Full text of the Chief Executive's 2026 Policy Address (3)
(C) International Trade Centre
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Photo source: reference image
Photo source: reference image
Photo source: reference image
Hong Kong Convention and Exhibition Centre, Photo source: reference image
75. Hong Kong was ranked the world's fifth-largest entity in merchandise trade in 2025, two places up from the previous year, according to the "Global Trade Outlook and Statistics" report, published by the World Trade Organization (WTO). We will consolidate and enhance Hong Kong's status as an international trade centre, playing a greater role in the high-level opening up of our country.
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Deepen the Work of the GoGlobal Task Force
76. Since the Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force) was established last October, it has provided assistance, including listing and raising capital in Hong Kong, aligning with overseas standards, acquiring industry certifications and fulfilling compliance requirements for more than 340 Mainland enterprises. About 30% of them position Hong Kong as their regional/international headquarters or corporate treasury centre (CTC).
77. In June, I led a delegation, which included representatives of Mainland enterprises, to visit Central Asia, where we met with local enterprises to open up business opportunities. Many of the Mainland companies successfully matched with local partners for collaborative projects. The GoGlobal Task Force will continue to help enterprises expand their businesses into Central Asia.
78. The GoGlobal Task Force will further consolidate Hong Kong's role in helping Mainland enterprises establish their presence abroad. It will:
(i) Deepen collaboration with trade associations of both places to provide more targeted support services to Mainland enterprises.
(ii) Strengthen collaboration with professional organisations to train talent for the GoGlobal initiative and enhance professional services.
(iii) Extend the Cross-sectoral Professional Services Platform, adding a new sector to provide environmental, social and governance (ESG) services, with a view to leveraging Hong Kong's international expertise to assist Mainland enterprises in meeting the requirements of their target markets.
(iv) Enhance the platform's matching function to encourage connections between Mainland enterprises and Hong Kong professional service providers, and keep track of the effectiveness of individual cases.
79. The IA will promote the development of a specialty insurance business that aligns with the real economy to diversify and manage risks for enterprises to "go global".
80. The Government will continue to assist the local media to expand their network beyond Hong Kong, telling the good stories of Hong Kong.
Build a High Value-added Supply Chain Services Centre
81. As our country improves the comprehensive overseas services system and guides the orderly development of cross-border industry and supply chains, it creates enormous opportunities for Hong Kong. Since announcing the building of a high value-added supply chain services centre in the 2024 Policy Address, the Government has been enhancing strategies to encourage Mainland enterprises to leverage Hong Kong as their supply chain services centre.
82. Hong Kong will better align with our country's modern industrial system, including driving the upgrade and transformation of traditional industries, as well as cultivating emerging pillar industries, in order for enterprises to take advantage of our strengths in international finance, trade, shipping, scientific research, branding, design and exhibitions, as well as our global network, to connect with overseas supply chains and launch international businesses.
Encourage More Financial Institutions to Set Up Headquarters in Hong Kong
83. Mainland financial institutions with stronger capital strength and higher level of compliance and internal control standards are encouraged to set up international headquarters in Hong Kong, on the premise of compliance with laws and regulations in a risk-controlled manner and voluntary commercial participation, to consolidate their businesses and management functions outside the Mainland. We support major Chinese securities firms' plans, in compliance with laws and regulations, to increase capital for their subsidiaries in Hong Kong, and utilise Hong Kong as a booking centre for risk management and capital market operations.
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Encourage Enterprises to Establish Corporate Treasury Centres and Sourcing Centres in Hong Kong
84. The Government has completed its review of tax concessionary measures applicable to CTCs, as well as a public consultation on recommendations to provide pre approved CTCs and their associated companies with additional tax benefits and flexibilities. An amendment bill is expected to be introduced into the LegCo in the first half of 2027.
85. A tax concession of 5%, or half-rate, may be offered under the preferential policy packages on attracting enterprises and investments, depending on the investment plan of individual enterprises and their actual contribution to Hong Kong's economy. This will attract high value-added enterprises to set up headquarters or regional headquarters in Hong Kong to manage their supply chain and sourcing businesses.
Strengthen Innovation and Technology Enterprises
86. The Government launched the Pilot Innovation and Technology Accelerator Scheme in January. It was designed to accelerate the growth of innovation and technology (I&T) companies, by attracting professional I&T enterprise service providers with proven track records in and beyond Hong Kong to set up accelerator bases in Hong Kong.
