Financial Secretary Paul Chan will depart for Qatar tonight to attend the 11th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) in Doha. Held under the theme “Tomorrow's Infrastructure: Impact and Innovation”, this year's meeting will bring together government officials, multilateral development institutions, business leaders and other stakeholders from around the world to discuss issues such as sustainable infrastructure, cross-border connectivity, green finance, digital transformation, and the AIIB's strategic direction and future work agenda. During his trip, Mr Chan will attend several high-level engagements, including the official meeting of the Board of Governors. He will also deliver a keynote speech at a thematic session on digital public infrastructure and hold meetings with fellow AIIB Governors, alongside local and international political and business leaders.     ​Mr Chan is scheduled to return to Hong Kong on the afternoon of September 29. In his absence, Deputy Financial Secretary Michael Wong will act as Financial Secretary.

The Government will expand two immigration facilitation schemes starting October 1 to boost economic and trade interactions and exchanges by allowing more visitors to Hong Kong. Among them, the coverage of the Immigration Facilitation Scheme for Invited Persons will extend beyond current Association of Southeast Asian Nations member states to countries and regions in Central Asia and the Middle East. Newly covered Central Asian countries include Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. Gulf Cooperation Council nations will also be included: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Consequently, all bureaus and departments can issue invitations under the initiative to facilitate invited people to visit Hong Kong for exchanges. The second one to be expanded is the Immigration Facilitation Scheme for Visitors Participating in Short-term Activities in Designated Sectors (STV Scheme). Following a review, the STV Scheme will add the social welfare sector to its existing 17 categories, enabling non-local talent to enter Hong Kong for specified short-term activities such as symposiums, workshops and research. Additionally, more authorised organisations and specified short-term activities are added across three existing fields, including international/mega events, higher education and finance. Invited people can visit Hong Kong for these activities as visitors without needing employment visas or entry permits from the […]

Overall consumer prices rose 1.7% in August year on year, the same as in July, the Census & Statistics Department announced today. Netting out the effects of the Government’s one-off relief measures, the underlying inflation rate was 1.9% in August, unchanged from the previous month. Compared to August 2025, price increases were recorded across several categories, including electricity, gas and water; miscellaneous services; transport; miscellaneous goods; meals out and takeaway food; durable goods; and housing. Meanwhile, a year-on-year decrease was recorded for basic food. Alcoholic drinks and tobacco, as well as clothing and footwear, remained unchanged over the same period a year earlier. The Government said that while inflation in fuel-related items remained high, price pressures on other components were broadly in check, keeping overall inflation at a moderate level. Looking ahead, consumer price inflation will remain under upward pressure, as elevated international oil prices continue to feed through to fuel-related components. The Government added that the renewed escalation of tensions in the Middle East of late remains a key uncertainty and warrants close monitoring. However, as price pressures on other fronts are expected to remain largely contained, overall inflation should stay moderate.

Chief Secretary Chan Kwok-ki today chaired a meeting of the interdepartmental working group on festival arrangements to co-ordinate government departments’ preparatory work ahead of the Mainland’s National Day Golden Week, which will run from October 1 to 7. Deputy Chief Secretary Cheuk Wing-hing, Secretary for Security Tang Ping-keung and Under Secretary for Transport & Logistics Liu Chun-sun attended the meeting. Mr Chan said: "The number of visitor arrivals is expected to increase during the National Day Golden Week of the Mainland. The Government will make good preparations for receiving visitors, and maintain close liaison with relevant organisations and the travel trade to prepare well for crowd management, information dissemination and arrangements of public transportation and boundary control points, with a view to responding promptly to various kinds of emergencies and ensuring the smooth operation of various aspects in receiving visitors and offering them a high-quality experience.” According to the Immigration Department’s estimate, around 1.29 million Mainland visitors will arrive in Hong Kong via the city’s sea, land and air control points during the upcoming holiday week. Compared with last year’s National Day Golden Week, the daily average number of visitor arrivals is expected to increase by over 5%. Relevant departments have minimised leave for frontline officers to enable flexible deployment of manpower and the operation of additional […]

Financial Secretary Paul Chan visited China International Capital Corporation Limited (CICC) in Beijing today and met with its Chairman Chen Liang. They had in-depth talks on securities markets, renminbi internationalisation, financial infrastructure and mutual market access. Mr Chan said that building China into a financial powerhouse requires strong international financial centres and institutions. He noted that the Hong Kong Special Administrative Region Government's recently announced First Five-Year Plan and the 2026 Policy Address focus on strengthening Hong Kong's role as a top financial hub. These plans support quality enterprises using Hong Kong to grow, serve the real economy, and boost the innovation and technology sector. Mr Chan expressed hope that CICC will maintain close ties with Hong Kong's financial regulators to help the city’s capital markets and grow its international business, especially in Belt & Road countries. By leveraging Hong Kong's unique advantages and strong support from the motherland, as well as its close international connections, both sides can help build the country’s financial strength. Secretary for Financial Services & the Treasury Christopher Hui also attended the meeting. Mr Chan and Mr Hui finished their visit to Beijing and returned to Hong Kong this afternoon.

