Author Archives: hksar gov

     An International Monetary Fund (IMF) Staff Mission has commended the Hong Kong Special Administrative Region (HKSAR) in its latest assessment, noting that many years of prudent macroeconomic policies have endowed the city with strong buffers to navigate through challenges and ensure continued stability despite increasing risks confronting global growth.

     The assessment was made in the Concluding Statement of the IMF Mission published today (December 12), following the 2018 Article IV Consultation with the HKSAR.

     The Financial Secretary, Mr Paul Chan, said, “I welcome the IMF’s reassuring forecast for Hong Kong and reaffirmation of our strong buffers and robust policy frameworks. While we are well placed to navigate the challenges ahead, the Government will stay vigilant in monitoring risks, and spare no efforts in boosting economic vibrancy and promoting economic growth.

     “To support long-term growth, the Government is working to increase labour force participation and further enhance Hong Kong’s competitiveness. I welcome the Mission’s acknowledgement of the steps we have taken, including capitalising on the development of the Guangdong-Hong Kong-Macao Greater Bay Area and rapid advancement in the field of innovation and technology.”

     The Chief Executive of the Hong Kong Monetary Authority (HKMA), Mr Norman Chan, said, “I welcome the Mission’s reaffirmation that the Linked Exchange Rate System (LERS) remains the appropriate arrangement for Hong Kong, which serves as an anchor of stability for the economy. Amid episodes of outflow from the Hong Kong dollar earlier this year, the LERS has operated smoothly and in accordance with its design. This reflects confidence in the LERS, a regime that is clear, transparent and proven to work well for Hong Kong.

     “I also note the Mission’s assessment that tight macroprudential regulations have helped contain systemic risks and should remain in place. Our banks are highly capitalised and subject to robust regulation. The HKMA will remain vigilant to the risks to banking stability amid growing volatility in global financial markets.”

     The Concluding Statement notes that Hong Kong’s economy has benefitted from a strong cyclical upswing and the growth momentum continued through the first half of 2018 as a result of the global recovery, continued solid growth in Mainland China, and increased consumer confidence. Hong Kong’s real Gross Domestic Product growth is projected to remain robust in 2018. As with the global outlook, risks have shifted to the downside for the economy, and such include risks of escalation in trade tensions, sharper-than-expected tightening of global financial conditions, sharp slowdown in the property market, and sharper-than-expected slowdown in the Mainland economy.

     The Mission assesses that many years of prudent macroeconomic policies and robust financial regulation and supervision will help Hong Kong weather possible domestic and external shocks. The strong buffers Hong Kong enjoys include large foreign exchange reserves, a current account surplus, one of the world’s largest net international investment positions, large fiscal reserves, and a well-capitalised banking system with high asset quality.

     The Mission reaffirms its support for the LERS, acknowledging that it remains the appropriate exchange rate arrangement for Hong Kong. The LERS has served as an anchor of stability, helping to ensure sustained growth, competitiveness, and the smooth functioning of the extensive financial services industry.

     The Mission notes that Hong Kong has been considered one of the most competitive economies in the world for many years, and is rightly taking steps to maintain competitiveness. These steps include further development of the bond market, introduction of various green finance initiatives, and development in innovation and technology as attested by the launch of eTradeConnect and the Faster Payment System. The Mission also notes that the development of the Greater Bay Area creates opportunities for Hong Kong over the medium term, given Hong Kong’s unique position as the gateway to the Mainland and as a global financial centre with renowned professional services.

     The Mission visited Hong Kong from October 29 to November 9 for the 2018 Article IV Consultation with the HKSAR. It held discussions with government officials, regulators and private sector representatives. The Concluding Statement is attached in the Annex. The full report of the Article IV consultation will be discussed by the IMF Executive Board in January 2019.
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     Following is the speech by the Secretary for Education, Mr Kevin Yeung, at the opening ceremony of the Learning and Teaching Expo 2018 today (December 12):
 
Mr Lee (Chairman of the Board of Directors of Hong Kong Education City, Mr Sunny Lee), distinguished guests, ladies and gentlemen,
 
    Good morning. It is my great pleasure to join you all today at the opening ceremony of the ninth Learning and Teaching Expo. First of all, I would like to extend a very warm welcome to everyone here, especially visitors from other places.
 