87. One of them has set up an accelerator base at Cyberport, serving nearly 100 member enterprises, including eight listed companies with a total market value exceeding $180 billion. Focusing on key industries such as AI, embodied intelligence and robotics, new energy and new materials, and biomedicine, the company assists I&T companies in going global by leveraging Hong Kong's I&T ecosystem, application scenarios, capital markets and overseas networks.
88. The Green Tech Fund also supports Hong Kong research institutions and companies in conducting research and development (R&D) in Hong Kong and the Mainland to develop low-carbon technologies with commercialisation potential, helping more green technologies and products to go global.
Empower the Transformation and Upgrading of Traditional Industries through Supply Chain Services
89. The Development Bureau (DEVB) has signed a co-operation agreement with the relevant Mainland organisation to establish a collaborative mechanism for construction standardisation and jointly formulate the GBA construction standards. This will help local and Mainland construction companies venture into the global market by making good use of Hong Kong's strengths in areas such as testing and certification. Advanced construction technology will be showcased by organising international conferences and large-scale events, reinforcing Hong Kong's position as an international infrastructure centre.
90. The Government will establish the Task Force on High Quality Development of Textile and Fashion Industry, to be led by the Secretary for Commerce and Economic Development. It will enhance collaboration between government and industry representatives to pursue high-quality development of the textile and fashion industry in areas including I&T, fashion design, supply chain management, sustainable development and brand promotion, as well as nurturing talent, thereby assisting the industry to connect with Mainland and overseas markets.
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Pursue the Comprehensive Upgrade of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA)
91. Following the signing of an amendment agreement under the framework of CEPA in 2024, which further liberalised trade in services with the Mainland, the Commerce and Economic Development Bureau (CEDB) will sign a Memorandum of Understanding (MoU) with the Ministry of Commerce and continue to jointly pursue the comprehensive upgrade of CEPA, with a view to deepening co-operation with the Mainland services sectors, as well as further expanding the Mainland market access and liberalised areas.
Expand International Economic and Trade Network
92. We will continue to deepen our ties overseas, including the European, American, ASEAN and Middle East markets, while actively exploring emerging markets such as Central Asia and Africa, and focus on economies of high potential and strategic importance, with a view to forging closer economic and trade co-operation.
93. With the Economic and Trade Office (ETO) in Kuala Lumpur having officially commenced operation, the four ASEAN-based ETOs will deepen Hong Kong's trade and investment promotion in ASEAN and neighbouring Asian countries.
94. We are exploring the establishment of an ETO in Kazakhstan, and in the meantime leveraging the existing networks of the ETOs, the Hong Kong Trade Development Council (HKTDC) and InvestHK to step up trade and investment promotion work in priority Central Asian countries.
95. We signed an investment agreement with Bangladesh just last week, and will work towards signing investment agreements with Qatar and Peru as early as possible. We are negotiating new investment agreements with Saudi Arabia and Egypt. We are also exploring new investment agreements with Kazakhstan and Uzbekistan.
Promote the Development of Digital Trade
96. Upon coming into full operation, Phase 3 services of the Trade Single Window will provide a single consolidated platform for submission of import and export declarations and cargo information regarding different transport modes, to help the trade improve efficiency and reduce operating costs.
97. The Government will expand the "Single Submission for Dual Declaration" Scheme with the General Administration of Customs of the People's Republic of China to cover more trade documents and transport modes, and advance connectivity with ASEAN's Single Window. The Trade Single Window will also connect with the HKMA's Commercial Data Interchange (CDI) in mid 2027, facilitating banks in making reference to trade data for processing financing applications.
98. The Government will introduce, within this year, a bill on facilitating the digitalisation of "business to business" trade documents, to reduce the administrative costs of businesses and improve traceability of trading activities.
99. The HKMA will explore further applications of tokenised deposits, including collaborating with the Mainland to study trade-financing use cases, with pilot transactions to be completed by the end of the year.
Hong Kong Convention and Exhibition Centre, Photo source: reference image
Promote the Development of Convention and Exhibition Industry
100. The Government is taking forward the Wan Chai North Redevelopment project, as planned, for the expansion of the Hong Kong Convention and Exhibition Centre and related facilities. A task force to be led by the Deputy Financial Secretary will be set up to steer the project. The HKTDC will submit a proposal on the development approach of the project to the Government early next year.
101. The Government has earmarked $100 million to attract high-quality, large-scale international exhibitions with new elements to Hong Kong. The first such international flagship exhibition brought to Hong Kong will be held in November, centred around super yachts, as well as premium lifestyle elements, and featuring international leading brands.
All users in the sites of the Wan Chai Government Offices Compound and the Kong Wan Fire Station in Wan Chai North will be moved out within 2028.
