SUCCESS-supported Activity
Leadership & Management Seminar Series – Innovating Food Delivery (foodpanda + Meituan + McDonald’s Hong Kong)
(This seminar will be held at Fairmont House on 11 January 2024)
This seminar is organised by the Hong Kong Management Association. SUCCESS is one of the supporting organisations. In this seminar, business leaders will share their management wisdom and experience, with a view to enhancing the leadership and management skills of business executives and elevating the management standards of companies. (This seminar will be conducted in Cantonese and Putonghua.)
More Details (in English; in Chinese) and Registration
Public consultation on Budget launched
The Hong Kong Special Administrative Region Government commenced the public consultation exercise for the 2024-25 Budget on 17 December 2023.
The Financial Secretary, Mr Paul Chan, said, “This year, Hong Kong’s economy has been recovering from the COVID pandemic, and the city has fully resumed convenient travel with the Mainland and the world. The economy is picking up with positive growth, though the strength of recovery has been weaker than was expected at the beginning of this year due to factors such as high interest rates around the globe and geopolitics. Looking to next year, the external environment will remain complex and full of uncertainties. As a small and fully open economy, Hong Kong will continue to face challenges. In preparing for the 2024-25 Budget, we will pursue development for promoting stability, and continue to suitably allocate resources to drive economic growth and bring tangible benefits to the people. We need to make forward planning for Hong Kong’s long-term and sustainable development, to grow the economic pie together and make it better. At the same time, we will strive to achieve more inclusive development so that our residents could better share the fruits of economic progress.
“I invite members of the community to actively express their views on the coming Budget.”
Members of the public can share their views through various channels, including visiting the website www.budget.gov.hk or the dedicated Facebook page for the Budget (www.facebook.com/BudgetGovHK), or by email (budget@fstb.gov.hk), phone (2810 3768), fax (2147 5770) or post (Budget Consultation Support Team, 24/F, Central Government Offices, 2 Tim Mei Avenue, Tamar, Hong Kong).
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/17/P2023121600601.htm?fontSize=1.
Continued increase in Hong Kong’s gross expenditure on research and development in “Hong Kong Innovation Activities Statistics 2022”
According to the report “Hong Kong Innovation Activities Statistics 2022” released on 21 December 2023 by the Census and Statistics Department, the gross domestic expenditure on research and development (GERD) of Hong Kong in 2022 amounted to $30,138 million, representing an increase of 8 per cent compared with the corresponding figure in 2021. The GERD as a ratio to the Gross Domestic Product (GDP) increased to 1.07 per cent in 2022.
A Government spokesman said, “The country indicates clear support in the National 14th Five-Year Plan for Hong Kong to develop into an international innovation and technology (I&T) centre. I&T has always been a top priority of the Government. In recent years, the Government has invested heavily in developing I&T infrastructure, promoting research and development (R&D), attracting and nurturing talent, supporting start-ups, etc. Moreover, since taking office, the current-term Government has launched a series of I&T measures to further enhance the I&T ecosystem in Hong Kong. It is encouraging to see that the GERD and the GERD as a ratio to the GDP have recorded satisfactory growth in 2022. We will continue to promote the I&T development in Hong Kong at full steam following the four broad development directions as set out in the Hong Kong Innovation and Technology Development Blueprint.”
The spokesman also stated that a series of measures have been announced in the 2023 Policy Address, including pressing ahead with new industrialisation, facilitating the R&D of microelectronics and artificial intelligence development, fostering the synergistic development of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, etc. In addition, the Research, Academic and Industry Sectors One-plus Scheme (RAISe+ Scheme) was launched in October 2023 to promote the “1 to N” transformation and commercialisation of R&D outcomes. The results of the first round of applications under the RAISe+ Scheme will be announced in the first quarter of 2024.
“I&T is instrumental in societal progress and provides key impetus for Hong Kong’s high-quality economic development. The Government will strive to take forward various policy measures to realise the vision of developing Hong Kong into an international I&T centre,” the spokesman added.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/21/P2023122100388.htm?fontSize=1.
Interbank Account Data Sharing pilot programme
The Hong Kong Monetary Authority (HKMA) announced on 21 December 2023 the upcoming launch of the pilot programme of the Interbank Account Data Sharing (IADS) initiative, which aims to allow customers to securely and efficiently share their bank account data with other banks subject to customer consent.
