kakase/hk_gov_press_release huggingface dataset:
SCED shares insights on trade landscape under COVID-19 pandemic at Asia Trade Week 2021 (with photo)
22.2.2021

The Secretary for Commerce and Economic Development, Mr Edward Yau, gave a keynote interview at Asia Trade Week 2021, which is themed "Reviving trade: the way forward", today (February 22), sharing his insights on the trade landscape under the COVID-19 pandemic. During the online interview, Mr Yau said that the pandemic has brought an uneven impact on the trade in Hong Kong, as commodity trade has not been much affected but trade in services has taken a more heavy toll. Nevertheless, some areas such as financial services and information and technology have still achieved robust growth. Hong Kong's situation may resemble the situation globally. On relief measures provided by the Government to support enterprises in Hong Kong, Mr Yau talked about the two tranches of the Employment Support Scheme and four rounds of the Anti-epidemic Fund, which has provided targeted economic relief packages for hard-hit industries covering tourism, retail, and food and beverage. The Government has also rolled out and topped up the SME Financing Guarantee Scheme to provide cash flow relief to enterprises. The Scheme was well-received by SMEs, he said. Noting that most economies are still suffering from the economic recession caused by the pandemic, Mr Yau said that the pandemic would put pressure on operation costs on the way to economic recovery. And bigger challenges come from whether anti-pandemic measures will become an excuse for trade barriers and whether protectionist sentiments will happen to rise. However, there are good developments on the global trade scene. Citing the conclusion of the Regional Comprehensive Economic Partnership (RCEP), he said that high-standard free trade agreements could strengthen the multilateral trading system, enhance regional trade co-operation and remove trade barriers. Mr Yau stressed that Hong Kong stands ready to join the RCEP. Among the 15 economies of the RCEP, Hong Kong has had direct free trade agreements with 13 members including the Association of Southeast Asian Nations, Australia and New Zealand, on top of the Mainland and the Hong Kong Closer Economic Partnership Arrangement, which provides a very good platform for Hong Kong to start a meaningful and constructive discussion with RCEP members. Mr Yau said how widely e-commerce was adopted by all economies was very important to economic recovery as the pandemic has affected the movement of goods and people. It is an area where international trade organisations could seek further collaboration. Organised by The Economist Events, Asia Trade Week 2021 will be held from today to February 25. Policymakers, business leaders, trade negotiators, academics and economists will have discussions on major factors that will shape the future of trade in Asia and beyond.
SCED speaks on RTHK
4.2.2021

Following is the transcript of remarks by the Secretary for Commerce and Economic Development, Mr Edward Yau, on matters relating to Radio Television Hong Kong (RTHK) at a media session after attending the Chief Executive's Question and Answer Session at the Legislative Council today (February 4): Reporter: Is there any room for RTHK to make any mistakes at all, given that government officials make mistakes from time to time? Secretary for Commerce and Economic Development: I have made myself very clear. As a media organisation, be it RTHK or others, I think the general principle is that there should be accurate and impartial reporting. It is a very fundamental principle that should be upheld by all news agencies. There should not be any exception for RTHK, being a media (organisation). On the other hand, in the Charter (Charter of Radio Television Hong Kong), there is a requirement under Clause 7 asking RTHK, as a public service broadcaster, to uphold the highest professional standard of journalism in addition to being accurate and impartial (in reporting). I think this is a pledge that RTHK would need to uphold. The Government's stance is very clear, as a government department, news agency or a public service broadcaster, RTHK should maintain this very important principle. If there is any sort of inadequacy or any error being made, I think they should have the responsibility to clarify, to make good and also to apologise. After investigation of any complaint, if they consider the complaint not justified, then of course, (they could) also come out to stand up to the public, explain and also articulate their explanation. Of course, in addition to all those, RTHK is also subject to the scrutiny of the Communications Authority (CA) as far as complaints are concerned. There is also an established mechanism. In the past, we have seen the CA doing its job and RTHK giving appropriate responses. Thank you. (Please also refer to the Chinese portion of the transcript.)
Transcript of remarks by SCED at media session (with photo/video)
22.12.2022

