Financial Secretary Paul Chan concluded his visit to Bangkok, Thailand this morning after meeting with Thai Deputy Prime Minister and Minister of Finance Ekniti Nitithanprapas.

During the meeting in the morning, Mr Chan and  Ekniti Nitithanprapas exchanged views on further strengthening economic, trade and financial co-operation between Hong Kong and Thailand.

The two sides explored ways to deepen co-operation and connect foreign direct investment in Thailand with Hong Kong's capital market to further support enterprises investing and expanding their businesses in Thailand.

Mr Chan said that Hong Kong could leverage its strengths as an international financial centre to provide comprehensive investment and financing support for enterprises in Thailand. Hong Kong also welcomed closer regulatory co-operation between the two securities markets to encourage dual listings by enterprises from both places and strengthen capital market ties.

He added that with Mainland enterprises accelerating their international expansion and increasing investment in Thailand and Southeast Asia, Hong Kong could further enhance its bridging role by matching the Mainland's technological strengths with Thailand's industrial development needs, thereby fostering investment and industrial co-operation.

Mr Chan thanked Mr Ekniti for visiting Hong Kong to attend the Asia-Pacific Economic Cooperation Finance Ministers' Meeting, and invited him to attend the Asian Financial Forum in Hong Kong in January next year to further strengthen economic, trade and financial ties between the two places and across the region, and jointly explore new opportunities for co-operation.

The Financial Secretary also met with the chief executive officer and senior management of a major French bank with extensive operations in Hong Kong this morning.

They exchanged views on developments in the fixed income and currency markets in Hong Kong and the region, green and sustainable finance, tokenised financial products, and asset and wealth management.

Mr Chan welcomed the group's continued expansion in Hong Kong and its use of the city as a key hub for developing its regional business, tapping into the opportunities offered by Hong Kong as an international financial centre.

Having concluded his morning programme, Mr Chan departed for Hong Kong and returned this afternoon.

As a member of the Chinese delegation, Financial Secretary Paul Chan today attended the plenary session of the Annual Meetings of the International Monetary Fund and the World Bank Group (WBG) in Bangkok, Thailand.

Mr Chan also took part in discussions organised by financial media and a think tank, met senior executives of international financial institutions and enterprises, and hosted a dinner for financial leaders.

At a fireside chat organised by Bloomberg, Mr Chan outlined how Hong Kong’s First Five-Year Plan aligns with the National 15th Five-Year Plan, providing clear development directions and goals for the public and businesses.

He said that Hong Kong would focus on developing its “four centres and one hub”, thereby reinforcing and enhancing its status as an international financial, shipping and trade centre. He said Hong Kong would also leverage its strengths and work in tandem with other cities in the Greater Bay Area to advance its development as an innovation and technology (I&T) centre.

Mr Chan stressed that financial development must serve the real economy, adding that Hong Kong will deepen its “Finance+” strategy to empower different industries, support enterprises in their upgrading and transformation efforts, and provide venture capital, patient capital and long-term funding for I&T to accelerate the development of emerging industries.

He remarked that Hong Kong’s international character is a core strength that must be continuously reinforced and enhanced. While strengthening ties with mature markets such as Europe and the US and attracting international capital, Hong Kong will also deepen co-operation with emerging markets in Southeast Asia, the Middle East and Central Asia. Mr Chan elaborated that Hong Kong will open up two-way investment opportunities by bringing together capital and industries to meet development needs across these markets.

Beyond promoting business and trade exchanges, he said, Hong Kong will leverage its strengths in financial and professional services, including green and sustainable finance and trade finance, to support infrastructure, supply chain and industrial development in the region.

On the topic of offshore renminbi business, Mr Chan said Hong Kong is expanding its range of investment products, enhancing custody and collateral management infrastructure, and increasing liquidity to add depth and breadth to the market.

He stressed that “one country, two systems” provides Hong Kong with an institutional advantage in its long-term development, adding that talent is a key driving force for its future growth.

He said Hong Kong will remain free, open, diverse and inclusive, welcoming enterprises and talent from around the world to set up and pursue careers in the city, and young people to study in it.

Mr Chan also took part in a broadcast fireside chat hosted by the Atlantic Council, a US think tank.

He described the latest developments in Hong Kong’s financial markets and how its first five-year plan will advance I&T, promote the integrated development of education, technology, talent and industries in the Northern Metropolis, and deepen co-operation with other bay area cities in I&T industries.

In addition, Mr Chan met WBG Managing Director and Chief Administrative Officer Zhang Wencai for an exchange of views on the global and regional economic outlook and deepening co-operation between Hong Kong and the WBG.

