Asian Ethnic Cultural Performances+ 2026 to Foster Cultural Exchanges with Belt and Road Countries and Regions

Asian Ethnic Cultural Performances+ 2026 to foster cultural exchanges with Belt and Road countries and regions

The outdoor carnival Asian Ethnic Cultural Performances+ 2026 (AECP+), the finale programme of the Asia+ Festival 2026, will be held on November 22 from 2pm to 6pm at the Hong Kong Cultural Centre Piazza and Foyer, bringing together representatives from around 30 Belt and Road countries and regions. Admission is free, and members of the public and tourists are welcome to join and experience the charm of cultural exchanges and diversity.

With the theme "Blessings in Full Bloom", this year's AECP+ will celebrate unity through ritual and share blessings in art, creating cultural resonance and showcasing the vibrant spirit of diverse ethnic groups. The carnival will feature dance and music performances of different ethnic styles. Cultural booths and workshops will also be set up, presenting exquisite crafts and signature snacks from various countries and regions.

Concurrently, an eight-day exhibition, "Convergence of Cross-Cultural Gifting - Ethnic Cultural Exhibition", will be staged at the Hong Kong Cultural Centre Foyer from November 22 to 29, featuring handicrafts including woven textiles, oil painting, and porcelains from various countries and regions.

AECP+ has received enthusiastic support from various consulates-general and overseas cultural organisations in Hong Kong. Participating countries and regions include Bangladesh; Belarus; Brunei Darussalam; Cambodia; the Dominican Republic; Egypt; Hungary; Indonesia; Iran; Kazakhstan; Korea; Kuwait; Laos; Malaysia; Myanmar; Nepal; Nigeria; Pakistan; the Philippines; Qatar; Russia; Saudi Arabia; Singapore; Sri Lanka; Thailand; Türkiye; Uruguay; Vietnam; Zimbabwe; Guangzhou, China; Hong Kong, China and Macao, China.

Highlights of AECP+ will be made available online. For programme details, please visit the website of the Community Programmes Office of the Leisure and Cultural Services Department (LCSD) (https://www.cpo.gov.hk/activity/en-aecp-2026-carnival/) or call 2591 1340.

Presented by the Culture, Sports and Tourism Bureau and organised by the LCSD, the Asia+ Festival is held annually from September to November. This year, artists from over 30 Asian and Belt and Road countries and regions will take part in the festival, featuring over 100 performances and activities. For details, please visit www.asiaplus.gov.hk or call 2370 1044.

The outdoor carnival Asian Ethnic Cultural Performances+ 2026, the finale programme of the Asia+ Festival 2026, will be held on November 22 from 2pm to 6pm at the Hong Kong Cultural Centre Piazza and Foyer, bringing together representatives from around 30 Belt and Road countries and regions. With the theme "Blessings in Full Bloom", this year's event will celebrate unity through ritual and share blessings in art, creating cultural resonance and showcasing the vibrant spirit of diverse ethnic groups. Source: HKSAR Government Press Releases

The outdoor carnival Asian Ethnic Cultural Performances+ 2026, the finale programme of the Asia+ Festival 2026, will be held on November 22 from 2pm to 6pm at the Hong Kong Cultural Centre Piazza and Foyer, bringing together representatives from around 30 Belt and Road countries and regions. An eight-day exhibition, "Convergence of Cross-Cultural Gifting - Ethnic Cultural Exhibition", will also be staged at the Hong Kong Cultural Centre Foyer from November 22 to 29, featuring handicrafts including woven textiles, oil painting, and porcelains from various countries and regions. Source: HKSAR Government Press Releases

The outdoor carnival Asian Ethnic Cultural Performances+ 2026, the finale programme of the Asia+ Festival 2026, will be held on November 22 from 2pm to 6pm at the Hong Kong Cultural Centre Piazza and Foyer, bringing together representatives from around 30 Belt and Road countries and regions. Members of the public and tourists are welcome to join in and experience the charm of cultural exchanges and diversity. Source: HKSAR Government Press Releases