    The Learning and Teaching Expo is Asia’s leading education exposition and Hong Kong’s annual signature education event presented by the Hong Kong Education City. Gathering education professionals and technology practitioners, the Expo provides an excellent platform for exchanging views on the smart use of technology to enhance the quality of learning and teaching. This year, we have a record-breaking number of exhibition booths and professional development sharing sessions. They show a great variety of resources and technology, and new developments on education.
 
    The theme this year is “Tomorrow’s Learning Today”. Through efforts to sustain the development of information technology (IT) in education, the Government aims to prepare students for challenges of the 21st century. Over the past two decades, we have been tapping into the power of IT to enhance the effectiveness of learning and teaching, and there has been remarkable enhancement in schools’ IT environment and capacity.
 
     Building on existing strengths and the experiences gained, the Education Bureau continues to unleash students’ potential and develop their “learning to learn” capabilities through leveraging on the use of IT. We have adopted a holistic approach that encompasses different strategic actions, which include enhancing schools’ IT infrastructure, promoting capacity building in schools, and renewing curriculum. By now and for the first time in Hong Kong, all 1 000 public sector schools have basically established a WiFi infrastructure on their campus. With WiFi service covering all classrooms, students can learn on their own and collaborate with one another by using mobile computing devices. This development provides a favourable environment for revolutionary changes both within and outside the classroom. What was once unlikely has or will become possible and practicable. To facilitate teachers in adjusting to the wave of change, we have been organising a variety of training programmes that seek to further enhance the professional leadership and capacity of school leaders and teachers.
 
    Schools have been positive towards implementing e-learning. Apart from devising their own e-learning plans according to their circumstances and needs, schools also adopt various e-learning strategies to enhance effectiveness of learning and teaching. I am excited to learn of these good practices in some schools. For example, various learning management systems facilitate peer collaboration, and enable students to exchange information and ideas or work on a project together anytime and anywhere. Also, the collection of learning data and the provision of timely feedback are at our fingertips, which encourages self-directed learning of students. The technologies of virtual reality and augmented reality are now used by schools to conduct virtual field trips and experiments, and to help students acquire new knowledge in various subjects and areas, such as Chinese history, geography, STEM education and language learning. While schools have different paces in implementing e-learning, the school community has generally demonstrated a paradigm shift in transforming learning and teaching through the innovative use of IT.
 
    In fact, competency in using IT is an important 21st century skill. We have also placed due emphasis on developing students’ information literacy, with a view to enhancing their awareness of e-safety and nurturing them as effective, responsible and ethical IT users. Since the update of the framework on “Information Literacy for Hong Kong Students” in 2016, various online resources and training programmes have been made available to support teachers in developing students’ information literacy and teaching students the right attitude towards using IT. I know that teachers have skilfully incorporated the element of information literacy into cross-curriculum learning activities that put students into authentic contexts. For example, the ability to locate reliable information among multiple sources and to identify facts and judgements when reading a news article is developed in library and language lessons. In addition, many schools have already agreed on a set of principles with students and their parents to ensure that students will use IT and IT tools to enhance learning in a responsible and proper way. With teachers’ adequate support, students set out to explore the digital world and this exploration has become part of their learning experience and daily life.
 
    To better equip the younger generation for a challenging future, we need to enrich the education sector with useful insights, expertise and innovation from different countries and regions. Let me take this opportunity to thank the Hong Kong Education City for making this exposition a valuable platform for educators to conceive and exchange innovative ideas on learning and teaching. I believe that what educators aspire to learn and do today will inspire the education community on tomorrow’s learning. May I wish the event a great success and all of you a fruitful and inspirational experience. Thank you.

