Tag Archives: China

     Invest Hong Kong (InvestHK) and Deloitte China launched the study “Hong Kong’s Path to Carbon Neutrality: Guide to Navigate the Green Tech Market” at an event today (December 11), showcasing Hong Kong’s strategic advantages and opportunities in the rapidly evolving green technology sector, along with global investment trends and landscapes. As the global emphasis on climate action intensifies, alongside recent international sustainability commitments like COP29’s pledge of US$300 billion in climate finance, Hong Kong is well positioned to capitalise on this momentum by driving regional green tech growth through a focus on five pivotal sectors: power and new energy, green mobility, sustainable built environment, waste reduction and management, and biodiversity.
      
     The event brought together more than 100 industry leaders, investors, sustainability experts, and technology specialists, along with professional service providers, to explore the evolving global trends in climate technology and how Hong Kong can leverage its traditional strengths to become a leading green tech hub. The study also provides recent case studies of overseas green tech ventures that have recently established operations or have business expansion plan in Hong Kong, generating practical insights and approaches for scaling climate solutions in Hong Kong and global markets.
      
     The Global Head of Financial Services, FinTech & Sustainability at InvestHK, Mr King Leung, says, “In the global green tech market, China is emerging strongly, particularly in the Power & Clean Energy sector and Sustainable Built Environment, where China has by far the most patents in the world. Some of these leading companies have already listed and established their international headquarters in Hong Kong. With buildings accounting for the biggest share of energy consumption in Hong Kong, green tech companies are critical for reducing our carbon emissions and embodied carbon through innovation. They can also use Hong Kong as a showcase to accelerate their expansion into other global markets such as the Middle East and Southeast Asia.”
      
     The global climate tech landscape is shifting dramatically, with China’s share of investment surging from 6 per cent in 2000-2004 to 22 per cent in 2020-2023, while the US share decreased from 76 per cent to 49 per cent. With Hong Kong’s strategic position as a gateway between East and West, combined with its deep integration with the Greater Bay Area, the city serves as an ideal destination for global green tech companies seeking to tap into the Mainland market while propelling Chinese innovations onto the global stage. However, key challenges need to be addressed to capture these opportunities.
      
     According to the Greentech Subject Matter Expert Survey, the top three challenges in adoption are weak demand-side push (58 per cent), ecosystem gaps (47 per cent), and limited talent base (47 per cent). To drive green tech development forward, Hong Kong’s Climate Action Plan 2050 sets clear policy directions in renewable energy, energy efficiency in buildings, low carbon transport, and waste management. As a leading international financial centre, Hong Kong is well positioned to channel RMB138 trillion needed for China’s transition to carbon neutrality by 2050, with the Hong Kong Exchanges and Clearing Limited leading as the largest venue for Chinese offshore green bonds at 46 per cent of total offshore volume.
      
     To unlock Hong Kong’s green tech potential and accelerate its journey toward carbon neutrality, InvestHK and Deloitte China released a joint report illustrating the city’s strategic advantages across five key sectors:
      

• Power & New Energy: Hong Kong’s electricity generation is transitioning to cleaner sources, with 25 per cent currently supplied by the zero-emission nuclear sources, while experts suggest renewable energy potential beyond the government projections of 3-4 per cent. With global green energy investments hitting US$1.1 trillion in 2022 and China dominating solar manufacturing, Hong Kong is well placed to advance smart grid and storage technology development.

 

• Green Mobility: Public transport accounts for 90 per cent of daily passenger movements in Hong Kong, where transport contributes 20 per cent of total emissions. In a sector attracting US$8.95 billion in global investment, the city’s extensive transport network creates an ideal testbed for sustainable transport solutions, from transport electrification to autonomous systems integration, and mobility-as-a-service platforms, aligning with China’s leadership in electric mobility innovation.

     

• Sustainable Built Environment: Hong Kong leads globally with around 42 000 buildings, including 8 000 high-rises and over 1 500 skyscrapers, with 30-50 per cent of carbon emissions coming from construction. The sector presents massive investment potential, with the global zero-energy building technology market set to surge from US$72 billion to US$403 billion by 2031, supported by China’s leadership in green building patents.

