Tag Archives: China

     Following is a question by the Hon Luk Chung-hung and a written reply by the Secretary for Environment and Ecology, Mr Tse Chin-wan, in the Legislative Council today (March 26):
 
Question:
 
     Some organisations have reportedly found that the current disciplinary inquiry system of the Veterinary Surgeons Board of Hong Kong (VSB) is not well-established, lacks sufficient transparency in information disclosure, and has unclear regulatory oversight of general sales and services within veterinary clinics. In this connection, will the Government inform this Council:
 
(1) whether, with reference to the Medical Council of Hong Kong’s practice of posting on its website the judgments of its disciplinary inquiries held since July 2, 2008 and the Dental Council of Hong Kong’s practice of posting on its website the judgments of its disciplinary inquiries handed down since September 17, 2009, it has considered extending the enquiry period for the judgments of the disciplinary inquiries conducted by the VSB’s Inquiry Committee and the orders made by it, as well as including the names of the veterinary surgeons involved in the relevant case summaries; if so, of the implementation timetable; if not, the reasons for that;
 
(2) given that in reply to a question raised by a Member of this Council on the Estimates of Expenditure 2024-2025, the Secretary for Environment and Ecology stated that the VSB’s Inquiry Committee had completed 36 inquiry cases between 2021 and 2023, of which 29 were found to be substantiated, involving 30 veterinary surgeons, but that only two of these veterinary surgeons had been sanctioned with “removal of names of relevant veterinary surgeons from the register for three and six months respectively, along with a reprimand and compulsory participation in continuing professional development programmes or professional seminars”, and it is learnt that many pet owners consider such sanctions to be dissuasive, whether the Government will review the VSB’s existing arrangements for handing down judgments in disciplinary inquiries and consider imposing heavier penalties; if so, of the details; if not, the reasons for that;
 
(3) given that item 22 of Schedule 3 to the Trade Descriptions Ordinance (Cap. 362) (the Ordinance) provides that a registered veterinary surgeon, as defined by section 2 of the Veterinary Surgeons Registration Ordinance (Cap. 529), is an exempt person under the Ordinance, and yet it is learnt that some pet owners have pointed out that veterinary assistants often promote nutrition supplements, pet food, over-the-counter drugs (such as deworming drugs), and medicinal fur cleaners, etc. to them while their pets are undergoing treatment at veterinary clinics, and that some veterinary clinics even promote pet accessories on online social media platforms, coupled with the view that the general conduct of sales within veterinary clinics should be regulated under the Ordinance, whether the Government has considered regulating the general conduct of sales and services within veterinary clinics; if so, of the details; if not, the reasons for that; and
 
(4) whether the Government has considered collaborating with relevant Mainland departments to enable local veterinary surgeons to acquire Mainland professional qualifications through agreements for mutual recognition of professional qualifications or professional qualification examinations under the framework of the Mainland and Hong Kong Closer Economic Partnership Arrangement?

Reply:
 
President,
 
     The Veterinary Surgeons Board of Hong Kong (VSB) is a statutory body established under the Veterinary Surgeons Registration Ordinance (Cap. 529) (the Ordinance), and is responsible for the regulation, registration and disciplinary control of veterinary surgeons, to ensure a high standard of veterinary services in Hong Kong. All veterinary surgeons must comply with the Ordinance and Code of Practice for the Guidance of Registered Veterinary Surgeons (the Code) promulgated by the VSB. The Code provides veterinary surgeons with guidelines on various aspects of conduct, including professional ethics, clinic premises and equipment, advertising and other operational details, etc. If a veterinary surgeon breaches the Code, the VSB may take disciplinary actions against the surgeon.

     Having consulted the Commerce and Economic Development Bureau, the reply to the question from the Hon Luk Chung-hung is as follows:

(1) The VSB currently publishes on its website Orders made by Inquiry Committee within one year with names, and the Findings of Disciplinary Inquiries within three years on an anonymous basis. Moreover, all Orders are published in the Gazette and in one English and one Chinese newspaper circulating in Hong Kong as required by law. In response to the Government’s earlier suggestion on reviewing the existing arrangements with reference to the practices of other professional regulatory bodies, the VSB is considering extending the time for publishing Orders and Findings on its website.

