The Government today welcomed the passage, by the Legislative Council, of the Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions & Allowances) Bill 2026, which allows implementation of the concessionary tax measures proposed in the 2025 Policy Address and the 2026-27 Budget. 

The legislation will be published in the Government Gazette on May 22.

The measures include increasing the basic allowance, the married person’s allowance, the single parent allowance, the basic and additional child allowance, and the basic and additional allowance for dependent parents/grandparents, as well as raising the deduction ceiling for elderly residential care expenses and extending the claim period for additional child allowance for newborns starting from the year of assessment 2026-27. About 2.09 million taxpayers will benefit, reducing tax revenue by about $5.51 billion per year.

A one-off 100% reduction of salaries tax, tax under personal assessment and profits tax for the year of assessment 2025-26 will also be granted, subject to a ceiling of $3,000 per case. This is expected to benefit about 2.12 million taxpayers and 170,000 businesses, with about 24% of the former and 18% of the latter not needing to pay tax for the year of assessment 2025-26. Government revenue will be reduced by about $5.78 billion.

The one-off tax concessions, increased allowances and deduction ceilings will be reflected in taxpayers’ final tax payable for the year of assessment 2025-26 and tax payable for the year of assessment 2026-27.

The Inter-departmental Task Force on Monitoring Fuel Supply today announced that the Government will waive 50% of the toll for commercial vehicles using government tolled tunnels, and the Tsing Sha Control Area, from May 17 to July 16.

Commercial vehicles include buses, goods vehicles, light buses and taxis registered with the Transport Department. Private cars and motorcycles are not eligible for the waiver.

The two-month measure aims to alleviate operating costs for commercial vehicles, and to assist drivers and operators in coping with rising fuel prices, the task force explained.

The department said it has steered the toll service provider to adjust the HKeToll system. Commercial vehicle owners only need to pay the reduced amount, as displayed via the system. Payment methods and time limits remain unchanged.

Separately, taxi passengers are reminded that they must continue to pay statutory tolls in full during the waiver period. Placards will be displayed in taxi compartments regarding the tolls. 

The Lands Department today announced that the tender for a site at Po Hong Road, Tseung Kwan O has been awarded on a 12-year land grant at a premium of $36,386,000.

Tseung Kwan O Town Lot No. 137 was awarded to Sinopec (Hong Kong) Petrol Filling Station Company, a subsidiary of Sinopec (Hong Kong) Petroleum Holding Company.

It has a site area of about 2,640 sq m and is designated for electric vehicle charging station purposes.

The Government today invited public views on the proposed outline of the combined fourth and fifth reports under the United Nations Convention on the Rights of Persons with Disabilities (UNCRPD).

The Labour & Welfare Bureau said the reports will update the United Nations on Hong Kong’s implementation of the UNCRPD since the previous submission. They will also address concerns and recommendations raised by the United Nations Committee on the Rights of Persons with Disabilities in its 2022 Concluding Observations.

Once finalised, the reports will be submitted to the central government for incorporation into its periodic reports to the United Nations.

The consultation period will run until June 30.

Chief Secretary Chan Kwok-ki and Under Secretary for Home & Youth Affairs Clarence Leung were in Ruijin, Jiangxi today to attend a launch ceremony for the Long March exchange, which involves youths from Hong Kong and Macau.

Mr Chan stated that the Hong Kong Special Administrative Region Government has always attached great importance to patriotic education.

He said: “In particular, we actively encourage young people to participate in exchange activities on the Mainland to fully understand the country's history, culture and latest achievements.

“The Long March holds great significance in the nation's development history. We hope that young people can gain an in-depth understanding of its history, learn from its spirit of perseverance and solidarity, and grow into a new generation with an affection for the country and for Hong Kong that is equipped with global perspectives. They should seize the immense opportunities arising from our country's new journey and proactively integrate into and contribute to the overall national development.”

In Ruijin, Mr Chan and Mr Leung also visited the Yeping Revolutionary Sites and the Central Revolutionary Base Area History Museum. These landmarks bear witness to the dedication and sacrifices of the country’s revolutionary forebears.

Mr Chan expressed a wish to strengthen co-operation with Jiangxi in the area of patriotic education and to arrange further exchange activities that allow young people from Hong Kong to visit historical sites, thereby strengthening their identification with Chinese culture and cultivating their sense of national identity.

About 120 youths from Hong Kong and Macau, along with Mainland youths, visited Ganzhou, Jiangxi, from May 8 to 11. They toured memorial museums and historical sites related to the Long March, and visited local research institutes, enterprises and heritage sites.

Mr Chan was due to depart for Hong Kong this afternoon.

Good morning. It is a pleasure to join you, once again, for the opening of the Asia Summit on Global Health, the sixth edition.

You represent the full spectrum of the global health community. That includes medical professionals and government officials, also representatives of multinational pharmaceutical and health-tech enterprises, investors and entrepreneurs.

Your presence here in Hong Kong underscores a simple but powerful truth: in an age of complex health challenges, progress is powered by collaboration.

This summit makes collaboration easy, with more than 90 high-profile speakers from 15 countries and regions. They include Nobel Prize Laureate in Chemistry Prof Michael Levitt, who will speak at the Dialogue with Global Pioneer in Health session. And count on the latest medical developments and research, together with wide-ranging opportunities for networking and creative partnerships that make all the difference.

Your expertise and contributions are desperately needed. Today's world grapples with profound health challenges, with new threats continually emerging. We also face the pressing realities of ageing populations. There is the silent crisis of antimicrobial resistance. And there are persistent inequities in healthcare access – both regional and global.

That makes the theme of this year's summit, “Fuelling Healthcare Breakthroughs”, particularly relevant. The two-day programme highlights three key areas:

First, China opportunities in aligning with the 15th Five-Year Plan's health priorities. This includes innovative drug access, modernisation of traditional Chinese medicine, silver health, and the outbound expansion of Chinese pharmaceutical companies.

Second, frontier technologies. The programme covers global healthcare trends, breakthroughs in artificial intelligence (AI) and digital health, medical robotics and devices, and gene and cell therapies.

Third, health innovation and investment trends. You will see pitching sessions for startups. You will also find deal-making sessions that connect projects with capital.

Clinical collaboration with the Mainland

Let me now outline how Hong Kong, under the “one country, two systems” principle, is investing in healthcare and, in doing so, investing in the future of our people and our economy.

Our status as a leading hub for scientific innovation is unrivalled in Asia. And our strengths are magnified by our core position in the Guangdong-Hong Kong-Macao Greater Bay Area. That is the cluster city development integrating 11 dynamic cities in southern China. It boasts a collective economy that rivals that of the world's 10th-largest nation.

In pursuit of medical innovation, Hong Kong complements the strategies set out in the National 15th Five-Year Plan. The plan optimises an evaluation and approval mechanism for innovative drugs and supports their clinical application. The goal is to develop Hong Kong into a health and medical innovation hub.

