REVIEW January 2018

Hong Kong Economic HONG and Trade Office, London KONG Chief Executive visits UK

arrie Lam, Hong Kong Chief Executive, visited London in Above: Mrs Lam addresses the Think Asia, Think CSeptember, where she was Guest Hong Kong symposium in London in September. of Honour at the annual Hong Kong Dinner organised by the Hong Kong Trade development. Education is a priority for Development Council (HKTDC). Hong Kong, said Mrs Lam, who has Noting in her speech at the event that announced that her Government will in 2017 Hong Kong marked the 20th spend HK$3.6 billion of recurrent funding anniversary of its return to the motherland on creating quality education, benefiting and the successful implementation of schools, teachers and students. “one country, two systems”, Mrs Lam During a meeting with , Above: Philip Hammond, UK Chancellor of the said that the rule of law and judicial Exchequer, with Mrs Lam at the annual dinner UK Chancellor of the Exchequer, Mrs Lam independence, which are the cornerstones of the Hong Kong Trade Development Council. discussed issues including financial of Hong Kong’s success, are safeguarded technology, green finance and the Belt by the Basic Law and would not waver. Crossrail, which is creating a new rail and Road Initiative. She also met UK art Citing President Xi’s pledge of China’s link between east and west London. and design leaders and said she was support for Hong Kong during his visit The service will be operated by MTR looking forward to establishing closer there in July, Mrs Lam said developments Corporation, a Hong Kong company, cultural ties with the UK to enrich arts and such as the Belt and Road Initiative reflecting international recognition of culture in Hong Kong. The Government is (see page three) would bring huge the quality of Hong Kong’s transport committed to developing Hong Kong into opportunities for Hong Kong. This success operating services. an international arts and cultural hub, would be underpinned by Hong Kong’s Later Mrs Lam and UK Schools she said. core values, she said. Minister attended a roundtable discussion with education leaders, Asia growth Crossrail and Hong Kong hosted by the British Council, where they Addressing the Think Asia, Think Hong While in London, Mrs Lam visited one of talked about issues including teacher Kong symposium, organised by the the world’s largest engineering projects, empowerment and professional Continued on page 2 ‘Hope and happiness’ policy address ALSO IN THIS ISSUE... Delivering her first policy address since her election as Fintech Chief Executive last year, outlined her Government’s flourishing strategies for promoting economic development and fostering Page 3 a more harmonious society. She identified governance as her top priority. “Good governance Celebrating is vital whether in discharging the responsibilities of the Government Hong Kong’s as a service provider or a regulator, or in taking up the new roles of 20th Anniversary the Government as a facilitator and a promoter,” she said, speaking Pages 4-5 at the Legislative Council in October. Hong Kong and Ta x cu t s ASEAN sign free Mrs Lam unveiled a raft of measures to enhance Hong Kong’s trade agreement Above: Mrs Lam delivers her 2017 Policy Address at the Legislative competitiveness including halving profits tax to 8.25% for the first Page 6 Council in October. Continued on page 2 NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE

Continued from p1, Hong Kong Chief Executive visits UK HKTDC, Mrs Lam said that Asia would in Hong Kong next March. The symposium luncheon with MPs hosted by the All Party continue to drive global economic growth brought together over 1,000 people from Parliamentary China Group at the House and invited British enterprises to partner politics and business. of Commons. While in London, Mrs Lam with Hong Kong to explore new business met Hong Kong students who were opportunities in the region. “As Asia Stronger bilateral trade studying there under the Hong Kong continues to drive the global economy’s While in London, Mrs Lam also met Scholarship for Excellence Scheme and growth we welcome British companies Damian Green, then UK First Secretary of visited an exhibition at the Victoria and interested in exploring new business State, and , UK Secretary of State Albert Museum as part of the London opportunities in the East to partner with for International Trade. Mrs Lam said she Design Festival. She also called on Hong Kong in their search for success,” welcomed moves to strengthen trade Liu Xiaoming, Ambassador of the she said. between the two places and looked People’s Republic of China to the UK, Mrs Lam also pointed out the strong ties forward to closer collaboration with the UK to thank the embassy for its continuing between Hong Kong and the UK in the in areas such as creative industries and support. Before leaving London, Mrs Lam fields of education, design, and culture, technology. Mrs Lam also exchanged met with Hong Kong people living in the noting that the UK Government was set to views on topics including housing, urban UK to learn about their everyday lives. launch the GREAT Festival of Innovations planning and smart city initiatives at a

