Good Employer Charter 2024 to promote family-friendly employment practices

The Labour Department (LD) held the kick-off ceremony of the Good Employer Charter 2024 on 24 November 2023, calling on employers of various sectors to join the charter, and adopt good human resource management measures and implement family-friendly employment practices.

Speaking at the kick-off ceremony, the Commissioner for Labour, Ms May Chan, said that good human resource management is the key for enterprises in recruiting and retaining employees. The Good Employer Charter 2024 encourages enterprises to offer employment benefits that are more favourable than statutory requirements, promote work-life balance, introduce employee-caring employment practices and maintain good communication with employees having regard to their operational circumstances.

She pointed out that this round of the Good Employer Charter, with focus on encouraging “Supportive Family-friendly Good Employer”, aims to pay tribute to all good employers who implement family-friendly employment practices and to spur them on. She further added that 2023 Policy Address has announced a series of initiatives aimed at promoting fertility, to which family-friendly employment practices can positively contribute.

Ms Chan said she hopes that the Good Employer Charter 2024 can further encourage the business sector and different groups in the society to jointly promote good human resource management culture, create a family-friendly workplace, and foster a harmonious and inclusive community. In a short video for the event, the Secretary for Labour and Welfare, Mr Chris Sun, calls on different organisations to join the charter actively.

The Good Employer Charter 2024 is supported by eight organisations, namely the Chinese General Chamber of Commerce, Hong Kong, the Chinese Manufacturers’ Association of Hong Kong, the Employers’ Federation of Hong Kong, the Federation of Hong Kong Industries, the Hong Kong General Chamber of Commerce, the Hong Kong General Chamber of Small and Medium Business, the Hong Kong Institute of Human Resource Management, and the Hong Kong Small and Medium Enterprises Association. A thematic talk was arranged at the event, and small and medium-sized enterprises were also invited to share their successful experiences in carrying out family-friendly employment practices.

The LD awarded the first Good Employer Charter in 2018 and then in 2020. In 2023, the LD launches the Good Employer Charter for the third time to encourage more enterprises to join the fleet of good employers. For event details, please visit the website: www.gec.labour.gov.hk.

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/24/P2023112400376.htm?fontSize=1.

Strengthening Fintech Co-operation between Hong Kong Monetary Authority and Financial Services Regulatory Authority of Abu Dhabi Global Market

The Hong Kong Monetary Authority (HKMA) and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) jointly announced on 22 November 2023  the exchange of a Memorandum of Understanding (MoU) to deepen the ongoing partnership on fintech between the two authorities, particularly in the areas of cross-border trade-related data exchange and business collaboration, with a view to further promoting inclusive and innovative financial services leveraging fintech and data in both markets.

The MoU was signed by the Executive Director (Financial Infrastructure) of the HKMA, Mr Colin Pou, and the Senior Executive Director - Authorisation & Fintech of the FSRA, Mr Kwok Wai-lum. The exchange of the MoU is an important milestone in cementing and strengthening the collaboration between the two authorities, building upon the solid foundation laid by the signing of a Co-operation Agreement in 2018.

Under the MoU, the two authorities will contemplate joint Proof-of-Concept projects to connect the HKMA’s Commercial Data Interchange (Note 1) to the ADGM’s SME Financing Platform (Note 2). The two authorities will also join forces to explore use cases for cross-border data exchange with user consent to address potential pain points in cross-border banking services such as small and medium-sized enterprise (SME) account opening and financing to facilitate cross-border trading. 

Mr Pou said, “We are delighted to deepen our collaboration and knowledge exchange with the FSRA through this MoU. This underscores our shared commitment to advancing fintech development and unleashing the potential of data. Both authorities recognise the importance of creating next-generation data platforms and enabling cross-border data exchange in the age of digitalisation. We trust that our collective effort will foster financial innovation and empower SMEs in both jurisdictions with enhanced financing opportunities.”

Mr Kwok said, “This MoU further strengthens the strategic partnership between the FSRA and HKMA to foster cross-border trade and business leveraging technological innovation. We are excited by the tremendous possibilities that the digital bridge between our platforms can bring, in connecting the marketplace of the UAE and the Greater Bay Area through the respective gateways of ADGM and Hong Kong. We look forward to working closely with the HKMA in building a vibrant ecosystem for SMEs in both jurisdictions.”

Note 1: Launched in October 2022 by the HKMA, Commercial Data Interchange is a consent-based financial data infrastructure that aims to facilitate enterprises, in particular SMEs, to share their commercial data at both public and private data sources with banks in Hong Kong, thereby enhancing their access to financial services.

