Remarks by SFST on enhanced regulation of licensed money lenders at media session
Following are the remarks by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at a media session after attending a radio programme this morning (March 15):
Reporter: About the money lenders regulations, so what are the impacts of these new measures that you are expected? The second question is regarding the Middle East situation. Can you recap in English, what's the situation's impact on Hong Kong's, especially financial and family office business? And how would it affect the foreign investment? Thank you.
Secretary for Financial Services and the Treasury: In response to your first question about the measures that we put together in the money lenders regime. I would say that the proposed measures that we have are very targeted in terms of issues that we need to deal with. I think one of the issues that we come across very often is that many households are being used as referees in some of these lending activities of their domestic helpers. So that's why from August 1 this year, we require that no more such requirement can be imposed on in the lending activities, in a sense that no referee will be required in such lending activities with a view to protecting our citizens.
Secondly, I would say, in terms of the overall approach that we take to deal with this money lending regime is that we are applying a rather equivalent requirement, not just to domestic helpers but everybody with a monthly income below $12,000. In this regard, we have applied a ratio which is applicable to the proportion of money on a monthly basis that need to repay the debt, and at the same time to make sure that all the lenders in this regime will be able to share information such that there's no one single individual who try to borrow from different lenders can circumvent the requirement.
In response to your second question about how we see the Middle East. As you all can see, on the financial services side, the stability, the safety and also sophistication of financial centre are more robust than ever in terms of how we are being viewed internationally and also domestically. That's why against this backdrop, we are proposing some measures to strengthen our role as an asset and wealth management centre in the current regime where many investors would like to diversify their investments. And that's why we have a law in place to be proposed to the legislature with a view to extending the tax concession that we are going to give to family offices and also to the funds that are eligible, in such a way that they will be qualified for tax concession for a wider spectrum of products. At the same time, in two weeks' time, we are going to launch our annual Wealth for Good Summit for family offices such that we can bring these advantages to the international family office ecosystem. As we gather from Invest Hong Kong, in fact a few of the Middle Eastern families are already in town, trying to anticipate our event and at the same time to know more about what we have to offer for family offices and also corporate investors in terms of our asset management businesses.
(Please also refer to the Chinese portion of the remarks.)
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, Photo source: reference image
DH responds to comments about alternative smoking products
In response to claims that prohibiting the possession of specified alternative smoking products (ASPs) in public places would deter tourists from visiting Hong Kong, a spokesman for the Department of Health (DH) today (April 30) issued the following statement:
Hong Kong has prohibited the import, sale and possession of ASPs for commercial purposes, including e-cigarettes and heat sticks since April 30, 2022. For the past four years, all inbound travellers, including tourists, have been legallybarred from bringing e-cigarettes and heat sticks into the city, and such products have not been available for purchase locally. The ban taking effect today simply extends regulation to cover possession in public places. In practice, no additional restrictions are being imposed on tourists.
Regarding suggestions that the new measure will discourage tourists from visiting Hong Kong, the spokesman stressed that such claims completely overlook the fact that the importation (including carrying into Hong Kong) and sale of e-cigarettes and heat sticks have already been banned for four years. Extending prohibition to possession will not affect tourists’ willingness to visit Hong Kong. Instead, it is the rumour-mongers who are spreading false information, misleading the public and visitors, causing unnecessary alarm and damaging Hong Kong’s reputation. The spokesman urged all sectors to work with the government to convey accurate information to tourists and prevent misleading messages from damaging Hong Kong’s image as a healthy travel destination.
The World Health Organization has clearly identified the health risks posed by e-cigarettes and heated tobacco products. Hong Kong is not alone in prohibiting ASPs. Currently, more than 30 jurisdictions worldwide ban e-cigarettes, and over 10 ban heated tobacco products. Thailand and Singapore implemented comprehensive bans as early as 2014 and 2018 respectively, without adverse impact on their visitor numbers. In fact, the number of tourists visiting Hong Kong have continued to rise from 2023 to 2025, demonstrating that public health protection and tourism development can coexist.
Members of the public and tourists may visit the website of the Tobacco and Alcohol Control Office (TACO) for detailed information and frequently asked questions. TACO has also adopted a multipronged publicity approach to disseminate relevant information to tourists, including:
producing promotional leaflets (see Annex) for tourists to help tourists to understand the new tobacco control measures. Relevant promotional materials are displayed and distributed at all border control points and visitor centres of the Hong Kong Tourism Board, ensuring that tourists are informed immediately upon arrival;
coordinating with the Shenzhen Municipal Health Commission, the Office of Port of Entry and Exit of Shenzhen Municipal People's Government, Shenzhen Customs District and Shenzhen General Station of Exit and Entry Frontier Inspection to strengthen the promotion of Hong Kong’s latest tobacco control measures at Shenzhen ports, including displaying information on large electronic screens on the mainland side of the ports;
coordinating with airlines to make in-flight announcements about the new measures; and
conducting promotional activities on social media, at boundary control points and at major tourist attractions to remind the public and visitors to comply with the law.
Hong Kong welcome visitors from all over the world to experience the city’s healthy and vibrant appeal.
DH responds to comments about alternative smoking products Source: HKSAR Government Press Releases
DH responds to comments about alternative smoking products Source: HKSAR Government Press Releases
DH responds to comments about alternative smoking products Source: HKSAR Government Press Releases
DH responds to comments about alternative smoking products Source: HKSAR Government Press Releases
DH responds to comments about alternative smoking products Source: HKSAR Government Press Releases
DH responds to comments about alternative smoking products Source: HKSAR Government Press Releases