Central to this ambition is the rapid expansion of our clinical trial capabilities, the vital engine that drives biomedical research and development (R&D) from the laboratory to the bedside.

That is anchored by the Greater Bay Area International Clinical Trial Institute. It is wholly government-owned and operated by the University of Hong Kong's medical faculty. It is located in the Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone.

The institute operates alongside its Shenzhen counterpart under an integrated “one institute, one centre” model. Together, they draw on the Greater Bay Area's combined population of more than 87 million, co-ordinating multi-centre, cross-boundary clinical trials. These trials meet both national and international standards.

By streamlining cross-boundary trials, the institute serves as a one-stop agency for medical R&D institutions worldwide. It accelerates the delivery of life-changing medical technologies to patients.

Last December, we launched the Greater Bay Area Clinical Trial Collaboration Platform. We also set up the Real-World Study & Application Centre. Both deepen our co-operation with Mainland partners.

The collaboration platform offers expert consultation on medicine, statistics, regulatory affairs and ethics. The application centre uses Hong Kong's medical data advantages to generate real-world evidence. This supports drug and device registration in Hong Kong and on the Mainland.

Drug and medical device regulation

We are also enhancing our drug and medical device regulatory regime. Our “1+” mechanism for new drugs' registration expedites patient access to life-saving therapies.

It allows new drugs to be registered in Hong Kong after approval from just one recognised reference authority – instead of the traditional two. Supporting local clinical data is required, of course.

This year is transformative for our regulatory landscape. In March, we began the phased implementation of “primary evaluation” for new drugs registration. That marks a milestone in our transition to a fully independent drug evaluation framework. We aim for full implementation by 2030.

I am also pleased to announce that the Hong Kong Centre for Medical Products Regulation will be established by year's end. That will put Hong Kong on the map as a trusted hub for regulatory excellence.

Innovation research

InnoHK, our flagship innovation and technology initiative, was launched to develop Hong Kong into a global research collaboration hub. And to date, two InnoHK research clusters have collaborated with more than 30 world-renowned universities and research institutes from 12 economies.

They pool more than 3,000 researchers worldwide. Sixteen of the research centres focus on healthcare-related technologies – biomedicine, chemistry, engineering and AI.

We are also establishing the Life & Health Technology Research Institute. It will be located at the Hong Kong-Shenzhen Innovation and Technology Park, with three branches to be established by local universities. We expect to complete the preparatory work this year.

We are strengthening the bridge between laboratories and the market through the Research, Academic & Industry Sectors One-plus Scheme, with funding of HK$10 billion, which is US$1.3 billion, allowing money to channel more support to local university research teams. We are focused on those with good potential to become successful startups, commercialising their R&D outcomes.

Health tech downstream industry

Downstream industry is central to supporting a thriving life and health technology sector. That is why we have launched the New Industrialisation Acceleration Scheme, also with funding of HK$10 billion; that is US$1.3 billion.

It helps companies in life and health technology and other strategic fields to establish high-end smart production facilities in Hong Kong. To date, we have supported two enterprises focusing on pharmaceuticals and medical devices, with a total project cost of over US$120 million.

Another HK$10 billion, or US$1.3 billion, the Innovation & Technology Industry-Oriented Fund, will also be launched this year. It will encourage market capital to invest in five thematic areas, life and health technology among them.

We have long supported the University Grants Committee's eight funded universities. They carry out academic research in wide-ranging disciplines, including health and medicine. In the 2025-26 academic year, more than 200 research projects in medicine and biology received government support. Total funding exceeded US$32 million.

We are also nurturing PhD and postdoctoral talent. Publicly funded research postgraduate places grew from about 5,600 to 7,200 in two years, up to 2024-25; the increase is 28%. Places under the Hong Kong PhD Fellowship Scheme also rose by a third.

Ladies and gentlemen, Hong Kong is committed to medical innovation. We have established vital infrastructure and productive policies. We have also created a dynamic network that turns research into tangible solutions.

True innovation requires deep collaboration and strategic partnerships that span the world and every sector of our industry. Through your interactions over the next two days, we may begin to unlock the next great breakthroughs in medicine and biotechnology.

Chief Executive John Lee gave these remarks at the Asia Summit on Global Health on May 11.

The Labour Department will hold an industry-based job fair titled “Embarking on a New Journey” at MacPherson Stadium in Mong Kok on May 12 and 13 featuring more than 2,700 vacancies.

Over 60 organisations will participate, with around 30 booths set up each day. The event will primarily focus on catering, retail, construction and hotel industries, which together account for more than 2,500 of the available openings.

A wide variety of positions are on offer, ranging from technical roles like duty engineer, electrician and safety supervisor to service-oriented jobs such as cook, guest services officer and shop supervisor.

Approximately 79% of the vacancies are full-time positions, with most offering monthly salaries between $13,000 to $24,000. About 95% of the roles require an education level of Secondary 7 or below, and 54% are open to those without relevant work experience.

Job seekers can submit applications and may be invited for on on-the-spot interviews. Department staff will also be able available at a dedicated counter to handle enquiries regarding employment services.

The fair will run from 11am to 5.30pm at 1/F, MacPherson Stadium, 38 Nelson Street. Admission is free, with the last entry at 5pm daily.

The Security Bureau today said it was notified by Guangdong Province's Nuclear Emergency Committee Office of an operational event at Ling Ao Nuclear Power Station, in which an isolation valve remained closed longer than required.

This incident did not affect the safety of the power station’s Unit 1, the health of the workers, the nearby public or the environment, the bureau added.

On May 7, Unit 1 was undergoing a planned overhaul for refuelling. During routine testing, station staff remotely closed one of the cooling water isolation valves of the standby equipment from the main control room to adjust the cooling water flow, and restored it to normal status on the same day.

Since the isolation valve remained closed for a duration exceeding the requirement of the technical specification, this event was classified as a Level 0 deviation on May 8 in accordance with the International Nuclear & Radiological Event Scale and relevant nuclear safety regulations. 

The bureau stressed that Unit 1 remained in a safe condition throughout the event, while the three safety barriers remained intact and there was no release of radioactive substances.

In 2025, the Food & Environmental Hygiene Department (FEHD) cracked a case of illegal goat slaughtering. The premises involved were located in a remote rural area and concealed from view. Accordingly, a key factor in foiling the perpetrators was the use of aerial intelligence.

Officers used drones to capture footage, then cross-referenced this with aerial photographs taken by the Lands Department. This allowed them to identify suspicious locations.

The FEHD outlined that using drones to collect evidence reduces the need for manned patrols, boosts efforts to combat illegal slaughtering activities, illegal meat distribution centres and unlicensed food premises, and improves staff safety.

