SUCCESS
E-newsletter
16 October 2024
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The Support and Consultation Centre for SMEs (SUCCESS) run by the Trade and Industry Department (TID) of the Government of the Hong Kong Special Administrative Region (the HKSARG) provides small and medium enterprises (SMEs) with free business information and consultation services.
Our website: https://www.success.tid.gov.hk/en_landing.html
Our email: success@tid.gov.hk
Our customer hotline:(852)2398 5133
(Service hours of hotline and counters: Monday to Friday 8:45 a.m.-12:30 p.m. & 1:30 p.m.-5:45 p.m., other than public holidays)
More Details
"Four-in-One" Integrated Services of SME Centres
To strengthen support for SMEs and to raise SMEs' awareness of the various funding schemes and support services, the TID consolidated the services of the existing four SME centres, namely, the "SUCCESS" under the TID, the "SME Centre" under the Hong Kong Trade Development Council (HKTDC), the "SME One" under the Hong Kong Productivity Council (HKPC) and the "TecONE" under the Hong Kong Science and Technology Parks Corporation (HKSTP), in October 2019 to provide one-stop "Four-in-One" integrated services for SMEs. Enterprises can obtain business information, funding schemes information and advisory services, etc. at any of the centres. In addition, a web portal called "SME Link" is also established for SMEs to access information and support services provided by the four SME centres and government departments from a single online platform.
The Government provides over 70 funding schemes with different funding scopes, amounts and requirements to promote and support the development of enterprises and industries in Hong Kong. The "Government Funding Schemes" web page of the SME Link features information on these 70+ funding schemes, including overview and useful hyperlinks. The web page's search tool supports multiple search filters to facilitate enterprises identifying suitable funding schemes.
The "Events & Activities" of the SME Link facilitates enterprises to obtain information on activities organised by the four SME centres and various government departments, including seminars, workshops, exhibitions, conferences, training courses, etc., from a single platform, and also provides relevant links to facilitate registration.
What's New

Chief Executive to deliver Policy Address to LegCo
The Legislative Council (LegCo) will hold a meeting on 16 October 2024 at 11am in the Chamber of the LegCo Complex. During the meeting, the Chief Executive will deliver the Policy Address.
The agenda of the above meeting can be obtained via the LegCo Website (www.legco.gov.hk). Members of the public can watch or listen to the meeting via the "Webcast" system on the LegCo Website. To observe the proceedings of the meeting at the LegCo Complex, members of the public may call 3919 3399 during office hours to reserve seats.
"The Chief Executive's 2024 Policy Address" available to public on 16 October 2024
The Chief Executive, Mr John Lee, will release "The Chief Executive's 2024 Policy Address" on 16 October 2024.
The full text of the Policy Address will be released at www.policyaddress.gov.hk after the Chief Executive has completed his speech.
Copies of the Policy Address and other related publications will be available for public collection from the time the Chief Executive has completed his speech at the 20 Home Affairs Enquiry Centres (HAECs) of the Home Affairs Department (HAD). Please browse the HAD website (www.had.gov.hk/en/public_services/public_enquiry_services/ctec.htm) for the opening hours of the HAECs.
Leaflets containing the highlights of the Policy Address will also be available at multiple locations (please see: https://www.info.gov.hk/gia/general/202410/14/P2024101400326.htm).
The public can watch the live broadcast of the delivery of the speech by the Chief Executive in the Legislative Council and the press conference with a simple click into the Policy Address webpage (www.policyaddress.gov.hk).
They can also access "The Chief Executive's 2024 Policy Address" webpage through the e-Stations located at the 20 HAECs in the 18 Districts.
"Four-in-One" Seminar Series
The four SME centres co-organise "Four-in-One" seminar series regularly. Themes of this seminar series in the second half of 2024 are "E-commerce", "Environmental, Social and Governance (ESG)" and "Branding". An upcoming webinar under this series is listed below. Interested persons are welcome to register at the link shown therein. Admission is Free.
E-commerce Trends for 2025 and Introduction to the “BUD Fund” (Webinar)
(This webinar will be live-streamed on 24 October 2024)
This webinar is held by the "TecOne" of the HKSTP. In this webinar, a representative of the Hong Kong Internet & eCommerce Association (HKIECA) will introduce e-commerce trends for 2025. A representative from the HKPC, implementation partner of the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund), will give an overview of the BUD Fund, including "E-commerce Easy", with a view to assisting SMEs in making good use of government funding to develop e-commerce businesses. (This webinar will be conducted in Cantonese.)
More Details and Registration (in Chinese only)
SUCCESS-supported Activities
I. Webinar on Competition Ordinance
(This webinar will be live-streamed on 23 October 2024)
This webinar is organised by the Competition Commission. SUCCESS is one of the supporting organisations. In this webinar, representatives from the Competition Commission will provide an overview of the Competition Ordinance, dos and don’ts under the Ordinance, red flags of anti-competitive practices and Leniency and Cooperation Policies, as well as competition law case studies. (This webinar will be conducted in Cantonese.)
More Details
II. Implications of Representative Recent Hong Kong Court Cases to Cross-Border Workforce (Seminar)
(This seminar will be held at the CMA Building on 25 October 2024)
This seminar is organised by the Chinese Manufacturers’ Association of Hong Kong (CMA). SUCCESS is one of the supporting organisations. This seminar will introduce representative tax cases, and explain how to formulate talent mobility and remunerations policies from a practical perspective, with a view to assisting professionals in finance, human resources, taxation and legal fields in better managing salaries tax issues involving cross-border hiring of employees. (This seminar will be conducted in Cantonese.)
More Details (in Chinese only)
III. Well-Being at Work with Mindfulness (Online Course)
(This course will be live-streamed on 29 October 2024)
This course is offered by the HKPC. SUCCESS is one of the supporting organisations. In this online course, a coach will give guidance to participants to incorporate research-backed mindfulness into workday and leadership in order to reduce stress, increase focus, and enhance personal well-being. (This course will be conducted in Cantonese.)
