Tag Archives: China

     The Hong Kong Economic and Trade Office, New York (HKETONY) and the Invest Hong Kong (InvestHK) joined hands to promote business opportunities in Hong Kong at a holiday reception held in New York on January 24 (New York time).

     The event, hosted by the Hong Kong Association of New York was attended by guests from various sectors, including business, finance, legal and trade.

     In her welcome remarks, the Director of HKETONY, Ms Maisie Ho, gave the guests an update on the latest economic situation and developments in Hong Kong, and highlighted the city’s role as a major global financial centre, the world’s largest offshore renminbi business hub, an international asset and wealth management centre and a start-up hub, as well as one of the best places for high-net-worth individuals to set up family office.

     “Hong Kong is a city full of opportunities. As an international business hub and premier gateway to Mainland China, Hong Kong is an ideal partner for global enterprise and investment in Asia”, she said.

     Ms Ho’s points were reiterated by the Head of International Business Development of InvestHK, Ms Alison Tsui, who shared with the guests her insights on doing business in Hong Kong, highlighting the city’s unique advantages, its energised startup ecosystems and the latest initiatives on attracting companies and talents. 

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     The Centre for Health Protection (CHP) of the Department of Health (DH) today (January 25) reminded the public, particularly the elderly and people with chronic illnesses, to adopt appropriate measures to protect their health in view of the cold weather.

     A spokesman for the CHP said that cold weather can easily trigger or exacerbate diseases, especially among the elderly and persons suffering from heart disease, respiratory illness or other chronic illnesses.

     “Elderly people have less insulating fat beneath their skin to keep them warm and their body temperature control mechanism may be weaker. Their body may not be able to appropriately respond to the cold weather,” the spokesman said.

     Some senior persons may have decreased mobility, which can in turn impair their ability to generate and conserve body heat. Chronic illnesses, such as hypertension, diabetes and endocrine disorders may undermine the health of elderly people and lower their metabolic rate, subsequently causing their body to generate less heat. Persons with chronic illnesses such as chronic respiratory illnesses or heart disease are vulnerable to disease aggravation due to cold weather.

     The CHP reminded the public, in particular the elderly and persons with chronic illnesses, to adopt the following preventive measures:
 

• Take note of the weather forecast. Wear warm clothing, including hats, scarves, gloves and socks accordingly;
• Consume sufficient food to ensure adequate calorie intake;
• Perform regular exercise to facilitate blood circulation and heat production;
• Stay in a warm environment and avoid prolonged outdoor exposure;
• Use heaters with care, and maintain adequate indoor ventilation; and
• Seek medical advice if feeling unwell.

     In addition, the public should avoid alcoholic beverages.

     “Drinking alcohol cannot keep you warm. Alcohol accelerates the loss of body heat through dilated blood vessels, resulting in chilling instead,” the spokesman said.

     “Parents should ensure that babies are sufficiently warm, but it is also important to keep babies relatively lightly clothed to avoid overheating them,” the spokesman added.

     Parents should observe the following safety measures when putting their children to bed:  

• Keep the room well ventilated and at a comfortable temperature;
• Always place babies on their back to sleep. Leave their head, face and arms uncovered during sleep;
• Babies do not need pillows. Place babies on a firm and well-fitted mattress to sleep. Avoid soft objects, pillows and loose bedding;
• Let babies sleep in a cot placed in the parents’ room and near their bed; and
• Maintain a smoke-free environment.

 
     In addition, seasonal influenza vaccination is recommended for all persons aged 6 months or above except those with known contraindications. Persons at higher risk of getting influenza and its complications, including the elderly and children, should receive seasonal influenza vaccination early. Please see details of the vaccination schemes on the CHP’s website.
      
     A person who gets influenza and COVID-19 at the same time may be more seriously ill and would have a higher risk of death. Influenza vaccination may reduce the likelihood of hospitalisation and the length of stay. It is important for elderly persons, especially those residing in residential care homes, to receive both seasonal influenza vaccination and COVID-19 vaccination. They should also receive an additional booster against COVID-19 according to recommendations as soon as possible. The public should also maintain good personal and environmental hygiene against respiratory illnesses and note the following:
 

