Tag Archives: China

     The Digital Policy Office (DPO) held its 20th Technology Forum at the Hong Kong Productivity Council (HKPC) today (September 13). The forum, with the theme “Adopting Innovative Technologies to Cope with Cybersecurity Threats”, was held in hybrid mode and attracted about 900 colleagues from nearly 100 government departments and public organisations.

     The Commissioner for Digital Policy, Mr Tony Wong, introduced at the forum the 2024 Cybersecurity Awareness Campaign jointly organised by the DPO and the industry to echo the China Cybersecurity Week. The Campaign seeks to raise cybersecurity awareness among the general public and different sectors of the community, and enhance the cybersecurity of society through a series of activities such as exhibitions, technology seminars, and learning resources.

     Mr Wong said, “With cyber attacks getting more and more severe, our defence must be kept abreast of the times by introducing multidimensional and diversified technological measures. In dealing with the cyber attacks, we also need to develop from a static, passive defence to dynamic, proactive detection.”

     Mr Wong expressed that the DPO has implemented a series of new measures to step up the self-monitoring role of government bureaux and departments (B/Ds) as well as public bodies under B/Ds’ purview in information technology (IT) system development, service delivery and safeguarding of information security. The DPO will also actively increase independent cyber security tests for large-scale and high-risk IT projects, as well as carry out regular vulnerability inspections, penetration tests, surprise checks, in-depth compliance audits, and enhance cybersecurity awareness and technology know-how of Government personnel. Such measures aim at more effectively protecting information systems and data security to provide a sturdy basis for expediting the development of a digital government.  

     At the forum, a number of technology enterprises were invited to share information and exchange ideas about their technologies, offering an opportunity for government departments and public organisations to learn more about the latest trends of cybersecurity and related technology products and solutions, as well as ways to consolidate a defence against cyber threats by effectively adopting innovative technologies.

     The Technology Forum held today was organised by the Smart Government Innovation Lab (Smart Lab) under the DPO in collaboration with the HKPC, Hong Kong Cyberport and the Hong Kong Science and Technology Parks Corporation. Since its establishment in 2019, the Smart Lab has been actively connecting government departments with the innovation and technology sector, particularly local start-ups and small and medium-sized enterprises, to foster a close partnership between the two sides. The Smart Lab regularly organises different promotional activities, including technology forums and technology exchange workshops for government departments and the industry, with a view to encouraging and helping government departments to introduce and apply innovative technology products and solutions, which could in turn facilitate more business matching, achieving a win-win situation.

     The technology forums have so far attracted over 8 000 participants from nearly 700 public and private organisations, enterprises and government departments. For more details, please visit the thematic website of the Smart Lab (www.smartlab.gov.hk/en/).

      

    The Immigration Department (ImmD) mounted a series of territory-wide anti-illegal worker operations codenamed “Lightshadow” and “Twilight”, and a joint operation with the Hong Kong Police Force and the Labour Department codenamed “Powerplayer”, for four consecutive days from September 9 to yesterday (September 12). A total of 22 suspected illegal workers, five suspected employers and three overstayers were arrested.

     During the anti-illegal worker operations, ImmD Task Force officers raided 34 target locations including premises under renovation and restaurants. Six suspected illegal workers were arrested. The arrested suspected illegal workers comprised five men and one woman, aged 23 to 44. Among them, two men were holders of recognisance forms, which prohibit them from taking any employment.
 
     During operation “Powerplayer”, enforcement officers raided 100 target locations in the Central, Eastern, Wan Chai and Western districts including car parks, food stalls, massage parlours and restaurants. Sixteen suspected illegal workers, five suspected employers and three overstayers were arrested. The arrested suspected illegal workers comprised seven men and nine women, aged 19 to 57. Among them, three men and three women were holders of recognisance forms, which prohibit them from taking any employment. In addition, one man and two women were suspected of using and being in possession of forged Hong Kong identity cards. Five men, aged 35 to 68, were suspected of employing the illegal workers and were also arrested. Among them, 10 suspected illegal workers, three suspected employers and three overstayers were handled by the ImmD.

     An ImmD spokesman said, “Any person who contravenes a condition of stay in force in respect of him or her shall be guilty of an offence. Also, visitors are not allowed to take employment in Hong Kong, whether paid or unpaid, without the permission of the Director of Immigration. Offenders are liable to prosecution and upon conviction face a maximum fine of $50,000 and up to two years’ imprisonment. Aiders and abettors are also liable to prosecution and penalties.”