Following is the transcript of remarks by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at a media session today (December 22) on the ruling made by the Panel established under the World Trade Organization's (WTO) Dispute Settlement Body on the origin marking requirement imposed on Hong Kong products by the United States (US): Reporter: The measure has been in place for around two years, can you actually quantify what is the financial impact it has had on Hong Kong manufacturers and businesses? My second question is, in May 2020, a man was arrested for breaching the trade descriptions law after selling face masks with the label "Not Made in China". Given that the Hong Kong Government opposes the mandatory "Made in China" label, can local manufacturers instead choose to label their goods "Not Made in China"? Secretary for Commerce and Economic Development: Let me answer your first question. For trade between Hong Kong and the United States, the total export (to the US) is only about 0.1 per cent of the (value of the) total export of Hong Kong, amounting to $7.4 billion, which is very minimal. The whole spirit is to uphold the status and position of the Hong Kong Special Administrative Region in the WTO as a separate customs territory. Even though the financial implication is minimal, it caused a lot of confusion to customers regarding "Made in Hong Kong" or "Made in China". It also caused unnecessary concern by manufacturers to separate the production into "Made in Hong Kong" and "Made in China" for doing their business. Regarding the second question, for all products going to be shipped to the United States, they have to fulfil the current restrictions imposed on us unnecessarily for customs clearance and declaration. Manufacturers and companies are fulfilling these requirements for the time being. We urge the United States Government to lift the restrictions as quickly as possible according to the recommendation and report by the Panel. Reporter: The US said it did not intend to remove the marking requirement, so what will be the follow-up actions by the Government? Secretary for Commerce and Economic Development: As said earlier, there is an appeal mechanism available in the WTO. If they do not agree with the report by the Panel, they can appeal through the Dispute Settlement Body within 60 days. If they do not appeal, then the report will be passed to adopt. If they appeal, we will pay attention to the development and the progress, and we will consider what action to be taken next. (Please also refer to the Chinese portion of the transcript.)
Secretary for Commerce and Economic Development undergoing home quarantine
8.12.2022

A spokesman for the Commerce and Economic Development Bureau said today (December 8) that the Secretary for Commerce and Economic Development, Mr Algernon Yau, is undergoing home quarantine in accordance with the guidelines of the Centre for Health Protection of the Department of Health, as a family member in his household has tested positive for COVID-19. Mr Yau will work from home during the quarantine period. âMr Yau has been taking COVID-19 nucleic acid tests regularly. He obtained negative results after conducting a nucleic acid test yesterday (December 7) and a rapid antigen test today. He has worn masks and followed relevant disease prevention measures at work.
Transcript of remarks by SCED at media session in Bangkok, Thailand
21.11.2022

Following is the transcript of remarks by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at a media session in Bangkok, Thailand, this afternoon (November 21): Reporter: Do you think there is any room for the Hong Kong authorities to offer some kind of concessionary policies to attract foreign businesses from Thailand because some businessmen said there may be too high cost for labour and land in Hong Kong? Secretary for Commerce and Economic Development: As announced in the Policy Address, the Hong Kong SAR (Special Administrative Region) Government is going to introduce a series of measures and policies to assist with the business settlement in Hong Kong, including land, tax, finance, education, visas, and set aside some funding as well for co-investment. These are the policies already announced in the Policy Address. (Please also refer to the Chinese portion of the transcript.)
SCED: APEC member economies need to intensify co-operation more than ever amid complex challenges (with photos)
17.11.2022

Notwithstanding the complex challenges posed by supply chain disruptions, inflation, geopolitical tensions, rising protectionism and social and environmental concerns, member economies of the Asia-Pacific Economic Cooperation (APEC) need to intensify co-operation more than ever. The Secretary for Commerce and Economic Development, Mr Algernon Yau, made the above remarks at one of the plenary sessions of the 33rd APEC Ministerial Meeting (AMM) in Bangkok, Thailand, today (November 17). At the plenary session themed "Open and Sustainable Trade and Investment", Mr Yau and ministers of 20 other member economies exchanged views on the state of global trade and how to maintain the momentum for open and sustainable trade and development. "A free and open trade and investment environment is the cornerstone of a dynamic economy, and has always been the bedrock of our city's development. It has been the case for the past 25 years since the establishment of the Hong Kong Special Administrative Region, and will continue to stay so for the years to come. "We will continue to strengthen external exchanges and bolster regional connectivity. Hong Kong is grateful for the support received thus far towards our accession request to the Regional Comprehensive Economic Partnership (RCEP), and we look forward to making contributions to further regional economic integration through early participation in this landmark free trade agreement," Mr Yau said. He added that Hong Kong will work with all member economies to expand the reach of these significant regional trade agreements as important and tangible steps towards the realisation of the Free Trade Area of the Asia-Pacific. On the sidelines of the AMM, Mr Yau met with Vice Minister of Commerce Mr Ling Ji to keep him abreast of the latest economic and trade developments in Hong Kong. He also had a meeting with the Minister for Trade and Export Growth of New Zealand, Mr Damien O'Connor, to exchange views on bilateral trade and issues of mutual concern. After his arrival yesterday (November 16), Mr Yau met with the Minister for Trade and Industry of Singapore, Mr Gan Kim Yong, to discuss various trade and economic issues.
Public consultation on re-assignment of spectrum in 850/900 MHz and 2.3 GHz bands launched
17.11.2022