More Details
IV. Personal Data Protection and Legal Liability in the Digital Era (Online Course)
(This course will be live-streamed on 4 November 2024)
This course is offered by the HKPC. SUCCESS is one of the supporting organisations. This online course will explore personal data protection and legal liability in the digital era. The course will cover: the definition of personal data, the relationship between personal data and artificial intelligence (AI) data input, big data, QR code, etc., as well as the principles and model framework for protecting personal data. (This course will be conducted in Cantonese.)
More Details (in Chinese only)
V. How to utilise AI for transform in business operations? (Online Course)
(This course will be live-streamed on 18 November 2024)
This course is offered by the HKPC. SUCCESS is one of the supporting organisations. This online course will explore the current situation and trends of modern AI development, how Baidu uses modern AI to bring innovative solutions and transformation to enterprises, and strategies for enterprises to utilise AI for transform in business operations. (This course will be conducted in Cantonese.)
More Details (in Chinese only)
Intellectual Property Department: IP Training Programme “IP301 Profits Tax Implications and Tax Planning on IP”
(This course will be live-streamed and held at the VTC Tower, Wan Chai on 31 October 2024)
This intellectual property (IP) course offered by the Intellectual Property Department (IPD) aims to equip participants with a comprehensive introduction on the Hong Kong profits tax implications and planning strategies in relation to IP. It focuses on profits tax regime, “Patent Box” incentive and “Original Grant Patent” system in Hong Kong. (The medium of instruction will be Cantonese, supplemented with English terms.)
Interested participants may first enroll in the “IP Manager Scheme PLUS” for free by filling out an online form to get priority in course registration. Registration fee for the course is waived for members of the Scheme. Participants will receive a certificate upon completion of the course.
More Details
Registration
Supportive Family-friendly Good Employer Sharing Video of Good Employer Charter 2024 of the Labour Department
In order to enhance enterprises’ knowledge of family-friendly employment policy and further their understanding in the implementation of relevant measures and related advantages, the Labour Department (LD) invited four Signatories of the Good Employer Charter 2024 to share their successful cases in promoting family-friendly employment culture and produced the “Supportive Family-friendly Good Employer Sharing Video of Good Employer Charter 2024”.
To watch the video, please visit the webpage “Family-friendly Employment Practices” > “Publications & Media” of the Good Employer Charter 2024 website (www.gec.labour.gov.hk). You are invited to share the message of the above video and join hands to promote good human resource management and family-friendly employment policy among enterprises.
Lands Department extends coverage of 3D Digital Maps
The Lands Department (LandsD) on 15 October 2024 launched a 3D Visualisation Map of Kowloon West and New Territories Northwest, and a 3D Indoor Map of Kowloon West.
The 3D Visualisation Map of Kowloon West and New Territories Northwest covers around 63 600 buildings and about 770 infrastructure facilities, including flyovers, footbridges and subways. The 3D Indoor Map of Kowloon West covers around 70 buildings, including government and private buildings and community facilities, and provides information on floors, units and points-of-interest for promoting innovative indoor data applications, such as location-based services, tourism and indoor navigation.
Moreover, the coverage of the "Streetscape 360" function of the 3D Visualisation Map, which offers 360-degree street-level panoramic images, has been extended from Kowloon East and Kowloon Central to Kowloon West, Lantau and New Territories Northwest.
The datasets of the abovementioned 3D Digital Maps, relevant Application Programming Interface and sample codes are available on the Common Spatial Data Infrastructure Portal (portal.csdi.gov.hk) and the online application platform "Open3Dhk" (3d.map.gov.hk) for free download by the public to facilitate the development of web services and smart applications by the innovation and technology sector and academia.
To promote smart city development, the LandsD will continue to develop and release 3D Digital Maps for other districts.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/15/P2024101500139.htm.
LD to hold occupational health public talks
The LD will hold a public talk entitled "Occupational Health in Catering Industry" on 23 October 2024 (Wednesday). The talk will introduce the occupational health hazards and their preventive measures for employees working in catering industry to enhance their awareness of occupational health. Demonstration and practice of workplace exercise are included.
The talk will be given by the LD's occupational health nurse at 3.30pm at the Lecture Hall of the Hong Kong Space Museum, 10 Salisbury Road, Tsim Sha Tsui.
The LD will hold another talk entitled "Occupational Health of Office Workers Series (I) Health Hints on the Use of Computer" on 28 October 2024 (Monday). The talk will briefly introduce the Occupational Safety and Health (Display Screen Equipment) Regulation, and elaborate on the occupational health hazards and preventive measures associated with prolonged use of computers, to enhance employees' occupational health awareness. Demonstrations and practice of workplace exercises will also be included.
The talk will be given by the occupational hygienist and occupational health nurse at 6.30pm at the Lecture Theatre of the Hong Kong Central Library, 66 Causeway Road, Causeway Bay.
Both talks will be given in Cantonese. Admission is free but pre-registration is required. Interested participants can register online (www.oshsreg.gov.hk). For enquiries, please call 2852 4040.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/14/P2024101000317.htm.
Banking (Capital) (Amendment) Rules 2023 (Commencement) Notice 2024 gazetted
The Banking (Capital) (Amendment) Rules 2023 (Commencement) Notice 2024 (Commencement Notice) was gazetted on 10 October 2024 to appoint 1 January 2025, as the commencement date for Parts 3 and 5 of the Banking (Capital) (Amendment) Rules 2023 (BCAR).
The BCAR was approved by negative vetting of the LegCo in February 2024. Its main purpose is to incorporate the Basel III final reform package promulgated by the Basel Committee on Banking Supervision (BCBS) into local legislation. Part 3 of the BCAR provides for amendments in relation to credit risk, the output floor, operational risk and sovereign concentration risk. Part 5 of the BCAR deals with amendments in relation to market risk and credit valuation adjustment (CVA) risk.
A Government spokesperson said, "The full implementation of Basel III standards will ensure the resilience of our banking system to financial shocks, and reinforce Hong Kong's status as an international financial centre."
