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     Following is the speech by the Financial Secretary, Mr Paul Chan, at the Global Financial Leaders’ Investment Summit Welcome Dinner this evening (November 2):

Eddie (Chief Executive of the Hong Kong Monetary Authority (HKMA), Mr Eddie Yue), distinguished guests, ladies and gentlemen,

     Good evening.
 
     Welcome to Hong Kong. And to those returning, welcome back.
 
     It is wonderful to see so many financial leaders together, and to know that, for the next couple of hours, your attention will be on the menu rather than the markets.
 
     My thanks to Eddie and the HKMA team for bringing us together. They have prepared two days of hard questions and fresh ideas for you, and one very good dinner. So I’ll keep my remarks short and let you enjoy it.
 
     This summit’s theme, “Rethinking the Playbook”, is well chosen. Before the rethinking begins, let me offer one observation from this city: playbooks change, but some fundamentals endure.
 
     Investors value stability, clarity and choice. Under the “one country, two systems” framework, Hong Kong enjoys the staunch support from the Central Government. At the same time, we offer sound institutions, a predictable regulatory framework and friendly business environment, and the free flow of capital. You can bring capital here, put it to work and move it freely.
 
     That freedom gives investors confidence. Our task is to give them compelling reasons to commit their capital to Hong Kong.
 
     Our markets offer some of those reasons: access to capital, active trading and a broad investor base. In the first nine months of this year, IPO (initial public offering) fundraising in Hong Kong exceeded HK$388 billion, more than double the same period last year. That was a record for the period, too. Follow-on fundraising is strong, trading is active, and international and Chinese investors continue to choose Hong Kong.
 
     The wider economy is also gathering momentum. Hong Kong’s GDP (gross domestic product) grew by 5.1 per cent in the first half of this year, and that momentum continues. Exports have recorded strong double-digit growth for 12 consecutive months, supported by the global AI investment boom. Investment has registered double-digit growth, complemented by encouraging signs of rising consumption. Inflation has remained moderate at 1.7 per cent. 
 
     The property market is also recovering. Residential property prices have been rising for more than a year, while occupancy rates and rents in the commercial property market are stabilising.
 
     Taken together, we are confident and optimistic about the economy. We will revise upward our full-year GDP growth forecast, putting Hong Kong on course for its strongest annual growth in five years.
 
     But a financial centre is not measured by any single number. Its strength lies in how capital, expertise and services work together. That is the thinking behind Hong Kong’s very First Five-Year Plan: bringing finance, shipping and aviation, trade, innovation and technology, as well as talent into one connected ecosystem, each part reinforcing the others.
 
     Innovation and technology will power much of what comes next. We are backing it with patient capital, and connecting Hong Kong’s research strengths and internationality with the Greater Bay Area’s advanced manufacturing capabilities and supply chains. 
 
     The Northern Metropolis will deepen that collaboration, bringing universities, talent, research institutes and industry closer together. For investors, the opportunity goes beyond the next deal. It is to be part of an ecosystem where ideas can become businesses, and businesses can reach both the Mainland and global markets.
 
     Ultimately, it is people who make that ecosystem work. And I hope you take a little time to experience Hong Kong beyond the boardroom.
 
     Take the Star Ferry across the harbour. Walk our streets. Try somewhere new for lunch or dinner. You will feel this city’s energy, and meet the people who create it: enterprising, open, always moving forward.
 
     That same spirit brings us together tonight: renewing friendships, making new connections and exploring what we can achieve together. 
 
     Hong Kong is honoured to host you, and ready to work with you on what comes next.
 
     But first, enjoy the dinner and enjoy the company. Thank you, and bon appetit.

  

     The Centre for Health Protection (CHP) of the Department of Health today (November 2) recorded a severe case of paediatric influenza infection. The CHP urged the public not to underestimate the seasonal influenza and to receive vaccinations as early as possible. This is crucial for preventing severe cases of seasonal influenza and its complications, as well as protecting one’s own health and that of their families. In addition, the public should maintain good personal and environmental hygiene at all times to prevent influenza and other respiratory illnesses.
 
