TD approves expansion of autonomous vehicles trial in North Lantau and commencement of driverless trial on Airport Island
The Transport Department (TD) announced today (July 23) that a pilot licence for autonomous vehicles (AVs) has been updated in accordance with section 20(3)(b) of the Road Traffic (Autonomous Vehicles) Regulation (Cap. 374AA) to further expand the AV trial in North Lantau, including commencing a driverless trial on Airport Island.
In February, the TD approved AVs on Airport Island trial routes to be monitoredby operators in the remote control centre, in addition to the in-vehicle backup operators. The trials of remote operation to date have met the requirements regarding safety, stability, accuracy and smoothness. Upon examining the test reports and conducting multiple site inspections, the TD is satisfied with the safety performance of AVs, with no abnormalities detected so far. While ensuring road safety, the TD has approved the driverless tests to commence on Airport Island with no in-vehicle backup operators. In addition, for the Tung Chung and Sunny Bay trial, remote backup operators will be introduced on top of in-vehicle backup operators to test remote operations.
The Commissioner for Transport, Miss Winnie Tse, said, "The launch of fully remote testing for Hong Kong's first AV pilot licence trial has achieved the driverless operations. This marks an important step toward realising the goals of driverless, scaled-up and commercialised AV operations as set out in the Policy Address and the Transport Strategy Blueprint, as well as achieving a milestone in accelerating the introduction of autonomous driving locally. I will continue to lead the Autonomous Vehicle Applications Promotion Working Group, working with its members from the industry and different departments, to monitor the progress of various trials and provide the necessary support and co-ordination, promoting the safe development of AVs in a proactive and orderly manner."
The updated details of the pilot licence have been uploaded to the TD's website on AV trials. The TD's pilot AV labels must be displayed on all pilot AVs for identification by other road users. To facilitate easier identification of AVs undergoing driverless trials by drivers and pedestrians, additional labels (see attachment)will be put up on the vehicle body to indicate that a fully driverless test of an AV is in progress.
The TD welcomes interested organisations or enterprises to submit applications for a pilot licence for AVs. Upon receipt of an application, the TD will consider various factors, including the operational design domain and functions of the autonomous driving system, relevant national or international standards/guidelines, and the road testing conditions, based on the Code of Practice for Trial and Pilot Use of Autonomous Vehicles, before approval.
The Transport Department (TD) announced today (July 23) the further expansion of the autonomous vehicles (AVs) trial in North Lantau, including commencing a driverless trial on Airport Island. The TD's pilot AV labels must be displayed on all pilot AVs for identification by other road users. To facilitate easier identification of AVs undergoing driverless trials by drivers and pedestrians, additional labels will be put up on the vehicle body to indicate that a fully driverless test of an AV is in progress. Source: HKSAR Government Press Releases
The Transport Department (TD) announced today (July 23) the further expansion of the autonomous vehicles (AVs) trial in North Lantau, including commencing a driverless trial on Airport Island. The TD's pilot AV labels must be displayed on all pilot AVs for identification by other road users. To facilitate easier identification of AVs undergoing driverless trials by drivers and pedestrians, additional labels will be put up on the vehicle body to indicate that a fully driverless test of an AV is in progress. Photo shows the Commissioner for Transport, Miss Winnie Tse (right), and the pilot proprietor's representative. Source: HKSAR Government Press Releases
SFST leads Hong Kong financial and accounting regulators to enhance co-operation with Malaysian counterparts
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, was joined by representatives of Hong Kong financial and accounting regulators today (July 23) to attend a signing ceremony of Memorandums of Understanding (MOUs) on financial and accounting regulatory co-operation before concluding his visit to Kuala Lumpur, Malaysia. He also met with the Secretary General of the Treasury, Ministry of Finance of Malaysia, and representatives of a company.
The signing ceremony featured an MOU governing the framework for mutual recognition of funds and cross listings of equity securities by the Securities and Futures Commission of Hong Kong (SFC) and the Securities Commission Malaysia (SC Malaysia). Witnessed by Mr Hui; the Chairman of the SFC, Dr Kelvin Wong; the Secretary General of the Treasury, Ministry of Finance of Malaysia, Tan Sri Johan Mahmood Merican; and the Managing Director of the SC Malaysia, Datin Padua Azalina Adham, the MOU was signed by the Chief Executive Officer of the SFC, Ms Julia Leung, and the Executive Chairman of the SC Malaysia, Dato' Mohammad Faiz Azmi.
Another MOU was signed between the Accounting and Financial Reporting Council (AFRC) and the SC Malaysia at the ceremony to officially build a strategic partnership in strengthening cross-border regulatory co-operation in the areas of audit oversight and financial reporting compliance, thereby enhancing investor protection and reinforcing public confidence in auditing and financial reporting. The Chief Executive Officer of the AFRC, Ms Janey Lai, and the Executive Director and Head, Audit Oversight of the SC Malaysia, Mr Alex Ooi, signed the MOU.
In addition, Bursa Malaysia was presented a certificate to recognise it as a Recognised Stock Exchange of Hong Kong Exchanges and Clearing Limited (HKEX), allowing companies with a primary listing on Bursa Malaysia's Main Market to apply for a secondary listing in Hong Kong.
At a fireside chat held at the signing ceremony, Mr Hui shared views with Tan Sri Johan under the theme "Connecting Markets, Expanding Opportunities: Strengthening Malaysia - Hong Kong Capital Market Connectivity". They explored opportunities to deepen capital market linkages between Hong Kong and Malaysia, thereby enhancing cross-border capital flows, investment collaboration, and broader market connectivity.
Mr Hui said, "These MOUs signify a substantive step in our regulatory co-operation with Malaysia to broaden cross-border investment channels and choices for investors in both markets. It also underscores our shared commitment to promoting market development in Asia through enhanced connectivity, robust regulatory standards and strong investor protection."
He said that the growth opportunities for Malaysia and Hong Kong are substantial. Expanding the engagement between the two markets, including enhancing co-operation between financial regulators of the two places, is a key strategic priority as Hong Kong continues the work to build a multi-asset product ecosystem, drawing global liquidity to Asia at a time of heightened macro uncertainties.
Before the signing ceremony, Mr Hui had a meeting with Tan Sri Johan. They discussed areas that Hong Kong and Malaysia could expand collaboration, such as the Islamic finance and co-operation between regulators.
The last stop of the four-day visit was a meeting with the Chief Financial Officer of the Capital A Berhad, Ms Teh Mun Hui. The company is actively exploring a dual listing in Hong Kong to broaden access to global and Mainland Chinese investor pools. Mr Hui said that the HKEX has streamlined the listing requirements for overseas issuers, introduced a set of core shareholder protection standards for all issuers and issued additional guidance to assist overseas companies seeking to list in Hong Kong. Now with Bursa Malaysia recognised by the HKEX, Hong Kong is an even better platform for Malaysian enterprises to tap into worldwide and Mainland capital for global expansion.
Mr Hui will depart for Hong Kong this evening.
Source: AI-found images
