Tag Archives: China

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LCQ8: Assisting enterprises to develop the Mainland domestic sales market and emerging markets

     Following is a question by the Hon Sunny Tan and a written reply by the Secretary for Commerce and Economic Development, Mr Algernon Yau, in the Legislative Council today (December 6):
 
Question:
 
     In October this year, the State President announced the eight major steps to support high-quality Belt and Road (B&R) co-operation, including the establishment of pilot zones for Silk Road e-commerce co-operation. On the other hand, the 2023 Policy Address has put forth a series of support measures for small and medium enterprises (SMEs) to develop the Mainland domestic sales market and emerging markets in the B&R countries and regions including the member states of the Association of Southeast Asian Nations (ASEAN) and the Middle East region, such as launching “E-commerce Easy” under the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund), as well as strengthening export credit insurance. In this connection, will the Government inform this Council:
 
(1) of the measures and policies in place to support enterprises, in particular SMEs, in grasping the great opportunities presented by Silk Road e-commerce;
 
(2) whether it will, by drawing reference from the launch of “Easy BUD” under the BUD Fund, extend the measures for shortening the application processing time and streamlining the procurement requirements to the funding schemes for SMEs such as the SME Export Marketing Fund, in order to further assist SMEs in grasping the opportunities in the Mainland domestic sales market and emerging markets; and
 
(3) given that the 2023 Policy Address has proposed to raise the statutory cap on the contingent liability of the Hong Kong Export Credit Insurance Corporation (HKECIC) to $80 billion and that the HKECIC will upgrade its free credit check services for policyholders regarding buyers from the 10 ASEAN member states, whether the Government will further study the provision of financial and policy support for the HKECIC to assume more risks in respect of export credit insurance taken out by Hong Kong exporters for the Mainland domestic sales market and emerging markets?
 
Reply:
 
President,
 
     Hong Kong is an active participant, contributor and beneficiary of the Belt and Road Initiative. We have been fully participating in and contributing to the Belt and Road Initiative, serving as the functional platform for the Belt and Road. President Xi Jinping announced the eight major steps to bring Belt and Road co-operation to a new stage of high-quality development. Hong Kong has the unique advantage of enjoying the Mainland’s strong support and being closely connected to the world to serve our functional platform role and utilise our experience gained in high-quality development to actively contribute towards these eight major steps. Apart from continuing to serve as a “super connector”, Hong Kong will also leverage our strengths to be the “super value-adder” for the next stage of our country’s Belt and Road development.
 
     The Government will continue to establish and make use of various collaboration platforms to promote co-operation between Hong Kong and the Belt and Road countries in trade and commerce, professional services and cultural exchanges, including the organisation of government-level promotion events/exchange and sharing sessions, the annual Belt and Road Summit, exchange and sharing sessions for enterprises, seminars, project-matching meetings. Also, with a view to assisting Hong Kong enterprises in understanding the markets and investment potential of the Belt and Road countries and seizing new business opportunities, the Government will continue to organise missions to regions such as the Association of Southeast Asian Nations (ASEAN), the Middle East and Central Asia to strengthen connections with their counterparts therein.
 
     Our reply to the three parts of the question is as follows.
 
(1) In view of the rapid growth of electronic commerce (e-commerce) business worldwide, in particular the vast domestic sales and e-commerce markets on the Mainland, the Chief Executive announced in the 2023 Policy Address a range of measures to enable Hong Kong’s small and medium enterprises (SMEs) to seize opportunities and address challenges, including establishing the inter-departmental E-commerce Development Task Force by the Commerce and Economic Development Bureau to implement policies assisting SMEs in developing e‑commerce business on the Mainland; organising Hong Kong Shopping Festivals on e-commerce platforms through the Hong Kong Trade Development Council (HKTDC); launching “E-commerce Easy” under the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) to provide funding support of up to $1 million per enterprise for the implementation of e-commerce projects on the Mainland; and the Support and Consultation Centre for SMEs under the Trade and Industry Department (TID) taking lead and co-operating with the other three SME centres (the “SME Centre” under the HKTDC, the “SME One” under the Hong Kong Productivity Council, and TecONE under the Hong Kong Science and Technology Parks Corporation) to strengthen the provision of information on conducting e-commerce on the Mainland, with a view to enabling SMEs to leverage e-commerce to promote awareness of Hong Kong brands for developing the Mainland domestic sales market.
 