(2) The VSB handles the complaints received in accordance with the complaint mechanism and disciplinary procedures provided under the Ordinance and the Rules of the Veterinary Surgeons Board (Disciplinary Proceedings). To ensure fairness and transparency of the disciplinary procedures, lay persons who represents the interests of persons utilizing veterinary services (e.g. members of animal welfare organisations or tertiary institutions) or medical and health professionals are involved in the handling of complaints by the VSB’s Preliminary Investigation Committee and Inquiry Committee, and the public can also observe the disciplinary hearings. The Inquiry Committee takes into account a number of factors in determining the judgment and penalty, including the seriousness of the case, the character, antecedents and disciplinary record of the veterinary surgeon involved (if any), and the reasons for mitigation (if any), etc., to make an appropriate disciplinary order. To further enhance the disciplinary mechanism, the VSB is considering the feasibility of drawing up guidelines on disciplinary sanctions.

(3) According to Schedule 3 to the Trade Descriptions Ordinance (Cap. 362), a registered veterinary surgeon is an exempt person, which refers that the acts in the capacity of his or her profession are exempted from being regulated by the “fair trading sections” of the Trade Descriptions Ordinance. However, sections 4 and 5 of such Ordinance about the requirement of the provision of information in relation to goods, and section 7 about trade descriptions of goods applied in the course of any trade or business remain applicable.
 
     For persons who are not registered veterinary surgeons (including veterinary assistants), if they are suspected of engaging in unfair trade practices in the course of selling pet nutritional supplements, food and other supplies at veterinary clinics or through online platforms, the Customs and Excise Department may take enforcement actions pursuant to the Trade Descriptions Ordinance. Offenders may be prosecuted, and are liable to a maximum penalty of imprisonment for five years and a fine of $500,000.

     Moreover, the Code stipulates that veterinary surgeons have the responsibility to supervise and ensure persons who are not registered veterinary surgeons engaged in merchandising are adequately trained to advise clients on directions for use of the products sold and to judge when the client should receive the personal attention of the veterinary surgeon; and the display and sale of goods are such as not to diminish the public’s confidence in the scientific integrity and impartiality of the profession, or damage relationships between the profession and the public. If persons who are not registered veterinary surgeons fail to meet the standards expected of the profession, the registered veterinary surgeon responsible for supervision may be regarded as committing professional misconduct or neglect, and members of the public may lodge a complaint with the VSB in respect of such professional misconduct or neglect.

(4) Under the Mainland and Hong Kong Closer Economic Partnership Arrangement Agreement on Trade in Services (Agreement), eligible Hong Kong residents may apply in the Guangdong Province to take the qualification examination for veterinary practitioners in the whole Mainland, and a corresponding qualification certificate will be issued to those passing the examination. The Agreement also allows Hong Kong residents who have obtained the qualification as national practising Licensed Veterinarians to practise on the Mainland. The Government will continue to liaise with the trade to understand their demand for practising on the Mainland. read more

     Following is a question by the Hon Martin Liao and a written reply by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, in the Legislative Council today (March 26):

Question:

     On developing Hong Kong into an international innovation and technology centre, will the Government inform this Council:
 
(1) as there are views pointing out that there is more than sufficient room for trial and error for start-ups in Hangzhou, including a failure-‍tolerant institutional design at the policy level, government subsidies for research and development (R&D) and a science and technology innovation fund on the funding front, and multi-capital in the market to patiently accompany their growth, whether the Innovation and Technology Industry-Oriented Fund set up by the Hong Kong Special Administrative Region (HKSAR) Government will formulate reference guidelines to increase the weighting of multi-dimensional indicators, such as innovative capability, growth potential and R&D intensity of enterprises, when guiding patient capital investments;