Mr Chan also met the management of a major European digital bank to discuss fintech development, digital banking services and cross-boundary payments, and outlined opportunities in Hong Kong’s financial markets.

In the evening, Mr Chan attended a dinner organised by the Hong Kong Economic & Trade Office in Bangkok. He spoke of developments in Hong Kong’s economy and financial services sector, and discussed opportunities to strengthen financial co-operation.

The Government announced today that the Working Group on Developing Tourist Hotspots will launch its next phase by progressively rolling out four new “signature tourism” projects from the current quarter.

Deputy Chief Secretary Cheuk Wing-hing, who leads the Working Group, said the Government is committed to identifying and integrating tourism resources in Hong Kong.

“Through strengthening cross-departmental co-ordination and leveraging community efforts, the nine tourist hotspot projects rolled out in the first phase have been well received. Starting from the end of this year, the Working Group will roll out tourist hotspot projects covering themes such as industrial brands, miniature art, religious culture and local characteristics in phases, showcasing Hong Kong's unique cultural heritage and city landscape to visitors.”

The four upcoming projects are phase two of the Hong Kong Industrial Brand Tourism Scheme, the Hong Kong Miniature City Exhibition, immersive religious and cultural tours, and the Seasons of Yuen Long district tourism promotion project.

Building on the success of the initial launch, phase two of the Hong Kong Industrial Brand Tourism Scheme will introduce diverse new brand experiences for visitors, including tours of Kowloon Motor Bus depots, the MTR “Station Rail Voyage: Explorer” exhibition, and Beijing Tong Ren Tang’s Hong Kong research, development and production base.

Madame Tussauds Hong Kong will recreate the Hong Kong Miniature City Exhibition at the Peak Tower starting from the current quarter. The exhibition will feature exquisite miniature artworks that showcase Hong Kong’s landmark buildings, authentic customs and ways of life in three dimensions.

With regard to immersive religious and cultural tours, the Chinese Temples Committee is strengthening digitalisation and cultural promotion across its administered temples. Initiatives include installing QR code display boards that allow visitors to learn about temple antiquities and redeem cultural souvenirs. The Government will also further explore using temples as the core to connect historical buildings and monuments of cultural value across various districts.

​To showcase urban-rural integration in Yuen Long, the Yuen Long District Office will collaborate with district organisations on the Seasons of Yuen Long project, which will invite visitors to explore the district’s characteristics under different themes throughout the year. The project comprises the production of a tourist map, the development of a thematic website, and the installation of themed information boards near landmarks in the town centre and rural areas of Yuen Long.

The Inland Revenue (Amendment) (Tax Deductions for Intellectual Property Expenditure) Bill 2026 was published in the Government Gazette today.

The bill aims to relax tax deduction arrangements for capital expenditure incurred by enterprises in purchasing Intellectual Property (IP) rights or licences to use such rights.

The Commerce & Economic Development Bureau said the bill puts into effect a measure announced in the 2025-26 and 2026-27 budgets on enhancing tax deduction arrangements for local IP.

It added that the relaxation will serve to lower the costs of IP transactions, thereby facilitating more IP trading activities, and support the development of knowledge-intensive industries in Hong Kong.

The bill proposes to allow tax deductions for relevant capital expenditure incurred by enterprises in respect of the following: purchases of IP rights from associates; purchases of IP rights which are used by a licensee outside of Hong Kong; and upfront licence fees for the use of IP rights.

The amendments proposed will apply to contracts entered into on or after April 1 this year, either for the purchase of IP rights, or for a licence to use IP rights.

The bill will be introduced in the Legislative Council for first and second readings on October 28.

The Mandatory Provident Fund Schemes (General) (Amendment) Regulation 2025 will come into operation on December 21, following a notice published today in the Government Gazette.

This commencement notice facilitates the rollout of Phase One of Mandatory Provident Fund (MPF) "Full Portability". Under the Amendment Regulation, employees whose employment began on or after May 1 last year (New EEs) will be permitted to transfer the entirety of their accrued benefits derived from employer mandatory contributions in respect of their current employment.

These funds can be moved from the employer’s chosen MPF scheme to a personal account of an MPF scheme of their own choice. Transfers can be made once every calendar year, or more frequently if permitted by the governing rules of the transferring MPF scheme.

Secretary for Financial Services & the Treasury Christopher Hui stated that with the implementation of Phase One "Full Portability" on December 21, the Government has fulfilled its commitment outlined in the 2026 Policy Address. He noted that this change will give new employees greater control over their MPF benefits, encourage more proactive management of their investments, stimulate market competition, and create room for fee reductions.