Right: Mrs Lam (right) visits an Continued from p1 ‘Hope and Happiness’ exhibition at the Victoria and Albert Museum in London, with , HK$2 million of profits, and major tax incentives to encourage Secretary for Commerce and Economic investment in research and development. HK$2 billion would Development (second right). be invested in local tech startups, she said, matched by venture capital funds, and HK$700 million would be earmarked for the Smart City initiatives including ‘smart lampposts’, which can monitor traffic and air pollution. The Government will create 23,000 square metres of new exhibition and convention space by demolishing three government towers in Wan Chai, she announced, so that the Hong Kong Convention and Exhibition Centre can expand. In addition, a new convention centre will be built above the MTR Exhibition Station. A number of commercial sites will be put up for sale to increase the supply of land, she added, Above: Liu Xiaoming, Ambassador of Above: Mrs Lam speaks at the including at the Kai Tak Development Area, above the terminus the People’s Republic of China to the annual dinner of the Hong Kong of the Guangzhou-Shenzhen-Hong Kong Express Rail Link , with Mrs Lam. Trade Development Council. and at the new harbourfront in Central. She also promised to diversify Hong Kong’s tourism sector by Right: Students studying promoting cultural, heritage, green and creative tourism. HK$1 under the Hong Kong billion was earmarked to develop design and creative industries. Scholarship for Excellence Scheme in London meet Mrs Lam. Belt and Road agreement Mrs Lam said her Government would capitalise on the opportunities presented by China’s Belt and Road Initiative, with a comprehensive agreement on Hong Kong’s involvement Below: Damian Green (first right), in this global initiative now agreed with China (see page seven). then UK and Mrs Lam also emphasised the need to diversify Hong Kong Minister for the Cabinet Office, meets Mrs Lam along with Liam Fox industries and will personally chair a steering committee on (second right), UK Secretary of innovation and technology to ensure collaboration across all State for International Trade. government departments.

“Hope and happiness” Above: Mrs Lam (third right) meets Subsidies of around HK$3 billion will be available to help Richard Graham MP (fourth left), residents maintain their buildings and make Hong Kong a better Chair of the All Party Parliamentary place to live, she announced. She also said her Government China Group, and other guests. would set up a Countryside Conservation Office to co-ordinate conservation projects and promote the sustainable development of remote countryside areas. “My vision is for a Hong Kong of hope and happiness,” said Mrs Lam. “I see a vibrant international metropolis that is just, civilised, safe, affluent, enjoys the rule of law, compassionate and well-governed. As long as we can connect and achieve consensus, and capitalise on our strengths, the future of Hong Kong is bright.”

Above: Mrs Lam (second left) with (left) The complete Policy Address can be found at Above: Leaders in the fields of Edward Yau, Secretary for Commerce and art and design meet Mrs Lam Economic Development and (second right) www.policyaddress.gov.hk/2017/eng/index.html to discuss links between the Professor Frederick Ma, Chairman of MTR UK and Hong Kong. Corporation, at the learning and development centre of MTR Crossrail in London. 2 HONG KONG REVIEW NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE • • • NEWS UPDATE