The Secretary for Commerce and Economic Development (SCED) and the Communications Authority (CA) today (November 17) jointly launched a public consultation on the proposed arrangements for the re-assignment of 20 MHz of spectrum in the 850/900 MHz bands and 90 MHz of spectrum in the 2.3 GHz band for the provision of public mobile services as well as the related spectrum utilisation fee (SUF). The 20 MHz of spectrum in the 850/900 MHz bands is currently assigned to two mobile network operators (MNOs) for the provision of fourth generation mobile (4G) services, with the existing assignments due to expire in May 2026. The superb radio propagation characteristics of the spectrum in the 850/900 MHz bands is conducive to operators' provision of wide network coverage in a cost-effective manner. The 90 MHz spectrum in the 2.3 GHz band is currently assigned to three MNOs mainly for the provision of 4G services, with the existing assignment due to expire in March 2027. Apart from having good radio propagation characteristics for providing good network coverage, the spectrum in the 2.3 GHz band also has wider bandwidth capable of supporting higher transmission capacity. "As there are likely to be competing demands for the spectrum, the CA proposes to re-assign it by way of auction. Under the technology neutral approach, prospective spectrum assignees may make use of the spectrum acquired for the provision of 4G, 5G services, etc to meet the future demand for innovative mobile services and applications," a spokesman for the CA said. Similar to the other spectrum assigned for public mobile services by way of auction, the SCED proposes that the SUF should reflect the full market value, and will set the auction reserve prices nearer the time. "The auctioning of spectrum will ensure that such a scarce public resource be put into the hands of those who value it the most and will consequently put it to the most efficient use, thereby benefiting the general public at large," a spokesman for Commerce and Economic Development Bureau (CEDB) said. Views and comments from the industry and other interested parties on the consultation paper are welcome on or before December 15, 2022. After taking into account the views and comments received, the SCED and the CA target to make their respective decisions no later than May 2023, thereby giving a three-year or more advance notice to the incumbent spectrum assignees before the expiry of the existing assignments. The consultation paper can be downloaded from the websites of the CEDB ( www.cedb.gov.hk/assets/resources/cedb/consultations-and-publications/cp20221117_e.pdf ) and the CA ( www.coms-auth.hk/filemanager/en/content_711/cp20221117.pdf ).
Hong Kong to commence free trade agreement negotiation with Peru (with photos)
16.11.2022

The Secretary for Commerce and Economic Development, Mr Algernon Yau, arrived at Bangkok, Thailand, today (November 16) to attend the Asia-Pacific Economic Cooperation Ministerial Meeting. Soon after his arrival, Mr Yau met with the Vice Minister of Foreign Trade of Peru, Mr Miguel Palomino, and the two sides announced the formal launch of negotiations for a free trade agreement (FTA) between Hong Kong and Peru after the meeting. "To help Hong Kong enterprises and investors expand their markets, and further reinforce Hong Kong's status as an international trade and investment hub as well as our worldwide network of economic and trade connections, we have been actively seeking to forge FTAs and investment agreements with our trading partners," Mr Yau said. "Peru is Hong Kong's important trading partner in Latin America. I am confident that the FTA will help enhance the trade and investment ties between Hong Kong and Peru, and will bring mutual benefits to our two economies," Mr Yau added. The first round of the FTA negotiation will be launched in January 2023 and will cover subjects such as trade in goods, services, investment, electronic commerce, and small and medium-sized enterprises. The two sides reaffirmed their common aspiration to achieve a high-quality and comprehensive bilateral FTA. Hong Kong has so far signed eight FTAs respectively with the Mainland of China, New Zealand, the member states of the European Free Trade Association (i.e. Iceland, Liechtenstein, Norway and Switzerland), Chile, Macao, the Association of Southeast Asian Nations, Georgia and Australia. In addition to pursuing an FTA with Peru, Hong Kong has been actively seeking to accede to the Regional Comprehensive Economic Partnership and engaging in exploratory talks with other potential FTA or investment agreement partners.
CEDB briefs Trade and Industry Advisory Board on Policy Address (with photos)
24.10.2022

