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HKSAR Government strongly disapproves of untruthful and smearing remarks on Safeguarding National Security Ordinance by International Bar Association’s Human Rights Institute

     â€‹The Hong Kong Special Administrative Region (HKSAR) Government today (March 27) strongly disapproved of and condemned the slanders and smears, as well as unfounded criticisms, made by the International Bar Association’s Human Rights Institute (IBAHRI) against the Safeguarding National Security Ordinance (the Ordinance). Such remarks were made with extremely malicious intentions to mislead the international community into believing that the Ordinance runs contrary to the fundamental principles of international law, thereby creating a negative impression of the Ordinance.

     A spokesman for the HKSAR Government emphasised, “As a matter of fact, to effectively prevent, suppress and punish illegal acts endangering national security is precisely to better safeguard the fundamental rights and freedoms of individuals and ensure the property and investments in the HKSAR are protected by law. Protecting human rights and respecting the principle of the rule of law are the legislative principles of the Ordinance and have been included in the provisions. Article 2 of the Ordinance clearly stipulates that human rights are to be respected and protected. The rights and freedoms enjoyed under the Basic Law and the provisions of two international covenants as applied to the HKSAR are to be protected in accordance with the law, i.e. the rights and freedoms including the freedoms of speech, of the press and of publication, the freedoms of association, of assembly, of procession and of demonstration, are enjoyed and to be protected in accordance with the law under both the International Covenant on Civil and Political Rights and the International Covenant on Economic, Social and Cultural Rights as applied to the HKSAR. The critics not only neglected the provisions as well as the scope of application of the relevant international covenants, but also lashed out and smeared wantonly, fully exposing their malicious intentions to harm Hong Kong.”

     The spokesperson continued, “The offences endangering national security stipulated by the Ordinance target acts endangering national security with precision, and define the elements and penalties of the offences with clarity. The prosecution has the burden to prove beyond reasonable doubt that the defendant has the actus reus and mens rea of an offence before the defendant may be convicted by the court.”

     “Extraterritorial effect for the offences endangering national security under the Ordinance fully aligns with the principles of international law, international practice and common practice adopted in various countries and regions. It is both necessary and legitimate, and is also in line with those of other countries and regions around the world. It can be seen that the national security laws of various countries, including the United States (the US), the United Kingdom (the UK), Australia, Canada and the Member States of the European Union (the EU), also have extraterritorial effect under the ‘personality principle’ and the ‘protective principle’. In formulating the extraterritorial effect under the Ordinance, we have taken into account the principles of international law and international practice of state jurisdiction, as well as the nature of the offences. The critics’ remarks completely displayed their hypocrisy with double standards,” the spokesman continued.

     As regards the provisions on application to the court for imposing restrictions on consultation with legal representatives in the light of circumstances of endangering national security under the Ordinance, the spokesman emphasised that the provisions only temporarily delay the arrested persons’ right to consult legal representatives, and it will not affect the arrested persons’ right to confidential legal advice in accordance with the law and the choice of legal representatives. “According to the judgment of the European Court of Human Rights, an arrested person’s right to consult a legal representative may be temporarily restricted in exceptional circumstances where the government has compelling reasons to do so. Such restriction is permitted under the laws of, for instance, the UK, the EU, the US and Canada. Although the arrested person’s right to consult a legal representative is restricted to some extent, the investigating officers must still respect all relevant rights that the arrested person is entitled to under the law, including the right to silence. Overall, we believe that the restriction would not affect the right to a fair trial that the defendant enjoys,” the spokesman said.

     The spokesman reiterated, “During the public consultation of the Basic Law Article 23 legislation, 98.6 per cent of the submissions of opinions showed support and gave positive comments. After the Ordinance was passed by the Legislative Council unanimously on March 19, 2024, members of the public and various sectors of the community including the commercial sector and major chambers of commerce, the legal sector (including the Hong Kong Bar Association and the Law Society of Hong Kong), real estate association, the youth sector, other professional sectors and political parties, welcomed, voiced support and acknowledged that the legislation is the constitutional obligation the Government fulfilled to safeguard national security. The IBAHRI disregarded the support for the Ordinance from members of the public and wantonly attacked. The HKSAR Government expressed strong disapproval of such unfounded slanders again. read more

Wealth for Good in Hong Kong Summit concludes, reinforcing the city’s global leadership in family office industry (with photos)

     The highly anticipated second edition of the Wealth for Good in Hong Kong Summit (WGHK) concluded today (March 27), underscoring Hong Kong’s status as a premier international hub for global family offices and asset owners.