In collaboration with the Hong Kong Association of Banks and the banking industry, the HKMA’s Fintech Facilitation Office has completed a preliminary study of the IADS initiative. The study findings suggest that sharing customer bank account data between banks could help digitalise banking operations, strengthen risk management of banks, and enhance customer experience. Through the study, the rules and standards facilitating interbank customer-consented data sharing have been established for the IADS pilot programme, covering retail, corporate and small and medium-sized enterprise customer segments.
The IADS pilot programme, covering deposit account information (Note), will commence on 1 January 2024, with the participation of 28 banks (see Annex). It is expected that the banks will gradually develop new and innovative banking services, such as streamlined loan applications, consolidated account views and tailored data-driven services. Throughout the pilot programme, the HKMA will monitor the implementation progress and market developments, and further formulate a possible implementation approach of the IADS initiative in the future.
Mr Howard Lee, Deputy Chief Executive of the HKMA, said, “The IADS pilot programme marks a significant milestone in fostering a customer-centric banking landscape. We expect this programme will empower customer to further unlock the potential of their account data at banks. By enabling consent-based and secure interbank account data sharing, both banks and customers will benefit from improved efficiency, lowered cost and innovative digital services and solutions, fuelling the growth of the digital economy in Hong Kong.”
Note: Deposit account information refers to account availability, status, balance, and transaction details.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/21/P2023122100240.htm?fontSize=1.
Green Tech Fund approves eight projects in third round of applications
The Secretariat of the Green Tech Fund (GTF) said on 21 December 2023 that a total of eight projects have been approved in the third round of applications, involving a grant of around $30 million. Together with the first and second rounds of applications, the GTF has so far approved 30 projects, involving a total grant of around $130 million.
Eighty applications were received in the third round of applications from December 2022 to March 2023. The eight research and development (R&D) projects approved in this round cover research projects on promotion of new energy technology, energy saving and green building, turning waste into resources and green transport. They are:
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New energy technology: Development of an innovative proton exchange membrane electrolysis cell to improve the performance and cost efficiency in hydrogen production, promoting the application of hydrogen energy; development of a seawater desalination system integrating with electrolysis for hydrogen production and an innovative membrane technology to explore the feasibility of using desalinated seawater to produce hydrogen and recovering the heat generated during hydrogen production for seawater desalination; development of an intelligent energy supply station powered by ammonia to promote the development and application of low-carbon energy.
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Energy saving and green building: Development of exterior material for building with textile waste which promotes energy saving of buildings.
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Turning waste into resources: Utilisation of waste ashes to replace cement in deep mixing piles for land reclamation, which reduces the disposal of waste ashes and carbon emissions in land reclamation; development of an innovative fat, oil and grease (FOG) interception technology to reduce FOG from wastewater of catering services and turn the recovered FOG into energy; develop an ammonia pretreament system for food waste, to enhance the efficiency in operation of O · Park, and promote the turning of food waste into energy.
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Green Transport: Development of aqueous rechargeable batteries, to solve the flammability problem of traditional electric vehicle batteries, and improve the safety and lifetime of batteries for electric vehicles.
The list of the eight approved R&D projects is given in the Annex. Relevant details are also published on the GTF webpage (www.gtf.gov.hk/en/project_information/approved_projects.html). These projects will help promote R&D as well as application of green technologies in different areas, thereby expediting the low-carbon transformation in Hong Kong to strive towards the goal of carbon neutrality.
The GTF is open for the fourth round of applications from 21 December 2023 to 20 March 2024. R&D projects that fall into four areas, namely net-zero electricity generation, energy saving and green buildings, green transport, and waste reduction, will be accorded priority. The GTF welcomes applications from local public research institutions, R&D centres and local private companies to develop low-carbon and green technologies that cater for the needs of Hong Kong’s environment and market. The GTF Secretariat will hold a webinar on 19 January 2024, to introduce the application procedures and priority themes of the GTF. Details are available on the GTF website (www.gtf.gov.hk).
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/21/P2023122100225.htm?fontSize=1.
SMS Sender Registration Scheme to be launched on 28 December 2023 to assist in combating SMS scams
The Office of the Communications Authority (OFCA) announced on 20 December 2023 that the SMS Sender Registration Scheme will first be implemented in the telecommunications sector from 28 December 2023, with a view to helping members of the public verify the identities of SMS senders and beware of call and SMS scams.
