Chief Executive Celebrates 70th Anniversary of 1956 Hungarian Revolution and Freedom Fight

Speech by CE at National Day Reception of Hungary Commemorating 70th Anniversary of 1956 Revolution and Freedom Fight 

Following is the speech by the Chief Executive, Mr John Lee, at the National Day Reception of Hungary Commemorating the 70th Anniversary of the 1956 Revolution and Freedom Fight today (October 21):

Acting Consul-General Dr Olga Gégény (Acting Consul-General of Hungary to Hong Kong), Deputy Commissioner Hua You (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region), distinguished guests, ladies and gentlemen,

Good evening. It is a pleasure to be here with you tonight in honour of Hungary's National Day - this year celebrating the 70th anniversary of the 1956 Hungarian Revolution.

This month also marks the 77th anniversary of the establishment of diplomatic relations between China, our country, and Hungary.

Under the "one country, two systems" principle, Hong Kong enjoys both the China advantage and the global advantage. We are dedicated to our role as a "super connector" and "super value-adder" between our country and the world. That very much includes Hungary. Last year, about US$1.2 billion - nearly 8 per cent of the total trade between the Chinese Mainland and Hungary - was routed through Hong Kong.

Hong Kong was also Hungary's third-largest Asian investor in 2024, with an inward foreign direct investment stock of 4.1 billion euros.

I'm pleased to note that the ties between Hong Kong and Hungary are strong and growing.

Last month, our Trade Development Council organised a Hong Kong Logistics Services Mission to Budapest. The mission helped to better realise the long-term promise in combining the strengths of our respective logistics hubs. Together, I'm confident we can boost connections between our two economies, and between Central and Eastern Europe and Asia.

Last month, too, our Secretary for Innovation, Technology and Industry, Professor Sun Dong, was in Hungary, looking to expand I&T (innovation and technology) links between our two economies. There, he visited the Center for Molecular Fingerprinting, which is dedicated to the early detection of diseases through infrared, electric-field molecular technology. And I'm pleased to note that the Center will work with one of our universities and carry out research projects in our city.

In March, Corvinus University of Budapest signed a co-operation agreement with an InnoHK Centre of another one of our universities. Their joint research project seeks to enhance the trustworthiness of artificial intelligence.

Supported by the National 15th Five-Year Plan and spurred by Hong Kong's First Five-Year Plan, we are committed to developing Hong Kong into an international I&T centre. There is much Hong Kong and Hungary can achieve in working together, given your country's strong industrial base and world-class I&T talent and capabilities.

Hong Kong is fast rising as an I&T hub, anchored by the Northern Metropolis development and our growing integration with the Guangdong-Hong Kong-Macao Greater Bay Area. And I invite Hungarian companies and strategic professionals to look to the Northern Metropolis, and Hong Kong in general, for their innovative future.

I see, also, vast opportunities for our co-operation in finance. I'm pleased to note that the National Bank of Hungary plans to send a high-level delegation here next month for our annual Hong Kong FinTech Week x StartmeupHK Festival.

Last year, this event attracted a record high of over 45 000 professionals from some 120 economies. It also featured over 1 000 speakers, more than 30 Mainland and international delegations and some 800 exhibitors, including Hungary's National Innovation Agency.

Beyond business and finance, Hong Kong has enjoyed a wealth of Hungarian arts and cultural performances this year, with more on the way.

That includes the culture of wine. Hungary, one of the world's oldest wine-producing countries, will feature a fine wine pavilion at the Hong Kong International Wine & Spirits Fair next month. And, needless to say, Hungarian wine will be turning heads at the Wine & Dine Festival, set to make its highly anticipated return next week.

On that note, I wish Hungary continued prosperity in the years to come, and all of you a wonderful evening. Thank you very much.

The Chief Executive, Mr John Lee, attended the National Day Reception of Hungary Commemorating the 70th Anniversary of the 1956 Revolution and Freedom Fight today (October 21). Photo shows (from left) the Acting Consul-General of Hungary to Hong Kong, Dr Olga Gégény; Mr Lee; and Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region Mr Hua You at the reception. Source: HKSAR Government Press Releases

The Chief Executive, Mr John Lee, speaks at the National Day Reception of Hungary Commemorating the 70th Anniversary of the 1956 Revolution and Freedom Fight today (October 21). Source: HKSAR Government Press Releases

Inland Revenue (Amendment) (Tax Deductions for Intellectual Property Expenditure) Bill 2026 to be introduced into LegCo for First Reading and Second Reading

The following is issued on behalf of the Legislative Council Secretariat:

The Legislative Council (LegCo) will hold a meeting on Wednesday (October 28) at 11am in the Chamber of the LegCo Complex. During the meeting, the Inland Revenue (Amendment) (Tax Deductions for Intellectual Property Expenditure) Bill 2026 and the Supplementary Appropriation (2025-2026) Bill will be introduced into the Council for the First Reading and the Second Reading. The Second Reading debates on the Bills will be adjourned.

On Members' motions, Mr Augustine Wong will move a motion on "Expediting the redevelopment of old districts". The motion is set out in Appendix 1. Mr Yang Wing-kit, Mr Kingsley Wong and Ms Kwok Fu-yung will move separate amendments to Mr Wong's motion.

Mr Tang Fei will move a motion on "Promoting teachers' professional development in the new era". The motion is set out in Appendix 2.

Meanwhile, Mr Holden Chow will move a proposed resolution under section 34(4) of the Interpretation and General Clauses Ordinance to extend the period for amending subsidiary legislation. The proposed resolution is set out in Appendix 3.

Members will also ask the Government 22 questions on various policy areas, six of which require oral replies.

The agenda of the above meeting is available on the LegCo Website (www.legco.gov.hk). Members of the public can watch or listen to the meeting via the "Webcast" system on the LegCo Website. To observe the proceedings of the meeting at the LegCo Complex, members of the public may call 3919 3399 during office hours to reserve seats.

Source: AI-found images