(2) as there are views that Hangzhou’s continuous progress in implementing “one visit at most” service is a result of Mainland departments streamlining administration and delegating power, as well as deepening reforms of the administrative vetting and approval system, whether the SAR Government will draw on Hangzhou’s administrative and entrepreneurial experience to conduct a comprehensive review of the efficiency and quality of the services provided by government departments, including the speed of vetting and approving applications for supporting funds and the efficiency of resource docking, and urge the relevant government departments and public organisations to formulate guidelines to enhance efficiency; if so, of the details; if not, the reasons for that;

(3) as the 2025-2026 Budget proposes to establish the Hong Kong AI Research and Development Institute, with the expansion of application scenarios being one of its focuses, and as there are views that industry-specific vertical large models can promote “Artificial Intelligence (AI) Plus” and empower various industries on the condition of vertical large models being integrated with industry-‍specific data and knowledge, what plans the Government has put in place to mobilise the innovative power of enterprises and guide leading enterprises, small and medium enterprises, data service providers, etc. to step up the supply of high-quality industry-specific data elements; and

(4) as it is learnt that Hangzhou and its surrounding regions are able to provide start-ups with comprehensive industrial chain support (e.g.‍ Deepseek’s industrial chain is entirely based in Hangzhou, while Hangzhou Yushu Science And Technology Co., Ltd. relies on the resources of Hangzhou and two of its neighbouring cities, namely, Yiwu and Shanghai), what measures the SAR Government has put in place to promote co-operation with other Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area in terms of resources for the AI industry in order to improve the AI industrial chain?

Reply:

President,

     In respect of the question raised by the Hon Martin Liao, my reply is as follows:
 
(1) The Innovation, Technology and Industry Bureau and the Innovation and Technology Commission are currently preparing for setting up the $10 billion Innovation and Technology Industry-Oriented Fund (ITIF) to channel more market capital to invest in emerging and future industries of strategic importance. According to our current plan, the ITIF will cover five thematic areas, and one or more sub-fund(s) will be set up under each thematic area. Each sub-fund will have a fund duration of up to 12 years, fully realising the characteristics of patient capital which focuses on long-term investments with a higher risk tolerance. This will contribute to the on-going support for the growth, expansion and maturity of the innovation & technology (I&T) industry.

     The Government will participate as a Limited Partner of the sub-funds and make contributions to each. Fund managers selected through an open application will become General Partners of the sub-funds and shall be responsible for setting up the sub-funds in the form of a limited partnership fund. They shall also raise market capital for the sub-funds, manage the daily operation of the sub-funds, as well as invest in suitable projects in accordance with the investment framework.
      
     Based on a market-oriented operation, we hope that fund managers will leverage their professional investment capabilities to identify I&T enterprises of high potential, conduct comprehensive evaluations, and make reasonable investment decisions in compliance with relevant investment requirements. This will provide appropriate financial support to I&T enterprises and promote the long-term development of the related industries.
 
(2) The Digital Policy Office (DPO) is committed to driving various bureaux/departments (B/Ds) in the adoption of I&T to enhance operational efficiency and improve public services. The DPO also provides advice and consultancy services to various B/Ds in areas such as digital technology and innovative technology applications, data sharing, business process re-engineering, design thinking, change management, etc., with a view to accelerating the development of digital government, thereby continuously enhancing government efficiency and service quality.

     In respect of promoting e-government services, all licences and government services involving application and approval (about 1 480 items in total) and forms (over 3 800) have been fully digitalised by mid-2024, i.e. enabling submission of application, payment and collection of documents by electronic means for relevant licences and services. If in-person submission or collection of documents is required by law or international practice, applicants will only need to visit relevant government offices no more than once.
     
     In 2024-25, through the “Be the Smart Regulator” and “Streamlining of Government Services” programmes, the DPO worked with 47 B/Ds in proposing some 180 business facilitation and streamlining measures for about 400 licences and services, such as obviating the need for businesses and general public to submit information repeatedly for their licence and government service applications by leveraging cross-departmental data exchange, and shortening the time required for handling and approving applications by automating the verification processes, etc.

