Hong Kong Customs seizes suspected smuggled silver worth about $6.1 million
Hong Kong Customs yesterday (January 27) detected a suspected smuggling case involving an outgoing cross-boundary private car at the Heung Yuen Wai Boundary Control Point and seized about 219 kilograms of suspected smuggled silver with an estimated market value of about $6.1 million.
Based on risk assessment, Customs yesterday intercepted an outbound private car at the Heung Yuen Wai Boundary Control Point. Upon inspection, the batch of suspected smuggled silver was found concealed inside multiple food cans placed in the boot of the vehicle, mingled with other ordinary foodstuffs.
After an investigation, Customs arrested a 46-year-old male driver and a 40-year-old male passenger suspected to be connected with the case. They were charged with one count of attempting to export unmanifested cargo and will appear at the Fanling Magistrates' Courts tomorrow (January 29).
Customs will continue to combat cross-boundary smuggling activities with firm enforcement action based on risk assessment and intelligence analysis.
Smuggling is a serious offence. Under the Import and Export Ordinance, any person found guilty of importing or exporting unmanifested cargo is liable to a maximum fine of $2 million and imprisonment for seven years upon conviction.
Members of the public may report any suspected smuggling activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Hong Kong Customs seizes suspected smuggled silver worth about $6.1 million Source: HKSAR Government Press Releases
Hong Kong Customs seizes suspected smuggled silver worth about $6.1 million Source: HKSAR Government Press Releases
Hong Kong’s startup ecosystem is thriving, attracting a growing number of local and international founders. The city’s business-friendly environment and strong innovation support make it an appealing base for startups aiming to expand in the region.
Startups thriving in HK.
One of them is a Hong Kong fintech startup that was acquired last year by a loyalty and travel rewards platform from Singapore.
David B Wang, the platform’s Global Head of Loyalty Partnerships and General Manager of Hong Kong, said the city offers favourable conditions for startup development.
Hong Kong is first and foremost a travel hub, he noted, adding that following the COVID-19 pandemic recovery, passenger traffic at Hong Kong International Airport has benefited significantly, and with a new terminal opening, he expects travel demand to continue growing.
David B Wang, the platform’s Global Head of Loyalty Partnerships and General Manager of Hong Kong.
Mr Wang also highlighted Hong Kong as a dynamic fintech hub that unites financial services and innovation, enabling companies to test new ideas and products. He also expressed appreciation for the various partners and stakeholders who supported the company’s entry into Hong Kong.
“Thanks to organisations, including Cyberport and Invest Hong Kong, for giving us the resources and showing us that there is an ecosystem here for us to tap into so that we can accelerate our growth and expansion to the market.”
Startups thriving in HK.
Last year, the number of startups and startup employees in Hong Kong reached new all-time highs. According to Invest Hong Kong, the number of startup firms in the city exceeded 5,200 in 2025, representing an 11% year-on-year increase. These companies employed nearly 20,000 people, reflecting growth of 12% compared with the previous year.
Director-General of Investment Promotion Alpha Lau said Hong Kong’s appeal extends far beyond its borders, with international founders accounting for approximately 33% of the city’s startup community, demonstrating that it is an ideal place for such firms.
“Whether they are local or from around the region using Hong Kong’s wonderful ecosystem for financing, or whether it is to look for support from government funding or develop test cases so that they can grow their dreams.”
Director-General of Investment Promotion Alpha Lau.
In 2025, Invest Hong Kong helped 560 companies to set up or expand their operations in the city. These companies are expected to bring in nearly $70 billion in direct investment and create more than 10,000 new jobs.
In addition, the New Capital Investment Entrant Scheme, which is partly administered by Invest Hong Kong, received more than 2,850 applications last year, and is expected to bring in investment of more than $85.5 billion to Hong Kong.
Looking ahead, Ms Lau said the department will focus on the Northern Metropolis and supporting Mainland enterprises in “going global” through Hong Kong.
Startups thriving in HK.
She said as Chinese Mainland industries continue to grow and expand their sales, technologies and investments abroad, Invest Hong Kong will help them to use the city as a platform. This includes managing the functions of their regional headquarters, fundraising, serving as a corporate treasury centre, and managing international operations.
Ms Lau outlined that the department will also identify companies that are interested in using the Northern Metropolis to expand their businesses, such as technology companies looking to establish research and development functions and pursue advanced manufacturing in the area.
