Tag Archives: China

     The Hong Kong Economic and Trade Office, Sydney (Sydney ETO) hosted a reception in Perth, Australia, today (March 7) to celebrate the Chinese New Year.
 
     Around 100 guests from various sectors including political and business circles, media, academic and community groups as well as government representatives attended the reception. Among them were the Secretary for Education, Dr Choi Yuk-lin; the Consul General of the People’s Republic of China in Perth, Mr Long Dingbin; and the Minister for Mines and Petroleum, Ports, Road Safety and Minister Assisting the Minister for Transport of Western Australia, Mr David Michael, representing the Premier of Western Australia.
 
     Addressing the reception, Dr Choi said that Hong Kong has sound education infrastructure, outstanding research talent, as well as diverse basic education. The quality of teaching and learning in Hong Kong is ranked among the top in various international comparative studies.
 
     “Building on this solid foundation, we will continue to seize the opportunities brought about by the National 14th Five-Year Plan and the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and build on our unique status and advantages under ‘one country, two systems’ to nurture and attract talent,” Dr Choi said.
 
     Dr Choi pointed out that the Government is striving to develop Hong Kong into an international education hub for post-secondary education. “We will double the admission quota of non-local students by government-funded post-secondary institutions to 40 per cent, and strengthen scholarship and related support to attract more overseas and Mainland students to further education in Hong Kong. Another exciting development is the Northern Metropolis University Town, providing unlimited opportunities for post-secondary institutions to strengthen co-operation with renowned Mainland and overseas education institutions,” Dr Choi added.
 
     The Director of the Sydney ETO, Miss Trista Lim, introduced the latest initiatives announced in the 2024-25 Budget at the reception. “Our Financial Secretary unveiled his 2024-25 Budget last week presenting a series of measures aimed at bolstering confidence and establishing Hong Kong as a premier destination for business and tourism through hosting more mega events and thematic annual conferences. More than 80 mega events will be staged in Hong Kong in the first half of this year,” Miss Lim said.
 
     She also highlighted that the Budget places a strong focus on green development and the digital economy, with various initiatives on green finance, green shipping and aviation, as well as measures to guide industries towards high-quality development.
 
     In addition to the reception in Perth, the Sydney ETO also hosted Chinese New Year receptions in Sydney, Melbourne, Brisbane and Adelaide in Australia, and Auckland in New Zealand, to celebrate the Year of the Dragon with the communities.

          

The following is issued on behalf of the Executive Council Secretariat:

     The Non-official Members of the Executive Council (ExCo Non-official Members) today (March 7) issued the following statement:

     ExCo Non-official Members expressed their full support to the Hong Kong Special Administrative Region (HKSAR) Government’s announcement today on the gazettal tomorrow (March 8) and the introduction of the Safeguarding National Security Bill (the Bill) into the Legislative Council.

     The Bill fully implements the constitutional duty and requirements for safeguarding national security set out in Article 23 of the Basic Law, the Decision of the National People’s Congress (NPC) on Establishing and Improving the Legal System and Enforcement Mechanisms for the HKSAR to Safeguard National Security adopted by the NPC on May 28, 2020, and the Hong Kong National Security Law. Therefore, there is a genuine and urgent need for the legislation.

     During the public consultation period for the legislation on Article 23 of the Basic Law, the HKSAR Government comprehensively explained the legislative proposals to members of the public and various sectors of society. Among the over 13 000 submissions received, the majority (98.6 per cent) showed support and made positive comments, indicating the wide support for the legislative proposals from the public.

