Land Registry releases Trading Fund Annual Report
The Land Registry (LR) today (October 28) released the Land Registry Trading Fund (LRTF) Annual Report 2025/26.
The Land Registrar, Mr Bruno Luk, said, "In 2025/26, our revenue and profit (including interest income) registered an increase of 11.1 per cent to $443.7 million and 580.8 per cent to $71.4 million respectively. This was mainly due to higher revenue from registration of documents, driven by an increase in instruments lodged, and further supported by fee revisions of several registration services in July 2025. The LRTF recorded a positive overall financial return on fixed assets of 3.7 per cent, a significant increase from -12.3 per cent in 2024/25. We continued to reinforce cost discipline through efficiency initiatives and streamlined workflows."
Mr Luk said that significant progress has been made in advancing the title registration system (TRS) for new land. Following the passage of the Registration of Titles and Land (Miscellaneous Amendments) Bill 2025 by the Legislative Council (LegCo) in September 2025, preparatory work for the implementation of the TRS is in full swing. The Government has tabled the subsidiary legislation at the LegCo on October 21, and is planning publicity and educational activities for the general public and industry practitioners with a view to implementing the TRS for new land in the first half of 2027.
Regarding the conversion of existing land to the TRS, the LR has launched internal research to evaluate the scope and types of title issues present in the existing three million land registers by conducting sample screening to facilitate the formulation of feasible conversion proposals. The Government has shared the preliminary findings from these screening exercises and the initial views on conversion proposals with LegCo Panel on Development in July this year. The LR aims to formulate a conversion proposal for discussion with stakeholders after implementing the TRS on new land, with a view to expanding the TRS to existing land progressively. The LR expected that the experience gained after the implementation of the TRS on new land will facilitate various parties in reaching a consensus on the conversion mechanism.
In alignment with the Government's vision to leverage artificial intelligence (AI)and digital technologies for enhancing public service, the LR has further expanded digital access capabilities for financial institutions by broadening the application programming interface coverage to include Owner's Properties Information Check service in January this year through collaboration with the Hong Kong Monetary Authority and the Digital Policy Office. The LR has also commenced an AI proof-of-concept study to screen the title chain of the existing three million land registers to facilitate the conversion of existing land from the deeds registration system to the TRS. Furthermore, the LR is developing a new e-lodgement system to support online registrations under the TRS which will be implemented in 2027.
The Annual Report was tabled in the LegCo today. It can also be viewed or downloaded from the LR's website (www.landreg.gov.hk).
Source: AI-found images
Hong Kong Customs conducts interdepartmental anti-illicit cigarette publicity campaigns at Model Housing Estate in Eastern District
Hong Kong Customs today (October 28) conducted joint anti-illicit cigarette publicity campaigns with the Tobacco and Alcohol Control Office (TACO) of the Department of Health and the Housing Department (HD) at Model Housing Estate in Quarry Bay. Customs also publicised the Duty Stamp System.
Customs officers patrolled the housing estate and introduced to residents Customs' enforcement actions against illicit cigarettes, and reminded them that the maximum penalty for offences related to duty-not-paid cigarettes has been increased to a $2 million fine and seven-years' imprisonment. Customs also explained to estate security personnel how to deal with suspected illicit cigarette activities.
Customs officers also introduced to the residents the Duty Stamp System to be implemented in Hong Kong. The three-month Pilot Run for the Duty Stamp System launched by Customs concluded early this year. The department will continue to maintain close communication with all stakeholders and optimise the design and implementation details of the system. Customs expects the Duty Stamp System to achieve the ultimate goal of effective distinguishment of duty-paid cigarettes from duty-not-paid ones, and to combat "cheap whites".
Customs will continue to strengthen publicity and education to raise public awareness of anti-illicit cigarettes. If public rental housing units are found to be involved in illicit cigarette crimes, Customs will notify the HD for follow-up action after the conclusion of court proceedings. Customs reminds members of the public not to buy or sell illicit cigarettes or distribute illicit cigarette leaflets to avoid creating a criminal record that could affect their future.
Under the Dutiable Commodities Ordinance (Cap. 109), anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years. Members of the public are urged to report any suspected illicit cigarette activities to Customs' 24-hour hotline 182 8080, its dedicated crime-reporting email account(crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002/en).
In accordance with the Smoking (Public Health) Ordinance (Cap. 371), no person shall distribute any smoking product advertisement (including any promotional leaflet). Any person who contravenes the regulation is liable to a maximum fine of $50,000. Members of the public are also urged to report any suspected activities of illicit cigarette leaflet distribution to TACO's hotline 2961 8823.
Hong Kong Customs conducts interdepartmental anti-illicit cigarette publicity campaigns at Model Housing Estate in Eastern District Source: HKSAR Government Press Releases
Hong Kong Customs conducts interdepartmental anti-illicit cigarette publicity campaigns at Model Housing Estate in Eastern District Source: HKSAR Government Press Releases
Hong Kong Customs conducts interdepartmental anti-illicit cigarette publicity campaigns at Model Housing Estate in Eastern District Source: HKSAR Government Press Releases
