Speech by DSJ at International Symposium on Global Corporate Restructuring Center
Following are the opening remarks by the Deputy Secretary for Justice, Dr Cheung kwok-kwan, at the International Symposium on Global Corporate Restructuring Center today (July 6):
The Honourable Professor Leung (Hong Kong Special Administrative Region (HKSAR) Deputy to the National People's Congress, Member of the HKSAR Basic Law Committee of the Standing Committee of the National People's Congress and Member of the Legislative Council, Professor Priscilla Leung) , Dr Sun Jin (Director-General of the International Organization for Mediation Preparatory Office), distinguished guests, ladies and gentlemen,
Good morning. It is my honour to join this International Symposium on Global Corporate Restructuring Centre. We all know that today's global economy is interconnected yet volatile. In order to maintain financial stability and investor confidence, we must keep abreast with market changes and cope with the need of cross-border businesses.
Corporate restructuring is inherently a crucial strategic tool wielded in financial distress, which is vital for survival, renewal and resilience of the businesses. Indeed, successful restructuring preserves value of the businesses. Successful restructuring protects jobs of the employees. Successful restructuring instills confidence of the creditors. In short, successful corporate restructuring allows businesses to navigate adversity and becomes stronger for sustainable growth.
Hong Kong is unique in the sense that it is the only common law jurisdiction in China and is deeply integrated with the Mainland market. It is therefore ideally positioned as a global centre for corporate restructuring. Now, I would like to outline how Hong Kong's legal system delivers unparalleled advantages for business and investment, corporate restructuring and dispute resolution across Asia and beyond.
The Foundation: "one country, two systems" and Common Law
Hong Kong's distinctiveness lies in the framework of "one country, two systems", which preserves the common law system which is highly regarded by international community and reinforce our unique position to bridge the East and the West. This is not just theoretical - it translates into tangible expertise through our 13 000 solicitors and barristers, 560 Hong Kong lawyers licensed to practice in the Greater Bay Area (GBA), as well as 1 500 registered foreign lawyers, many of whom are multilingual and qualified in multiple jurisdictions. The accounting profession also plays a crucial role in corporate restructuring. We currently have over 6 500 establishments providing accounting, auditing and tax consultancy services. The Hong Kong Institute of Certified Public Accountants boasts a membership of over 47 000, who are recognised globally in such diverse places as Australia, Canada, England and Wales, South Africa etc.
What does this mean? When international investors face cross-border restructuring or insolvency, they can count on our professionals who master common law principles and international standard as well as the complexities of the Mainland market.
Connectivity: Mutual Legal Assistance
Such expertise is amplified by Hong Kong's unmatched connectivity with the Mainland, offering effective pathways through nine mutual legal assistance arrangements in civil and commercial matters.
Consider this: a European investor restructuring a Mainland-based joint venture could gain critical tools simply by choosing Hong Kong.
Firstly, in assets preservation, businesses may obtain Mainland court orders to freeze assets or preserve evidence — a relief which is not available for arbitration seated in common law jurisdiction other than Hong Kong.
Secondly, in direct enforcement: Businesses may enforce Hong Kong arbitral awards and court judgments in the Mainland, the coverage of which is the widest globally, including judgments on intellectual property rights which are not covered in international conventions.
Thirdly, streamlined restructuring and liquidation: A Hong Kong-appointed liquidator can access Mainland courts in Shenzhen, Shanghai and Xiamen to take control of the company's assets and records in the Mainland, facilitating an effective corporate restructuring or at times, winding up.
This seamless integration makes Hong Kong the optimal choice for business and investment and also cross-border restructuring with Mainland elements.
Dispute Resolution: Arbitration and the New Era of Mediation
Our advantages also extend to dispute resolution. The evidence is compelling — Hong Kong ranked globally number two as an arbitration seat under the 2025 Queen Mary University of London and White & Case International Arbitration Survey; last year, over 76 per cent of the cases handled by the Hong Kong International Arbitration Centre were international, with claims averaging HK$375 million, reflecting international trust in Hong Kong's role in high-stakes cases.