The outdoor carnival Asian Ethnic Cultural Performances+ 2026, the finale programme of the Asia+ Festival 2026, will be held on November 22 from 2pm to 6pm at the Hong Kong Cultural Centre Piazza and Foyer, bringing together representatives from around 30 Belt and Road countries and regions. Cultural booths and workshops will be set up, presenting exquisite crafts and signature snacks from various countries and regions. Source: HKSAR Government Press Releases

Speech by FS at Asian Insurance Forum 2026

Following is the speech by the Financial Secretary, Mr Paul Chan, at the Asian Insurance Forum 2026 today (November 13):

Vice Minister Cong Lin (Vice Minister of the National Financial Regulatory Administration Mrs Cong Lin), Deputy Director Zhang Yong (Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region Mr Zhang Yong), Stephen (Chairman of the Insurance Authority, Mr Stephen Yiu), Clement (Chief Executive Officer of the Insurance Authority, Mr Clement Cheung), distinguished guests, ladies and gentlemen,

Good afternoon. It is a pleasure to join you at the Asian Insurance Forum 2026, the flagship annual gathering of the insurance industry.

A warm welcome to participants from Hong Kong, the Mainland and around the world, in particular delegates of the IAIS (International Association of Insurance Supervisors) Annual Conference, which was held in this city for the first time. This afternoon, we continue the international dialogue with a focus on Asia.

The theme, "The Resilience Blueprint amid Polycrisis", speaks directly to the challenges before us.

"Polycrisis" is not an everyday word, but the idea is familiar. A shipping disruption can delay not only trade, but also the materials needed to rebuild after a natural disaster. One crisis makes another harder to overcome.

Geopolitical tensions are redrawing supply chains and trade routes. Climate hazards threaten homes, businesses and infrastructure. Cyber threats and artificial intelligence are changing both the risks insurers cover and the way insurers work.

Insurance gives individuals, families and businesses the confidence to move forward amid uncertainty. In a changing world, the insurance sector must strengthen its own resilience too. That means enhancing its own capabilities while opening up new frontiers, by meeting the needs of new industries and helping people, businesses and economies to better manage emerging risks.

We can think of resilience as bamboo. Its roots hold firm. Its stems bend with the wind. And its new shoots keep rising.

Rooted in strength, flexible in adversity and ready to grow - that is the resilience we need in an age of polycrisis.

Firm roots

Our firm roots lie in the "one country, two systems" framework. Hong Kong combines close connections with the Mainland with a common law system, free flows of capital and international connectivity. For insurers, these strengths mean a trusted legal framework for long-term commitments, access to international capital and opportunities to serve a vast market.

The National 15th Five-Year Plan supports Hong Kong as an international risk management centre. Our own very first Five-Year Plan, published in September, places insurance within our "Finance+" vision: leveraging finance to support development across different sectors of the economy.

Today, Hong Kong is home to around 160 authorised insurers, including six of the top 10 insurance groups worldwide. Last year, gross premiums reached HK$827 billion, up 30 per cent. In the first half of this year, premiums rose by more than 35 per cent.

More insurers are also choosing Hong Kong as their legal home. By the end of June, two had transferred their registration here under our new re-domiciliation regime. These are a vote of confidence in, and long-term commitments to, our city.

But a growing market must also be a sound one. Our risk-based capital regime, in force since July 2024, aligns insurers' capital requirements with the risks they take. It encourages prudent risk management and helps ensure that insurers have the financial resources to absorb losses and meet their obligations to policyholders, even in difficult times.

Public disclosure rules, which came into effect in May this year, require insurers covered by the rules to publish annual information on their financial position, capital adequacy and risk management. These disclosures give policyholders and market participants a clearer picture of insurers' financial strength and reinforce market discipline.

Together, the two measures help protect policyholders and strengthen confidence in the sector.

But financial strength also depends on their investment. Insurers make promises that extend many years ahead, and need assets that support those commitments.