A Hong Kong Monetary Authority (HKMA) spokesperson said, "The HKMA has given due consideration to the views of the banking industry in determining the local implementation timeline for the Basel III final reform package. Its full adoption will ensure that the regulatory framework in Hong Kong remains aligned with international standards agreed by the BCBS."
The Commencement Notice will be tabled before the LegCo on 16 October 2024 for negative vetting.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/10/P2024101000354.htm.
Commencement notice for Land (Compulsory Sale for Redevelopment) (Amendment) Ordinance 2024 gazetted
The Government published in the Gazette on 10 October 2024 the Land (Compulsory Sale for Redevelopment) (Amendment) Ordinance 2024 (Commencement) Notice (the Commencement Notice), which specifies that the Land (Compulsory Sale for Redevelopment) (Amendment) Ordinance 2024 (the Amendment Ordinance) will come into operation on 6 December 2024. The Commencement Notice will be tabled at the LegCo for negative vetting on 16 October 2024.
To promote private companies to redevelop aged and dilapidated private buildings in Hong Kong, the LegCo passed the Amendment Ordinance on 18 July 2024, to update and streamline the statutory compulsory sale regime under the Land (Compulsory Sale for Redevelopment) Ordinance (Cap. 545) (LCSRO) in four directions, namely (1) lowering the compulsory sale application thresholds; (2) facilitating multiple adjoining-lot compulsory sale applications; (3) streamlining the legal process of compulsory sale regime; and (4) enhancing support for affected minority owners.
A spokesperson for the Development Bureau (DEVB) said, "The Amendment Ordinance aims to expedite the consolidation of private property interests so as to facilitate the redevelopment of old and dilapidated buildings, thereby tackling the safety risk of those buildings and improving people's livelihood. At the same time, legal protection of the interests of minority owners has been enhanced."
In addition to the statutory safeguards, the Dedicated Office of Support Services for Minority Owners under Compulsory Sale (DOSS) set up under the DEVB and the Support Service Centre for Minority Owners under Compulsory Sale (SMOCS), a wholly owned subsidiary set up by the Urban Renewal Authority, both came into operation on 27 August 2024. The SMOCS, which is accountable to the DEVB and supervised by the DOSS, provides one-stop enhanced support services to minority owners at various stages of the compulsory sale application process, so as to help them understand their statutory rights and obtain professional advice. Public education activities and publicity programmes are being rolled out to enhance public understanding of the LCSRO and the services of the SMOCS.
To help different stakeholders (in particular minority owners) to better understand the requirements of the law, as well as the content and practical application of the provisions of the amended LCSRO, the DEVB will soon publish a guidance note to explain the main provisions of the amended LCSRO in plain language with illustrative examples to serve as a practical reference for the industry, professionals and the general public.
The DEVB will also in due course seek the LegCo's approval to provide additional manpower resources to the Lands Tribunal to cope with the increased workload arising from the implementation of the Amendment Ordinance, and to set up a loan guarantee scheme for the Government to provide guarantee to assist eligible minority owners in obtaining bank loans to address their cash flow problems arising from the engagement of legal and other professionals to deal with compulsory sale litigation.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/10/P2024101000180.htm.
Preservatives in Food (Amendment) Regulation 2024 gazetted
The Government gazetted on 10 October 2024 the Preservatives in Food (Amendment) Regulation 2024 (Amendment Regulation) to update the food safety standards in relation to preservatives and antioxidants in food.
The objective of the Amendment Regulation is to keep local food safety standards on par with international standards, thereby enhancing consumer protection and facilitating the food trade. The Amendment Regulation has kept the standards of the Codex Alimentarius Commission (Codex) as the backbone, supplemented with those adopted by the Mainland and by Hong Kong's other major food-trading partners.
A Government spokesman said, "A four-month public consultation was conducted from 29 May to 30 September last year (2023), to collect views on the proposed amendments to the Preservatives in Food Regulation (Cap. 132BD). Respondents and stakeholders generally welcomed and supported the proposed amendments. Taking into account the comments received during the public consultation, we have formulated the updated proposals, as reflected in the Amendment Regulation."
The Amendment Regulation updates the definitions of "preservative" and "antioxidant" with reference to the corresponding definitions adopted by Codex. The list of permitted preservatives/antioxidants has also been updated, which comprises 58 preservatives/antioxidants after the legislative amendments. The number of "additive-food" pairs with specified maximum permitted levels has increased from around 900 to around 2 000.
"We consider that the Amendment Regulation should be implemented as soon as possible. However, we acknowledge the importance of providing sufficient time for the stakeholders to adjust to the new food safety standards, and for the local testing laboratories to establish the capability for performing relevant tests. We have also taken into consideration the longer shelf life of processed and pre-packaged foods that may contain preservatives or antioxidants. On balance, we propose a transitional period of 24 months, during which it would be legal for any single food item to comply wholly with the requirements of either the existing or the amended Cap. 132BD," the spokesman added.
The Amendment Regulation will be tabled at the LegCo on 16 October 2024 for negative vetting.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/10/P2024100900381.htm.
HKSAR Government and Ministry of Commerce sign Second Agreement Concerning Amendment to CEPA Agreement on Trade in Services
The Chief Executive, Mr John Lee, witnessed the signing of the Second Agreement Concerning Amendment to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services (Amendment Agreement II) by the Financial Secretary, Mr Paul Chan, and Deputy China International Trade Representative of the Ministry of Commerce Ms Li Yongjie on 9 October 2024.
"I would like to express my sincere gratitude to the Central Government for its care and support for the Hong Kong Special Administrative Region (HKSAR). I also thank the Ministry of Commerce and relevant authorities for actively working towards the HKSAR Government's proposal of further opening up the Mainland market to Hong Kong in trade in services. The Amendment Agreement II introduces new liberalisation measures across different service sectors where Hong Kong enjoys competitive advantages, making it easier for Hong Kong service suppliers to establish enterprises and develop business on the Mainland, enabling more Hong Kong professionals to obtain qualifications to practise on the Mainland, allowing more of Hong Kong's quality services to be provided to the Mainland market, and contributing to and serving the country's development. The HKSAR Government will continue to encourage different sectors of the community to leverage the unique advantages of 'one country, two systems' and join hands with their counterparts on the Mainland to promote the competitiveness of the professional services sector, in order to inject new impetus to economic development and achieve high-quality development," said Mr Lee.