     In addition, B/Ds are rolling out over a hundred of digital government and smart city initiatives progressively, including the application of artificial intelligence (AI) and chatbot technologies to improve government hotline services; application of data analytics, geospatial analysis and visualisation dashboard technologies to improve service management; and adoption of video analytics to enhance security surveillance at public cargo working areas.

(3) High-quality data are essential for promoting the training of large language models (LLMs), research and development (R&D) of industry-specific vertical LLMs, and industry applications. The Government has all along been implementing the open data policy and actively encouraging public and private organisations to open up more data for innovative applications by the industries. Currently, the Open Data Portal has published over 5 500 datasets, covering various industries and sectors including finance, education, transportation, community and social welfare, law and security, etc. The Common Spatial Data Infrastructure has also published over 1 000 spatial datasets, covering different aspects such as planning, lands, buildings, transport. These two platforms help the industry develop more and better industry-specific vertical LLMs and innovative solutions by leveraging the datasets and integrating them with LLMs, industry data and technologies available in the market. Meanwhile, the facilitation measure on the “Standard Contract for the Cross-boundary Flow of Personal Information Within the Guangdong-Hong Kong-Macao Greater Bay Area (Mainland, Hong Kong)” has been extended to all industries to further promote more cross-boundary services to benefit the public and businesses, while facilitating data flow in the Greater Bay Area (GBA) and expediting the development of digital economy and smart city.

     In addition, the Hong Kong Artificial Intelligence Research and Development Institute, to be established as announced by the 2025-26 Budget, will also spearhead and support Hong Kong’s innovative R&D and industrial application of AI, and facilitate upstream R&D, midstream and downstream transformation of R&D outcomes and application scenarios of AI.
 
(4) The Government has been co-ordinating and promoting the development and application of information and communications technology, including AI, with Guangdong through the Hong Kong/Guangdong Expert Group on Co-operation in Informatisation (EGCI). The EGCI will strengthen the co-operation between Guangdong and Hong Kong in AI R&D, outcome transformation and application development, and implement co-operation initiatives to complement the development of the GBA into an international technology innovation centre.
 
     Besides, the two I&T flagships in Hong Kong (viz. the Hong Kong Science and Technology Parks Corporation and Cyberport) have been actively expanding their partnership network in the GBA to assist enterprises in respective technology parks to expand their businesses in the GBA and attract enterprises in the region to set up operations in the parks. Taking Qianhai as an example, Cyberport signed a co-operation agreement with the Qianhai Authority in January 2021 and deepened the co-operation agreement in August 2024. So far, two enterprises from Qianhai have settled in Cyberport, including one focusing on AI animation production. In addition, about 10 Cyberport enterprises are exploring to set up businesses in Qianhai, and nearly half of them are related to AI including start-ups that apply AI in education technology, e-commerce and insurance technology. On the other hand, the Hong Kong Science Park Shenzhen Branch commenced operation in 2023 to enable institutes and enterprises interested in starting their business in the GBA to establish a presence there. As of December 2024, a total of 58 enterprises and R&D centres were admitted, with approximately 40 of them involved in AI-related businesses.

     The Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone is one of the major co-operation platforms in the GBA. The Hong Kong Special Administrative Region Government promulgated the Development Outline for the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (the Development Outline) in November 2024, setting out the vision and mission, planning, development directions, strategies and targets of the Hong Kong Park. As set out in the Development Outline, the Hong Kong Park will focus on the development of core frontier technological fields including AI; strengthen the supporting infrastructure required for the development of AI technologies; and establish a cross-boundary data flow management mechanism, so as to attract Mainland and overseas enterprises engaging in AI to the Loop to set up and expand their businesses therein. read more

     Following is a question by the Hon Jeffrey Lam and a written reply by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, in the Legislative Council today (March 26):

Question:

