CE: Establishing Hong Kong's Sustainable Aviation Fuel Base in Dongguan to Deepen Hong Kong-Guangdong Collaboration

Speech by CE at Signing Ceremony of Memorandum of Understanding - Establishment of Hong Kong's Sustainable Aviation Fuel Base in Dongguan

Following is the speech by the Chief Executive, Mr John Lee, at the Signing Ceremony of Memorandum of Understanding - Establishment of Hong Kong's Sustainable Aviation Fuel Base in Dongguan today (May 5):

Now I shall talk to our English speaking friends. Good morning, everyone. A warm welcome to our English-speaking guests and friends. I am delighted to witness with you today's MOU (Memorandum of Understanding) signing.

This is a real milestone: Hong Kong SAR (Special Administrative Region) Government and Dongguan Government leading EcoCeres to build in Dongguan a sustainable aviation fuel value chain right here in the Greater Bay Area.

Traditional aviation fuel carries a heavy carbon footprint. Sustainable Aviation Fuel (SAF) cuts lifecycle emissions by more than 80 per cent. That is a substantial step toward greener aviation.

The collaboration between Hong Kong and Dongguan is the realisation of Executive-led governance of Hong Kong and also the joint working of effective government and efficient market. It is also an excellent example of synergy of the two places. Hong Kong brings global finance, professional services and research capabilities. Dongguan brings mature chemical industry parks, logistics, and a steady supply of used cooking oil, the essential raw material for SAF. Together, we form a powerful combination.

The company at the heart of this project is EcoCeres. Incubated in Hong Kong, it has developed proprietary technology to turn waste cooking oil into internationally certified sustainable aviation fuel, SAF. That is why it holds a leading position in the global market.

Ladies and gentlemen, the world faces energy disruptions. But Hong Kong, under "one country, two systems", enjoys a unique advantage: strong support from the Motherland and close connection to the world. We can turn green challenges into green opportunities.

Today's MOU means policy alignment, co-ordinated resource mobilisation, and joint action between Hong Kong and Dongguan. We are linking the entire supply chain, from raw materials to production. That will drive investment and support our country's carbon reduction goals.

Looking ahead, we will continue to deepen Hong Kong-Guangdong collaboration. More policy connectivity. More resource sharing. More green projects.

Together, we will build a cleaner, greener future – for Hong Kong, for Dongguan, for the Greater Bay Area, for our country, and for the world. Thank you.

The Chief Executive, Mr John Lee, attended the Signing Ceremony of Memorandum of Understanding - Establishment of Hong Kong's Sustainable Aviation Fuel Base in Dongguan today (May 5). Photo shows (front row, from fourth left) Deputy Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council Mr Wang Jie; the Secretary for Environment and Ecology, Mr Tse Chin-wan; Co-Chairman of EcoCeres Mr Alan Chan; the Secretary of the CPC Dongguan Municipal Committee, Mr Wei Hao; Mr Lee; the Chairman of Towngas and Founder of Full Vision Capital, Dr Lee Ka-kit, and other guests at the event. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee, attended the Signing Ceremony of Memorandum of Understanding - Establishment of Hong Kong's Sustainable Aviation Fuel Base in Dongguan today (May 5). Photo shows (back row, from second left) the Chairman of Towngas and Founder of Full Vision Capital, Dr Lee Ka-kit; Mr Lee; the Secretary of the CPC Dongguan Municipal Committee, Mr Wei Hao; Deputy Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council Mr Wang Jie and other guests witnessing Co-Chairman of EcoCeres Mr Alan Chan (front row, left) and member of the Standing Committee of the CPC Dongguan Municipal Committee and Executive Vice Mayor of the Dongguan Municipal People's Government Mr Zeng Jianpeng (front row, right) signing a Memorandum of Understanding. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee, speaks at the Signing Ceremony of Memorandum of Understanding - Establishment of Hong Kong's Sustainable Aviation Fuel Base in Dongguan today (May 5). Source: HKSAR Government Press Releases

Advance estimates on Gross Domestic Product for first quarter of 2026

The Census and Statistics Department (C&SD) released today (May 5) the advance estimates on Gross Domestic Product (GDP) for the first quarter of 2026.

According to the advance estimates, GDP increased by 5.9% in real terms in the first quarter of 2026 over a year earlier, compared with the increase of 4.0% in the fourth quarter of 2025.

Analysed by major GDP component, private consumption expenditure increased by 5.0% in real terms in the first quarter of 2026 over a year earlier, faster than the increase of 2.5% in the fourth quarter of 2025.

Government consumption expenditure measured in national accounts terms recorded an increase of 2.9% in real terms in the first quarter of 2026 over a year earlier, compared with the increase of 1.5% in the fourth quarter of 2025.

Gross domestic fixed capital formation increased further by 17.7% in real terms in the first quarter of 2026 over a year earlier, following the increase of 11.7% in the fourth quarter of 2025.

Total exports of goods measured in national accounts terms recorded an increase of 23.8% in real terms in the first quarter of 2026 over a year earlier, accelerated further from the growth of 15.4% in the fourth quarter of 2025. Over the same period, imports of goods measured in national accounts terms grew by 29.9% in real terms, compared with the increase of 18.2% in the fourth quarter of 2025.

Exports of services rose by 3.5% in real terms in the first quarter of 2026 over a year earlier, after the increase of 4.7% in the fourth quarter of 2025. Imports of services increased by 3.9% in real terms in the first quarter of 2026, compared with the increase of 3.7% in the fourth quarter of 2025.

On a seasonally adjusted quarter-to-quarter comparison basis, GDP increased by 2.9% in real terms in the first quarter of 2026 when compared with the fourth quarter of 2025.

Commentary

A Government spokesman said that the Hong Kong economy expanded robustly in the first quarter of 2026. According to the advance estimates, real GDP grew by 5.9% over a year earlier in the first quarter, accelerating from the revised 4.0% growth in the preceding quarter (up from the earlier estimate of 3.8%), and marking the strongest quarterly growth in nearly five years. On a seasonally adjusted quarter-to-quarter basis, real GDP rose notably by 2.9%.

Looking ahead, Hong Kong's economic growth outlook remains positive, underpinned by strong global demand for artificial intelligence-related electronics, sustained growth in visitor arrivals and robust cross-boundary financial activities. Relatively solid business and consumer sentiment is expected to continue supporting domestic demand. However, persistent tensions in the Middle East pose downside risks to the economic outlook. In response, the Government has taken targeted measures to safeguard energy supply stability and mitigate the impacts on affected sectors. The Government will stay vigilant and continue to closely monitor the developments.

The revised figures on GDP and more detailed statistics for the first quarter of 2026, as well as the revised GDP forecast for 2026, will be released on May 15, 2026.

Further information

The year-on-year percentage changes of GDP and selected major expenditure components in real terms from the first quarter of 2025 to the first quarter of 2026 are shown in Table 1.

When more data become available, the C&SD will compile revised figures on GDP. The revised figures on GDP and more detailed statistics for the first quarter of 2026 will be released at the C&SD website (www.censtatd.gov.hk/en/scode250.html) and the Gross Domestic Product by Expenditure Componentreport (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1030001&scode=250) on May15,2026.

For enquiries about statistics on GDP by expenditure component, please contact the National Income Branch (1) of the C&SD (Tel: 3863 2727 or email: gdp-e@censtatd.gov.hk).

Source: AI-found images