Hong Kong Welcomes 18 New Strategic Enterprises, Promising $50 Billion Investment and 20,000 Jobs

Speech by FS at OASES Enterprises Signing Ceremony (with photos/video)

Following is the speech by the Financial Secretary, Mr Paul Chan, at the OASES Enterprises Signing Ceremony today (April 8):

Representatives of our valued strategic enterprises, distinguished guests, ladies and gentlemen,

Good afternoon. It is my pleasure to join you all at this signing ceremony for OASES Enterprises.

Today, we celebrate the arrival of 18 new strategic enterprises in Hong Kong. These enterprises are engaged in artificial intelligence, life and health sciences, fintech and advanced manufacturing. Together with those in the previous batches, they will invest a total of about $50 billion in Hong Kong and create over 20 000 jobs in the coming years.

I'm particularly pleased to note that all these new arrivals have planned to establish global or regional headquarters, or research and development centres in our city.

Taking this opportunity, I wish to say to our new partners: We truly value your confidence in and commitment to Hong Kong. We treasure not only the investments, jobs and expertise that you bring, but also the solutions that will transform people's ways of life and inspire new innovation. Your very presence supports our vision of becoming an international innovation hub.

Beyond finance, trade and shipping, technological innovation is becoming another key engine propelling our future economic prosperity, creating quality jobs for our people and strengthening the resilience of our economy. This strategic development direction grows more urgent in today's complex geopolitical landscape.

 

Amid rising tides of unilateralism and protectionism, Hong Kong remains steadfast in our commitment to upholding our free-port status and free trade policy; ensuring the free flow of capital, goods, information and people; maintaining our simple and low tax system; and building a dynamic and vibrant I&T eco-system with a full range of funding support. Coupled with the best connectivity and seamless access to the Mainland and Asia markets, here is the best launchpad for realising your ambition.

Going forward, OASES will broaden its scope to attract also cultural and creative enterprises that can fuse innovation and technology with artistry. This sector, enriching lives, sparking joy and bridging cultures, is among the fastest growing in the world. How artistic toys and animations have captivated audiences globally is simply amazing. Through Hong Kong's platform, creative pioneers can indeed extend their reach across continents.

Once again, to our enterprise partners: Thank you for entrusting Hong Kong with your aspirations. My gratitude also extends to OASES and other government colleagues who have made our partners feel welcome and excited in doing business in this city.

I wish you all the best of business and health in the time ahead. Thank you very much.

Speech by FS at OASES Enterprises Signing Ceremony (with photos/video) Source: HKSAR Government Press Releases

Speech by FS at OASES Enterprises Signing Ceremony (with photos/video) Source: HKSAR Government Press Releases

Speech by FS at OASES Enterprises Signing Ceremony (with photos/video) Source: HKSAR Government Press Releases

Speech by FS at OASES Enterprises Signing Ceremony (with photos/video) Source: HKSAR Government Press Releases

Speech by FS at OASES Enterprises Signing Ceremony (with photos/video) Source: HKSAR Government Press Releases

Speech by FS at OASES Enterprises Signing Ceremony (with photos/video) Source: HKSAR Government Press Releases

Speech by FS at OASES Enterprises Signing Ceremony (with photos/video) Source: HKSAR Government Press Releases

HKSAR Government welcomes court's decision to dismiss Chow Hang Tung's application for judicial review on clothing policy for persons in custody

The Hong Kong Special Administrative Region Government welcomes the judgment handed down by the Court of First Instance of the High Court today (January 13) to dismiss Chow Hang Tung's application for judicial review on the clothing policy for persons in custody (PICs).

The court judgment pointed out that the current clothing policy for PICs, including the requirement for female PICs to wear trousers in summer daytime, was formulated by the Correctional Services Department (CSD) as authorised by the Prison Rules. The Court was satisfied that the CSD had the expertise and experience in the relevant context, and that it had carefully considered various factors, taken into account of professional opinion when making the decision, as well as reviewed the policy continuously. The Court ruled that Chow Hang Tung had failed to demonstrate that the current policy constituted less favourable treatment of a particular gender. The Court pointed out that there was currently no factual evidence to support any assertion that there was widespread concern about the health effects of wearing trousers in summer. In addition, the rule was not absolute, but instead allowed individual PICs to apply for exceptional arrangements in special circumstances. At the same time, the Court also rejected Chow Hang Tung's assertion that she had requested to the CSD in July and August 2024 to wear shorts and had been refused.

A spokesman for the Security Bureau said, "The ruling of the Court of First Instance confirmed that the CSD's approach is reasonable, justified and lawful. According to Rule 26 of the Prison Rules, the CSD must provide every PIC with a uniform that meets a scale imposed by the Commissioner of Correctional Services. Over the years, the CSD had appointed task groups from time to time to review the clothing arrangements of PICs. These reviews gave ample consideration to numerous factors, including the type of correctional institutions, PICs' varying daily routines and activities involved, the need for thermal, physical and psychological comfort for PICs of different genders, privacy and decency of PICs and the security, good order and discipline of the prison, so as to continuously refine clothing arrangements according to the prevailing circumstances."

The spokesman stated, "Chow Hang Tung's assertion that she requested to wear shorts in summer and was rejected by the CSD is entirely inconsistent with the facts and was rejected by the Court. Besides, the current clothing policy for PICs already provides a degree of flexibility. For example, a PIC may make an application to wear other clothing on medical or non-medical grounds to the CSD, and the CSD would make appropriate arrangements having considered the actual circumstances and relevant factors."

The CSD will continue to impartially implement the relevant rules of the Prison Rules in accordance with the law and commit to providing a secure, safe, humane, decent and healthy custodial environment.

Source: AI-found images