Transp or t Culture Creative collaborations Maritime services boost The Royal College of Art, British Film Institute, Central Saint Martins College of Art and Design, and the London College of Fashion, were , Secretary for Transport four of the London institutions visited by Edward Yau, Secretary for and Housing, visited London in Commerce and Economic Development, during his visit in September September to promote Hong Kong to strengthen creative collaborations. as an international maritime centre. Speaking to representatives from various creative sectors, Speaking at a seminar during Mr Yau highlighted the close links between Hong Kong and the London International Shipping Week, UK and said that creative industries were a strong driving force Mr Chan said that the Belt and Road for the future economic development of Hong Kong. Mr Yau also Initiative (see box below) opened up visited the Zaha Hadid Design Gallery, Heatherwick Studio and new horizons, “connecting each and the Design Museum to discuss, among other things, vocational every economy and their people all Above: Mr Chan outlines opportunities under the Belt training initiatives for creative professionals in the UK. the way from the East through the and Road Initiative at a seminar Middle East to the West.” He urged organised by Maritime London. Below: Mr Yau (second right) pictured shipping companies to take with Professor Naren Barfield (third right), advantages of Hong Kong’s strategic location and maritime Pro-Rector of the Royal College of Art, services to grow their businesses in the region. accompanied by Eliza Lee (third left) Permanent Secretary for Commerce and While in London, Mr Chan signed a Memorandum of Economic Development (Communications Understanding with Maritime London, a not-for-profit body, and Creative Industries), during this visit to work together to promote the maritime industry in both there in September. places. He also met with John Hayes, then UK Minister of State at the Department for Transport, to explore opportunities to enhance co-operation between Hong Kong and London. Above: Visiting Central Saint Martins College of Art and Hong Kong has over 800 maritime companies providing Design of the University of the services from ship management, ship finance and marine Arts London, Mr Yau (second left) is briefed by Jeremy Till (fourth insurance to maritime legal and arbitration services. left), Head of College and Pro-Vice Chancellor.

Finance Design Fintech flourishing Swedish royalty visits Hong Kong James Lau, Secretary for Financial Services and the Treasury, visited London in September to learn more about the latest Prince Carl Philip of Sweden visited Hong Kong in December to developments in financial technologies (fintech) and promote launch the first edition of #SwedenTalks_HK, a platform for Hong Kong as a fintech hub. Speaking at a roundtable exchanges between Hong Kong and Sweden in areas including discussion on blockchain, the Belt and Road Initiative and innovation, creativity, design, trade finance, Mr Lau said that fintech could improve, culture and social values. streamline and facilitate trade. Carrie Lam, Chief Executive, At a dinner organised by Cyberport, the Hong Kong digital welcomed Prince Carl Philip community, Mr Lau pointed out that Hong Kong was a place and expressed her gratitude to where fintech start-ups flourished and where companies and Sweden for their cooperation investors could tap into fintech opportunities in the Asia Pacific over the years in the fields of region. While in London, Mr Lau also visited Accenture FinTech design and creativity, including Innovation Lab London and met with key players in the fintech their support for the Business Above: Prince Carl Philip sector. He also witnessed the signing of the Hong Kong-UK of Design Week, a flagship of Sweden pictured with Mrs Lam Fintech Bridge Agreement between the two governments design event in Asia. at Government House. (see page 7). Mr Lau was in London to join the Hong Kong FinTech Mission to London 2017 co-organised by Cyberport and the What is Belt and Road? Hong Kong Monetary Authority. The Belt and Road Initiative refers to the Silk Road Economic Belt and 21st Century Maritime Silk Road, a significant development strategy launched by President Xi Jinping of China in 2013. Commonly called the Belt and Road Initiative, its aim is to promote economic, political and cultural co- operation in over 60 economies of the proposed Belt and Road network, which stretches across Asia, Africa and Europe, and together encompass around 65 per cent of the world’s population. Historically, the Silk Road was an ancient network of trade routes from China to the Mediterranean and Northern Above: Mr Lau delivers a Above: Mr Lau (fifth left) discusses opportunities Europe, dating back well over a thousand years, which were speech at a dinner in London brought about by the Belt and Road Initiative with vital for trade and cultural interaction. organised by Cyperport. leading fintech start-ups in London.

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20th anniversary celebrations A ten-month programme of events to mark the 20th anniversary of the establishment of the Hong Kong Special Administrative Region was concluded in November. The events were organised by the Hong Kong Economic and Trade Office (HKETO), London. A big thank you to all our partners for making the celebrations such a success.

