HKSAR LegCo strongly opposes and disapproves of remarks by UK FCDO official on Hong Kong Alliance case
The following is issued on behalf of the Legislative Council Secretariat:
A spokesperson for the Legislative Council (LegCo) of the Hong Kong Special Administrative Region (HKSAR) today (October 5) expressed strong opposition to and disapproval of the untruthful remarks made by an official of the Foreign, Commonwealth and Development Office (FCDO) of the United Kingdom (UK) responsible for Indo-Pacific affairs regarding the sentencing of the "Hong Kong Alliance" case. In a recent letter reply to members of the UK Parliament, the official smeared Hong Kong's judicial system and interfered in Hong Kong's affairs.
The Legislative Council, Photo source: reference image
The LegCo spokesperson stated that Hong Kong is a society underpinned by the rule of law. LegCo firmly supports the Court of First Instance of the High Court in handing down sentences in the case in accordance with the law, considering that the judgment demonstrates legal justice and strongly safeguards the HKSAR's constitutional order established by the Constitution of the People's Republic of China (PRC) (the Constitution) and the Basic Law of the HKSAR of the PRC (the Basic Law). LegCo resolutely opposes any foreign forces making malicious smears, slanderous attacks, and taking the opportunity to interfere in China's internal affairs regarding the case.
The LegCo spokesperson reiterated that, as pointed out earlier by the HKSAR Government in response to the UK's so-called six-monthly report on Hong Kong, the core essence of the Sino-British Joint Declaration is about China's resumption of the exercise of sovereignty over Hong Kong. It did not authorise the UK to interfere in Hong Kong's affairs after its return to the motherland. Thereafter, the UK has no sovereignty, jurisdiction or right of supervision over Hong Kong.
The LegCo spokesperson pointed out that the allegation, which was made by the UK FCDO's official responsible for Indo-Pacific affairs, that the defendants in the case were convicted merely for "peaceful acts of remembrance" completely disregards facts and misleads the public. The court pointed out in its reasons for sentence that the defendants were not on trial for their political thoughts or acts prior to the implementation of the Hong Kong National Security Law (HKNSL). The convictions were purely because, after the HKNSL came into effect, they continued to pursue the goal of overthrowing and undermining the leadership of the Communist Party of China (CPC) as established under the Constitution by committing various incitement criminal acts. Those acts attempted to cause Hong Kong citizens to lose trust in the Communist Party, thereby achieving the objective of undermining the fundamental system of the state, gravely endangering national security. The UK official's attempt to glorify criminal acts endangering national security as peaceful activities is a blatant trampling on the spirit of the rule of law.
The Hong Kong Alliance case, Photo source: reference image
The LegCo spokesperson also reiterated that the Constitution is the fundamental law of the state, clearly specifying that the CPC's leadership is the core and foundation of the state's constitutional order. No country's constitution allows its citizens to subvert the established constitutional order and fundamental system of the state. The UK itself maintains various stringent laws safeguarding national security, yet makes unreasonable criticisms against the legitimate measures of the HKSAR in safeguarding national security in accordance with the law. This is a typical act of hypocrisy with double standards. The LegCo spokesperson requests the British side immediately stops the acts of interfering in Hong Kong's affairs.
In fact, since the implementation of the HKNSL and the Safeguarding National Security Ordinance, the cornerstone of Hong Kong's rule of law has become more solid, and the various freedoms lawfully enjoyed by citizens have received more substantial protection. Various international indicators and rankings show that Hong Kong is a safe and stable city suitable for living and investment. As an integral member of the HKSAR's governing team, LegCo firmly supports the HKSAR Government in fully and faithfully implementing laws safeguarding national security, safeguarding high-quality development of the country and Hong Kong with high-level security, and ensuring the steadfast and successful implementation of the "one country, two systems" principle.
The National Security Law, Photo source: AP News
HKMA hosts CargoX Solution Day to promote regional trade data connectivity
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) today (October 5) successfully organised the CargoX Solution Day. The event served as a platform for key stakeholders in the cargo and trade data ecosystem to exchange insights and showcase the innovative solutions in enhancing trade data connectivity to regional levels under the CargoX Pilot Programme.
Themed "From local to regional trade data connectivity: shaping the future of trade finance through innovative CargoX pilots", the Solution Day attracted over 300 industry professionals from banks, cargo and trade data providers, government agencies and partners of Commercial Data Interchange (CDI). The event featured keynote speeches, panel discussions and solution presentations, focusing on strengthening trade data connectivity with Hong Kong's key trading partners, such as the Chinese Mainland and the Association of Southeast Asian Nations (ASEAN) economies, as well as integrating CDI with key government cargo and trade data platforms.
