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The value of total retail sales in May, provisionally estimated at $31.3 billion, was up 2.4% compared with the same month in 2024, the Census & Statistics Department announced today.   After netting out the effect of price changes over the same period, the provisional estimate for the month was 1.9% higher year-on-year.   Of…

Deputy Chief Secretary Cheuk Wing-hing, Deputy Financial Secretary Michael Wong, Deputy Secretary for Justice Cheung Kwok-kwan and Secretary for Constitutional & Mainland Affairs Erick Tsang visited a Chinese restaurant in Wan Chai today after attending the flag-raising ceremony and reception to celebrate the 28th anniversary of the establishment of the Hong Kong Special Administrative Region….

The value of residential mortgage loans approved in May was $26.6 billion, a 5.3% increase compared with April, the Monetary Authority announced today.   Mortgage loans financing primary market transactions decreased 4.2% to $8.9 billion, while those financing secondary market transactions increased 7.1% to $14.6 billion.   Loans for refinancing increased 33.7% to $3 billion….

The Financial Services & the Treasury Bureau (FSTB) and the Securities & Futures Commission (SFC) today launched a joint public consultation on the legislative proposals for establishing licensing regimes for digital asset (DA) dealing and custodian service providers.   The public consultation will last until August 29.   Under the proposed licensing regime for DA…

Invest Hong Kong today hosted the inaugural Hong Kong Low Altitude Economy Forum.   Themed “Dream to the Sky”, the forum brought together leaders from the government, industry, academia and research sectors to explore the policy direction, technological development and application prospects of a low-altitude economy (LAE). They discussed regulatory frameworks, cross-boundary collaboration and infrastructure…

The Committee on Education, Technology & Talents (CETT), led by Chief Secretary Chan Kwok-ki met the presidents of eight University Grants Committee (UGC)-funded universities today to exchange views on the work of promoting integrated development of education, technology and talent.   At the meeting, Mr Chan introduced the CETT’s work plan to the university presidents….

Commissioner for Belt & Road Nicholas Ho this week led a delegation to Indonesia and Malaysia to promote Hong Kong’s professional services in the fields of infrastructure and construction and to explore opportunities for co-operation.   The delegates visited Jakarta, Indonesia on Monday and Tuesday, then proceeded to Kuala Lumpur, Malaysia, yesterday and today. They…

Financial Secretary Paul Chan attended the 10th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) in Beijing today. He also held separate meetings with Minister of Finance Lan Fo’an and AIIB President Jin Liqun.   Mr Chan participated in the opening ceremony of the annual meeting and joined the…

The Financial Services & the Treasury Bureau welcomed the launch of the Shanghai Gold Exchange (SGE)’s first offshore gold delivery vault in Hong Kong and the listing of relevant gold contracts for delivery in Hong Kong on its International Board today.   Secretary for Financial Services & the Treasury Christopher Hui said that the SGE’s…

The Government today issued its “Policy Statement 2.0 on the Development of Digital Assets in Hong Kong”, reinforcing a commitment to establishing Hong Kong as a global hub for innovation in the digital asset field.   The statement sets out a vision for a trusted and innovative digital asset ecosystem that prioritises risk management and…

Financial Secretary Paul Chan today attended the opening ceremony of the World Economic Forum Annual Meeting of the New Champions 2025 and a discussion session as he wrapped up his Tianjin visit and proceeded to Beijing in the evening.   In the morning, Premier Li Qiang attended the opening ceremony of the annual meeting, also…

Secretary for Financial Services & the Treasury Christopher Hui said today Hong Kong shares the Asian Infrastructure Investment Bank’s (AIIB) mission of providing high-quality financial disclosures as a reliable player that builds trust with stakeholders.   He made the statement during a side event at the AIIB’s 10th Annual Meeting of the Board of Governors…

The Innovation & Technology Commission stated today that it has introduced an enhancement to the New Industrialisation Funding Scheme (NIFS) that includes streamlined procedures to speed up the process of approving applications.   In addition to noting that the enhancement applies to those seeking funding support of no more than $2.8 million, the commission emphasised…

Secretary for Commerce & Economic Development Algernon Yau yesterday attended the China Forum, organised by Business France, in Paris, as he wrapped up a week-long visit to France.   Speaking at the forum, Mr Yau remarked that Asia is currently contributing 60% to global economic growth. He added that Asia, and in particular the Mainland…

Chief Executive John Lee today officiated at an Invest Hong Kong (InvestHK) reception for new establishments of international and Mainland businesses in Hong Kong and encouraged companies to seize the myriad opportunities in the city to expand globally.   ​Mr Lee also reaffirmed Hong Kong’s role as a “super connector” and “super value-adder” connecting the Mainland…

Financial Secretary Paul Chan today attended the World Economic Forum Annual Meeting of the New Champions 2025 in Tianjin, and led representatives from about 20 startups and enterprises to visit the Tianjin Binhai High-tech Industrial Development Area for business matching activities.   At the annual meeting, also known as the Summer Davos, Mr Chan joined…