Following is the speech by the Financial Secretary, Mr Paul Chan, at the Grand Opening Ceremony and Welcome Dinner of the International Infrastructure and Projects Leaders Summit today (November 14):
     
�良生副部長 (Vice Minister of the Ministry of Water Resources Mr Li Liangsheng), Consul-Generals, distinguished guests, ladies and gentlemen,

     Good evening. It is a great pleasure to welcome you to the inaugural International Infrastructure and Projects Leaders' Summit.

     This three-day event brings together some 500 infrastructure leaders and experts from around the world. All of you are here to share the wealth of your experience, and valuable insights, in infrastructure development.   
 
Global infrastructure development: challenges and opportunities

     Infrastructure is the lifeline of an economy. Globally, however, infrastructure developments are grappling with challenges. One of them is the impact of climate change and extreme weather. That calls for enhancing the climate resilience of infrastructure projects through incorporating more effective designs and more advanced risk-detection technologies. 

     Another example is the funding gap. Estimates suggest that the global infrastructure financing gap is about US$15 trillion through 2030, with emerging markets and developing economies suffering the most. 

     While these challenges may seem daunting, there is much we can do to address them, creating opportunities for innovative solutions and new business ventures. Hong Kong, let me say, is your valuable partner in this regard. 

Hong Kong's value 

     Indeed, Hong Kong has long been recognised for its infrastructure prowess. Not only do we deliver infrastructure projects with quality, we have also earned a global reputation for running and managing them. 

     The Airport Authority of Hong Kong and the MTR Corporation Limited are good examples. The two institutions have expanded worldwide, assisting Chinese Mainland and overseas partners in building and operating their wide-ranging facilities. 

     We are also committed to driving innovation in infrastructure development. The Hong Kong SAR (Special Administrative Region) Government, for example, has taken the lead in integrating applied R&D (research and development) into public works projects, and formed a task force to that end. And, in August this year, we established the Building Technology Research Institute to lead innovation in construction, including materials, methods and technologies, as well as developing standards. 

     Speaking of innovation, Hong Kong is home to over 4 200 start-ups, many of them engaged in contech, proptech, greentech, IoT (Internet of Things), and more. They offer diversified solutions that enhance the safety, efficiency and sustainability of infrastructure development. 

     There's more. As an international financial centre, Hong Kong can help match quality projects with funding, supporting regional and global infrastructure development. Apart from providing a full range of funding options, we are also dedicated to applying innovative financing strategies to support infrastructure projects. 

     That includes, for example, securitisation of infrastructure loans, which is basically packaging mature, brownfield projects as an asset class for investors in need of stable returns, and thereby freeing up capital for greenfield projects. Over the past two years, we have arranged two batches of such loans, amounting to US$800 million and involving more than 50 projects in the Global South. 

Concluding remarks

     Ladies and gentlemen, as the Chinese saying goes, "It is difficult for one to act alone, but easy when many walk together" （孤舉者難起，眾行者易趨）. I am confident that this Summit will initiate inspiring discussions, foster collaboration and create partnerships to make an impact on the future of infrastructure – for the benefit of us all. 

     Finally, I wish you a rewarding Summit and an enjoyable stay in Hong Kong. Find time to appreciate our dynamic cityscape, East and West cultures, and all that this Asia's world city has to offer you. 

     Thank you.

      

     The Court of First Instance of the High Court today (November 14) handed down the sentence in a case concerning terrorism-related offences (commonly known as the "Dragon Slaying Brigade" case) involving such offences as "conspiracy to commit bombing of prescribed object" and "conspiracy to provide or collect property to commit terrorist acts" under the United Nations (Anti-Terrorism Measures) Ordinance, "conspiracy to commit murder" under the Offences against the Person Ordinance, "conspiracy to cause explosions of a nature likely to endanger life or to cause serious injury to property" under the Crimes Ordinance, "possession of arms and ammunition with intent to endanger life" under the Firearms and Ammunition Ordinance, etc. The ringleader of the case was sentenced to imprisonment for 23 years and 10 months, and other key persons of the case were sentenced to imprisonment for 10 years or above.
      
