Business and Finance Updates from Hong Kong Government

Cinema Day 2026 will take place on April 25, during which all movie tickets at commercial cinemas across Hong Kong will be priced at $30. The initiative is sponsored by the Cultural & Creative Industries Development Agency under the Culture, Sports & Tourism Bureau through the Film Development Fund (FDF). Tickets will go on sale starting at noon on April 22 at cinema box offices, websites and mobile apps. Attending a press conference for the event today, Commissioner for Cultural & Creative Industries Drew Lai encouraged the public to visit cinemas and support the local film industry. Miss Lai stated that the Government remains committed to fostering the development of the local film sector. She highlighted that the FDF has supported various initiatives, such as Cinema Day, to promote Hong Kong films and reach a wider audience. She added that Cinema Day aims to cultivate a cinema-going culture among the public, supporting the long-term growth of the industry while simultaneously boosting consumption in local neighbourhoods. Over the past three years, Cinema Day has recorded a total of more than 600,000 admissions and over $44 million in box office revenue. The initiative has been widely welcomed by both the public and the film industry.

Secretary for Innovation, Technology & Industry Prof Sun Dong today officiated at the opening ceremony of the fourth InnoEX at the Convention & Exhibition Centre. This year’s event features more than 550 exhibitors and delegations from 21 countries and regions, alongside 17 Mainland provinces and cities. In his opening address, Prof Sun noted that this year's InnoEX fully embodies the “T-E-C-H” elements: Thriving Participation, Elevation, Connection & Collaboration and Hong Kong. He emphasised that InnoEX has evolved beyond an annual showcase of the city’s innovation and technology (I&T) strengths. It now serves as a premier international platform that connects startups with investors, research institutions and industry, while helping local enterprises bridge with global markets. Director General of the United Nations Industrial Development Organization Gerd Müller was the Guest of Honour at the opening ceremony. The four-day InnoEX is being held from April 13 to 16 under the theme “Innovate • Automate • Elevate”. The exhibition focuses on five core I&T sectors: AI+, robotics, low-altitude economy, property technology and retail technology. This year’s event has seen a marked increase in both exhibitor numbers and international reach, with new participants arriving from countries including Austria, Germany, Hungary, Israel, Kazakhstan, the Netherlands, the Philippines and the United States. Mainland participation is equally robust […]

To support the Northern Metropolis and other infrastructure projects, the Chief Executive in Council has, in accordance with the Exchange Fund Ordinance, approved the transfer of $150 billion from the Exchange Fund to the Government’s Capital Works Reserve Fund (CWRF). The transfer will be made through a designated account under The Financial Secretary Incorporated, with $75 billion per annum being credited to CWRF’s account in each of 2026-27 and 2027-28. The Government will implement the relevant arrangement after the passage of the Appropriation Bill 2026 by the Legislative Council. The Exchange Fund Ordinance sets out the mechanism that empowers the Financial Secretary (FS) to make transfers from the Exchange Fund, with the principal condition that the FS is satisfied that any transfer will not adversely affect the Exchange Fund’s main function of maintaining the stability of the Hong Kong dollar’s exchange value, and the stability and integrity of the city’s monetary and financial systems. The Exchange Fund achieved a record breaking performance last year, delivering investment income of $330 billion. As at the end of 2025, the total value of assets under the Exchange Fund exceeded $4.1 trillion, enough to maintain monetary and financial stability. As such, on the premise that the Exchange Fund’s main functions will not be compromised, the FS proposed, in the 2026-27 Budget, transferring $150 billion from the Exchange Fund to the CWRF over two […]

