Following is a question by Dr the Hon So Cheung-wing and a reply by the Secretary for Commerce and Economic Development, Mr Algernon Yau, in the Legislative Council today (December 18):
 
Question:
 
     There are views pointing out that Invest Hong Kong (InvestHK) plays an important role and has significant responsibilities in the work on attracting enterprises and investments, and it is learnt that InvestHK has been undertaking a number of new projects in recent years, including establishing FamilyOfficeHK, supporting the Office for Attracting Strategic Enterprises, assessing the financial assets and investment of applicants for the New Capital Investment Entrant Scheme, mobilising enterprises to capture opportunities amid the Belt and Road Initiative, participating in the Pan-‍Greater Bay Area Inward Investment Liaison Group to promote the investment of global priority markets in the Guangdong-Hong Kong-Macao Greater Bay Area, and promoting Hong Kong as a leading destination for entrepreneurship and innovation of start-ups through StartmeupHK. In this connection, will the Government inform this Council:
 
(1) of the total number of current and new projects undertaken by InvestHK, and the specific responsibilities and contents of such projects; whether it has assessed if the existing manpower of InvestHK is sufficient to cope with the new work, and whether there is a need for additional manpower;
 
(2) of the division of work between InvestHK and the Hong Kong Trade Development Council in respect of the work on attracting enterprises and investments; and
 
(3) whether it will consider enhancing the powers and responsibilities of InvestHK and establishing a higher-level structure to better coordinate and enhance Hong Kong's work on attracting enterprises and investments in a comprehensive manner?
 
Reply:
 
President,
 
     According to the latest annual survey jointly conducted by Invest Hong Kong (InvestHK) and the Census and Statistics Department, the number of companies in Hong Kong with overseas or Mainland parent companies rose to 9 960 in 2024, reaching a record high. At the same time, the number of start-ups in Hong Kong also increased to a record high of almost 4 700 this year.
 
     As at the first 11 months of this year, InvestHK assisted over 530 Mainland or overseas enterprises to set up or expand their businesses in Hong Kong, representing an increase of over 50 per cent when compared with that in the same period last year. On a pro-rata basis, this figure also well exceeded the performance indicator as set out in the Chief Executive's 2022 Policy Address.
 
     The above positive results fully demonstrate InvestHK's achievements and that Mainland and overseas enterprises continue to have full confidence in Hong Kong despite geopolitical impact. Those enterprises have selected Hong Kong as their base to expand regional businesses in Asia so as to enjoy the commercial values brought by Hong Kong's roles as a "super connector" and a "super value-adder".
 
     After consulting the Financial Services and the Treasury Bureau (FSTB), the Innovation, Technology and Industry Bureau (ITIB), the Constitutional and Mainland Affairs Bureau (CMAB) and the Office for Attracting Strategic Enterprises (OASES), my consolidated response to Dr the Hon So Cheung-wing's question is as follows:
 
     Serving as the first point of contact to overseas and Mainland enterprises, InvestHK's provision of one-stop customised support services to them is of utmost importance. As such, in the course of its investment promotion work, InvestHK fully collaborates with bureaux to promote key measures under their respective policy portfolios, including family office, financial technology (fintech), financial services, sustainability, innovation and technology (I&T), creative industries, talent attraction.
 
     To further enhance the work of attracting investment and proactively compete for enterprises, the current-term Government established OASES in December 2022, shortly after the commencement of its term in July of the same year. OASES, which is directly under the Financial Secretary (FS), attracts high-potential and representative strategic enterprises from around the globe, particularly those from industries of strategic importance, such as life and health technology, artificial intelligence and data science, fintech, as well as advanced manufacturing and new energy technology. Since the establishment of OASES, InvestHK, including its 17 Dedicated Teams for Attracting Businesses and Talents (Dedicated Teams) in the Mainland and overseas, has been fully collaborating with OASES on the latter's work.
 
     Meanwhile, to further step up co-ordination between bureaux and departments, with the support of the FS, InvestHK set up this year an inter-departmental/agency referral mechanism led by the Director-General of Investment Promotion. By proactively collecting enterprises' concerns and pain points when they plan to establish presence in Hong Kong, InvestHK reflects them to relevant bureaux, departments or agencies accordingly for exploring suitable solutions as appropriate. Since the establishment of the mechanism, various concerns of the enterprises were successfully resolved in the past months, thereby facilitating those enterprises to set up or expand their businesses in Hong Kong.
 
     As regards specific deliverables, InvestHK focuses on assisting the FSTB in investment promotion on fintech and family office fronts and implementing the New Capital Investment Entrant Scheme; assisting the ITIB's investment promotion work on I&T and start-up fronts; co-operating with the CMAB in promoting investment opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and taking forward the work of the Pan-Greater Bay Area Inward Investment Liaison Group with the governments of other GBA cities; working with various bureaux to organise large-scale investment promotion activities such as Hong Kong FinTech Week 2024, StartmeupHK Festival 2024, and Wealth for Good in Hong Kong Summit; and providing high value-added supply chain services to Mainland enterprises along with the Hong Kong Trade Development Council (HKTDC). In addition, InvestHK holistically promotes Hong Kong's various unique strengths under "one country, two systems" by consolidating different bureaux' policies and measures that provide convenience to businesses, as well as key national strategies including the National 14th Five-Year Plan, the GBA development and the Belt and Road Initiative.
 