Note 2: Developed by the ADGM, the purpose of the SME Financing Platform is to connect SMEs and lenders through a seamless digital platform with features that have been designed to financially empower and support the growth of the SME ecosystem across the United Arab Emirates (UAE).

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/22/P2023112200327.htm?fontSize=1.

Transport Department alerts public to fraudulent websites of HKeToll

The Transport Department (TD) on 22 November 2023 alerted members of the public to beware of fraudulent website addresses (“gov.hktc.etollu.xyz” and “etollu.xyz”) that pretend to be HKeToll, which seek to deceive users into making payments and obtain their credit card information.

The TD clarifies that the above websites have no connection with HKeToll and has referred the case to the Police for follow-up. The TD reminds that if a vehicle owner wishes to pay an outstanding toll online, they must log in to the HKeToll website (hketoll.gov.hk) or mobile app.

Members of the public should stay alert when receiving unidentified messages. They should not visit suspicious websites, nor should they disclose any personal information. Anyone who has provided his or her personal information to the websites concerned should contact the Police. For enquiries about HKeToll, please call 3853 7333.

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/22/P2023112200414.htm?fontSize=1.

Smart Traffic Fund accepts applications year-round

The TD announced on 22 November 2023 that the 11th batch of five projects has been approved by the Management Committee on Smart Traffic Fund, involving a total grant of around $49.7 million.

The five approved projects in the latest batch cover electronic taximeter system, truck platooning technology, parking management system, digital twin-based long-span bridge health monitoring system, and dedicated line connected autonomous bus. Details of the projects are available on the Fund’s website (www.stf.hkpc.org).

The Fund accepts applications year-round to provide funding support to local organisations and enterprises for conducting research and application of innovation and technology with the objectives of enhancing commuting convenience, enhancing efficiency of the road network or road space, and improving driving safety. All applications are considered and assessed in batches by the Management Committee, which is chaired by the Deputy Commissioner for Transport (Planning and Technical Services) and comprises representatives from the Government, experts in the industry and relevant stakeholders.

The TD appeals to interested organisations and enterprises for participation to help make the Fund a success, and to build Hong Kong into a more liveable and sustainable city by driving Hong Kong toward a new era of transportation.

Application details are available on the Fund’s website. For enquiries, please contact the Hong Kong Productivity Council, the Secretariat of the Fund, on 2788 5536 or stf_sec@hkpc.org.

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/22/P2023112200277.htm?fontSize=1.

Public consultation on second-stage environmental hygiene-related legislative amendment proposals launched

The Government launched a two-month public consultation on the second-stage environmental hygiene-related legislative amendment proposals on 21 November 2023. Members of the public are welcome to offer their views.

The Government spokesman said that the Government was committed to enhancing the environmental hygiene and cityscape of Hong Kong. In view of this, a comprehensive review had been conducted on the existing statutory powers and penalties relating to environmental hygiene to enhance the efficiency, effectiveness and deterrent effect of enforcement actions against thorny environmental hygiene problems. Work under the legislative review had been implemented in two stages. The proposal of the first stage concerning raising the fixed penalty and the maximum fines that may be imposed by the court for offences related to environmental hygiene and shopfront extension has come into effect on 22 October 2023.

The Government now proposes to amend the Public Health and Municipal Services Ordinance (Cap. 132) and other related ordinances, supplemented by additional administrative measures, to enhance enforcement efficiency and deterrence, so as to achieve long-term improvements in the following "longstanding, big and difficult" environmental hygiene, public health nuisances, and street management problems:

• shopfront extension;
• public health nuisances such as water seepage in buildings, water dripping from air-conditioners, and "garbage apartments";
• proliferation of vermin;
• occupation of public places (e.g. rear lanes) by miscellaneous articles causing obstruction to scavenging operations; and
• illegal display or affixation of bills or posters.

The preliminary legislative amendment proposals by the Government include empowering the Food and Environmental Hygiene Department (FEHD) to remove shop articles obstructing public places without the assistance from the police, in order to enhance the capability of the FEHD in handling shopfront extension problem independently; extending the hours for public officers to enter the premises concerned to investigate nuisances (e.g. water seepage) and stipulating the non-compliance with the "Notice of Intended Entry" issued by government officers is an offence, so as to ensure that enforcement officers can enter the premises concerned to investigate public health nuisances within a reasonable time; empowering the FEHD to set up equipment in places infested with vermin for surveillance of vermin infestation and stipulating the tampering with such equipment is an offence; as well as raising the penalty for causing obstruction to scavenging operations, illegal display or affixation of bills or posters, non-compliance with "Nuisance Notice" and "Nuisance Order", etc. The Government consulted the Panel on Food Safety and Environmental Hygiene of the Legislative Council on the preliminary proposals on the second-stage legislative amendments in July 2023.

