Hong Kong finance chief highlights 4 priorities ahead of Apec meeting this month

🔮 Hong Kong finance chief highlights 4 priorities ahead of Apec meeting this month Meeting will focus on areas that play to city’s strengths, such as fiscal policies that support livelihoods, digital infrastructure and young talent The Apec finance ministers’ meeting in Hong Kong this month will focus on fiscal policies that support livelihoods, digital infrastructure financing, inclusive finance and young financial talent, underlining the city’s role as an international financial centre, the finance chief said.

🔮 John Lee promises ‘high-quality’ experience for Apec finance meeting guests City leader says Beijing is handling attendee registration without confirming whether US Treasury Secretary Scott Bessent is among the guests Hong Kong’s leader has pledged to provide guests attending this month’s Apec Finance Ministers’ Meeting with a “high-quality” experience, as the city works closely with Beijing to assist delegations with the registration process. About 500 guests, including finance ministers and senior officials from the 21 member economies, are expected to attend the annual meeting on October 20 and 21, which will be hosted by Hong Kong for the first time at the Convention and Exhibition Centre in Wan Chai. Asked whether US Treasury Secretary Scott Bessent would attend the summit, Chief Executive John Lee Ka-chiu said on Tuesday only that the Ministry of Finance in mainland China was handling attendee registration.

🔮 Chief Executive John Lee Ka-chiu said on Tuesday that the government would study and follow up on the recommendations of the judge-led independent committee investigating last November’s deadly fire at Wang Fuk Court in Tai Po.

🔮 Health chief warns overstated claims of job shortages could lead to fewer new nurses Lo Chung-mau says exaggerated claims of graduate unemployment could discourage new blood from entering nursing sector at city’s expense Hong Kong’s health minister has warned that the city will need to “bear the consequences” of exaggerating concerns over the employment prospects of nurses, as such remarks could deter new blood from joining the profession. “I do not want recent comments, such as claims that ‘[nursing] graduation equals unemployment’, to dampen the interest of our younger generation in joining the nursing profession,” Secretary for Health Lo Chung-mau said on Thursday.

🔮 Hong Kong to expand IP financing sandbox after 7 firms secure cheaper loans ‘This will help refine the IP ecosystem, including valuation practices, professional service costs, supporting measures and market awareness,’ HKMA executive says The Hong Kong government has pledged to expand its intellectual property (IP) financing sandbox scheme by adding more participating banks and enterprises, after seven corporate users found that a nine-month trial helped lower their borrowing costs. “This will help refine the IP ecosystem, including valuation practices, professional service costs, supporting measures and market awareness,” Carmen Chu Lap-kiu, executive director of banking supervision at the Hong Kong Monetary Authority (HKMA), said on Wednesday.

🔮 justice minister Paul Lam dismisses concerns that measures could infringe on individual rights, saying goal is to protect children in Hong Kong from online harms Introducing legislation to protect minors by regulating social media use is among the options on the table, Hong Kong’s justice minister has said, after the latest policy address unveiled plans to create a task force to review the situation.

🔮 Hong Kong pledges lenient approach on 10-12 hours of civil service family leave Civil service chief Ingrid Yeung says applications for new hourly leave scheme will be straightforward, with minimal proof needed Hong Kong authorities have pledged to take a lenient approach when approving applications for a new scheme granting civil servants 10 to 12 hours of family care leave annually from next year. The initiative, first announced in last week’s annual policy address, will allow staff to leave work temporarily to deal with personal matters, such as accompanying family members to hospital or attending parent-teacher meetings.

🔮 Hong Kong’s metal storage hits 30,000 tonnes in push to become global commodity hub Financial services minister Christopher Hui also says city will pay for Dongjiang water using yuan as part of internationalising renminbi Hong Kong’s push to develop into a premier gold and commodity trading hub has gained momentum, with local metal storage surpassing 30,000 tonnes, a minister has said, as the administration positions the city as the destination of choice for global capital. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu also said on Friday the government would expand renminbi settlement of payments for mainland Chinese services, such as buying water from the Dongjiang, in a bid to boost the globalisation of the yuan.

🔮 Hong Kong’s ‘AI city brain’ will not tap personal data, breach privacy: John Lee

🔮 Sources say measures supporting Northern Metropolis and backing innovation are expected to be major highlights of John Lee’s policy address The SCMP also learned that Lee’s coming speech would last no more than three hours and be equally split between the five-year plan and the policy address.