Paul Chan Highlights Hong Kong-Italy Ties at Italian Chamber Gala Dinner

Speech by FS at Gala Dinner of Italian Chamber of Commerce in Hong Kong and Macao

Following is the speech by the Financial Secretary, Mr Paul Chan, at theGala Dinner of the Italian Chamber of Commerce in Hong Kong and Macao today (November 7):

Ambassador Ambrosetti (Ambassador of Italy to China, Mr Massimo Ambrosetti),Consul General Ficarra (Consul General of Italy to Hong Kong and Macao, Mr Carmelo Ficarra), Ambassador Harvey Rouse (Head of the European Union Office to Hong Kong and Macao), Mr Davide De Rosa (President of the Italian Chamber of Commerce in Hong Kong and Macao), distinguished guests, ladies and gentlemen,

Buona sera. Good evening. It is truly a pleasure to join you once again at the Annual Gala Dinner of the Italian Chamber of Commerce. This is a splendid and memorable evening - a celebration of enduring friendship, warm company and great fun, as well as a valuable opportunity for networking and forging deeper co-operation.

This evening reminds me of the many qualities that connect Hong Kong and Italy - not just by fine cuisines, great wines and designer handbags, but also by our shared passion for creativity, craftsmanship and elegance. Whether it is the style and sophistication of Italian design, or the dynamism of Hong Kong's business and cultural scenes, we are both driven by a relentless pursuit of excellence.

Last year at this very dinner, I spoke about Hong Kong's role as the gateway to the Chinese Mainland and the broader Asian region. Tonight, I would like to expand on that, particularly in light of the global geoeconomic landscape and China's development strategy.

Despite shifting tides of geopolitics, Hong Kong continues to be open, welcoming, and firmly committed to free trade and investment. Under the "one country, two systems" framework, we proudly serve as a "super connector" and "super value-adder", linking businesses, capital, people, ideas and opportunities across borders.

This strategy has proven to be both right and rewarding. We are seeing renewed confidence and optimism in Hong Kong by global investors and businesses. The remarkable surge in our stock market, and growing international recognition of Hong Kong's strengths and competitiveness, are clear and encouraging indicators of this positive development.

We continue to be ranked as the world's freest economy, and we stand among the top three global financial centres. We came third globally in international competitiveness according to the IMD (International Institute for Management Development). Earlier this year, all three major international credit rating agencies reaffirmed Hong Kong's strong credit ratings.

These encouraging recognitions motivate us to go further and to chart new frontiers.

Last year, I also shared about Hong Kong's commitment to innovation and technology. We stay on course, striving to build an even more vibrant technology sector to drive our next phase of growth. That will diversify our economic structure and provide more quality career opportunities for our people. Our focus is on AI and data science, biotech, fintech, new energy and new materials - areas that we hold clear competitive advantages.

And the carrier of our vision is the Northern Metropolis. We are accelerating its development through two major approaches.

First, policy innovation. We are dismantling barriers and embracing bold, flexible development models - such as large-scale land disposals - to fast-track integrated development of land, infrastructure and industries. More flexible, tailor-made incentive packages will be offered to attract top-notch global enterprises.

Second, further deepening cross-boundary collaboration with other cities in the Greater Bay Area. The Shenzhen-Hong Kong co-operation zone is a focal point, with innovative policies. For example, seamless flow of capital, goods, talent, data and even biosamples in this zone, plus a streamlined regulatory process to shorten the time to market of drugs and medical devices developed there. This zone will be very attractive to firms in AI, biotech and pharmaceutical products.

Italian companies and start-ups are most welcome to be part of this exciting journey. Set up your R&D (research and development) centres here. Collaborate with our universities and research institutions. Establish advanced manufacturing facilities. Explore our thriving innovation and technology ecosystem.

Above all, we invite Italian businesses to make use of Hong Kong as your platform to expand into the Chinese Mainland and the broader Asian region. And our vibrant financial sector stands ready to help them in raising the funds needed to support their business expansion.

As China advances its high-level two-way opening up, we are elevating our strategic role as a two-way platform - helping Hong Kong and Mainland businesses go global, while helping foreign businesses to seize the opportunities in China and Asia through our city.