     Last month, an information security incident occurred in Invest Hong Kong (InvestHK) in which its computer systems were attacked by malicious ransomware, affecting its internal Customer Relationship Management system, intranet, website operations, etc. Regarding the occurrence of cybersecurity incidents in government departments and public organisations, will the Government inform this Council:

(1) of the following information on malicious ransomware attacks on government departments and public organisations in the past three years: (i) the number of cases, (ii) the government departments and public organisations involved, (iii) the number of cases involving leakage of personal, customer or internal data, and (iv) the number of culprits arrested in connection with such cases;

(2) given that Hong Kong is actively attracting businesses and talents, whether the Government has received public complaints or enquiries about the aforesaid information security incident of InvestHK; if so, of the number; whether the Government has assessed if the information security incident has dampened investors’ confidence in the information security of InvestHK, or even investors’ interest in investing in Hong Kong; and

(3) of the measures the Government has put in place to strengthen the security of the computer and information systems of government departments and public organisations, and the expected time for conducting a review of the effectiveness of such measures, so as to continuously ensure the security of the relevant systems of such departments and organisations?

Reply:

President,

     In respect of the question raised by the Hon Jeffrey Lam, having consolidated the information provided by the Security Bureau and the Commerce and Economic Development Bureau, my reply is as follows:

(1) According to the Government Information Technology Security Policy and Guidelines, when an information technology (IT) security incident occurs, the concerned bureaux and departments (B/Ds) must report it to the Government Information Security Incident Response Office under the Digital Policy Office (DPO), and notify the Office of the Privacy Commissioner for Personal Data (PCPD) and/or the Police depending on the nature of the incident.

     In 2022, 2023 and 2024, the DPO received 5, 3 and 2 incident reports respectively that involved ransomware attack of government IT systems. None of these incidents resulted in any data leakage. In view of the nature of the incidents, the sensitivity of the information and security considerations, the departments concerned considered it as inappropriate to publish relevant details, in order not to increase the risk of malicious intrusion into government systems. Upon receipt of the incident reports, the DPO had promptly assisted relevant departments in handling the incidents and provided technical advice to enhance their information security.

     As for public bodies, neither the DPO nor the Hong Kong Computer Emergency Response Team Coordination Centre has received any notification of information security incidents from public bodies relating to ransomware attack in the past three years. However, we note that individual public bodies have taken the initiative to make public announcement on relevant incidents having regard to the nature and specific circumstances of the case. To enhance the information security of public bodies and strengthen the incident handling mechanism, the Government has since August 2024 required public bodies to notify the relevant B/Ds of incidents relating to their designated IT systems. As at mid-March this year, the Government has not received any relevant report.

     Depending on the circumstances of the case, there is a possibility that a ransomware attack may constitute a breach of “criminal intimidation” (section 24 of the Crimes Ordinance), “criminal damage” (section 60 of the Crimes Ordinance), “access to computers with criminal or dishonest intent” (section 161 of the Crimes Ordinance), or other related offences. The Police does not maintain breakdown statistics on the number of arrests for ransomware attacks.

(2) On February 22 this year, Invest Hong Kong (InvestHK) identified an information security incident which involved a malicious ransomware attack to part of InvestHK’s computer systems. Upon identification of the incident, the Department took immediate measures to tighten security of its IT systems to prevent further ransomware attacks. In line with the established procedures, it has on the same day also reported the case to the Police, the DPO, the PCPD and the Security Bureau respectively. According to InvestHK’s investigation findings, there was no evidence indicating leakage of personal information. No further suspicious activities have been identified since then. As at mid-March this year, the Department has not received any public complaints or enquiries related to this information security incident. After the incident, InvestHK promptly issued press releases to clearly explain the situation to the public and its clients. It is believed that the incident has not affected investors’ confidence. InvestHK has all along been observing the Government’s procedures in its information and cybersecurity work. It will continue to cooperate with the DPO and adopt experts’ recommendations in tightening its IT security systems, so as to prevent similar incidents from happening again. 