 

• Waste Reduction & Management: Hong Kong’s per capita waste generation exceeds neighbouring cities such as Tokyo, Seoul, and Taipei, creating urgent demand for innovative solutions. Recent developments in local recycling infrastructure and emerging business initiatives are accelerating the adoption of waste-to-energy technologies and circular economy solutions.
       
• Biodiversity: With over 40 per cent of land designated as protected areas, Hong Kong’s rich natural environment combined with its advanced research capabilities creates opportunities for environmental innovation. Ten companies have committed to Taskforce on Nature-related Financial Disclosures for 2024/2025, with growing demand expected for tech solutions in digital species monitoring and biodiversity impact measurement.

     Deloitte’s research highlights critical enablers for green tech development, with strong government support (47 per cent) emerging as the leading factor, followed by access to funding (53 per cent) and ecosystem readiness (47 per cent). Hong Kong’s strengths as a leading financial and innovation hub make it well positioned to capitalise on these success factors, particularly through its financial ecosystem that combines both global reach and market depth. With HK$35.5 trillion in assets under management in which 65 per cent comes from international funding, along with its position as Asia’s second-largest private equity market, the city offers a robust foundation for scaling green tech solutions.
      
     Deloitte China Hong Kong Sustainability & Climate Leader Mr Mohit Grover says, “Our analysis reveals that Hong Kong’s unique ecosystem positions it to pioneer the next generation of climate solutions. Beyond just having the right capabilities, we’re seeing real momentum in how our city is bringing together technical innovation, policy support, and market demand. This convergence creates exceptional opportunities for green tech companies to develop, test, and scale their solutions. What’s particularly compelling is how Hong Kong can serve as a dynamic platform for sustainable urban solutions, offering practical insights and implementation models for other Asian cities.”
      
     Deloitte Global GreenSpace Tech Leader Ms Andrea Culligan says, “The global green tech landscape is experiencing a fundamental shift in how solutions are developed and scaled. What sets Hong Kong apart in this evolution is its ability to bridge Western capital with Asian innovation. The city’s deep understanding of regional sustainability challenges, combined with its sophisticated financial infrastructure, creates unique advantages for companies looking to capture opportunities in Asia’s fastest-growing markets. We’re seeing increasing interest from international players who recognise Hong Kong’s strategic value in their global expansion plans.”
      
     Building on these foundations, Hong Kong is accelerating its development as a green tech hub through enhanced research and development support, expended funding mechanisms for start-ups, and strengthened collaboration across academia, industry and government. With the city’s unique combination of financial strength, technical expertise, and strategic location, Hong Kong is poised to lead the next wave of sustainable innovation in Asia, turning climate challenges into opportunities for growth and positive impact.

     Click here to download the report. read more

     The Second Business Conference on Guangdong-Hong Kong-Macao Greater Bay Area Development is being held today and tomorrow (December 11 and 12) at the Hong Kong Convention and Exhibition Centre, attracting about 1 000 business leaders and representatives of enterprises from Hong Kong, Guangdong and Macao, as well as from other Mainland cities and overseas for in-depth exchanges on key issues relating to the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) for promotion of the advantages and opportunities of the GBA. The conference provides a platform for the governments and the business sector to jointly drive forward the development of the GBA, enabling Guangdong, Hong Kong and Macao to leverage their respective strengths in serving the country’s needs and contributing together to the country’s high-quality development.

     The conference is jointly organised by the Hong Kong Special Administrative Region Government, the China Council for the Promotion of International Trade (CCPIT), the People’s Government of Guangdong Province and the Macao Special Administrative Region Government, with the Hong Kong Trade Development Council as the strategic partner. Under the theme “Development of the Greater Bay Area in China to Provide Opportunities for the World”, the conference features an opening ceremony, a keynote session, parallel thematic panels, and city promotion and enterprise match-making activities.