Chief Executive John Lee today met United Nations Industrial Development Organization (UNIDO) Director General Gerd Muller at the Central Government Officers, during which they exchanged views on strengthening co-operation in industrial development and witnessed the signing of a joint statement on collaboration. Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region Li Yongsheng, also attended the meeting. The joint statement was signed by Secretary for Innovation, Technology & Industry Prof Sun Dong, and Deputy to the Director General of UNIDO and Managing Director of the Directorate of Technical Co-operation & Sustainable Industrial Development Zou Ciyong. It aims to establish a co-operative framework to strengthen collaboration, information sharing and exchange of best practices to advance industrial innovation, technology transfers and capacity development, including the exploration of the joint development of a centre of excellence on global advanced manufacturing and artificial intelligence (AI) in Hong Kong. At the meeting, the Chief Executive welcomed Mr Muller's delegation to visit Hong Kong, noting that the National 15th Five-Year Plan clearly supports Hong Kong to develop into an international innovation and technology (I&T) centre. Hong Kong enjoys the advantage of connecting the Mainland and the world under the “one country, two systems” principle, and is […]

The Department of Justice (DoJ) today published, for the first time, the Panel List of Hong Kong Legal Services Providers Supporting "Go Global", comprising more than 70 legal services providers in Hong Kong. The list aims to facilitate precise connections of Mainland enterprises with Hong Kong's legal professional services for expanding overseas, and encourage the Mainland enterprises to use Hong Kong as their preferred springboard of going global.  The panel list covers international arbitration institutions, practising barristers and 60 local, international and registered foreign law firms of various sizes. All service providers have track records in the relevant professional fields of going global. Deputy Secretary for Justice Cheung Kwok-kwan noted that the National 15th Five-Year Plan gives explicit support to Hong Kong in leveraging its professional strengths to assist enterprises in their going global endeavours. The release of the panel list at the outset of the 15th Five-Year Plan is a timely and practical response.  “By capitalising on Hong Kong's strengths as an international legal hub, it supports Mainland enterprises in improving risk management as they go global, enhancing their international competitiveness and making steady and sustainable progress in international markets.” Mr Cheung added that the panel list fully reflects the breadth of Hong Kong's legal professional services as the city’s legal sector has strong professional capabilities to […]

The World Internet Conference Asia‑Pacific Summit opened today at the Convention & Exhibition Centre, where Chief Executive John Lee delivered remarks. Building on its successful debut last year, Hong Kong is once again organising the summit which Mr Lee noted underscores Hong Kong's growing prominence as an international innovation and technology (I&T) hub.  “No less important, it reinforces our deep integration into national development strategies. The country's National 15th Five-Year Plan, approved last month, continues to champion Hong Kong's development as an international I&T hub, let me add. That includes supporting the development of I&T in the Guangdong-Hong Kong-Macao Greater Bay Area.” He added that the Hong Kong Park of the Hetao Shenzhen‑Hong Kong Science & Technology Innovation Co-operation Zone, which officially opened in December 2025, has attracted more than 70 tenants from key technology sectors, including artificial intelligence (AI) and data science, life and health technology, and new energy.  “We are also working with Mainland authorities on implementing facilitating policies at the Co-operation Zone. They include enabling the cross-boundary flow of bio-samples and other innovation elements.” Mr Lee highlighted that AI is central to the Hong Kong Special Administrative Region Government's accelerating I&T development.  “We are putting together a comprehensive strategy combining world-class infrastructure, […]

In response to conflicts in the Middle East region, Chief Executive John Lee today chaired a special meeting of the Inter-departmental Task Force on Monitoring Fuel Supply, during which four measures for addressing rising fuel prices were accepted. (1) Subsidising diesel pricesThe task force proposed a two-month subsidy of $3 per litre of diesel to support public and commercial vehicles and vessels and related industries that use diesel as fuel, with a view to reducing their operating costs and alleviating their pressure to raise prices. This subsidy is estimated to cost approximately $1.8 billion. The Environment & Ecology Bureau (EEB) will work with the Competition Commission to monitor the pricing practices of each fuel company to ensure that they do not take advantage of the occasion. Meanwhile, the majority of taxis and public light buses use liquefied petroleum gas as fuel, the price of which currently remains stable. The task force will continue to monitor price movements and consider the matter further where appropriate. (2) Tunnel toll reduction for non-private carsThe task force proposed that the Government reduces tunnel tolls by 50% for all commercial vehicles (including goods vehicles, buses, minibuses and taxis) using government-operated toll tunnels, excluding private cars and motorcycles. The measure will last for two months and is expected to result in a revenue reduction of about $160 million. (3) Establishing Working Group on Public Transport […]