     The case involves a 7-year-old girl with good past health. She developed a fever, cough and malaise on October 27 and subsequently visited a private clinic for medical attention. Due to her persistent symptoms, she was brought to the Accident and Emergency Department of Kwong Wah Hospital on October 29 and was admitted for treatment. As her condition deteriorated, and she developed respiratory distress, she was transferred to the paediatric intensive care unit. Her respiratory specimen tested positive for influenza A (H1) virus. Her clinical diagnosis was influenza A infection complicated with severe pneumonia. The patient is currently in serious condition.
 
     The CHP’s preliminary investigation revealed that the girl had no travel history during the incubation period and had not received the Seasonal Influenza Vaccination (SIV). One of her household contacts recently developed a fever and mild upper respiratory symptoms that did not require hospitalisation and has recovered. The CHP will continue to investigate the case.
 
     “Hong Kong entered the influenza season in late June this year and the influenza season has lasted for four months as of now. The latest surveillance data showed that the overall influenza activity showed signs of decline but remained above the baseline level. A cumulative total of 29 cases of severe paediatric influenza infection have been recorded in the current influenza season. Among these cases, 20 patients have recovered and been discharged from hospital, two are in stable condition, one is in serious condition, four are in critical condition and two have passed away,” said the Controller of the CHP, Dr Edwin Tsui.
 
     “Vaccine effectiveness begins to wane approximately nine months after vaccination. Therefore, the World Health Organization recommends receiving the SIV every year. For most people, more than nine months have passed since they received last season’s (2025/26) SIV. Hence, a decline in protection is inevitable. A decline in the overall population’s herd immunity, coupled with the fact that the current influenza season has persisted at high levels for an extended period, has increased the likelihood of infection and severe complications among high-risk groups. Individuals who have contracted influenza earlier this influenza season but have not yet received the SIV should also get vaccinated promptly to protect against other circulating virus strains. Receiving the SIV is the most effective way to prevent severe cases of seasonal influenza and its complications. The SIV also reduces the risk of hospitalisation and death. Therefore, all people aged 6 months or above, except those with known contraindications, should receive the SIV for personal protection as early as possible,” he added.
 
     The CHP’s analysis of data from the previous year revealed that the rate of severe complications or death among unvaccinated children following influenza infection was approximately five times higher than that among vaccinated children. Among unvaccinated residents aged 65 years or older living in residential care homes for the elderly, the rate of severe complications was approximately four times higher than that among vaccinated residents.
 
     The 2026/27 SIV programmes, including the SIV School Outreach Programme (SIVSOP), commenced on September 17. The SIVSOP this year has introduced a new Electronic Consent Form (e-consent form) feature via eHealth. This new measure not only enables the public to join the SIV Programmes but also streamlines the administrative procedures for healthcare service providers and schools, so that SIV outreach activities can start as early as possible. About 1 660 schools have organised SIV outreach activities. SIV outreach activities are expected to be completed by mid-December, about two weeks earlier than last year.
 
     The health condition of children with influenza can deteriorate rapidly. Parents must pay close attention to their condition and visit an accident and emergency department immediately if the child’s condition deteriorates with symptoms such as shortness of breath, wheezing, blue lips, chest pain, confusion, a persistent fever or convulsions. Members of the public should seek medical attention as soon as possible if they develop respiratory symptoms. If they live with members of high-risk groups, such as children, the elderly and those with underlying illnesses or compromised immune systems, they should wear a surgical mask at home to reduce the risk of infecting them. Other effective ways to reduce the spread of the disease include maintaining household hygiene, frequently cleaning and disinfecting frequently touched surfaces, practising good hand hygiene, and ensuring proper indoor air circulation.
 
     Members of the public may refer to the CHP’s COVID-19 & Flu Express, Seasonal Influenza Webpage and Vaccination Schemes for the latest information. read more

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

     The Hong Kong Monetary Authority (HKMA) today (November 2) announced that EnsembleTX, the pilot phase of Project Ensemble, has entered a new chapter to support the interbank settlement of tokenised deposit transactions in tokenised Central Bank Money (CeBM) on a 24×7 basis. The number of participating banks (at Annex A) and industry pioneers (at Annex B) of EnsembleTX has increased to 12 and 20 respectively, marking broader industry participation.
 
