The HKMA, has joined hands with multilateral organisations, including the Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and International Finance Corporation (IFC), a member of the World Bank Group, to announce a strategic partnership at the Asia Climate Investment Seminar on 11 November 2024. The partnership marks a significant step towards strengthening strategic co-operation in sustainable finance in Asia.

The strategic partnership serves as a call to action for all stakeholders to unite against climate change, with Actis GP LLP (Actis) being one of the General Partners supporting the initiative, aiming to deploy at least US$500 million in Asia. The partners emphasise the importance of a collaborative approach involving multiple partners and institutions to address sustainability challenges in the region. They will focus on investments in sectors that contribute to achieving net zero emissions and reducing greenhouse gases in the region, including renewable energy infrastructure, energy solutions and sustainable transportation.

The Chief Executive Officer of the Exchange Fund Investment Office of the HKMA, Mr Howard Lee, said, "As a leading green finance hub in Asia, Hong Kong has been facilitating a significant portion of the region’s international green and sustainable bonds in recent years. Through strategic partnerships, we aim to demonstrate that achieving both financial return and sustainable development in Asia is not only feasible but essential for our vision of progress and environmental stewardship."

The Director General for Private Sector Operations of the ADB, Ms Suzanne Gaboury, said, "Developing economies in Asia and the Pacific face significant shortfalls in climate investments needed to clear the path to green growth. As the climate bank for the region, ADB is scaling up its climate financing and collaborating with like-minded organisations to channel capital to bankable and impactful development projects."

The Director General, Financial Institutions and Funds Clients Department, Global, of the AIIB, Mr Gregory Liu, said, "Our strategic partnership with the HKMA, ADB, and IFC reflects AIIB’s commitment to advancing climate-focused investments that drive sustainable growth in Asia. Together, we aim to accelerate Asia’s transition to a low-carbon economy, setting a robust foundation for impactful climate action and regional resilience."

The Regional Director for East Asia and the Pacific at IFC, Ms Kim-See Lim, said, "Climate change is the challenge of our time, and the stakes are especially high in Asia, where the crisis poses major challenges to environmental stability, economic growth and human development. IFC is pleased to collaborate with HKMA, Actis, ADB and AIIB to drive meaningful change by channelling capital into climate projects in countries across the region that need it most, while helping to accelerate an inclusive transition to low-carbon, resilient growth."

Partner, Head of Sustainability at Actis, Ms Shami Nissan, said, "With half the world’s population, rapid industrialisation, carbon intensive grids and accounting for half of global emissions, Asia is absolutely vital to our ability to deliver a net zero future. We are delighted to be partnering with strategic investors of Actis to support this need."

About HKMA

The HKMA is Hong Kong's central banking institution. The HKMA's main functions are: (i) maintaining currency stability within the framework of the Linked Exchange Rate System; (ii) promoting the stability and integrity of the financial system, including the banking system; (iii) helping to maintain Hong Kong's status as an international financial centre, including the maintenance and development of Hong Kong's financial infrastructure; and (iv) managing the Exchange Fund.

About ADB

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

About AIIB

The AIIB is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond – infrastructure with sustainability at its core. The AIIB began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. The AIIB is capitalised at US$100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

About IFC

IFC - a member of the World Bank Group - is the largest global development institution focused on the private sector in emerging markets. IFC work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilising private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.

About Actis

Actis is a global investment management firm focused on sustainable infrastructure including sustainable energy solutions.

For relevant press release, please visit https://www.info.gov.hk/gia/general/202411/11/P2024110800648.htm.

The relevant provisions of the Mercury Control Ordinance prohibiting the supply and sale of regulated mercury-added products will come into effect on 1 December 2024 to protect public health and the environment from anthropogenic emissions of mercury and mercury compounds.

The Ordinance came into effect on 1 December 2021, to fully implement the Minamata Convention on Mercury in Hong Kong. It regulates the import, export, keeping and use of mercury, mercury mixtures and mercury compounds, as well as the import, export and manufacture of mercury-added products. Provisions prohibiting the supply or sale of regulated mercury-added products will take effect on 1 December 2024 to facilitate the industry's gradual transition to the use and supply of mercury-free alternatives.