Under the Scheme, all Registered Senders will use Registered SMS Sender IDs with the prefix “#” to send SMS messages to local subscribers of mobile services. The Scheme will first cover the telecommunications sector. Members of the public may visit the OFCA’s website (www.ofca.gov.hk/ssrs) to check the list of the first batch of telecommunications service providers participating in the Scheme (see Annex).
A spokesman for the OFCA said that the OFCA has always been committed to, from the perspective of telecommunications services, assisting the Hong Kong Police Force (HKPF) in combating fraudulent calls and SMS messages. Following the establishment of the working group with the HKPF and the telecommunications sector in early September 2022 to jointly study and implement a series of feasible technical measures, the launch of the Scheme will further help stop fraudsters from masquerading as telecommunications service providers in sending SMS messages to mobile service users.
“The Scheme aims at helping members of the public identify Registered SMS Senders to stop fraudsters from sending scam SMS messages masquerading as other companies or organisations. Taking the telecommunications sector which is the first batch of participants in the Scheme as an example, only those telecommunications service providers being Registered Senders under the Scheme will be able to send SMS messages using their Registered SMS Sender IDs with the prefix ‘#’,” the spokesman said.
The spokesman added that other SMS messages with sender IDs containing “#” but not sent by Registered Senders will be blocked by the telecommunications networks. Subscribers of mobile services are not required to apply for the service, install any mobile apps or change their handset settings. The Scheme is not applicable to SMS messages of which receiving parties are expected to reply to the senders via phone numbers.
The OFCA reminds that under all circumstances, members of the public should stay highly vigilant when receiving SMS messages from unknown senders, and must not disclose to unidentified senders any personal information, bank account numbers or credit card details, transfer money or access any hyperlink in the SMS messages, to avoid suffering any loss. Should there be any doubt, they should report it to the HKPF immediately.
The OFCA will closely monitor the implementation of the Scheme and will discuss with other sectors and government departments to encourage more sectors that use SMS to communicate with customers to participate in the Scheme, to further expand the Scheme and to assist law enforcement agencies in combating scam activities.
The OFCA will also continue to collaborate with the HKPF and the telecommunications sector to enhance education and publicity in a comprehensive manner to ensure that anti-fraud messages can be delivered to all members of the public to remind them to always stay vigilant upon receipt of calls and messages.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/20/P2023122000391.htm?fontSize=1.
Government announces details of new Capital Investment Entrant Scheme
The Government announced on 19 December 2023 the details of the new Capital Investment Entrant Scheme (CIES).
Announcing the details of the new CIES at a press briefing, the Secretary for Financial Services and the Treasury, Mr Christopher Hui, noted the 2023-24 Budget set out that a new CIES would be introduced with a view to further enriching the talent pool and attracting more new capital to Hong Kong.
Mr Hui said, “The Policy Statement on Developing Family Office Businesses in Hong Kong, issued by the Financial Services and the Treasury Bureau in March, identified the new CIES as one of the eight policy measures to promote the growth of family offices, with the aim of attracting asset owners to set up in Hong Kong and tap into the diverse investment opportunities in Hong Kong by deploying and managing their wealth.
“The new CIES would help strengthen the development of the asset and wealth management, financial and related professional service sectors in Hong Kong, and bring more business opportunities and high-quality job prospects to all segments of the industry’s service chain.”
The new CIES will accept applications from eligible persons aged 18 or above (including foreign nationals, Chinese nationals who have obtained permanent resident status in a foreign country, Macao Special Administrative Region residents and Chinese residents of Taiwan). An applicant must demonstrate that he/she has net assets of not less than HK$30 million to which he/she is absolutely beneficially entitled throughout the two years preceding the application. An applicant must make an investment of a minimum of HK$30 million in the permissible investment assets, including investing a minimum of HK$27 million in the permissible financial assets and non-residential real estate (at Annex), and placing HK$3 million into a new CIES Investment Portfolio. The Portfolio will be set up and managed by the Hong Kong Investment Corporation Limited to make investments in companies/projects with a Hong Kong nexus, with a view to supporting the development of innovation and technology industries and other strategic industries that are beneficial to the long-term development of Hong Kong’s economy.