The Government spokesman said, "We understand that there may be various views in the community on the various environmental hygiene problems. We are therefore conducting a two-month public consultation to earnestly listen to the community's views on the legislative amendment proposals before finalising them."

The consultation paper has been uploaded to the website of the FEHD (www.fehd.gov.hk/english/public_consultation/2023.html). From 21 November 2023 until 21 January 2024, member of the public may send their views by post (addressed to Food and Environmental Hygiene Department, 45/F, Queensway Government Offices, 66 Queensway, Hong Kong), by fax (2530 1368), by email (eh_legislative_review@fehd.gov.hk) or using the e-form (eform.cefs.gov.hk/form/feh006/en/).

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/21/P2023112100195.htm.

HKMA welcomed launch of a pilot programme under "Credit Data Smart"

The Hong Kong Monetary Authority (HKMA) welcomed the joint announcement of the Hong Kong Association of Banks, the Hong Kong Association of Restricted Licence Banks and Deposit-taking Companies, and the Hong Kong S.A.R. Licensed Money Lenders Association Limited (collectively as the Industry Associations) on the official naming of the Multiple Credit Reference Agencies Model as "Credit Data Smart" and the launch of a pilot programme on 17 November 2023.
    
The HKMA has been working closely with the Industry Associations to introduce more than one consumer credit reference agency (CRA) in Hong Kong through the Credit Reference Platform, with a view to promoting the market competition of consumer credit reference services in Hong Kong, enhancing the service quality of consumer CRAs and reducing the operational risk of having only one commercially run service provider in the market, particularly the risk of single point of failure.
    
The HKMA fully supports the development of "Credit Data Smart", which is an initiative under the "Fintech 2025" strategy in creating the next-generation data infrastructure and driving fintech development in Hong Kong. The HKMA would like to thank the Industry Associations, the Platform Operator, the Business Operator, the CRAs and other stakeholders for their effort in implementing "Credit Data Smart".
    
The launch of the pilot programme is an important step in the implementation of "Credit Data Smart". The HKMA looks forward to seeing the three selected CRAs officially offer the public with secure and reliable consumer credit reference services upon the completion of the pilot programme.

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/17/P2023111700442.htm.

Inland Revenue (Amendment) (Aircraft Leasing Tax Concessions) Bill 2023 gazetted

The Government published in the Gazette on 17 November 2023 the Inland Revenue (Amendment) (Aircraft Leasing Tax Concessions) Bill 2023 to enhance the aircraft leasing preferential tax regime (Regime) introduced in 2017, with a view to strengthening Hong Kong's competitiveness in the global aircraft leasing industry.

The Bill amends the Inland Revenue Ordinance (Cap. 112) with proposed legislative amendments covering the following aspects:

1. to provide qualifying aircraft lessors with tax deduction of the acquisition cost of aircraft;
2. to expand the scope of the Regime to include wet lease and funding lease and remove the one-year term of lease restriction;
3. to provide for a more general meaning of "aircraft leasing activity" so that the Regime will cover leasing activities other than leasing aircraft to aircraft operators;
4. to allow deduction of interest payable for acquisition of aircraft to a financier outside Hong Kong who is not a financial institution and may be an associate of the borrower; and
5. to prescribe threshold requirements for aircraft lessors and aircraft leasing managers qualifying for the Regime to comply with the requirements of Organisation for Economic Co-operation and Development (OECD).

A Government spokesman said, "Aircraft leasing is global and footloose in its operations, and tax incentive is a key, if not the most important, consideration for aircraft lessors to choose where to conduct their businesses. With the proposed enhancement measures, we strive to capitalise on our strengths in finance and professional services to boost the competitiveness of Hong Kong for this highly mobile and globalised industry, thereby diversifying the economic structure of Hong Kong and promoting Hong Kong's soft power as an international aviation and financial hub."

The Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area advocates leveraging Hong Kong's strengths in financial and logistics services to develop high-value added cargo, aircraft leasing and aviation financing services. The report to the 20th National Congress of the Communist Party of China supports Hong Kong to give full play to its strengths and distinctive features and to consolidate and elevate its international position in such fields as finance, trade, shipping and aviation. There have been noticeable market changes in the global aircraft leasing industry in recent years due to reasons including the pandemic. The upcoming implementation of international tax reform proposals drawn up by the OECD (commonly known as BEPS 2.0) will also diminish the competitiveness of the Regime. The Regime needs to keep pace with market changes and international tax reforms to retain the existing aircraft leasing businesses and the associated tax revenue and economic benefits as well as capturing a larger global market share, the spokesman added.

