Author Archives: hksar gov

     Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the HKGCC Chinese New Year Dinner 2025 today (February 13):
 
Agnes (Chairman of the Hong Kong General Chamber of Commerce, Ms Agnes Chan), Commissioner Pan Yundong (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region (HKSAR)), Deputy Director-General Zhou Qiang (Deputy Director-General of the Economic Affairs Department and Head of the Commercial Office of the Liaison Office of the Central People’s Government (LOCPG) in the HKSAR), Deputy Director-General Xu Xiaolin (Deputy Director-General of the Coordination Department of the LOCPG in the HKSAR), distinguished guests, ladies and gentlemen,
 
     Good evening. It gives me great pleasure to join you all tonight. This festive occasion gives us a time to reflect on the past year and look forward with hope to the new one.
 
     In 2024, Hong Kong demonstrated to the world our resilience in times of uncertainties. Our city is ranked as the world’s third-largest financial centre, the world’s freest economy, and is at the fifth place in the global competitiveness ranking. We now have nearly 10 000 companies from the Mainland and overseas, as well as 4 700 start-ups. Both numbers are the highest that we have ever seen. These are signs of confidence in Hong Kong’s status as a prime business destination.
 
     But challenges will keep coming. In addition to conflicts in Europe and the Middle East, we also need to brace the rapid changes in the operating environment. The United States (US)’ imposition of tariffs will affect many economies and companies. On this, the HKSAR Government strongly disapproves. It rattles the fundamentals of a rule-based multilateral trade system, which took the whole world decades to build. As far as the tariffs on Hong Kong are concerned, we have decided to file a complaint to the World Trade Organization. We have always been a staunch supporter of free trade, and we will continue to hold tight to our beliefs.
 
     Risk management is key to a successful business. I am sure many of you saw the uncertainties coming from years ago. I was told that a lot of companies have already modified their business plans, the supply chains, asset distributions, etc, in anticipation of the changing external environment. I encourage you to continue to do the same.
 
     For Hong Kong, this term of Government attaches a lot of importance to exploring new markets. The US and Europe are traditionally among our largest trading partners, and they will probably continue to be so. We are happy with the businesses that we do with each other, which are mutually beneficial. But more importantly, we must not lose sight of the business potential in other markets. The Association of Southeast Asian Nations (ASEAN), for example, if taken as a bloc, is now Hong Kong’s second-largest trading partners. Other emerging regions, such as the Middle East, are also catching up fast.
 
     In the past two years or so, we have led business delegations to ASEAN and the Middle East. We will continue to do so in the coming year. We will also step up our efforts to forge new trade and investment agreements with rising trading partners. Increasing our trade and investment with new markets will inject new impetus into Hong Kong’s economy. It will also help us mitigate the risks arising from geopolitics.
 
     Looking closer to home, we spare no efforts to drive changes to our economic structure. The Government sees the need to develop silver economy. The growing elderly population in Hong Kong is becoming an important consumer group, creating considerable demand for such products and services as medical and healthcare, leisure and recreation, and home and personal care catered for the elderly. These products and services also enhance the quality of life for the elderly of Hong Kong, which is equally important for us.
 
     We also encourage Hong Kong companies to embrace electronic commerce (e-commerce). This is a global trend in consumption pattern that is irreversible. To help our small and medium enterprises to upgrade their business models, we launched the “E-commerce Easy” under the Dedicated Fund on Branding, Upgrading and Domestic Sales last year to provide funding support. The Hong Kong Trade Development Council, the HKTDC, also organised the first Hong Kong Shopping Festival to showcase consumer products and brands on Mainland e-commerce platforms. The Festival was a huge success. We will organise the second edition this year. The HKTDC will also step up efforts in providing advisory support to enterprises in need when exploring the e-commerce market.
 
     I spent all my life in Hong Kong. In my entire career, I witnessed Hong Kong going through ups and downs. The world today is so different than the world I was in when I was in my twenties. One of Hong Kong’s biggest appeal is the “can-do” spirit of Hong Kong people. We are flexible, adaptive, determined, forward-looking, and we fight hard. We will rise above the challenges and come out on top.
 
     I would like to thank the Hong Kong General Chamber of Commerce for all the good you do to our business community. As we enter the Year of the Snake, let us draw inspiration from its attributes of versatility, intelligence and agility, and work together to build a better future for Hong Kong. I wish you all a year with good health, success and happiness. Thank you. read more

     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, led a delegation to attend the second meeting of the Shenzhen-Hong Kong Financial Co-operation Committee (Committee) in Qianhai, Shenzhen, today (February 13). The meeting echoed the aspirations expressed by the Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council, Mr Xia Baolong, during the discussion session he hosted on Sunday (February 9) for more reciprocal co-operation and collaborative development within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
 
     The meeting was co-chaired by Mr Hui and the Vice-Mayor of the Shenzhen Municipal People’s Government and Director General of the Office of the Financial Affairs Committee of the CPC Shenzhen Municipal Committee, Mr Luo Huanghao.  The Committee discussed the latest developments of the financial markets and financial co-operation initiatives of Shenzhen and Hong Kong. It also explored suggestions on further enhancing the development of a collaborative market.
 