     The spokesman warned, “As stipulated in section 38AA of the Immigration Ordinance, an illegal immigrant, a person who is the subject of a removal order or a deportation order, an overstayer or a person who was refused permission to land is prohibited from taking any employment, whether paid or unpaid, or establishing or joining in any business. Offenders are liable upon conviction to a maximum fine of $50,000 and up to three years’ imprisonment. Under the prevailing laws, it is an offence to use or possess a forged Hong Kong identity card. Offenders are liable to prosecution and upon conviction face a maximum fine of $100,000 and up to 10 years’ imprisonment.”

     The spokesman reiterated that it is a serious offence to employ people who are not lawfully employable. Under the Immigration Ordinance, the maximum penalty for an employer employing a person who is not lawfully employable, i.e. an illegal immigrant, a person who is the subject of a removal order or a deportation order, an overstayer or a person who was refused permission to land, has been significantly increased from a fine of $350,000 and three years’ imprisonment to a fine of $500,000 and 10 years’ imprisonment to reflect the gravity of such offences. The director, manager, secretary, partner, etc, of the company concerned may also bear criminal liability. The High Court has laid down sentencing guidelines that the employer of an illegal worker should be given an immediate custodial sentence.

     According to the court sentencing, employers must take all practicable steps to determine whether a person is lawfully employable prior to employment. Apart from inspecting a prospective employee’s identity card, the employer has the explicit duty to make enquiries regarding the person and ensure that the answers would not cast any reasonable doubt concerning the lawful employability of the person. The court will not accept failure to do so as a defence in proceedings. It is also an offence if an employer fails to inspect the job seeker’s valid travel document if the job seeker does not have a Hong Kong permanent identity card. Offenders are liable upon conviction to a maximum fine of $150,000 and to imprisonment for one year. In that connection, the spokesman would like to remind all employers not to defy the law by employing illegal workers. The ImmD will continue to take resolute enforcement action to combat such offences.

     Under the existing mechanism, the ImmD will, as a standard procedure, conduct an initial screening of vulnerable persons, including illegal workers, illegal immigrants, sex workers and foreign domestic helpers, who are arrested during any operation with a view to ascertaining whether they are trafficking in persons (TIP) victims. When any TIP indicator is revealed in the initial screening, the ImmD officers will conduct a full debriefing and identification by using a standardised checklist to ascertain the presence of TIP elements, such as threats and coercion in the recruitment phase and the nature of exploitation. Identified TIP victims will be provided with various forms of support and assistance, including urgent intervention, medical services, counselling, shelter or temporary accommodation and other supporting services. The ImmD calls on TIP victims to report crimes to the relevant departments immediately.

    

     Following is the speech by the Financial Secretary, Mr Paul Chan, at the HKAWL Legacy Summit Fall Edition today (September 13):
      
Adrian (Chairman of Hong Kong Academy for Wealth Legacy, Dr Adrian Cheng), distinguished guests, ladies and gentlemen,
      
     Good afternoon. I am delighted to join this Fall Edition of the Legacy Summit organised by the Hong Kong Academy for Wealth Legacy.  
      
     Let me first join Adrian to extend a very warm welcome to all our guests coming from the ASEAN (Association of Southeast Asian Nations) countries and beyond.
      
     I’m sure this gathering, featuring insightful panel discussions and dialogues on the governance and investment strategies of family businesses and family offices, will enrich our perspectives and inspire new thoughts on how family offices like yours may thrive. 
      
     The global growth of family offices is evident, with Asia emerging as both a source of family offices and a destination of their investments. Some estimates suggest that 42 per cent of global wealth resides in Asia. In fact, according to a UBS Report released earlier this year, more than a third of the family offices worldwide intend to boost their asset allocation in the Asia-Pacific region in the next five years.
      
     Hong Kong is committed to fostering a vibrant ecosystem for family offices. We host around 2 700 single family offices in the city, over half of which manage assets of over US$50 million. And we are working to attract more.   
      