(3) To enhance the IT security of B/Ds and public bodies, the Government has implemented several enhancement measures which require B/Ds and public bodies under their purview to strengthen the project governance and security of IT systems, including key initiatives such as:

(i) Strengthen oversight responsibility: all B/Ds must appoint a senior directorate officer or the head/ deputy head of the management team of relevant organisation to oversee information security work, and immediately assess and strengthen their existing cybersecurity measures, in order to guard against cyberattacks.
(ii) Regular tests, assessments and audits: all B/Ds and public bodies must arrange additional stress tests and security tests by an independent third party before rollout of their IT systems, and perform security risk assessments for their IT systems at least once every two years. Security risk assessments shall identify and determine the level of IT security risks of an IT system based on risk sources (e.g. vulnerabilities, threats), events (e.g. incident scenarios), and risk impact and likelihood, so as to help prioritise the identified risks for risk management and updating of response measures.
(iii) System health check, penetration test and compliance audit: the DPO introduced a centralised cybersecurity health check platform to conduct regular and continuous health checks and penetration testing on the government’s public-facing IT systems to enhance B/Ds’ ability to identify potential security vulnerabilities, thereby strengthening the prevention of information and cybersecurity incidents. The DPO also launched a new round of government-wide information security compliance audit in 2024, and will select eight government IT systems for in-depth information security compliance audit in 2025.
(iv) Real-life cybersecurity attack and defence drills: starting from 2024, the DPO will organise annual real-life cybersecurity attack and defence drill, and invite different B/Ds and public bodies to participate. The drills will simulate real-life cyberattacks to test the response and resilience of IT systems in the event of cyberattacks, with a view to enhancing the technique, experience and overall defence capabilities of B/Ds and public bodies through the drills and fortifying the defence line.
(v) Step up staff training: the DPO and the Civil Service College jointly organise thematic seminars under the Innovation and Technology leadership series for the senior management of all B/Ds, and provide latest cybersecurity trends and preventive measures to enhance their information security knowledge. read more

     Following is a question by Dr the Hon Johnny Ng and a reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (March 26):
 
Question:
 
     The Government established the Hong Kong Investment Corporation Limited (HKIC) in 2022 to manage the investment activities of designated government funds through identifying investment opportunities and strategically promoting development of target industries, while generating investment return. In this connection, will the Government inform this Council:
 
(1) of an overview of HKIC’s investments since its establishment, including the main industries supported by HKIC’s current portfolios, and how far HKIC can identify the investment targets which can contribute to the economic development of Hong Kong; whether the effectiveness of HKIC’s work has been assessed;
 
(2) given that the Temasek Holdings, founded in 1974, had an asset size reaching S$389 billion (HK$2.3 trillion) in March 2024, making it the eleventh largest sovereign wealth fund in the world, whether HKIC will draw on the successful experiences of, among others, the Temasek Holdings and the Singapore’s Economic Development Board Investment, and strengthen HKIC’s investment efforts while adjusting its investment directions at appropriate times; and
 
(3) as far as Hong Kong’s long-term economic development is concerned, whether it has considered adding a wider variety of sectors in HKIC’s investments, including high-growth industries such as Web 3.0, thereby building up future economic pillars for Hong Kong and attracting talents as well as innovative enterprises to set up their presence in Hong Kong?
 
Reply:
 
President,
 
     In consultation with the Hong Kong Investment Corporation Limited (HKIC), my consolidated reply to the three parts of the question is as follows:
 
     In the 2022 Policy Address, the Chief Executive announced the establishment of the HKIC to manage the investment for a total of HK$62 billion under the Hong Kong Growth Portfolio, Greater Bay Area Investment Fund, Strategic Tech Fund, and Co-Investment Fund. The positioning of the HKIC is to capitalise the power of “Patient Capital” to channel market capital and leverage market resources, with a view to attracting technology enterprises to set up their operations in Hong Kong, thereby accelerating the construction of a vibrant strategic industry ecosystem, while seeking reasonable financial return over the medium to long term.
 