    

     The Chief Executive in Council has accepted all the final recommendations in the report submitted by the Electoral Affairs Commission regarding the delineation of constituencies for the District Council Ordinary Election in 2019.
 
     A government spokesman said today (December 12) that the decision of the Chief Executive in Council would be effected by way of the Declaration of Constituencies (District Councils) Order 2018, which will be published in the Gazette on December 14 and tabled at the Legislative Council on January 9, 2019 for negative vetting.
 
     The report of the Commission, submitted to the Chief Executive on November 20, was tabled at the Legislative Council today as required by law. The report is divided into three volumes. Volume 1 is the report, setting out the Commission’s recommendations and the reasons for its recommendations. Volume 2 contains the index map and 22 maps on the recommended constituency boundaries and the related boundary descriptions. Volume 3 records all the written representations. The report is available for public viewing at all Public Enquiry Service Centres of District Offices and the Registration and Electoral Office during ordinary business hours starting from today. The report may also be viewed at the Commission’s website (www.eac.gov.hk).
 
     The spokesman said that the Commission had conducted public consultation on its provisional recommendations from July 23 to August 21.
 
     “The Commission had carefully considered all the public representations before making its final recommendations for submission to the Chief Executive. It endeavoured to strike a fair and proper balance between the expressed wishes of the public on the one hand, and the statutory criteria for delineation on the other hand.”
 
     There will be 452 constituencies for the District Council Ordinary Election to be held in 2019. One District Council member will be elected for each constituency.
 
     “The making of the Order is an important step in the preparation for the next District Council Ordinary Election in late 2019. The Government and the Commission will put in place all necessary arrangements to facilitate the smooth conduct of the election,” the spokesman said. read more

     Special traffic arrangements will be implemented in Happy Valley today (December 12). The arrangements will come into effect one and a half hours before the start of the first race and will last until the crowds have dispersed after the race meeting.

A. Traffic arrangements before the commencement of the first race

1. Road closure

     Southbound Wong Nai Chung Road between Queen’s Road East and the up-ramp outside Hong Kong Jockey Club (HKJC) will be closed except for vehicles heading for Aberdeen Tunnel.

2. Traffic diversions

– Southbound Wong Nai Chung Road between Village Road and the up-ramp outside HKJC will be re-routed one way northbound;
– Vehicles from eastbound Queen’s Road East heading for Wan Chai and Happy Valley will be diverted to turn left to Morrison Hill Road;
– Traffic along southbound Morrison Hill Road heading for Happy Valley will be diverted via Sports Road and Wong Nai Chung Road;
– Traffic along Queen’s Road East cannot turn right to Wong Nai Chung Road except for vehicles heading to Aberdeen Tunnel;
– Traffic from Cross Harbour Tunnel heading for Queen’s Road East will be diverted via the down-ramp leading from southbound Canal Road flyover to Morrison Hill Road to turn right at the junction of Wong Nai Chung Road and Queen’s Road East; and
– Traffic from Cross Harbour Tunnel heading for Happy Valley or Racecourse will be diverted via the down-ramp leading from southbound Canal Road flyover to Canal Road East, southbound Morrison Hill Road, Sports Road and Wong Nai Chung Road.

B. Traffic arrangements before the conclusion of race meeting

1. Road closure

     The following roads will be closed from 35 minutes before the start of the last race:

– The up-ramp on Wong Nai Chung Road outside HKJC leading to Aberdeen Tunnel;
– Southbound Wong Nai Chung Road between Queen’s Road East and the up-ramp leading to Aberdeen Tunnel;
– Southbound Wong Nai Chung Road between Village Road and the Public Stands of HKJC;
– Westbound Leighton Road between Wong Nai Chung Road and Canal Road East; and
– Southbound Morrison Hill Road between Leighton Road and Queen’s Road East.

     In addition, southbound Wong Nai Chung Road between the up-ramp leading to Aberdeen Tunnel and the Public Stands of HKJC will be closed from about 10 minutes before the start of the last race.