Mr Hui added that the Government is currently drafting legislative proposals for Phase Two "Full Portability", which will extend these benefits to the remaining workforce. The corresponding amendment bill is scheduled to be introduced to the Legislative Council by mid-2027.

The commencement notice will be tabled before the Legislative Council next Wednesday for negative vetting.

Financial Secretary Paul Chan began a visit to Bangkok, Thailand today by attending the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group, as a member of the Chinese delegation.

Mr Chan attended a roundtable co-organised by the IMF and the Hong Kong Monetary Authority. The session explored how economies in the Middle East and Central Asia can better leverage the vast opportunities offered by Hong Kong’s investment and financing markets.

In a speech, Mr Chan said that the increasingly close financial ties between Hong Kong and both the Middle East and Central Asia allow investors diversify their portfolios and help enterprises to raise capital. As economies in the two regions continue to develop and diversify, Hong Kong can support them by mobilising long-term capital, broadening currency options, and sharing risks.

Regarding long-term capital mobilisation, he emphasised that Hong Kong’s common law system under “one country, two systems”, its free flow of capital, the Linked Exchange Rate System, its diverse investor base, and its connectivity with both Mainland and international capital markets all provide a solid foundation for investment.

On broadening currency options, he outlined that Hong Kong continues to enhance its offshore Renminbi (RMB) ecosystem to facilitate financing, settlement and investment. He said this helps enterprises with close business ties to the Mainland reduce currency conversion risks, allowing them to better align the currencies of their receipts, payments and borrowings.

Mr Chan invited international multilateral organisations, financial institutions and insurers to collaborate on promoting more efficient capital mobilisation and risk management, enabling all parties to share in the benefits of economic development. He added that Hong Kong’s concentration of professional expertise and extensive experience can help structure projects to make them bankable, fostering a virtuous cycle in which investment drives growth and growth creates investment opportunities.

Mr Chan also called on Chinese Ambassador to Thailand Zhang Jianwei, to exchange views on Thailand’s economy, China-Thailand relations and the international landscape. During the meeting, he provided an update on Hong Kong’s economy and an overview of the city’s First Five-Year Plan. The two parties discussed strengthening economic, trade and people-to-people exchanges between Hong Kong and Thailand.

Additionally, Mr Chan met the International Finance Corporation’s Regional Vice President for Asia and the Pacific Sarvesh Suri to discuss deepening co-operation across several key areas.

These included mobilising private capital to support sustainable development in infrastructure, education, healthcare and the digital economy; participating in the formulation of relevant international standards; strengthening financing support for trade, supply chains and small and medium-sized enterprises; using financial instruments such as catastrophe bonds to manage and share climate risks; and enhancing co-operation in talent training.

Mr Chan will continue his visit to Bangkok tomorrow, when he will attend the plenary session of the Annual Meetings of the IMF and the World Bank Group.

The Digital Policy Office announced today that an AI Assistant feature is being introduced in the latest version of the “iAM Smart” mobile application to answer enquiries about government services.

The update will be rolled out gradually via official application stores from today through to late October.

The AI Assistant's service covers enquiries related to public services provided by the Government. Members of the public can type in queries and the assistant will retrieve information instantly from official sources, and organise it into coherent and concise content, using AI technology. 

When users enquire about an online application procedure, the AI Assistant will list out eligibility criteria, step-by-step instructions and a relevant service link, enabling one-click access to the online service. Where applicable, it will also integrate with the "e-ME" form-filling function of “iAM Smart” to assist users in completing online forms.

To activate the AI Assistant, users can simply update to the latest version of the app and tap the icon of the mascot "Swifty" on the homepage.

An enhanced version of the AI Assistant with personalised features will be launched before the end of the year.

Financial Secretary Paul Chan will depart for Bangkok, Thailand, tomorrow morning to attend the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) as a member of the Chinese delegation. Global finance officials, central bank representatives, business leaders, non-governmental sector leaders and academics will gather to discuss the global economic outlook, financial stability, inclusive growth, poverty reduction and job creation.

The discussions will also focus on mobilising private capital for infrastructure investment and leveraging artificial intelligence to promote employment and sustainable growth across economies while managing associated risks. Mr Chan will attend the plenary session this Friday and participate in an IMF-Hong Kong Monetary Authority roundtable exploring investment opportunities for Middle Eastern and Central Asian economies.

He will outline how Hong Kong can leverage its financial markets to meet these economies' needs and foster deeper cross-border financial co-operation. In addition, Mr Chan will take part in dialogue sessions organised by Bloomberg and the Atlantic Council to discuss Hong Kong's economy and offshore renminbi business.