     The HKIC actively leverages the guiding force of capital to promote collaboration among the investment, industry, academic and research sectors, facilitates the construction of international, regional and cross-border collaboration platform for Hong Kong, and supports the accelerated nurturing of new quality productive forces, thus enhancing Hong Kong’s long-term competitiveness and economic vitality.
 
     Since its establishment, the HKIC has invested in over 90 projects, including enterprises with cutting-edge technologies or in key industries. These projects are medium-to-long-term investments. Key themes include Hard and Core Technology, Biotechnology and New Energy and Green Technology. with the proportions being 56 per cent, 16 per cent and 11 per cent respectively based on the invested amount. In summary, these investments contribute to the development of Hong Kong’s innovation and technology industry, and help local start-ups explore diversified markets and application scenarios. On the other hand, they attract high quality projects and companies from the Mainland and overseas to set up and develop their business in Hong Kong through the channeling force of capital.
 
     The HKIC has clear requirements for investee companies to contribute to Hong Kong’s development in a sustainable manner, such as requiring the companies to establish offices in Hong Kong, nurture and attract talents, establish corporate venture capital (corporate VC) departments in Hong Kong and prioritise Hong Kong for their listing. Quite some investee companies have made good progress in attracting capital and talents and in exploring new markets, which has accelerated their planning for using Hong Kong as their business development platform. Certain investee companies have submitted their listing applications to the Hong Kong Exchanges and Clearing Limited.
 
     The HKIC also actively collaborates with various investment institutions and joins hands in investing with them, promoting the continuous development and application of cutting-edge technologies in Hong Kong. As of March 2025, every Hong Kong dollar invested by the HKIC has attracted over four Hong Kong dollars from long-term capital in the market for investment.
 
     The investments and relevant work of the HKIC are guided by the vision and needs of Hong Kong’s development. In the future, the HKIC will continue to fully support government policies and the needs of Hong Kong’s economic development, and actively work with different sectors of the society to pool resources and implement its work. The Government has always been fully supportive of the HKIC’s work and will consider the timing and arrangements for capital injection in a timely manner as appropriate.
 
     One of the HKIC’s key strategies for 2025 is to continue to focus on three core themes, namely Hard and Core Technology, Biotechnology, New Energy and Green Technology, and also capture the adjacent opportunities arising from these themes, including “cross-sector” applications. The HKIC also focuses on expediting the deployment and application of cutting-edge technologies, bringing innovative and disruptive research outcomes into the market and to serve the society.
 
     The HKIC has been paying attention to accelerating the exploration of the cutting-edge impetus for growth and to strategising the relevant investment implementation. For example, the first batch of capital allocated to the Investment Portfolio under the New Capital Investment Entrant Scheme, which management is supervised by the HKIC, will be invested in industries and innovative applications in areas such as low-altitude economy, gerontechnology and smart living technologies, as well as intelligent entertainment experiences.
 
     Thank you, President. read more

     To commemorate a century of Hong Kong’s aviation history that took flight from Kai Tak, and coinciding with the Hong Kong Sevens being held at Kai Tak Sports Park for the first time, the Hong Kong Special Administrative Region Government supports the event organisers in staging a special flight demonstration over Victoria Harbour on the afternoon of March 30. This event symbolises the century-long legacy of Hong Kong’s aviation history, inviting the public to join in witnessing this momentous and meaningful occasion.

     To facilitate the flight demonstration, the Civil Aviation Department (CAD) will establish a temporary restricted flying zone (RFZ) in and around Victoria Harbour. Flying activities, such as the flying of unmanned aircraft systems (drones and model aircraft), kites, captive balloons, mass release of small balloons, etc, will be restricted. The CAD will announce details of the temporary RFZ on the electronic portal for small unmanned aircraft “eSUA” and by Notice To Airmen.

     â€‹The flight demonstration will be subject to weather conditions, and details of the event will be announced by the event organisers in due course. read more