     ExCo Non-official Members fully support the Bill and appeal for the prompt completion of the legislative work, with a view to facilitating the HKSAR’s work in improving the legal system and enforcement mechanisms for safeguarding national security. ExCo Non-official Members also expressed their gratitude to the Security Bureau and the Department of Justice, which have carefully analysed and studied the opinions collected within a short period of time and worked at full steam to complete the drafting of a comprehensive and meticulous bill, ensuring the effective safeguard of national security. read more

     The Government announced today (March 7) that the Financial Mega Event Week will be held in the last week of March, with a series of top-tier international conferences and exhibitions taking place in Hong Kong. These include the highly acclaimed Wealth for Good in Hong Kong Summit (WGHK) exclusively for family offices; the inaugural One Earth Summit organised by the Institute of Sustainability and Technology (IST) and co-organised by the Giving to Amplify Earth Action (GAEA), a World Economic Forum initiative, on global climate and the green economy; and the Global Investors’ Symposium organised by the Milken Institute, the first large-scale summit held in Hong Kong by the Institute since 1998.

     The Financial Secretary, Mr Paul Chan, announced in his recent Budget speech that the Financial Mega Event Week is scheduled for March. In addition to the aforementioned large-scale international summits, several international mega events will be staged from March 22 to April 7, covering areas such as popular culture, sports and art, attracting people from different sectors around the world to gather in Hong Kong. These efforts create enormous business opportunities from the mega event economy and showcase the city’s glamour and vitality to the world. 

     Mr Chan said, “The Financial Mega Event Week will showcase the strengths, development potential and investment opportunities of Hong Kong as an international financial centre. By bringing together family offices serving the wealthy around the world, investors, entrepreneurs and business starters, it will create more opportunities for cross-sectoral and cross-disciplinary co-operation, thereby attracting capital to Hong Kong and consolidating our position as an asset and wealth management centre. At the same time, it allows us to keep our finger on the pulse of the market and launch new products and services so as to enhance our competitiveness. As a ‘super-connector’ and a ‘super value-adder’, we connect investors and capital markets on the Mainland and worldwide, creating value and opportunities for investors and capital as well as contributing to the economic prosperity and development of our country and the region.”

     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, “We are looking forward to the financial and international events that will be staged in Hong Kong in March, when the city demonstrates to the world its unique strengths as a cosmopolitan city. We will let Hong Kong as a precious pearl shine and consolidate the city’s position as an international financial hub by successfully attracting global enterprises, talent and capital.”

     During the Financial Mega Event Week, three world-class financial summits will be held. Among them is the second edition of WGHK, a top-level exclusive event for global family offices, organised by the Financial Services and the Treasury Bureau (FSTB) and Invest Hong Kong (InvestHK), which will be held on March 27. Themed “Growing with Certainty Amid Growing Uncertainty”, the summit will focus on Hong Kong’s steady development in the face of external economic challenges, by firmly leveraging its diverse talent and innovative thinking to promote the continued growth of the market and wealth.

     The WGHK will bring together influential family offices from around the world to engage with professionals, asset owners and wealth successors to explore investment opportunities and effective wealth management amid the volatile global economic climate, as well as showcasing Hong Kong’s long-standing vision as a leading hub for family offices and international asset and wealth management. The summit will address issues of concern of global family offices, including impact investment in technology to create positive value for the future of society, the high-end art and luxury goods market combining taste and investment that has become increasingly sophisticated, philanthropy and wealth succession, and experience sharing of family offices around the globe.

     The WGHK this year will feature renowned speakers of various fields from Hong Kong, the Mainland, Asia, the Middle East, Europe, and the Americas. They include the founding partner of WndrCo, former Chairman of Walt Disney Studios and co-founder and Chief Executive Officer of DreamWorks Animation, Mr Jeffrey Katzenberg; the Chief Executive Officer of Wade Inc and former Miami Heat guard with a Hall of Fame induction, Mr Dwyane Wade; member of the Ruling Family in Dubai Mr Sheikh Ali Rashed Ali Saeed Al Maktoum; the founder and Chairman of Jollibee Foods Corporation from the Philippines, Dr Tony Tan Caktiong; the Chief Executive Officer of BYD Americas, Ms Stella Li Ke; the Vice Chairman and President of XPENG Motors, Dr Brian Gu; the Chairman, Chief Executive Officer and co-founder of Avenue Capital Group and former co-owner of NBA’s Milwaukee Bucks, Mr Marc Lasry; the Chairman of the Hong Kong Academy for Wealth Legacy, Dr Adrian Cheng; and the Chief Executive Officer of Blue Pool Capital, Mr Oliver Weisberg. More heavyweight speakers will be announced before the summit.