• Surgical masks can prevent transmission of respiratory viruses from ill persons. It is essential for persons who are symptomatic (even if having mild symptoms) to wear a surgical mask;
• Wear a surgical mask when taking public transport or staying in crowded places. It is important to wear a mask properly, including performing hand hygiene before wearing and after removing a mask;
• Avoid touching one’s eyes, mouth and nose;
• Wash hands with liquid soap and water properly whenever possibly contaminated;
• When hands are not visibly soiled, clean them with 70 to 80 per cent alcohol-based handrub;
• Cover the mouth and nose with tissue paper when sneezing or coughing. Dispose of soiled tissue paper properly into a lidded rubbish bin, and wash hands thoroughly afterwards;
• Maintain good indoor ventilation;
• When having respiratory symptoms, wear a surgical mask, refrain from work or attending classes at school, avoid going to crowded places and seek medical advice promptly; and
• Maintain a balanced diet, exercise regularly, take adequate rest, do not smoke and avoid overstress.

    
     Food-borne diseases, particularly those linked to hot pot cuisine, are also common in cold weather. The following preventive measures should be taken:
 

• Wash hands before handling and consuming food;
• Do not patronise unlicensed vendors or those with poor hygienic standards while selecting food;
• Wash and cook all food thoroughly;
• Vegetables should be washed thoroughly in clean running water before cooking and consumption. When appropriate, scrub vegetables with hard surfaces with a clean brush to remove dirt and substances, including pesticide residues and contaminants, from the surface and crevices;
• Shrimps should be fully cooked until the shells turn red and the flesh turns white and opaque;
• For shellfish such as scallops and geoduck, scrub the shells thoroughly and remove internal organs;
• Most hot pot ingredients should be stored in a refrigerator at 4 degrees Celsius or below, while frozen food should be stored in a freezer at -18 degrees C or below;
• Never use raw eggs as a dipping sauce for hot pot; and
• Use different sets of chopsticks to handle raw and cooked food to avoid cross-contamination.

     In addition, when using fuel-burning appliances, especially in indoor areas, the public should ensure adequate ventilation to avoid harmful exposure to carbon monoxide (CO) and prevent CO poisoning.

     For more health information, the public may call the DH’s Health Education Infoline (2833 0111) or visit the CHP’s website and Facebook Fanpage.

     The public may also call Dial-a-Weather (1878 200) or visit the website of the Hong Kong Observatory for the latest weather information and forecast, or its page on Weather Information for Senior Citizens. read more

Attention duty announcers, radio and TV stations:      Please broadcast the following special announcement immediately, and repeat it at frequent intervals when the Cold Weather Warning is in force:    &nbs… read more

     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, today (January 24) held bilateral meetings with overseas senior officials and representatives from the European Commission on the sidelines of the Asian Financial Forum (AFF) 2024. 
 
     They included the Minister of Finance of Qatar, Mr Ali bin Ahmed Al-Kuwari; the Minister of Finance of Egypt, Dr Mohamed Maait; and the Minister of Planning and Economic Development of Egypt, Professor Hala El Said. All of them met with Mr Hui during the latter’s visit to Qatar and Egypt in September last year. 
 
     Mr Hui said, “This year, AFF returns in full physical format since we have emerged from the COVID pandemic. Over 3 000 financial experts and leaders from across the globe participates in this mega event, with over a hundred of them joining as speakers. It is my great pleasure to come together with some of them again. By telling the good stories of Hong Kong overseas, our unique advantages could arouse the interest of influential leaders to come here for forging closer ties and tapping more opportunities.  
 
     “The announcement by the People’s Bank of China (PBoC) on a series of measures which deepen the financial co-operation between the Mainland and Hong Kong is another major event relating to the development of Hong Kong’s financial industry today. The new measures enhance the existing Bond Connect and Cross-boundary Wealth Management Connect arrangements, as well as facilitating payment arrangements for purchasing properties, promoting co-operation on credit referencing and cross-boundary e-CNY. The new measures bring new opportunities for Hong Kong’s financial sector. The HKSAR Government and financial regulators will continue to maintain close communication with the PBoC and relevant Mainland authorities to implement the various policy measures on enhancing financial co-operation between the Mainland and Hong Kong.”

     During the respective meetings, Mr Hui discussed with the ministers about the financial co-operation opportunities. These include encouraging Qatar financial institutions to set up in Hong Kong for asset and wealth management. For Egypt, they could make use of Hong Kong’s Islamic finance infrastructure and the role as a major capital formation centre to raise fund.
 
     Mr Hui met as well with the Deputy Director-General for Financial Stability, Financial Services and Capital Markets Union of the European Commission, Dr Alexandra Jour-Schroeder. Mr Hui gave Dr Jour-Schroeder an update of Hong Kong’s development in areas such as green and sustainable finance and fintech since their meeting in Brussels, Belgium in April last year. Mr Hui said Hong Kong will continue to develop into a green fintech hub by better integrating fintech with green finance, and accelerating the green transformation of the economy.
 