Creative Visions: Western and Chinese Hong Kong Cinema music come together 1997–2017 Right: Hong Kong musicians performed a special programme of jazz, Western classical Below: Special screenings in London, and traditional Chinese music in London’s Moscow and Manchester, organised by Bishopsgate Institute in November. the Hong Kong International Film Festival Resounding Bauhinia was Society (HKIFFS) with local partners and curated by award-winning sponsored by Create Hong Kong, Hong Kong-born composer, celebrated the achievements of the Hong jazz pianist and conductor Kong film industry over the past 20 years. Raymond Yiu to showcase “Our film industry has a global Hong Kong’s unique ‘East reputation,” said Priscilla To, Director- meets West’ culture. Mrs To General, HKETO, speaking in Manchester. (fourth left) is pictured with “Not only do we have one of the largest Mr Yiu (first left) and musicians. and most dynamic film entertainment industries in the world, many Hong Kong directors, actors, cinematographers and producers have already become household names.” Manchester and Birmingham business events Below: Priscilla To (centre), Director-General, HKETO, pictured with David Marsden (left), Director, UK, Benelux & Ireland, Hong Kong Trade and Development Council, and Andrew Davis, Head, Investment Promotion, Invest Hong Kong, at Manchester Airport’s Concorde Hangar. Addressing the “Take off 2017” Above: The Creative Visions: Hong Kong Cinema 1997-2017 film business conference in Manchester in November, festival in London opened with the organised by the UK Department for International Trade, European première of Wilson Yip’s Ms To highlighted Hong Kong’s achievements over the Paradox. The film’s leading actor Gordon Lam (centre) is pictured past 20 years and its vibrant innovation and technology Above: Film director Herman Yau (right) answers with Mrs To (fourth left) and scene. She also addressed a business luncheon in audience questions after a screening of his film Roger Garcia (fourth right), Birmingham, co-organised by HKETO, at which she The Sleep Curse at HOME in Manchester. Executive Director of the HKIFFS. stressed Hong Kong’s role in China’s Belt and Road Initiative (see page three).

Left: Hong Kong film producer Subi Liang (first left) and director Pang Ho-cheung (second right) pictured before a screening of their film Love Off the Cuff in Moscow. The screening was part of the Creative Visions: Hong Kong Cinema 1997-2017 film festival at Moscow’s Gorizont Cinema.

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• • • 20TH ANNIVERSARY CELEBRATIONS • • • 20TH ANNIVERSARY CELEBRATIONS • • • 20TH ANNIVERSARY CELEBRATIONS • • •

Left: Milk tea master Mok Pui-ling (left) demonstrates how Lord Mayor’s to make this popular Hong Kong drink. show 2017 Over half a million people took to the streets in November to watch the spectacular Lord Mayor’s Show, which included a stunning Hong Kong float to mark the 20th anniversary Above: The Lord Mayor’s show has of Hong Kong’s return to Mainland China. a global TV audience of millions. Sponsored by HKETO, the float featured Hong Kong musicians playing medleys of well-known Cantopop songs, alongside specially designed flags, a spectacular dragon dance and a troupe of Chinese-style dancers. “We have been organising and supporting many events to mark Hong Kong’s special anniversary but this is definitely the biggest,” said Priscilla To, Director-General, HKETO. Above: Children show off their paper lanterns made “We are truly honoured to see the enjoyment Above: The Hong Kong float travels along at a workshop run by paper craft master Kenneth Mo. and affection people hold towards Hong Kong.” the Embankment by the River Thames. The annual spectacular celebrates the HKETO has been taking part in the Lord Mayor’s swearing-in of the new Lord Mayor of London. Show since 2005. Intangible Cultural Heritage Festival Above: A ten day exhibition and a series of workshops held at London’s China Exchange in November marked the finale of the Intangible Cultural Heritage Festival – promoting Hong Kong’s traditional folk culture including performing arts, social practices, rituals, festivals, food and traditional crafts. The exhibition was organised by Ming Ai (London) Institute and Above left and right: The 2017 Hong Kong supported by HKETO. float featured musicians, flags, dancers and a dragon dance. Business and cultural promotion in Sweden Right top and bottom: A business reception was held in the Swedish History Museum in Stockholm in October attended by over 150 people from business, government, academia and diplomatic circles. Guests included Torborg Chetkovich (fourth right), Vice-Chairman of the Hong Kong Chamber of Commerce in Sweden, and Congyou Gui (fifth right), Chinese Ambassador to Sweden. The Hong Kong String Orchestra, led by the orchestra’s founder and artistic director East Asia film Jue Yao, was invited to stage a A café in London, designed in the style of a performance at the reception to traditional Hong Kong café, was the venue showcase Hong Kong’s musical for a reception hosted by HKETO to mark the talent. Sponsored by the screening of Andrew Lau and ’s HKETO, the String Orchestra Infernal Affairs at the London East Asia Film also took part in a concert Festival 2017 (LEAFF). A total of four films at the Uusi Paviljonki were screened in a special Hong Kong 20th in Kauniainen, Finland Anniversary festival strand titled ‘Hong Kong: in October, which Now and Then’ to promote the vibrant film celebrated the industry of Hong Kong. Ann Hui’s Our Time 20th anniversary of the Will Come was also screened at the Stockholm Hong Kong Special International Film Festival in November and at Administrative Region as the BFI London Film Festival in October, which well as the centenary of also showed Christopher Doyle’s The White Girl. Finland’s independence.