Expanded capabilities

Explaining the limitations of traditional methods, Food & Environmental Hygiene Department Senior Superintendent (Operations) Lo Chi-man remarked: “Relying solely on manpower-based patrols, plain-clothes operatives could only conduct surveillance in the vicinity of the target premises. Operatives also faced significant safety risks such as potential violence, aggressive dogs and structural hazards.”

After the introduction of drones, however, intelligence can now be gathered at high altitude, adopting a bird’s eye view. This allows operatives to clearly map entry or exit points, personnel distribution, suspicious vehicle locations and escape routes in advance.

Smart inspections

Beyond intelligence gathering, the FEHD has been working with the Electrical & Mechanical Services Department since 2025 to study the feasibility of using drones to support street cleanliness inspections.

Under planned trials, drones will conduct automated aerial patrols along pre-set routes in order to detect accumulated rubbish, overflowing litter bins and damaged refuse collection facilities. The captured images will then be analysed using artificial intelligence, enabling the FEHD to arrange timely follow-up actions.

Food & Environmental Hygiene Department Senior Superintendent (Innovation & Technology) Kuan Man-hou highlighted that street cleaning inspections largely depend on frontline staff making in-person site visits. Officers are required to carry out visual checks and take photos to record conditions. However, some locations are remote and transport can be inconvenient, so the trips are often time-consuming.

With the automated inspection system, however, the FEHD will be able to analyse street cleanliness more quickly and accurately, enabling more effective deployment of manpower and resources.

Drone docking stations are expected to be installed on top of public toilets managed by the FEHD, serving as bases for take-off, landing and charging. The team revealed that flight tests for the project will commence soon.

Phased trials

Electrical & Mechanical Services Department Senior Engineer (Drones, Robotics & Automation) Vanessa Yau said her team is applying to the Civil Aviation Department for operational approvals.

”The trials will be conducted in two main stages. In the first stage, flights under visual line of sight and extended visual line of sight will be tested. Once stable performance is achieved, beyond-visual-line-of-sight operations will be tested for fully automated aerial patrols.”

Chief Secretary Chan Kwok-ki will depart for a visit to Jiangxi tomorrow morning to attend the launch ceremony of the Long March exchange activity series for Hong Kong and Macao youth in Ruijin city on Monday.

Mr Chan will return to Hong Kong on Monday afternoon. During his absence, Deputy Chief Secretary Cheuk Wing-hing will be Acting Chief Secretary.

The Government today announced the successful pricing of approximately HK$27.6 billion worth of green bonds and infrastructure bonds under its Sustainable Bond Programme and Infrastructure Bond Programme.

Denominated in Hong Kong dollars, renminbi (RMB), US dollars and euros, the bonds are expected to be settled on May 14. They will be listed on the Hong Kong Stock Exchange and the London Stock Exchange.

The Monetary Authority noted that the bonds were priced yesterday following a virtual roadshow.

The bonds have been assigned credit ratings of AA- by Fitch, Aa3 by Moody’s and AA+ by S&P Global Ratings.

The infrastructure bonds include a HK$3 billion 30-year tranche at 3.95%, an RMB6 billion 20-year tranche at 2.6%, an RMB6 billion 30-year tranche at 2.7%, and a US$500 million 5-year tranche at 4.052%.

A EUR750 million 8-year green tranche at 3.119% was also issued.

The offering attracted a wide spectrum of investors from more than 30 markets across Asia, Europe, the Middle East and the Americas. It drew approximately HK$239 billion in orders, representing a subscription ratio of about 8.6 times. 

Financial Secretary Paul Chan said the Government has continued to issue longer-tenor HK-dollar and RMB bonds to meet institutional demand and foster the development of fixed income and currency markets.

“Issuance of RMB bonds will further enrich offshore RMB product offerings, improve the offshore RMB yield curve and promote RMB internationalisation,” Mr Chan said.

“The enthusiastic response from global institutional investors to the subscription reflects their confidence in the development prospects of Hong Kong,” he added.

From May 21 to 29, residents of the seven fire-affected blocks at Wang Fuk Court in Tai Po will be given the chance return once again to their units, in batches, to collect personal belongings, the Government announced today.

Access arrangements will be broadly similar to those previously implemented. On a staggered basis, 10 floors at a time will be opened within each block, starting from the lower floors. Residents will be able to return to their respective units at the time arranged for them.

Residents of Wang Yan House, Wang Sun House and Wang Tai House will be able to return on May 21, 22 and 23. Those of Wang Kin House and Wan Cheong House will be able to return on May 24, 25 and 26. May 27 to 29 are allocated for residents of Wang Tao House and Wang Shing House.

Morning sessions will run from 9am to 1pm, and afternoon sessions from 2.30pm to 6.30pm. Four residents per unit will be able to enter their building at a time. Residents will be able to stay for up to three hours and make multiple trips.

Under the “one social worker per household” arrangement, social workers will notify households of their allocated timeslots, and assist with pre-registration.

On access days, pre-registered individuals will be instructed to proceed to Kwong Fuk Community Hall to check in and collect safety gear before going to their units. 

The Global Mediation Summit, the first international conference organised by the International Organization for Mediation, or IOMed, was held at the Convention & Exhibition Centre today, with Chief Executive John Lee officiating.

Speaking at the event, Mr Lee noted that the National 15th Five-Year Plan has expressed support for IOMed, and emphasised that this backing ensures Hong Kong will play a key role in the peaceful resolution of international disputes through mediation in the long term.

“As IOMed’s headquarters, Hong Kong is at the very heart of global dispute resolution and its promising future,” Mr Lee said.

“The National 15th Five-Year Plan, I am pleased to note, has expressed support to IOMed. That ensures that Hong Kong will play a key role in the peaceful resolution of disputes by mediation, long down the road,” he added.

“Hong Kong will continue to build on our partnership with IOMed. Together, we will work to develop Hong Kong as a global mediation centre, and we invite governments, companies, investors and others to make optimal use of the mediation services provided by IOMed.”

Mr Lee also highlighted that since its inauguration last October, the number of signatory states to the IOMed Convention has climbed from 37 to 41, while the number of contracting states has risen from eight to 13.

The summit drew over 400 leaders, senior officials and professionals from 48 countries and regions to share their experience and insights on international mediation.

IOMed Governing Council Vice-chairperson Willy Bett noted that establishing the headquarters in Hong Kong significantly bolsters the trust of many countries.

“IOMed's positioning or location in Hong Kong, and the support the Hong Kong SAR and the People's Republic of China in general, has made IOMed gain confidence with many countries,” he said.

“And Hong Kong has a lot of experience in handling international matters. And therefore, even the location of Hong Kong in itself being at the heart of Asia and the Pacific, it puts it in a unique position to be a more central place to settle most of these disputes,” Mr Bett added.

Another speaker, International Centre for Settlement of Investment Disputes Conciliator Panel Member Wolf Von Kumberg, who is an independent arbitrator and mediator himself, said Hong Kong is well positioned to become a global mediation capital.