Financial Secretary Paul Chan called on Minister of Finance Lan Fo’an in Beijing this morning to report on the arrangements for the Asia-Pacific Economic Cooperation Finance Ministers’ Meeting.  They also discussed economic and financial developments on the Mainland and in Hong Kong, as well as global economic and trade issues. Mr Chan's afternoon engagements involved a meeting with People’s Bank of China Governor Pan Gongsheng and Minister of the National Financial Regulatory Administration Ding Xiangqun, respectively. Mr Chan had in-depth exchanges with the officials on issues including the economic and financial market developments in the country as well as the international community. There were also discussions on further co-operation between the Mainland and Hong Kong in financial regulation and development. Mr Chan also gave Mr Pan and Ms Ding a brief introduction to Hong Kong’s First Five-Year Plan and the Chief Executive’s 2026 Policy Address, highlighting the planning direction and objectives for consolidating and enhancing Hong Kong’s status as an international financial centre.

The Hong Kong Special Administrative Region Government welcomes the Regional Comprehensive Economic Partnership (RCEP)'s approval today of the establishment of an Accession Working Group (AWG) to start the accession process for respective applicant economies including Hong Kong.     Secretary for Commerce & Economic Development Algernon Yau said today that the decision is a pivotal step forward in enlarging the membership of RCEP. He added that Hong Kong will actively co-operate and take part in the AWG’s work, including the relevant accession negotiations with RCEP members, with a view to completing all the required procedures as soon as possible.           Mr Yau thanked in particular the Central People’s Government, including the Ministry of Commerce, for their strong and enduring support for Hong Kong’s early accession. He also expressed appreciation to RCEP members, including the Association of Southeast Asian Nations, for their support of the AWG’s establishment.     Mr Yau said the Hong Kong SAR Government will continue to work closely with the RCEP Support Unit, and maintain close liaison with all stakeholders of RCEP members to foster favourable conditions for Hong Kong’s early accession to RCEP.     The other applicant economies admitted to the AWG are Bangladesh, Chile and Sri Lanka.

Financial Secretary Paul Chan will this afternoon depart for Beijing, where he will visit the Ministry of Finance and other central ministries, commissions and financial regulatory authorities. Secretary for Financial Services & the Treasury Christopher Hui, Monetary Authority Chief Executive Eddie Yue and Securities & Futures Commission Chief Executive Officer Julia Leung will join Mr Chan in the capital. Mr Chan will return to Hong Kong on Tuesday afternoon. During the absence of Mr Chan and Mr Hui, Deputy Financial Secretary Michael Wong will act as Financial Secretary, while Under Secretary for Financial Services & the Treasury Joseph Chan will act as Secretary.

The "First Protocol to Amend the Investment Agreement (IA) Between the Association of Southeast Asian Nations (ASEAN) and Hong Kong" was signed today in Manila, the Philippines, ensuring non-discriminatory treatment for Hong Kong firms across 10 ASEAN member states. The Commerce & Economic Development Bureau said ASEAN is a key investment partner for Hong Kong and has been the city’s third-largest destination of outward direct investment for four consecutive years, with a cumulative investment of $671.2 billion. It added that the investment agreement boosts flourishing investment relations between the two sides and strengthens Hong Kong's position as an international investment hub. The bureau said it is confident that the protocol's signing and subsequent implementation will drive steady growth in Hong Kong's economic, trade and investment relations with the ASEAN region. It will also work side by side with ASEAN partners to bring about further economic development and investment growth in the region. The protocol was signed by Under Secretary for Commerce & Economic Development Bernard Chan, Secretary of the Department of Trade & Industry of the Philippines Ma. Cristina A. Roque, and Deputy Prime Minister and Minister of Commerce of Thailand Suphajee Suthumpun. Following the signing, Hong Kong and the Philippines – the ASEAN Chair this year – co-chaired the "10th ASEAN Economic Ministers - Hong Kong, China Consultation". The protocol mainly […]

Chief Executive John Lee took questions today from members of the public regarding Hong Kong's First Five-Year Plan and his 2026 Policy Address during a Radio Television Hong Kong (RTHK) radio phone-in. After announcing the Five-Year Plan and Policy Address on Wednesday, Mr Lee answered questions this morning on various aspects of the two blueprints, including the development of the Northern Metropolis, the city's vision for leveraging artificial intelligence (AI), and its growing role as a centre for renminbi (RMB) internationalisation. Highlighting that significant resources are being allocated to the Northern Metropolis, the Chief Executive said it creates new opportunities for the city as a whole. “The Northern Metropolis represents about one-third of our geographical area, so it is a big piece of land that gives us new opportunities. “We have to ensure that we can also upgrade ourselves by diversifying our industries, because there will be more development opportunities when you have more industries of different kinds. “It is actually mentioned in our country's 15th Five-Year Plan. That means the Northern Metropolis is not just a Hong Kong development. It has been elevated as a state-driven project.” Turning to Hong Kong’s vision for artificial intelligence (AI), the Chief Executive emphasised the importance of embracing its use while being alert to its risks. “So far, my policy is to encourage knowledge and application of AI as much as possible, but […]

The Monetary Authority today announced that it has increased the base to 4.25 % with immediate effect. The increase followed the 25-basis point upward shift in the target range for the US federal funds rate on September 16. The base rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through the Discount Window are computed. It is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates, whichever is the higher.

