TAC supports Government's implementation of new law on mandatory fitting and wearing of seat belts
The following is issued on behalf of the Transport Advisory Committee:
The Chairman of the Transport Advisory Committee (TAC), Professor Wong Sze-chun, expressed his support today (January 27) for the Government's implementation of the new law requiring the mandatory fitting and wearing of seat belts, further enhancing the safety of passengers and road users.
The Chairman of the Transport Advisory Committee (TAC), Professor Wong Sze-chun, Photo source: reference image
Professor Wong said, "The TAC supports the Government's new seat belt law and believes that passenger safety should always be the top priority. The new law extends existing mandatory requirements on the installation and use of seat belts applicable to private cars, taxis and public light buses, to other vehicle types, further safeguarding passenger safety. The TAC has been briefed by the Government on the legislative proposal, and members have expressed their general support.
"Research shows that wearing seat belts can reduce the risk of death and serious injury in traffic accidents by approximately 40 per cent and 70 per cent, respectively, and mandatory use is an effective way to increase seat belt usage. Other places, such as the Chinese Mainland, Australia, and the United Kingdom, already have similar legal requirements concerning the wearing of seat belts on public transport vehicles, and the new law ensures Hong Kong passengers receive better protection as well.
"The fatal traffic accident on Tai Po Road in 2018 prompted a deep reflection on how we can better safeguard passenger safety. To prevent similar serious casualties from happening again, after thorough researches and discussions, the Government implemented the new regulations, which are reasonable and necessary.
"I noticed that the new law includes provisions allowing passengers to present reasonable excuses, and I am pleased to see that the Police has stated that they will adopt a balanced approach of exercising law, reason, and empathy in enforcement. I also support the Government's efforts to enhance publicity and public education in the initial stage of implementation. Further elaboration of the new legal requirements to drivers, passengers and relevant trades will help the public understand that the new regulations aim to protect their safety."
Photo source: reference image
Speech by SFST at 2026 International Forum for Impact Investing (English Only)
Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the 2026 International Forum for Impact Investing today (January 28):
Regina (Convenor of the Non-official Members of the Executive Council, Mrs Regina Ip), DG Zhong Wu (Director General, Finance Center for South-South Cooperation, Dr Wu Zhong), Chairman Bei (Chairman, GSG Impact China National Partner, Dr Bei Duoguang), distinguished guests, ladies and gentlemen,
Good morning. It is an honour to join you today at the International Forum for Impact Investing, themed "Impact in Action: Forging Resilient Futures". I would like to express my sincere gratitude to the esteemed organisers for bringing together such a dynamic assembly of thought leaders, innovators, and practitioners. Your collective efforts in convening this forum underscore the vital role of collaboration in advancing sustainable development, and it is fitting that Hong Kong, as a bridge between East and West, hosts this pivotal dialogue.
This year's theme resonates deeply in our current global context, where the imperatives of resilience - against climate change, economic disruptions, and social issues - demand not just vision, but decisive action. As we navigate a multipolar world, the discussions ahead will illuminate pathways to a sustainable future, from investing in human resilience amid AI-driven transformations and climate displacements, to harnessing technological innovations in agriculture and beyond. Panels on sustainable investments across Asia, the potential of impact enterprises, development finance solutions through blended finance, and the journeys of Asian family offices in wealth stewardship all highlight the forum's focus on turning impact into tangible outcomes. These conversations are not abstract; they are calls to mobilise capital for a more equitable and sustainable world, and I am confident that the insights shared here will inspire partnerships that extend far beyond today.
Hong Kong is proud to be at the forefront of this movement, leveraging our status as an international financial centre to emerge as a leading hub for green and sustainable finance. Aligned with the Central People's Government's 14th Five-Year Plan and our own targets to achieve carbon neutrality before 2050 and halve emissions by 2035, we have seen remarkable growth in this sector. In 2024 alone, green and sustainable debt issued in Hong Kong surpassed US$84 billion, with bonds capturing 45 per cent of the Asian market for the seventh consecutive year. Our Government Sustainable Bond Programme has issued the equivalent of US$32 billion since 2019, including innovative tokenised green bonds - the world's first multi-tranche digitally native ones and those integrating e-CNY and e-HKD in settlements. These issuances not only fund environmentally beneficial projects but also demonstrate Hong Kong's innovation in blending fintech with sustainability.
To further catalyse this ecosystem, we have extended the Green and Sustainable Finance Grant Scheme to 2027, subsidising issuance and external review costs for bonds and loans, including transition financing, with over HK$410 million granted to more than 640 instruments by December last year. Complementing this, our Pilot Green and Sustainable Finance Capacity Building Support Scheme, now extended to 2028, has approved over 9 700 applications, reimbursing up to HK$55 million to nurture talents in this field. We are also fostering a vibrant Green Fintech hub through initiatives like the Hong Kong Green Fintech Map and the Proof-of-Concept Funding Support Scheme (Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme), which has backed 60 projects to commercialise solutions addressing industry pain points. On the disclosure front, our Roadmap on Sustainability Disclosure mandates publicly accountable entities to adopt International Sustainability Standards Board standards by 2028, supported by the Hong Kong Sustainability Disclosure Standards.
Additionally, the Hong Kong Exchanges and Clearing Limited's Core Climate platform, with over 120 participants and credits from more than 60 verified projects, positions us as a connector in the international carbon market, bolstered by memoranda of understanding with Greater Bay Area Exchanges.
These initiatives reflect Hong Kong's commitment to channelling capital toward resilient futures, where impact investing drives not only financial returns but also social and environmental progress. By integrating sustainability into our financial ecosystem, we are creating opportunities for investors, enterprises, and communities alike. As we face global challenges together, Hong Kong stands ready to partner with you in forging these resilient pathways.
In closing, I wish this forum every success. May our discussions spark actions that build a more sustainable world for generations to come. Thank you.
Source: AI-found images