     In the morning, the Chief Executive, Mr John Lee, together with Vice-Chairman of the National Committee of the Chinese People’s Political Consultative Conference, the Chairman of the All-China Federation of Industry and Commerce and the President of the All-China Chamber of Industry and Commerce, Mr Gao Yunlong; Vice Chairman of the CCPIT Mr Zhang Shaogang; and Deputy Secretary-General of the People’s Government of Guangdong Province Mr Huang Mingzhong officiated at the opening ceremony and delivered opening speeches. The Chief Executive of the Macao Special Administrative Region, Mr Ho Iat-seng, also gave a video speech.

     Mr Lee said in his speech that the GBA, one of the most economically vibrant and open regions in the country with an economic scale close to that of the 10th largest economy in the world, is becoming increasingly influential in the country and in the world, demonstrating great potential for development. As one of the core cities in the GBA and with its unique advantages under “one country, two systems”, Hong Kong is complementing the strengths of other GBA cities in enhancing the measures that promote mutual connectivity, playing the role of an active participant, facilitator and beneficiary of the GBA’s development.

     Mr Lee said that a number of measures relating to the participation in the GBA’s development have been rolled out in this year’s Policy Address, including promoting the development of the Hong Kong-Shenzhen Innovation and Technology Park in the Loop, as well as strengthening the mutual market access regimes and harmonisation of rules and mechanisms in areas such as logistics, aviation, professional qualifications, capital, data flow and legal matters. He said Hong Kong will serve as the power source for the high-quality development of the GBA, promoting the efficient flow of people, goods, capital and information in the region.

     The Deputy Secretary for Justice, Dr Cheung Kwok-kwan; the Secretary for Commerce and Economic Development, Mr Algernon Yau; and the Permanent Secretary for Commerce and Economic Development, Ms Maggie Wong, also attended the opening ceremony.

     At the opening ceremony, Dr Cheung and Mr Zhang signed a Memorandum of Understanding to further enhance collaboration of the two sides in areas such as the development of foreign-related rule of law, multifaceted dispute resolution and the nurturing of foreign-related legal talent, to fully leverage the strengths of Hong Kong’s common law system, thereby contributing to the development of trade and investment between the Mainland and Hong Kong, and the construction of foreign-related rule of law of the country. Mr Yau delivered a welcoming speech at the opening ceremony.

     The Financial Secretary, Mr Paul Chan, said in his speech at the welcoming luncheon in the afternoon that the GBA is a huge market with a wealth of talent, a strong industrial base, well developed financial services and strong technological innovation capabilities. With the development momentum generated by the dual engines of finance and innovation and technology, the GBA possesses advantages comparable to the combined strengths of the San Francisco Bay Area and the New York Bay Area in the United States.
      
     He also highlighted Hong Kong’s internationalised advantages under “one country, two systems”, exemplified in particular in financial services and legal systems. Hong Kong’s competitiveness is also well recognised internationally, with rising positions in various international rankings. Looking ahead, with the strong support of the country, Hong Kong is actively driving forward the development of the “eight centres”, and deepening co-operation with sister cities in the GBA, especially in promoting high-quality development in the areas of finance, innovation and technology and trade to create a more favourable business environment and greater business opportunities for businesses from around the world.

     At the keynote session themed “Jointly Build a World-class Greater Bay Area with Prosperity to Share Opportunities of High-quality Development”, business leaders and representatives of enterprises from the Mainland and overseas shared with the audience the latest developments of the GBA and encouraged different sectors to seize the enormous opportunities therein.

     The conference also features four parallel thematic panels for business leaders to engage in in-depth discussions on topical issues including accelerating the cultivation of new quality productive forces, deepening mutual access between financial markets, establishing a multifaceted commercial dispute resolution mechanism and creating an inclusive business environment for intellectual property trading in the GBA.

     The conference will continue tomorrow. At the city promotion event in the morning, relevant entities of Guangdong, Hong Kong, Macao, Guizhou and Hainan will introduce their respective investment opportunities and business advantages in the GBA development. Field trips in the afternoon will present successful experiences in the GBA’s sectoral planning.

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     â€‹The Correctional Services Department (CSD) conducted a large-scale emergency exercise at Stanley Prison today (December 11). The exercise simulated a series of incidents, including mass indiscipline of persons in custody (PICs), a hostage-taking situation, assembly of members of the public intruding into a restricted area, and the discovery of explosives.
      
