​​The Commissioner for Tourism, Ms Vivian Sum, joined by the Travel Industry Authority, visited the Hong Kong Palace Museum and the Garden Road Peak Tram Station today (April 29) to monitor the preparatory work for rec… read more
Following is the speech by the Financial Secretary, Mr Paul Chan, at the GreenWay 2024 The Dialogue today (April 29):
Thomas (Head of European Union Office to Hong Kong and Macao, Mr Thomas Gnocchi), Iñaki (Chair of European Chamber of Commerce in Hong Kong, Mr Iñaki Amate), Betty (Chairman of the Hong Kong General Chamber of Commerce, Mrs Betty Yuen), Consuls-General, distinguished guests, ladies and gentlemen,
I have great pleasure in joining the Green Way Dialogue once again. It appears to me that this event, now in its third edition, is becoming an annual event where Hong Kong and the EU (European Union) engage in high-level and cross-sectoral dialogues on how we could work better together for a greener and more sustainable future. A very much welcome initiative indeed!
This afternoon, the Chief Executive gave an overview of Hong Kong’s green vision and policy priorities and our enormous room of green co-operation with the EU. The Under Secretary for Environment and Ecology also shared this Government’s efforts to reduce waste and promote the circular economy.
Just now, the European Chamber of Commerce and the Hong Kong General Chamber of Commerce have handed to us this year’s Green Way Recommendations. I thank you for the thoughtful efforts in producing them. I have taken a look at the recommendations in advance, and found many of them in congruence with this Government’s directions in pursuing sustainable development, and building Hong Kong as an international green tech and green finance centre.
Green tech and start-ups
Take, for example, your recommendation on bolstering start-ups and supporting an innovation-friendly eco-system. Start-ups are a powerhouse for many green innovative solutions, fully reflecting our younger generation’s passion for the environment and a sustainable future.
Last Friday, an innovative start up from Munich, Germany, won the championship of Hong Kong Science Park’s annual Elevator Pitch Competition, or EPiC. The competition is a launch pad for start-ups, which showcased to investors here and around the world their tech solutions in the areas of fintech, proptech and mobilitytech. The winner from Germany plans to establish a plant in Europe to recycle different types of lithium-ion batteries and recover the critical materials from them. I have to say I see good potential for it to secure investments from the city’s venture capitalists!
The winner of EPiC 2021 is in the business of making underwater clay reef tiles to help restore coral reef, an effort to support carbon sequestration through eco-engineering. Now it has expanded to the Middle East, with a production base in Abu Dhabi.
The start-up scene in the city is indeed promising. Hong Kong is home to more than 4 200 start-ups. The Government, as well as our two innovation and technology flagships, Science Park and Cyberport, is keenly providing seed capital and other incubation support to them. There is strong investment appetite in green ventures from private equity and venture capital investors in Hong Kong, who together manage around US$220 billion of assets.
The Hong Kong Investment Corporation Limited, or HKIC, which manages government funds to attract strategic companies and support tech innovation in Hong Kong and the Greater Bay Area, has also joined the effort to build the green tech ecosystem in the city. As I mentioned in the Budget speech, the first batch of the HKIC’s direct investment and co-investment projects will be implemented in the first half of this year, covering green tech and finance. With its pivotal role to channel capital and leverage market resources, I am sure the HKIC will bring further impetus to the ecosystem.
Green and sustainable finance
On green and sustainable finance, beyond being Asia’s No. 1 in issuing green bonds and debts, there is much more that Hong Kong can and needs to do.
One important dimension is the alignment of green standards. We have been developing a prototype green classification framework – in other words, a Hong Kong green taxonomy – that aligns with the Common Ground Taxonomy by China and the EU. Our taxonomy will initially encompass 12 economic activities across the four sectors that contribute to climate change mitigation, namely power generation, transportation, buildings, and water and waste management. Phase one of the taxonomy will be published very soon.
We are also fast-tracking the adoption of international standards on sustainability disclosure. We plan to launch a roadmap this year to implement disclosure standards of the International Sustainability Standards Board. We are striving to be among the world’s first jurisdictions to adopt them. In this connection, we have set out, in a recent policy statement, our vision to create a comprehensive ecosystem on sustainability disclosure. That includes developing sustainability assurance standards, capacity building to support the reporting by the financial industries and listed companies, facilitating the use of technological solutions in sustainability reporting, and more.
Another area that is gathering momentum is transition financing. That is, to assist high-emitting sectors and carbon intensive industries to switch to clean production and achieve net zero. Identifying transition activities and setting reduction targets are important for mainstreaming transition finance. That’s why in the next phase of the Hong Kong green taxonomy which I mentioned just now, we will expand the coverage of sectors and activities to cover transition activities. Meanwhile, in this year’s Budget, we have extended our subsidy scheme for green bond issuers and loan borrowers to cover also transition finance.