Upon the passage of the Bill, the legislative amendments will take retrospective effect from the year of assessment beginning on 1 April 2023, to allow the early implementation of the enhancement measures.

The Bill will be introduced into the Legislative Council for first and second readings on 29 November 2023.

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/17/P2023111700255.htm.

Electronic Transactions (Amendment) Bill 2023 gazetted

The Government published in the Gazette on 17 November 2023 the Electronic Transactions (Amendment) Bill 2023 (the Bill) which facilitates the full implementation of e-government services by bureaux and departments (B/Ds).

The Bill seeks to amend the Electronic Transactions Ordinance (Cap. 553) (ETO) and its related subsidiary legislation for the service of an electronic record to satisfy the requirement of service of a document by registered post or any other means as stipulated in certain legislation, and for the service of a single electronic copy to satisfy the requirement of service of a document in multiple physical copies.

A spokesman for the Innovation, Technology and Industry Bureau said, "In order to meet the target set out in the 2022 Policy Address to turn submission of all government forms and applications (save for those otherwise subject to legal requirements or international conventions/practices) to electronic form by mid-2024, B/Ds have been pressing ahead with the digitalisation of public services mainly through administrative means, improving business processes and system upgrades. At present, nearly 90 per cent of the services provided by B/Ds have already offered the e-submission option."

The spokesman continued, "To accelerate the pace of introducing e-government services, we propose to amend the ETO to remove the restrictions in relation to the service of a document by specified means and in a specified number of copies of the document in certain legislation. By doing so, we can expedite the full digitalisation of public services of B/Ds by providing an electronic option for more government services, thereby offering greater convenience to members of the public and the business sector using these public services".

The Bill will be introduced into the Legislative Council for first reading on 29 November 2023.

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/17/P2023111700220.htm.

Hong Kong Academy of Finance's 2024 intake of Financial Leaders Programme opens for applications

The Hong Kong Academy of Finance (AoF) announced that the 2024 intake of the Financial Leaders Programme (FLP) is open for application starting from 15 November 2023. Commencing in 2022, the FLP aims to inspire financial talents, to equip them with a mindset to lead and look at issues from a macro perspective, as well as to expand their network.

The FLP offers a unique opportunity for participants to engage in dialogue with top leaders in financial services and other sectors. Each year, the FLP will admit around 20 promising financial talents from a diverse background at approximately two levels below the chief executive officer position. The FLP will be offered on a part-time basis and last for about nine months, with the 2024 Programme commencing in April 2024. Application will open between 15 November and 17 December 2023. Applications received will be considered by the Membership Committee of the AoF. Further information about the FLP and the application form are available from the AoF website.

The FLP is jointly supported by all the financial regulators in Hong Kong, namely the HKMA, the Securities and Futures Commission, the Insurance Authority and the Mandatory Provident Fund Schemes Authority, and the Financial Services and the Treasury Bureau.

Mr Eddie Yue, Chairman of the AoF and the Chief Executive of the HKMA, said, "To strengthen Hong Kong's position as an international financial centre amid this complex and ever-changing macro environment, we need to develop more financial leaders with global vision and leadership mindset to drive innovations and spearhead changes. The FLP has been running for two years and has received very positive feedback from the participating financial institutions, regulators, and cohort members. I strongly recommend the FLP and encourage our financial talents to seize the opportunity to join or nominate your promising staff to join."

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/15/P2023111500304.htm.

Stamp Duty (Amendment) (Stock Transfers) Ordinance 2023 gazetted

The Government welcomed the Legislative Council's passage of the Stamp Duty (Amendment) (Stock Transfers) Bill 2023 on 15 November 2023 to give effect to the measure of reducing the rate of Stamp Duty on Stock Transfers (the Stamp Duty) to 0.1 per cent as announced by the Chief Executive in the 2023 Policy Address. The Amendment Ordinance was published in the Gazette on 16 November and came into operation on 17 November.

A Government spokesman said, "The reduction of the rate of the Stamp Duty will lower investors' transaction costs, improve market sentiment, and enhance the competitiveness of Hong Kong's stock market. The Government will work with financial regulators and the Hong Kong Exchanges and Clearing Limited to follow up on the other measures recommended by the Task Force on Enhancing Stock Market Liquidity to promote the sustainable development of the market."

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/15/P2023111500359.htm.