Hong Kong has set out a roadmap to become an international Innovation and Technology (I&T) centre and a hub for high-calibre talent, as Chief Executive John Lee unveiled the city’s First Five-Year Plan.  Capitalising on the basic scientific research capabilities of five local universities ranked among the world’s top 100, the plan focuses on advancing international frontier technologies and deepening systemic I&T reforms. At the heart of this transformation is a new “north-central-south” spatial layout anchored by three major tech hubs: the Hong Kong Park area of the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone and the San Tin Technopole in the north, the Science Park in the central region, and Cyberport in the south. The city is going full steam ahead with the development of these three major I&T parks. The plan also states that it will accelerate the development of five key research and development (R&D) institutions – the Hong Kong Productivity Council, the Hong Kong Applied Science & Technology Research Institute, and newly established institutes for microelectronics, artificial intelligence, and life and health technology.  These bodies will work alongside the “dual base” of State Key Laboratories in Hong Kong and InnoHK research clusters. To advance new industrialisation, the government will support traditional industries to upgrade and transform while prioritising strategic emerging sectors […]

Hong Kong will play an active role in advancing the development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to develop a first-class, international bay area by leveraging its strong connections with the Mainland. Introducing the city’s First Five-Year Plan, Chief Executive John Lee today highlighted that the GBA serves as a strategic fulcrum of the country’s new development paradigm, demonstrating high-quality development while pioneering Chinese modernisation. Hong Kong’s participation in the GBA’s development will help to elevate the region into a first-class bay area with international influence. Through the "high-end research and development advanced manufacturing-modern services" collaboration model, the city will develop an innovation and technology industry chain. Under the Five-Year Plan, Hong Kong will continue to promote the “hard connectivity” of infrastructure by advancing cross-boundary railway projects and promoting the interconnectivity of computing infrastructure with other GBA cities, thereby expediting the formation of large intelligent computing clusters. The city will facilitate the mutual recognition of professional qualifications in the GBA and align healthcare services and regulatory frameworks in the area. It will also enhance the mutual capital market access mechanism and facilitate the flow of personnel, materials, capital and data. The plan also pledges to strengthen cooperation between Hong Kong’s higher education […]

Major development initiatives were unveiled today in Chief Executive John Lee’s Policy Address to expedite the development of the Northern Metropolis (NM). Noting the development of the NM is well underway, Mr Lee elaborated today that construction works have begun at four new development areas while site formation work for the site in Ngau Tam Mei will start next year. As for the remaining four new development areas, statutory planning and related procedures will begin in the coming year. The Government will continue to streamline procedures, including using a digital platform to shorten the approval time for works projects by three to six months, reducing the time for the first approval for building plans of new railway projects by half to 30 days, and optimising foundation designs to save about $1.4 billion in the construction costs of NM public housing. Furthermore, the Government will expand the application scope of the Hong Kong Environmental Database by optimising planning with artificial intelligence to reduce the time needed for the environmental impact assessment (EIA) process to about 15 to 24 months from about 36 to 48 months. For NM-related projects, the time needed for the EIA process will be targeted at about 15 to 20 months. The Government will introduce an amendment bill into the Legislative Council by year-end, providing preferential tax rates of 5%, or half-rate, for selected enterprises operating in key sectors such as finance, advanced […]

Delivering his 2026 Policy Address this morning, Chief Executive John Lee outlined various measures to strengthen Hong Kong’s “four centres”, or the city’s development as an international finance, maritime and aviation, trading, and innovation and technology centre. Key initiatives include developing a commodity trading system, strengthening high value-added maritime services, fostering the development of the sustainable aviation fuel (SAF) industry, and building a high value-added supply chain services centre. Financial centreRegarding the city’s diversified development as an international financial centre, Mr Lee said Hong Kong would aim to consolidate the leading positions of its stock market, deepen its presence in areas such as bonds, specialty insurance and Renminbi (RMB) business and make forward plans for emerging sectors such as tokenised products. In terms of RMB business, the Hong Kong Monetary Authority is exploring enhancements to the currency swap agreement with the People’s Bank of China, as well as arrangements for direct exchanges between offshore RMB and other currencies. On bonds, connectivity will be strengthened between the Central Moneymarkets Unit and markets in Europe and America, the Middle East, Central Asia and the Association of South East Asian Nations. Meanwhile, a consultation will be held on streamlining prospectus disclosure requirements to facilitate the listing of quality overseas enterprises in Hong Kong, and tests will be […]