2. Traffic diversions

     The following traffic arrangements will be implemented from 35 minutes before the start of the last race:

– Eastbound Queen’s Road East at its junction with Morrison Hill Road will be reduced to one-lane traffic heading for northbound Canal Road flyover;
– Vehicles from Cross Harbour Tunnel heading for Wan Chai will be diverted via the down-ramp leading from Canal Road East, U-turn slip road beneath Canal Road flyover, Canal Road West and Hennessy Road;
– Vehicles from Cross Harbour Tunnel heading for Happy Valley will be diverted via the down-ramp leading from Canal Road East, eastbound Leighton Road and Wong Nai Chung Road;
– Traffic on southbound Morrison Hill Road will be diverted to turn left to eastbound Leighton Road;
– Traffic along southbound Morrison Hill Road heading for Happy Valley will be diverted via eastbound Leighton Road and Wong Nai Chung Road; and
– Traffic along westbound Leighton Road will be diverted to Wong Nai Chung Road.

C. Learner drivers prohibition

     Learner drivers will be prohibited to turn left from Caroline Hill Road to Leighton Road between one and a half hours before the start of the first race and one hour after the last race. In addition, learner drivers will be prohibited from accessing the following roads within the above period of time:

– Shan Kwong Road between Yik Yam Street and Wong Nai Chung Road;
– Village Road between its upper and lower junctions with Shan Kwong Road;
– Percival Street between Hennessy Road and Leighton Road;
– Canal Road East; and
– The service road leading from Gloucester Road to Canal Road flyover.

D. Suspension of parking spaces

     Parking spaces on southbound Wong Nai Chung Road between Sports Road and Blue Pool Road will be suspended from 11am to 7pm during day racing, from 4.30pm to 11.59pm during evening racing, and from 5pm to 11.59pm during night racing.

     Any vehicles found illegally parked within the precincts of the above affected areas will be towed away without prior notice.

     Actual implementation of road closure and traffic diversion will be made by the Police at the time depending on traffic conditions in the areas. Motorists should exercise tolerance and patience, and follow the instructions of Police on site. read more

     Following is the speech by the Chief Executive, Mrs Carrie Lam, at the Hong Kong International Tourism Convention today (December 12):
 
Director Wang Zhimin (Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region (HKSAR)), Mr Yu Qun (Member of the leadership, Ministry of Culture and Tourism), Commissioner Xie Feng (Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the HKSAR), Vice Governor Xu Ruisheng (Vice Governor of Guangdong Province), Secretary Tam (Secretary for Social Affairs and Culture, Macao Special Administrative Region Government, Mr Alexis Tam), Mr Zhu Shanzhong (Executive Director of World Tourism Organization), ladies and gentlemen,
 
     Good morning. I’m pleased to be here today for the opening of the Hong Kong International Tourism Convention, delighted to be among so many distinguished government officials and business leaders. Among the thousand or so guests here today, I’m pleased to note the participation of senior players from the nine neighbouring Mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area, the Macao Special Administrative Region, as well as a number of other Mainland provinces and a total of 34 countries.
 
     In a time of increasing unilateralism and protectionism, tourism is a welcome tonic – a buoyant multilateral embrace of shared experience, cultural co-operation and people-to-people bonds. Indeed, connectivity, inclusiveness, the promise of mutual benefits and many other ambitions are the reasons why President Xi Jinping launched the Belt and Road Initiative some five years ago.
 
     We know that developing people-to-people bonds is one of the five connectivities pertaining to the Belt and Road Initiative, and we believe that tourism exchange is a powerful means of promoting such bonds. Tourism exchange can foster people’s understanding and appreciation of each other’s culture and living. This provides the foundation for closer and stronger relationships and co-operation in the longer term.
 
     Multilateral co-operation is no less central to the Belt and Road Initiative and to tourism development. Easing visa regulations, expanding flight connections, enhancing cultural co-operation – these and other considered measures can only help boost tourism and the rewards they offer us all. In developing regional tourism, for example, multi-destination visits can be effective. Consider, for example, the Asia Cruise Cooperation, a strategic alliance among Hong Kong, Hainan, Taiwan, Xiamen, the Philippines and Korea, in which alliance members jointly promote cruise tourism for mutual benefits.
 
