Tag Archives: China

     To implement the policy measure relating to boosting sports promotion in the community as announced in the 2024 Policy Address, the Leisure and Cultural Services Department (LCSD) will regularise the Pilot Scheme on Subvention for New Sports and launch the Subvention Scheme for New Sports (SSNS) in 2025-26 for application by eligible sports organisations. The measure will support the long-term development of new sports. The SSNS is open for application from today (December 5) until January 13, 2025.
      
     The SSNS follows the modes of operation of the Pilot Scheme to provide subvention to local sports organisations for promoting new sports on a project base. Each successful applicant sports organisation will be offered a maximum of $200,000 ($180,000 for the year 2024-25), or 85 per cent of the total eligible expenditure of the individual activity, whichever is lower.
      
     A sports organisation wishing to apply for the subvention must be a non-profit-making organisation with Articles of Association registered as a company limited by guarantee under the Companies Ordinance (Cap. 622). The new sport under application must be distinct from the sports/disciplines currently solely governed by national sports associations under the Sports Federation & Olympic Committee of Hong Kong, China. The applicant organisation must also be recognised by and affiliated to the international federation, Asian federation, regional federation or recognised by the General Administration of Sport of China, and have successful experience in organising sports development programmes of various levels and types with active public participation in the past two-year period of 2023 to 2024.
      
     Applicant sports organisations will also need to provide a comprehensive long-term development and promotion plan, as well as relevant information on their competency in organising and arranging programmes. A well-established governance structure with transparent and accountable policies should also be in place and widely recognised by the sports sector.
      
     Priority will be given to the sports organisations that have never received subvention from the Pilot Scheme. If applicant sports organisations have previously received subvention from the Pilot Scheme, the LCSD will take into consideration their past performance and records when vetting their applications.
      
     For enquiries, please contact the Sports Funding Office of the LCSD at 2601 8756 or email ssns@lcsd.gov.hk. Please visit the LCSD’s website (www.lcsd.gov.hk/en/programmes/programmeslist/sss/ssns.html) for details. read more

     Hong Kong Customs earlier received information alleging that a scrap trader in Wan Chai was suspected of using an inaccurate electronic platform scale to weigh scrap metal.      Customs officers took enfo… read more

     Following are the opening remarks by the Permanent Secretary for Commerce and Economic Development, Ms Maggie Wong, at the Policy Dialogue Session of the Business of Intellectual Property (BIP) Asia Forum today (December 5):
 
Deputy Commissioner Hu (Deputy Commissioner of the China National Intellectual Property Administration Mr Hu Wenhui), Deputy Director-General Wang (Deputy Director-General of the World Intellectual Property Organization Ms Wang Binying), Chairman Norasingh (Chairman of the Association of Southeast Asian Nations Working Group on Intellectual Property Cooperation, Mr Xaysomphet Norasingh), distinguished guests, ladies and gentlemen,
 
     It is a true honour to stand before such a distinguished gathering of intellectual property (IP) leaders, experts and practitioners from around the world. We are all here today because we share a common belief that IP, being a cornerstone of innovation, is a powerful engine driving economic growth, societal progress and entrepreneurial success.
 
The power of IP in a transforming world
 
     At this critical juncture of global economic transformation, where technological advancements are accelerating faster than ever before, IP has become the bedrock that supports the creation, protection and commercialisation of ideas and innovation. The impact of IP on economic and social growth is profound, and our role as custodians of this system has never been more important.
 
     Today, I am proud to share with you how Hong Kong is advancing as a regional IP trading centre. As a city that thrives on entrepreneurship and creativity, Hong Kong understands that a robust IP ecosystem is essential for nurturing new ideas and innovations, turning them into tangible products and services, and ultimately bringing them to the local and global marketplace.
 
Strengthening IP legal frameworks for innovation
 
     Hong Kong’s innovation and technology sector and creative industries are brimming with potential, and we are taking concrete steps to strengthen the legal frameworks that protect the fruits of innovation and creativity. For example, as announced by the Chief Executive in his 2024 Policy Address, we will propose updates to the Copyright Ordinance next year to enhance the protection for artificial intelligence (AI) technology development. AI, as we all know, is transforming every walk of life across the globe, and ensuring that IP is safeguarded in AI-related development will be critical to fostering sustainable future social and economic growth.
 
     In addition, we will be launching a consultation in 2025 to modernise our registered designs regime currently under review, ensuring that it remains robust and agile to meet the evolving needs of the local industries and digital economy.
 
     To further enhance the IP landscape, we are also proposing legislative amendments to streamline the IP litigation processes, enabling the High Court to manage and hear such cases more efficiently.
 
     These efforts reflect our commitment to ensuring that our IP framework remains responsive to the unique challenges posed by emerging technologies, making Hong Kong’s IP framework more accessible and attractive to innovators and businesses.
 
Leveraging technology for IP services
 
     Beyond strengthening IP protections, we also focus on making the IP system more efficient and accessible. Next year, the Trade Marks Registry under the Intellectual Property Department will launch a new AI-assisted image search service, making it easier for the public and businesses to search our trademark database. This service will help streamline the trademark application process, encourage entrepreneurs to protect their brands and intellectual assets, and reduce barriers to entry for businesses seeking to expand their IP portfolios.
 
     Furthermore, we are proud that with the support of the Central Government, Hong Kong will participate in the World Intellectual Property Organization Lex-Judgments Database next year. By sharing important IP case precedents of Hong Kong courts, it will showcase to the international community our IP jurisprudence and reinforce Hong Kong’s reputation as a leader in IP enforcement and dispute resolution.
 