     The new capability enables participating banks and industry pioneers to leverage tokenised CeBM for the timely settlement of tokenised transactions beyond conventional operating hours, helping to meet the needs of an increasingly global and always-on digital financial market.
      
     Launched in November 2025, EnsembleTX initially leveraged the HKD Real Time Gross Settlement (RTGS) system for interbank settlement of tokenised deposit transactions, enabling real-value transactions involving tokenised deposits and digital assets under a controlled pilot environment, including industry pioneers (Note 1) leveraging tokenised deposits provided by participating banks (Note 2) for corporate treasury management and tokenised money market fund transactions. With the launch of the new capability, Project Ensemble will further facilitate the scaling of transactions and the exploration of more impactful tokenisation use cases which will deliver tangible benefits and support the development of a sustainable tokenisation market.
 
     Looking ahead, the HKMA will continue to work closely with the Securities and Futures Commission (SFC) to facilitate a supportive and co-ordinated environment for the development of tokenised financial ecosystem and related market infrastructure. 
      
     The Chief Executive of the HKMA, Mr Eddie Yue, said, “In just two years, Project Ensemble has transitioned from experimentation and piloting to a new phase focused on promoting the commercialisation of tokenisation applications in Hong Kong. The swift yet incremental upgrade of the infrastructure demonstrates the HKMA’s determination to foster the development of the tokenisation ecosystem in Hong Kong. As the market continues to evolve, a trend is emerging in the launch of tokenised deposits by banks worldwide. Looking ahead, we anticipate that the commercialisation of tokenised deposits and digital assets will gain momentum. Moreover, we eagerly await the emergence of innovative ideas from the market in the years to come, which will further accelerate the growth of the tokenisation ecosystem in Hong Kong.”
      
     The Chief Executive Officer of the SFC, Ms Julia Leung, said, “The introduction of 24×7 interbank settlement in tokenised CeBM represents a significant step towards a more scalable tokenised market in Hong Kong. Tokenised deposits can now power around-the-clock transactions, including corporate treasury management and secondary trading of tokenised funds on licensed platforms, galvanising market liquidity and supporting investors’ risk management. The SFC will continue to work together with the HKMA and market participants to turn the new EnsembleTX capabilities into practical applications and further advance Hong Kong’s digital asset journey.”

Note 1: Including: Ant International, BlackRock, China Asset Management (Hong Kong) Limited

Note 2: Including: Bank of China (Hong Kong) Limited, China Construction Bank (Asia) Corporation Limited, Industrial and Commercial Bank of China (Asia) Limited, Standard Chartered Bank (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited read more

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

     The Legislative Council (LegCo) Panel on Transport visited the Central Kowloon Bypass (Kowloon Bay Section) today (November 2) to learn about the latest progress of the section prior to its commissioning, as well as the challenges in tunnel construction.

     Accompanied by the Secretary for Transport and Logistics, Ms Mable Chan, Members first received a briefing from representatives of the Government at the Tseung Kwan O – Lam Tin Tunnel Administration Building on the project information and commissioning arrangements of the Central Kowloon Bypass (Kowloon Bay Section). Members also visited the Tunnel Control Centre to gain an understanding of the operation of the Traffic Control and Surveillance System, and how the traffic inside the tunnel is monitored and managed through closed-circuit televisions and automatic incident detection systems, etc.

     The Central Kowloon Bypass (Yau Ma Tei Section) was commissioned in December last year, while the remaining Kowloon Bay Section will be commissioned on December 6 this year. Members noted that the 3.4-kilometre-long Kowloon Bay Section, which links the Tseung Kwan O-Lam Tin Tunnel and the Central Kowloon Bypass (Yau Ma Tei Section) to form Route 6, connects various districts including Yau Ma Tei, Kai Tak and Tseung Kwan O with a fixed toll of $8. It is anticipated that the journey time between Tseung Kwan O and Yau Ma Tei via the Central Kowloon Bypass during peak hours will be substantially reduced from the past 65 minutes to 12 minutes, making travelling more convenient for the public.

