The Government has published in the Gazette today (February 26) the Public Revenue Protection (Stamp Duty) Order 2025 (the Order) made by the Chief Executive to give force and effect of law to the Stamp Duty (Amendment) Bill 2025 (t… read more
The Director-General of Office for Attracting Strategic Enterprises (OASES), Mr Peter Yan, today (February 26) concluded his visit to Hangzhou and Shenzhen. The visit was aimed to foster collaboration and communication between Hong Kong with the enterprises in innovation and technology (I&T) sector in the two cities, and attract potential strategic enterprises to establish their presence in Hong Kong.
Hangzhou has been actively developing I&T sector, as well as the cultural and creative sector that integrated I&T over recent years. Several enterprises have rapidly emerged as influential leaders in these fields. In addition to the recently globally-discussed large language model AI enterprises, these leading companies also include tech-driven creative enterprises, which have produced globally successful online games and animated films based on Chinese mythology, creating a new wave of enthusiasm.
During the trip to Hangzhou, Mr Yan visited these leading enterprises and met with their founders and representatives. They discussed development trends in the industries of AI, tech-driven creative, robotics and spatial intelligence. They also explored on how enterprises in these industries could utilise Hong Kong as a base to expedite and enhance their efforts to expand overseas business. Mr Yan mentioned Hong Kong’s various advantages, including the Government’s commitment to I&T development, and its talent pool. As a global city, Hong Kong aligns with international standards and practices, thereby positioning itself as a connector and value-adder for mainland companies seeking to expand overseas. Strengthening cooperation between Hong Kong and I&T enterprises in Hangzhou is expected to facilitate industrial upgrading and technological innovation.
The Financial Secretary, Mr Paul Chan, mentioned today (February 26) in his 2025-26 Budget that in addition to the current four strategic sectors, including AI and data science, life and health technology, advanced manufacturing and new energy technology, and financial technology, the OASES will strategically attract to Hong Kong more cultural and creative enterprises that integrate I&T into their work. By leveraging Hong Kong’s unique advantage as a convergence point of eastern and western cultures, these creative technology enterprises will be able to go globalised, thereby infusing the local creative industry with more technological innovation and fostering its robust development.
​Mr Yan also visited the Hanggang Technology Building, known as “China’s Silicon Valley,” to gain further insights into Hangzhou’s technology development.
During his visit to Shenzhen, Mr Yan visited a local AI enterprise to understand the role of AI and data science in smart city development. He also discussed with them their intentions and plans for setting up or expanding business in Hong Kong.
Mr Yan concluded his official visit to Shenzhen this evening and returned to Hong Kong.
Following the delivery of the 2025-26 Budget by the Financial Secretary, the Secretary for the Civil Service, Mrs Ingrid Yeung, wrote to all civil servants on policy initiatives relating to the civil service in the Budget today (February 26).
The Budget proposed a reinforced fiscal consolidation programme and strictly controlling government expenditure. In her letter to civil service colleagues, Mrs Yeung wrote, “I believe that colleagues will appreciate that the fiscal consolidation programme as a whole is essential to the development of Hong Kong. In fact, under all circumstances, government departments should strive to enhance efficiency and contain their establishment by reviewing work priorities, reallocating internal resources, streamlining procedures and leveraging technology”.
She hoped that colleagues will keep up their good work, daring to break new ground with an innovative mindset, further embracing technology and making better use of human resources to enhance efficiency and effectiveness.
In addition, Mrs Yeung also met with representatives from the civil service central consultative councils and civil service staff unions.
During the meeting, Mrs Yeung told the attendees that civil servants, playing a pivotal role in policy implementation, should understand, appreciate and actively support the Government’s governing tenets and measures, dedicating themselves to building a vibrant economy, seeking development opportunities and improving people’s livelihoods, as well as promoting the high-quality development of Hong Kong. Mrs Yeung noticed that quite many civil servants expressed understanding of the decision to freeze pay and reduce establishment as well as their support for the Government’s direction of reforming its mode of work and applying technology. She was confident that the civil service would strive for excellence and overcome the challenges ahead, so as to bring the efficiency and effectiveness of the SARG to new heights. read more
The Commissioner of Customs and Excise, Mr Chan Tsz-tat, today (February 26) attended the inaugural ceremony of the third term of the Executive Committee of “Customs YES” and presented appointment certificates to the newly appointed Executive Director of the Executive Committee, Mr Desmond Yip, and 17 directors. Other directorates of the department also attended the ceremony.
The Executive Committee of “Customs Yes” comprises official and non-official members from different sectors, including legal, commerce and industry, healthcare, innovation and technology, youth services, and culture and sports, who will advise on the scheme’s sustainable development and activity strategy.
Speaking at the ceremony, Mr Chan expressed his gratitude to the staunch support of the Executive Committee, which has been offering valuable learning and exchange opportunities to members of “Customs YES”. He said that the department strives to cultivate global perspectives, an aspiring mindset, and an affection for the country and Hong Kong among the young people, and equip them to tell good stories of Hong Kong on the international stage in the future. “Customs YES” will continue to hold more exciting activities, taking young people onboard the “Hong Kong” train for exploration in the new era.
In his speech, Mr Yip welcomed the four newly joined directors and said that he looks forward to leading the new term of the Executive Committee to work hand in hand with Customs, continuously pushing the boundaries of “Customs YES” and contributing to youth development in Hong Kong.
Since its launch in 2021, “Customs YES” has over 8 000 young members aged between 12 and 24. For further information of the scheme, please visit www1.customsyes.hk.
The Hong Kong Economic and Trade Office, Sydney (Sydney ETO) hosted a Chinese New Year reception in Auckland, New Zealand, yesterday (February 25) to celebrate the Year of the Snake.
Over 150 guests from various sectors, including political and business circles, media, academia, community groups and government representatives, attended the reception. Among them were the Consul General of the People’s Republic of China in Auckland, Mr Chen Shijie; the Minister of Agriculture, Minister of Forestry, Minister for Trade and Investment and Associate Minister of Foreign Affairs of New Zealand, Mr Todd McClay; and the Mayor of Auckland, Mr Wayne Brown.
The Director of the Sydney ETO, Mr Ricky Chong, said in his welcoming remarks that Hong Kong and New Zealand share a long-standing and dynamic trade partnership built on a mutual commitment to open markets and free trade. Notably, New Zealand was the first foreign country to secure a free trade agreement with Hong Kong, reinforcing the depth of economic ties. The Hong Kong, China – New Zealand Closer Economic Partnership Agreement, signed in 2010 and in force since 2011, offers New Zealand exporters a competitive advantage and expands opportunities in the region.
“In Hong Kong, we are investing heavily to enhance our world-class infrastructure. A prime example is our new state-of-the-art Kai Tak Sports Park, set to open next month. With its 50 000-seat main stadium, the sports park will firmly put Hong Kong on the map as a global hub for major international sports and entertainment events. The world’s famous Hong Kong Sevens will also be held at the new Kai Tak Stadium from March 28 to 30,” Mr Chong added.
To promote Hong Kong’s pop culture, a music performance featuring Hong Kong teenagers in New Zealand was staged at the reception.
In addition to the reception in Auckland, the Sydney ETO also hosted Chinese New Year receptions in Sydney, Melbourne, Brisbane, Perth and Adelaide in Australia to celebrate the Year of the Snake with the communities.
