Tag Archives: China

     A delegation of representatives from the innovation and technology (I&T) industry led by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, continued its visit in Riyadh on March 4 (Riyadh time) and attended the opening of the LEAP 2024 technology conference. Delivering a keynote speech at the conference, Professor Sun said Hong Kong, being one of the most international cities of the country, as well as one of the key nodes of the Belt and Road Initiative, has the potential to act as a “super value-adder” between Mainland China and the rest of the world, including Saudi Arabia and the entire Middle East, to enhance mutually beneficial relationships and foster global innovation collaboration.

     Professor Sun said, “Hong Kong can pool together innovation resources from the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the Mainland and the world to promote I&T development, which is the best springboard for overseas enterprises to venture into the GBA, Mainland China and even the Asian markets.”

     He pointed out that the Hong Kong Special Administrative Region (HKSAR) Government this term has been proactively promoting I&T development, adding that the Hong Kong Innovation and Technology Development Blueprint promulgated in December 2022 set out the city’s role as a bridge connecting the Mainland and the world as one of the key development strategies. Under the Saudi Vision 2030, Saudi Arabia is well-positioned to emerge as a tech leader in the Middle East region and is making remarkable progress in developing a diversified, sustainable and technology-based economy. Professor Sun believed that Hong Kong and Saudi Arabia share the same vision and there is much room for a closer and deeper co-operation, particularly in the aspects of research and development, artificial intelligence (AI) and digitalisation.

     Professor Sun also officiated at the opening ceremony of the Hong Kong Pavilion jointly presented by the Hong Kong Science and Technology Parks (HKSTP) Corporation and the Hong Kong Cyberport Management Company Limited (Cyberport), the first of its kind at the technology conference. The Hong Kong Pavilion showcases 16 cutting-edge technologies covering fields of AI, biotech, healthtech, green technology from tech enterprises of the two flagships. During the ceremony, Professor Sun witnessed the signing of a Memorandum of Understanding between the HKSTP Corporation and Cyberport, and the King Abdulaziz City for Science and Technology to establish a strategic partnership in promoting I&T cooperation and deepening exchange, and facilitating companies from both places to establish market presence by providing support and assistance to startups and entrepreneurs.
 
     On the sidelines of the technology conference, Professor Sun met with the Minister of Industry and Mineral Resources of Saudi Arabia, Mr Bandar bin Ibrahim AlKhorayef, to brief him on Hong Kong’s latest development in the I&T, advanced manufacturing and new energy industries, as well as Hong Kong’s unique advantages of leveraging on the Motherland and connecting with the world and internationalisation under the “one country, two systems” principle. He hoped to further enhance exchanges and co-operation between the two places.
 
     He then met with the Deputy Minister of Investment of Saudi Arabia, Mr Saleh Ali AlKhabti, saying that Hong Kong and Saudi Arabia have been maintaining close bilateral trade relations. He hoped that through this visit, Hong Kong could establish connection with various sectors, especially I&T, in Saudi Arabia, and promote co-operations in areas such as technology, investment and advanced manufacturing.
 
     Professor Sun and the Deputy Secretary for Justice, Mr Cheung Kwok-kwan, who is paying a duty visit there at the same time, called on the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Kingdom of Saudi Arabia, Mr Chen Weiqing. Professor Sun hoped that the HKSAR Government would continue to work closely with the Embassy to promote the advantages of Hong Kong in building into an international I&T centre and explore emerging markets.

     Members of the delegation include the Chief Executive Officer of the HKSTP Corporation, Mr Albert Wong; the Chief Executive Officer of the Hong Kong Cyberport Management Company Limited, Mr Peter Yan, and representatives of more than ten technology enterprises from the two I&T flagships and relevant industries.
 
     They will depart for Dubai, the United Arab Emirates today (March 5, Riyadh time).

              

     The Hong Kong Economic and Trade Office in San Francisco (HKETO San Francisco) hosted a reception celebrating the Year of the Dragon in Houston, Texas, on March 1 (Houston time).
 
     Following a festive lion dance which kicked off the event bringing good luck and good fortune to everyone, the Director of the HKETO San Francisco, Ms Jacko Tsang, greeted the guests with warm wishes for a happy and healthy year ahead. On that note, she pointed out that Hong Kong’s life expectancy has reached 85.5 years, among the highest in the world. “Good living quality is one important factor contributing to longevity. Hong Kong ranks fourth out of 191 places in the quality of life standing in the United Nations’ Human Development Index. The index assesses long-term progress in basic dimensions of human development,” she said.
 