“For mediation to work, you have to ensure that the parties feel comfortable in going to a particular venue that is both stable and also is a safe place to go,” he noted.

“Hong Kong is very well placed because for decades, Hong Kong has been a commercial hub where investors could come from all over the world into a very stable environment,” he added.

“By putting a mediation institute here, it is a place that is recognised by global stakeholders to help them then to resolve these disputes.”

With the support of the Department of Justice and the Hong Kong International Legal Talents Training Academy as the key sponsors, the summit concludes Mediation Week 2026.

The event has explored international cross-cultural mediation, financial and investment dispute resolution and the development of a global mediation ecosystem.

The Development Bureau today announced that the Government, following approval by the Chief Executive, has appointed Jeffrey Lam to be Chairperson of the Board of Directors at the Hung Shui Kiu Industry Park Company.

The Government also appointed five official and five non-official members of the board.

The appointees will serve a three-year term starting from June 1.

The five official directors are the Secretary for Development, the Secretary for Financial Services & the Treasury, the Secretary for Commerce & Economic Development, the Secretary for Innovation, Technology & Industry, and the Secretary for Transport & Logistics.

The five non-official directors are Wingco Lo, Sunny Tan, Wai Chi-sing, Albert Wong and Kenneth Wong.

Secretary for Development Bernadette Linn remarked that Mr Lam is a veteran industrialist with extensive experience in public service and administrative management, and brings an extensive network in the industrial and commercial sectors.

“He will certainly be able to effectively lead the company in attracting high-value-added manufacturers to establish a foothold in Hung Shui Kiu, and bringing in technology, employment opportunities and economic output.”

Ms Linn highlighted that the non-official directors named have backgrounds and experience in new industries, innovation and technology, engineering and finance, and can help the company to draw on expertise from outside the Government. She added that the Government will participate directly in major decision-making by the company through the official directors.

“I firmly believe that, with Mr Lam’s leadership as well as the advice and insights of the other directors, the Hung Shui Kiu Industry Park Company will be able to formulate a forward-looking development positioning and strategy, whilst better integrating market forces with the adoption of public-private partnerships, so as to lay a solid foundation for the long-term development of the industry park.”

The Development Bureau will seek the Legislative Council's approval to inject $10 billion in equity into the company, and will also complete recruitment for a Chief Executive Officer as soon as possible, such that the company can start operating mid-year.

The Cheung Chau Climbing Carnival will be held at the football pitch at Pak Tai Temple Playground on Cheung Chau from noon to 6pm this Sunday.

Members of the public who are at least 1m tall can participate in a bun tower-climbing activity, which involves climbing the 14m-tall bun tower that is being used in the Bun Scrambling Competition. Professional coaches from the Hong Kong, China Mountaineering & Climbing Union will brief participants on climbing techniques and safety aspects.

Additionally, carnival attendees can make wishes at the Wishing Bun Tower, watch variety shows and play booth games.

The Bun Tower Climbing Team Relay will take place from 9am to noon on the same day, with teams from local tertiary institutions, government departments, public utilities and commercial and industrial organisations all competing. Visitors are invited to watch the action and cheer for the teams.

The Climbing Carnival and the Bun Tower Climbing Team Relay event are highlights of the 2026 Bun Carnival. For enquiries, call 2852 3220.

Welcome to Hong Kong, and the Global Mediation Summit of the IOMed – the International Organization for Mediation. Today's global gathering comes on the first anniversary of the signing ceremony for the Convention on the Establishment of the IOMed.

The inauguration of IOMed followed, last October, here in Hong Kong. That cheering event has placed much expectation and hope, worldwide, on the new institution and its promise of contributing to the peaceful settlement of international disputes through mediation – and doing so in line with the United Nations Charter.

I am pleased to note that, since last October's inauguration ceremony, the number of signatory states has climbed from 37 to 41, while the number of contracting states has gone from eight to 13.

In these perilous times, when global affairs have become increasingly complex and volatile, the pursuit of peace – and peaceful resolutions – is imperative. Which makes today's summit especially timely.

And it is a great pleasure to see more than 400 leaders, policymakers and distinguished professionals from 48 countries and regions gathered, here in Hong Kong, to share their invaluable experience and insights on international mediation.

Hong Kong has long supported mediation. Mediation echoes concord and co-existence, creating co-operation where there was conflict. Concord and co-existence are values deeply rooted in Chinese culture. They are indispensable for resolving disputes and restoring trust. They preserve relationships, encouraging meaningful co-operation between disputing parties.

Hong Kong is committed to becoming a global mediation capital, and we are well-positioned to do so.

Under “one country, two systems”, Hong Kong is a thriving hub for international finance, shipping and trade. We benefit from our country's strong support and the opportunities it gives us, while maintaining extensive international connectivity as a world city.

Indeed, the recent Global Financial Centres Index ranked Hong Kong third, globally, and first in fintech offerings, banking, finance and insurance, while claiming second place in investment management. And we topped the entire Asia-Pacific region.

Our status as a leading financial centre and global investment hub is reinforced by our robust rule of law and legal system, the cornerstone of our longstanding success.

Hong Kong is the only common law jurisdiction in China, our country. And our legal professionals are internationally acknowledged for their professionalism and integrity.

And now, as IOMed's headquarters, Hong Kong is at the very heart of global dispute resolution and its promising future.

The National 15th Five-Year Plan, I am pleased to note, has expressed support to IOMed. That ensures that Hong Kong will play a key role in the peaceful resolution of disputes by mediation, long down the road.

And I can assure you that Hong Kong will continue to build on our partnership with the International Organization for Mediation. Together, we will work to develop Hong Kong as a global mediation centre, and we invite governments, companies, investors and others to make optimal use of the mediation services provided by IOMed, right here in Hong Kong.

Our commitment to mediation, locally and globally, is clear in the five-day Mediation Week programme that ends today with this summit. Mediation Week events spotlighted disputes related to schools, sports, neighbourhoods and the elderly. The goal in each case was to apply mediation structure and skills to achieve peaceful and rational solutions to our problems.

And that, ladies and gentlemen, is exactly what today's world, fraught with geopolitical tensions and disorder, is desperately in need of.

I wish you all a rewarding Global Mediation Summit and a memorable stay in Hong Kong, Asia's world city. And soon enough, the world's mediation city.

Chief Executive John Lee gave these remarks at the Global Mediation Summit on May 8.

The Labour Department announced today that it will stage Launch Your Career, a special programme for secondary school leavers who intend to enter the job market. It will run from this month until August.

Through an array of pre-employment training and employment services, the programme aims to help school leavers obtain employment information, plan their careers and enhance their employability. It is expected to attract about 13,000 participants.