The Secretary for Commerce and Economic Development, Mr Algernon Yau, briefed members of the Trade and Industry Advisory Board on initiatives related to commerce and trade in "The Chief Executive's 2022 Policy Address" at a meeting today (October 24). Mr Yau said that the external economic environment in 2022 is still austere. In addition to the fallout from the COVID-19 epidemic, the costs of doing business and borrowing have increased while the investment and consumption sentiment has weakened in the face of high inflation and rising interest rates. Coupled with heightened geopolitical tensions, Hong Kong as an open economy will inevitably be affected. He pointed out that Hong Kong must continue to make the best endeavors to create strong impetus for growth and more room for development, leveraging the strengths of having the motherland's support. The Policy Address this year has therefore proposed a number of proactive and aggressive initiatives to compete for talents and enterprises with a view to strengthening the competitiveness of Hong Kong and exploring more opportunities. He briefed members on the work priorities for attracting enterprises and investment. These included taking forward the work of the Office for Attracting Strategic Enterprises and the Advisory Committee on Attracting Strategic Enterprises, as well as expanding the functions of the overseas Economic and Trade Offices by setting up Dedicated Teams for Attracting Businesses and Talents to proactively reach out to target enterprises and talents to attract them to Hong Kong. Mr Yau also highlighted the support measures for small and medium enterprises (SMEs) in the Policy Address. The cumulative funding ceiling per enterprise under the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) will be raised from $6 million to $7 million. Moreover, the cumulative funding ceiling per enterprise under the SME Export Marketing Fund will be raised from $0.8 million to $1 million, while the special measure to expand its funding scope will also be extended to June 2026 to continue to cover exhibitions and online exhibitions targeting the local market, and the eligibility criteria will be relaxed to cover non-SMEs. To ease the repayment pressure of SMEs, the application period of the principal moratorium under the SME Financing Guarantee Scheme will be extended for six months to end June 2023, with the maximum duration up to 42 months. On the convention and exhibition industry, the Convention and Exhibition Industry Subsidy Scheme will be extended to end June 2023. A new $1.4 billion scheme will be launched in July 2023 to subsidise more than 200 recurrent exhibitions to be staged in Hong Kong over three years.
Transcript of remarks by SCED at media session (English only)
21.10.2022

Following is the transcript of remarks by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at a media session after attending a radio programme this morning (October 21): Reporter: What market reactions have you received over the measures you proposed in the Policy Address about attracting enterprises? Are there any plans to promote the latest measures to enterprises outside Hong Kong? Secretary for Commerce and Economic Development: Regarding your question, we are going to set up an office to attract strategic enterprises, which will be headed by the Financial Secretary. To support this function, the overseas (Economic and Trade) Offices and the offices in the Mainland will set up a unit to look after how to acquire companies and talents. In addition to that, we are going to set up an advisory committee to provide advice to the Financial Secretary regarding what strategic industries or enterprises we are going to target. That will be completed by the end of this year. Once it is completed, we will start our action by early 2023. Before that, we may not have the list on hand at this moment, but we are going to finalise it as quickly as possible.
SCED: Hong Kong will be Cambodia's prime partner in tapping vast business potential (with photos)
18.9.2022

The Secretary for Commerce and Economic Development, Mr Algernon Yau, met with the Cambodian business sector today (September 18) to promote Hong Kong's business opportunities after attending the 6th Association of Southeast Asian Nations (ASEAN) Economic Ministers-Hong Kong, China Consultation in Cambodia. Speaking at a luncheon to celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region in Phnom Penh, Mr Yau said to more than 400 participants that with the implementation of the innovative principle of "one country, two systems", and the staunch support of the Central People's Government, Hong Kong has developed into a world-class city in Asia in the past 25 years. Quoting President Xi Jinping's important speech delivered on July 1, Mr Yau shared his insights with the participants on Hong Kong's distinctive role and advantages under "one country, two systems". He said that Hong Kong will continue to leverage the unique strengths to enhance its status as an international trade centre under the National 14th Five-Year Plan, and strive to develop into a regional intellectual property trading centre and the premier telecommunications hub of Asia. "As we actively integrate into the national development strategies, including the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) development and the Belt and Road Initiative, we stand ready to working closely with our partners in the region, including those in Cambodia, to capture the unprecedented business opportunities", he added. "With our free economy, a low and simple tax system, well-established infrastructural connectivity, a market-oriented and international business environment, as well as our free trade agreement with ASEAN, Hong Kong will definitely be Cambodia's prime partner in tapping the vast business potential in the GBA, in Mainland China and beyond in many more years to come." The luncheon drew attendance from a wide spectrum of the Cambodian community covering business, political and diplomatic sectors, including the Chinese Ambassador to Cambodia, Mr Wang Wentian; the Chairman of the Constitutional Council of Cambodia, Mr Ek Sam Ol; the Chairman of Hong Kong Business Association of Cambodia, Mr Jesse Choi; and other business leaders and government officials. On his last day in Cambodia, Mr Yau also visited two Hong Kong enterprises with a wide range of businesses to get a better understanding of their operation and development, and the investment opportunities in Cambodia. Mr Yau will return to Hong Kong this evening.