     Hong Kong’s strategic location and unique value proposition make it an ideal gateway for family offices looking to capture the opportunities in this part of the world. Under the “one country, two systems” arrangement, we practise common law, with a judiciary exercising powers independently; maintain the free flow of capital, talent, goods and information, and a freely convertible currency pegged to the US dollar; we adhere to the best international business practices. Together with our proximity to rapidly growing Asian markets, a robust regulatory framework, a rich talent pool, an open and multicultural environment, rich cultural offerings and top class education, we are attracting investors and executives from near and far. 
      
     Hong Kong also offers a competitive tax regime for family offices. We have no sales taxes, no value-added tax, no capital gains taxes, no estate duties, no taxes on dividends or interest earned, and no withholding tax on investments. Simply put, doing business in Hong Kong is not a taxing situation at all. 
      
     To facilitate the activities of family offices, we have also put in place tax concessions for family-owned investment holding vehicles managed by single family offices in Hong Kong.
      
     Most, if not all, family offices aim for more than just financial returns. Having met many family principals and executives in person, I understand how deeply you care about the collective good of our society and the well-being of our planet. You are keenly interested in making impact investments. Globally, 44 per cent of family offices are taking sustainability or impact into account in their liquid investment portfolios, while 45 per cent are making direct investments in green tech or other sustainability-related ventures. However, Asia receives just 14 per cent of global impact investments.
      
     Yes, each of you holds a unique position of influence and power to drive positive change through your philanthropic endeavours. It is about leaving a lasting legacy, making a tangible difference in the world, and shaping a better future for generations to come. Here in this city, international foundations, charitable organisations, and NGOs gather, forming a vibrant philanthropy network. We are committed to partnering with you to advance this worthy cause.
      
     In this connection, I’m pleased to note that the Academy will launch the “Impact Link” later this year, which will serve as a dynamic repository platform of high-potential and high-social impact charitable programmes accessible to philanthropists from around the world. For this, I extend my gratitude to the Academy, and our partners at home and from abroad, for delivering this project.
      
     Ladies and gentlemen, with our institutional advantages, favourable government policies, a vibrant asset and wealth management sector, talent, lifestyle, and an extensive philanthropic network and projects, Hong Kong stands as the premier platform to realise your aspirations and legacies.   
      
     I would like to thank the Hong Kong Academy for Wealth Legacy for hosting this Summit. I wish you all a rewarding event and the best of health and business in the years to come. Thank you very much.

    

     The Hong Kong Special Administrative Region Government released today (September 13) the Green Bond Report 2024, which sets out, among others, the allocation of the proceeds raised from green bond issuances and the expected environmental benefits of the projects financed. The Government has thus far issued green bonds totaling close to an equivalent of HK$220 billion, funding various green projects in Hong Kong and providing important benchmarks for potential issuers.
 
     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “The Green Bond Report 2024 provides comprehensive information on the green projects funded by the Government Sustainable Bond Programme, demonstrating to investors the actual contributions brought by their investments in green bonds to sustainable development. These include, for example, alleviating the risk of flooding by adapting to climate change, and including environmentally friendly features in green buildings. Public awareness of the development of green finance is also enhanced.
 
     “We will continue to, through such measures as integrating green finance with fintech and providing a transparent and well-defined pathway on sustainability reporting for businesses in Hong Kong, consolidate Hong Kong’s position as a regional and international green and sustainable finance hub, and drive and support enterprises in green transformation.”
 
     The proceeds raised by the Government through issuances of green bonds have been fully allocated or earmarked for green projects, including the North East New Territories Sewerage System Upgrade, Redevelopment of Prince of Wales Hospital, Phase 2 (Stage 1), Yuen Long Barrage Scheme, and Improvement of Yuen Long Town Nullah (Town Centre Section).
 
     Since the inaugural green bond issuance in 2019, the Government has been providing information on the allocation of the green bond proceeds through a Green Bond Report released on an annual basis, with an independent and qualified third party engaged to assure the contents of the Report. The Green Bond Report 2024 is the Government’s fifth Green Bond Report.
 
     The Green Bond Report 2024 has been uploaded to the Government Bonds website at www.hkgb.gov.hk/en/greenbond/greenbondreport.html. read more

     Owing to the thunderstorm warning, the flag-lowering ceremony to be conducted at Golden Bauhinia Square, Wan Chai at 6pm today (September 13) will be cancelled.      If the thunderstorm warning is cancell… read more