We recognise that modern challenges require diverse solutions, which is why we are promoting mediation in the Greater Bay Area. The recent establishment of the International Organization for Mediation (IOMed) in Hong Kong highlights this commitment, as the city positions itself as the capital of mediation.
In terms of local capacity building, we have generally mandated mediation clauses in government contracts and have been enhancing training of mediators.
For regional integration, we are closely collaborating with our GBA partners to deploy Hong Kong mediation organisations to handle commercial mediation cases as referred to by the GBA courts; export Hong Kong's best practice to develop GBA standard, including specialised mediation rules; and establish a unified GBA Mediators Panel for cross-border expertise.
The Greater Bay Area: Where Policies Meet Practice
These initiatives reflect Hong Kong’s strategic role in the GBA. Innovative policies have created unprecedented opportunities.
For example, a Shenzhen company with Hong Kong shareholders of any investment ratio can now choose Hong Kong law to govern contracts, and choose Hong Kong as the arbitration seat. And the impact is visible: international investors can benefit from comprehensive legal protection under Hong Kong's common law regime while navigating in Mainland's dynamic markets with certainty and efficiency.
In an era of growing complexity, businesses need to anchor in a jurisdiction that offers stability and connectivity. Hong Kong delivers precisely this – a common law system integrated with the world's second largest economy, powered by world-class professionals conversant in global commerce and a robust and reliable dispute resolution mechanism.
Ladies and gentlemen, I am sure you would fully explore the China advantages and the international advantages offered by Hong Kong in today's Symposium. The Government will continue to solidify Hong Kong's role as the premier global hub for business and investment. We support business ventures at every stage – from set-up, financing, management and operation to disputes resolution and restructuring.
On this note, I wish this Symposium every success. Thank you very much.
Speech by DSJ at International Symposium on Global Corporate Restructuring Center Source: HKSAR Government Press Releases
Government implements multiple measures to promote smart, green and modern logistics development
The Transport and Logistics Bureau (TLB) announced today (January 16) the implementation of various measures, including the formal rollout of the Port Community System (PCS) and Environmental, Social and Governance (ESG) Data Collection Tools, as well as the release of the findings of the planning study on the development of a modern logistics cluster in Hung Shui Kiu/Ha Tsuen New Development Area (HSK/HT NDA), with a view to promoting the smart, green, sustainable and modern development of Hong Kong's logistics industry through a multipronged approach.
The Transport and Logistics Bureau (TLB), Photo by Bastille Post
The Secretary of Transport and Logistics, Ms Mable Chan, said, "Our country has long been providing solid backing for Hong Kong's maritime development. The Recommendations for Formulating the 15th Five-Year Plan (FYP) recently promulgated have clearly stated the objective of consolidating and enhancing Hong Kong's status as an international maritime centre. The Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area also mentioned the active implementation of various measures to promote Hong Kong's maritime development. Since the Action Plan on the Modern Logistics Development (the Action Plan) has been promulgated for two years, with the full co-operation of the industry, we have completely implemented all action measures and been leading the Hong Kong logistics industry's transition towards high technology adoption and sustainable growth, thereby enhancing the industry's international competitiveness. We will continue to follow the guidance of the Recommendations for Formulating the 15th FYP, leverage Hong Kong's unique advantages of enjoying strong support of the motherland and being closely connected to the world to maintain our position as the region's leading international logistics hub, thereby better integrating into and serving the overall national development."
The logistics industry is one of the pillar industries of Hong Kong. To promote the sustainable and high-quality development of the industry, the Government promulgated the Action Plan in 2023, which formulated eight strategies and 24 action measures to assist the industry in embracing the new era of smart, green and modern logistics. Apart from a number of subsidy schemes to assist the industry in upgrading their operations by adopting smart and green logistics solutions and taking relevant training courses, as well as release land parcels to meet the industry's demand for premium logistics sites in the short to medium term, the Government is also working at full steam to build the new image of modern logistics as "smart, innovative, high-end" and reach out to young people on campus through the Curriculum on Logistics Industry and internship scheme, among others in order to attract young people to join the industry. Externally, on one hand, we commenced logistics co-operation with Guangxi, Chongqing and Chengdu with a view to exploring new cargo sources for Hong Kong. On the other hand, we enhanced overseas promotions to explore business opportunities together with the industry in Belt and Road countries.