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Trade Trade World Trade Hong Kong and ASEAN sign Organisation free trade agreement appointment Edward Yau, Secretary for Commerce Hong Kong and the Association of and Economic Development, served Southeast Asian Nations (ASEAN) as Vice Chair of the 11th World Trade have signed a free trade agreement Organisation Ministerial Conference covering goods and services, held in Buenos Aires, Argentina, in investment, and economic and December. Hong Kong is a separate and technical co-operation. independent member of the World Trade The agreement will strengthen Organisation and supports free and open trade and investment between trade, said Mr Yau. Chairing a session on Hong Kong and ASEAN and enhance Micro, Small and Medium-sized business opportunities for Hong Kong Enterprises, he urged WTO members enterprises, said Edward Yau, to make greater efforts so that smaller Secretary for Commerce and enterprises share in the benefits of trade. Economic Development, speaking at Above: Mr Yau and Ramon Lopez, Secretary of His appointment reinforces Hong Kong’s Trade and Industry of the Philippines, sign a free the signing ceremony in the Philippines trade agreement in November between Hong role as an advocate for rules-based, in November. A related Investment Kong and the ten ASEAN nations. non-discriminatory trade. Agreement was also signed. Left: Mr Yau ASEAN, which includes Indonesia, services. The agreements will strengthen (centre) chairs a meeting during Malaysia, the Philippines, Singapore, Hong Kong’s status as “the most open the 11th Thailand, Brunei, Cambodia, Laos, and business-friendly international city World Trade Myanmar and Vietnam, is Hong Kong’s in the region,” said Mr Yau. The two Organisation Ministerial second largest trading partner in agreements will come into force by Conference in merchandise and the fourth largest in January 2019 at the earliest. November.

Economy

to do business, published in October. Hong Kong “world’s freest economy” The report compares the ease of doing business in 190 economies using Hong Kong has been named the world’s measures such as ease of starting a freest economy by the Fraser Institute business and paying taxes, with Hong in its latest report on global economic Kong ranked fifth overall. freedom. The Canadian organisation annually assesses economies for their Strong financial buffers ‘regulation’ and ‘freedom to trade An International Monetary Fund (IMF) internationally’, for example, rating assessment has concluded that Hong Hong Kong first for the former and Kong is well placed to navigate future second for the latter, and first overall. financial challenges. The verdict is based Hong Kong also ranks highly in the on Hong Kong’s strong financial buffers, World Bank’s list of the easiest places robust policy frameworks and the Linked Exchange Rate System, which stabilises Economy the exchange rate between the Hong Kong and US dollars. Welcoming the IMF’s Asia to drive global growth reassuring forecast in November, Financial Asia will continue to be the engine “The world economy, at least in terms Secretary Paul Chan said he was confident of global economic growth for the of GDP, is shifting east and south at an that Hong Kong’s economic growth would foreseeable future, said Carrie Lam, extraordinary speed,” she said, noting continue to gather momentum. The IMF Chief Executive, speaking at a that increasing economic integration noted that Hong Kong’s gross domestic conference in November organised with Mainland China will continue to product was projected to grow by 3.5 per in Hong Kong by Asia House to mark bring new opportunities for Hong Kong. cent in 2017. the 20th anniversary of the Hong Kong Major infrastructure developments, Hong Kong is now home to over 8,200 Special Administrative Region. including the Hong Kong-Zhuhai-Macao businesses whose parent companies are Bridge (which will cut the journey time overseas or in Mainland China, said Left: Mrs Lam between the Hong Kong International Edward Yau, Secretary for Commerce and delivers her keynote speech Airport and Macao to 45 minutes), Economic Development, speaking at a at the Asia House would underline Hong Kong’s status as reception in December hosted by conference in InvestHK, a government department that Hong Kong in “the region’s trade, business and November. logistics hub,” she said. helps overseas companies to set up and expand in Hong Kong.

