The Secretary for Justice, Mr Paul Lam, SC, leading a Hong Kong delegation of over 30 representatives of foreign-related legal talent from Hong Kong, began his visit to the Mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) today (December 5). The delegation comprises office bearers of the Law Society of Hong Kong and the Hong Kong Bar Association, as well as representatives from local, international and registered foreign law firms, including various non-Chinese lawyers and GBA Lawyers. Upon arrival at the first stop of the visit, Guangzhou, the delegation visited the People's Government of Guangdong Province and met with representatives from the local legal and business sectors.

     In the morning, Mr Lam called on the People's Government of Guangdong Province and met with Vice-Governor of Guangdong Province Mr Liu Guozhou. A meeting was held between the two sides, and was joined by the Department of Justice of Guangdong Province, the Guangdong Provincial Development and Reform Commission, the State-owned Assets Supervision and Administration Commission of the People's Government of Guangdong Province and the Department of Commerce of Guangdong Province, as well as the Hong Kong and Macao Affairs Office of the State Council, the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, and the Hong Kong and Macao Affairs Office of Guangdong Province to learn about the latest developments in Guangdong Province and the GBA. They also exchanged views on the opportunities for further co-operation between the Hong Kong legal sector, and the Mainland authorities, legal and business sectors.

     In the afternoon, Mr Lam and the delegation held discussions with representatives from the Guangdong legal and business sectors, including the China Council for the Promotion of International Trade Guangdong Committee, the Guangdong Lawyers Association, the Guangdong Association of Enterprises with Foreign Investment and the Guangdong Federation of Industry and Commerce. Through exchanges on common practical issues, the two sides explored foreign-related legal issues relevant to Guangdong enterprises going global, including corporate finance and the handling of foreign-related commercial disputes, and shared practical experiences in tackling those issues. The participants also explored how law firms in both places can further co-operate and provide high-quality legal services to jointly contribute to the construction of the country's foreign-related rule of law.

     In the evening, Mr Lam and the delegation will visit one of the heritage revitalisation and conservation projects in Guangzhou, the Shamian Cluster, which is a national heritage conservation unit listed by the State Council.

     Mr Lam and his delegation will depart for Shenzhen tomorrow (December 6) to continue their GBA visit.

            

     Sure Able Limited and a crane operator were fined $83,000 and $80,000 respectively at the Tuen Mun Magistrates' Courts today (December 5). The prosecutions were launched by the Labour Department.
      
     Sure Able Limited violated the Factories and Industrial Undertakings Ordinance whereas the crane operator violated the Factories and Industrial Undertakings (Lifting Appliances and Lifting Gear) Regulations.
      
     The case involved a fatal accident that occurred on December 8, 2022, at a recycling yard in Tuen Mun. A lorry-mounted crane in use overturned and bumped into a stack of metal channels causing the metal channels to collapse. The collapsed metal channels struck a staff member of the yard. The staff member sustained serious head injuries and passed away on the same day.

     â€‹Invest Hong Kong (InvestHK) announced today (December 5) that the Mainland hotpot chain Baheli Beef Hotpot has opened its first store in Hong Kong, leveraging the city's status as an international business hub to raise its brand awareness globally.

     Associate Director-General of Investment Promotion Mr Arnold Lau said, "Hong Kong is a gourmet hub catering for customers from the East and the West. Mainland restaurants can leverage Hong Kong's unique positioning and business advantages to accelerate their overseas expansion. I wish Baheli Beef Hotpot great success in its business."

     The Project Leader of Hong Kong Baheli Catering Management, Mr Xu Longyi, said, "Baheli Beef Hotpot, which originated in Shantou, has been awarded intangible cultural heritage status and is a representative of Chaozhou-Shantou (Chao-Shan)-styled cuisine. We value cleaver techniques, and our experienced butcher chefs prepare plates of freshly cut meat of different thicknesses according to the characteristics of different parts of the beef, striving to allow diners to experience the flavour of Chao-Shan beef hotpot. Hong Kong people have a strong interest in high-quality and distinctive food, which coincides with our market positioning and should therefore offer us a wider market segment for the brand. We hope that our establishment in the city can further enhance our brand recognition and expand our clientele."

     Xu added, "Hong Kong's excellent business environment, legal system, government assistance, and financial infrastructure provide solid support for Baheli Beef Hotpot's operations in the city. We already have plans to open two to three more stores in the near future."

     He continued, "The cultural exchange and economic ties between Hong Kong and the Mainland are becoming closer as the Guangdong-Hong Kong-Macao Greater Bay Area develops. By opening stores in Hong Kong, we are able to further integrate into the area's development plan and share our resources and advantages accumulated on the Mainland."

     Baheli Beef Hotpot currently operates over 200 stores across the Mainland. The group has established its own supply chain management system to maintain high-quality standards in beef processing. The Hong Kong office will handle daily operations and supply chain management for the stores in Hong Kong.

     For more information about Baheli Beef Hotpot, please visit cyjm888.gzmc168.cn/.

     To get a copy of the photos, please visit www.flickr.com/photos/investhk/albums/72177720322370851.

    

     The Digital Policy Office (DPO) is staging the Hong Kong Innovation Pavilion (the Pavilion) at the Entrepreneur Day (E-Day) organised by the Hong Kong Trade Development Council (HKTDC) for two consecutive days starting today (December 5). The Pavilion, in its inaugural edition, showcases over 30 local award-winning innovation and technology (I&T) projects across four dedicated zones: "Smart Living", "Smart People", "Smart Economy" and "Smart Mobility", with a view to commending exemplary local innovations and promoting award-winning and marketable projects.
 
