Tag Archives: China

     â€‹The Department of Health (DH) today (June 16) organised the first workshop to provide guidance and share good practices and real-life experiences on submitting applications under the “1+” mechanism with the pharmaceutical industry and relevant stakeholders. The DH aims to work with the pharmaceutical industry to achieve the goals of early consultation to enhance quality and efficiency throughout the process so that registration approval can be expedited, thereby bringing more good drugs for use in Hong Kong.

     “The Chief Executive’s 2024 Policy Address” announced that a consultation service for new drug applications (NDAs) under the “1+” mechanism would be introduced to enhance the efficiency in processing relevant applications. The consultation service comprises three components, including briefing seminars, workshops and pre-NDA meetings. The first workshop held today attracted over 90 participants from local pharmaceutical and consultancy companies.

     Additionally, since March of this year, the DH has organised four briefing seminars to brief the trade and stakeholders on the basic requirements and procedures for Hong Kong drug registration under the “1+” mechanism. These seminars have attracted approximately 200 representatives from pharmaceutical companies, consultancy firms and research institutes, etc, in and outside of Hong Kong. The response from the trade was very positive and the DH will continue to organise workshops and briefing seminars from time to time. The next briefing seminar is scheduled for August 12 and online registration is open. The materials of the briefing seminar have been uploaded to the thematic webpage on the “1+” mechanism for the trade’s reference.

     As for one-on-one pre-NDA meetings with potential applicants under the “1+” mechanism, the DH will launch them in the fourth quarter of this year as planned. As the trade gains a better understanding of the application process through the briefing seminars and workshops, the pre-NDA meetings will greatly improve the quality of the application documents and hence the processing efficiency. Details of the arrangements of the pre-NDA meetings will be announced in due course.

     The Hong Kong Special Administrative Region Government implemented the “1+” mechanism on November 1, 2023, and has extended it to all new drugs from November 1, 2024, including all new chemical or biological entities and new indications, and vaccines and advanced therapy products. Under the “1+” mechanism, new drugs which are supported by local clinical data and recognised by local relevant experts can be applied for registration in Hong Kong by submitting approval from the drug regulatory authority of one of the reference places (instead of two in the past).

     The “1+” mechanism serves to attract more new drugs from different parts of the world seeking approval for registration in Hong Kong, giving patients more choices and further strengthening the local capacity for drug evaluation while enhancing the development of relevant software, hardware and expertise with a view to progressing towards “primary evaluation”. Since its implementation, registration of a total of 11 new drugs has been approved under this mechanism. These included five new drugs (including two drugs for treating colorectal cancer, one for treating paroxysmal nocturnal hemoglobinuria, and two for treating secondary hyperparathyroidism and certain hypercalcaemia) that have already been approved for listing on the Hospital Authority Drug Formulary, facilitating more good drugs for use in Hong Kong.
 
     Meanwhile, the Government will expedite the reform of the approval mechanism for drugs and medical devices, including announcing the timetable for establishing the Hong Kong Centre for Medical Products Regulation and a roadmap towards “primary evaluation” very soon, aiming to spur the growth of new industries in pharmaceutical and medical device research and development and testing.

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     The Chief Secretary for Administration, Mr Chan Kwok-ki, today (June 16) chaired the second meeting of the fourth-term Human Resources Planning Commission.

     At the meeting, Mr Chan, also the Chairman of the Committee on Education, Technology and Talents (CETT), introduced the CETT’s work to the members. The Chief Executive announced in the 2024 Policy Address the establishment of the CETT, which is responsible for co-ordinating cross-bureau efforts to drive technological innovation, industrial innovation and the co-ordinated development of human resource supply and demand on the basis of strategic positioning and advantages of the “eight centres”, while flexibly bringing in and gathering specialised talent from various sectors to build an international hub for high-calibre talent for contributing to the high-quality development of the country and the building of a strong nation. Members exchanged views on how to advance the integrated development of education, technology and talent, and expressed their continued support for the relevant work of the CETT.

     The Education Bureau (EDB) at the meeting introduced to members the work on promoting the development of universities of applied sciences (UAS). In pursuance of the strategy to develop vocational and professional education and training (VPET) through fostering industry-institution collaboration and diversified development, the EDB announced in February 2024 the criteria for qualifying as a UAS and allocated a start-up fund of $100 million to support the establishment of the Alliance of UAS (the Alliance) in November of the same year, with a view to promoting the development of UAS in Hong Kong. The Hong Kong Metropolitan University and Saint Francis University went through stringent procedures last year and successfully became the first two UAS in Hong Kong. Members supported the Government’s continued efforts in promoting the innovative development of VPET, and provided opinions on the relevant work and work plan of the Alliance.
      
     In addition, the Security Bureau also briefed members on the measures to facilitate the southbound and northbound two-way flow of Mainland and Hong Kong high-end talent, which include exit endorsements for talent and business visits to enable Mainland residents to travel to Hong Kong, as well as multiple-entry visas and the Mainland Travel Permit for Hong Kong and Macao Residents (non-Chinese Citizens) to benefit non-Chinese Hong Kong residents travelling to the Mainland. Members were pleased to note that these measures would enhance the Guangdong-Hong Kong-Macao Greater Bay Area (GBA)’s strategic planning on the mobility of talent and expedite the development of a talent hub in the GBA, fully reflecting Hong Kong’s distinctive advantages of being closely connected to the world with the strong support of the motherland under the “one country, two systems” framework. 
      
     Members were also briefed by the Labour and Welfare Bureau on the arrangements for admission of professionals of specified skilled trades to Hong Kong. The new arrangements, formulated under the CETT’s steer, allows young and experienced non-degree professionals to apply for entry into Hong Kong under the General Employment Policy and the Admission Scheme for Mainland Talents and Professionals to join eight skilled trades facing acute manpower shortages. Applicants are required to be non-degree professionals meeting the relevant qualifications as specified in the Technical Professional List, and be aged between 18 and 40. The new channel will accept applications starting June 30 for a period of three years, with an overall quota of 10 000, with the quota for each skilled trade limited to 3 000. Members welcomed the new arrangements, and anticipated that this measure would effectively address the shortage of mid-level technical professionals and inject new impetus into the relevant trades.

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     ​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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     The Commerce and Economic Development Bureau (CEDB) today (June 16) alerted members of the public to be on heightened vigilance against online deceptive advertisements purported to be interviews with the Secretary for Commerce and E… read more

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