     “That explains why Hong Kong remains a magnet for talent. Various programmes such as the Top Talent Pass Scheme are in place to bring in high-income talent or graduates of the world’s top 100 universities to Hong Kong,” she continued.
 
     She encouraged everyone to explore working, studying and living in Hong Kong, a place full of culture, excitement and opportunities.

     At the reception, the melodic performance by RedBricks Harmonica, a renowned harmonica ensemble from Hong Kong, was greeted with a big round of applause.

        

     Following is the keynote speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the LEAP 2024 Technology Conference in Riyadh, Saudi Arabia on March 4 (Riyadh time): 

His Excellency, distinguished guests, ladies and gentlemen,

     Good afternoon and hello from Hong Kong! It is my great pleasure to join you all today on behalf of the Hong Kong SAR Government at the third edition of LEAP Technology Conference in Riyadh, a young but definitely one of the most iconic and anticipated tech events in the world!

     Innovation and technology, or “I&T” in short, is sweeping the globe at an unprecedented pace. Its far-reaching impact is not only on the economy, but also on humanity. Hong Kong, like many other economies around the globe, is sparing no effort to promote I&T development, not only locally but also from a regional and even global perspective. 

     I am deeply proud to have this opportunity to share with you about the perspective of Hong Kong on I&T development and how we, as the “super value-adder” help foster the global I&T collaboration.

     Following the successful visit of our Chief Executive to the Kingdom of Saudi Arabia and his participation in LEAP last year, we are delighted to return to LEAP again this year with the first-ever Hong Kong Pavilion, jointly presented by Hong Kong’s two I&T flagships, namely the Hong Kong Science Park and Hong Kong Cyberport.

     What’s more, we have the cutting-edge technologies brought by 16 tech ventures from Hong Kong, demonstrating the homegrown tech products and innovative solutions in various areas such as AI (artificial intelligence), biotech, healthcare, greentech and so on. We are here with one simple mission. That is to showcase Hong Kong’s vibrant I&T ecosystem and open up new collaborations with our friends in Saudi Arabia, the Middle East, and the world!

     For many of you, Hong Kong is a famous free port, a major international financial and trading centre and of course the Pearl of the Orient. Yes, it is! These are all true of this Asia’s world city, but there is much more to Hong Kong!

     With the unwavering support from the motherland, the strategic role in the Belt and Road Initiative, the opportunities brought by the national development of the Guangdong-Hong Kong-Macao Greater Bay Area, GBA in short, and the unique advantages Hong Kong enjoy under the principle of “one country, two systems”, Hong Kong is moving in full steam towards our vision of becoming an international I&T centre.

     Being one of the most important international cities in China, Hong Kong is a key node city of the Belt and Road and also an ideal gateway to the Mainland China market. You can reach most of the major Asian cities within a four-hour flight and major GBA cities within a one-hour commute.

     Hong Kong is also a free, open, diversified and innovative city that offers robust legal and IP (intellectual property) protection framework, a simple and low tax rate, as well as high accessibility in fund-raising. All these intangible assets have positioned Hong Kong as one of the most vibrant innovation hubs in the region, and ensured Hong Kong’s promising role as a “super value-adder” between Mainland China and the rest of the world, including Saudi Arabia and the entire Middle East, in enhancing mutually beneficial relationships.

     As set out in the Hong Kong I&T Development Blueprint promulgated in December 2022, one of our key development strategies is to consolidate Hong Kong’s role as a bridge connecting Mainland China and the rest of the world. I can say that we have made a very good start and are making good progress towards achieving our goals.
 
     Being home to five world’s top 100 universities and world-renowned scholars and researchers, Hong Kong possesses solid R&D (research and development) foundation with strong research capability and originality.
 
     Under our major R&D flagship project namely InnoHK, we have set up two research clusters under this platform focusing on AI and robotics, and health technologies respectively, with a total of 29 research laboratories set up by 30 world-renowned universities and research institutes to conduct collaborative researches of high quality. To further expand the global collaboration, we will establish the third research cluster focusing on advanced manufacturing, materials, energy and sustainable development. We expect that more scientific breakthroughs will be generated from the global effort.