A spokesman for the EPD said that starting from 1 December 2024, no person shall supply (including selling or providing for free) regulated mercury-added products. However, the use of regulated mercury-added products does not constitute an offence. Regulated mercury-added products include batteries, switches and relays, compact fluorescent lamps, linear fluorescent lamps, high-pressure mercury vapour lamps, cold cathode fluorescent lamps and external electrode fluorescent lamps for electronic display, cosmetics, biocides and topical antiseptics, and non-electronic measuring devices (mercury thermometers and mercury sphygmomanometers).

The spokesman said, "Currently, most regulated mercury-added products are no longer available on the market. There are ample mercury-free alternatives available, and there are no local manufacturers that require the use of mercury or mercury compounds in their manufacturing processes. It is believed that this control will have a very low impact on the public and the industry."

In order to help the industry understand and comply with the provisions of the Ordinance, the EPD has sent letters to inform stakeholders, including suppliers, sellers, and chambers of commerce, about the details of the prohibition on the supply of regulated mercury-added products. This information has also been disseminated to their members through chambers of commerce. From September to October 2024, EPD officers visited about 1 000 merchants that may still sell regulated mercury-added products (such as mercury thermometers and mercury sphygmomanometers), distributing promotional materials and explaining relevant regulatory content to them.

In addition, the EPD will provide free collection and disposal services to merchants who still have stocks of regulated mercury-added products. Merchants in need can apply to the EPD from 2 December 2024 to 17 January 2025. Enquiries regarding the details can be made by calling 3107 8421 or emailing mercurycontrol@epd.gov.hk.

For information on regulated mercury-added products, please visit the EPD webpage: www.epd.gov.hk/epd/english/international_conventions/mercury/mco.html.

For relevant press release, please visit https://www.info.gov.hk/gia/general/202411/08/P2024110700440.htm.

The Government published in the Gazette on 8 November 2024 the Stamp Duty Legislation (Miscellaneous Amendments) Bill 2024 to waive the stamp duty payable on the transfer of shares or units of real estate investment trust (REIT) and the jobbing business of options market makers, and to provide for a revised stamp duty collection arrangement upon the implementation of the uncertificated securities market (USM) regime in Hong Kong.

"The stamp duty waiver payable on the transfer of REIT shares or units and the jobbing business of options market makers, as announced in the 2024-25 Budget, would enhance the competitiveness of Hong Kong REITs and reduce the transaction costs of options market makers. The revised stamp duty collection arrangement would facilitate a more efficient stamping and collection process under the USM environment. These measures would help promote the development of the financial market," the Government spokesperson said.

The Bill will be introduced into the LegCo for first reading on 20 November 2024.

For relevant press release, please visit https://www.info.gov.hk/gia/general/202411/08/P2024110700472.htm.

The Transport Department (TD) reminded members of the public on 1 November 2024 that, from 18 November, applicants for the new issue or renewal of 21 driving and vehicle licences must provide and verify a Hong Kong mobile phone number or email address as an e-contact means (ECM) for receiving electronic messages issued by the Hong Kong Police Force and the TD in future, in preparation for the Traffic e-Enforcement System to be implemented gradually in the first half of 2025.

Starting from 18 November:

• "Online applications, instant verification": The TD encourages the public to submit licence applications online, so that they can provide and instantly verify the ECM using a one-time password (OTP) during the application process, thereby saving time and enjoying convenience;
• "Applications in paper form, verification via designated platform": If a paper application is necessary, the applicant must provide and verify the ECM via OTP on the TD's designated online platform within three months prior to application submission, and provide the same verified ECM in the application form before submission. The designated online platform was launched at 10 am on 4 November;
• The verified ECM will only be updated in the applicant's records of driving licence and/or all vehicle(s) registered under his/her name after the application concerned has been approved to ensure that it is accurately updated;
• If an ECM cannot be provided or verified, or if the ECM provided is inconsistent with the verification record, the application cannot be processed;
• For any change of ECM, the applicant must notify the TD within 72 hours of the change through the online services in GovHK or by submitting form TD559;
• Holders of licences that have not yet expired do not need to rush to provide and verify the ECM early; and
• Driving licence holders who have not provided an ECM to the TD before are also welcome to provide and verify their ECM through the online services in GovHK or by submitting form TD559.