The HKSAR Government and the Ministry of Commerce signed the Agreement on Trade in Services (Services Agreement) under the framework of CEPA in November 2015 to basically achieve liberalisation of trade in services between the Mainland and Hong Kong. The two sides signed an agreement in November 2019 to amend the Services Agreement and add new liberalisation measures that have been implemented since June 2020. To further enhance liberalisation and facilitate trade in services in response to the aspirations of the Hong Kong business community for greater participation in the development of the Mainland market, the two sides agreed to make further amendments to the Services Agreement and signed the new agreement on 9 October 2024.
The Amendment Agreement II introduces new liberalisation measures across several service sectors where Hong Kong enjoys competitive advantages, such as financial services, construction and related engineering services, testing and certification, telecommunications, motion pictures, television and tourism services. The liberalisation measures take various forms, including removing or relaxing restrictions on equity shareholding and business scope in the establishment of enterprises; relaxing qualification requirements for Hong Kong professionals providing services; and easing restrictions on Hong Kong's exports of services to the Mainland market. Most of the liberalisation measures apply to the whole Mainland, while some of them are designated for pilot implementation in the nine Pearl River Delta municipalities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Examples are as follows:
(1) Construction and related engineering services: To allow Hong Kong general practice surveying enterprises to provide professional services in Guangdong Province through filing of records; and to allow Hong Kong engineering construction consultant enterprises that have completed filing of records to bid for consultancy services projects in joint venture in compliance with the laws in the nine Pearl River Delta municipalities in the GBA;
(2) Motion pictures: To remove the restriction on investment in enterprises engaging in film production by Hong Kong service suppliers; and to allow enterprises established by Hong Kong service suppliers and approved by the relevant Mainland authorities to operate distribution of imported buy-out Hong Kong motion pictures;
(3) Television: To remove the quantitative restriction on Hong Kong people participating as principal creative personnel in online television dramas; and to allow imported dramas produced in Hong Kong to be broadcast during prime time in television stations on the Mainland after obtaining approval from the National Radio and Television Administration;
(4) Tourism services: To optimise the implementation of the 144-hour visa-exemption policy for foreign group tours entering Guangdong from Hong Kong through increasing the number of inbound control points and expanding the stay areas to the whole of Guangdong Province, and to provide facilitation for Mainland travel agents when receiving group tours at West Kowloon Station of the High Speed Rail; and to support cruise companies to arrange international cruise itineraries involving port-of-call in the Mainland cruise ports in accordance with the laws. In respect of Mainland visitors participating in such cruise itineraries, they can travel to Hong Kong in transit to join all sorts of cruise itineraries, by presenting their passports and confirmation documents of the relevant cruise itineraries; and
(5) Financial services: To remove the asset requirement of not less than US$2 billion as at the end of the most recent year for Hong Kong financial institutions investing in shares of insurance companies; to remove the restriction prohibiting foreign bank branches established by Hong Kong service suppliers from conducting bank cards services; to consider extending the scope of eligible products under the mutual market access programme by including REITs (Real Estate Investment Trusts); to continuously promote and enhance the Cross-boundary Wealth Management Connect Pilot Scheme and the Mainland-Hong Kong Mutual Recognition of Funds scheme; and to continuously promote the cross listing arrangement of the Mainland and Hong Kong ETF (open-ended index-tracking exchange-traded funds) as well as enhance Southbound Trading and Northbound Trading under Bond Connect.
In addition, the Amendment Agreement II brings institutional innovation and collaboration enhancement, including:
(1) Addition of "allowing Hong Kong-invested enterprises to adopt Hong Kong law" and "allowing Hong Kong-invested enterprises to choose for arbitration to be seated in Hong Kong" as facilitation measures for Hong Kong investors, supporting Hong Kong-invested enterprises registered in the pilot municipalities of the GBA to adopt Hong Kong law or Macao law as the applicable law in their contracts; as well as supporting Hong Kong-invested enterprises registered in the nine Pearl River Delta municipalities in the GBA to choose Hong Kong or Macao as the seat of arbitration. The measures provide flexibility and convenience for Hong Kong enterprises, facilitating their investment and business development on the Mainland;
(2) Addition of commitments regarding domestic regulation to ensure transparency, predictability and efficiency of regulations on trade in services, so as to align with high-standard international economic and trade rules, cutting red tape and lowering trade costs when enterprises supply their services in a market to facilitate trade in services; and
(3) Removal of the period requirement on Hong Kong service suppliers to engage in substantive business operations in Hong Kong for three years in most service sectors, allowing Hong Kong start-ups to enjoy the preferential treatment under CEPA in a shorter time and attracting enterprises and talent from around the world to establish a presence in Hong Kong and explore the Mainland market, thus increasing local employment, promoting Hong Kong's economic development and giving full play to Hong Kong's roles as a "super connector" and "super value-adder".
The Amendment Agreement II will be implemented on 1 March 2025. Details and the latest information on CEPA are available on the Trade and Industry Department website at www.tid.gov.hk/english/cepa/index.html.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/09/P2024100900266.htm. For remarks by the Financial Secretary at media session after Signing Ceremony of Amendment Agreement II, please visit https://www.info.gov.hk/gia/general/202410/09/P2024100900541.htm.
HKMA and HKAB support ICAC's launching of Banking Industry Integrity Charter
The HKMA and the Hong Kong Association of Banks (HKAB) fully support the Banking Industry Integrity Charter (Integrity Charter) introduced by the Independent Commission Against Corruption (ICAC). The two organisations co-hosted on 9 October 2024 a launching ceremony for the Integrity Charter together with the ICAC. Senior management from 30 banks, including those from major retail banks and private wealth management banks in Hong Kong, attended the ceremony. Representatives of the Chinese Banking Association of Hong Kong and the Private Wealth Management Association also attended the event (see Annex).