     The Belt and Road Initiative is about capacity building and sharing benefits. Hong Kong is an international hub for professional services, from financial and legal, to architectural, communications, transportation management and many more. We also run one of the largest hospitality and tourism schools in Asia. We have the expertise, the experience and the institutions to provide services to other economies along the Belt and Road on tourism infrastructure developments, as well as train professionals for the tourism industry. And we look forward to playing a central role in the Belt and Road Initiative’s international tourism development.
 
     Closer to home, the Greater Bay Area has the means to rival Tokyo, San Francisco and New York – the world’s three renowned bay areas – in tourism potential. The Bay Area’s size and significance underscore that promise. With a collective population of 70 million, the Bay Area boasts a combined GDP of some US$1.5 trillion, that is roughly the size of Australia or South Korea. The Greater Bay Area’s tourism offerings are wide-ranging and undeniably inviting – from cosmopolitan, East-meets-West Hong Kong and the entertainment capital of the world, Macao, to the rich Chinese culture and heritage of the Greater Bay Area’s nine Mainland cities. At the same time, the Greater Bay Area is an important source market for other economies given its high level of affluence. You will hear more in-depth sharing of what this Greater Bay Area means for international and regional tourism in one of the plenary sessions this morning.

     I believe that Hong Kong is uniquely positioned to drive tourism opportunities emanating from the Belt and Road Initiative and the Greater Bay Area. And my Government is committed to realising Hong Kong’s tourism potential. Last October, we published a development blueprint for Hong Kong’s tourism industry. It emphasises four key strategies: diversifying our visitor source markets; offering tourism products with international and local characteristics; promoting smart tourism; and enhancing our service quality.
 
     Enhancing connectivity is the key for the strategies to work. In this connection, our Hong Kong International Airport links more than 70 million passengers a year to 220 destinations. And we are now expanding the airport into a three-runway system. On completion in 2024, we will have the capacity to handle up to 100 million passengers a year.
 
     On land, the Hong Kong section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link opened at the end of September. It now offers direct connection from Hong Kong to 44 Mainland destinations. And from those destinations, the rest of China opens up through the nation’s 25 000-kilometre high-speed rail network.
 
     Then there’s the Hong Kong-Zhuhai-Macao Bridge, which opened in late October and speeds us to the Greater Bay Area’s western region. The impact of the bridge in bringing tourists to Hong Kong is obvious. Therefore we have been working to ensure that our tourist spots and local communities are prepared. We are also collaborating with the Zhuhai and Macao authorities to ensure that our guests can have the best experience in Hong Kong.
 
     I should also add that there will be a new – which is the seventh – land boundary control point between Hong Kong and Shenzhen at Liantang/Heung Yuen Wai. To be completed next year, this boundary control point will significantly shorten the time needed to travel from Hong Kong to the east of Shenzhen, and beyond. All these infrastructure projects open up new opportunities barely reachable before and provide a solid foundation for Hong Kong to serve as an international gateway of the Greater Bay Area.
 
     Hong Kong has received about 60 million visitors so far this year, including over 13 million international visitors, and was ranked as the most visited city in the world by Euromonitor International. Coupled with the fact that Hong Kong is the world’s freest economy and China’s most international city, Hong Kong is best positioned to leverage the vast tourism potential of the Belt and Road Initiative and the Greater Bay Area development. We are prepared to grasp these opportunities ahead of us, and we welcome you to join us.
 
     My thanks to colleagues in the Tourism Commission, the Hong Kong Tourism Board and the Tourism Industry Council for organising today’s timely and welcome Tourism Convention. I wish you all a memorable stay in Hong Kong, and with Christmas and New Year approaching, a very merry Christmas and a prosperous year ahead. Also, I invite you to see for yourself what makes Hong Kong Asia’s world city – the most visited city in the world. Thank you very much.