The Financial Secretary will highlight Hong Kong's unique resilience as an international financial centre and its strategic role in connecting the Mainland and global capital markets. Throughout the event, he will also meet senior executives from the IMF, the WBG and international financial firms to exchange views on regional economic situations.

Mr Chan will also introduce the latest developments in Hong Kong's financial services sector to strengthen ties and foster future collaboration. He will return to Hong Kong on Saturday afternoon, during which time Deputy Financial Secretary Michael Wong will act as Financial Secretary.

Six orders made by the Chief Executive in Council to implement Comprehensive Avoidance of Double Taxation Agreements (CDTAs) with six countries will be published in the Gazette on October 16.

The CDTAs were signed between May last year and March this year, involving Barbados, Jordan, the Kyrgyz Republic, Maldives, Norway and Rwanda.

They ensure that Hong Kong residents and the tax jurisdictions concerned will not be taxed twice on the same income. The pacts also help investors better gauge potential tax burdens from their cross-border economic activities, boosting bilateral trade and investment.

The six orders will be tabled at the Legislative Council on October 21 for negative vetting.

The agreements will enter into force once Hong Kong and the treaty partners complete their ratification procedures.

The Innovation & Technology Commission announced today that the Pilot Innovation & Technology Accelerator Scheme Assessment Committee, under the Innovation & Technology Fund, has given its support in principle to a batch of nine applications.

The list of applicants supported is as follows: BJ-HK-SZ Innotech Accelerator; China Outbound Accelerator; China Resources Corporate Services (HK); Hong Kong Branch of The National Torch Academy of Innovation & Entrepreneurship Co.; Surrich Consulting Co.; Tenwings Accelevator Company; ventureLAB Smart City Accelerator; Xi'an Jiaotong University Hong Kong Institute of Advanced Studies Co.; and Zhong Xing No.1 Investment Fund.

Secretary for Innovation, Technology & Industry Prof Sun Dong said that the nine organisations possess extensive networks and resources in areas such as artificial intelligence, robotics, biomedicine, new energy and new materials.

“They will provide value-added services including co-working space, research and development support, investment matching and market development to accelerate the growth of innovation and technology (I&T) companies in Hong Kong.

“The Hong Kong Special Administrative Region Government will continue to enhance the I&T ecosystem and develop Hong Kong into an international I&T centre.”

The scheme aims to attract I&T enterprise service providers which have proven track records in and beyond Hong Kong to set up accelerator bases in the city and support the development and of I&T enterprises.

Under the scheme, the Government will provide funding support on a one‑to‑two matching basis in relation to service providers, with a ceiling subsidy of $30 million. The project duration is up to three years.

The scheme has received over 50 applications since launching in January. The nine organisations were selected for funding support based on a series of assessment criteria, including their levels of experience, operational models, capital and resources, the quality of their management and project teams, and expected benefits to Hong Kong’s I&T ecosystem.

Call 3543 5904 or send an email for enquiries.

Financial Secretary Paul Chan today concluded his visit to Nanjing by meeting the leadership of Jiangsu Province and touring advanced manufacturing and pharmaceutical enterprises.

Mr Chan began the day with a breakfast meeting with member of the Standing Committee of the CPC Jiangsu Provincial Committee and Executive Vice Governor of Jiangsu Province Zhang Wenbing to discuss deepening economic and trade co-operation, strengthening collaboration in innovation and technology (I&T), and supporting enterprises in their international expansion.

Mr Chan noted that the visit strengthened ties with the Jiangsu Provincial Government, universities, I&T institutions and enterprises, adding that Hong Kong will actively follow up on various co-operation projects to deliver more concrete results in Jiangsu-Hong Kong collaboration.

The delegation then visited a Jiangsu-based energy and energy-saving equipment enterprise to learn about its technology research and development (R&D), commercialisation of its research outcomes and its business development. They also toured a pharmaceutical company to examine its drug R&D, production methods and global marketing operations.

During the visits, Mr Chan emphasised that I&T remains a key area of co-operation between Jiangsu and Hong Kong. He highlighted that both regions have ample scope for collaboration in technology R&D, the commercialisation of research outcomes and international market expansion.

He added that both regions can further promote two-way investment and talent exchanges to foster deeper industrial integration.

Turning to innovative drugs, Mr Chan explained that enterprises can leverage Hong Kong's strengths in drug R&D and its reformed drug approval regime to accelerate market expansion.

The Financial Secretary encouraged both businesses to utilise Hong Kong's internationally connected capital markets, experience in meeting the highest international standards, high-quality professional services, and strengths as an international financial and talent hub to scale up in overseas markets.

The Financial Services & the Treasury Bureau today welcomed the inaugural issuance of insurance-linked securities (ILS) in the form of a “sidecar” by the PICC Property & Casualty Company (PICC P&C) in Hong Kong.