The HKMA has long been encouraging banks to further their work in integrity building. The ICAC launched the Integrity Charter to create a platform for communication through public-private partnership, helping banks to implement effective integrity management and anti-corruption measures. The ICAC will provide anti-corruption recommendations tailored for the banking industry, share anti-corruption cases with the industry, and arrange regular thematic training for banks to further support the industry's efforts in integrity building and promoting honest and responsible business practices. Banks participating in the Integrity Charter will commit to further strengthening their internal anti-corruption capabilities and promoting an integrity culture among their business partners.
The Chief Executive of the HKMA, Mr Eddie Yue; the Commissioner of the ICAC, Mr Woo Ying-ming; and the Chairman of the Hong Kong Association of Banks, Ms Luanne Lim, officiated at the ceremony to mark the launch of the Integrity Charter. During the event, the ICAC also showcased for the first time the logo specially designed for the Integrity Charter.
In his welcome remarks, Mr Yue said, "Customer trust is an important pillar for the sustainable development of the banking industry. The professionalism and ethical conduct of banks and their frontline staff are key to building customer trust. The launch of the Integrity Charter by the ICAC is conducive to maintaining the stability of the Hong Kong banking system, and also helps to consolidate and enhance Hong Kong's status as an international financial centre. It provides strong support for the Hong Kong banking industry to develop new markets, including the Middle East and Southeast Asia."
Mr Woo said in his welcome remarks, "Hong Kong is widely recognised as one of the most corruption-free places in the world and its financial sector is vibrant and thriving. The Integrity Charter combines the two advantages of Hong Kong - integrity and finance - underlining the banking industry's commitment to integrity and enhancing its anti-corruption capabilities, to maintain and develop Hong Kong's position as an international financial centre."
Ms Lim said, "The Integrity Charter will help the public better understand banks' determination to maintain a clean society and combat corruption collectively." She encouraged members of the association to participate in the Integrity Charter.
For further information about the Integrity Charter, please visit the webpage of the ICAC's Corruption Prevention Advisory Service at cpas.icac.hk/EN/Info/TP_Library?cate_id=10046.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/09/P2024100900359.htm.
Miscellaneous amendments to marine legislation gazetted
The Government gazetted on 10 October 2024 a proposal to amend and update marine legislation by enacting eight pieces of amendment regulations/orders/notices, including the Pilotage Ordinance (Amendment of Schedules 3 and 4) Notice 2024; the Dangerous Goods (Shipping) Regulation 2012 (Amendment) Regulation 2024; the Shipping and Port Control (Amendment) Regulation 2024; the Shipping and Port Control (Ferry Terminals) (Amendment) Regulation 2024; the Shipping and Port Control (Ports) (Amendment) Order 2024; the Merchant Shipping (Local Vessels) (General) (Amendment) Regulation 2024; the Merchant Shipping (Local Vessels) (Safety and Survey) (Amendment) Regulation 2024; and the Merchant Shipping (Fees) (Amendment) Regulation 2024.
The proposed amendments aim to update and unify the types and formats of the geodetic reference datum used in marine legislation. It also makes miscellaneous amendments to various pieces of marine legislation in relation to designating new special anchorages, updating the radio channels and sectors under the vessel traffic services, updating the definition of Radio Regulations, removing obsolete cable reserves, adjusting boundaries of various bridge areas due to shoreline changes, removing the Tuen Mun Ferry Terminal from the legislation which specifies terminals for use by cross-boundary ferry vessels given its cessation of cross-boundary passenger transport, as well as prescribing the fees for surveying Hong Kong ships in relation to an Industrial Personnel Safety Certificate and other fees in relation to that certificate.
A spokesperson for the Transport and Logistics Bureau said, "To uphold Hong Kong's standing as an international maritime hub, the Government is committed to updating marine legislation regularly to reflect the latest developments in the local and global marine landscape. The current amendments are pivotal to ensuring that Hong Kong's marine legislation remains contemporary."
The Panel on Economic Development of the LegCo, as well as the Local Vessels Advisory Committee, Pilotage Advisory Committee, Port Operations Committee and Hong Kong Fleet Operation Advisory Committee of the Marine Department, have been consulted on the legislative proposal respectively. Members supported the proposal.
The proposed legislative amendments will be tabled at the LegCo for negative vetting on 16 October 2024.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/09/P2024100900200.htm.
Artificial Intelligence Subsidy Scheme opens for application
The Artificial Intelligence Subsidy Scheme was officially launched on 7 October 2024. Eligible organisations are welcome to submit applications to Cyberport.
To promote the development of the AI ecosystem in Hong Kong, the 2024-25 Budget announced an allocation of $3 billion for the launch of a three-year Subsidy Scheme, mainly to support local universities, research institutes, enterprises, etc, in leveraging the computing power of Cyberport's AI Supercomputing Centre (AISC) to achieve scientific breakthroughs.
Under the Subsidy Scheme, eligible users may generally be subsidised up to 70 per cent of the service list price of Cyberport's AISC. The Committee of the AI Subsidy Scheme appointed by the Government will vet and approve subsidy applications, including the specific amount, duration and conditions of use.
The first-phase facility of Cyberport's AISC is expected to commence operations within 2024. The computing power of Cyberport's AISC will progressively increase to reach a level of around 3 000 petaFLOPS.
For more information about the Subsidy Scheme and application details, please visit the thematic page of Cyberport at aisc.cyberport.hk/aiss. For enquiries, please contact the Secretariat of the Subsidy Scheme (email: aiss_enquiry@cyberport.hk).
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/07/P2024100700266.htm.
Adaptation period for new regulation on disposable plastic products to end on 21 October 2024
The Environmental Protection Department (EPD) spokesperson said on 7 October 2024 that the six-month adaptation period for the new regulation on disposable plastic products will conclude on 21 October 2024.
The EPD reminds all relevant businesses to prepare for the end of the adaptation period. For information on non-plastic alternatives, please visit the EPD's Green Tableware Platform (www.greentableware.hk) or contact the EPD hotline at 2838 3111.