     The Government will review the effectiveness of the aforementioned new measures in due course for further considering the way forward and the work to assist SMEs in developing e-commerce business.
 
(2) The performance pledge of the SME Export Marketing Fund (EMF) in processing applications is the same as that of “Easy BUD” under the BUD Fund, i.e. completing the processing of an application within 30 working days. The funding schemes administered by the TID, including the EMF, the BUD Fund and the Trade and Industrial Organisation Support Fund, have all adopted streamlined procurement requirements.
 
     The TID will review continuously the operation of its funding schemes, so as to strike a reasonable balance between providing appropriate support for SMEs and safeguarding the proper use of public funds.
 
(3) The Hong Kong Export Credit Insurance Corporation (ECIC) was established in 1966 under the Hong Kong Export Credit Insurance Corporation Ordinance (Cap. 1115) (Ordinance), to provide Hong Kong exporters with export credit insurance to reduce the risk that exporters would not receive payment due to commercial or political events, thereby promoting and supporting the export trade.
 
     Section 18 of the Ordinance stipulates that the Government shall guarantee the payment of all moneys due by the ECIC, while section 23 stipulates that the contingent liability of the ECIC under contracts of insurance shall not at any time exceed the sum as determined by the Legislative Council (LegCo) by resolution. Currently, the statutory maximum liability of the ECIC stands at $55 billion, as determined by LegCo by resolution in 2017.
 
     In the last few years, the ECIC has, amidst an uncertain economic and geopolitical environment, enhanced its support to exporters through measures such as the “100% Credit Limit Top-Up Scheme”. As at end October 2023, the aggregate maximum liability of the ECIC under all of its valid policies amounted to around $47 billion, close to its statutory maximum liability. In light of Hong Kong’s resumption of normalcy and the gradual recovery of the global economy, the Chief Executive announced in the 2023 Policy Address that the Government would move a resolution in LegCo to raise the ECIC’s statutory maximum liability from $55 billion to $80 billion, to ensure that the ECIC would possess sufficient underwriting capacity to continue to support Hong Kong exporters, especially companies seeking to expand into the Mainland and ASEAN markets. This significant increase in the statutory maximum liability would allow the ECIC to expand its insurance coverage in different markets, thereby reinforcing market confidence and demonstrating the Government’s full support to the ECIC and Hong Kong exporters.
 
     As at end October 2023, the Mainland was the ECIC’s largest market in terms of insured business, accounting for 30.4 per cent of the ECIC’s total insured business; while ASEAN was the third largest, accounting for 7.2 per cent thereof. To assist exporters in expanding into the ASEAN market, it was also announced in the 2023 Policy Address that the ECIC will strengthen its free credit check services to provide more support to Hong Kong exporters seeking to expand their business in ASEAN. As for the Mainland market, the ECIC has collaborated with five banks to launch in June 2023 the “risk-sharing arrangement on domestic sales” on the Mainland, and will continue to discuss with its Mainland peers and credit agencies the possibility of co-operation, with a view to more effectively accessing credit information of Mainland buyers. read more

Government welcomes passage of Inland Revenue (Amendment) (Disposal Gain by Holder of Qualifying Equity Interests) Bill 2023

     The Government welcomes the passage of the Inland Revenue (Amendment) (Disposal Gain by Holder of Qualifying Equity Interests) Bill 2023 by the Legislative Council today (December 6). The Bill gives effect to the Tax Certainty Enhancement Scheme proposed in the 2023-24 Budget Speech to provide greater certainty of non-taxation of onshore gains on disposal of equity interests (the gains) that are of capital nature.

     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “Hong Kong is committed to improving the business environment so as to attract more enterprises to Hong Kong and drive economic growth. The Tax Certainty Enhancement Scheme provides businesses with upfront certainty of the non-taxation of onshore gains on disposal of equity interests that are of capital nature through the application of simple and clear rules. This will also expedite tax determination and reduce the compliance cost. All these serve to facilitate business expansion and restructuring as well as the development of Hong Kong as a premier platform for international investment and business activities.”

     Currently, the Inland Revenue Department (IRD) adopts a “badges of trade” approach, where considerations are given to the relevant facts and circumstances of the case, to determine the nature of the gains and whether the gains are subject to tax. Under the Tax Certainty Enhancement Scheme, the gains made by an investor entity will be treated as capital in nature and not chargeable to tax if the investor entity has held certain equity interests in the investee entity throughout the continuous period of 24 months immediately before the date of disposal and those equity interests having been held amount to at least 15 per cent of the total equity interests in the investee entity, subject to certain conditions imposed to uphold the integrity of Hong Kong’s tax system. This obviates the need for assessing the taxability of such gains based on the “badges of trade” approach.