     The fact that the defendants were convicted and sentenced to imprisonment demonstrates that any person intending to plan and commit terrorist activities, endanger public security or disrupt society tranquillity can never escape sanctions of the law. Hong Kong is a society underpinned by the rule of law, where laws must be obeyed and lawbreakers be held accountable. People who break the law must face legal sanctions for their malicious acts. The Department of Justice will study the reasons for sentencing in detail and consider whether a review application to the Court of Appeal regarding sentence[s] will be filed.
      
     When handing down the sentence, the Judge clearly pointed out that the defendants of the case aimed at killing police officers, creating social panic, and subverting the Government. The case, which was very vicious, involved premeditated luring police officers out in order to kill them, and it would also cause damage to property.
      
     A Hong Kong Special Administrative Region (HKSAR) Government spokesperson said, "The facts admitted by the defendants indicate that the case involved plans of extreme terrorist violence and gruesome attacks. The circumstances of the case were very serious, in which real guns and explosives were involved. Had it not been for the crackdown on the gang by the Police in time, there would have been heavy casualties. Anyone who commits such nefarious terrorist acts can never escape sanctions of the law, and such malicious acts will surely be duly punished.
      
     "Both the Hong Kong National Security Law (HKNSL) and the Safeguarding National Security Ordinance (SNSO) stipulate offences related to terrorist activities and sabotage endangering national security, and other offences endangering national security, some of which carry a maximum sentence of life imprisonment. In case there are similar cases in future, the HKSAR Government will apply the enhanced laws relating to the safeguarding of national security, including the HKNSL and SNSO, in law enforcement and prosecution in sanctioning criminals. Anyone who advocates terrorism, including glorifying or financing terrorist acts, also commits an offence. The HKSAR Government hereby gives a solemn warning to those terrorists and criminals who recklessly attempt to endanger national security or Hong Kong's public security that they should not defy the law in the hope that they may not be caught."

     The Centre for Health Protection (CHP) of the Department of Health (DH) is today (November 14) investigating a case of measles infection and reminded the public that vaccination is the most effective way to prevent measles, and people born outside Hong Kong who might not have received a measles vaccination during childhood should review their vaccination history.

     The case involves a 22-year-old female with good past health. She had developed fever, runny nose and conjunctivitis since November 8, and developed rash on November 10. She sought medical attention from the clinic at the City University of Hong Kong where she attended on November 12, and was referred to the Accident and Emergency Department of Caritas Medical Centrel and admitted for treatment and isolation on the same day. Her respiratory specimen sample tested positive for the measles virus upon nucleic acid testing. She is still hospitalised and is in stable condition after treatment.

     Upon notification of the case, the CHP immediately commenced epidemiological investigations. According to information provided by the patient, she is a student of City University of Hong Kong who was born outside Hong Kong. She is not sure if she had received measles vaccinations in her home country. During the incubation period, she stayed in Hong Kong most of the time. She lived in a student residence of the university located in Ma On Shan and attended classes at the campus in Kowloon Tong during the communicable period. The CHP has maintained a close liaison with the university, the student residence and the medical institutions for follow-up epidemiological investigation. The CHP is carrying out contact tracing at locations the patient visited during her communicable period. All of them have remained asymptomatic so far. The CHP provided health and medical surveillance advice to the contacts, and post-exposure vaccination to non-immune contacts. The CHP has held an online health seminar this evening to remind relevant staff members and students of the university and student residence of precautions for measles and preventive measures. Meanwhile, the CHP has set up an enquiry hotline (2125 2670) for the relevant staff members and students of the university. The hotline will operate from tomorrow (November 15) to November 22 (from 9am to 5pm, Monday to Friday, and from 9am to 1pm on Saturday and Sunday).

     The investigations are ongoing.
 
     "The global immunisation coverage rates have dropped since the COVID-19 pandemic. Many countries worldwide are facing a resurgence of measles outbreaks. According to the World Health Organization (WHO), the number of measles cases had risen worldwide to over 300 000 cases reported in 2023, a roughly 80 per cent increase from 2022. The Western Pacific region recorded a total of about 5 000 cases in 2023, which represented more than a 2.5 times when compared with 2022, with persistent transmission found in the Philippines and Malaysia. In view of the continuous increase in measles cases, the WHO has urged parents to bring their children to get vaccinated as early as possible to prevent measles from spreading," a spokesman for the DH said.
 