During the past five months of the adaptation period, the new regulation has successfully initiated a trend of waste reduction across various sectors. The catering sector has reported that many takeaway customers have gradually adapted to bringing their own reusable cutlery. Chained restaurants have indicated that approximately 80 per cent of their customers have chosen not to require takeaway cutlery, and about 30 per cent of restaurants no longer provide any takeaway cutlery.
In the retail and services sectors, property management companies have revealed that most people have become accustomed to using umbrella dryers instead of single-use plastic umbrella bags. The use of disposable plastic products, such as plastic balloon sticks, glow sticks, and party hats during festivals, has significantly decreased, with businesses co-operating by switching to selling alternative products.
The hotel sector has reported that the consumption of disposable plastic items since the implementation of the new regulation has been reduced substantially. Many visitors have also expressed support for the new plastic-free measures. The implementation of the new regulation has encouraged habitual changes among both the public and the trades, fostering a new culture of "plastic-free, disposable-free, and green-recycling" at the community level and paving the way towards a new milestone in plastic-free living.
Plastic is widely used and deeply integrated into human life. However, due to its harm to the environment, there is now an international consensus: to achieve sustainable development, humanity must take action to reduce and ultimately eliminate plastic in the long term.
Hong Kong has implemented the new regulation since 22 April 2024, aiming to reduce the use of disposable plastic tableware and other disposable plastic products at the source. This initiative seeks to mitigate the impact of plastic pollution on marine ecology and human health, accompanied by publicity and education, with a view to establishing a habit and culture of being plastic-free in society.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/07/P2024100700350.htm.
InnoCarnival 2024 to run from 26 October to 3 November 2024
Organised by the Innovation and Technology Commission (ITC), the InnoCarnival 2024 (IC 2024) will be held from 26 October to 3 November 2024 at the Hong Kong Science Park with the theme of "Let’s Sail with Innovation and Technology". The event is receiving support from over 75 programme partners, including local universities, research and development centres and platforms, government departments and other organisations. Through an array of interesting activities, it aims to promote innovation and technology (I&T) culture. IC 2024 is also one of the Special 75 events and Highlight Events of the 75th anniversary of the founding of the People's Republic of China.
Speaking at the media preview for IC 2024 on 4 October 2024, the Commissioner for Innovation and Technology, Mr Ivan Lee, said that the Commission has been committed to driving the I&T development of Hong Kong and raising the awareness of I&T culture in the community. He believed that the Carnival was an annual flagship event which could foster popularity of science culture, nurture the young generation's interest in I&T, and attract more I&T talent in the long run.
The media preview exhibited the research and development (R&D) projects of several participating teams. Project team representatives presented their inspirational ideas, R&D processes, features and functions, and project applications. These projects include the "Flexible Exoskeleton for Load Transportation", developed by the Chinese University of Hong Kong which provides personalised assistance to the wearer when moving heavy objects to reduce back strain and muscle activity, minimising the risk of lower back pain while maximising comfort and safety; as well as the "Dye Removal from Denim Textile Wastewater by a Combinative Adsorption and Regeneration System" developed by the Hong Kong Research Institute of Textiles and Apparel (HKRITA), which is an environmental-friendly and cost-effective indigo dye treatment method using alumina-based adsorbents as efficient dye-adsorbent materials to remove indigo dye from textile wastewater.
In addition, representatives of Carmel Divine Grace Foundation Secondary School, introduced their anti-phone scam invention for seniors, "ElderDefender". Equipped with speech recognition technology, the device would make use of artificial intelligence and big data technology to scan phone message to reduce phone scams by issuing a visual alert. This invention earned awards in the Hong Kong Student Science Competition organised by the Hong Kong Federation of Youth Groups, as well as the Second City I&T Grand Challenge organised by the ITC together with the Hong Kong Science and Technology Parks Corporation.
Exhibition booths will be set up at the Hong Kong Science Park to showcase local I&T achievements, some of them with interactive games. Moreover, a diverse line-up of about 150 workshops and webinars across various subjects including artificial intelligence and energy conservation will be available during the carnival.
Prototypes of some of the winning I&T solutions of the Second City I&T Grand Challenge will also be displayed for trial in the IC 2024. To promote an I&T culture and enhance the application of I&T in the community, the second City I&T Grand Challenge was launched in March 2024 under the theme of "Hong Kong's Got I&T". It invited submissions from different sectors of the community to develop I&T solutions focusing on two subjects, namely "I&T for Nature (Yama)" (improving the operation and management of country parks and campsites, and enhancing hikers' experiences in nature) and "I&T for Community (Community Wellness)" (enhancing support for carers). After rounds of assessment and pitching, over 50 awards under the four categories, which were the Primary School Group, the Secondary School Group, the University/Tertiary Institute Group and the Open Group, were presented at the Grand Pitch in August 2024.
All IC 2024 activities are free of charge. Some of the activities require preregistration. Details are available at the thematic webpage (innocarnival.hk). Members of the public are most welcome to join.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/04/P2024100400462.htm.
Rates and Government rent due 31 October 2024
Demands for rates and/or Government rent for the quarter from October to December 2024 have been issued, and payment should be made by 31 October 2024.
Payment can be made:
(1) by using autopay, the Faster Payment System (FPS), PPS, Internet banking or bank automated teller machines (ATMs);
(2) by uploading an e-Cheque/e-Cashier Order via the Pay e-Cheque portal: www.payecheque.gov.hk;
(3) by sending a crossed cheque to the Treasury, PO Box No. 28000, Sham Shui Po Post Office, Hong Kong (please note that mail with insufficient postage will be rejected); or
(4) in person at any of the post offices or designated convenience stores in Hong Kong (i.e. 7-Eleven, Circle K, VanGo or U select). For the addresses and opening hours of post offices, please call Hongkong Post enquiry hotline on 2921 2222 or visit its website: www.hongkongpost.hk.