A major focus of the work of Invest Hong Kong (InvestHK) is in enticing companies from the Chinese Mainland and overseas to explore international business opportunities through Hong Kong. Biopharmaceutical companies focused on advanced therapeutic products (ATP) are a key target sector in this endeavour. Frank Su founded a Mainland-based biopharma technology company in 2016. Boasting research and development (R&D) centres in both the Chinese Mainland and the US, the company concentrates on pioneering cell therapy projects. Recognising Hong Kong’s strong intellectual property protections and the exceptional R&D standards of its medical schools, in 2024 Mr Su opted to establish a new R&D base at the Hong Kong Science Park. In doing so, he was able to leverage both robust science and technology support from the Government, and the city’s progressive talent policies. Policy support“The biopharma or biotech industry is highly driven by talent and capital,” Mr Su remarked. “To enhance the ecosystem for the sector, companies require increased investment. Programmes like the Clinical Translational Catalyst from the Science Park, and the Research Talent Hub, can facilitate smoother transitions for our company and peers. These initiatives are crucial for reducing investment risks and boosting our long-term confidence in Hong Kong.” Head of Innovation & Technology and Life & Health Sciences at InvestHK Andy Wong stressed that one major attraction for […]

According to the latest Global Trade Outlook & Statistics published by the World Trade Organization, Hong Kong ranked as the world’s fifth-largest merchandise trading entity in 2025, up two places from 2024. If the European Union was taken as a single trading entity, Hong Kong would have ranked fourth. Hong Kong's merchandise trade recorded a year-on-year increase of 17.5% to US$1,585 billion, accounting for 3% of the world’s total. Moreover, Hong Kong was the world’s fifth-largest exporter and the sixth-largest importer of goods, three places up from 2024 on both counts. Secretary for Commerce & Economic Development Algernon Yau said: “The World Trade Organization’s report fully demonstrated that despite the challenges brought about by geopolitics and trade protectionism in the past year, Hong Kong’s external trade remained resilient and achieved an encouraging result, making the city the world’s fifth-largest trading entity in merchandise trade after the Chinese Mainland, the United States, Germany and the Netherlands.” He also highlighted that Hong Kong, a predictable and transparent market, leverages institutional advantages under “one country, two systems” that allow it to be the most important and agile gateway for business and trade in the region. “The report also showed that a series of measures carried out by the Government for promoting trade, including expanding economic and trade networks, stepping up efforts in attracting […]

The Innovation, Technology & Industry Bureau today announced that the Business of Innovation & Technology Week (BIT Week) will take place this month. Jointly organised by the bureau and the Trade Development Council (HKTDC), BIT Week will comprise a series of major innovation and technology (I&T) events, including the flagship InnoEX event and the 2026 World Internet Conference Asia-Pacific Summit. The fourth InnoEX will be held from April 13 to 16 at the Convention & Exhibition Centre (HKCEC). Themed “Innovate • Automate • Elevate”, this year’s event will bring together I&T enterprises, industry elites and buyers to jointly promote the application of cutting-edge technology solutions in five key areas, namely “AI+”, robotics, the low-altitude economy, property technology and retail technology. It will also showcase over 100 robots from technology enterprises in Hong Kong, the Mainland and overseas. Another highlight of InnoEX will be the Smart Hong Kong Pavilion set up by the Digital Policy Office. The pavilion will showcase over 100 I&T solutions, including those developed by the Government, as well as award-winning I&T projects by local enterprises and students, demonstrating Hong Kong’s achievements in I&T and smart city development. In addition, the third Hong Kong World Youth Science Conference and the Xiangjiang Nobel Forum will be held from April 12 to 16 at the HKCEC. Top I&T talent from around the world – […]