Secondary school leavers can browse job vacancies on the scheme's webpage, where they can also find detail of recruitment days under the Youth Employment & Training Programme, recruitment days held at the Labour Department’s job centres, and large-scale job fairs.

With a view to enhancing school leavers' job interview skills and building their work ethic, the department’s Youth Employment Start support centres in Mong Kok and Kwai Fong will organise practical training courses through the Career Fresh Up programme. Career assessments and consultations will also be provided.

The department added that secondary school leavers opting to enter the employment market are encouraged to join the Youth Employment & Training Programme, a free-of-charge scheme with no limit on the number of participants. One-stop pre-employment training, on-the-job training and allowances for trainees will be offered.

The Food & Environmental Hygiene Department (FEHD) today said restaurants may apply for permssion to have dogs enter their premises from May 18 to June 8.

The department said it expects to grant the first batch of permission in mid-June, and the permitted food premises to welcome their customers with dogs within July.

Except for hotpot restaurants and barbecue restaurants including teppanyaki and Korean barbecue, all restaurants with a full licence may apply for the dog-admission permission.

The department explained that the restriction is made out of safety considerations, adding that only applications from restaurants with an area larger than 20 sq m will be considered.

Restaurants interested in applying for the dog-admission permission may submit their applications electronically through the FEHD’s dedicated webpage during the application period.

A quota of not more than 1,000 restaurants is set for the first-phase application. If more than 1,000 applications are received, the quotas will be allocated through balloting.

To allow time for the trade to make preparations, the FEHD will specify a date in July, from which dogs will be allowed to enter permitted food premises.

Before the specified date is announced, the list of permitted restaurants will be published on the dedicated webpage for the public's information.

Starting tomorrow, the FEHD will set up two dedicated hotlines 2867 5912 and 2867 2836 to answer questions about the application.

The department will also hold several briefing sessions next week to introduce the regulatory and application arrangements to the catering trade.

It is a pleasure to join you once again at the LME Asia Metals Seminar. My thanks go to HKEX (Hong Kong Exchanges & Clearing Limited) and the LME (London Metal Exchange) for hosting this annual event. To international visitors who have travelled from around the world, a very warm welcome. Your presence testifies to Hong Kong's pivotal role as a global financial and trading hub, and increasingly, as an important member of the global metals community.

A changing landscape of metals

When we met here last year, I spoke about the strong momentum in global non-ferrous metals trade. Over the past year, that momentum has not only continued, but strengthened. In 2025, global LME trading volumes averaged around 760,000 lots a day, an 8% increase over the record set in 2024. In 2026, the figure so far has further risen to close to 900,000 lots per day.

Driving the structural demand are forces we all know well: the global push for AI (artificial intelligence) and data infrastructure, electric vehicles, renewable energy systems and advanced manufacturing, for which non-ferrous metals are essential input materials. Indeed, as technological innovation accelerates across applications, so will the demand for the metals that make them possible.

But the world we face today has grown more complex and, sadly, more uncertain and volatile.

Over the past few years, tariffs, conflicts and supply chain shocks have fundamentally reshaped global trade patterns. Trade flows are being rerouted. The geography of metals trade is being reconfigured in ways that are likely to endure.

The ongoing war in the Middle East has added further pressure to the metals trade. Many base metals, such as aluminium, copper and zinc, are seeing heightened volatility as shipping routes are disrupted and market participants price in geopolitical risk.

The implications of these developments are clear: reliable, stable supply chains for non-ferrous metals have become a strategic imperative.

Hong Kong's strategic position

It is against this backdrop that Hong Kong's role as a trading hub for these metals takes on an even greater significance and a deeper strategic purpose.

Global trade is becoming more regionalised. Buyers increasingly value resilience over efficiency alone. At the same time, China and ASEAN (Association of Southeast Asian Nations) countries are deepening industrial integration and supply chain collaboration. In this environment, the region needs a platform it can trust: for trading, for price discovery and for getting deals done.

Our country's 15th Five-Year Plan, for the first time, explicitly supports Hong Kong to build a commodity trading ecosystem. This is a mandate that Hong Kong can – and should – become: a commodity trading hub that connects the Chinese Mainland and regional supply chains with the international market.

Hong Kong's unique business proposition rests on two important foundations under the “one country, two systems” framework.

First, Hong Kong is a free port – with zero tariffs, super efficient customs, unrestricted movement of goods and capital, as well as world-class logistics and maritime connectivity. As geopolitical tensions rise and global supply chains are being reconfigured, our role as a regional re-export hub is becoming even more important. Last year, despite the tariff war, Hong Kong's total goods exports went up by more than 15% year on year.

Particularly noteworthy is the performance of non-ferrous metals exports, which rose by nearly 35% last year. That strong momentum has continued. In the first quarter of this year, such exports grew by 170% year on year.

Second, Hong Kong has exceptional institutional strengths and deep capabilities in financial and professional services. We maintain full alignment with international standards, the common law system and independent dispute resolution mechanisms. And we offer a full range of services, from trade finance and marine insurance to derivatives and risk management tools. The depth of this ecosystem is what can elevate a trading and logistics hub into a trading, logistics and pricing centre for metals.

What we are building

Indeed, over the past year, we have moved decisively to realise our strategic vision. We are building tangible infrastructure and offering attractive incentives.

We have established a Strategic Committee on Commodities, which I chair. The committee is developing a long-term strategy covering physical trade, financial transactions, logistics and connectivity with the Chinese Mainland. It takes a whole-of-ecosystem approach that goes well beyond any single initiative. 

Our warehousing collaboration with the LME is an important part of this effort. A strong physical market, supported by ample delivery points, is what anchors credible benchmark prices. Since the LME approved Hong Kong as a delivery point last year, our network has rapidly grown to 15 warehouses. More than 24,000 tonnes of LME metals are already on warrant.

We know this network must continue to expand, given the sheer and growing scale of trading activities in this region.

A strong physical delivery network does more than improve supply reliability for regional buyers. It also strengthens the price discovery process by bringing regional demand more directly into the LME pricing and settlement infrastructure. In addition, it helps reduce the premium that regional buyers have historically paid because of longer delivery distances from other Asian delivery points.

On the legal and tax front, we will introduce legislation in the first half of this year to provide a 50% profits tax concession for eligible commodity trading activities. This will make Hong Kong more cost competitive when compared with other leading global commodity hubs.

Gold deserves some mention here, because it goes hand in hand with our broader strategy to develop commodity trading. The centre of gravity in gold trading is shifting eastward, as Asia accounts for around 60% of the world's annual gold demand.

To better capture these opportunities, we are building a central clearing system for gold, with trial operations scheduled for this year. Meanwhile, the Hong Kong Airport Authority is fast expanding the gold storage capacity, with a target of exceeding 2,000 tonnes within three years. Last month, Hong Kong also listed a new gold ETF (exchange-traded fund) with physical redemption options.