A successful applicant may bring his/her dependants (including spouse and unmarried dependent children aged under 18 years) to Hong Kong. Permission to stay will normally be granted to the applicant and his/her dependants for not more than two years. Upon expiry of the two-year period, they may apply for an extension of stay for not more than three years, and may subsequently apply for further extensions of stay for not more than three years upon the expiry of each three-year period. They may, upon a period of continuous ordinary residence in Hong Kong of not less than seven years, apply to become Hong Kong permanent residents in accordance with the law. If an applicant is unable to fulfil the continuous ordinary residence requirement, while continuously satisfying the financial requirements under the new CIES for not less than seven years, he/she may apply for an unconditional stay in Hong Kong. If the application is approved, the applicant will be free to dispose of the invested assets.
As announced in “The Chief Executive’s 2023 Policy Address”, a mechanism will be introduced for suspension of payment of Buyer’s Stamp Duty and New Residential Stamp Duty for incoming talent’s acquisition of residential property in Hong Kong (Suspension Mechanism). The Government will make legislative amendments for the Suspension Mechanism to cover the successful applicants under the new CIES.
Under the new CIES, Invest Hong Kong will be responsible for assessing whether the applications fulfil the net asset and investment requirements, and the Immigration Department will be responsible for assessing the applications for visa/entry permits, extensions of stay, etc. The Government aims to officially launch the new CIES and invite applications in mid-2024.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/19/P2023121900385.htm?fontSize=1.
Public views sought on proposed amendments to Noise Control Ordinance on control over domestic renovation noise
The Environment Protection Department (EPD) released on 18 December 2023 a consultation paper on the proposed amendments to the Noise Control Ordinance (NCO) on control over noise from domestic renovations. The public consultation will last for two months until 17 February 2024. Members of the public are welcome to offer their views.
A spokesman for the EPD said that the public has been very concerned about issues arising from domestic renovation noise. Most residents live in multi-storey buildings that are densely built, and so noise nuisance from domestic renovations of various scales is almost inevitable. As stated in the 2022 Policy Address, the Government proposed to place control over domestic renovation noise. After consulting with the trade, two proposals of tightened legislative control over the use and operation time of percussive tools (see attachment) have been put forward to mitigate the noise impact of renovation works on nearby residents.
The consultation paper is available on the EPD website (www.epd.gov.hk/epd/english/environmentinhk/noise/pub_consult/home_renovation.html). Public views on the proposed amendments can be submitted to the EPD as detailed in the consultation document within the consultation period.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/18/P2023121500650.htm?fontSize=1.
Second Phase Opening-up of Sha Tau Kok starts from 1 January 2024
The Second Phase Opening-up of Sha Tau Kok will begin on 1 January 2024. Initially, up to 1 000 tourists per day will be allowed to visit all parts of Sha Tau Kok, except Chung Ying Street, after applying online for a Closed Area Permit (CAP), allowing more people to learn about the history, culture, and natural geological features of Sha Tau Kok and nearby outlying islands, and promoting cultural and eco-tourism.
The daily tourist quota includes 700 tour group visitors and 300 individual tourists. Travel agencies or tourists can log onto the Hong Kong Police Force Online Applications Platform (www.es.police.gov.hk) to apply for a free electronic Tourism CAP on a first-come, first-served basis. Hong Kong residents or visitors to Hong Kong can both apply and visit Sha Tau Kok from 7am to 9pm on the date they have applied for. The application process takes three working days. The quota for January is now open for application. Subsequently, applications will be open on the first day of each month for all the quotas in the following month. Tourists may also contact licensed travel agents directly to sign up for tours visiting Sha Tau Kok, and licensed travel agents will handle the relevant application procedures.
The Second Phase Opening-up of Sha Tau Kok features a number of new attractions, including the Chung Ying Street Garden, which is situated in front of the Chung Ying Street Checkpoint, where visitors will find a viewing deck overlooking Chung Ying Street and a replica of an old railway station in Hong Kong as well as a model actual-size locomotive. The Fish Lantern Square also displays scenes of the national intangible cultural heritage “Sha Tau Kok fish-lantern dance”, where visitors can immerse themselves in colourful fish lantern installations and feel the unique charm of traditional culture.