The total value of retail sales in February, provisionally estimated at $35 billion, was up 19.3% 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 17.5% year-on-year increase. Online sales accounted for 8.5% of the total retail sales value in February. Provisionally estimated at $3 billion, the value of this segment rose 29% from the same month a year earlier. Meanwhile, the revised estimate of the total value of retail sales for January 2026 was 5.5% higher than that for a year earlier. For the first two months of 2026 taken together, it is provisionally estimated that the value of total retail sales rose 11.8% compared with the same period in 2025. Highlighting that retail sales tend to show greater volatility in the first two months of a year due to the variable timing of the Lunar New Year, the department said consumer spending in the local market normally reaches a seasonal high before the festival. Explaining that as the Lunar New Year fell on February 17 this year but on January 29 last year, it is more appropriate to analyse the retail sales figures for January and February taken together when making year-on-year comparisons. For the first two months of 2026 taken together, the value of online retail sales was 27.5% higher than that for the same period in 2025. The […]

The value of residential mortgage loans approved in February was $29 billion, a 10.8% decrease compared with January, the Monetary Authority announced today. Mortgage loans financing primary market transactions decreased 24% to $8.6 billion, while those financing secondary market transactions decreased 6.1% to $17.2 billion. Loans for refinancing increased 10.7% to $3.2 billion. Mortgage loans drawn down during February amounted to $16.4 billion, a 24.4% drop from January. The number of mortgage applications in February fell 7.5% month-on-month to 8,125. The outstanding value of mortgage loans rose 0.2% month-on-month to $1.9263 trillion at end-February.

The Government today announced the appointments of four senior officials. Commissioner for Tourism Angelina Cheung will assume office as Permanent Secretary for Financial Services & the Treasury (Financial Services) on May 26. She will succeed Salina Yan, who will commence pre-retirement leave. Commissioner for Transport Angela Lee will take up the post of Permanent Secretary for Commerce & Economic Development from April 1. On the same day, Deputy Secretary for Culture, Sports & Tourism Winnie Tse will take up the post of Commissioner for Transport. Meanwhile, Deputy Secretary for Constitutional & Mainland Affairs Raymond Sy will become Government Property Administrator on May 6. He will succeed Eugene Fung, who will commence pre-retirement leave. Commenting on the appointments, Secretary for the Civil Service Ingrid Yeung said: “The appointees are seasoned Administrative Officers with proven leadership and management skills. I have every confidence that they will continue to serve the community with professionalism in their new posts.” Mrs Yeung also thanked Ms Yan and Mr Fung for each rendering over 30 years of dedicated service to the community and making significant contributions to the Government. She wished them a fulfilling and happy retirement. She highlighted that Ms Yan, as Permanent Secretary for Financial Services & the Treasury (Financial Services), spearheaded a host of landmark policy initiatives aimed at safeguarding the […]

Hong Kong has maintained third place globally and continued to rank first in the Asia-Pacific in the Global Financial Centres Index 39 Report published today by the UK’s Z/Yen and the China Development Institute. Hong Kong’s overall rating in the report increased one point to 765. The rating gaps with first place, New York, and second place, London, were only two points and one point respectively. Hong Kong continued to rank first globally in fintech offerings. In the assessment by practitioners in various financial industry sectors, the city’s rankings generally improved. Notably, its rankings in the banking and finance sectors leapt to first place worldwide. Hong Kong also continued to top the global ranking in the insurance sector, while the investment management ranking rose to second place globally. In addition, the city’s rankings in the five areas of competitiveness, namely business environment, human capital, infrastructure, financial sector development, and reputational and general, continued to stay among the global top three positions. The Government said the report reaffirms Hong Kong’s leading position and strengths as an international financial centre. This year marks the beginning of the National 15th Five-Year Plan. As the world is evolving quickly, Hong Kong will respond to the current complex and ever-changing global political and economic landscape with an innovative mindset. At the same time, Hong Kong will proactively align with the […]

The Census & Statistics Department announced today the relocation of its headquarters to the Tseung Kwan O Government Offices, effective March 30. The new office is located at 9/F-16/F, South Tower, 30 Tong Yin Street, Tseung Kwan O. Service hours at the headquarters office will remain unchanged, 8.45am to 6pm, Monday to Friday, except public holidays. To facilitate the move, the current headquarters office at 16/F-22/F and 25/F, Wanchai Tower, 12 Harbour Road, Wan Chai, will close after service hours on March 27. Call 3863 2828, fax at 2802 4000 or send an email for enquiries.