If payers have not received the demands, they may obtain replacement demands or enquire as to the amount payable by (i) visiting the Rating and Valuation Department website: www.rvd.gov.hk; (ii) calling 2152 0111; (iii) fax 2152 0113; or (iv) visiting in person at the Rating and Valuation Department, 15/F, Cheung Sha Wan Government Offices, 303 Cheung Sha Wan Road, Kowloon.
Please note that there will be no rates concession for this and the next quarters. The total amount due is shown on the demand. Non-receipt or late receipt of demand does not alter the requirement that the total amount due must be paid on or before 31 October 2024. A surcharge of 5 per cent will be imposed for late payment. A further surcharge of 10 per cent will be levied on the amount (including the 5 per cent surcharge) which remains unpaid six months after the last day for payment.
For payment by autopay, the rates and/or Government rent will be debited from payers’ bank accounts on 31 October 2024. Payers should ensure that there are sufficient funds in their bank accounts to meet the payments on that date until settlement.
To support environmental protection, payers are advised to utilise the Rating and Valuation Department free eRVD Bill service to receive e-bills and make payments. Payers are also encouraged to settle bills by autopay or other means of e-payment (e.g. PPS, ATMs, Internet banking or e-Cheque/e-Cashier Order) in order to save queuing time. Application forms for autopay are obtainable from the Rating and Valuation Department, District Offices and major banks in Hong Kong or by telephoning 2152 0111. Payers may also download the form from the Rating and Valuation Department website.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/04/P2024100300428.htm.
Government launches Signature Performing Arts Programme Scheme
The Government announced on 2 October 2024 the launch of the Signature Performing Arts Programme Scheme for selecting performing arts productions with potential and nurturing them to become representative and large-scale local performing arts productions for long-running performances.
Each selected programme under the Scheme will receive a maximum direct subsidy of $10 million to support expenses in areas such as creative concepts, stage productions, venue rentals, and marketing and promotion of the programme. To bring in resources from the community to jointly advance the development of local performing arts and to encourage the selected programmes to seek wider audience support, the Scheme will also provide a matching subsidy of up to $5 million to each selected programme to match the private sponsorship raised and box income received.
A selected programme must stage at least 15 stage performances in Hong Kong and attract a total of at least 10 000 paid audience members. In addition, in accordance with the objective of nurturing large-scale and representative local performing arts productions for long-running performances, if a selected programme is able to make a profit in its first round of performances and stage a second round of performances of a similar scale in Hong Kong within the following 18 months, an additional subsidy equivalent to 20 per cent of the total funding support for the first round of the programme will be provided, with a view to encouraging successful programmes to be staged in Hong Kong on a long-running basis.
A Government spokesman said, "The Scheme will only select the best programmes among the applications for support, as its name suggests. The Scheme will play a pivotal role in showcasing Hong Kong's performing arts capability and further consolidate our role as an East-meets-West centre for international cultural exchange." The Scheme will be implemented in two rounds, with two quotas under each round. Application details for the first round will be announced in November 2024, and the Scheme will be open for application before the end of 2024.
The Scheme was announced in the 2023 Policy Address. It aims to support representative and large-scale local performing arts productions to be staged as long-running performances, nurture world-class performing arts productions and international cultural brands that represent Hong Kong, and attract people from other places to Hong Kong, setting a stage facing the world.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/02/P2024100200224.htm.
Implementation of first phase of enhancement measures of Deposit Protection Scheme
The first phase of the enhancement measures of the Deposit Protection Scheme (DPS) came into effect on 1 October 2024, following the gazettal of the DPS (Amendment) Ordinance 2024 on 12 July 2024.
The enhancement measures that came into effect include:
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raising the deposit protection limit from HK$500,000 to HK$800,000 per depositor per bank;
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refining the levy system to enable the DPS Fund underpinning the DPS to reach the target fund size within a reasonable timeframe under the increased protection limit; and
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streamlining the negative disclosure requirement on non-protected deposit transactions for private banking customers.
The Chairman of the Hong Kong Deposit Protection Board, Ms Connie Lau Yin-hing, said, "We are pleased to see the smooth implementation of the first phase of enhancement measures. In particular, bank depositors will now be able to benefit from increased protection of up to HK$800,000. We have embarked on a series of promotional campaigns to raise public awareness of the enhanced DPS, and will continue to work closely with the banking industry to ensure the smooth implementation of the second phase of the enhancement measures in January next year (2025)."
The second phase of the enhancement measures will come into effect on 1 January 2025. The measures include providing enhanced coverage to affected depositors upon a bank merger or acquisition and requiring Scheme members to display the DPS membership sign on their electronic banking platforms.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/01/P2024092600533.htm.
Hong Kong Customs extends FTA Scheme to Myanmar and Honduras
Hong Kong Customs extended the Free Trade Agreement Transhipment Facilitation Scheme (FTA Scheme) on 1 October 2024 to cover transshipment cargoes from the Mainland to Myanmar via Hong Kong, and from Honduras via Hong Kong to the Mainland.
The scope of service of the FTA Scheme originally covers cargoes of 69 economies under 21 trade agreements signed between the Mainland and its trading partners to be transshipped northbound via Hong Kong to the Mainland, and the Mainland transshipment cargoes heading southbound via Hong Kong for Taiwan, Korea, Singapore, Vietnam, Nicaragua and Australia under eight trade agreements signed.
Upon the extension, local traders can now apply to Hong Kong Customs for a Certificate of Non-manipulation for the purpose of claiming a preferential tariff under the Framework Agreement on Comprehensive Economic Co-operation between the Association of South East Asian Nations and the People's Republic of China or the Regional Comprehensive Economic Partnership Agreement, and the Early Harvest Arrangement of the China-Honduras Free Trade Agreement, for cargoes from the Mainland transshipped to Myanmar via Hong Kong, and those from Honduras transshipped to the Mainland via Hong Kong.
Hong Kong Customs will make persistent efforts to extend the coverage of the FTA Scheme to enable more goods passing through Hong Kong to enjoy tariff concessions provided under relevant trade agreements, assist enterprises to tap into new markets, and reinforce Hong Kong's leading status as a logistics hub.