PCS
In terms of smart logistics, the PCS, a critical digital infrastructure developed by the Government with over $200 million in funding, was formally rolled out today. It marks a significant milestone for the digital transformation of Hong Kong's port and logistics development.
The system provides one-stop, round-the-clock, real-time cargo tracking and links up sea, land, and air transport networks, thereby holistically enhancing the transparency, efficiency and interconnectivity of the logistics chain. Apart from its core function of real-time cargo tracking, the system will also offer value-added electronic services such as the "One-Data-Multiple-Declarations" function. By facilitating cargo import and export declarations by the industry, the system will provide one-stop services for local logistics and trading companies, thereby supporting the upgrading of the industry.
At today's PCS rollout ceremony, the TLB also signed a tripartite Memorandum of Understanding with the Logistics and Supply Chain MultiTech R&D Centre and a local logistics start-up company, FUNDel, to accelerate the connection between the PCS and data platforms of the logistics industry, as well as study the utilisation of the trusted cargo flow data on the PCS to help financial institutions assess trade finance applications filed by relevant logistics small and medium-sized enterprises (SMEs), thereby supporting the sustainable development of the logistics industry.
Findings of the planning study on the development of Hung Shui Kiu/Ha Tsuen modern logistics cluster
The findings of the planning study on the development of a modern logistics cluster in the HSK/HT NDA were also announced today. To address the industry's long-term demand for logistics sites, the Government proposed to develop modern logistics clusters in the HSK/HT NDA. The relevant planning study commenced in March 2024 and was completed at the end of 2025.
After conducting a comprehensive consultation with the trade and considering comments from various stakeholders, the study suggests that the logistics cluster should adopt three major development directions, namely be "enterprise-oriented", have a "market-enabling environment" and an "innovative approach to drive industry development". It also suggests measures such as providing tailor-made entry terms for anchor enterprises and increasing the flexibility of development modes, with a view to ensuring the development of the logistics cluster meets the trends and demands of the market.
The TLB plans to invite the industry to submit expressions of interest for the first logistics cluster site this year, and will draw up the relevant land lease terms and development mode after taking into account the intents of the industry to ensure that they keep pace with industry's development needs.
The Study Report has been uploaded to the website of the planning study on the development of a modern logistics cluster in HSK/HT NDA (www.lc-hskht.hk).
ESG Data Collection Tools
ESG is a new international development trend for the logistics trade. Further to the Government's announcement of the Roadmap for ESG Development for Logistics Industry in June 2025 which has outlined a clear way forward for adopting ESG by logistics SMEs, the TLB today further released a set of ESG Data Collection Tools (the Toolkit) tailored for logistics SMEs, with a view to assisting them in taking the first step towards putting ESG into practice.
The Toolkit includes a user-friendly data collection template, a data dictionary and a user manual. It aims to equip SMEs with the ability to collect and record ESG data early and use the collected data to prepare ESG data reports that fulfil international ESG disclosure requirements. In the long run, logistics SMEs may even utilise the data for reviewing and improving their ESG performance, thereby helping to build up Hong Kong logistics industry's sustainability credentials and enhance its competitiveness. Interested companies may register at the ESG Resource Centre on the website of Hong Kong Logistics Development Council (www.logisticshk.gov.hk/en/ESG/ESG_collection.php) to obtain the Toolkit for free.
The TLB will continue to closely liaise and co-operate with the industry, and further consolidate and enhance Hong Kong's status as an international logistics hub through various policies and measures. The Government will also ensure that the logistics industry will maintain its edge in the international market and drive the development of trading and maritime industries at the same time by seizing the enormous opportunities brought by national and regional development, thereby promoting the high-quality development of Hong Kong's economy.
The future development of a modern logistics cluster in Hung Shui Kiu/Ha Tsuen New Development Area (HSK/HT NDA), Photo source: the official website of the Lands Department