A spokesman for the TD said, "Providing a frequently used and verified ECM is of utmost importance. If the Hong Kong mobile phone number or email address is incorrect or not frequently used, the licence holder will not be able to receive notifications issued by the Police and the TD, which may result in e-Tickets and tunnel tolls not being paid timely, and may need to bear the legal responsibilities such as penalties or surcharges. Applicants must ensure that their Hong Kong mobile phone number or email address is correct. If different ECMs are provided or verified at different times, the latest record will replace the old one, rendering the original ECM invalid."

Applicants providing a Hong Kong mobile phone number as their ECM should note that the TD has participated in the SMS Sender Registration Scheme under the Office of the Communications Authority. SMS messages issued by the TD will bear the ID "#TDeContact" with the prefix "#" for easy authentication. The TD will not send SMS messages or emails with hyperlinks.

From September 2024, the TD has held over 10 briefings for the transport sector, including the goods vehicle, taxi, public light bus and non-franchised bus trades, as well as stakeholders covering driving schools, vehicle dealers and financial institutions, which handle first registration of new vehicles and application for vehicle licences for their clients, to brief them on the new legal requirements regarding provision and verification of ECM. The TD will issue letters in batches to holders whose licences will soon expire, informing them of the detailed steps for providing and verifying an ECM. The TD has also deployed service ambassadors at its four Licensing Offices and the Cross Boundary Unit from 4 November to assist the public in submitting applications and verifying their ECM.

The passage of the Electronic Traffic Enforcement (Miscellaneous Amendments) Bill 2023 by the LegCo on 19 June 2024, provides a legal basis for the Police to serve fixed penalty notices against traffic offences or contraventions by electronic means; it also requires registered owners of vehicles, holders of various types of licences and permits, and holders of driving licences to provide the TD with their ECM in their applications. The Government then published in the Gazette that relevant provisions on collecting ECM would be implemented on 18 November.

The public may refer to the TD's thematic webpage, HKeMobility mobile application and Agent T Facebook page (www.facebook.com/AgentT.hk), or call the hotline at 2804 2600 for details.
 
For relevant press release, please visit https://www.info.gov.hk/gia/general/202411/01/P2024110100278.htm.

The Chief Executive's 2024 Policy Address announced the extension of the facilitation measure on the 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) to all sectors, promoting more cross-boundary services to benefit the public and businesses while facilitating data flow throughout the GBA. The related measure commenced on 1 November 2024.
 
According to the agreement framework of Memorandum of Understanding on Facilitating Cross-boundary Data Flow Within the Guangdong-Hong Kong-Macao Greater Bay Area, signed by the Innovation, Technology and Industry Bureau and the Cyberspace Administration of China (CAC) in June 2023, the GBA Standard Contract facilitation measure was launched at the end of 2023, allowing individuals and organisations of the two places, namely the nine Mainland cities in the GBA (i.e., Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing in Guangdong Province) and Hong Kong, to enter into a standard contract by adopting a standardised template on a voluntary basis, with a view to facilitating and streamlining the cross-boundary flow of personal information within the GBA in a safe and orderly manner. 
 
The "early and pilot implementation" arrangements of the facilitation measure on GBA Standard Contract for the banking, credit referencing and healthcare sectors has been operating smoothly and has been well received. Thus, the Digital Policy Office (DPO) announced that starting from 1 November 2024, industries of all sectors in the nine Mainland cities in the GBA and Hong Kong can take part in the facilitation measure and voluntarily adopt the GBA Standard Contract. The DPO, at the same time, optimises the filing arrangements and rationalises several operational details to further facilitate the compliance of the cross-boundary flow of personal information by enterprises.
 
The Commissioner for Digital Policy, Mr Tony Wong, said, "Facilitating the Mainland’s data flow in the GBA is an important initiative to promote the development of cross-boundary services, digital economy and smart cities. It not only brings benefits to citizens and enterprises, but also accelerates the integration of economic development in the GBA. We are grateful for the support of the CAC and the Cyberspace Administration of Guangdong Province in enabling industries of all sectors in the GBA to enjoy the benefits from the GBA Standard Contract facilitation measure."
 