Hong Kong Customs has implemented the FTA Scheme since 20 December 2015, to provide traders with Customs supervision service and issue the Certificate of Non-manipulation to certify transshipment cargoes that have not undergone any further processing during their stay in Hong Kong. For applications, please visit www.customs.gov.hk/en/service-enforcement-information/trade-facilitation/fta/procedure/index.html.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/01/P2024093000437.htm.
Consultation conclusions on information sharing among Authorized Institutions to aid in prevention or detection of crime
The HKMA published on 30 September 2024 the conclusions of the public consultation on a proposal for information sharing among Authorized Institutions (AIs) to aid in prevention or detection of crime (Conclusions Document). The Conclusions Document sets out the main comments received, the HKMA’s responses, and the next steps on taking forward the HKMA’s proposal.
The HKMA launched a public consultation on 23 January 2024 to seek views from the banking sector and the public on proposals to facilitate sharing of information among AIs of information on customer accounts (including personal customers) for the purposes of preventing and detecting crime. The aim of the proposals is to help protect bank customers and the banking system against abuse for fraud, money laundering and terrorist financing (ML/TF).
The HKMA received a total of 18 submissions from the banking industry, professional associations, public sector, law enforcement agencies, relevant firms and organisations and members of the public in the consultation. Respondents were generally in support of the proposal. In particular, the HKMA welcomes the comments provided by the Office of the Privacy Commissioner for Personal Data (PCPD) from the perspective of protection of personal data privacy under the Personal Data (Privacy) Ordinance (Cap. 486) (PDPO), which are reflected in the Conclusions Document.
The HKMA will take into account the comments received and proceed with preparation of the necessary legislative amendments, which will form part of the overall review of the Banking Ordinance. In the meantime, the HKMA will continue to engage stakeholders on practical matters relating to implementation of the proposal.
The Conclusions Document is available on the HKMA website.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202409/30/P2024092700537.htm.
Authorised mobile network operators can install mobile communications facilities in specified buildings for free from 1 April 2025
The amended section 14 of the Telecommunications Ordinance (Cap. 106) (TO) came into operation on 1 October 2024. Mobile network operators authorised by the Communications Authority (CA) can access the reserved space in specified buildings with building plans approved on or after 1 April 2025, to install and maintain mobile communications facilities (MCFs) without the payment of a fee to the land owners concerned.
The TO stipulates that specified buildings cover newly built and rebuilt commercial, industrial, residential and hotel buildings. New government buildings and public housing developments will also follow the relevant arrangements to reserve space for mobile network operators to install MCFs.
To implement the new measure, the CA, after considering the views from the telecommunications industry, building developers, construction professional bodies and the property management industry, has promulgated the Code of Practice for the Provision of Mobile Access Facilities in Specified Buildings for the Provision of Public Mobile Radiocommunications Services (Mobile CoP), which stipulates the minimum standards and requirements of the infrastructure facilities for the installation of MCFs in specified buildings. The Building Authority has also updated the Practice Note for Authorized Persons, Registered Structural Engineers and Registered Geotechnical Engineers on Access Facilities for Telecommunications and Broadcasting Services (Practice Note (APP-84)) issued in accordance with section 28A of the Building (Planning) Regulations (Cap. 123F), which promulgates the requirements on floor space and ancillary facilities for the installation of MCFs in specified buildings. The Mobile CoP and the Practice Note (APP-84) came into effect on 1 October 2024. Details have been uploaded to the websites of the CA and the Buildings Department.
The relevant amendments to the TO will help institutionalise the arrangements for installing MCFs in specified buildings and streamline the approval process, with a view to further expanding the network coverage of Hong Kong's fifth generation (5G) mobile services and facilitating Hong Kong's development into a smart city.
For relevant press release, please visit https://www.info.gov.hk/gia/general/202409/30/P2024093000234.htm.
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 HKPC to gradually enhance the services of “SME ReachOut” in the ensuing five years starting from 2023. HKPC has enhanced the services of “SME ReachOut” 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, focusing on areas such as ESG, technology transformation, digitalisation and cyber security, with a view to 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://smereachout.hkpc.org/en.
Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund)
“E-commerce Easy” was launched in July 2024, under which enterprises can flexibly make use of a maximum funding of $1 million within their funding ceiling to implement electronic commerce (e-commerce) projects, to further assist them in exploring the Mainland domestic sales market. Unlike general applications of the BUD Fund, items under “E-commerce Easy” projects are not subject to individual funding caps, so that more targeted support can be provided to enterprises.
The HKPC as the BUD Fund implementation partner regularly organises seminars/webinars in order to enhance enterprises’ understanding of the BUD Fund, including “E-commerce Easy” and “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 October 2024 is as follows:
You are welcomed to join the seminar.
Corruption Prevention Advisory Service (CPAS) of ICAC
A good governance system is vital for SMEs' effective operation, and can help sustain their company image and hence counterparts' confidence in doing business with them. The Corruption Prevention Department of the Independent Commission Against Corruption (ICAC) has launched the Corruption Prevention Advisory Service (CPAS). The CPAS is a specialised unit dedicated to providing tailor-made, free and confidential corruption prevention advice on system control in common business areas such as procurement and staff administration. Enterprises can access its user-friendly web portal (https://cpas.icac.hk/EN/) for details of the services and to get timely and useful resources on corruption prevention such as staff code of conduct, corruption prevention guides and tools, case studies, quick tips and red flags. To receive regular updates on corruption prevention, please click here to subscribe to the CPAS e-news.
Free IP Consultation Service
The IPD, supported by the Law Society of Hong Kong, now provides FREE One-On-One IP Consultation Service for SMEs. To obtain more information and/or apply for the Service, please visit IPD's dedicated website "Hong Kong – Regional IP Trading Centre": https://ip.gov.hk/en/home/consultation-service/index.html.
Business News
GDETO Newsletter
The latest issue of the Hong Kong Economic and Trade Office in Guangdong (GDETO) Newsletter has been published.
More Details (in Chinese only)
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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