     Mr Hui also updated Dr Jour-Schroeder Hong Kong’s continuous efforts in refining the tax regime to counter cross-border tax avoidance and prevent double non-taxation, thus bringing Hong Kong’s foreign-sourced income exemption (FSIE) regime in line with the latest requirements of the European Union.
 
     Tomorrow (Jan 25), Mr Hui will meet with the delegation from the World Alliance of International Financial Centers led by their Managing Director, Dr Jochen Biedermann. The delegation, composed of representatives from Kazakhstan, Korea, Luxembourg, Mauritius, Qatar and the United Kingdom, will exchange with Mr Hui on issues of mutual concern such as the latest market trend of green and sustainable finance.

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     The 17th Asian Financial Forum (AFF), co-organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council, opened today (January 24). Themed “Multilateral Cooperation for a Shared Tomorrow” and in line with our country’s initiative to promote global development for mutual benefits, this year’s forum aims to encourage different quarters from around the world to join hands in exploring strategies on sustainable economic development and opportunities of multilateral co-operation.
 
     Being the first large-scale international financial and business event in the region this year, the forum assembled more than 3,000 financial officials, representatives of central banks and regulators, senior executives from international financial and multilateral organisations, financial and business leaders and leading economists from over 40 countries or regions to shed light on hot topics such as opportunities in Mainland China, investment prospects, green finance, fintech, family office ecosystem, Renminbi internationalisation and development of the Greater Bay Area, reflecting Hong Kong’s strengths as an international financial centre from various perspectives.
 
     The Chief Executive, Mr John Lee, addressed the opening session this morning.  The Minister of the National Financial Regulatory Administration, Mr Li Yunze, delivered special remarks. The Financial Secretary, Mr Paul Chan, welcomed participants at the keynote luncheon and the cocktail reception in the evening today.
 
     Addressing the opening session, Mr Lee pointed out that this was the first time for the Forum to be held entirely in person since 2020, and noted that thousands of high-profile financiers and investors, international policymakers and business leaders, technology innovators and entrepreneurs, academics and professionals took part in the forum to get informed intelligence and insight on the global and regional economies as well as investment prospects.
 
     “Under the ‘one country, two systems’ principle, Hong Kong can create opportunities for companies, and economies, in Asia and around the world. We can, and we will, contribute to realising a bright and shared future for the global community. ‘One country, two systems’, and the far-reaching opportunities it brings to us, has enabled Hong Kong’s financial sector to thrive despite the considerable challenges we face,” he added. Mr Lee invited participants from around the world to see for themselves Hong Kong’s new development opportunities and enjoy the experiential activities around town specially provided by the forum.
 
     Mr Li, in his speech, noted that Hong Kong is a globally renowned international financial centre with significant advantages in economic freedom, depth of financial market, internationalised legal environment and talent pool. He added that the National Financial Regulatory Administration will continue to strengthen bilateral regulatory co-operation with Hong Kong, promote higher-level opening up to Hong Kong and Macao under the framework of CEPA, and fully support Hong Kong to leverage its unique advantages under the “one country, two systems” principle, so as to continuously reinforce and enhance Hong Kong’s status as an international financial centre. The initiatives include further deepening the connectivity between the financial markets in the Mainland, Hong Kong and Macao; enhancing opening up of Mainland’s banking and insurance sectors to Hong Kong and Macao; supporting Hong Kong in consolidating its role as a global offshore Renminbi business hub; and supporting Chinese financial institutions to anchor and serve Hong Kong market. He was confident that “as an international financial centre where East meets West and charm abounds, Hong Kong will definitely develop greater vitality and competitiveness, further contributing to prosperous development of the Asian regions”.
 
     Speaking at the keynote luncheon, Mr Chan shared his views on achieving sustainable development. He said, “As for Hong Kong, we are an active contributor to global sustainable development. Our role, as part of China, is to serve as a major financial and trade centre connecting markets, investors and capital.” He stressed that economic progress is central to achieving sustainable development, noting that the power of free trade and the flow of capital has unleashed immense productivity worldwide, raising the incomes and living standards of billions of people. Therefore, Hong Kong is firmly committed to multilateralism, to free trade, and to reducing trade barriers, and Hong Kong is also a staunch supporter of the rules-based multilateral trading system, with the World Trade Organization as governing institution. He also pointed out that Hong Kong is well-positioned to support climate action and green transition in the Asian region and around the world, and will unleash the potential of fintech in promoting sustainable development. The President of United Nations Sustainable Development Solutions Network, Professor Jeffrey D. Sachs, elaborated on how responsible capitalism would reshape the new normal along the sustainable roadmap, and emphasised the crucial role of global co-operation in this regard.
 