With a size of US$12 million, equivalent to about HK$94 million, the “sidecar” issuance provides quota share reinsurance protection for offshore windfarm property insurance businesses on the Chinese Mainland.

Secretary for Financial Services & the Treasury Christopher Hui said: “We welcome PICC P&C’s issuance of Hong Kong’s first ‘sidecar’. This demonstrates Hong Kong’s combined strengths in reinsurance and capital markets.”

“The issuance marks significant progress gained for Hong Kong’s insurance industry and capital markets in risk transfer and the use of alternative capital under the support of our country. It will further enhance the market’s capacity to manage catastrophe and other specialty risks, and consolidate Hong Kong’s position as an international risk management centre,” Mr Hui added.

The financial services chief pointed out that Hong Kong’s First Five-Year Plan has proposed fully leveraging Hong Kong’s competitive edge in the international insurance, reinsurance, and capital markets, to advance the synergised development of traditional insurance and non-traditional risk management tools.

“This will enable us to unleash the synergy effect of multilayered risk transfer and pooling mechanisms through ILS and other tools, thus consolidating our strategic role as a regional and global catastrophe and specialty risk management hub,” he said.

Ultimately, the proposal aims to support the National 15th Five-Year Plan which identifies the enhancement of the catastrophe risk protection framework and risk-pooling mechanisms as a key task.

“ILS and captive insurance, which we have long been promoting, can provide enterprises ‘going global’ with diversified means of spreading and managing risks," Mr Hui added.

“We expect this combination of financial policy measures will allow enterprises to leverage Hong Kong as a safe haven for 'going global' with greater ease of mind.” 

On the second day of a visit to Nanjing, Financial Secretary Paul Chan met Jiangsu provincial leaders and business representatives, attended a conference promoting support for enterprises in “going global”, and visited a platform for the commercialisation of research outcomes.

The visit by Mr Chan and his delegation aims to deepen co-operation between Jiangsu and Hong Kong, and support Mainland enterprises in leveraging Hong Kong to expand their global business.

In the morning, the finance chief attended a conference themed “Jiangsu-Hong Kong Partnership: Setting Sail Together”.

Addressing attendees, he highlighted that this year marks the beginning of the National 15th Five-Year Plan. Through closer co-operation, he remarked, Jiangsu and Hong Kong can seize the opportunities arising from the country’s pursuit of high-level opening up and translate these into tangible results for enterprises expanding into international markets.

He urged Jiangsu enterprises to use Hong Kong as a base for planning their global expansion.

Mr Chan also stressed that Jiangsu and Hong Kong enjoy a solid foundation of co-operation. Hong Kong is both Jiangsu’s largest source of foreign investment and its largest destination for outward investment. As of the end of September, 129 Jiangsu enterprises with a combined market capitalisation of about $1.44 trillion, were listed in Hong Kong.

The Financial Secretary said the two places have a sound basis for co-operation, with ample scope for further collaboration in innovation-driven development and expansion into international markets.

Mr Chan iterated that Hong Kong’s strengths extend beyond stock market listings and fundraising to its high concentration of international capital, financial institutions and professional talent. He said that enterprises can connect with international investors and partners through Hong Kong, broadening their financing channels to support business development at different stages.

On talent and innovation and technology (I&T), Mr Chan highlighted that the Hong Kong Special Administrative Region Government is taking forward the development of the Northern Metropolis and university towns.

He outlined that these projects aim to bring together quality education and research resources from Hong Kong, the Mainland and overseas to foster the co-ordinated development of education, technology, talent and industries, and to accelerate the commercialisation of research outcomes.

He invited Jiangsu enterprises to visit the Northern Metropolis to explore co-operation opportunities.

Mr Chan elaborated that, in attracting enterprises and nurturing industries, the Hong Kong SAR Government looks not only at the scale of investments, but also at enterprises’ technological capabilities, capacity for innovation, and long-term contributions to Hong Kong’s I&T ecosystem and talent development.

He added that the Hong Kong SAR Government is keen to explore investment co-operation with enterprises that are aligned with Hong Kong’s future development priorities, and to offer support on land, taxation and other areas.

He expressed the hope of building long-term partnerships with Jiangsu enterprises and supporting more Mainland enterprises in becoming multinational corporations that have global influence and bring Chinese technologies, products and solutions to markets around the world.

Mr Chan also held a breakfast meeting with a group of young Jiangsu entrepreneurs to exchange views on business development and co-operation opportunities between the two places.

In addition, he attended a sharing session with Hong Kong business people and enterprises in Jiangsu to learn about their business development in the province.