I am delighted to share that later this month, I will lead a high-level business delegation to Milan. The delegation will include representives from the Government and related public organisations, business associations, and about 30 to 40 Hong Kong and Mainland enterprises from sectors such as finance, medical and health, green and sustainability, transport and logistics, as well as professional services.

We will be there to explore partnership opportunities with Italian businesses - to invest in Italy, expand further into Europe, and help bring more Italian businesses into the immense opportunities of China and Asia.

Before I close, allow me to express my heartfelt gratitude to the Italian Chamber of Commerce and the Italian Consulate-General for your steadfast support and partnership over the years. Your efforts have played a vital role in strengthening the ties and friendship between our communities, and fostering more collaboration in business and cultural exchanges.

May your businesses flourish, your connections grow stronger, and may our friendship continue to deepen and thrive.

Grazie. Thank you.

Source: AI-found images

Speech by FS at Gala Dinner of Italian Chamber of Commerce in Hong Kong and Macao Source: HKSAR Government Press Releases

Speech by FS at Gala Dinner of Italian Chamber of Commerce in Hong Kong and Macao Source: HKSAR Government Press Releases

Source: AI-found images

Government responds to Ombudsman's direct investigation report on private man-made slopes

In response to the direct investigation report published by the Office of The Ombudsman (the Ombudsman) today (June 29), the Lands Department (LandsD), the Civil Engineering and Development Department (CEDD), and the Buildings Department (BD) expressed gratitude to the Ombudsman for its detailed review of the Government's work regarding the determination of slope maintenance responsibilities and the risk management of private man-made slopes, and accepted all the recommendations therein. In response to the observations and recommendations made by the Ombudsman during the investigation process, the three departments had earlier proactively introduced and implemented a number of improvement measures. They will further strengthen the safety management of private man-made slopes through four key areas: maintenance responsibility determination, safety screening, enforcement and rectification, and inter-departmental collaboration.

There are about 61000 man-made slopes in Hong Kong, of which about 16000 are private man-made slopes, and over 6000 are slopes with mixed maintenance responsibilities (i.e., slopes managed by both the Government and private owners for their respective portions). As noted by the Ombudsman in the report, regular inspection and maintenance of private man-made slopes are the responsibility of the owners, while the Government primarily implements slope management work through three departments. First, the LandsD is responsible for determining maintenance responsibilities. Second, the CEDD conducts safety screening and identifies dangerous slopes. Third, the BD takes enforcement actions to rectify hazards, including issuing Dangerous Hillside Orders for dangerous slopes or executing default works on behalf of owners.

The three departments have taken proactive steps over the past period to execute concrete measures and have so far addressed most of the improvement recommendations in the report. The follow-up actions on the Ombudsman's major recommendations include:

Clarifying maintenance responsibility early and informing owners proactively

To enable private owners to fulfil their slope maintenance responsibilities as early as possible, the LandsD has implemented various measures to expedite processes, including streamlining determination procedures, enhancing communication and information sharing with relevant departments, setting target processing time for cases of varying complexity, and strengthening the monitoring on consultancy firms. Since the second half of 2025, the determination of maintenance responsibility for man-made slopes newly formed or modified could generally be completed within six months, demonstrating a significant improvement in efficiency. In addition to uploading determination results to the Slope Maintenance Responsibility Information System, the LandsD will notify private owners concerned promptly. For cases already been determined, the LandsD will issue notification letters to private owners concerned by batches, with the first batch expected to be issued by phases starting from the second half of the year.

Enhancing safety screening studies and strengthening owner education and support

Starting from 2025, the CEDD is progressively increasing the number of safety screening studies for private slopes from 100 to 130 per year over a three-year period. The department will also launch the Smart Slope Catalogue within this year. This catalogue integrates records of preventive works, maintenance, rainfall, and landslides, and applies Artificial Intelligence for big data analysis to select slopes for safety screening studies with higher precision. Furthermore, the department will step up public education and technical support for owners. For example, for slopes that are not classified as dangerous after screening studies but show signs of inadequate maintenance, the CEDD will issue advisory letters to owners as appropriate, pointing out specific issues and providing advisory services, including necessary maintenance recommendations, to embody the management philosophy of prevention first.