     We are also establishing an AI supercomputing centre in phases at the Cyberport to support the unprecedented demand on computing power for AI development. The first phase of this strategic digital infrastructure is expected to come into operation within this year at the earliest.

     Last Wednesday, we announced the Government Budget in 2024-25 that we will allocate another three billion Hong Kong dollars, approximately 390 million US dollars, to launch a three-year funding scheme specifically for AI to support the development of the AI ecosystem in Hong Kong.

     More I&T land and infrastructures are coming at our Lok Ma Chau Loop and San Tin Technopole, which are adjacent to Shenzhen, creating a massive I&T platform for development. Life and health technology, AI and data science, as well as new energy and advanced manufacturing industries are our strategic tech industries and we welcome relevant I&T talent and representative enterprises from Saudi Arabia and from all around the world to set foot in Hong Kong.

     In the Global Innovation Index 2023, the Shenzhen-Hong Kong-Guangzhou science and technology cluster ranked second among the world’s top 100 clusters for the fourth consecutive year. This is the best testimony to Hong Kong’s I&T strength and it shows the limitless potential and opportunities brought by the synergy of the GBA market.

     Hong Kong can pool together innovation resources from the GBA and the world to promote I&T development and investment, which is the best springboard for overseas enterprises to venture into the GBA, Mainland China and even the Asian markets.

     Under the Vision 2030, Saudi Arabia is well-positioned to emerge as a tech leader in the Middle East region and is making remarkable progress in developing a diversified, sustainable and technology-based economy. Sharing the same vision, I am confident that there is much room for a closer and deeper I&T co-operation between Hong Kong and Saudi Arabia, especially in the areas of R&D, AI and digitalisation.

     I am excited to share with you that earlier today, the Hong Kong Science Park and Cyberport jointly signed an MoU (Memorandum of Understanding) with Saudi Arabia’s KACST (King Abdulaziz City for Science and Technology) to establish strategic partnership in bilateral I&T collaboration. This is a milestone and I look forward to seeing more bilateral I&T exchanges between the two economies to propel the growth and shape the future of our I&T ecosystems.

     Ladies and gentlemen, I&T is not just about science and statistics, it is more about value creation. As a “super value-adder”, Hong Kong will continue to make good use of the distinctive advantage of being “backed by the motherland, and connected to the world”, to contribute Hong Kong’s I&T power and foster global I&T collaboration.

     In closing, may I wish LEAP 2024 a great success and the global I&T development, like the name of this conference, to flourish as leap and bound! Thank you very much.

  

     The Environmental Protection Department (EPD), through the Education Bureau, has invited all primary and secondary schools in Hong Kong to participate in the “We-recycle@School” activity to encourage students to actively practise waste reduction and recycling together with their families in their daily life. 

     Further strengthening promotion and education at school level is an important part in the promotion of waste reduction to the public. The EPD wishes to join hands with all primary and secondary schools in Hong Kong to take forward “We-recycle@School” activity. Through distributing the latest information on source separation and recycling to the students by schools, the department encourages students to share the information with their family members and practise recycling together by using the recycling facilities available in their residential premises, the nearby GREEN@COMMUNITY facilities and the three-colour waste separation bins at schools. 

     Under the “We-recycle@School” activity, the EPD will provide schools with the latest information on source separation and recycling, and support in organising promotion and education activities (such as school talks, field visits and workshops, etc.) through the operators of GREEN@COMMUNITY Recycling Stations and the GreenLink – Environmental Education Support Programme (GreenLink) of the Environmental Campaign Committee (ECC). 

     A spokesman for the EPD said, “Currently, around 120 primary and secondary schools have committed to participate in the activity. We hope that all primary and secondary schools in Hong Kong will join in and work together to encourage students and their family members to cultivate habits of waste reduction and recycling to achieve ‘Recycle More, Dump Less, Save More’, with a view to preparing for the implementation of municipal solid waste charging.”