     Organised by the Financial Services and the Treasury Bureau (FSTB) in collaboration with Invest Hong Kong (InvestHK), the summit at the Grand Hyatt Hong Kong drew over 400 influential decision makers from global family offices and their professional teams spanning Hong Kong, the Mainland, Asia, Europe, the Americas, the Middle East and beyond.

     Featured summit panel discussions included key themes of “Luxury and Legacy”, “Green Technology”, “Philanthropy and Wealth Legacy”, and a session on family office development titled “Dream to Dynasty: Wealth Creation for Generations”. There were also two fireside chats discussing the journey from Hollywood to Silicon Valley and the rise of sports as an asset class, offering fresh perspectives to attendees on new and emerging investments for family offices.

     The enthusiasm and exchange of insights continued at the summit’s Gala Dinner in the evening, featuring a piano solo performance by internationally acclaimed pianist Niu Niu and concluding with world-renowned violinist Yao Jue.

     During the Gala Dinner, the Government announced the launch of a new philanthropic initiative, the “Impact Link” (iLink) under the Hong Kong Academy for Wealth Legacy (HKAWL). The iLink aims to attract, select and showcase high-potential and high-social impact charitable projects with demonstrated track records and potential for scalability to solve the most pressing challenges within and beyond Hong Kong. The iLink will start with crucial areas such as global public health, early life sciences research, poverty alleviation and development, education, youth empowerment, as well as community wellbeing empowered by the most cutting-edge technologies such as artificial intelligence, biotechnology, big data, and green technology. By leveraging the iLink’s power of bridging information on charity projects and building connections with stakeholders, family offices and asset owners can have easier access to vetted projects, conduct further assessments and make more informed decisions, facilitating their donations in creating larger impact.

     The iLink holds relevance to Hong Kong as a hub for global family offices, serving wealth owners as a base for deployment of charitable capital benefiting Hong Kong, the Mainland and the overseas. Philanthropic endeavours are increasingly relevant to family offices as they plan for their wealth legacy, transition and promoting social good.

     The iLink is bolstered by the support of esteemed organisations, including the Bill & Melinda Gates Foundation, Fondation de France Asia, the Institute of Philanthropy empowered by the Hong Kong Jockey Club, and the Yidan Prize Foundation. Also, the Li Ka Shing Faculty of Medicine at the University of Hong Kong, and the Faculty of Medicine at the Chinese University of Hong Kong will play an advisory role on life science related projects.

     The Chief Executive, Mr John Lee, hosted a principal dinner yesterday (March 26) to welcome participating guests from around the world.

     In his speech at the dinner, Mr Lee highlighted Hong Kong’s prowess as an international financial centre under the “one country, two systems” principle, including its leading role in the region in international bond issuance, risk management, cross-border wealth management and green financing. “These advantages, including the Hong Kong Special Administrative Region Government’s unwavering support for family offices, have been welcomed by family offices and high-net-worth individuals,” said Mr Lee.

     Mr Lee also noted that this year’s WGHK has brought together over 400 influential decision-makers and professionals from the world’s leading family offices, significantly larger than the scale of last year’s inaugural Summit. “Over 20 prominent speakers from around the world will detail how Hong Kong’s strategic location and forward-thinking initiatives can contribute to wealth creation, preservation, and succession among family offices. This convergence of minds is set to ignite fruitful dialogues and forge lasting partnerships,” Mr Lee said.

     The WGHK was opened today by the Financial Secretary, Mr Paul Chan who delivered welcome remarks. He said that Hong Kong is an ideal city for family offices, for the unique advantages it enjoys under the “one country, two systems” arrangement, with priority access to the Mainland market while upholding the international character of the city – practising the common law system, keeping the free flow of capital, talent, goods and information, and aligning with the best international standards. Hong Kong’s world-class financial services, convenient and unparalleled access to the Mainland’s capital market, low and simple tax system, excellent professional services and talent, are there to help family offices realise growth and development. The HKSAR Government is also committed to facilitating family offices in their work on philanthropy, green and impact investments, as well as arts and culture.
      
