Hong Kong Customs seizes suspected cannabis buds worth about $14.5 million
Hong Kong Customs seized about 81.2 kilograms of suspected cannabis buds with an estimated market value of about $14.5 million at Hong Kong International Airport on June 14.
Through risk assessment, Customs on that day inspected an incoming air consignment at the airport from Thailand, which was declared as carrying clothing. Upon inspection, Customs officers found the batch of suspected cannabis buds concealed inside some of the clothing.
Subsequently, Customs conducted a controlled delivery operation in Tsuen Wan yesterday (June 17) and arrested a 31-year-old local man, who was suspected to be connected with the case.
An investigation is ongoing.
Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
Members of the public may report any suspected drug trafficking 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 seized about 81.2 kilograms of suspected cannabis buds with an estimated market value of about $14.5 million at Hong Kong International Airport on June 14. Photo shows a local man (centre), who was suspected to be connected with the case. Source: HKSAR Government Press Releases
Hong Kong Customs seized about 81.2 kilograms of suspected cannabis buds with an estimated market value of about $14.5 million at Hong Kong International Airport on June 14. Photo shows the suspected cannabis buds seized. Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, and the financial delegation continued their visit to Shanghai today (June 18). When speaking at the 2026 Lujiazui Forum last evening, Mr Hui had discussions with industry leaders, academics and experts on the future trajectory of financial partnership between Shanghai and Hong Kong.
Upon arrival in Shanghai yesterday afternoon (June 17), Mr Hui and the delegation visited the Shanghai Pudong Service Center for Overseas Investment. This Center, spearheaded by the Shanghai Municipal Commission of Commerce, is a one-stop service platform to support enterprises going global with professional services in the legal, financial, consulting, and accounting fields. Four Shanghai enterprises looking for expansion to global markets were invited to join an in-depth dialogue session with the delegation who come from the financial, insurance, accounting and investment sectors. The delegation introduced to the enterprises Hong Kong's strengths in the financial market and legal and other professional services, as well as the support available to them while going global via Hong Kong.
In the evening, Mr Hui led the delegation to attend the 2026 Lujiazui Forum, where he joined a panel discussion session at the fourth plenary session themed "Empowering High-standard Financial Opening-up Through Shanghai-Hong Kong Financial Synergy".
When addressing the collaboration between the two places, Mr Hui highlighted three dimensions: comprehensiveness, long-term nature and synergy. He stated that Hong Kong is a mature, safe and stable international corporate treasury centre for the nation, supported by a common law legal system, regulatory frameworks aligned with international standards, a simple and transparent tax regime, as well as an extensive Comprehensive Avoidance of Double Taxation Agreement network. Furthermore, Hong Kong has a highly professional and open market that ensures the free flow of capital, thus attracting top global banking, accounting, legal, compliance, and risk management service institutions, making it the most mature multinational corporate treasury management platform in the Asia-Pacific region.
"Hong Kong is now the world's leading cross-boundary wealth management centre and the largest offshore Renminbi business hub in the world. Just last week, Hong Kong unveiled the Action Plan to Promote the Development of Corporate Treasury Centres in Hong Kong, setting out a series of bold measures to create a favourable environment for multinational corporations by offering more tax benefits, greater tax certainty, and enhanced compliance flexibility so as to facilitate corporations in centralising their fund management, asset allocation and risk management in Hong Kong. Earlier this year, we signed a co-operation agreement with the Shanghai Gold Exchange for the establishment of the Hong Kong gold central clearing system, with a view to jointly building a truly integrated, highly efficient and open gold ecosystem. The move will provide corporations with broader options for investment and risk diversification. With these numerous advantages, Hong Kong truly serves as a safe 'buffer zone' and hub for enterprises planning global expansion. All these perfectly exemplify Hong Kong's advantages in the two dimensions regarding comprehensiveness and long-term nature."
He also elaborated on "synergy". He said, "In the face of more complex international compliance requirements and a changing geopolitical landscape, it is of more importance for Mainland enterprises to leverage a robust, secure and professional global treasury management system while going global. As two major hubs in the national financial landscape, Shanghai and Hong Kong are respectively anchored in the massive market of the Chinese Mainland and backed by a global capital market network, forming an indispensable 'dual-hub' paradigm for the nation's financial opening up and real economy development that offers highly complementary strengths. This advantage can provide Mainland enterprises going global with a full-chain service of 'domestic co-ordination, global allocation, and manageable risk'."
Before concluding the four-day visit to Shanghai, Hangzhou, and Suzhou, Mr Hui, together with the delegation, visited the China Taiping Insurance Group this morning and met with its Vice Chairman and General Manager, Mr Li Kedong, and other senior management. The two parties exchanged views on the latest developments in the insurance industry on the Mainland and Hong Kong, as well as the fruitful outcomes brought about by connectivity between the two places.
Mr Hui departed for Hong Kong this afternoon.
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
SFST leads delegation to attend Lujiazui Forum in Shanghai Source: HKSAR Government Press Releases