In the afternoon, the delegation visited the National Regional Technology Transfer & Transformation Centre for Higher Education Institutions (Jiangsu) to learn about its work in promoting the transfer and commercialisation of university research outcomes, matching these with the needs of enterprises, and fostering industry-academia-research collaboration.

The delegation met officials and representatives from the centre and from Nanjing’s Jiangbei New Area, as well as representatives of local industries and enterprises.

They discussed promoting two-way co-operation between Jiangsu and Hong Kong, and establishing more regular mechanisms for I&T collaboration.

At the meeting, Mr Chan urged Jiangsu and Hong Kong to strengthen connections among science and technology parks, universities, enterprises, investment institutions and the professional services sector, facilitate talent exchanges, and bring more promising research projects to fruition.

In the evening, Mr Chan called on Governor of Jiangsu Province Liu Xiaotao. They discussed deepening economic and trade co-operation between Jiangsu and Hong Kong, connecting innovation and industrial resources, and jointly supporting enterprises in expanding into overseas markets.

Financial Secretary Paul Chan today began his visit to Nanjing with a delegation of about 30 members by delivering a keynote speech at Nanjing University, introducing new directions for Hong Kong's economic development and outlining specific areas for co-operation among Hong Kong, Jiangsu and Nanjing.

In his speech, Mr Chan pointed out that artificial intelligence (AI) is reducing search and transaction costs, driving enterprises to redesign their operational processes and giving rise to new business models.

He noted that the country's comprehensive manufacturing system and wide range of application scenarios provide ample scope for validating and continuously improving new technologies.

He highlighted that Hong Kong can leverage its strengths in finance, innovation and technology (I&T), professional services and international connectivity to complement the strong industrial foundations of Nanjing and Jiangsu, jointly promoting the commercialisation of research outcomes and industrial development.

Mr Chan said that Hong Kong can deepen co-operation with Jiangsu and Nanjing in two areas: supporting enterprises in going global and strengthening industrial collaboration.

“Hong Kong's financial and professional services can support enterprises as they plan their expansion into overseas markets, covering financing, intellectual property strategies, product certification, alignment with standards, corporate governance, compliance and risk management, talent and treasury management.

“Enterprises can also establish international or regional headquarters in Hong Kong to attract talent and co-ordinate their overseas operations, while collaborating with universities, international research teams and enterprises in the city.”

On the industrial collaboration front, Mr Chan said that Nanjing's strengths in the software industry can be combined with Hong Kong's research and development (R&D) capabilities and international networks to jointly develop industrial software, AI agents for enterprises and robots to meet business needs.

“The two cities can also pursue joint R&D, clinical validation, patent licensing and international business collaboration in life and health sciences. In addition, they can jointly develop and validate green technologies for urban energy conservation, energy storage management and energy dispatch, and leverage Hong Kong to expand into overseas markets,” he added.

The Financial Secretary encouraged Nanjing University students to build a solid foundation in their disciplines and develop AI literacy. Through interdisciplinary learning and making good use of research collaboration and talent exchange opportunities between the two cities, they can develop a broad range of capabilities through practical experience, serve as a bridge between Nanjing and Hong Kong, and help bring more of the country's research outcomes to the world.

The delegation held a discussion with university representatives and representatives of a number of enterprises founded by Nanjing University alumni. Innovative enterprises from both cities in fields including AI, photonic chips, biotechnology, advanced manufacturing and new energy introduced their businesses.

Participants explored opportunities for co-operation and ways to connect industry with capital.

Mr Chan said that Hong Kong's unique institutional advantages under “one country, two systems”, together with its deep pool of capital, comprehensive professional services, extensive international networks and diverse talent pool, enable the city to provide all-round support for Mainland I&T enterprises in accessing international markets and expanding their global operations.

The delegation also visited Nanjing University's Brain-Computer Interface Institute. The institute seeks to achieve breakthroughs in key technologies for non-invasive brain-computer interfaces and its research covers the diagnosis and treatment of brain diseases and rehabilitation.

In the evening, Mr Chan called on CPC Nanjing Municipal Committee Secretary Zhou Hongbo and Nanjing Mayor Li Zhongjun to exchange views on deepening co-operation between Hong Kong and Nanjing in economic affairs and trade, finance and I&T.

Financial Secretary Paul Chan will depart for Nanjing tomorrow morning to promote Hong Kong’s unique advantages as an international platform for Mainland enterprises. The delegation includes representatives from public organisations, innovation and technology (I&T) parks and professional bodies, as well as various business sectors.