     On collaborations in terms of financial professional services and talent, Mr Hui announced a list of Hong Kong accounting firms capable of supporting Mainland enterprises in “going global”, and expressed his hope that Hong Kong’s high-quality and international professional services could facilitate the high-level opening of the country’s financial markets. The Committee also arranged an experience-sharing session by two Hong Kong students who participated in the GBA Fintech Two-way Internship Scheme for Post-secondary Students to encourage the industry to provide more opportunities for young people from Shenzhen and Hong Kong to foster talent exchanges in the financial realm.
 
     Mr Hui said that Hong Kong and Shenzhen were both core cities and key engines for driving the development of the GBA. It is anticipated that Hong Kong will continue its close collaboration with Shenzhen for co-ordinated development. As Mr Hui said at the discussion session hosted by Director Xia, the further strengthening of co-operation between Hong Kong and the GBA in the areas of financial markets and services would better reinforce national development strategies, thereby contributing to the nation’s development into a financial powerhouse and creating more development opportunities for Hong Kong and the GBA.
 
     Mr Luo said, “The Shenzhen-Hong Kong Financial Co-operation Committee is an important platform for implementing the ‘one country, two systems’ principle and reinforcing Hong Kong’s status as an international financial centre.  Moving forward, favourable policies and connectivity of the financial infrastructure will act as key pillars and help provide breakthroughs for the continuous enhancement to the connectivity of Shenzhen-Hong Kong financial infrastructure.  We will work in co-ordination with Hong Kong in providing financial services for enterprises to “go global”, supporting the efficient flow of capital, credit and data across the boundary.”
 
     Established in June 2024, the Shenzhen-Hong Kong Financial Co-operation Committee brings together official members from the Central Authorities, Shenzhen and Hong Kong, as well as industry leaders in both places as non-official members to provide insights on Shenzhen-Hong Kong financial co-operation and the development of the GBA’s financial infrastructure. The first meeting was held in mid-June last year in Hong Kong.

      

     Police will implement special traffic arrangements to facilitate the 2025 Shenzhen-Hong Kong marathon and the 15th National Games athletics (marathon) test event to be held on February 23 (Sunday). Shenzhen Bay Port —–… read more

     â€‹The Government today (February 13) announced the launch of the HYAB Scheme on Corporate Summer Internship on the Mainland and Overseas 2025 in collaboration with 28 large corporates, providing young people of Hong Kong with quality summer internship placements on the Mainland and overseas to jointly promote youth development.
      
     In the 2024 Policy Address, the Chief Executive emphasised that the Government would sustain its efforts in strengthening support for youth development. This includes continuing to implement various exchange and internship programmes on the Mainland and overseas to encourage young people to gain a deeper understanding of national development and global development trends. In this regard, the Home and Youth Affairs Bureau forged partnerships with large corporates to launch the HYAB Scheme on Corporate Summer Internship on the Mainland and Overseas to provide internship placements at the corporates’ Mainland and overseas operations, with the aim of cultivating a cohort of young talent with a good understanding of the country’s development and a global perspective. The Scheme provides young people with exposure to the work culture in large corporates in different parts of the world, and an opportunity to establish interpersonal networks outside Hong Kong, enabling them to seize national development opportunities.
      
     The number of companies participating in the new round of the Scheme has increased to 28, and internship placements are offered in multiple Mainland provinces and cities, including various Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area, Beijing, Shanghai, Chengdu and Hangzhou, as well as overseas countries including Indonesia, Malaysia, Singapore, Thailand and Australia. The internship placements cover different industries, such as financial services, innovation and technology, logistics, property development, construction, retail, hospitality, entertainment and utilities (please refer to Annex for details of the internship placements). Applicants should be (i) a full time post-secondary student (including sub-degree, undergraduate, or postgraduate) holding a Hong Kong permanent identity card; or (ii) a local full-time post-secondary student (including sub-degree, undergraduate, or postgraduate) holding a Hong Kong identity card. The internship will take place between June and September this year. Participating companies will sponsor the interns for major expenses including transportation and accommodation costs, and assign dedicated personnel to provide training and support to the interns.
      
     Details of the Scheme and internship placements are available on the dedicated webpage (www.ydc.gov.hk/scsi/en). Interested young people should submit their applications through the centralised application platform on the dedicated webpage on or before March 10. Each person can apply for up to three companies in one application. Upon receiving the applications, participating companies will contact suitable applicants directly for the assessment and selection process, and make placement arrangements for selected interns. read more

     â€‹The Food and Environmental Hygiene Department (FEHD) today (February 13) announced that the monthly gravidtrap index for Aedes albopictus mosquitoes in January dropped further, to 0.2 per cent from 0.7 per cent in Decem… read more