SCED continues to attend APEC Ministers Responsible for Trade Meeting in Suzhou
The Secretary for Commerce and Economic Development, Mr Algernon Yau, continued to attend the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting in Suzhou today (May 23).
At the discussion session entitled "Foster New Engines of Innovative and Dynamic Trade and Investment Cooperation", Mr Yau highlighted the importance of sustainability and technological advancement in reshaping the global trade landscape and economic growth.
Noting that Hong Kong, as the world's fifth largest merchandise trading entity in 2025, has been pursuing digital and green trade to stay resilient and competitive, Mr Yau shared with fellow trade ministers Hong Kong's efforts and key directions in this regard.
Mr Yau said that Hong Kong has been harnessing the power of artificial intelligence (AI) to provide trade facilitation measures and digitalise its logistics industry. The recent initiatives included the commencement of the final phase of the Trade Single Window system with a view to streamlining trade document submissions, and the launch of the Port Community System to digitally integrate sea, land and air transport networks, thereby enabling real-time cargo tracking and data sharing.
He noted that Hong Kong also recognises the need to popularise AI understanding to enable people and enterprises to use it safely, responsibly and productively. Hong Kong will establish the Committee on AI+ and Industry Development Strategy and has also put in place various initiatives to deepen AI integration and encourage wider AI application.
In addition, as a global financial centre, Hong Kong has developed financing tools tailored for modern supply chains. Citing the Project CargoX launched last year as an example, Mr Yau said that it leverages cargo and trade data to streamline and enhance trade finance processes.
Turning to developing cross-border digital trade, Mr Yau said that Hong Kong fully supports the APEC Trade Digitalization Cooperation Framework proposed by the country and looks forward to implementing the framework with fellow member economies.
On green and low carbon trade, Mr Yau noted that Hong Kong is fully committed to pursuing the goal of achieving carbon neutrality by 2050. In 2025, green and sustainable debt issuance in Hong Kong totalled US$77 billion.
On the sidelines of the MRT meeting, Mr Yau took the opportunity to meet with the Minister for Trade and Investment of New Zealand, Mr Todd McClay, to exchange views on various issues, including fostering bilateral trade relations.
The two-day MRT meeting concluded. Mr Yau will return to Hong Kong this evening.
The Secretary for Commerce and Economic Development, Mr Algernon Yau (right), meets with the Minister for Trade and Investment of New Zealand, Mr Todd McClay (left), to exchange views on various issues, including fostering bilateral trade relations on the sidelines of the Asia-Pacific Economic Cooperation Ministers Responsible for Trade Meeting in Suzhou today (May 23). Source: HKSAR Government Press Releases
The Secretary for Commerce and Economic Development, Mr Algernon Yau, continued to attend the Asia-Pacific Economic Cooperation Ministers Responsible for Trade Meeting in Suzhou today (May 23). Photo shows Mr Yau (right) and the Director-General of Trade and Industry, Mr Aaron Liu (left), before the meeting. Source: HKSAR Government Press Releases
The Secretary for Commerce and Economic Development, Mr Algernon Yau, speaks at a discussion session entitled "Foster New Engines of Innovative and Dynamic Trade and Investment Cooperation" at the Asia-Pacific Economic Cooperation Ministers Responsible for Trade Meeting in Suzhou today (May 23). Source: HKSAR Government Press Releases
Statement by ExCo Non-official Members
The following is issued on behalf of the Executive Council Secretariat:
Non-official Members of the Executive Council (ExCo Non-official Members) today (October 29) issued the following statement on the Government's follow-up work in relation to the fire at Wang Fuk Court:
The Hong Kong Special Administrative Region (HKSAR) Government today released the report of the Independent Committee in relation to the fire at Wang Fuk Court in Tai Po. The Chief Executive and Principal Officials also held a press conference to give an account of relevant matters to the public. ExCo Non-official Members expressed full support for the Government in facing up to the problems, shouldering responsibility, and pursuing comprehensive reforms.
The Convenor of ExCo Non-official Members, Mrs Regina Ip, said, "The Chief Executive and Principal Officials have clearly explained to the public the Government's follow-up work, and, on behalf of the HKSAR Government, apologised to the residents of Wang Fuk Court and the community, demonstrating sincerity and political commitment. The Chief Executive also called on his team to continue to give their utmost in their respective positions in pressing ahead with various reforms and the extensive work ahead, while drawing lessons from the incident and better exercising leadership to step up the implementation of the result-oriented governing approach. I support this position."
"The Government's plans to implement comprehensive reform on the basis of the Independent Committee's report are comprehensive and pragmatic, addressing the crux of the issues. I concur with the seven major directions of systemic reform put forward by the Government. These include combatting bid-rigging in building maintenance and renovation projects, establishing a cross-departmental task force to combat crimes related to bid-rigging in such projects, establishing a Building Maintenance Support and Services Council, reforming the operation and regulatory system for building maintenance and renovation, reforming the structure of the Buildings Department, establishing a centralised data system and reforming the complaint mechanism, and establishing a steering committee chaired by the Chief Secretary for Administration to follow up on the Independent Committee's recommendations."
As regards accountability, the Government has demonstrated its determination to pursue responsibility comprehensively and enforce accountability at various levels. On criminal liability, law enforcement authorities have successively instituted prosecutions against the companies and individuals involved in the incident. The Government has also initiated the Administrative Responsibility Two-tier Investigation Mechanism under the Heads of Department Accountability System, and is strictly following up on the administrative responsibility of the civil servants concerned. As for political accountability, the Chief Executive, having considered a wide range of factors, decided that the Secretary for Housing should take political accountability, and has accepted the Secretary's resignation.
The fire at Wang Fuk Court has exposed a number of long-standing inadequacies at different systemic levels, and the issues involved are complex and intertwined. Properly addressing these issues requires firm resolve as well as precise and decisive decision-making. ExCo Non-official Members will give their full support to the Government in taking forward comprehensive reforms and will continue to fully support its governance. ExCo Non-official Members firmly believe that, as long as society works together with dedication to turn grief into the strength to move forward, learns from the experience, and thoroughly implements systemic reforms, similar incidents can certainly be prevented, making Hong Kong a safer and better home.
