Financial Secretary Celebrates Shanghai Commercial Bank's 75th Anniversary and Highlights Future Growth Opportunities

Speech by FS at kick-off ceremony of Shanghai Commercial Bank's 75th anniversary celebration (with photos/video)

Following is the speech by the Financial Secretary, Mr Paul Chan, at the kick-off ceremony of Shanghai Commercial Bank's 75th anniversary celebration today (November 7):

Stephen (Chairman of the Shanghai Commercial Bank, Mr Stephen Lee), Lincoln (Director of the Shanghai Commercial & Savings Bank, Mr Lincoln Yung), Wallace (Chief Executive of the Shanghai Commercial Bank, Mr Wallace Lam), distinguished guests, ladies and gentlemen,

Good afternoon. It is a great pleasure to join you today to kick off the 75th anniversary celebrations of the Shanghai Commercial Bank (SCB) in Hong Kong.

Just now, Stephen shared the history and proud tradition of the SCB. I'm pleased to see that throughout your development, you have remained true to the visionary mission back in 1915 - to serve the community, to support industries, and to foster international trade. They remain as relevant today as they were over a century ago.

Over the years, the Bank has built a strong reputation for serving small and medium-sized enterprises (SMEs) as well as high-net-worth individuals. I believe what sets the SCB apart is the close relationships it has fostered with its clients - one that is built on trust and long-term commitment.

I'm also pleased to see that the Bank is embracing innovation and playing a pioneering role in advancing financial inclusion. A prime example is your launch of Hong Kong's first SME online platform built on the Interbank Account Data Sharing and Commercial Data Interchange infrastructure - an initiative that streamlines the account opening and loan application process, improving access to credit for SMEs.

And you are going further. Through active participation in the CargoX project, the SCB is collaborating with public and private partners to integrate credit, logistics and cross-boundary transaction data to facilitate financing and payment solutions for SMEs venturing abroad.

Looking ahead, I believe the SCB is well positioned for continued growth. Under the roadmap outlined in the 15th Five-Year Plan recommendations by the CPC Central Committee, the country will continue to pursue high-level two-way opening up. More Mainland enterprises will expand their global presence, and many of them will use Hong Kong's top-notch financial and professional services. With strong connectivity across the Shanghai Banks network, the SCB is well placed to support these enterprises to go global.

At the same time, Hong Kong is fast emerging as the world's largest cross-boundary wealth management centre. The Government is working closely with the industry to strengthen our asset and wealth management ecosystem - by expanding product offerings, enhancing market liquidity and deepening connectivity with global markets. These developments will open up new growth opportunities for your bank, particularly given your strategic focus in this area.

Ladies and gentlemen, on this special occasion, let me once again extend my heartiest congratulations to the SCB on your 75th anniversary in Hong Kong. I wish the Bank continued success and prosperity in the years to come.

And before I close, let me take this opportunity to remind everyone: mark your diaries for December 7, the Legislative Council Election. Your vote matters for our city, and for our shared future. Thank you very much.

Speech by FS at kick-off ceremony of Shanghai Commercial Bank's 75th anniversary celebration (with photos/video) Source: HKSAR Government Press Releases

Speech by FS at kick-off ceremony of Shanghai Commercial Bank's 75th anniversary celebration (with photos/video) Source: HKSAR Government Press Releases

Speech by FS at kick-off ceremony of Shanghai Commercial Bank's 75th anniversary celebration (with photos/video) Source: HKSAR Government Press Releases

Source: AI-found images

TD urges public and visitors to plan cross-boundary trips early during long weekend of Easter and Ching Ming Festival holidays

The Transport Department (TD) announced today (April 1) that, in anticipation of a large number of members of the public, visitors and cross-boundary vehicles visiting land-based boundary control points (BCPs) during the long weekend of Easter and Ching Ming Festival holidays, cross-boundary travellers are urged to use public transport services travelling between Hong Kong and the Mainland or Macao, plan their trips early and allow sufficient travelling time.

Enhancing services for travel convenience

The TD has been steering local and cross-boundary public transport operators (PTOs) to strengthen their services during the long weekend of Easter and Ching Ming Festival holidays to accommodate the diverse travelling needs of passengers, including:

The MTR Corporation Limited will enhance the train services of the East Rail Line (ERL) between Admiralty and Lo Wu/Lok Ma Chau Stations at different times during the above period based on passenger demand for the convenience of residents and visitors;

Increasing the frequency of the Hong Kong-Zhuhai-Macao Bridge (HZMB) shuttle bus (Gold Bus) to an average of about one minute during peak hours, if needed;

Increasing the frequency of the Lok Ma Chau-Huanggang cross-boundary shuttle bus (Yellow Bus) to an average of about two minutes during peak hours, if needed;

Increasing the quota of cross-boundary coaches to strengthen services; and

The frequency of local franchised bus B routes connecting various land-based BCPs will also be increased to a level higher than that of normal weekends, and the operators concerned will reserve sufficient vehicles and manpower to meet passenger demand.

Travel during non-peak hours

It is anticipated that the waiting time for public transport services, including the Gold Bus and the franchised bus B routes, may be longer. Passengers are advised to travel during non-peak hours, maintain order while queuing and heed advice from on-site Police and staff of PTOs concerned. Passengers planning to take cross-boundary coaches are also advised to reserve their coach tickets in advance.

Of note, HZMB users to Zhuhai should note that the temporary link bridge connecting HZMB Zhuhai Port and Qinglu South Road has been closed to all traffic. They should use public transport services as far as possible, plan their trips early and allow sufficient travelling time. The traffic of Zhuhai Port and neighbouring roads may also be affected, and passengers should remain patient while waiting.

As for motorists of cross-boundary private cars crossing the border, they are advised that special traffic arrangements may be implemented at the Lok Ma Chau and the Shenzhen Bay Port, subject to actual traffic conditions, during the long weekend of Easter and Ching Ming Festival holidays to secure smooth access for public transport vehicles to the above BCPs. Cross-boundary private cars may experience longer waiting times for crossing the BCPs during peak periods. Motorists should pay extra attention to variable message signs and traffic signs along the roads. In case of traffic congestion, they should remain patient and follow the instructions of on-site Police.

Information dissemination

For the HZMB, to plan their journeys ahead, members of the public can make use of the TD's HKeMobility mobile app or website (hkemobility.gov.hk/en/traffic-information/live/cctv) to access snapshots of traffic conditions at inbound and outbound vehicle plazas of the HZMB Hong Kong Port. They can also check real-time situations of the vehicle clearance plaza of the Zhuhai Port through the WeChat official accounts "hzmbzhport" or "zhuhaifabu" (traffic-info.gzazhka.com:5015/#/) (Chinese only). Moreover, motorists are reminded to always comply with the traffic control measures implemented by the Zhuhai authority when driving on the HZMB Main Bridge. Vehicles must not occupy the emergency lane unless instructed by the Zhuhai authority.

The public and visitors may visit the one-stop information platform on immigration clearance "Easy Boundary" (www.sb.gov.hk/eng/bwt/status.html?type=outbound) of the Security Bureau or the HKeMobility for the latest information on various land-based BCPs more conveniently. The TD will provide information on the services and waiting times of the Gold Bus, the Yellow Bus and the MTR. Members of the public are advised to check the latest traffic news through radio and television broadcasts, the TD's website (www.td.gov.hk) and the HKeMobility.

The TD's Emergency Transport Co-ordination Centre operates round the clock to closely monitor the traffic conditions and public transport services of various districts, the BCPs and major stations, and to implement contingency measures when necessary to meet service demands.

Source: AI-found images