     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, chaired two plenary sessions today. In the morning session, ministers from various countries shared their experiences and strategies in charting the path to a shared future under the post-pandemic adverse environment. Speakers included the Minister of Finance of Qatar, Mr Ali bin Ahmed Al-Kuwari; the Minister of Finance of Egypt, Dr Mohamed Maait; the Minister of Finance of Croatia, Mr Marko Primorac; the Deputy Minister of Finance of Thailand, Mr Julapun Amornvivat; and the Vice Minister of Finance of Indonesia, Mr Suahasil Nazara.
 
     During the plenary session chaired by Mr Hui in the afternoon, the President of the New Development Bank, Mrs Dilma Rousseff; the President of the Islamic Development Bank, Dr Muhammad Sulaiman Al Jasser; the Minister of Planning and Economic Development of Egypt, Professor Hala El Said; and the Deputy Director-General of the Directorate‑General for Financial Stability, Financial Services and Capital Markets Union of the European Commission, Dr Alexandra Jour-Schroeder, examined the role of finance in sustainability and the importance of multilateral co-operation in regional economic development.
 
     Also among the highlights of the programme today was the policy dialogue chaired by the Chief Executive of the Hong Kong Monetary Authority, Mr Eddie Yue. Under the theme of “Towards International Economic and Financial Cooperation”, speakers exchanged views on managing global economic and financial challenges through effective collaboration as well as maintaining financial stability amid heightened global economic vulnerabilities. Speakers included the Member of the Executive Board of the Deutsche Bundesbank, Mr Burkhard Balz; the Governor of the Central Bank of Mongolia, Mr Lkhagvasuren Byadran; the Deputy Director of the Asia and Pacific Department of the International Monetary Fund, Mr Thomas Helbling; the Chief Executive of the Dubai Financial Services Authority, Mr Ian Johnston; and the Vice-President (East and Southeast Asia, and the Pacific) of the Asian Development Bank, Mr Scott Morris.
 
​     In addition, in the forum, the HKSAR Government and the Government of the Republic of Croatia signed the Comprehensive Avoidance of Double Taxation Agreement, which will further promote economic and trade ties between Hong Kong and Croatia, and bring the bilateral relations to a new level.  The Financial Services Development Council of Hong Kong and the Financial Sector Development Program of the Kingdom of Saudi Arabia also signed a memorandum of understanding to strengthen collaboration and enhance connectivity between the financial markets in the two places.
 
     The AFF will continue tomorrow (January 25). The breakfast panel, with the theme of “Unleashing the Dragon’s Currency: Navigating Renminbi Internationalisation on the Global Stage”, will facilitate discussion on Renminbi’s journey towards global prominence, providing valuable insights into the future of finance, investment strategies and evolving international relations. The Nobel Laureate in Economic Sciences in 2022 and the Merton H. Miller Distinguished Service Professor of Finance of the University of Chicago’s Booth School of Business, Professor Douglas W. Diamond, will speak at the keynote luncheon to illustrate the likely interest rate moves by the United States Federal Reserve as well as the risks of economic recessions and measures to address structural financial crises.
 
     The two-day forum stages a number of discussion sessions in multiple format, including the Global Spectrum series, Fireside Chat series, Dialogues for Tomorrow series and thematic workshops, which provide platforms for participants to undergo in-depth discussions on a wide range of issues of global interests. The AFF Deal-making and exhibition zones assist investors in exploring global investment opportunities and collaboration.  There is also the Global Investment Zone, which introduces investment environments and potential projects of various countries or regions to forum participants.
 
        In addition, to tell the good story of Hong Kong and promote the mega-event economy, the forum has arranged with multiple partnering organisations special experiential activities for participants from outside Hong Kong, including free admission to the Hong Kong Palace Museum, tour of Hong Kong aboard an open-top sightseeing bus or Hong Kong’s iconic red-sail junk boat, dining discounts, guided tours, etc. The diversified programmes will add to participants’ first-hand experience in the vibrant colours, rich culture and dynamic lifestyle of Hong Kong.

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