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Financial Secretary Paul Chan visits New York, DC

Financial Secretary Paul Chan is visiting New York (Oct 14 – 16) and Washington DC (Oct 16 – 17). He will attend the annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) as a member of the Chinese delegation in DC. The meetings bring together global officials, central bankers, business leaders, non-governmental organisations, and academics, to discuss key issues, such as the global economy, finance, international trade, global supply chains, climate change and digital transformation. He will also meet IMF and WBG representatives, government officials from various countries, and leaders from the financial and economic sectors. During his stay in the US, he will meet representatives of local chambers of commerce, financial institutions, think tanks, and other bodies to discuss the current international financial and trade landscape and update them on developments in Hong Kong.

New York business community explore Greater Bay Area opportunities 

Supported by the Hong Kong Economic and Trade Office in New York (New York ETO), the Greater Bay Area Business Exchange Conference (Oct 8) at Baruch College in New York brought together over 80 business professionals to explore exciting investment opportunities in the dynamic innovation cluster of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). In her welcome remarks, Director of New York ETO Maisie Ho highlighted Hong Kong’s pivotal role as the international gateway to the GBA, a US$2 trillion powerhouse of finance, technology, and advanced manufacturing. Charles Lorum from Invest Hong Kong and Curtis Louie from the Hong Kong Trade Development Council also shared insights into the region’s business environment and emerging opportunities. Conference attendees also learned about the success story of a Shenzhen self-driving car sensor startup that became one of the first LiDAR (laser imaging, detection, and ranging) companies listed on the Hong Kong Stock Exchange in 2024. The conference was co-organised by the Asian American Business Development Center and the North American Representative Office of Shenzhen.

More strategic firms set up in Hong Kong

The Office for Attracting Strategic Enterprises (OASES) welcomed (Oct 9) 18 key enterprises at a ceremony, officiated by Financial Secretary Paul Chan. He said these firms bring investment and employment along with transformative ideas and technologies that will further enrich Hong Kong’s innovation and technology ecosystem. With these additions, Hong Kong now hosts over 100 strategic enterprises, attracting over US$7.7 billion (HK$60 billion) in investment and creating around 22,000 quality jobs. The latest batch of strategic enterprises includes three of the world’s top 10 pharmaceutical companies, and marks the first time cultural and creative enterprises that integrate technology with artistry and entertainment are included.

Hong Kong family office guide launched

The Financial Services and Treasury Bureau, Invest Hong Kong and Bloomberg have launched The Family Office Playbook: A guide for Legacy Builders, designed to support families establishing or expanding their family offices in Hong Kong. The Playbook provides actionable insights and frameworks from leading families and practitioners to navigate the full spectrum of opportunities and challenges. Secretary for Financial Services and the Treasury Christopher Hui said the Playbook brings together regulatory insights, financial frameworks, and operational guidance, all tailored to Hong Kong’s unique market environment. Key topics include governance, legal structures and planning; licensing and compliance essentials; allocation strategies in Hong Kong’s dynamic markets; best practices in operations, technology and talent; as well as intergenerational wealth transfer and legacy planning.

Offshore RMB hub leadership retained

Hong Kong remained the fourth largest global foreign exchange centre and the top global offshore Renminbi (RMB) business hub, according to the 2025 Triennial Central Bank Survey of Foreign Exchange and Over-the-counter (OTC) Derivatives Markets Turnover published by the Bank for International Settlements (Sep 30). The city’s average daily turnover of foreign exchange transactions increased 27.2% to US$883.1 billion in April 2025 from US$694.4 billion in April 2022, driven by increases in foreign exchange swaps, spot transactions and OTC options. The average daily turnover of RMB foreign exchange transactions rose 64.8% to US$315.1 billion in April 2025 from US$191.2 billion in April 2022, while the average daily turnover of RMB OTC interest rate derivatives transactions grew 67.1% to US$24.5 billion in April 2025 from US$14.7 billion in April 2022.

Green bond report released

Hong Kong’s Green Bond Report 2025, released on Sep 30, sets out the allocation of the proceeds from green bond issuances and their environmental benefits. The Hong Kong Special Administrative Region (HKSAR) Government has issued around US$30.8 billion (HK$240 billion) in green bonds to fund various green projects such as sewage upgrades, hospital expansion and advanced computing for the Hong Kong Observatory. Secretary for Financial Services & the Treasury Christopher Hui said the report provides comprehensive information on the projects funded by the Government Sustainable Bond Programme, reinforcing Hong Kong’s role as a regional and international green and sustainable finance hub by leveraging the city’s strengths in the bond market, green and sustainable finance, as well as fintech.