We have lowered capital requirements for eligible infrastructure investments in Hong Kong and the Mainland, effective from the end of this year. This will release more insurance capacity for projects, including those in the Northern Metropolis.

The fit is a natural one. Infrastructure needs long-term funding. Insurers need assets that support long-term commitments while the safeguards for policyholders remain in place.

On broadening investment choices, I should also mention that in August, the National Financial Regulatory Administration announced its support for Mainland insurance funds to invest in eligible ETFs (exchange-traded funds) listed in Hong Kong. Mainland insurers can make these investments through Southbound Stock Connect.

Vice Minister Cong, we are grateful for that decision. It broadens investment choices for Mainland insurers and brings additional liquidity to our capital market.

New shoots

A solid foundation gives us the confidence to break new ground. As the economy changes, so do the risks that need to be covered. We are opening up new markets in a number of areas.

The first one is marine insurance. When shipping routes come under threat, shipowners need reliable cover. Last November, five insurers launched a marine specialty risk pool covering war and related risks for Hong Kong and Mainland shipowners.

It began with a handful of vessels. Today, it protects more than 1 000.

The Government and the Insurance Authority will work with the industry to expand the pool's underwriting capacity. Separately, the Government and the Insurance Authority will help the Hong Kong Shipowners Mutual Assurance Association conduct international business in Hong Kong, with support from the China Shipowners Mutual Assurance Association.

The second is specialty insurance for emerging industries. As Hong Kong develops gold storage, commodity trading and green marine fuels, we will work with insurers to strengthen their underwriting capacity and product offerings.

A dedicated hotline already connects market participants with insurers covering precious metals in storage and transit. Meanwhile, at least 15 insurers also offer products for unmanned aircraft, supporting the low-altitude economy.

Artificial intelligence is changing both sides of the insurance equation. It creates new exposures, from sophisticated fraud to liability for automated decisions. It also gives insurers better tools to assess risks, detect fraud, process claims and invent new business models.

We are helping the industry put these tools to work responsibly. The Insurance Authority's AI Cohort Programme brings insurers and technology firms together to develop applications and nurture talent. Through the expanded generative AI sandbox launched in March, insurers can test new tools in a controlled environment, refine them with regulatory feedback before rolling them out to the market.

The third is insurance-linked securities, which bring in investors from the capital market who have the appetite for specified insurance risks.

Eight insurance-linked securities have now been issued in Hong Kong. Seven were catastrophe bonds. The latest, issued last month, was Hong Kong's first "sidecar", allowing investors to share the risks and returns of insuring offshore wind farms on the Mainland.

We are exploring legislation for a "protected cell company" structure to make such arrangements easier and less costly to establish. Multiple transactions could use one company while keeping their assets and liabilities legally separate.

The terminology may be technical. But the purpose is not.

In 2024, the World Bank issued and listed a US$150 million catastrophe bond here in Hong Kong to help protect Jamaica against hurricanes. Such bonds provide funding when disasters reach a specified severity, helping affected communities recover and rebuild.

When Hurricane Melissa struck Jamaica in October last year, it triggered a full payout under the bond. The funding helped the government support repairs to the electricity network, restoring power to homes and businesses sooner than would otherwise have been possible.

That is the human value of a financial instrument: a bond listed in Hong Kong helping to turn the lights back on the other side of the globe.

Ladies and gentlemen, we cannot promise a world without shocks. But we can help ensure that a shock does not erase years of hard work, or put recovery beyond reach.

That is what firm roots and new shoots in insurance are for: the strength to honour promises, and the ability to bring protection where it is most needed.

In an increasingly complex world, risks do not stop at borders, and their effects rarely stay within one market. Our response must be a co-ordinated and holistic one, too. We need to share expertise, learn from one another and work together to close protection gaps.

Hong Kong is determined to play its part. The Asian Insurance Forum provides a valuable platform for industry leaders and regulators to exchange insights and forge partnerships. Let us turn that dialogue into co-operation that brings protection and benefits to more people, businesses and communities.

I wish the Forum every success, and all of you good health and prosperity. Thank you.