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Hong Kong to advance global outreach efforts

Secretary for Commerce and Economic Development Algernon Yau underscored the strategic role of Hong Kong’s overseas Economic and Trade Offices (ETOs) and Mainland Offices in advancing the city’s global outreach at a high-level reception (Nov 11), attended by some 200 representatives from the diplomatic corps, business chambers, cultural sectors and government advisory bodies. Convened alongside the annual meeting of the heads of 14 ETOs and five Mainland Offices, the event provided an opportunity to brief stakeholders on the government’s intensified efforts to promote Hong Kong’s competitive advantages amid heightened geopolitical and economic uncertainties. He highlighted Hong Kong’s resilience amid global headwinds and stressed the pivotal role of ETOs as frontline envoys protecting the city’s trade interests and strengthening its global economic networks. He also outlined new Policy Address initiatives to boost external engagement, including support for Chinese Mainland enterprises “going global,” enhanced assistance for SMEs exploring emerging markets, and the continued expansion of the ETO network to strengthen Hong Kong’s presence in fast-growing regions.

Action plan to build Hong Kong-Shenzhen global fintech hub unveiled

The Financial Services and the Treasury Bureau and the Shenzhen Municipal Financial Regulatory Bureau unveiled (Nov 19) the Action Plan for Jointly Building the Hong Kong-Shenzhen Global Fintech Hub (2025–2027), outlining a coordinated blueprint to position the two cities as a leading international fintech centre. The plan leverages Hong Kong’s top-ranked fintech ecosystem and Shenzhen’s industrial finance strengths, covering digital finance, techfin, green and inclusive finance, and pension finance. Secretary for Financial Services & the Treasury Christopher Hui said the plan aims to deliver over 20 financial application scenarios via the Shenzhen-Hong Kong cross-boundary data validation platform by 2027. Key measures include supporting Shenzhen institutions to establish fintech subsidiaries in Hong Kong, jointly developing incubators, expanding Shenzhen firms’ access to Hong Kong’s specialist listing channels, promoting offshore renminbi sustainable bond issuance, advancing e-CNY pilots, and deepening collaboration on Project mBridge. The plan also enhances talent development and coordination of major fintech events across both cities.

World’s largest digital green bond issuance completed

The Hong Kong SAR Government priced its third batch of digital green bonds (Nov 10), raising HK$10 billion across HKD, RMB, USD and EUR tranches – its largest digital issuance to date and the biggest globally. The offering drew over HK$130 billion in subscriptions and significantly expanded investor participation, including many first-time digital bond buyers. It was the world’s first digital bond offering to integrate tokenised central bank money – e-HKD and e-CNY – into primary market settlement, reducing settlement time, cost and risk. It also advanced global standard adoption with Digital Token Identifiers and wider use of the ICMA Bond Data Taxonomy to improve interoperability. Financial Secretary Paul Chan said the strong response underscores confidence in tokenised products, while Secretary for Financial Services and the Treasury Christopher Hui noted the deal strengthens Hong Kong’s position as a green and sustainable finance hub.

New initiatives to strengthen financial market infrastructure

The Hong Kong Monetary Authority (HKMA) introduced (Nov 12) Hong Kong Exchanges and Clearing Limited (HKEX) as a strategic shareholder with a 20% stake in Central Moneymarkets Unit (CMU) OmniClear Holdings, enhancing the development of the CMU into a multi-asset central securities depository and expanding services in investor central securities depository functions, asset-class coverage and collateral management. The partnership aims to boost post-trade efficiency and strengthen Hong Kong’s role as a regional hub for equity and debt market connectivity. Separately, the HKMA launched the pilot phase of Project Ensemble, enabling real-value settlement of tokenised deposits and digital assets. Running through 2026, the pilot will begin with tokenised money market fund transactions and inter-bank settlement via the HKD Real Time Gross Settlement system, progressing toward around-the-clock settlement in tokenised central bank money. With support from participating banks and the Securities and Futures Commission, the initiative marks a shift from testing to real implementation, reinforcing Hong Kong’s leadership in digital finance and tokenisation.

SFC CEO Julia Leung re-appointed

The HKSAR government re-appointed Julia Leung (Nov 14) as CEO of the Securities and Futures Commission (SFC) for a two-year term from January 2026 to December 2027. Financial Secretary Paul Chan commended her strong performance, noting that she has strengthened market regulation while advancing reforms, deepened mutual market access with the Chinese Mainland, and expanded Hong Kong’s international financial links. Ms Leung joined the SFC in 2015 and has served as CEO since 2023.