Other special attractions include the old Sha Tau Kok Fire Station, which still retains its former appearance, with the replica of a century-old fire-fighting hand cart being displayed from time to time; the mural paintings at Shun Ping Street depicting traditional cultural activities in Sha Tau Kok, and more, which are full of the unique history and culture of the district. Tourists can also go to the Sha Tau Kok Post Office to buy Sha Tau Kok specialty postcards and stamp them with the post office’s unique postal chops. They can also visit the longest pier in Hong Kong, Sha Tau Kok Pier, and the largest remaining Guangzhou-style arcade complex in Hong Kong, “San Lau Street”, as well as the statutory monument Hip Tin Temple, and more. Visitors can also relish Sha Tau Kok’s traditional or special cuisine, and learn about the different facets of Sha Tau Kok.
The Hong Kong Tourism Board has launched a thematic website (www.discoverhongkong.com/tc/explore/discover-sha-tau-kok.html) to introduce the “Top 10 attractions”, “Top 10 delicacies” and “Top 10 cultural attractions” of Sha Tau Kok to allow visitors and locals to explore its new offerings.
Individual tourists visiting Sha Tau Kok are required to take public transport to Sha Tau Kok. Access of private vehicles is not allowed. Tourists may take the following transport:
(1) Bus route Nos. 78S (express) or 78K at MTR Sheung Shui Station or Fanling Station;
(2) Minibus route No. 55K at MTR Sheung Shui Station and get off at the terminal; or
(3) Bus route No. 277A at MTR Lam Tin Station.
Some of the above bus routes only run at specific times. The Transport Department will issue traffic notices to announce details of public transport services. The bus company will also update its website for passengers to check the relevant information.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/18/P2023121500701.htm?fontSize=1.
Alliance of Hong Kong Youth Innovation and Entrepreneurial Bases in the Greater Bay Area officially launched
The Chief Secretary for Administration, Mr Chan Kwok-ki, officiated at the launching ceremony of the Alliance of Hong Kong Youth Innovation and Entrepreneurial Bases in the Greater Bay Area on 15 December 2023, witnessing the establishment of the Alliance together with representatives from Guangdong and Hong Kong. The Alliance will provide a one-stop information, publicity and exchange platform to support Hong Kong youth entrepreneurs in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
Other officiating guests from the Hong Kong Special Administrative Region (SAR) included the Secretary for Home and Youth Affairs, Miss Alice Mak, and the Permanent Secretary for Home and Youth Affairs, Ms Shirley Lam; and officiating guests from Guangdong included the Director-General of the Hong Kong and Macao Affairs Office of the People’s Government of Guangdong Province, Ms Li Huanchun, and the Director-General of the Human Resources and Social Security Department of Guangdong Province, Mr Du Minqi.
Speaking at the launching ceremony, Mr Chan said, “The Hong Kong SAR Government attaches great importance to youth development. We strive to build a stage for young people to display their full talents and realise their dreams, and leverage the Greater Bay Area as an entry point to promote young people to actively integrate into the overall development of the country. To further pull together the efforts of authorities and community sectors on the Mainland and Hong Kong to support Hong Kong youth entrepreneurs in pursuing and realising their dreams, the HKSAR Government proposed the establishment of the Alliance of Hong Kong Youth Innovation and Entrepreneurial Bases in the GBA.”
The establishment of the Alliance is one of the key tasks under the Guangdong-Hong Kong task force on youth employment, entrepreneurship and internship. The Home and Youth Affairs Bureau (HYAB), the Hong Kong and Macao Affairs Office of the People’s Government of Guangdong Province and the Human Resources and Social Security Department of Guangdong Province are the leading parties of the Alliance. Nearly 60 representative organisations from various sectors in Hong Kong and other cities of the GBA also joined the Alliance, including government and public organisations, innovation and entrepreneurial bases, non-governmental organisations and social organisations, post-secondary institutions and scientific research institutes, professional organisations and venture funds.
Mr Chan added, “The Alliance will leverage the resources and networks of the member organisations to achieve synergy and offer comprehensive support to youth entrepreneurs.”
The key tasks of the Alliance include -
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organising diversified activities to provide youth entrepreneurs with more comprehensive and practical information and support services, and to facilitate them in expanding their social, commercial and investor network and enhance their competitiveness;
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conveying the needs of Hong Kong youth entrepreneurs to relevant authorities in relation to the business environment and policies in different cities and areas of the GBA;
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fostering the exchange and co-operation between relevant stakeholders, so as to jointly promote Hong Kong youth entrepreneurship in the GBA; and
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disseminating information about the support to Hong Kong youth entrepreneurship in the GBA as well as activities organised by member organisations through the Alliance’s designated webpage.