As the global commodities market continues to grow in both scale and complexity, the need for efficient and specialised dispute resolution mechanisms is becoming ever more pressing. We believe Hong Kong, as an international dispute resolution centre, can make a meaningful contribution in this regard.

I am pleased to let you know that the HKSAR (Hong Kong Special Administrative Region) Government and the International Organization for Mediation, or the IOMed, are exploring the possibility of establishing a special panel of mediators for commodities market disputes under the IOMed. This will provide a neutral, expert-led mediation mechanism for disputes arising across the commodities value chain, covering upstream mining and production, midstream trading and clearing, as well as downstream warehousing and delivery.

This initiative complements our strategy to develop Hong Kong into a leading gold and commodities trading hub, and helps facilitate cross-border transactions, mitigate risks and strengthen market confidence among global market participants.

Future directions

Looking ahead, the prospect for Hong Kong's metals business is highly promising. In this year's Budget, I set out the Finance+ strategy to foster greater synergy between our financial services sector and other key industries. Metals is one of the most compelling areas for this application. There are several directions with particularly strong potential.

First, building a full financial lifecycle for metals. Our ambition is for Hong Kong to be a place where every major financial need of a commodity business can be satisfied: from commodity-backed finance and derivatives, to marine and trade insurance, as well as sustainability-linked instruments.

We are also pleased to see more metals and minerals companies establishing in Hong Kong. We welcome them to list on our stock exchange to access both international and Mainland capital. They are also welcome to manage their global operations and corporate treasury activities from this city.

Last year, a mining company operating Kazakhstan's largest tungsten mine did a concurrent listing on both our stock exchange and the Astana International Exchange. It was the first of its kind. We are sure more will follow.

Second, promoting the use of RMB (renminbi) in commodity pricing. China now accounts for over half of global base metal consumption. Its continued investments in new energy, AI and the tech sector will certainly sustain this demand for years to come.

Looking ahead, there is clear room for more RMB-denominated commodity products in Hong Kong for both Mainland and international participants. This will help them manage their currency risks, and give China a more proportionate voice in global commodity benchmark pricing.

Third, enhancing market connectivity. For metals users across the region, deeper connectivity means greater liquidity, sharper price discovery and lower hedging costs. We will actively explore mutual market access in metals between Hong Kong and key markets around the world. This could include the cross listing or mutual listing of products such as metals ETFs and other exchange-traded instruments.

Just as Stock Connect and Bond Connect have transformed Hong Kong's equity and fixed income markets, there is clear potential to explore similar “Connect” arrangements in commodities. This is a longer-term project, but one that we are working towards with our partners on the Chinese Mainland.

Concluding remarks

Ladies and gentlemen, let me conclude with a thought about purpose.

If one word sums up the changes driving the world today, it is innovation. The AI era is reshaping economies and industries through advances in technology, products, business models and applications. In that process, metals are coming back into sharper focus as the building blocks of the real economy. They are no longer seen only as industrial inputs, but increasingly as part of the technologies, products and investment themes that people can readily relate to.

Developing a more vibrant metals ecosystem here in China and Asia, where production and supply chains are closely interlinked, will be vital not only to supporting more stable economic growth across our region and the world, but also to creating new opportunities for industrial development, investment and financial market development.

Hong Kong has the infrastructure, the institutions, the connections, the capital, the talent and now the national mandate to serve that purpose well. We are committed to doing so, in partnership with the LME, HKEX and all of you here today.

Financial Secretary Paul Chan gave these remarks at the LME Asia Metals Seminar 2026 on May 7.

The Global Mediation Summit, organised by the International Organization for Mediation (IOMed), will be held tomorrow at the Convention & Exhibition Centre, with Chief Executive John Lee officiating and delivering a special address.

With the support of key sponsors the Department of Justice and the Hong Kong International Legal Talents Training Academy, the summit is geared towards establishing Hong Kong as a global mediation capital. It will bring together leading mediation experts, policymakers and industry leaders from around the world to explore topics such as cross-cultural international mediation, financial and investment dispute mediation, and the development of a global mediation ecosystem.

Secretary for Justice Paul Lam will give opening remarks.

Keynote speeches will be delivered by IOMed Governing Council Vice-Chairperson and Kenyan Ambassador to China H.E. Willy Bett, and by Director General of the Treaty & Law Department of China’s Ministry of Foreign Affairs Qi Dahai.

The summit will feature three panel discussion sessions, enabling former government officials, law professionals, academics and leaders of international institutions in the field of dispute resolution, from China and around the world, to share their insights and experience in relation to three core themes: “The Facilitators of Peace: Wisdom from World-class Mediators”; “The Clients’ Voice: Why States and Investors Choose Mediation”; and “Beyond the Horizon: Developing the Global Mediation Ecosystem”.

The event will take place from 8.30am to 5.30pm, with in-person attendance augmented by live-streaming. It will be conducted in English. Simultaneous interpretation in Putonghua and Cantonese will be provided.

Ahead of the summit, IOMed Secretary-General Prof Teresa Cheng highlighted that it is the first major event to be staged by the organisation.

“We hope that more people would know about mediation and understand that the mediation services that we provide include that of state-to-state, investor-state, and international commercial.”

Prof Cheng highlighted that the summit has more than 1,000 registrants, hailing from 60 countries or regions. They include participants from bodies such as the Asian Infrastructure Investment Bank and the International Committee of the Red Cross, as well as state officials and experienced mediators.

“So that sharing onstage is going to be part of the training that the audience will get.”

Prof Cheng added: “In terms of the audience, we have a very large representative from all our signatory states, who are a good representative of states from the Global South, and therefore their exchanges amongst themselves would be very useful, and that will already be a very good capacity-building exercise.”

Following the IOMed's inauguration last year, the number of signatory states to the IOMed Convention has reached 41.

The IOMed has also begun formulating systematic training programmes. On May 9, it will host its first closed-door seminar, tailored to signatory states, as part of a drive to offer capacity-building services in the mediation sphere. 

According to the Immigration Department, around 1.19 million visitors arrived in Hong Kong over the Labour Day Golden Week of the Mainland from May 1 to 5, representing an 8% increase over the same period last year. Mainland inbound visitors accounted for around 1.01 million, representing an increase of 10% compared to last year.

The interdepartmental working group on festival arrangements, led by Chief Secretary Chan Kwok-ki, said the surge in visitor arrivals directly boosted local businesses, including retail, catering and hotels, bringing significant economic benefits.

Mr Chan said: “Popular attractions saw a large number of visitors and a vibrant atmosphere, showcasing the unique metropolitan charm of the city.

“Representatives of some shopping malls indicated that consumption in various retail categories saw year-on-year double-digit increases, while the catering sector noted that businesses in tourist areas increased about 20% in the same period, generating considerable economic benefits. These results fully reflected the function of the tourism industry as an important driver of the local economy.