     On opening day, the Under Secretary for Innovation, Technology and Industry, Ms Lillian Cheong, and the Commissioner for Digital Policy, Mr Tony Wong, toured the Pavilion. Supporting start-ups is a crucial component in enhancing the I&T industry chain. Apart from regularly organising I&T competitions, the DPO also actively develops diverse promotional platforms for winning enterprises, such as funding winning enterprises to showcase their innovative solutions and explore business opportunities at large-scale local, Mainland and overseas technology exhibitions. Furthermore, the DPO supports outstanding projects to compete in national and international I&T competitions to demonstrate the exemplary achievements of Hong Kong's I&T sector and promote exchanges as well as collaboration between winners and I&T talent locally and abroad, thereby strengthening Hong Kong's position as an international I&T centre.
 
     Moreover, the DPO also organised the Innovation Frontiers: Elite Winners Dialogue sharing session today, with Mr Wong delivering his opening remarks. He said that the Hong Kong Innovation Pavilion serves as an excellent promotional platform for award-winning companies to showcase their outstanding projects. By engaging in exchanges with potential customers and investors, the companies can take the opportunity to further broaden their business rapport and network. With its unwavering support to the growth of local start-ups, the Hong Kong Special Administrative Region Government is committed to enhancing the I&T industry chain and contributing to the high-quality development of new, quality productive forces for both the nation and Hong Kong, thereby accelerating the development of a digital economy and smart city concept in Hong Kong. At the sharing session, representatives of award-winning enterprises elaborated on artificial intelligence (AI) applications and breakthroughs across a wide variety of domains including digital entertainment, educational technology, fintech and healthcare technology. They also shared their successful experiences on leveraging I&T to promote inclusive smart living.
 
     The winning solutions showcased at the Pavilion are from the Hong Kong ICT Awards 2024, the 2024 Maker in China SME Innovation and Entrepreneurship Global Contest – Hong Kong Chapter, and the Hong Kong/Shanghai Co-operation Open Data Challenge 2024. Through the Pavilion, the DPO hopes to allow all sectors of society to have a more in-depth understanding of outstanding local I&T achievements and jointly foster Hong Kong's I&T and smart city development.
 
     Following are some of the projects on display at the Pavilion:
 

• Smart Living: Featuring a surgical guidance platform employing augmented reality and AI technologies; it is the world's first AI-powered Internet of Things solution utilising sonar technology to monitor swimmers' safety. Also featured is a green AI-driven sorting system that revolutionises the recycling industry.

• Smart People: Showcasing latest technologies are products such as barrier-free city navigation, smart home and elderly care systems, as well as smart wearable devices to address the diverse needs of the public.

• Smart Economy: On display is the Digital Assets Automated Teller Machine, the world's first generative AI instant facial translation platform, as well as technology to allow the experience of a 3D real-time virtual reality interactive livestream space that combines AI and extended reality.

• Smart Mobility: Featuring a traffic data analytics system as the world's first micro mobility network powered by solar energy and wireless charging. Also on display is a smart hotel system solution for controlling in-room devices.

 
     The E-Day, with the theme of "Where Start-up Dreams Take Flight", is the HKTDC's anchor start-up event where entrepreneurs can connect with investors and partners, interact with industry leaders, and accelerate business development. Interested parties from the trade can register free of charge at the HKTDC's website (www.hktdc.com/event/eday/en).

        

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) launched a public consultation today (December 5) on proposed enhancements to the Banking Ordinance (Cap. 155).
      
     The Hong Kong banking system is robust, resilient and well regulated. However, given the rapid developments in the banking sector and the evolving domestic and international regulatory and supervisory landscape, it is important that the HKMA reviews and assesses the policy and legal framework for banking regulation and supervision in Hong Kong from time to time, so as to enable the Monetary Authority (MA) to effectively discharge his functions under the Banking Ordinance, especially in promoting the general stability and effective working of the banking system. 
      
     Against this backdrop, the HKMA has recently conducted a review of the Banking Ordinance to: (i) reflect developments in banking industry practices, and regulatory and supervisory approaches, both globally and domestically; (ii) address specific issues identified from Hong Kong's supervisory experience in the past; and (iii) continue the process of aligning the system of regulation in Hong Kong with that of other major financial centres. 
      
     The Banking Ordinance review focuses specifically on six priority areas where amendments and enhancements to the Banking Ordinance are considered timely and necessary. The aim is to enable the MA and the Hong Kong banking industry to better meet risks and challenges in times ahead. 
      
     The HKMA has earlier concluded public consultations on two enhancement proposals, in relation to: simplification of the three-tier banking system into two-tier, and information sharing among authorized institutions (AIs) on customers, accounts and transactions for the purpose of preventing and detecting financial crime. Relevant consultation conclusions were published on August 5, 2024 and September 30, 2024, respectively. In addition, the HKMA is reviewing the MA's enforcement powers, and an industry consultation is being conducted.
      
     The public consultation paper issued today sets out the enhancement proposals in three other aspects, which are: establishing a statutory regime for the regulation and supervision of designated locally incorporated holding companies of locally incorporated AIs; allowing flexibility for the MA to engage skilled persons for assisting the MA in the performance of his functions under the Banking Ordinance; and introducing a number of technical amendments.
      
     This consultation paper also includes proposed amendments to two other ordinances which have particular relevance for the banking sector, namely the Financial Institutions (Resolution) Ordinance (Cap. 628) and the Hong Kong Association of Banks Ordinance (Cap. 364). 
      
     The public consultation commences today and will last until January 28, 2025. The consultation paper is available on the HKMA website. Interested parties are invited to submit their comments by email to bo_review_consult@hkma.gov.hk or by post on or before the deadline.