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Trade Transp or t Hong Kong signs Belt and Rail link immigration agreement Road agreement with China The Hong Kong and Chinese governments have signed an agreement to deepen Hong Kong’s participation in the Belt and Road Initiative (see page three). The new agreement, signed in December, focuses on Hong Kong’s role in advancing the Belt and Road Initiative through, for example, finance and investment, infrastructure and maritime services, project management, and the Guangdong-Hong Kong-Macao Bay Area development. Hong Kong and Mainland China have reached agreement on In addition, a Joint Conference mechanism will be set arrangements for border checks once the Guangzhou-Shenzhen- up between the Hong Kong Government, the National Hong Kong Express Rail Link (XRL) opens later in 2018. Development and Reform Commission (NDRC), the Hong Under a so-called ‘co-location arrangement’ both places will Kong and Macao Affairs Office of the State Council and other exercise entry and exit regulation at Hong Kong’s West Kowloon relevant Mainland authorities for regular and direct Station. This means passengers entering or leaving Hong Kong communication. The Joint Conference will discuss matters will have all immigration checks done in one place. “Time-saving relating to Hong Kong’s participation in and contribution to clearance procedures are absolutely essential to realising the full the Belt and Road Initiative and consider specific work potential of the XRL in terms of speed and convenience,” said priorities. Mrs Lam said: “Grounded on Hong Kong’s strengths Carrie Lam, Chief Executive. in finance, infrastructure, economic and trade, professional Hong Kong checks will take place at a Hong Kong Port Area services and more, the Arrangement seeks to enhance set up in West Kowloon Station by the Hong Kong government. communication and co-operation with the Mainland in the Mainland checks will take place at the separate Mainland Port ‘five areas of connectivity’, i.e. policy co-ordination, facilities Area within the same station, to be established by the Mainland connectivity, unimpeded trade, financial integration and Government. Rules on immigration, customs and quarantine will people-to-people bond ... The Commerce and Economic be enforced in the separate areas according to each place’s Development Bureau will follow respective laws. Mainland officials will, however, have no law up with the NDRC on the enforcement powers outside the Mainland Port Area. establishment of the Joint Above: Mrs Lam (front row, centre) at the signing of the agreement between Hong Conference mechanism. We Kong and China on immigration arrangements for the new Guangzhou-Shenzhen- intend to convene the meeting Hong Kong Express Rail Link. at the earliest opportunity to take forward the various areas of work in the Arrangement.” Finance What is the Belt and Road Initiative? See box on page 3. UK-Hong Kong fintech collaboration Above right: Mrs Lam (left) signs an agreement with China to advance Hong The Hong Kong and UK governments have signed an agreement Kong’s involvement in the Belt and Road Initiative. Pictured with He Lifeng, jointly to promote financial innovation. The Hong Kong-UK FinTech Chairman of China’s National Development and Reform Commission. Bridge Agreement covers government-to-government, regulator-to- regulator and industry-to-industry links and will enable fintech Finance firms in each place to use the facilities and assistance available to companies in the other. “We hope to see Hong Kong’s home-grown fintech firms grow Hong Kong is Asian fintech leader and expand their business to the UK,” said James Lau, Secretary Fintech Week in Hong for Financial Services and the Treasury, speaking at the Hong Kong, which took place Kong Fintech Awards Ceremony 2017 organised by the UK in October, attracted Department for International Trade in November. “We also over 4,000 people welcome UK fintech firms to establish a presence in Hong Kong.” including entrepreneurs, The Hong Kong Fintech Awards give Hong Kong start-ups a regulators, venture chance to access the UK market. A reciprocal progamme run by capitalists and service InvestHK programme will identify UK fintech firms interested in providers from more exploring business opportunities in Hong Kong. than 50 countries. Over 300 speakers addressed packed events on topics from Infrastructure finance boost. Vincent Lee (left), blockchain and artificial intelligence to insurance technologies Executive Director (External) of the Hong Kong Monetary Authority (HKMA), and Sherry and cyber security. “Participants came from all around the world, Madera, Special Adviser for Asia of the City of clearly demonstrating Hong Kong’s potential to develop into a London, pictured at the Hong Kong-London global fintech hub,” said Paul Chan, Financial Secretary. In Financial Services Forum in December. 2016, 138 fintech companies started up in Hong Kong, an During the forum it was announced that the is now a partner of HKMA’s increase of 60 per cent on the year before. Infrastructure Financing Facilitation Office. This will enable it to draw on the City’s network Above: Fintech Week, organised by InvestHK, was the first of a series of fintech of financial institutions to further strengthen activities running over three weeks in Hong Kong, involving regulators, entrepre- the global dimension of its work promoting neurs, investors, start-ups, academics and service providers from Hong Kong and infrastructure financing and investment. around the world.