Mr Wong added that, "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 compliance with the Personal Data (Privacy) Ordinance (PDPO). The processing and cross-boundary transfer of personal information in Hong Kong will continue to be on a voluntary basis and being regulated in accordance with the PDPO of Hong Kong."
 
The DPO will arrange briefings and production of promotional videos to facilitate industries' understanding of the details of the facilitation measure on the GBA Standard Contract. For details, please visit the DPO’s thematic webpage (www.digitalpolicy.gov.hk/en/our_work/digital_infrastructure/mainland/cross-boundary_data_flow/index.html).
 
For relevant press release, please visit https://www.info.gov.hk/gia/general/202411/01/P2024110100291.htm.

The Environment and Ecology Bureau (EEB) of the HKSARG and the Department of Industry and Information Technology of Guangdong Province (GDDIIT) convened the 11th meeting of the Hong Kong-Guangdong Joint Working Group on Cleaner Production (JWGCP) in Hong Kong on 31 October 2024. An award presentation ceremony for the Hong Kong-Guangdong Cleaner Production Partners Recognition Scheme was also held to commend the efforts of over 210 enterprises in pursuing cleaner production.
 
The 11th meeting of the JWGCP was co-chaired by the Secretary for Environment and Ecology of the HKSAR Government, Mr Tse Chin-wan, and the Director-General of the GDDIIT, Mr Tu Gaokun. The meeting reviewed the work progress in 2024 and approved the 2025 work plan. Governments of both Hong Kong and Guangdong will continuously promote the adoption of cleaner production technologies in energy-intensive industries for saving energy and the development of energy-saving equipment; support water-intensive industries to apply water-saving technological upgrades to reduce and control wastewater discharge; promote enterprises to adopt relevant technologies to reduce solid waste and emissions, including controlling and reducing volatile organic compounds emissions at source; encourage polluting industries to undertake cleaner production audits; and support enterprises to pursue green transformation. Both sides will also continue to implement various publicity activities to promote the effectiveness of cleaner production to the industry.
 
The meeting was attended by representatives of the EEB, the EPD, the TID, the Innovation and Technology Commission and the Hong Kong Economic and Trade Office in Guangdong of the HKSAR Government. On the Guangdong side, representatives of the GDDIIT and the Department of Ecology and Environment of Guangdong Province attended the meeting.
 
After the meeting, the 2024 award presentation ceremony for the Scheme was held to commend enterprises that have diligently pursued cleaner production. In 2024, a total of 215 enterprises were commended as Hong Kong-Guangdong Cleaner Production Partners. Of these, 42 Hong Kong-owned manufacturing enterprises were commended as "Excellent Partners" of the Scheme while 149 were commended as "Partners". Other commended enterprises included three sourcing enterprises and 21 environmental technology service providers.
 
The EPD of the HKSARG, in collaboration with the GDDIIT, launched the Cleaner Production Partnership Programme (the Programme) in 2008. To date, the Programme has provided funding support for more than 4 200 applications, aiming to promote the adoption of cleaner production technologies and practices by Hong Kong-owned factories in the region. To commend the dedicated efforts taken by the enterprises in pursing cleaner production, Guangdong and Hong Kong jointly launched the Scheme in 2009 to recognise enterprises adopting cleaner production as Hong Kong-Guangdong Cleaner Production Partners.
 
Cleaner production has brought remarkable benefits in improving the environmental quality, and the Chief Executive announced in his 2024 Policy Address that $100 million would be injected to launch a new round of the Programme for the application period from April 2025 to June 2027. The new round of the Programme will strengthen support and encourage Hong Kong-owned factories in Hong Kong and Guangdong Province to adopt cleaner production technologies and practices, transform and upgrade traditional industries with the adoption of green technologies to achieve energy saving, emission reduction, consumption and carbon emission reduction, thereby improving the regional environment and helping achieve the carbon neutrality targets of the country and Hong Kong.
 
Details of the Programme and the Scheme are available on the dedicated website of cleaner production: www.cleanerproduction.hk.
 
For relevant press release, please visit https://www.info.gov.hk/gia/general/202410/31/P2024103100202.htm.