     Members then visited the portals and the tunnel tubes of the Kowloon Bay Section to learn about the traffic arrangements of the road section connecting Lam Tin Interchange and Kai Tak, as well as the construction challenges encountered in the underwater tunnel. Members noted that the Kowloon Bay Section project adopted multiple innovative tunneling and automation technologies, alongside Multi-trade Integrated Mechanical, Electrical and Plumbing (MiMEP) method, etc, to ensure safe and effective large-scale tunnel boring beneath the seabed while reducing risks of works and minimising disruption to residents’ daily lives.

     During the visit, Members exchanged views with representatives of the Transport and Logistics Bureau, the Civil Engineering and Development Department and the Transport Department, and requested the Government to step up public publicity before the commissioning and closely monitor the traffic conditions in the initial stage of commissioning, so as to ensure smooth traffic flow in relevant road sections.

     A total of 18 members and non-members of the Panel on Transport participated in the visit.

        

     Following is the closing remarks by the Deputy Secretary for Justice, Dr Cheung Kwok-kwan, at Hong Kong Legal Week 2026: UNIDROIT Centenary: Regional Conference for the Asia-Pacific and Opening Ceremony of the Asia-Pacific Liaison Office today (November 2):
 
Professor Tirado (Secretary-General of UNIDROIT (International Institute for the Unification of Private Law), Professor Ignacio Tirado), your Excellency, distinguished guests, ladies and gentlemen,
 
     It gives me great honour and pleasure to deliver the closing remarks of this conference. This conference celebrates a remarkable milestone in the history of UNIDROIT for its unwavering commitment of a century to the modernisation and harmonisation of international private law. It was clear from today’s discussions that the achievement of UNIDROIT extends far beyond the mere development of rules – its robust frameworks have laid a solid foundation for international commerce, economic stability and transnational legal certainty. This conference also provided a timely opportunity to look back on how the organisation has evolved over the century and to witness the beginning of its next chapter with the momentous opening of its Asia-Pacific Liaison Office right here in Hong Kong.
 
Highlights and key messages from panel discussions
 
     As we draw this conference to a close, I would like to reflect on some highlights and key messages of today’s discussions.
 
     Unfolding UNIDROIT’s Asia-Pacific chapter, the first panel examined how core UNIDROIT instruments can strengthen legal infrastructure across the region, supporting growth and deepening connectivity. The panel underscored the unique character of the Asia-Pacific – a region with diverse legal traditions, economic dynamism and rapid technological transformation – while it recognised that this dynamic landscape also brings complexities and uncertainties to cross-border transactions. It was inspiring to hear from our distinguished speakers on how UNIDROIT’s instruments have modernised commercial law frameworks – from secured transactions and international commercial contracts to agriculture and digital economy – which has supported sectoral development, mobilised finance to emerging markets and facilitated cross-border commerce.
 
     The message here is clear: UNIDROIT’s expanding regional presence will deliver profound benefits to the Asia-Pacific region and beyond. The establishment of its first overseas office in Hong Kong therefore comes at the most timely and strategic juncture. By establishing its presence in this dynamic region, the UNIDROIT Liaison Office will play a vital role in supporting the fast-paced growth, resilience and prosperity of the Asia-Pacific. Such dynamics may even extend to regions beyond the Asia-Pacific with the strategic location of the Liaison Office.
 
     This brings me to the second panel. Looking beyond UNIDROIT’s first centenary, we examined the strategic role of the newly established Liaison Office as a focal point for promoting regional legal harmonisation and co-operation. The discussions highlighted the multifaceted nature of UNIDROIT’s engagement: the Liaison Office will serve not only as a platform for dialogue with governments on the development and implementation of its instruments, but also as a hub for collaboration with academia, arbitral and mediation institutions, financial institutions and other key stakeholders. Most importantly, the panel demonstrated how UNIDROIT has evolved from a rule-making body to a trusted partner in the development and implementation of transnational private law, and for related capacity building.
 