Fostering an IP-savvy workforce
 
     To foster an IP-savvy workforce, we are also partnering with the Qualifications Framework Secretariat to develop practical training materials across 23 industries and engaging with the patent agent sector to plan for the introduction of regulatory arrangements for local patent agent services. We will also double our efforts in IP education, outreaching to 200 000 students during this term of Government, up from our previous goal of 100 000. All these will provide personnel in a diverse range of sectors with the skills and knowledge needed to navigate the complexities of IP rights, equipping the next generation of innovators and entrepreneurs with the tools they need to thrive.
 
Conclusion: collaborating for a better tomorrow
 
     As we look to the future, in an era defined by rapid technological change and digital transformation, IP will continue to shape the trajectory of our economies and societies in profound ways. The various programmes in this year’s BIP Asia Forum will provide a valuable platform for us to share our ideas, experiences and best practices, with the common goal to strengthen the global IP ecosystem and ensure that it remains responsive to the challenges and opportunities ahead.
 
     With this note, let us make the best use of this Policy Dialogue Session to collaborate, innovate, and harness the power of IP for the benefit of all.
 
     Thank you. read more

     Following is the speech by the Chief Secretary for Administration, Mr Chan Kwok-ki, at the Business of Intellectual Property Asia Forum today (December 5):
 
Deputy Commissioner Hu Wenhui (Deputy Commissioner of the China National Intellectual Property Administration), Deputy Director-General Wang Binying (Deputy Director-General of the World Intellectual Property Organization), Dr Peter Lam (Chairman of the Hong Kong Trade Development Council), distinguished guests, ladies and gentlemen,
 
     Good morning. Welcome to Hong Kong, and to the 14th edition of the Business of Intellectual Property (IP) Asia Forum.
 
     This annual, two-day Forum is a global gathering. This year, about 2 000 IP owners, service providers and users from some 20 countries and regions are taking part. We are here to explore a crucial driver of our economic future: the development of intellectual property trading and its transformative potential, under the theme of “Reimagining IP for Impact and Growth.”
 
     With the support of our country through the National 14th Five-Year Plan, Hong Kong is committed to becoming a regional IP trading centre.
 
     And we are on our way. To illustrate with an example: a Hong Kong-based start-up, specialising in electricity-free cooling technology, has attracted nearly $100 million Hong Kong Dollars in its Series A round financing, taking full advantage of Hong Kong’s robust IP protection and extensive distribution networks.
 
     Partnering with local and international companies, it is advancing new technology research and development (R&D), expanding its product portfolio and bringing its technology to the global market.
 
     And it is only one of many Hong Kong success stories making use of their IP rights to generate growth.
 
     I invite you to check out Radio Television Hong Kong’s “IP: New Opportunities” programme for more inspiring Hong Kong stories. The success of these businesses is a testament to IP trading’s power in driving economic growth and job creation.
 
     The early stages of R&D require vigorous IP protection. And Hong Kong is committed to supporting our innovators. We are planning to establish a World Intellectual Property Organization Technology and Innovation Support Centre in Hong Kong, which is expected to commence operation by next year at the earliest. It will provide essential services to help our local entrepreneurs and businesses protect and commercialise their innovations.
 
     Our goal is to make it easy for our entrepreneurs and businesses to go from product concept to market launch, offering expert guidance, support and resources.
 
     And we are working to make it easy for you, too. Our “patent box” tax incentive, up and running since July, has reduced tax rates on qualifying IP profits from 16.5 per cent to 5 per cent. That can only encourage more R&D and IP trading.
 
     Our strategy for ensuring Hong Kong’s rise as a regional IP trading leader is built on two key pillars.
 
     First, enhancing IP infrastructure. We will update the Copyright Ordinance and revamp the registered design regime to meet demand, today and tomorrow. Legislative amendments will also be proposed to streamline IP litigation, allowing our courts to manage such cases more effectively.
 
     Second, we are building an IP-savvy workforce. Our Intellectual Property Department will work with the Qualifications Framework Secretariat to develop IP training materials for 23 industries. It will also advance our plans to introduce regulatory arrangements for local patent agents.
 
     Hong Kong’s IP strategy is evolving in a global context. As an international financial, trade and logistics centre, Hong Kong has long emphasised the importance of collaboration and knowledge sharing.
 
     And we will continue to do so, engaging with the world, particularly our ASEAN neighbours and countries along the Belt and Road, in sharing best practices and staying at the forefront of IP trends.
 
     Speaking of ASEAN, tomorrow’s Forum features a two-part session on ASEAN IP commercialisation. Organised by the ASEAN Secretariat and our Intellectual Property Department, it is focused on the arts, cultural and creative industries. The Global Tech Summit is on tomorrow, as well, examining the transformative impact of AI and other technology.
 
     And this afternoon, you will want to take in two highlight sessions on the Greater Bay Area and IP.
 
     Remember, too, that the Business of IP Asia Forum is part of Innovation and IP Week, running through December 7 and featuring seven events covering IP, technology, design and branding.
 
     My thanks to the Hong Kong Trade Development Council for bringing us together, once again, for this flagship event.
 
     Ladies and gentlemen, I wish you all a rewarding Forum and the best of IP business in the coming year.
 
     Thank you.

    

The following is issued on behalf of the Hong Kong Monetary Authority:        The Ministry of Finance will issue Renminbi Sovereign Bonds through the Central Moneymarkets Unit of the Hong Kong Monetary Authority (HKMA). Please fin… read more