
Note 1: At present, Hong Kong has signed nine FTAs with 21 economies and 25 IAs with 34 overseas economies.
 
Note 2: Including financial services; legal services; accounting, tax and business advisory services; design, marketing and brand management services; logistics and transportation services; telecommunications and information technology services; infrastructure and real estate-related services; as well as testing and certification services. read more

     ​The Government welcomed the passage of the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026 by the Legislative Council today (November 4) to implement in Hong Kong the Crypto-Asset Reporting Framework (CARF) and the latest amendments to the Common Reporting Standard (amended CRS) developed by the Organisation for Economic Co-operation and Development (OECD).

     In light of the rapid development of digital asset markets in recent years, the OECD published CARF in 2023 to provide for the automatic exchange of tax information on crypto-asset transactions with partner jurisdictions on an annual basis, and amended the CRS to cover digital financial products and enhance the requirements regarding reporting and due diligence.

     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “Hong Kong has been supporting international efforts in enhancing tax transparency and combatting cross-border tax evasion. Implementing the latest international standards for automatic exchange of information in tax matters is crucial to maintaining Hong Kong’s reputation as an international financial and commercial centre. Aligning with the latest international standards will reinforce the confidence of crypto-asset service providers, financial institutions and digital asset users in operating and making long-term investments in Hong Kong.”

     CARF will be implemented in Hong Kong next year when relevant service providers will be required to collect the information specified under the framework for the Inland Revenue Department (IRD) to exchange with partner jurisdictions starting from 2028. The amended CRS will also take effect in 2028, and the IRD will automatically exchange financial account information with suitable partners in accordance with the new standard starting from 2029. Hong Kong will conduct information exchanges on a reciprocal basis and on the premise of data confidentiality and security.

     To assist the industry in adapting to the new requirements and to enhance tax certainty, the IRD will issue relevant guidance and has set up a dedicated team to provide technical support to the industry and address their enquiries.

     Since 2018, Hong Kong has been conducting automatic exchange of financial account information with partner jurisdictions annually in accordance with the CRS developed by the OECD, assisting relevant tax authorities to detect and combat tax evasion. read more

     ​The Chief Secretary for Administration, Mr Chan Kwok-ki, chaired the 23rd meeting of the Youth Development Commission (YDC) today (November 4).
          
     At the meeting, the Education Bureau introduced the “Salute to the National Flag” Hong Kong and Macao Youth Flag-Raising Teams’ Beijing Visit Delegation. The Delegation was a high-level key youth exchange programme held in Beijing from September 18 to 22. During the visit, the Delegation was received at the Great Hall of the People by Member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and Vice Premier of the State Council, Mr Ding Xuexiang, who conveyed President Xi Jinping’s and the Central Government’s cordial remarks and exhortations for the young people of Hong Kong and Macao. Delegation members also witnessed the solemn flag-raising ceremony at Tiananmen Square and engaged in exchanges and interaction with the People’s Liberation Army Ceremonial Escort Battalion. The visit aimed to enable students to experience the historical culture of the capital and the country’s development achievements, and to deepen their sense of national identity and patriotism.

     Furthermore, members were briefed by government representatives on the new policy initiatives related to youth development in the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) (Hong Kong’s First Five-Year Plan) and the Chief Executive’s 2026 Policy Address (Policy Address). Hong Kong’s First Five-Year Plan emphasises enhancing youth development opportunities and supporting young people in pursuing their dreams. The Government will step up the focus on young people’s education, employment, entrepreneurship, and home ownership, and nurture talent who can serve the needs of the country and leverage the strengths of Hong Kong. Through a wide array of activities, the Government inspires young people to unleash their potential, passes on the spirit of loving the country and Hong Kong, and promotes international youth exchanges and collaboration.
      
     The Policy Address has introduced a series of measures to promote youth development, covering policy areas under various policy bureaux. The measures include, among others, deepening youth patriotic education; establishing an International Youth Talent Exchange Base; strengthening co-operation with international organisations to open up more opportunities for young people to go global; expanding youth internship and training activities in key areas such as finance, aerospace technology, high-end scientific research and AI; and enhancing the HYAB Youth Start-up Internship Programme. The Government aims to help young people broaden their international perspectives, accumulate practical experience in emerging fields, and better integrate into and serve the overall national development.
      
     Mr Chan said, “The Delegation has yielded fruitful learning outcomes. To further consolidate and deepen the educational effectiveness of the activity, the Government will actively roll out a series of follow-up activities under the strategies of peer inheritance and territory-wide participation, transforming students’ profound reflections into learning and teaching resources for sustainable promotion, allowing the spirit of the national flag to take root in schools, and inspiring more young people to understand, respect and safeguard the national flag. In addition, the Government has put forward a series of new measures on youth development, with the aim of keeping pace with the times and responding to the evolving needs of young people. The Government will continue to work hand in hand with the YDC and rally the strength of all sectors of society to implement the youth development measures in Hong Kong’s First Five-Year Plan, the Policy Address and the Youth Development Blueprint so as to support young people to pursue their dreams, unleash their full potential, and create a brighter, broader future together.” read more

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The “Conversations with Global Investors” forum held in Hong Kong today (November 4) brought the three-day Global Financial Leaders’ Investment Summit 2026 to a successful conclusion following a lively exchange of views on key issues shaping the future of global financial markets. 
      
     Jointly organised by the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), and the Hong Kong Academy of Finance (AoF), the forum brought together more than 300 overseas and local leaders from the financial markets, the commercial and public sectors.
      
     The Chief Executive of the HKMA and the Chairman of the AoF, Mr Eddie Yue, said, “This fifth edition of the Summit has evolved into a leading platform for global financial dialogues amid complex economic challenges and shifting investment landscapes. By bringing together the world’s financial leaders, the event underscores Hong Kong’s role as a premier international financial centre.”
      
     The Chairman of the SFC, Dr Kelvin Wong, said, “Hong Kong stands unmatched as Asia’s resilient financial gateway – innovative, connected and globally trusted. Amid a shifting terrain, we are committed to maintaining market quality and resilience, upholding robust governance, and unlocking new opportunities for investors worldwide. Together, we will transform challenges into the next chapter of shared prosperity.”
      
     The three-day Summit welcomed over 300 participants, including more than 100 group chairmen and chief executive officers from the world’s top financial institutions, representing banks, securities firms, asset owners, asset managers, private equity and venture capital firms, hedge funds and insurers. With “Rethinking the Playbook” as the overarching theme of the Summit, more than 20 leading global investors shared their insights during today’s discussions on a broad spectrum of pivotal issues. They included, among others, the changing landscape of asset and wealth management and alternative investments, Asia’s expanding investment horizons, and the role of Artificial Intelligence in revolutionising portfolio management and risk assessment.