“The Government will continue to work closely with these industries to promote diversified tourism products and projects, creating comprehensive and immersive travel experiences for tourists while spreading the economic advantages brought by visitor increases to different sectors to benefit the overall economy.”

During the five-day Golden Week, there was a daily average of around 200,000 Mainland visitors. Inbound Mainland visitors peaked on May 2, with around 260,000 of them arriving in Hong Kong. Lok Ma Chau Spur Line Control Point received the highest number of Mainland visitors, followed by the Express Rail Link West Kowloon Control Point.

Around 820 Mainland inbound tour groups brought over 32,000 visitors to Hong Kong, with around 60% engaged in overnight itineraries. The number of tour groups remained similar to the same period last year. The overall hotel occupancy rate reached 90%, slightly higher than last year. Hotel prices rose 10% compared with long holidays in the past.

The Government said overall traffic conditions were generally smooth during the Golden Week.

At East Dam of the High Island Reservoir in Sai Kung, various departments took measures to control traffic, increase minibus frequencies, publish visitor flow information, and strengthen cleaning services according to the plan devised before the Golden Week.

The Agriculture, Fisheries & Conservation Department (AFCD) implemented crowd control measures at Po Pin Chau during busy hours, with the pedestrian flow smooth and order well maintained.

Usage, hygiene and order were generally good at the campsites in Ham Tin Wan, Sai Wan and Long Ke Wan.

Separately, the AFCD issued advisories and warnings along Sections 1 and 2 of the MacLehose Trail, as well as at designated campsites nearby. A total of 19 enforcement cases were logged against offences of littering, illegal camping outside designated campsites.

Mr Chan thanked government departments, organisations, and industries for working together for properly handling the reception of visitors, creating a welcoming travel experience for them during the Golden Week.

The total value of retail sales in March, provisionally estimated at $33.9 billion, was up 12.8% compared with the same month a year earlier, the Census & Statistics Department announced today.

After netting out the effect of price changes over the same period, the provisional estimate of the volume of total retail sales represents a 9.8% year-on-year increase.

Online sales accounted for 9.7% of the total retail sales value in March. Provisionally estimated at $3.3 billion, the value of this segment rose 35.1% from the same month a year earlier.

The value of sales of consumer goods “not elsewhere classified” increased 18.1% in March 2026 compared with the same period a year earlier.

There were also increases in the following categories: jewellery, watches and clocks, and valuable gifts (up 27.2%); commodities in supermarkets (up 0.6%); electrical goods and other consumer durable goods not elsewhere classified (up 30.1%); medicines and cosmetics (up 3.1%); clothing (up 8.3%); food, alcoholic drinks and tobacco (up 1%); commodities in department stores (up 1.3%); motor vehicles and parts (up 80.8%); books, newspapers, stationery and gifts (up 3%); furniture and fixtures (up 0.6%); and optical items (up 7.4%).

Meanwhile, the value of sales of fuels was down 14.2% in March compared with the same month in the previous year. This was followed by sales of Chinese drugs and herbs (down 5.4%); and footwear, allied products and other clothing accessories also fell (down 10.2%).

The Government highlighted that retail sales continued to strengthen in March. In particular, motor vehicle sales showed strong growth as purchases spiked ahead of the expiry of the first registration tax concessions for electric private cars at the end of the month.

Looking ahead, it said that the near-term outlook for retail sales remains broadly positive. This is supported by recovering local demand, sustained growth in inbound tourism and a favourable macro-financial environment.

The Government will continue to track downside risks from geopolitical tensions to assess any implications for consumer spending.

Chief Executive John Lee today received Prime Minister of Uzbekistan Abdulla Nigmatovich Aripov and his delegation at Government House as they arrived in Hong Kong for economic and trade events.

The leaders discussed further strengthening co-operation between Hong Kong and Uzbekistan.

Mr Lee noted that Hong Kong is a functional platform for the Belt & Road (B&R) Initiative, while Uzbekistan is a major country in Central Asia with abundant natural resources, a strong labour force, and experience in rapid economic growth. As the two places are both active participants in the Belt & Road Initiative, there is vast potential for co-operation.

The Chief Executive said Hong Kong will continue to leverage its unique advantage of having the strong support of the motherland and being closely connected to the world under the “one country, two systems” principle, deepen international exchanges and co-operation, proactively explore B&R markets, and further strengthen collaboration with Uzbekistan in different areas, in order to jointly seize the opportunities brought by the B&R Initiative.

Mr Lee told the prime minister that Hong Kong is making every effort to develop into an international innovation and technology centre and an international hub for high-calibre talent, apart from being an international financial, shipping and trading centre. The city offers a highly internationalised and market-driven business environment, being the world’s fifth-largest trading entity in merchandise trade economy, and ranking No. 1 in the world in economic freedom.

There is vast potential for co-operation between Hong Kong and Uzbekistan, Mr Lee added, as Uzbekistan’s economy is growing rapidly and is vigorously promoting infrastructure development.

Mr Lee encouraged Uzbek enterprises to establish a presence in Hong Kong and leverage the city’s advantage in connecting with both the Mainland and the world to explore more business opportunities.

He emphasised that Hong Kong will continue to play its roles as a “super connector” and a “super value-adder”, to work with Uzbekistan to explore more business opportunities for mutual benefit and win-win outcomes.

Mr Lee also welcomed more young people from Uzbekistan to come to Hong Kong for further studies and career development, to further promote people-to-people and cultural exchanges between the two places.

He noted that the city is pressing ahead to develop into an international post-secondary education hub and is the only city in the world with five universities ranked among the world's top 100.

Furthermore, the Hong Kong Special Administrative Region Government has set up a Task Force on Study in Hong Kong, and has launched the B&R Scholarship to attract outstanding students around the world.

Also in attendance at today’s meeting were Deputy Financial Secretary Michael Wong, Deputy Secretary for Justice Cheung Kwok-kwan, Secretary for Commerce & Economic Development Algernon Yau, and Director of the Chief Executive’s Office Carol Yip.

The Intangible Cultural Heritage (ICH) Office of the Leisure & Cultural Services Department will organise the second edition of the Hong Kong ICH Month from May 30 to June 30, featuring over 50 ICH performances, 80 promotion booths and 40 field visits held across Hong Kong.

The department said the various activities will cover over 100 ICH items, giving the public and tourists a greater insight into Hong Kong's ICH, and enable them to experience the cultural richness of ICH and the pleasure it brings, with a view to achieving "shaping tourism with cultural activities and promoting culture through tourism".

A programme briefing was held today, announcing that the opening ceremony and ICH carnival will be held on May 30 and 31 at the Cultural Centre Piazza.

Apart from Cantonese music, a female lion dance and a children/youth Cantonese opera show, there will be interactive booths featuring a shadow puppetry demonstration and experience, a lion dance experience, Cantonese opera costumes and flash mob performances, a Pixiu dance, Hoi Luk Fung/Hoklo unicorn dance, for members of the public to join.