Accelerating the issuance of repair orders and follow-up on compliance

For cases that are clear in nature and relatively simple, the BD has shortened the target time for issuing repair orders to three months. If a slope is found to pose an imminent danger, the BD will immediately arrange for government contractors to carry out emergency works. To assist owners in complying with repair orders, after issuing a repair order, the BD will proactively arrange site inspections with owners to provide explanations, attend owners' meetings to offer technical advice, and introduce financial support schemes such as the Building Safety Loan Scheme. These measures ensure that case follow-up would not be a one-way punitive process, but rather a comprehensive approach combining guidance and assistance. For cases where compliance is overdue, the Department has, since the end of last year, used its departmental information system to automatically generate reminder and warning letters, thereby enhancing enforcement efficiency. The BD has also streamlined its prosecution procedures, with internal guidelines clearly stipulating the criteria for further prosecution and target processing time. The Development Bureau has also proposed amendments to the Buildings Ordinance to increase penalties for non-compliance, and plans to submit a bill to the Legislative Council for consideration by the end of this year.

Enhancing mechanism for effective handling of complex cases

The BD has established various committees to monitor the progress of outstanding repair orders and default works carried out on behalf of owners, as well as the performance of consultancy firms and government contractors. The BD is currently exploring ways to optimise the Building Condition Information System to enable classification of complex cases through the system, with progress monitored via regular meetings and various committees. Staff have also been reminded to deploy social worker teams in a timely manner to assist owners in need. The BD will continue to work with the CEDD and LandsD to establish a regular mechanism for information sharing and follow-up, and will discuss follow-up actions at co-ordination meetings. Furthermore, the BD will compile a list of frequently encountered issues and difficulties in complex cases to enhance communication with industry practitioners and improve the efficiency of the approval process.

Accelerating the completion of default works

For cases of non-compliance with no substantive progress, the BD will, while taking prosecution action, arrange default works for slopes with immediate safety risks. Through proactive intervention by the BD, the number of default works cases has significantly increased from 22 in 2023 to 40 in 2024 and 66 in 2025. Over the past five years, default works have been completed for more than 150 repair orders, with full cost recovery from the owners.

Streamlining permission applications for works on government land

For cases where the BD has to enter a government land to carry out default works on private man-made slopes, the LandsD has streamlined procedures by granting the Simplified Temporary Government Land Allocation to the BD by way of block approval, eliminating the need to submit individual applications for each default works project, so that the default works could be carried out as early as possible. Between May 2025 and March 2026, 18 default works projects were accelerated under this measure.

The LandsD is also liaising with the BD to optimise the handling procedures for owners and their appointed professionals to enter government land to carry out works. The LandsD plans to introduce new arrangements, such as providing the application form and guidelines to owners at the time when they have been issued with a Dangerous Hillside Order, so that the repair works on private slopes can be commenced as soon as possible.

Strengthening inter-departmental collaboration

The LandsD has joined the high-level working group and regular meeting mechanisms previously established by the CEDD and BD to strengthen tripartite collaboration, swiftly resolve complex cases and disputes over rights and responsibilities, and ensure that essential slope repairs or emergency works are not delayed by such disputes. The LandsD established a new inter-departmental online platform in December 2025, enabling departments to exchange views in real-time on the content of determination reports after these being uploaded by consultancy firms, thereby enhancing overall operational efficiency. The departments will also continue to co-operate with the property management industry. Apart from encouraging property management companies to help owners co-ordinate slope maintenance and comply with Dangerous Hillside Orders, they will organise briefing sessions on technical guidelines, seminars, and exhibitions to strengthen public education and professional support.

The LandsD, CEDD, and BD will continuously review the operation of the entire private man-made slope safety management system, from maintenance responsibility determination to risk screening, and then to enforcement and rectification, strengthening inter-departmental collaboration to elevate the safety level of private man-made slopes and safeguard public safety.

Source: AI-found images