     The exercise, code-named Concord XXIII, aimed to test the emergency response of various units of the Department in different scenarios, including command and communication capabilities, the effectiveness of contingency plans implemented at different tier levels of response associated with the development of emergency situations, emergency response, and information dissemination at departmental levels, as well as to test the CSD’s co-ordination with other government departments.
      
     More than 150 staff members from the CSD, including the Correctional Emergency Response Team and the Regional Response Team, and the Hong Kong Police Force, took part in the exercise.
      
     The Assistant Commissioner of Correctional Services (Operations), Mr Chan Siu-hang, was in charge of the whole operation at the Department’s Central Control Centre in Stanley. He said that the exercise enhanced the response capabilities of the Department and the effectiveness of its emergency support. It also improved interdepartmental communication and co-operation.
      
     The CSD holds regular emergency exercises of different scales, including at institutional, regional and departmental levels, with a view to ensuring staff members are capable of handling different types of incidents, thereby providing a safe and secure custodial environment for PICs and maintaining Hong Kong as one of the safest cities in the world.

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     The Secretary for Home and Youth Affairs, Miss Alice Mak, continued her visit to Vientiane, Laos, today (December 11).
      
     Miss Mak met with the Secretary General of the Lao Youth Union, Mr Monexay Laomoaxong, in the morning, and shared work and experiences in nurturing the new generation of young people and promoting youth development with the Youth Union.
      
     Miss Mak then visited the Minister of Education and Sports, Lao People’s Democratic Republic (PDR), Dr Phout Simmalavong. During the meeting, Miss Mak expressed her gratitude for Laos’ support to the youth development work of the Hong Kong Special Administrative Region Government. The Home and Youth Affairs Bureau (HYAB) held the inaugural Youth Development Summit in August this year, which featured officials responsible for youth policies from various countries as guest speakers, including the Deputy Minister of Education and Sports, Lao PDR, Mr Kingmano Phommahaxay. The Summit attracted over 2 400 young people to register to participate, and about 500 of them came from the Mainland and other overseas locations such as Laos, Singapore, Malaysia, the Philippines, Indonesia and Thailand. Miss Mak and Dr Phout Simmalavong also exchanged views on the youth development work of the two places and explored possibilities for strengthening bilateral cooperation to provide Hong Kong youth with more opportunities to broaden their international perspectives.
      
     In the afternoon, Miss Mak visited the United Nations Development Programme and the United Nations Human Settlements Programme in Laos, where she met with representatives from the agencies and volunteer interns to learn about the operation of the United Nations Volunteers – Hong Kong Universities Volunteer Internship Programme and the working environment of the interns. The HYAB promulgated the Youth Development Blueprint at the end of 2022, which proposed further strengthening of the breadth and depth of the Mainland and international internship and exchange programmes with a view to enhancing young people’s understanding of the development of the country and the world. In 2024, the HYAB collaborated with the United Nations Volunteers, the Agency for Volunteer Service, the Hong Kong Volunteers Association and the Peace and Development Foundation to launch a new round of the United Nations Volunteers – Hong Kong Universities Volunteer Internship Programme, offering a total of 25 internship positions under various United Nations agencies and expanding to more countries along the Belt and Road region. Hong Kong university students participating in the programme will have the opportunity to undertake six-month voluntary internships at United Nations field units located overseas, which will enable them to develop their personal capabilities while contributing to the international community as Chinese youth volunteers.
      
     Miss Mak said that 130 Hong Kong university students have participated in the programme so far. They had the opportunity to gain first-hand experience in the country’s involvement in international affairs and understand China’s contributions and influences on the global landscape, thereby deepening their understanding of Hong Kong’s role and positioning. The HYAB will continue to leverage Hong Kong’s unique advantages to actively promote exchanges among young people in Hong Kong, the Mainland, and overseas.
      
     Miss Mak will arrive in Hanoi, Vietnam, in the evening, and will continue her visit tomorrow (December 12).

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     The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (December 11) that in view of a notification from the Ministry of Agriculture, Forestry and Fisheries of Japan about an outb… read more