     InvestHK is responsible for promoting inward direct investment to Hong Kong by attracting Mainland and overseas enterprises to set up or expand in the city. It also provides enterprises with one-stop customised support services from the planning to implementation stages. As for the HKTDC, it is responsible for trade promotion as well as facilitating, assisting and developing trade in Hong Kong. Through organising international exhibitions, conferences and business missions, the HKTDC creates business opportunities in the Mainland and international markets for Hong Kong enterprises. Although the two agencies' functions differ, they have been working closely together and are dedicated to promoting Hong Kong as a two-way global investment and business hub, thereby fully leveraging Hong Kong's advantages as a two-way springboard for both Mainland and international businesses.
 
     As announced in the 2024 Policy Address by the Chief Executive, InvestHK and the HKTDC would commence work to set up a high value-added supply chain services mechanism. To this end, InvestHK and the HKTDC have convened a meeting to jointly attract Mainland enterprises to establish international or regional headquarters in Hong Kong for managing offshore trading and supply chain. They also offer those enterprises in Hong Kong with high value-added supply chain services to assist them to expand business globally to the Association of Southeast Asian Nations and other emerging markets. On one hand, InvestHK will step up its engagement with Mainland enterprises through various kinds of investment promotion activities. On the other, the HKTDC will provide them with professional advisory services and, through its overseas offices, render on-site support services.
 
     As regards manpower, currently InvestHK's head office consists of 184 posts. There are 79 investment promotion posts in the 17 Dedicated Teams in the Mainland and overseas. At present, the department has sufficient resources for meeting its daily work. Review on whether InvestHK's resources are sufficient for coping with new tasks will be conducted from time to time.
 
     I conclude with these remarks, President.

     The effective exchange rate index for the Hong Kong dollar on Wednesday, December 18, 2024 is 107 (down 0.1 against yesterday's index).

     The Government announced today (December 18) that Ms Angelina Kwan Yuen-yee, Deputy Secretary for Labour and Welfare (Manpower), will take up the post of Director of Broadcasting on January 6, 2025.

     Commenting on the appointment of Ms Kwan, the Secretary for the Civil Service, Mrs Ingrid Yeung, said, "Ms Kwan is a seasoned Administrative Officer with proven leadership and management skills. I have every confidence that she will continue to serve the community with professionalism in her new capacity." 

     A brief biographical note of Ms Kwan is set out below:

Ms Angelina Kwan Yuen-yee
——————————–

     Ms Kwan joined the Administrative Service in September 1996 and rose to the rank of Administrative Officer Staff Grade B1 in April 2024. She has served in various policy bureaux and departments, including the Social Welfare Department, the former Health and Welfare Bureau, the Housing Department, the Security Bureau, the Chief Executive's Office, the Financial Services and the Treasury Bureau and the Chief Secretary for Administration's Private Office. She was the Head, Human Resources Planning and Poverty Co-ordination Unit, Chief Secretary for Administration's Private Office from April 2018 to June 2022, and has been serving as Deputy Secretary for Labour and Welfare (Manpower) since July 2022. 

  

     Police will implement special traffic arrangements in So Kon Po and Causeway Bay to facilitate a football match to be held at the Hong Kong Stadium on December 20 (Friday).

A.    Traffic arrangements at the commencement of the event

    Depending on the crowd and traffic conditions, the following traffic arrangements will be implemented from about 5.30pm:

Road closure
———————–

– Caroline Hill Road between its eastern junction with Leighton Road and Cotton Path;
– Part of the traffic lane of Caroline Hill Road between Eastern Hospital Road and Cotton Path;
– Westbound Hysan Avenue between Yun Ping Road and Hoi Ping Road;
– Stadium Path; and
– Lee Garden Road between Lan Fong Road and Hysan Avenue, except for green minibuses (GMBs).
 
Traffic diversions
———————————–

– Caroline Hill Road between its western junction with Leighton Road and Stadium Path will be re-routed one way southbound;
– Eastern Hospital Road between Stadium Path and Tung Lo Wan Road will be re-routed one way northbound;
– Caroline Hill Road between its western junction with Leighton Road and Link Road will have two lanes for traffic entering Caroline Hill Road from Hoi Ping Road;
– Hysan Avenue between Leighton Road and Hoi Ping Road will be re-routed one way eastbound;
– Eastbound Hysan Avenue will have two lanes for traffic turning right to Hoi Ping Road;
– Vehicles leaving the private driveway of Lee Garden One must turn left to eastbound Hysan Avenue;
– Traffic along Yun Ping Road cannot turn left to westbound Hysan Avenue, and vehicles will be diverted to Lan Fong Road and Pak Sha Road;
– If necessary, traffic along northbound Link Road downhill to northbound Caroline Hill Road must turn left to westbound Leighton Road; and
– If necessary, traffic along Lan Fong Road cannot turn left to southbound Lee Garden Road, and vehicles will be diverted to northbound Lee Garden Road, Foo Ming Street and southbound Percival Street, except for GMBs.