     The Tax Certainty Enhancement Scheme introduced by Hong Kong stands out from similar schemes in other tax jurisdictions in terms of tax competitiveness by offering broader coverage for businesses and equity interests, along with a lower equity holding threshold. It also provides greater flexibility by allowing the minimum equity holding percentage of 15 per cent to be met by aggregating the equity interests held by the investor entity and its closely related entity/entities, and permitting the disposal of equity interests in tranches, subject to certain restrictions. There is no specified expiry date for the Tax Certainty Enhancement Scheme.

     The Bill as passed will be gazetted on December 15, 2023. The scheme will be applicable to the gains where the disposal occurs on or after January 1, 2024, and the gains accrued in the basis period for a year of assessment beginning on or after April 1, 2023.

     For more details, please visit the webpage of the IRD on the Tax Certainty Enhancement Scheme (www.ird.gov.hk/eng/tax/bus_taxcertainty.htm). read more

LCQ6: Enhancing support for middle-class people

     Following is a question by the Hon Lee Chun-keung and a reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (December 6):
 
Question:

     There are views that the middle class has all along “paid large amounts of tax but enjoyed few welfare benefits”, which, coupled with the current inflated commodity prices, high global interest rates and persistently high property prices, has increased their expenditure on aspects such as supporting parents, healthcare and children’s education, putting them under immense livelihood pressure. In this connection, will the Government inform this Council:

(1) whether it will set up a commission dedicated to the affairs of the middle class to comprehensively review the policies and measures relating to the middle class, and to put forward concrete and comprehensive corresponding strategies in a focused manner, so as to assist middle-class families in alleviating their burdens in life; if so, of the details; if not, the reasons for that;

(2) whether it has considered introducing tax allowance for children’s educational expenses to alleviate the burden on the middle class; if so, of the details; if not, the reasons for that; and

(3) as it is learnt that retired middle-class elderly people, especially retired civil servants and professionals, often live solely on their savings and are not eligible to apply for the Government’s cash welfare for the elderly other than the Old Age Allowance, or the Old Age Living Allowance which is subject to an asset test, whether the Government has considered enhancing the support for the middle-class elderly people; if so, of the details; if not, the reasons for that?

Reply:

President,

     First of all, I would like to express my appreciation to the Hon Lee Chun-keung for raising the question, which allows me to, on behalf of the Government, respond to an issue of public concern – how to support the middle class. Having consulted the Labour and Welfare Bureau and the Civil Service Bureau, we set out a consolidated reply as follows:

     As mentioned by the Chief Executive in his 2023 Policy Address, the Government aims to create “a vibrant economy for a caring community”, making Hong Kong a better place for different social groups. The Government will continue to strengthen the economy and improve people’s livelihoods through various policy measures, supporting Hong Kong’s pursuit of high-quality development and enhancing Hong Kong people’s quality of life. All these measures will also benefit the middle class.

     “Middle class” is a loosely-defined term with no universal definition. On one hand, the term could generally refer to one’s economic background, academic qualification, income or asset level. On the other hand, it may also reflect one’s lifestyle and values. Since there is no objective criterion to define middle-class individuals or households, it is difficult to formulate targeted policy measures to meet their specified needs. However, this definitely does not mean that the Government ignores the needs of the middle class. The Government conducts extensive consultations during the preparation of the Policy Address and the Budget. Members of the public may express their opinions through these channels, thus allowing us to fully consider different voices and formulate appropriate measures to respond to the needs of different groups in the society. The consultation exercise for the 2024-25 Budget has just been launched and we are more than willing to listen to suggestions from Members and the general public in this respect.
 
     With regards to supporting the middle-class people, one of the suggestions we often receive is that the Government should reduce the tax burden of the middle-class individuals as much as possible. When considering whether to adjust recurrent tax measures, such as providing new allowance or deduction items, we must carefully examine the impact of such proposals on public finance and whether they are in line with the simple and fair principles of our tax regime, so as to strike a balance between reducing the tax burden of taxpayers and maintaining healthy public finance.
 