Trade consultation on proposed amendments to Buildings Energy Efficiency Ordinance launched

As stated by the Environment and Ecology Bureau (EEB), the Electrical and Mechanical Services Department (EMSD) launched a two-month trade consultation on the proposal to amend the Buildings Energy Efficiency Ordinance (Cap. 610) (BEEO) to strengthen the energy efficiency of buildings and promote decarbonisation in Hong Kong on 15 November 2023. The trade consultation will end on 15 January 2024.

To enhance promotion of energy saving and decarbonisation in buildings, "The Chief Executive's 2023 Policy Address" announced that the Government would consult the trade by end-2023 on the proposal of amending the Buildings Energy Efficiency Ordinance, including extending the scope of regulation to more types of buildings, mandating the disclosure of information related to energy audit reports and shortening the interval of energy audits, with the target of finalising the proposed amendments and commencing the legislative work within 2024.

A spokesperson for the EEB said, "Buildings account for 90 per cent of Hong Kong's electricity consumption, and over 50 per cent of our carbon emission is attributable to generating electricity for our buildings. Improving the energy efficiency of buildings will reduce the demand for power consumption and generation, which will not only reduce carbon emissions, but also lessen the financial burden on the public for the increased use of clean fuels for electricity generation. Through the legislative amendment, more buildings will enhance their energy efficiency, and further promote energy saving and decarbonisation."

To prepare for the legislative amendments to the BEEO, the EMSD is consulting representatives of the trades concerned, professional bodies and relevant stakeholders. The EMSD also welcomes views from other sectors on the proposal. The consultation document is available for viewing and downloading on the EMSD's website (www.emsd.gov.hk/beeo/en/pee/BEEO_consult_2023_eng.pdf).

Relevant views may be submitted to the EMSD by post (Energy Efficiency Office, Electrical and Mechanical Services Department, 3 Kai Shing Street, Kowloon Bay, Hong Kong), email (beeo-consultation@emsd.gov.hk) or fax (2890 6081).

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/15/P2023111500189.htm.

Home and Youth Affairs Bureau launched new round of Funding Scheme for Youth Exchange in the Mainland

The Home and Youth Affairs Bureau (HYAB) and the Youth Development Commission (YDC) jointly launched the 2024-25 Funding Scheme for Youth Exchange in the Mainland on 13 November 2023. Eligible non-governmental organisations (NGOs) are invited to submit applications.

The Government attaches great importance to youth development. The HYAB promulgated the Youth Development Blueprint in end-2022, which states that the Government will further strengthen the breadth and depth of the Mainland and international internship and exchange programmes with a view to enhancing young people's understanding of the country and supporting their integration into the overall development of the country. Through the Funding Scheme for Youth Exchange in the Mainland, the HYAB and the YDC provide funding for NGOs to organise youth exchange projects on the Mainland for Hong Kong young people to enhance their awareness and understanding of the country's development, foster exchange with Mainland people and strengthen their sense of national identity.

The 2024-25 funding scheme accepts two rounds of applications. Details and application forms of the first round are available on the YDC website (www.ydc.gov.hk/en/programmes/ep/ep_fundingscheme.html). Interested NGOs should submit their applications on or before 11 December. The second round of application will be launched in mid-2024.

For relevant press release, please visit https://www.info.gov.hk/gia/general/202311/13/P2023111300368.htm.

Support Measures relating to Liquidity

Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund)

Following the signing of the Investment Promotion and Protection Agreement between Hong Kong and Türkiye, the geographical scope of funding support of the BUD Fund has been extended to Türkiye with effect from 31 October 2023 to further support Hong Kong enterprises in developing their businesses in the market.  The total number of economies covered under the BUD Fund is thereby increased to 381 .

The HKPC as the BUD Fund implementation partner regularly organises seminars/webinars in order to enhance enterprises’ understanding of the BUD Fund, including "Easy BUD". For more details of the BUD Fund, please visit its website (www.bud.hkpc.org/en) or contact the HKPC at 2788 6088.

Upcoming event for December 2023 is as follows:

Date	Theme of Webinar
6 December 2023	Webinar on the BUD Fund (General and Easy BUD) More Details (in Chinese only)

 
You are welcomed to join the webinar.

1Besides the newly added economy of Türkiye, the other 37 economies covered under the BUD Fund are the Mainland, New Zealand, the four member states of the European Free Trade Association (i.e. Iceland, Liechtenstein, Norway and Switzerland), Chile, Macao, the ten member states of the Association of Southeast Asian Nations (comprising Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam), Georgia, Australia, Austria, Belgo-Luxembourg Economic Union, Canada, Denmark, Finland, France, Germany, Italy, Japan, Korea, Kuwait, Mexico, the Netherlands, Sweden, the United Arab Emirates and the United Kingdom.