     The EPD has been collaborating with the ECC in implementing the Waste Separation and Recycling Scheme in Schools. Participating schools are provided with three-colour waste separation bins for free to encourage schools to separate waste papers, plastic bottles and metals for recycling, as well as to help students understand the importance of resources conservation and waste separation. The ECC has provided three-colour waste separation bins to a total of over 1 000 primary and secondary schools so far, while the EPD are, in response to the requests of schools, providing recyclables collection service for around 950 schools. Moreover, the Environment and Ecology Bureau and the ECC, have launched the GreenLink with funding support from the Environment and Conservation Fund. The programme provides schools with one-stop services to assist schools in arranging environmental education activities. read more

     Following is the speech by the Permanent Secretary for Financial Services and the Treasury (Financial Services), Ms Salina Yan, at the European Federation of Financial Analysts Societies (EFFAS) Asia Summit on Pioneering Sustainability Policy and Regulatory Development today (March 4):
 
Dr Zaballos (Chairperson of the EFFAS, Dr Jesús López Zaballos), Anthony (Vice Chairman and Convenor of Green Finance of Friends of the Earth (HK), Mr Anthony Cheung), ladies and gentlemen, distinguished guests,
 
     It is my great pleasure to join you at the inaugural Asia Summit of the European Federation of Financial Analysts Societies (EFFAS). A warm welcome to the distinguished EFFAS delegation from Europe. Surely you have chosen the right place and the right time for the event focusing on Sustainability Policy and Regulatory Development.
 
     Hong Kong has indeed placed sustainability at the core of our policy formulation and regulatory considerations. We are committed to the goal of achieving net zero before 2050. Last week, our Financial Secretary (FS) unveiled the HKSAR Government Budget for the coming financial year. It contains visionary initiatives to provide solutions to move towards that goal.
 
     Notably, on green shipping, we are conducting a feasibility study on providing green-methanol bunkering for local and ocean-going vessels. On green aviation, we will simplify procedures for the transportation and storage of Sustainable Aviation Fuel (SAF) and will look into policy and measures for the development of SAF. We will persist in popularising the use of green vehicles. The first hydrogen powered bus has recently hit the road here.
 
     Of course, Hong Kong as an international financial centre with its deep capital markets and world class financial services practitioners, is in an excellent position to direct capital towards sustainable projects in Asia and beyond.
 
     Testifying to our role as Asia’s sustainable finance hub, a market report showed that over one third of Asia’s green and sustainable bonds were arranged through the Hong Kong bond market platform. As the FS pointed out in his Budget speech, we will keep up our efforts in issuing Government green and sustainable bonds denominated in different currencies, and will cast the net of issuance support wider to cover transition loans and bonds.
 
     We will enrich that ecosystem by harnessing the technology advantage and market forces. We have already issued two tranches of tokenised government green bonds, with the last one in early February being in digitally native format without the need of conversion through traditional central securities depositories. We will soon launch a proof-of-concept scheme to match start up green fintech ideas with application scenarios in the market. Meanwhile, the Green and Sustainable Finance Cross-Agency Steering Group has launched a prototype Hong Kong Green Fintech Map. This directory of relevant companies in Hong Kong will help corporates and financial firms identify green fintech solutions which meet their business needs. And Core Climate, the carbon marketplace established under our Stock Exchange, is striving to establish Hong Kong as a global market for high-quality voluntary carbon credits, capturing also developments in the Mainland carbon credit space.
 
     On disclosure, we are formulating a roadmap on the appropriate adoption of the standards issued by the International Sustainability Standards Board (ISSB) and will work with our regulators to assist enterprises not only in complying with sustainability reporting requirements but providing the data for analysis and better science in the combat against climate change.
 
     Above all these, there is no doubt that people and talents form the most important pillar in taking the sustainability efforts forward.
 
     As we strive towards a greener and more sustainable future, it is crucial to nurture a skilled talent pool that can effectively navigate the complexities of both the financial system and the world in quest of sustainability. Hence, my heartfelt congratulations to all the graduates of the Certified ESG Analyst (CESGA) Programme present today. Your determination to dive deep into the subject of ESG analysis should be complimented.
 
     I am glad to know that the CESGA Programme is one of the eligible programmes under the Pilot Green and Sustainable Finance Capacity Building Support Scheme. It is good to see such partnership in capacity building for pushing forward the sustainability frontier.
 
     Last week, the Hong Kong Green Week covering a wide range of relevant topics was successfully conducted in partnership with key international players such as the International Finance Corporation and IMF (International Monetary Fund). Today, I am glad to see the continuation of that dialogue with experts and thought leaders from different quarters. I congratulate again EFFAS for initiating the Asia Summit. Acknowledgement is also due for the support of Friends of the Earth and HKU iCube in this endeavour. I wish the event every success and a rewarding afternoon for all. Thank you.  read more