Passenger alighting arrangements
—————————————————————

     The drop-off zone for taxis and private cars will be arranged to set down passengers at the locations specified below:

– Western kerbside of Caroline Hill Road near the Disciplined Service Sports and Recreation Club;
– Northern kerbside of Cotton Path; and
– Southern kerbside (taxi drop-off zone) and northern kerbside (private car drop-off zone) of Eastern Hospital Road near the main entrance of Hong Kong Stadium.

B. Traffic arrangements on conclusion of the event
 
     Depending on the crowd and traffic conditions, the following traffic arrangements will be implemented from about 9.30pm:

Road closure
———————–

– Caroline Hill Road;
– Eastern Hospital Road between Caroline Hill Road and Cotton Path;
– Hoi Ping Road;
– Sunning Road, except for vehicles exit from Lee Garden Three Car Park;
– If necessary, Cotton Path, Leighton Road, and northbound Link Road (downhill), except for vehicles heading for No. 1, 3, 5 and 7 on Link Road.

Traffic diversions
———————————–

– Before the end of the event, vehicles may be permitted to leave the South China Athletic Association car parks by turning right at the western exit to northbound Caroline Hill Road;
– Before the end of the event, vehicles may be permitted to exit buildings on Eastern Hospital Road by turning right to northbound Eastern Hospital Road;
– Traffic along westbound Leighton Road cannot enter Caroline Hill Road for Link Road, and vehicles will be diverted via Wong Nai Chung Road and Broadwood Road; and
– When Leighton Road is closed, traffic along westbound Causeway Road will be diverted via Irving Street; traffic along eastbound Morrison Hill Road will be diverted via Canal Road West; traffic along southbound Percival Street must turn right to westbound Leighton Road; and traffic along southbound Canal Road East cannot turn left to Leighton Road.

C. Traffic arrangements throughout the event

Prohibition for learner drivers
——————————–

     From 5pm to 11pm, learner drivers cannot enter Tung Lo Wan Road from Causeway Road. The following roads will also be prohibited to all learner drivers:
 
– Westbound Leighton Road;
– Percival Street south of Hennessy Road;
– Caroline Hill Road;
– Link Road;
– Stadium Path;
– Cotton Path;
– Eastern Hospital Road; and
– Eastern Hospital Road service road.

Suspension of parking spaces
—————————-
 
     All on-street parking spaces on the following roads will be suspended from 5pm to 11pm:

– Stadium Path;
– Northbound Caroline Hill Road between Stadium Path and Cotton Path;
– Hoi Ping Road;
– Sunning Road; and
– Eastern Hospital Road service road.

Restrictions on access to / exit from car parks
———————————————–

     If necessary, all car parks along Caroline Hill Road, Eastern Hospital Road, Stadium Path and Cotton Path may be closed at short notice.

     Vehicles in car parks within the road closure area may not be permitted to leave during the road closure period.

     All vehicles parked illegally during the implementation of the above special traffic arrangements will be towed away without prior warning, and may be subject to multiple ticketing.  

     Actual implementation of traffic arrangements will depend on the traffic and crowd conditions in the areas. Members of the public are advised to exercise tolerance and patience and take heed of instructions of the Police on site.

     The ​Director-General of Investment Promotion of Invest Hong Kong (InvestHK), Ms Alpha Lau, and Associate Directors-General of Investment Promotion of InvestHK Mr Arnold Lau and Ms Jessica Cheng, together with more than 30 staff from the department, visited the Hong Kong Red Cross Blood Transfusion Service Central District Donor Centre today (December 18) to participate in a blood donation drive, showing their support for patients in need of blood transfusions.

     Ms Lau said, "With the festive season approaching, people are busy preparing for holidays or other festive activities, leading to a decline in blood donations during this period. At the same time, the demand for blood remains high, making blood donation particularly critical during the holidays. Companies are placing greater emphasis on corporate social responsibility (CSR). In addition to business considerations and financial performance, many local and international companies have integrated ethical practices into their decision-making processes. Therefore, while attracting businesses and investment as well as talent to Hong Kong, organising this blood donation drive not only helps save lives and fulfils our colleagues' desire to contribute to society but also aligns with the department's CSR goals."

     She continued, "Each donation can help three patients. There is no substitute for blood, and the shelf life of blood is limited. The Hong Kong Red Cross Blood Transfusion Service needs to collect 650 units of blood daily to provide sufficient blood to all hospitals across the territory, enabling patients in need to receive timely treatment. Therefore, it is of particular importance for citizens to donate blood voluntarily on a regular basis."

     Staff from InvestHK shared that the entire blood donation process was quick and painless. InvestHK encourages more companies and organisations to organise group blood donations to save lives and spread the community spirit of care and giving.

     Blood donor centres are available across the city. Mobile blood donation teams and blood donation vehicles also visit various districts regularly, making it convenient for the public to donate blood. Citizens can call the donor centres directly or make an appointment through the "HK Blood" mobile application.