Two seminars were held right after the launching ceremony. Representatives from members of the Alliance shared how they support youth entrepreneurs, and four Hong Kong youth start-up teams subsidised by the HYAB’s Funding Scheme for Youth Entrepreneurship in the GBA shared their experience in pursuing entrepreneurship in the GBA.
Young people who have already started or are interested in starting their businesses can visit the designated webpage of the Alliance (www.weventure.gov.hk/en/gba_alliance/) to understand more.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/15/P2023121500690.htm?fontSize=1.
People’s Bank of China to issue Renminbi Bills through Central Moneymarkets Unit of the HKMA
The People’s Bank of China (PBOC) will issue Renminbi Bills through the Central Moneymarkets Unit of the HKMA. Please find attached the tender notice and the tender information memorandum of the Renminbi Bills to be issued by the PBOC. Please also find attached the tender-related information provided by the Issuing and Lodging Agent through the HKMA.
Annex 1 (Tender notice)
Annex 2 (Tender information memorandum)
Annex 3 (Tender-related informaion)
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/14/P2023121300609.htm?fontSize=1.
Facilitation measure on “Standard Contract for Cross-boundary Flow of Personal Information Within the Guangdong-Hong Kong-Macao Greater Bay Area (Mainland, Hong Kong)” and its early and pilot implementation arrangements
The Innovation, Technology and Industry Bureau (ITIB) and the Cyberspace Administration of China (CAC) announced on 13 December 2023 the facilitation measure on “Standard Contract for the Cross-boundary Flow of Personal Information Within the Guangdong-Hong Kong-Macao Greater Bay Area (Mainland, Hong Kong)” (the GBA Standard Contract) and its early and pilot implementation, with a view to facilitating and streamlining the arrangements on cross-boundary flow of personal information from the Mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to Hong Kong.
Under the co-operation framework of the “Memorandum of Understanding on Facilitating Cross-boundary Data Flow Within the Guangdong-Hong Kong-Macao Greater Bay Area” signed between the ITIB and the CAC in June 2023, the GBA Standard Contract is the first facilitation measure formulated to foster the cross-boundary flow of personal information within the GBA in a safe and orderly manner. It allows individuals and organisations in the Mainland cities within the GBA and Hong Kong to enter into a standard contract adopting a standardised template on a voluntary basis, providing for the responsibilities and obligations of both contracting parties in protecting personal information.
Under the GBA Standard Contract, the compliance requirements for the cross-boundary flow of Mainland personal information among nine Mainland cities within the GBA (i.e. Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing in Guangdong Province) and Hong Kong will be streamlined. The GBA Standard Contract will also lift the restriction on the volume of cross-boundary flow of personal data that a personal information processor can transfer under the Mainland’s framework on safe management of cross-boundary data flow, and simplify the relevant assessment contents in applicable personal information protection impact assessment.
The Office of the Government Chief Information Officer (OGCIO) and the Cyberspace Administration of Guangdong Province will jointly take forward the orderly implementation of the GBA Standard Contract, which will benefit the public and businesses of different sectors. The OGCIO will launch the “early and pilot implementation” arrangement of the GBA Standard Contract in December 2023, with the first phase inviting openly for participation from the banking, credit referencing and healthcare sectors which have a strong demand for cross-boundary services. The Hong Kong Special Administrative Region Government will review the “early and pilot implementation” arrangement in due course, with a view to further extending the facilitation measure to other sectors.
A spokesman for the ITIB said, “We would like to express heartfelt gratitude to the CAC for its unfailing support in facilitating the cross-boundary flow of information within the GBA in a safe and orderly manner. With the implementation of the GBA Standard Contract, the compliance costs of cross-boundary personal data flow for enterprises will be greatly reduced, thereby facilitating the provision of relevant cross-boundary services in the GBA and bringing convenience to the public and businesses. The GBA Standard Contract also promotes the development of the GBA’s digital economy and helps Hong Kong better integrate into the national development.”