     Announcing the launch of the Impact Link during the Gala Dinner, Mr Paul Chan, said, “Hong Kong has a longstanding tradition of philanthropy, and we strive to become a global centre for philanthropy. To further this objective, I am delighted to announce our plan to launch “Impact Link” (iLink), a charity project depository under the Hong Kong Academy for Wealth Legacy. Connecting donors and charity projects, iLink will allow family offices and asset owners to make more informed decisions on charity projects, so that their contributions can create maximum impact.”

     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, also delivered remarks at the summit. He said, “We have been working tirelessly with partners and stakeholders to create an environment that not only preserves wealth but empowers family offices to grow in a way that benefits the greater good. Through key initiatives such as the new Capital Investment Entrant Scheme, tax concessions, and the establishment of the Hong Kong Academy of Wealth Legacy and many more, we have rolled out the red carpet, inviting family offices to make Hong Kong home.”

     The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, said, “We were delighted to reunite with familiar faces and welcome new connections within the global family office industry this year. The overwhelming responses we received have surpassed last year’s, with participants expressing keen interest in learning more about establishing a presence in Hong Kong. InvestHK and our dedicated FamilyOfficeHK team will continue to maintain close engagement with the global family office community and further promote Hong Kong in the year ahead.”

     The theme for this year’s WGHK, “Growing with Certainty Amid Growing Uncertainty,” seeks to demonstrate Hong Kong’s status as a top destination for global family offices and wealth owners. The city’s strategic location, vibrant financial ecosystem, and talented workforce with creative thinking make it a magnet for ultra-high-net-worth individuals. With a state-of-the-art infrastructure and a business-friendly environment, Hong Kong stays at the forefront of the family office and asset management industry.

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HKSAR Government strongly disapproves of and condemns extremely misleading report by BBC on Safeguarding National Security Ordinance

     The Hong Kong Special Administrative Region (HKSAR) Government today (March 27) strongly disapproved of and condemned the British Broadcasting Corporation (BBC)’s extremely misleading report about remission of sentence under the new Safeguarding National Security Ordinance (the Ordinance) and the fact-twisting remarks made by anti-China organisations and wanted persons having absconded overseas. It is necessary for the HKSAR Government to make a clarification to set the record straight.

     A spokesman for the HKSAR Government emphasised that no matter whether before or after the Ordinance comes into effect, the granting of early release is never a necessary right to prisoners. It is the duty of the Commissioner of Correctional Services to strictly enforce any prison sentence imposed by the court on each prisoner. Any discretion to grant early release of prisoners must be exercised in accordance with the law. The spokesman said, “There have been cases in which prisoners convicted of offences endangering national security absconded or continued to carry out acts and activities endangering national security when they were granted early release under supervision. In order to safeguard national security and protect the public, it is necessary to impose more stringent restrictions on the granting of early release to prisoners involved in offences endangering national security. This arrangement will not change the sentences imposed by the court on persons who have committed offences endangering national security. As such, it is not a question of whether this will in effect increase the sentences,” the spokesman said.

     “The Safeguarding National Security Ordinance makes amendments to the Post-Release Supervision of Prisoners Ordinance and the Post-Release Supervision of Prisoners Regulation: If a prisoner serves a sentence in respect of the prisoner’s conviction of an offence endangering national security, the Commissioner of Correctional Services must not refer the case to the Post-Release Supervision Board for consideration, unless the Commissioner is satisfied that an early release of the prisoner will not be contrary to the interests of national security. Similarly, the Ordinance also makes amendments to the Prison Rules, providing that if a prisoner serves a sentence in respect of the prisoner’s conviction of an offence endangering national security, the prisoner must not be granted remission unless the Commissioner of Correctional Services is satisfied that the prisoner being granted remission will not be contrary to the interests of national security,” the spokesman explained.

     “The relevant requirements are applicable to all prisoners serving their sentences in respect of their convictions of offences endangering national security, irrespectively of whether they were sentenced before, on or after the effective date of the amendments. The enforcement of sentences has always been under the purview of the executive authorities. The Commissioner of Correctional Services will enforce the relevant provisions and exercise discretion in strict accordance with the power vested by the law after taking into account the actual circumstances and all related factors of each case, including representations by the persons in custody, in order to ensure all cases are fairly dealt with.”

