Flexible handling of Government fees and bills of residents of Wang Fuk Court in Tai Po
In view of the fire at Wang Fuk Court in Tai Po, the Chief Executive has instructed all government departments to be considerate to the residents of Wang Fuk Court, and to provide as much support as possible to them by flexibly handling relevant government fees and bills.
Following this principle, the Immigration Department has waived service charges for residents to replace their identity documents; all injured individuals admitted to public hospitals under the Hospital Authority will receive full fee waivers for all necessary healthcare services (including drugs and medical devices) throughout the entire process of their treatment and rehabilitation; and the Food and Environmental Hygiene Department will waive fees for columbarium and related services.
A Government spokesperson said today (December 3), "In order to ease the financial burden on residents of Wang Fuk Court in Tai Po and the families of the deceased during this difficult time, we will waive the affected property owners' and residents' unsettled balance of tax payable for the year of assessment 2024/25 and the provisional tax payable for the year of assessment 2025/26. In other words, they will not need to settle the tax demand notes issued for the year of assessment 2024/25. We will also pay the Government rent on behalf of the affected property owners and residents and waive the rates for domestic tenements that became inhabitable due to the fire.
"In addition, we will waive the residents of Wang Fuk Court in Tai Po the water and sewage charges of July to November this year. Regarding electricity tariffs and telecommunications service fees, we appreciate the relevant organisations which have offered various support services to the residents of Wang Fuk Court in Tai Po. For instance, CLP Power Hong Kong Limited has waived the electricity tariffs of November for the affected customers and will arrange deposit refunds to them as soon as possible. Various telecommunications operators have also provided assistance to the affected customers such as offering services fee waivers, free rental of smart phones and free pre-paid SIM cards. In addition, Sinopec (Hong Kong) Gas Company Limited has offered a full waiver of liquefied petroleum gas bills of November for all affected customers."
Speech by FS at CUHK EMBA Annual Conference
Following is the speech by the Financial Secretary, Mr Paul Chan, at the CUHK EMBA Annual Conference today (May 9):
Professor Dennis Lo (Vice-Chancellor and President, the Chinese University of Hong Kong (CUHK)), Professor Lin Zhou (Dean, CUHK Business School), Macy (Chairperson of Organizing Committee, Ms Macy Chan), Michael (Chairperson of Organizing Committee, Mr Michael Chan), CUHK EMBA alumni and students, business leaders, distinguished guests and friends,
Good evening.
Addressing a room full of Executive MBA students and graduates is both an honour and a privilege. There is a particular kind of ambition in this room — one that is not content with success alone, but driven to understand it more deeply, in the belief that better ideas lead to greater impact.
That kind of commitment — to learning, to growth, to asking harder questions — is precisely what today's conversation is about.
The theme of this conference, which focuses on innovation and agile leadership, could not be more timely. Most of us here have lived through the Internet age and the smartphone revolution, which made communication faster and more seamless than anyone had imagined.
Today, the rise of AI places us at a more fundamental tipping point. Technology is not merely changing the answers — it is redefining the questions themselves.
Consider what is already within reach. An AI assistant can learn your preferences, curate a personalised shortlist, and simply ask for your confirmation. We should even ask whether the smartphone and the search engine will remain our primary gateways to the digital world, or whether something altogether new is already taking shape.
To draw an analogy, the power of technology does not lie in drawing the old map with greater precision. It lies in revealing how much of that map remains uncharted — and in showing us that entirely new maps, with new co-ordinates, are being drawn.
This redefinition is unfolding across three dimensions simultaneously.
First, the redefinition of products. Products are no longer discrete, standalone objects. A smart car is a vehicle, but also a mobile platform for data. An insurance policy can be a contract, but equally a dynamic reflection of health data. Innovation today is born from cross-sector convergence and continuous evolution.