“The GBA Standard Contract is an administrative measure. It does not affect the supervisory and regulatory roles of the Office of the Privacy Commissioner for Personal Data in ensuring compliances with the Personal Data (Privacy) Ordinance (PDPO). Meanwhile, the processing and export of personal data from Hong Kong will be conducted on a voluntary basis and continue to be regulated in accordance with the PDPO of Hong Kong,” the spokesman continued.
For details of the facilitation measure and the “early and pilot implementation” arrangement of the GBA Standard Contract, please refer to the OGCIO’s thematic website (www.ogcio.gov.hk/en/our_work/business/cross-boundary_data_flow/index.html).
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/13/P2023121300134.htm?fontSize=1.
Government promulgates Hong Kong Major Transport Infrastructure Development Blueprint
The Government promulgated the Hong Kong Major Transport Infrastructure Development Blueprint on 12 December 2023 to formulate a planning framework for the city’s future transport infrastructure development and outline a forward-looking vision for strategic railway and major road networks, with a view to meeting Hong Kong’s long-term transport and logistics demand up to 2046 and beyond.
The Secretary for Transport and Logistics, Mr Lam Sai-hung, said, “The Government’s vision is to build a livable, competitive and sustainable Hong Kong through transport infrastructure-driven developments by adopting the planning principles of ‘infrastructure-led’ and ‘capacity-creating’. The Blueprint aims to ‘Drive Development’, ‘Strengthen Connection’ and ‘Improve Efficiency’ in order to cater for the public’s and visitors’ commuting demands as well as the city’s development needs. The Blueprint also promotes cross-boundary integration with the Mainland, particularly with other Guangdong-Hong Kong-Macao Greater Bay Area cities and linking up with the world.”
In 2020, the Government commenced the Strategic Studies on Railways and Major Roads beyond 2030 to conduct a comprehensive and objective analysis of the supply and demand of major transport infrastructure in Hong Kong. The Government has also held public forums and consulted various stakeholders. With new proposals recommended in addition to projects that are currently under planning, design and construction, the Blueprint has been formulated by organising and consolidating the Study’s findings.
“Transport infrastructure projects involve huge public resources and have significant socio-economic impacts. We are grateful for the invaluable opinions provided by different sectors of the community throughout the Study. These insights have allowed us to tap into the collective wisdom and continuously improve the transport infrastructure network of Hong Kong. In progressively taking forward the relevant transport infrastructure projects, we will continue to actively engage various sectors of the community and promote the application and adoption of advanced technology, with a view to enabling the public to enjoy the convenience brought about by a more interconnected railway system and road network as early as possible,” Mr Lam said.
The Blueprint has been uploaded to the website of the Transport and Logistics Bureau (www.tlb.gov.hk/eng/index.html).
For relevant press release, please visit https://www.info.gov.hk/gia/general/202312/12/P2023121200392.htm?fontSize=1.
Topical Issues
Support Measures relating to Liquidity
In view of the cash-flow pressure of SMEs, SUCCESS has compiled a summary of support measures relating to liquidity.
More Details
SME ReachOut
"SME ReachOut", a dedicated service team operated by HKPC, has commenced operation since 1 January 2020 to enhance SMEs’ understanding of the Government’s funding schemes, with a view to encouraging better utilisation of the support provided by the Government. The team would help SMEs identify funding schemes that suit their needs, and answer questions relating to applications.
The Government has allocated $100 million to enhance the services of "SME ReachOut" in the next five years. The enhanced services have rolled out in October 2023, including arranging visits to more chambers of commerce, commercial and industrial buildings and co-working spaces, and increasing the publicity in social media so as to step up the promotion of government funding schemes. At the same time, more one-on-one consultation sessions will be provided to assist SMEs in applying for government funding and building their capacities, and enhancing their competitiveness through leveraging new technologies.
For further information or enquiries on “SME ReachOut”, please contact “SME ReachOut” Hotline / WhatsApp (Text Message Only) at 2788 6868 or email by sme_reachout@hkpc.org or visit https://www.hkpc.org/en/support-resource/sme-one/sme-reachout.
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.
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.
Business News
GDETO Newsletter
The latest issue of the Hong Kong Economic and Trade Office in Guangdong (GDETO) Newsletter has been published.
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Commercial Information Circulars (CICs) of the Mainland
The TID issued a number of Commercial Information Circulars (CICs) on the Mainland's trade and economic rules and regulations. The latest CICs have been published.
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