There will also be in-depth exploration in tours of nine thematic routes, bringing the public and tourists to eight districts, namely Wan Chai, the Islands, Kowloon City, Kwai Tsing, North, Sai Kung, Sham Shui Po, Yau Tsim Mong, in which ICH practitioners will share their skills and stories. Registration will open on May 15.

A light show will be presented on the exterior walls of the Space Museum in mid-to-late June to showcase the rich historical and cultural significance of the horse in artefacts and artworks, and the underlying essence of ICH.

Meanwhile, the "10 Living ICH Treasures" Mobile Classrooms will bring ICH knowledge and Chinese culture to local primary and secondary schools through mobile displays, live performance and demonstrations, as well as interactive workshops.

Carnivals or fun days will be held in various districts across Hong Kong on several Saturdays and Sundays in June.

People of all ages may enjoy a variety of ICH performances and interactive, hands-on experiential booths. Participants may make their own ICH food items and learn about the making techniques, or take part in workshops on fishing net plaiting, salt making and movable-type printing techniques.

Other events include Hong Kong Cheongsam Heritage Salon, the "Fly with ICH Delight: Pop-up Display" and "Hong Kong-style Milk Tea Making Technique" live demonstrations, as well as a seminar where scholars and experts are invited to explore the transmission and development of ICH. 

Hong Kong’s economy in the first quarter grew 5.9% year-on-year, picking up from the 4% increase in the preceding quarter.

The Census & Statistics Department announced the figures today as it released its advance estimates on gross domestic product (GDP) for the first quarter.

On a seasonally adjusted quarter-to-quarter basis, real GDP rose further by 2.9%.

Commenting on the figures, the Government said the Hong Kong economy expanded robustly in the first quarter, marking the strongest quarterly growth in nearly five years.

Underpinned by strong global demand for artificial intelligence-related electronics, sustained growth in visitor arrivals and robust cross-boundary financial activities, the city’s economic growth outlook remains positive, it highlighted, adding that solid business and consumer sentiment is expected to continue supporting domestic demand.

Nonetheless, the Government remarked that persistent tensions in the Middle East pose downside risks to the economic outlook. In response, targeted measures have been taken to safeguard energy supply stability and mitigate the impacts on affected sectors.

The Government today announced that Kimmey Ho will assume the post of District Officer (Wong Tai Sin) tomorrow, succeeding Thomas Wu.

Ms Ho joined the Administrative Service in 2008 and has served in various bureaus and departments, including the Home Affairs Department, the Commerce & Economic Development Bureau, the then Office of the Government Chief Information Officer and the Housing Department.

Most recently, she was Principal Assistant Secretary for Financial Services & the Treasury (Treasury) (Works) at the Financial Services & the Treasury Bureau.

The Land Registry logged 8,692 sale and purchase agreements received for registration for all building units in April, a rise of 12.3% compared with March and up 20.2% year on year.

The total consideration for building unit sale and purchase agreements in April increased 17% from the previous month to 72.9 billion, representing a 45.5% year-on-year increase.

A total of 7,368 agreements were for residential units, up 16.7% from the previous month and up 29.4% from a year ago.

The total consideration for residential units was $63.7 billion, an increase of 15.4% compared with the previous month and a rise of 50.9% year on year.

There were 419,404 land register searches last month.

I am delighted to witness with you today's MOU (Memorandum of Understanding) signing.

This is a real milestone: the Hong Kong Special Administrative Region Government and the Dongguan Government leading EcoCeres to build in Dongguan a sustainable aviation fuel value chain right here in the Greater Bay Area.

Traditional aviation fuel carries a heavy carbon footprint. Sustainable Aviation Fuel, SAF, cuts lifecycle emissions by more than 80%. That is a substantial step toward greener aviation.

The collaboration between Hong Kong and Dongguan is the realisation of the executive-led governance of Hong Kong and also the joint working of effective government and an efficient market. It is also an excellent example of synergy of the two places.

Hong Kong brings global finance, professional services and research capabilities. Dongguan brings mature chemical industry parks, logistics, and a steady supply of used cooking oil – the essential raw material for SAF. Together, we form a powerful combination.

The company at the heart of this project is EcoCeres. Incubated in Hong Kong, it has developed proprietary technology to turn waste cooking oil into internationally certified sustainable aviation fuel, SAF. That is why it holds a leading position in the global market.

Ladies and gentlemen, the world faces energy disruptions. But Hong Kong, under “one country, two systems”, enjoys a unique advantage: strong support from the motherland and close connections to the world. We can turn green challenges into green opportunities.

Today's MOU means policy alignment, co-ordinated resource mobilisation, and joint action between Hong Kong and Dongguan. We are linking the entire supply chain, from raw materials to production. That will drive investment and support our country's carbon reduction goals.

Looking ahead, we will continue to deepen Hong Kong-Guangdong collaboration. More policy connectivity. More resource sharing. More green projects.

Together, we will build a cleaner, greener future – for Hong Kong, for Dongguan, for the Greater Bay Area, for our country and for the world.

Chief Executive John Lee gave these remarks at the Signing Ceremony of Memorandum of Understanding - Establishment of Hong Kong's Sustainable Aviation Fuel Base in Dongguan on May 5.

Prime Minister of Uzbekistan Abdulla Nigmatovich Aripov will arrive in Hong Kong tomorrow for an official visit. Chief Executive John Lee will meet the Prime Minister on the same day at Government House.  

The 15-day arrangements for residents at seven blocks of Wang Fuk Court in Tai Po to return to their units in batches concluded today.

Among the 1,736 households of the seven blocks, a total of 6,265 residents from 1,674 households have returned to their units.

The Government said the process was generally smooth and completed in an orderly manner.

Deputy Chief Secretary Cheuk Wing-hing expressed his gratitude for the understanding and co-operation of the residents.

He noted that the vast majority of the residents returned to their units within the 15-day period, while only fewer than 10 households required other arrangements. About 50 households decided not to return to their units.

“There were safety hazards at different parts in the seven blocks after the fire. Arranging safe and orderly access for over 1,670 households was highly challenging.

“To ensure the safety of residents and working staff, meticulous planning was required, including removing unsafe scaffolding, strengthening building structures, installing window safety nets on damaged windows, clearing piles of rubble and debris from common areas, accompanying residents up to the units, providing emotional support, managing crowds, and deploying a large number of interdepartmental supporting staff.”

Mr Cheuk expressed heartfelt appreciation to all staff involved in the arrangements, who worked as one team and displayed commitment and empathy in supporting the residents. Specifically, the staff attentively escorted the residents and assisted in transporting their belongings on their way down. 

Their dedication helped ensure that the arrangements proceeded smoothly, Mr Cheuk added.