Second, the redefinition of services. Services are no longer delivered solely by enterprises. They emerge from collaborative networks of people and AI. But the more profound shift is in what customers now expect. In the past, good service meant reaching the right person quickly. Today, customers expect a solution that anticipates their needs before articulating them. This requires a new architecture of service delivery: human and machine, with AI handling the scale, the speed, and the personalisation that no human team alone could sustain.
Third, and most importantly, the redefinition of business models. In the past, we sought optimal solutions within established frameworks — when demand rose, we expanded capacity; when service needs grew, we opened more branches. Technology invites us to break out of those frameworks entirely. Intelligent manufacturing means that "economies of scale" is no longer the only answer; flexible supply chains have made customised, on-demand production the new normal.
These three redefinitions are opening a commercial frontier unlike anything we have seen before. But if the benefits of technology accrue only to a small circle, its power remains fundamentally constrained. This brings me to the second message I want to leave with you today: inclusivity.
Inclusivity is not charity. Yet it is the smartest business strategy available. The unmet needs of the broader public represent the largest and most underserved market opportunity in existence. When you make quality healthcare, education and financial services accessible and affordable to ordinary residents, you are not serving a group in need of handouts — you are unlocking a vast market that traditional business models have consistently overlooked.
Hong Kong has a distinctive role to play here. We can be a co-architect of standards, a hub for capital, and a bridge between innovation and real-world deployment — from clinical validation of smart healthcare, to green technology financing, to regulatory sandboxes for fintech. Our contribution draws not only on institutional strengths and international networks, but on our genuine commitment to broad-based participation.
Yet inclusive products and services are only the first step. The deeper dimension is empowerment.
History reminds us that the dividends of technological revolution need to be actively guided to reach the many. In the age of steam, and again in the Internet era, early gains concentrated among capital owners and top-tier talent. But today we have the opportunity to write a different story. AI, as an amplifier of human capability, is already enabling what was previously unimaginable: a solo entrepreneur, with the right tools and the right vision, can build a unicorn.
In other words, the unit of competitive advantage is shifting — from the size of your team to the skill with which you orchestrate your tools.
Our mission should be to make that shift available to everyone. To turn individual readiness into collective prosperity, and to ensure that the productivity gains of AI flow broadly across the society.
This is precisely why, in this year's Budget, I placed such emphasis on the "AI Training for All" initiative.
We are not trying to turn everyone into an engineer. We are ensuring that workers, managers, SME (small and medium-sized enterprise) owners, and ordinary residents become capable collaborators with AI: people who can access it, use it effectively, and put it to work as their assistant.
That may sound ambitious, but consider this: if AI can one day be as intuitive as the smartphone, then mass adoption is not difficult to imagine at all. Just as computers once migrated from specialist facilities into offices and homes, AI will find its way into everyone's daily work and life.
For business leaders, it may be tempting to think of AI as "digital employee" that can replace existing workers. But think of a different framing: equipping your workforce with powerful digital assistants can achieve productivity gains, while also freeing your people to do what humans do best — create, imagine and innovate.
Companies that take those extra steps, and think those extra moves ahead, will find that an empowered workforce is also a more innovative one.
All in all, the power of technology must ultimately be measured by its contribution to inclusive growth. And inclusive growth, in the end, depends on, yes, commercial acumen — but also empathy, compassion, and the conviction that a rising tide should lift all boats. I can see that those qualities live in this room.
I will close with this thought. Someone once joked that economists know the price of everything and the value of nothing. With AI, let us never fall into the same trap — in our race to price every efficiency gain, let us not lose sight of the deeper value we are trying to create: a society where the fruits of innovation are broadly shared, and where technology lifts not just the fortunate few, but everyone willing to reach for it.
So here is my ask: let us grow the pie together. And make sure we cut it well.
Thank you very much.
Source: AI-found images
Speech by FS at CUHK EMBA Annual Conference Source: HKSAR Government Press Releases
Speech by FS at CUHK EMBA Annual Conference Source: HKSAR Government Press Releases
Source: AI-found images