A highlight of the CargoX Solution Day was the signing of a Memorandum of Understanding (MoU) between the HKMA and the PAA Digital Trade Alliance (PAA) (Note 1)to promote trade finance digitalisation. The two parties will commence joint innovation projects on enhancing cargo and trade data connectivity between Hong Kong and PAA member economies, thereby catalysing data-driven innovation in financial services and enhancing trade finance availability in the region.
During the Solution Day, the HKMA also shared results achieved under the CargoX Pilot Programme, particularly its progress in enhancing connectivity with key trade corridors. In collaboration with the Shanghai Data Bureau (SDB), the HKMA has successfully established a link-up between CDI and a digital trade platform developed by the SDB. Known as "CargoX Connect", this collaboration has enabled five pilot banks (Note 2)to access and utilise trade declaration data from the Yangtze River Delta region, serving as the first pilot cohort. This development facilitates various trade finance processes, such as trade verification and due diligence on trade counterparts, resulting in faster loan drawdowns for Hong Kong businesses engaging in both onshore and offshore trade. To date, this pilot has enabled the approval of ten trade finance loans amounting to HK$180 million. The HKMA intends to extend this successful model to other provinces and cities in the Chinese Mainland as the next phase of development.
Building on these encouraging developments in collaboration with the SDB and the PAA, through CargoX, the HKMA will continue to leverage Hong Kong's role as a super-connector to strengthen trade data connectivity along key corridors, including the Chinese Mainland and ASEAN. The ultimate goal is to enhance the transparency of cross-border trade transactions, thereby unlocking trade finance opportunities and supporting the growth of small and medium-sized enterprises (SMEs) in the region.
Deputy Chief Executive of the HKMAMr Howard Leesaid, "Today's CargoX Solution Day serves as a vital platform to showcase how the CargoX Pilot Programme is translating strategic recommendations into tangible actions. Building on the encouraging progress of the CargoX pilot projects, the signing of the MoU with the PAA marks a significant milestone in our endeavour to enhance regional trade data connectivity, including ASEAN economies, for more streamlined SME trade financing. By leveraging our CDI data infrastructure, CargoX will continue to expand from local to regional levels, building a more efficient and inclusive digital trade ecosystem across borders. This ultimately contributes to SME growth and fosters seamless international trade."
The Chair of the PAA, Tan Sri Syed Zainal Abidin Syed Mohamed Tahir,said, "The signing of this MoU with the HKMA marks a transformative step forward for cross-border trade finance in the region. By seamlessly bridging the PAA's robust regional network with Hong Kong's cutting-edge CDI infrastructure, we are unlocking the true power of data-driven finance. Together, we will eliminate the traditional frictions in international trade, giving SMEs across ASEAN and neighbouring economies unprecedented access to capital. We are excited to co-create a more inclusive, resilient, and fully digitised regional trade ecosystem."
Note 1: The PAA is a global alliance comprising trade single window operators and e-commerce service providers from 15 economies, including ASEAN member states.
Note 2: These pilot banks include Bank of China (Hong Kong), Hang Seng Bank, The Hongkong and Shanghai Banking Corporation, Industrial and Commercial Bank of China (Asia) and Standard Chartered Bank (Hong Kong).
The Hong Kong Monetary Authority (HKMA) today (October 5) successfully organised the Cargox Solution Day. Photo shows Deputy Chief Executive of the HKMA Mr Howard Lee (centre); Deputy Director of the Shanghai Data Bureau Mr Weng Yicong (fifth right); the Chair of the PAA Digital Trade Alliance, Tan Sri Syed Zainal Abidin Syed Mohamed Tahir (fifth left); the Executive Director (Financial Infrastructure) of the HKMA, Mr Nelson Chow (second left) and other key partners in the digital trade ecosystem exchange insights on enhancing cargo and trade data connectivity at the Cargox Solution Day. Source: HKSAR Government Press Releases
The Hong Kong Monetary Authority (HKMA) today (October 5) successfully organised the Cargox Solution Day. Photo shows Deputy Chief Executive of the HKMA Mr Howard Lee (left), and the Chair of the PAA Digital Trade Alliance, Tan Sri Syed Zainal Abidin Syed Mohamed Tahir (right), signing the Memorandum of Understanding to promote digital trade and trade finance digitalisation. Source: HKSAR Government Press Releases
The Hong Kong Monetary Authority (HKMA) today (October 5) successfully organised the CargoX Solution Day. Photo shows Deputy Chief Executive of the HKMA Mr Howard Lee delivering opening remarks at the CargoX Solution Day. Source: HKSAR Government Press Releases