Green mobility
On green mobility, as you may know, we are committed to supporting green transportation and logistics. In the Policy Address and the recent Budget, we have set out concrete steps to support the adoption of sustainable aviation fuel in the city, provide maritime green bunkering, and incentivise Hong Kong-registered ships to decarbonise.
I note an interesting recommendation from you too – applying technology like sensors to promote fuel-saving driving habits among professional drivers. This is indeed an area where AI and big data analytics could be of great assistance. I have seen many such innovative solutions on the Mainland. For instance, in my recent visit to Hangzhou and Suzhou, I met with a young entrepreneur. His company specialises in using AI and big data that not only help truck drivers enhance driving safety, but also boost truck energy efficiency by more than 8 per cent.
Many of these Mainland companies and start-ups are looking to Hong Kong to establish their international headquarters. We are keen to help them connect with users and partners in the EU and the world beyond.
Green supply chain management
Finally, on your recommendation to utilise Hong Kong’s role as a trading and sourcing hub to drive the global adoption of sustainable supply chains. I agree we can play an active role. In light of our country’s high-level opening up, and shifting landscapes of the international industrial and supply chains, I have envisioned Hong Kong to become a multinational supply chain management centre for Mainland manufacturing enterprises. The world is certainly looking to more environmentally responsible production. Hong Kong can certainly contribute.
Our financial and professional services are resourceful and familiar with the international market and standards. We are in the best position to help Mainland enterprises better embrace ESG (environment, social and governance) standards and comply with international rules. We will work to provide one-stop ESG consulting, corporate training and other support services to help these enterprises prevail in an international market that is increasingly demanding on the environmental front.
Concluding remarks
Ladies and gentlemen, in the above endeavours, and in waste management, in improving the built environment, in education and nurturing talent, and many more areas, Hong Kong and the EU have a lot to collaborate. More than contributing to the global sustainable development and humanity’s shared future, we will create vast and boundless business opportunities together. We warmly welcome our EU friends and partners – whether they come from the government, business, academic institutions or NGOs – to join us and build this bright green future together.
I wish you all the best of health and sustainability in the years to come. Thank you very much.
The Working Group on Patriotic Education under the Constitution and Basic Law Promotion Steering Committee (CBLPSC) held its first meeting today (April 29), with a view to harnessing collective wisdom and insights on the work strategy, direction and plan of implementing patriotic education.
The Chairman of the CBLPSC and the Chief Secretary for Administration, Mr Chan Kwok-ki, said, “The clear objective set down by the Working Group at today’s meeting is to make patriotism with affection to our country and Hong Kong a mainstream core value in Hong Kong, enabling the spirit of patriotism to take root in society and people’s heart such that members of the public would proactively and consciously safeguard national sovereignty, unity and territorial integrity.
“On taking forward patriotic education in Hong Kong, the Working Group has set a clear direction, that is to dovetail with the Patriotic Education Law of the People’s Republic of China, while at the same time adjust suitably having regard to the actual circumstances in Hong Kong. The Working Group will correspondingly tender advice on policy measures for effectively promoting patriotic education.”
Mr Chan emphasised, “Patriotic education is a long-term work that requires continuous and dedicated efforts. The Working Group will take into consideration the characteristics of different groups in society, and adopt diverse and appropriate methods to assist the CBLPSC in taking forward patriotic education in an all-round manner, so as to comprehensively establish and robustly promote the mainstream values characterised by patriotism with affection for our country and Hong Kong and in conformity with the principle of ‘one country, two systems’.”
The Convenor of the Working Group, Ms Starry Lee, said that the Working Group would set up four sub-groups to carry out relevant co-ordination and research work in four aspects, namely school education; local community; history, politics, economy and culture; and media publicity. In addition, the Working Group will commence work in the following two areas:
(1) To leverage the celebration of the 75th anniversary of the founding of the People’s Republic of China as an entry point with the theme of “Love our Country, Love Hong Kong, Love our Community”, and work closely with government bureaux and departments to inject and feature the spirit of patriotism in different National Day celebration activities this year, with an aim to enhancing the awareness of patriotism of the whole society; and
(2) To perform overall co-ordination and conduct research, including setting up a designated email address, patrioticeducation@cmab.gov.hk, as announced today on the Basic Law website and the website of the Constitutional and Mainland Affairs Bureau to invite all sectors of the community to offer views and suggestions on how to promote patriotic education more effectively.
Established earlier this month, the Working Group aims to co-ordinate the work of government departments and non-governmental organisations in taking forward patriotic education and dovetailing with the Patriotic Education Law of the People’s Republic of China, with a view to enhancing education on our country’s history, culture and current affairs on different fronts, promoting patriotism and ensuring its continuity from generation to generation. The membership of the Working Group comprises the relevant directors of bureaux, heads of departments and leaders from the relevant sectors of society.