     In this regard, the Liaison Office is not working alone. It will be in partnership with other international organisations in the region. Such multilateral co-operation has been examined by the final panel. The discussion underscored the importance of regional and international partnerships to advance the development and promotion of transnational law. In an increasingly interconnected region with diverse legal systems, no single organisation can by itself address the full spectrum of challenges faced by the region. By partnering with other international organisations in the region, UNIDROIT and its partners can leverage on their respective expertise to deliver legal infrastructure that is robust and attuned to the needs of the region. This sustained multilateral co-operation – from rule-making to implementation and to capacity building – has underpinned that UNIDROIT’s century of success will be further deepened in the future ahead.
 
Leveraging Hong Kong’s unique strengths to supporting UNIDROIT’s future work
 
     Before I close, I would like to share with you my thoughts on how Hong Kong can further contribute to the work of UNIDROIT in the years to come.
 
     First of all, UNIDROIT’s strategic decision to open its first-ever overseas office here reflects a powerful vote of confidence in Hong Kong and in our legal system. Indeed, UNIDROIT’s steadfast commitment to legal certainty resonates with Hong Kong’s institutional bedrock. Supported by the principle of “one country, two systems”, Hong Kong is an internationally trusted legal system underpinned by the robust rule of law, a sophisticated bilingual common law system and an independent judiciary. As a well-established international legal and dispute resolution services centre, Hong Kong is home to many international and regional institutions. These unique advantages strategically position Hong Kong as the ideal platform for international co-operation in the region. The Liaison Office can leverage on Hong Kong’s connectivity to engage governments, professional bodies and other key stakeholders across the Asia-Pacific, facilitating the exchange of expertise, the dissemination of UNIDROIT instruments and the practical implementation of those standards in the region.
 
     Further, Hong Kong has a large and diverse pool of international legal talents, which can offer UNIDROIT a ready platform for dialogue, research and capacity building. As a hub for high-calibre legal talent and capacity building, Hong Kong can also support UNIDROIT’s work in this area. Since the launch of the Hong Kong International Legal Talents Training Academy in 2024, we have collaborated with many international organisations, including UNIDROIT, in organising capacity-building programmes to promote the exchanges among international legal talents in the region. For instance, tomorrow, we will be hosting the 3rd edition of the UNIDROIT Asia-Pacific International Private Law Summit, which is co-organised by the Department of Justice (DoJ) in partnership with UNIDROIT. With the establishment of the Liaison Office, I am sure there will be ample opportunities for more capacity-building events in Hong Kong.
 
     Finally, Hong Kong’s growing community of international organisations fosters the deepening of multilateral co-operation. With the establishment of the UNIDROIT Liaison Office, we are delighted to now have all “Three Sisters of Private International Law” united in the Hong Kong Legal Hub, alongside other prominent international legal organisations and bodies including the International Organization for Mediation with its headquarters here. We are confident the Hong Kong Legal Hub will increase engagement and create synergies for advancing legal co-operation in the region. Looking ahead, we will be constructing the Hong Kong International Legal Service Building. It will be a landmark providing top-notch facilities and environment for international legal and dispute resolution services institutions to conduct activities such as arbitration and mediation, legal talent exchange and training, international legal conferences and research. The DoJ is fully committed to supporting the work of UNIDROIT and other international organisations hosted in Hong Kong, and will be a trusted partner in advancing their meaningful work in the region.
 
     On this last note, I wish to express my sincere congratulations to UNIDROIT on its remarkable milestone achievement, and my heartfelt gratitude to all of our distinguished speakers for their contributions to this conference. I would also like to extend my warm thanks to all participants – whether joining us in person or online – for your active engagement, which has helped make this conference a great success. I hope that you have an enjoyable evening to explore this vibrant city, and I look forward to seeing you all at the Summit tomorrow. Thank you very much.