     The spokesman said, “The BBC cited accusations by anti-China organisations while turning a blind eye to the United Kingdom’s Terrorist Offenders (Restriction of Early Release) Act 2020 which tightens the threshold for eligibility for the parole of offenders convicted of terrorist offences, demonstrating complete double standards. The HKSAR Government strongly condemns their act.” read more

Speech by FS at Wealth for Good in Hong Kong Summit Gala Dinner (English only) (with photos/video)

     Following is the speech by the Financial Secretary, Mr Paul Chan, at the Wealth for Good in Hong Kong Summit Gala Dinner today (March 27):

Ladies and gentlemen, 

     Good evening. I hope you found today’s Summit a rewarding experience for you and your family office future. I hope, too, that you’re refreshed after the networking cocktail, and re-energised by Niu Niu’s world-class performance. 

     I’ll keep my comments brief, so that we can get on to the main course awaiting us. And onto the fireside chat, with high-profile speakers and its exciting theme of sports as an asset class. Then to a memorable performance featuring Yao Jue and the Hong Kong String Orchestra. Up to now, I’m sure you will agree that Hong Kong is a cultural exchange centre converging the best of the East and the West. 

     When we talk about cultural exchange, we must not miss one link: luxury, which is one of the themes of this Summit.

Luxury and Legacy

     As the Summit made clear, Hong Kong has long been a hub for a burgeoning network of luxury brands. 

     Last year, Hong Kong’s luxury segment experienced the most significant growth among all retail sales’ categories.

     And I’m confident this year will see a continuing upward trajectory for high-end goods here in Hong Kong, particularly jewellery, watches, clocks and valuable gifts. 

     After all, Irish actor Cillian Murphy, who picked up the Best Actor award at this year’s Academy Awards, was wearing a bespoke brooch at the Oscars designed by a luxury Hong Kong brand. The 18-carat yellow-gold brooch was a shining complement to the 24-carat, gold-plated Oscar statuette the actor was honoured with. 

“Impact Link”

     Our ambitions extend beyond the Academy Awards and economic prosperity. We are no less determined to drive positive social change, to address the pressing challenges faced by communities worldwide. 

     Hong Kong has a longstanding tradition of philanthropy, and we look forward to building on that tradition, to emerging as a global centre for philanthropy.

     To further this objective, I am delighted to announce our plan to launch “Impact Link”, a charity project depository under the Hong Kong Academy for Wealth Legacy. 

     “Impact Link” will connect donors and charity projects, with an initial emphasis on healthcare, early biotech research, poverty alleviation and youth empowerment. 

     It will serve as a comprehensive project database, displaying charity projects in need of financial support.  By enabling meaningful connections between these projects and potential donors, we hope to expand transformative philanthropic ventures. And, in doing so, reinforce our role as a global philanthropic hub for family offices.

     Using Impact Link’s charity projects information and stakeholder connections, family offices and asset owners can make more informed decisions, ensuring that their contributions create maximum impact.

     We are honoured to have the Bill & Melinda Gates Foundation, Fondation de France Asia, the Institute of Philanthropy empowered by the Hong Kong Jockey Club, and the Yidan Prize Foundation among those joining with us in this far-reaching pursuit. And the two medical schools of HKU (University of Hong Kong) and CUHK (Chinese University of Hong Kong) will take up advisory roles on life science-related projects.

     “Impact Link” is a milestone in our collective journey towards a more equitable and sustainable world. It underscores Hong Kong’s determination to harness its strengths and resources to drive positive change on a global scale, to assist family offices in using “wealth for good”.

Enjoy Hong Kong 

     Ladies and gentlemen, when you are done with all your good work, please remember to spend some time to explore this beautiful city and enjoy its unique charm. Beyond the wonderful restaurants and the scenic countryside that I mentioned this afternoon, Hong Kong is home to some exciting spots of cultural heritage. 

     Consider Hollywood Road, which was named by Time Out as the world’s second coolest street recently. It is a road with a long history, filled with antique shops and art galleries, and linked to two revitalised historical sites: Tai Kwun – an old complex of magistrate, police station and prison; and PMQ – formerly police married quarters. 

     And as Time Out writes about Hollywood Road, “You’ll also never go hungry nor thirsty in the area with options ranging from Michelin-starred dining…to trendy new bars.”

     If not this time, I encourage you to return soon – for the Hong Kong Sevens in early April, the Dragon Boat Races in June, or any of the stunning events that this city will host. 