     The CHP reiterated that vaccination is the most effective way to prevent measles. As revealed by the vaccination uptake of primary school students and the findings of the territory-wide immunisation surveys regularly conducted by the DH, the two-dose measles vaccination coverage has been consistently maintained at a high level, well above 95 per cent, and the local seroprevalence rates of measles virus antibodies reflect that most of the people in Hong Kong are immune to measles. On the whole, the information available indicates that the risk of large-scale outbreak is considered to be low in Hong Kong. However, it is possible for some not fully vaccinated people to get infected and transmit the measles virus to susceptible people (including children aged below 1 who are not due for the first dose of measles vaccine).
 
     The spokesman reminded members of the public that delays in vaccination will weaken the protection for children against measles, and parents are reminded to maintain up-to-date vaccination for their children for comprehensive and timely protection. All people who are non-immune to measles, especially foreign domestic helpers, people working or studying in tertiary institutions, and workers of sea/land/air border control points who may be at a higher risk of contacting an imported case, should receive two doses of measles-containing vaccine. In general, people can be considered as non-immune to measles if they (i) did not have the infection confirmed by laboratory test before, and (ii) had not received two doses of measles-containing vaccines in the past, or have unknown vaccination status or unknown immunity against measles. On the other hand, as measles was endemic in Hong Kong and most parts of the world before 1967, people born before 1967 are considered to have acquired immunity to measles through natural infection.
 
     The spokesman supplemented that, members of the public who are planning to travel to places with a high incidence or outbreaks of measles should review their vaccination history and past medical history, especially people born outside Hong Kong who might not have received a measles vaccination during childhood. Those who have not received two doses of measles-containing vaccines, with unknown vaccination history or unknown immunity against measles, are urged to consult their doctor for advice on vaccinations at least two weeks before departure.
 
     The spokesman advised, "The incubation period (the period from infection to appearance of illness) of measles ranges from seven days to 21 days. Symptoms of measles include fever, skin rash, cough, runny nose and red eyes. If symptoms arise, members of the public should wear surgical masks, stop going to work or school and avoid going to crowded places. They should also avoid contact with non-immune persons, especially persons with weakened immunity, pregnant women and children aged below 1. Those suspected to have been infected are advised to seek medical attention as early as possible and reveal relevant contact history of measles to healthcare professionals."
 
     Besides being vaccinated against measles, members of the public should take the following measures to prevent infection:
 
• Maintain good personal and environmental hygiene;
• Maintain good indoor ventilation;
• Keep hands clean and wash hands properly;
• Wash hands when they are dirtied by respiratory secretions, such as after sneezing;
• Cover the nose and mouth while sneezing or coughing and dispose of nasal and mouth discharge properly;
• Clean used toys and furniture properly; and
• Persons with measles should be kept out of school till four days from the appearance of a rash to prevent the spread of the infection to non-immune persons in school.
 
     For more information on measles, the public may visit the CHP's measles thematic page. Members of the public who are going to travel can visit the website of the DH's Travel Health Service for news of measles outbreaks outside Hong Kong.

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender for 2-year RMB institutional Government Bonds (issue number 02GB2611001) under the Infrastructure Bond Programme was held today (November 14).
      
     A total of RMB1.0 billion 2-year Government Bonds were offered today. A total of RMB5.409 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 5.41. The average price accepted is 99.98, implying an annualised yield of 2.062 per cent.

HKSAR Institutional Government Bonds tender results
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     Tender results of 2-year RMB HKSAR Institutional Government Bonds:
 

* Calculated as the amount of bonds applied for over the amount of bonds issued.

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced that a tender for 10-year RMB institutional Government Bonds (issue number 10GB3411001) under the Infrastructure Bond Programme was held today (November 14).
      
     A total of RMB1.5 billion 10-year Government Bonds were offered today. A total of RMB4.361 billion tender applications were received. The bid-to-cover ratio, i.e. the ratio of bonds applied for to bonds issued, is 2.91. The average price accepted is 100.18, implying an annualised yield of 2.454 per cent.

HKSAR Institutional Government Bonds tender results
————————————————————
     Tender results of 10-year RMB HKSAR Institutional Government Bonds:
 

* Calculated as the amount of bonds applied for over the amount of bonds issued.