     In addition, the One Earth Summit, the first major convention for influential and reputable global leaders from the sustainability field, is scheduled for March 25. The summit aims to discuss climate issues of high importance to the financial sector, particularly on achieving net-zero emissions and creating a transformation blueprint for the good of nature. The event is organised by the IST, a non-profit research and education organisation, co-organised by GAEA, a World Economic Forum initiative, and with the FSTB and InvestHK as the Host Partners. The Summit is expected to bring about 500 government representatives, entrepreneurs, and academics worldwide to delve into five major themes, namely, water and natural environment-related solutions, infrastructure and urban development, food and agriculture, energy transformation, as well as materials and industrial decarbonisation. The event will fully showcase Hong Kong’s important role in leading green and sustainable financial development in the region.

     The third mega event is the Global Investors’ Symposium organised by the Milken Institute, a US-based non-profit think tank, to be held on March 26 with the theme of “Thriving Together, Bridging Global Market”, marking its inaugural presence in Hong Kong. The conference aims to bring together thought leaders and experts from a wide range of sectors to discuss how to tackle the most pressing global challenges. Participants will include corporate executives, investment directors, asset managers, directors of family offices and industry leaders, with an expected attendance of 400.

     More international mega events will come to Hong Kong. ComplexCon Hong Kong, America’s largest festival and exhibition, will be held from March 22 to 24. This is the first time the event is held outside the United States and sets the stage in Asia’s world city. The annual Art Basel Hong Kong Show will return to the Hong Kong Convention and Exhibition Centre in Wan Chai from March 28 to 30, while the Hong Kong Rugby Sevens, an eagerly awaited sporting event, will be held at the Hong Kong Stadium from April 5 to 7.

     Driven by the mega event economy, the series of events during the Financial Mega Event Week are expected to generate strong synergy effects and attract people from all over the world to Hong Kong, for their experience of the excitement and dynamism of the city.

        

     The Secretary for Environment and Ecology, Mr Tse Chin-wan, visited the energy facilities of the China Southern Power Grid in Zhuhai and Nansha, Guangzhou, in the Guangdong-Hong Kong-Macao Greater Bay Area today (March 7). &nb… read more

     The Hong Kong Economic and Trade Office in San Francisco (HKETO San Francisco) hosted a spring reception celebrating the Year of the Dragon in Seattle, Washington, on March 5 (Seattle time).
 
     The Director of the HKETO San Francisco, Ms Jacko Tsang, spoke at the reception. She said that Hong Kong is making strides to spur the city’s economic development across different sectors.
 
      “On financial services, Hong Kong is an engaged stakeholder in support of climate action. Last year, Hong Kong had great success issuing the world’s first tokenised green bond issued by a government. Riding on the success, the Government made a second offering in February, selling US$750 million of two-year tokenised green bonds. The successful sales of digital green bonds boost Hong Kong’s status as a digital asset hub,” she said.
 
      “On innovation and technology, Hong Kong continues to stand out as an emerging tech hub in the world. The number of start-ups in Hong Kong has reached a record high of over 4 250, up more than 60 per cent compared to five years ago. The city’s research and development investment continues to grow with 30 strategic enterprises set to invest a total of more than US$3.85 billion in their operations in Hong Kong, and create about 10 000 jobs, the majority of which are scientific research and management positions,” she continued.
 
     The event concluded with a dynamic performance by RedBricks Harmonica, an energetic ensemble from Hong Kong. All five members of the group are from King’s College in Hong Kong, and the group’s name is a tribute to the beautiful architecture of their alma mater.