     My friends, I know you will enjoy this splendid evening and the good people all about you. Thank you. 

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Speech by FS at Wealth for Good in Hong Kong Summit Gala Dinner (English only) (with photos/video)

     Following is the speech by the Financial Secretary, Mr Paul Chan, at the Wealth for Good in Hong Kong Summit Gala Dinner today (March 27):

Ladies and gentlemen, 

     Good evening. I hope you found today’s Summit a rewarding experience for you and your family office future. I hope, too, that you’re refreshed after the networking cocktail, and re-energised by Niu Niu’s world-class performance. 

     I’ll keep my comments brief, so that we can get on to the main course awaiting us. And onto the fireside chat, with high-profile speakers and its exciting theme of sports as an asset class. Then to a memorable performance featuring Yao Jue and the Hong Kong String Orchestra. Up to now, I’m sure you will agree that Hong Kong is a cultural exchange centre converging the best of the East and the West. 

     When we talk about cultural exchange, we must not miss one link: luxury, which is one of the themes of this Summit.

Luxury and Legacy

     As the Summit made clear, Hong Kong has long been a hub for a burgeoning network of luxury brands. 

     Last year, Hong Kong’s luxury segment experienced the most significant growth among all retail sales’ categories.

     And I’m confident this year will see a continuing upward trajectory for high-end goods here in Hong Kong, particularly jewellery, watches, clocks and valuable gifts. 

     After all, Irish actor Cillian Murphy, who picked up the Best Actor award at this year’s Academy Awards, was wearing a bespoke brooch at the Oscars designed by a luxury Hong Kong brand. The 18-carat yellow-gold brooch was a shining complement to the 24-carat, gold-plated Oscar statuette the actor was honoured with. 

“Impact Link”

     Our ambitions extend beyond the Academy Awards and economic prosperity. We are no less determined to drive positive social change, to address the pressing challenges faced by communities worldwide. 

     Hong Kong has a longstanding tradition of philanthropy, and we look forward to building on that tradition, to emerging as a global centre for philanthropy.

     To further this objective, I am delighted to announce our plan to launch “Impact Link”, a charity project depository under the Hong Kong Academy for Wealth Legacy. 

     “Impact Link” will connect donors and charity projects, with an initial emphasis on healthcare, early biotech research, poverty alleviation and youth empowerment. 

     It will serve as a comprehensive project database, displaying charity projects in need of financial support.  By enabling meaningful connections between these projects and potential donors, we hope to expand transformative philanthropic ventures. And, in doing so, reinforce our role as a global philanthropic hub for family offices.

     Using Impact Link’s charity projects information and stakeholder connections, family offices and asset owners can make more informed decisions, ensuring that their contributions create maximum impact.

     We are honoured to have the Bill & Melinda Gates Foundation, Fondation de France Asia, the Institute of Philanthropy empowered by the Hong Kong Jockey Club, and the Yidan Prize Foundation among those joining with us in this far-reaching pursuit. And the two medical schools of HKU (University of Hong Kong) and CUHK (Chinese University of Hong Kong) will take up advisory roles on life science-related projects.

     “Impact Link” is a milestone in our collective journey towards a more equitable and sustainable world. It underscores Hong Kong’s determination to harness its strengths and resources to drive positive change on a global scale, to assist family offices in using “wealth for good”.

Enjoy Hong Kong 

     Ladies and gentlemen, when you are done with all your good work, please remember to spend some time to explore this beautiful city and enjoy its unique charm. Beyond the wonderful restaurants and the scenic countryside that I mentioned this afternoon, Hong Kong is home to some exciting spots of cultural heritage. 

     Consider Hollywood Road, which was named by Time Out as the world’s second coolest street recently. It is a road with a long history, filled with antique shops and art galleries, and linked to two revitalised historical sites: Tai Kwun – an old complex of magistrate, police station and prison; and PMQ – formerly police married quarters. 

     And as Time Out writes about Hollywood Road, “You’ll also never go hungry nor thirsty in the area with options ranging from Michelin-starred dining…to trendy new bars.”

     If not this time, I encourage you to return soon – for the Hong Kong Sevens in early April, the Dragon Boat Races in June, or any of the stunning events that this city will host. 

     My friends, I know you will enjoy this splendid evening and the good people all about you. Thank you. 

Photo  Photo  
read more