On October 13, the delegation will attend a promotion conference in Nanjing themed “Jiangsu-Hong Kong Partnership: Setting Sail Together”. A series of business-matching and promotional activities will showcase how Hong Kong’s diverse financial and professional services can support overseas expansion.

The delegation will also highlight Hong Kong’s I&T ecosystem to foster resource matching and explore co-operation in technology research and development (R&D). To exchange experiences, members will visit local technology transfer institutions alongside green technology and biotechnology enterprises in Jiangsu Province.

During his stay in Nanjing, Mr Chan will deliver a keynote speech at Nanjing University and visit its frontier technology research institutes. He will also meet Hong Kong business people and residents living in Jiangsu to learn about their daily lives and business operations.

Furthermore, the finance chief will meet leaders of Jiangsu Province and Nanjing City to discuss strengthening economic, trade and I&T co-operation. Mr Chan will return to Hong Kong on Wednesday afternoon, during which time Deputy Financial Secretary Michael Wong will act as Financial Secretary.

Agentic artificial intelligence (AI) is revolutionising the way entrepreneurs operate.

Jeffrey Yang, formerly a construction tech entrepreneur from Shanghai, moved to Hong Kong to pursue a doctorate in real estate and construction. When he saw how many of the city’s buildings were ageing, he set out to create an AI platform to make building management more efficient.

“We typically use panoramic cameras and drones to detect building issues like exterior wall cracks or water leakage,” Mr Yang explained. He pointed out that Hong Kong has more than 20,000 buildings over 30 years old, a factor that makes manual analysis both manpower- and resource-intensive.

"I have trained the AI on mandatory repair notices and regulations so it helps identify issues. Through the platform, building owners can understand their building’s condition well in advance and meet compliance requirements after repairs."

One-person results 

Traditional business ventures, regardless of their scale, often require hiring staff, leasing premises and developing complex systems, usually requiring at least 10 people to get things off the ground.

However, by joining Cyberport’s OPC (one-person company) Hub – an incubator designed specifically for one-person companies – Mr Yang is bringing his visions to life with just one person and a single computer. He said the Government’s free spatial data has provided a significant advantage, drastically reducing the costs and difficulties typically associated with data collection.

"I need to build city-scale spatial scenes in the early stages. Few cities worldwide offer open 3D spatial data, but with Hong Kong’s recent 3D photography publicly available, I am able to use a large amount of open data."

Every day, Mr Yang develops his platform within the co-working space of the OPC Hub. He manages a suite of AI agents, each handling a different task – from data analysis and building inspections to repair co-ordination and equipment maintenance.

Empowering innovation

Since its launch in July this year, the OPC Hub has received over 40 applications, with more than 30 companies already approved to join.

These companies span various sectors, including proptech, creative design, financial trading, education and cybersecurity. The talent pool is evenly split, with local entrepreneurs making up roughly half the cohort, and Mainland and overseas talent comprising the remainder.

"OPC could be a small team of one to 10. Whether pursued full-time or part-time, it is easy to test ideas and the cost of trial and error is very low,” explained Cyberport Chief Executive Officer Rocky Cheng, who noted that OPCs benefit from low overhead and rapid startup times.

“A small handful of people can now drive 10, dozens or even hundreds of AI agents to assist with product design, website development, marketing, data analysis, financial management and customer service."

He said that as long as the founders identify pain points or come up with innovative ideas that are well-received in the market, investors will take notice because investing at this stage is more cost-effective.

Beyond standard support, such as entrepreneurship training, business and investor matching, and professional services, the OPC Hub also provides AI technology facilitators, including discounted tokens, computing power, cloud services and cybersecurity consultations. This comprehensive support helps founders prioritise data privacy, permissions and AI security from the outset, enabling them to turn their concepts into market-trusted solutions.

Mr Cheng said this entrepreneurial trend is already taking off in the Mainland, and he believes it is set to experience similar growth in Hong Kong.

The Government has entered into a market agreement with 45 insurers to extend the coverage of mandatory motor and employees' compensation insurance policies to the Huanggang Port Hong Kong Port Area (HKPA), backdated to July 31.

The official opening of the Huanggang Port is scheduled for Monday.

The Financial Services & the Treasury Bureau has signed market agreement with individual insurers, expanding the geographical scope of the mandatory motor and employees' compensation insurance policies to cover the HKPA without incurring any extra cost to policyholders.

The bureau said its collaboration with the Insurance Authority (IA) and the insurance industry eliminates potential public confusion prior to the opening of the HKPA.

It added that the arrangement is beneficial in ensuring policyholders' continuous compliance with the mandatory insurance requirements while minimising the administrative burden on stakeholders.

The Huanggang Port Hong Kong Port Area Ordinance came into operation on July 31.