     In fact, Hong Kong has all along been maintaining a simple and low tax regime. Regarding salaries tax, the tax liability is calculated based on either the taxpayer’s net chargeable income at progressive tax rates or the taxpayer’s net total income at the standard tax rate of 15 per cent, whichever is the lower. In other words, our salaries tax rate is capped at only 15 per cent. Compared to other tax jurisdictions, such as Singapore with a highest individual income tax rate of 24 per cent starting from the year of assessment 2024 and the United Kingdom with a highest individual income tax rate of 45 per cent, Hong Kong’s salaries tax rate is at a relatively low level globally. Furthermore, Hong Kong also provides generous allowances under salaries tax. In the year of assessment 2021/22, even before the implementation of one-off tax reduction measure, the overall average effective tax rate for salaries taxpayers was only about 8 per cent, which represents a very light tax burden.
 
     To alleviate the burden on taxpayers in supporting their children, the Government has increased the basic child allowance and the additional child allowance for each child born during the year of assessment under salaries tax and tax under personal assessment from $120,000 to $130,000 starting from the year of assessment 2023/24, as proposed in the 2023-24 Budget. As regards educational expenses for children, it was announced in the 2019 Policy Address that the provision of the student grant would be regularised starting from the 2020/21 school year, with secondary day school, primary school and kindergarten students each entitling to an annual grant of $2,500. In addition to these measures, the Government has over the years also introduced one-off relief measures under the Budgets in a timely manner, such as providing tax concessions to taxpayers under salaries tax and tax under personal assessment, providing rates concession, paying the examination fees for school candidates sitting for the Hong Kong Diploma of Secondary Education Examination, etc. All these measures have helped relieve the tax burden on the middle class and other taxpayers.
 
     Besides, I must point out that the Government implements a non-contributory social security system to provide suitable cash assistance for needy people, comprising the Comprehensive Social Security Assistance Scheme and the Social Security Allowance Scheme (which includes the Old Age Living Allowance, Old Age Allowance and Disability Allowance). Currently, about 1.24 million (or more than 70 per cent of) Hong Kong elderly people aged 65 or above are social security recipients. Most of the cash assistance schemes are means-tested to echo their aims of assisting those persons in need of financial support. Retired civil servants are also eligible for retirement benefits as specified in their terms of appointment. While we understand that Members are concerned about the retired middle-class elderly, the Government also has to balance the needs of different classes and ensure the proper use of public funds when formulating policies.
 
     In any event, the Government highly recognises the important contributions made by the middle-class individuals to the society and understands that many people are concerned about the problems and challenges faced by the middle class. When formulating relevant policies, we will work with relevant policy bureaux to study the relevant issues, carefully consider the views of Members, and continue to assist the middle-class individuals in overcoming difficulties and challenges and making more contributions to the society and economy of Hong Kong. As I mentioned earlier, the consultation exercise for the next financial year’s Budget has just begun. We will continue to listen to the views of various sectors of the community.
 
     Thank you, President. read more

Speech by SJ at plenary session of 13th China-ASEAN Prosecutors-General Conference in Vietnam (English only) (with photos)

     Following is the speech by the Secretary for Justice, Mr Paul Lam, SC, at the plenary session of the 13th China-ASEAN Prosecutors-General Conference in Vietnam today (December 6):

Mr Chairman, Your Excellencies, distinguished guests, ladies and gentlemen,

     I am very honoured to have been invited to attend the 13th China-ASEAN Prosecutors-General Conference as a member of the Chinese delegation and also the head of the delegation of the Hong Kong Special Administrative Region (HKSAR) of the People’s Republic of China. It gives me great pleasure to address this distinguished audience on the important and timely topic of strengthening international co-operation in the prevention and fight against cybercrimes and transnational crimes.

     Before I do so, may I thank Your Excellency Mr Le Minh Tri, Prosecutor General, Supreme People’s Procuracy of the Socialist Republic of Vietnam, for the generous hospitality and assistance that have been provided to the Hong Kong delegation since our arrival. I must also congratulate Your Excellency on the arrangements which have been made to ensure the success of this important conference.

The changing face of crime in the 21st century

     Technology is advancing at an unprecedented pace. And in recent years we have seen a sharp increase in the number of crimes featuring a technological dimension. In Hong Kong alone, the number of reported cybercrime cases has increased four times over the past six years, from around 5 500 in 2017 to over 22 000 in 2022. The amount of financial loss resulting from such cases has also increased, from around HK$1,393 million in 2017 to a staggering HK$3,215 million in 2022.