The following is issued on behalf of the Hospital Authority:
The Hospital Authority (HA) today (April 29) hosted a welcome ceremony to greet more than 100 Guangdong healthcare professionals, who came to Hong Kong for the Greater Bay Area Healthcare Talents Visiting Programmes that aim to uplift the quality of healthcare sectors in Hong Kong and Guangdong.
The Secretary for Health, Professor Lo Chung-mau, welcomed the healthcare professionals from Guangdong Province, “On behalf of the Hong Kong Special Administrative Region Government, I extend a warm welcome to the doctors, nurses, and Chinese medicine experts from Guangdong Province participating in the second batch of the Greater Bay Area Healthcare Talents Visiting Programmes. The visiting programmes facilitate bilateral on-site clinical training between healthcare professionals in Hong Kong and Guangdong Province, aiming to improve the quality of medical services in both public healthcare systems. Since the launch of the visiting programmes in the fourth quarter of 2022, I am delighted to see not only an increase in the quantity of exchanges but also an improvement in the quality. The participating healthcare professionals have expanded to various specialties. This will generate a synergy effect in terms of healthcare manpower and service quality, contributing to the establishment of a talent pool and the enhancement of medical standards in the Greater Bay Area, ultimately benefitting patients in the long run.”
Deputy Director-General of the Health Commission of Guangdong Province, Mr Deng Linfeng thanked the Health Bureau and the HA for their arrangements. Mr Deng said, “The doctors, nurses and Chinese medicine practitioners participating in the programmes are all experts and mainstays of the Mainland medical institutions. Through the programmes, I hope that we can learn from our fellows in Hong Kong and complement each other, as well as deepen our co-operation to enhance the medical services to bring substantial benefits to each other.”
The HA Chairman, Mr Henry Fan, said, “The healthcare professionals from the two places who participated in the programme gave positive feedback to the exchanges. They have learned from each other and broadened their horizons. The HA will continue building co-operative and friendly relations with the Health Commission of Guangdong Province and undertake more extensive and in-depth co-operative projects in both places.” He supplemented that International Nurses’ Day is only two weeks away. He took the opportunity to express his gratitude to the nurses who participate in the exchanges, who embody the spirit of Nightingale and safeguard the health of patients.
Deputy Director-General of the Co-ordination Department of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Mr Chen Zetao and the HA Chief Executive, Dr Tony Ko, also attended the ceremony.
The participating healthcare professionals arrived in Hong Kong earlier, with two doctors already engaging in exchanges and clinical work at Prince of Wales Hospital and Hong Kong Eye Hospital. Arrangements have been made for approximately 100 nurses to undergo exchanges in different hospitals of the seven clusters, learning various nursing specialist knowledge and clinical work. As for the 13 Chinese medicine experts participating in the programmes, they have already participated in the clinical training of Integrated Chinese and Western Medicine in groups at different hospitals. In addition, the HA has received support from the Health Commission of Guangdong Province to expand the specialties and the number of participants in the second phase of the doctor-visiting programmes. Apart from the two ophthalmologists who have already arrived in Hong Kong, it is expected that more doctors will come to Hong Kong for exchanges this year, surpassing the participant count of the first phase.
The Civil Service College (CSC) has launched the Executive Series on “Connecting with the World – ASEAN”. The third seminar in the series, on the topic of “Opportunities and Challenges from Regional Trade Agreements under the New World Order”, was delivered by Lead Advisor (Southeast Asia Region) of the Economic Research Institute for ASEAN and East Asia Dr Lili Yan Ing, at the CSC today (April 29).
Addressing the seminar, the Head of the CSC, Mr Oscar Kwok, said the Executive Series is one of the CSC’s key initiatives to develop civil servants’ international perspectives. The subject of today’s seminar is regional trade agreements, which serve as an anchor of common visions and rules shared by their signatories. They not only open doors to economic development, but also establish a network of trusted partners that can bolster signatories’ ability to weather storms and navigate volatility and uncertainty. Hong Kong, as a crucial bridge connecting the country with the world and with close trading relationships across Association of Southeast Asian Nations (ASEAN) countries, can play a unique role in adding value to regional trade agreements and co-operation while capitalising on new opportunities to boost the local economy.
About 150 civil servants in the directorate and senior ranks from 44 bureaux/departments attended the seminar today, including officers from Hong Kong, and from Mainland Offices and overseas Economic and Trade Offices of the Government in Shanghai, Bangkok, Berlin, Dubai, Geneva and Jakarta who joined the seminar via video conferencing.
The Executive Series on “Connecting with the World – ASEAN” is designed to further broaden the international perspective of directorate and senior civil servants. It covers subjects pertaining to the changing international dynamics and the development of ASEAN countries, including economies of emerging markets, opportunities and challenges from the Regional Comprehensive Economic Partnership, the role and positioning of ASEAN, and diversity of ASEAN economies. Prominent experts are invited to speak and engage in in-depth discussions with participants.