New York ETO brings “Four Seasons” to Carnegie Hall

Hong Kong’s cultural prowess was showcased at the world-renowned Carnegie Hall during the “Four Seasons: A Journey of 1725–2025” concert, supported by the Hong Kong Economic and Trade Office in New York (New York ETO) (Nov 22). The programme featured Hong Kong-based Korean violinist Ruda Lee and the innovative ANIMA Ensemble under the baton of Vivian Ip, Associate Conductor of the Hong Kong Sinfonietta and laureate of the 2025 International Ferenc Fricsay Conducting Competition. New York ETO Director Maisie Ho said the ensemble’s debut embodied Hong Kong’s ambition to serve as a vibrant cultural nexus where Eastern and Western traditions intersect and evolve. The concert reinterpreted Vivaldi’s Four Seasons through a contemporary climate lens and premiered new compositions from Rutgers University. Complementing the performance, Lee and Ip led workshops at Rutgers to deepen artistic exchange and strengthen cultural dialogues with the American youth.

Concert photo credit: Chris Lee

Live streaming of Swire Symphony Under the Stars

A night of music and magic awaits! Under the baton of maestro Tan Dun, the Hong Kong Philharmonic's signature concert Symphony Under the Stars is back! This year's nature-inspired programme at the Central Harbourfront (Nov 26, Hong Kong time), brimming with animal imagery, vivid colours and dazzling virtuosity, ranges from the "Crouching Tiger, Hidden Dragon" concerto to the thunderous cannon fire of Tchaikovsky's 1812 Overture, capped off with a spectacular fireworks display. An unforgettable night for all! If you can't make it, tune into the BrandHK Facebook live-stream starting 7:30pm (6:30am, Nov 26 EST). 

Hong Kong charts bold course at Maritime Week

Hong Kong Maritime Week 2025 (Nov 16-22) opened with more than 50 events highlighting the city’s role as a global maritime capital and its push toward green and digital transformation. In his address to the participants, Chief Executive John Lee reaffirmed Hong Kong’s strengths under “one country, two systems,” noting its consistent top-four ranking as an international shipping centre and growing capabilities in LNG and biodiesel bunkering as it positions itself for next-generation green fuels. Transport and Logistics Secretary Mable Chan outlined new initiatives to boost competitiveness, including a Port Community System enabling real-time cargo tracking, an expanded “rail-sea-land-river” intermodal network reaching deeper into the Chinese Mainland, and upcoming partner-port arrangements with key Chinese Mainland and Belt-and-Road ports. Financial Secretary Paul Chan told the Global Maritime Trade Summit that shifting trade flows, rising intra-Asia demand and the multi-trillion-dollar decarbonisation drive are reshaping global shipping, with technology and sustainability emerging as decisive competitive advantages.

HK’s climate progress highlighted at COP30

Secretary for Environment and Ecology Tse Chin-wan showcased Hong Kong’s climate progress at COP30 in Belém (Nov 11), meeting the national delegation and speaking at a China Pavilion side event on the city’s role in global climate action. He underscored Hong Kong’s early decarbonisation steps – ending new coal-fired power plants in 1997, peaking emissions in 2014, and reducing per-capita emissions to below 4.5 tonnes, well beneath levels in the US and EU. He outlined targets to halve emissions before 2035 and reach carbon neutrality by 2050, supported by a strategy covering zero-carbon electricity, green transport, energy efficiency, and waste-to-energy development. He also noted progress on EV adoption, hydrogen planning, and collaboration with the Chinese Mainland on sustainable aviation fuel and green maritime bunkering.

USCC annual report rejected

The HKSAR Government rejected the latest US-China Economic and Security Review Commission report (Nov 19), calling its criticisms of Hong Kong’s national security laws, human-rights protections and business environment unfounded and politically motivated. The government said the report ignored Hong Kong’s constitutional order under “one country, two systems”, where rights and freedoms are protected by the Basic Law and upheld by an independent judiciary. The government stressed that the Hong Kong National Security Law and Safeguarding National Security Ordinance target only a small minority and have restored stability and strengthened the business climate. It cited global indices showing Hong Kong remains among the world’s freest and most competitive economies. Rejecting attacks on the laws’ extraterritorial provisions, the government said they follow international practice and are necessary to address absconders. It also reiterated Hong Kong’s robust anti-money-laundering regime and full compliance with UN sanctions, urging the US to stop interfering in China’s internal affairs.

The Basic Law (BL) is the constitutional document of the HKSAR. It provides the guarantees to maintain our existing way of life, including socio-economic development, the rights and duties of Hong Kong people, the rule of law and other areas. The Basic Law was put into effect on July 1, 1997.

Q: How long can the Chief Executive of the Hong Kong Special Administration Region serve?

A: The Basic Law states that the term of office of the Chief Executive of the Hong Kong Special Administrative Region shall be five years. In addition, he or she may serve for no more than two consecutive terms. (BL Article 46)