Five Hong Kong universities among world’s top 100

Hong Kong is the only city in the world with five universities ranked in the top 100 in the Times Higher Education World University Rankings 2026, released on Oct 9. In the latest rankings, the University of Hong Kong rose two places to 33rd; the Chinese University of Hong Kong moved up three places to 41st; the Hong Kong University of Science & Technology jumped eight places to 58th; City University of Hong Kong advanced three places to 75th; and the Hong Kong Polytechnic University climbed one place to 83rd. Hong Kong Baptist University also recorded an improved ranking, while the Education University of Hong Kong and Lingnan University both entered the rankings for the first time. The results gave due recognition to the achievements of Hong Kong’s post-secondary education sector, and testify to significant progress in the efforts to develop the city into an international post-secondary education hub.

Hong Kong planning professionals to host urban planning symposium in New York

Planners and professionals are invited to join an upcoming Urban Planning Symposium on Wednesday, Oct 22, from 10:00 am to 4:00 pm at the Museum of Arts and Design in New York. The event is part of the visit programme by the Hong Kong Planning Professionals’ Delegation to New York to foster exchanges between planners and members of the academic and professional institutions. Themed “Planning for New Generation World Class City: Opportunities and Challenges of Urban and Rural Regeneration from Urban Planning Perspective”, the symposium will compare and contrast the latest planning strategies in both cities, and explore the opportunities and challenges of urban and rural regeneration. Featured speakers include David Green of ARUP New York; Jack Robbins of FXCollaborative, and Dr Ivan Shumkov of Build Tours. Those interested in attending are encouraged to register by sending their name, job title and contact details to eac@hkip.org.hk.

Hong Kong’s Bar Leone crowned world’s best

Bar Leone has claimed the top spot on “The World’s 50 Best Bars” list, becoming the first Asian bar to earn this prestigious title. The achievement was all the more special as the cocktail bar on Bridges Street in Central, received the award during the Global Awards Ceremony (Oct 8) held in Hong Kong in front of an elite industry crowd. Another Hong Kong spot COA was named the world’s 38th, cementing Hong Kong’s leading position in the Asian and global bar scene. While in Hong Kong, industry leaders had the chance to explore a curated selection of the city’s best bars, gaining insights into its innovative cocktail culture and world-class bar experiences, and encouraging the development of its dynamic bar industry. 

Dragon boat paddlers raise US$9,000 for New York charities

Kudos to the paddlers of the Charity Invitational of the 2025 Hong Kong Dragon Boat Festival in New York, who together raised US$9,000 for three New York non-profits dedicated to serving the community. The three participating teams were joined by their partner charities at the Charity Race Awards Presentation Ceremony (Oct 2) to share more about their impactful programmes supporting youth, families, and underserved groups. This meaningful tradition has been an integral part of the festival’s mission since its inception. Speaking at the ceremony, Director of the New York ETO, Maisie Ho, commended the festival organisers for their long-standing commitment in supporting New York charities over the past 35 years.

Mid-Autumn Festival celebrated under the New York stars

More than 100 guests gathered for a festival Mid-Autumn Festival celebration (Sep 30), organised by the Hong Kong Association of New York, bringing together friends, families and alumni from various Hong Kong universities for a rooftop screening of the beloved Hong Kong comedy classic “Shaolin Soccer”, along with traditional mooncakes, lantern riddles, and lucky draw prizes. The evening was filled with laughter, community spirit, and a shared appreciation for Hong Kong culture under the New York’s night sky. New York ETO was one of the sponsors for the evening celebration.

Hong Kong committed to fight human trafficking

The HKSAR Government strongly rejected (Sep 30) the groundless remarks about Hong Kong contained in the US Department of State’s Trafficking in Persons Report 2025, describing the report’s claims on Hong Kong’s anti-trafficking efforts as false and baseless. In a statement, the HKSAR Government reiterated that trafficking has never been prevalent in Hong Kong, nor has the city shown any signs of being used as a destination or transit point. The HKSAR Government described the “Tier 2 (Watch List)” rating unfair and an attempt to smear Hong Kong’s reputation. Emphasising its proactive, multi-pronged strategy, the HKSAR Government highlighted its comprehensive legislative framework, comprising over 50 legal provisions against trafficking, and reaffirmed its steadfast commitment in the fight against trafficking.

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: Can non-government organisations in areas such as education, science, and culture in Hong Kong work with international and foreign organisations?

A: Non-government organisations in fields such as education, science, technology, culture, art, sports, the professions, medicine and health, labour, social welfare and social work as well as religious organisations in the HKSAR may maintain and develop relations with their counterparts in foreign countries and regions and with relevant international organisations. They may, as required, use the name “Hong Kong, China” in the relevant activities. (BL Article 149)