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Science Young science medallists A team of six Hong Kong students achieved Finland Hong Kong cultural excellent results in the International Junior dialogue. A temporary exhibition space in Hong Kong Cultural Centre Science Olympiad 2017 held in the Piazza, created by two young Netherlands in December, winning three architects, explored the relationship gold and three silver medals. Above: Hong Kong medallists at the International between the cultures of Hong Kong Forty eight countries participated in the Junior Science Olympiad in November. and Finland. Hot is Cool: Cultural competition for secondary school students Education Kevin Yeung said: “We will Dialogue Between Finland and Hong Kong created a space for which saw contestants asked to complete continue to support learning activities related design exhibitions, cultural salons, written assessments and carry out biology, to science, technology and mathematics so creative workshops, and reading chemistry and physics experiments. that more students can become the new and music performances, plus a Congratulating the team on their generation of leaders in the development of Finnish sauna experience. outstanding performance, Secretary for science and innovation in Hong Kong.”

Culture Sport FORTHCOMING EVENTS Thursday, 1 February 2018 Chinese New Year Reception Chinese art in London Volvo Ocean Race in Helsinki, Finland

The Art Museum Hong Kong is a host city for the Volvo Ocean Race, Tuesday, 6 February 2018 of the Chinese one of the sailing world’s most gruelling challenges Chinese New Year Reception University of Hong which takes teams 45,000 nautical miles around in Stockholm, Sweden Kong exhibited the world, across four oceans, touching six Thursday, 8 February 2018 some of its best continents and 12 landmark host cities. Chinese New Year Reception collections at Asia The Hong Kong Stopover from January 17 in Copenhagen, Denmark House in October to 31 will feature plenty of events including a Monday, 12 February 2018 and November as Race Village and Race Festival on the shoreline Business Seminar and Chinese part of ‘Asian Art in of Victoria Harbour with Hong Kong’s iconic New Year Reception in Oslo, London’, which cityscape providing a dazzling backdrop. Norway showcased Hong Hong Kong is represented in the race by Sunday, 18 February 2018 Kong’s unique role Team Sun Hung Kai/Scallywag, helmed by Chinese New Year celebration in promoting and veteran Australian skipper David Witt and at Trafalgar Square and researching supported by BrandHK. This is the first time Chinatown in London, UK Chinese art. Hong Kong has been a host city for the event. Wednesday, 21 February 2018 Established in 1971, the Art Museum has Other host cities for the race include Cardiff in Chinese New Year Reception taken an active role in promoting Chinese the UK and Gothenburg in Sweden. More in London, UK culture and heritage and facilitating academic information at www.volvooceanracehk.com. Monday, 26 February 2018 exchange between China and the West. Business Seminar and “This exhibition is a vivid example of the Art Chinese New Year Reception Museum’s international cultural collaboration,” in St Petersburg, Russia said Priscilla To, Director-General of the Hong Tuesday, 27 February 2018 Kong Economic and Trade Office, London, Chinese New Year Reception which supported the event. “As the UK is the in Moscow, Russia world’s leading art and culture hub, I look forward to seeing more collaboration between © Pedro Martinez/Volvo Ocean Race Hong Kong and the UK.” Above: Hong Kong’s Scallywag on its way from Cape Town FOR HONG KONG EVENT to Melbourne. DETAILS:

Lighting up winter. Buildings on both hketolondonuk sides of Hong Kong’s famous harbour were transformed by a spectacular light @HKinLondon show during a month-long Winterfest in @InvestHK_LDN December. Other highlights included a dazzling 18-metre-tall Christmas tree in hketolondon.gov.hk Statue Square and 3D projections on the www façade of the Hong Kong Cultural Centre. investhk.gov.hk

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