As private contracts, insurance policies were not automatically extended to cover the HKPA upon commencement of the ordinance. The Government therefore took the initiative to negotiate with the insurance industry and AI to extend policy coverage, similar to the arrangements made in 2007 in relation to the Shenzhen Bay Port Hong Kong Port Area.

Click here for the details of the market agreement and the list of insurers.

The Communications Authority today announced the start of a two-month public consultation on the renewal of audio broadcasting licences.

The licences of Hong Kong Commercial Broadcasting Company Limited and Metro Broadcast Corporation Limited are due to expire on August 25, 2028 and the two organisations have submitted licence renewal applications to the authority.

In accordance with requirements under the Telecommunications Ordinance and established procedures, the authority will carry out an assessment of the licensees' past performance and collect public views through various means. This includes launching a two-month public consultation, an opinion survey, an online public hearing and focus group discussions.

The authority said it will take into account the licensees' past performance and renewal proposals, views in the sector and among public, and the latest industry developments, and will make recommendations on the renewal applications to the Chief Executive in Council by May next year.

Members of the public can submit their views by email, by fax to 2507 2219, or by mail to Office of the Communications Authority (Attn: Broadcasting Section 33), 20/F, Wu Chung House, 213 Queen's Road East, Wan Chai, Hong Kong.

They can also participate in an online public hearing due to be held on November 7.

The public consultation will end on December 6.

The Fraser Institute’s Economic Freedom of the World 2026 Annual Report has once again ranked Hong Kong as the world's freest economy. Among the five areas of assessment in the report, the city maintained its top position in "Freedom to trade internationally" and secured second place in "Regulation".

The Hong Kong Special Administrative Region Government noted that the report reaffirmed Hong Kong's strengths as a free-market economy, alongside its open, efficient and fair business environment.

Amid growing economic uncertainties and rising trade protectionism, Hong Kong remains firmly committed to maintaining its free port status, zero-tariff policy and simple, low tax regime. These factors provide a secure, stable, fair, predictable and internationalised business and investment environment for entrepreneurs and investors worldwide.

The Hong Kong SAR Government added that as the country remains committed to high-standard, two-way opening up and continues to achieve breakthroughs in technological innovation, it serves as a major stabilising force and driving engine for global economic growth. Under the “one country, two systems” framework, Hong Kong enjoys the strong support of the motherland while maintaining close connections with the rest of the world.

While offering convenient access to both the Mainland and international markets, Hong Kong continues to practise common law in both Chinese and English. It also provides financial, shipping, trading and professional services that align seamlessly with international best standards, supported by an efficient government structure and a clean, professional civil service.

The Hong Kong SAR Government pointed out that these unique strengths enable Hong Kong to fully leverage its roles as a super connector and super value-adder, making it the premier gateway for Mainland enterprises to enter international markets and vice versa.

So far this year, Hong Kong has continued to scale new heights across various international competitiveness rankings spanning finance, innovation and technology, education and talent. This reflects wide recognition by the international community of Hong Kong's core strengths and the Hong Kong SAR Government's efforts to promote high-quality social and economic development.

Looking ahead, with the staunch support of the country, the Hong Kong SAR Government will continue to work alongside all sectors of the community to further enhance Hong Kong's roles as "four centres and one hub". It will accelerate the development of the Northern Metropolis to inject stronger impetus into social and economic growth, open up broader development prospects for local enterprises and the public while providing greater opportunities for enterprises, investors and talent worldwide.

Chief Secretary Chan Kwok-ki today chaired the seventh meeting of the fourth-term Human Resources Planning Commission, with members acknowledging that the youth unemployment situation warrants attention.

The meeting heard that rising unemployment and the youth employment situation are structural challenges faced by most advanced economies worldwide, Hong Kong being no exception.

Members took note that the Government continues to invest heavily in education and skills training for the local workforce. This includes launching a two-year 30,000 Youth Employment & Internship Programme, as announced in the Policy Address, to facilitate youth employment and development. 

The Labour Department will also launch the Youth Employment Link online service portal to facilitate young people's access to employment information and support services. Looking ahead, the continued expansion of the local economy is expected to underpin overall labour market conditions.

The Labour & Welfare Bureau also briefed the meeting on the "Mid-term Update of Manpower Projection" report. Members heard that the Government will continue to promote "AI for All" and support lifelong learning, ensuring that skills in the labour force remain aligned with Hong Kong's future economy.

The bureau will commence a new review of the Talent List soon.

Members said they supported the Government in continuing to closely monitor the labour market and in formulating and refining forward-looking policies on a rolling basis, with a view to maintaining manpower supply in support of economic development, whilst also safeguarding employment priority for local workers.