     Apart from inflicting economic loss and causing substantial harm to individuals and businesses, technological or high-tech crimes pose a real and serious threat to national security. The cyberspace presents risks of unauthorised access and organised attacks on national information systems, and may be exploited as a means through which political agendas endangering national security may be pursued.

     Technology has enabled crimes to transcend jurisdictional boundaries. A cyber-criminal in one jurisdiction may cause criminal acts to be committed in multiple jurisdictions. Evidence may be stored on computers or electronic devices in jurisdictions other than the one in which the illegal act is committed. In addition, the Internet allows communications to circle the globe instantaneously and often anonymously.

Challenges brought about by transnational technology crimes

     In my view, there are four principal challenges brought about by the transnational high-tech crimes.

     First, high-tech crimes call into question the adequacy of existing criminal laws in this respect. Existing laws may be inadequate in terms of both the substance and the extraterritorial effect. Offences currently enforced under the existing criminal laws may be inadequate in criminalising the wide spectrum of cyber-related misconduct. And the existing offences may also lack extraterritorial effect, the enforcement of which would require laws of different jurisdictions to maintain a proper balance between complying with public international law principles and ensuring the effective sanction of transnational crime. The absence of extraterritorial application of existing cybercrime offences are liable to make them ineffective in combatting high-tech crimes which involve a transnational character.

     The second challenge brought about by high-tech crimes is that they are very often much more difficult to detect than traditional crimes. Cyber-criminals are very good at using a variety of techniques to avoid detection. Coupled with the ease with which they can hide their identities in the virtual world, law enforcement agencies often face considerable challenges in detecting high-tech crimes and identifying the true criminals. Furthermore, investigations are easily hindered in case where evidence is scattered across multiple jurisdictions, or where there is inadequate or a lack of timely information and intelligence exchange.

     Third, cases of transnational technology crimes often involve evidence from overseas witnesses. Therefore, we need to ensure the evidence obtained from overseas jurisdictions will be admissible and acceptable in the court of law. And even where all the necessary evidence has been successfully gathered, witnesses may not be prepared to testify against the defendant, in particular where to do so would necessitate physical attendance in overseas criminal proceedings.

     Fourth, high-tech crimes may involve specialised knowledge such as cloud computing, the metaverse, and the Dark Web – areas which are also under constant development and changes. And our investigators and prosecutors may lack sufficient knowledge to catch up with the latest developments in this area in order to handle such cases competently and efficiently.

Building an international co-operative network for effectively fighting transnational technology crimes

     In the light of these challenges, closer cross-jurisdictional co-operation between law enforcement and prosecutorial agencies in fighting transnational high-tech crimes is of crucial importance.

     I would venture to suggest and highlight four corresponding aspects on which we should focus our joint efforts.

Comprehensive legal frameworks criminalising cyber-related conduct

     First, the establishment of a comprehensive legal framework to criminalise cyber-related misconduct. Up-to-date legal framework is an indispensable pre-requisite for successfully fighting technology crimes. We should consider to enact new laws to criminalise cyber-related misconduct and to make appropriate amendments to our existing substantive and procedural laws. Concerted effort should be made to ensure that our laws will have extraterritorial application to cater or tackle cyber offences insofar as necessary.

     In this regard, experience sharing among jurisdictions will be beneficial and conducive to the development of a more updated and comprehensive legal framework.

     In 2022, the Law Reform Commission of Hong Kong, following a comprehensive study of the laws of seven jurisdictions, recommended an enactment of a piece of bespoke legislation on cybercrime, which will introduce five new offences criminalising conduct such as illegal access to computer programmes and interception of computer systems. To allow for sufficient deterrent effect, a maximum sentence of 14 years’ imprisonment is recommended. Extraterritorial application of Hong Kong law on high-tech crimes is proposed in cases where the crime has connections to or has caused serious damage to Hong Kong.

     In addition, the Prosecutions Division of the Department of Justice of Hong Kong has recently established the new Technology Crime Sub-Division – a dedicated team of prosecutors who specialise in handling and prosecuting technology crime cases. These prosecutors work closely with cyber and forensic experts and the Police’s Cyber Security and Technology Crime Bureau. At present, the prosecutors from the Sub-Division are in the course of reviewing the adequacy and effectiveness of existing laws in combatting high-tech crimes.

