LegCo Members Tour Northern Metropolis to Review Hong Kong Park Development and Innovation Initiatives

LegCo Members visit Hong Kong Park in the Loop in Northern Metropolis

The following is issued on behalf of the Legislative Council Secretariat:

The President of Legislative Council (LegCo), Dr Starry Lee, as well as members of the Panel on Commerce, Industry, Innovation and Technology and other LegCo Members conducted a second visit to the Northern Metropolis (NM) today (April 9) to grasp the first-hand information on the latest development of the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (Hong Kong Park in the Loop).

Accompanied by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, and the Permanent Secretary for Innovation, Technology and Industry and Chairperson of the Hong Kong-Shenzhen Innovation and Technology Park Limited (HSITP), Mr Kevin Choi, Members first received a briefing from the Chief Executive Officer of the HSITP, Mr Vincent Ma, on the Park's overall planning, industrial layout and progress in attracting enterprises and investment.

Members then visited the Incubation Centre in Building 8 of the Park to learn about the shared workspaces and offices provided for start-ups. Members overlooked the layout of the Hong Kong and Shenzhen Parks within the Loop from the Incubation Centre. They also exchanged views with representatives from several technology enterprises stationed in the Park, whose businesses span life and health technology as well as artificial intelligence, to gain a better understanding of their development in the Park. Together with Building 9, the two wet-laboratory buildings in the Park, offering about 32 000 square metres of floor area for the research and development in the biological and chemical fields, have seen nearly 80 local, Mainland and overseas organisations and enterprises moved in since their completion last year. The occupancy rate is nearly 90%.

Members also visited the talent accommodation building and toured the units and facilities. Members noted that the comprehensive amenities in the talent accommodation building would help attract global talents to pursue development in the Loop. Meanwhile, Members visited the CLP Power substation in the Lok Ma Chau Loop and received a briefing from CLP Power representatives on the planning of power infrastructure for the Loop area. Members noted that the substations in the NM currently are sufficient to meet the stable electricity demand of the Hong Kong Park in the Loop for the next decade.

During the visit, Members noted that one of the development goals of the Hong Kong Park in the Loop is to facilitate the cross-boundary flows of innovation elements, including the flow of people, materials, data and capital. Members and the Government exchanged views on how to facilitate the cross-boundary flow of personnel through the introduction of dedicated legislation for the NM.

LegCo Panel on Commerce, Industry, Innovation and Technology will discuss issues of the Park and related financial proposalswith the Government later this month, in order to further expedite the development of the Park.

A total of 53 LegCo Members attended the visit. In addition to members of the Panel on Commerce, Industry, Innovation and Technology, other non-members also attended.

LegCo Members visit Hong Kong Park in the Loop in Northern Metropolis Source: HKSAR Government Press Releases

LegCo Members visit Hong Kong Park in the Loop in Northern Metropolis Source: HKSAR Government Press Releases

LegCo Members visit Hong Kong Park in the Loop in Northern Metropolis Source: HKSAR Government Press Releases

LegCo Members visit Hong Kong Park in the Loop in Northern Metropolis Source: HKSAR Government Press Releases

LegCo Members visit Hong Kong Park in the Loop in Northern Metropolis Source: HKSAR Government Press Releases

Hong Kong Customs detects case involving precious metals and stones dealer carrying out specified cash transaction without Category B registration

Hong Kong Customs today (April 9) detected a case involving a local company that conducted a cash transaction for a watch containing precious metals and stones valued at over HK$120,000, while not being a Category B registrant under the Dealers in Precious Metals and Stones Regulatory Regime. The company director was arrested.

The investigation is ongoing. The arrested person has been released on bail.

According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), unless exempted, any person who is seeking to carry on a business of dealing in precious metals and stones and engage in any transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 in Hong Kong is required to register with Hong Kong Customs.

In particular, no person other than a Category B registrant may carry out a cash transaction with a total value at or above HK$120,000 in the course of business of dealing in precious metals and stones. Any dealer who is not a Category B registrant, who claims to be a Category B registrant, claims to be authorised to carry out, or carries out any cash transaction(s) with a total value at or above HK$120,000, commits an offence and is liable on conviction to a maximum fine of HK$100,000 and imprisonment for six months.

Customs reminds dealers in precious metals and stones that they must obtain the relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above HK$120,000.

For the forms, procedures and guidelines to submit applications for registration, please visit the website for Dealers in Precious Metals and Stones Registration System (www.drs.customs.gov.hk) or Customs' webpage (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html).

Members of the public may report any suspected transactions involving precious metals and stones with a total value at or above HK$120,000 conducted without the required registration 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).

Source: AI-found images