International co-operation by law enforcement agencies

     Second, international co-operation by law enforcement agencies. We must work to strengthen international co-operation among law enforcement agencies of different jurisdictions. Multilateral information sharing and intelligence exchange relating to the identity and whereabouts of suspects, the movement of crime proceeds, trends and patterns of criminal activities, and the operation of criminal groups are of valuable assistance in the detection and investigation of technological crimes, in particular where they have an international dimension. Timely information and intelligence exchange may be achieved by arranging overseas postings of law enforcement officers to other jurisdictions, and making multilateral co-operative arrangements. To this end, insofar as Hong Kong is concerned, existing arrangements are in place for external co-operation with law enforcement agencies, including the Hong Kong Police Force, the Independent Commission Against Corruption, and the Customs and Excise Department.

Cross-jurisdictional measures facilitating effective prosecution

     Third, cross-jurisdictional measures to facilitate effective prosecution. Efforts should be made to ensure, insofar as possible, the implementation of cross-jurisdictional measures to facilitate effective prosecution. They will include mutual legal co-operation arrangements between jurisdictions, including mutual legal assistance in criminal matters (MLA) and surrender of fugitive offenders.

     The importance of MLA regimes in enabling efficient and effective investigations cannot be overemphasised. MLA arrangements are particularly pertinent to cases of transnational high-tech crimes, as they involve evidence located in more than one jurisdiction. To ensure timely preservation of relevant evidence, jurisdictions should jointly liaise and communicate, as far as possible, to ensure operational efficiency in the rendering of MLA, whether pursuant to formal MLA agreements or informal arrangements between jurisdictions on an ad hoc basis.

     In this regard, we must not allow geopolitical considerations to hinder international co-operation. It is most unfortunate that since the enactment of the Law of the People’s Republic of China on Safeguarding National Security in the HKSAR, a number of western countries have suspended MLA arrangements with Hong Kong. Such acts are against the common interests of the HKSAR and those other jurisdictions, and will limit our collective capacities to fight transnational crime.

     Efforts should also be made to devise specific mechanisms to enable the taking of oral testimony from witnesses located abroad. Such mechanisms are instrumental in cases where witnesses are not prepared to travel overseas to give evidence. For Hong Kong, there is a provision in our criminal procedural law empowering criminal Courts to, in appropriate cases, grant permission for witnesses to give evidence by way of a live television link from a place outside Hong Kong.

Robust training and development initiatives

     Fourth, robust training and development initiatives. In order to successfully fight transnational high-tech crimes, we must equip ourselves with sufficient knowledge of the subject matters involved.

     Joint training programmes on topics related to high-tech crimes, which may be delivered either in person or virtually, or both, would facilitate knowledge and experience exchanges. Insights can also be gained by these activities by exploring how law enforcement and prosecutorial agencies can better organise their institutional structures and daily operations to maximise capacity, resources, and the ability to tackle emerging high-tech crimes.

     Regular international conferences and symposiums, such as the present conference, along with meetings and working groups may also be organised.

     The Government of the HKSAR is committed to safeguarding the digital world and promoting the prevention of high-tech crimes. In September this year, Hong Kong held the International Symposium on Cyber Policing, bringing together more than 100 leaders of law enforcement agencies from around 40 jurisdictions, as well as academics and experts in digital communications, finance, innovation technology, and cyber security. Looking ahead, the HKSAR will host the 11th Asia and Pacific Regional Conference of the International Association of Prosecutors in November 2024, to discuss pertinent issues relating to the prosecution of technological crimes. I look forward to welcoming you all, and to further exchanging ideas on how we can strengthen our efforts to combat technology crimes on an international level.

Concluding remarks

     In conclusion, the fight against transnational high-tech crimes is bound to be very challenging. The fight can only be won if governments join hands to take effective measures locally, regionally, and globally, to strengthen co-operation at all levels and among all relevant agencies. As the saying goes, “Alone we can do so little, together we can do so much”. On the part of the HKSAR, I am sure and I would undertake that all branches of our Government will continue to promote international co-operation to combat high-tech crimes in all ways possible. We shall ensure that our world, whether physical or virtual, will not become a safe haven for cyber-criminals.

     On this note, may I once again congratulate the Supreme People’s Procuracy of the Socialist Republic of Vietnam for holding this important conference. My gratitude also goes to all the distinguished speakers for sharing their valuable insights and experience. Thank you very much.

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