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Category: China

  • MIL-OSI Asia-Pac: Welcome remarks by SLW at Hong Kong: A World of Opportunities seminar for Korean talent (English only)

    Source: Hong Kong Government special administrative region

         Following are the welcome video remarks by the Secretary for Labour and Welfare, Mr Chris Sun, at Hong Kong: A World of Opportunities seminar for Korean talent organised by Hong Kong Talent Engage (HKTE) this afternoon (October 29):
     
         Ladies and gentlemen, annyeong-haseyo (hello in Korean).
     
         I am glad to welcome you to the seminar organised by HKTE today. It is great to have students from Korean universities and exchange students currently in Hong Kong with us today.
     
         This seminar is a follow-up on HKTE’s recent duty visit to Korea in August, during which we met with professionals as well as university students and received much positive feedback. Many expressed interest in working in a dynamic environment like Hong Kong to pursue their careers and succeed.
     
         Talent is the prime resource and driving force that boosts economic development and competitiveness. The Hong Kong Special Administrative Region Government is committed to building Hong Kong into an international hub for high-calibre professionals with diverse backgrounds. Thanks to our “one country, two systems” principle, Hong Kong is bestowed with unique advantages of enjoying the strong support of our motherland and being closely connected to the world. We also have a strong foundation for success, with institutional strengths such as a world-class business environment, a simple and low tax system, and a highly open and internationalised market.
     
         All these strengths make Hong Kong an ideal place for talent looking for personal growth and self-enhancement, so that they can bring their innovative ideas to life as well as make a positive change to the world. Many professionals also choose to base themselves in Hong Kong to explore opportunities in Mainland China.
     
         To attract and retain talent worldwide to pursue long-term development here, the Government announced an array of admission measures in late 2022, including the well-received Top Talent Pass Scheme (TTPS), which has garnered significant interest.
     
         As at end-September, the Government received over 380 000 applications under various talent admission schemes, with about 240 000 applications approved. For the TTPS, over 100 000 applications were received with over 81 000 approved, including over 200 degree graduates from renowned universities in Korea.
     
         Settling into a new environment might be challenging; that is why we set up HKTE to provide one-stop comprehensive support services to facilitate incoming talent to come and settle in Hong Kong. Later in this seminar, Anthony, the Director of HKTE, will introduce to you HKTE’s services in more detail.
     
         I sincerely hope you find the information shared today fruitful and that you will consider embarking on your international career journey here in Hong Kong.
     
         Thank you once again for joining us.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Speech by SJ at plenary session of 14th China-ASEAN Prosecutors-General Conference in Singapore (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Justice, Mr Paul Lam, SC, at the plenary session of the 14th China-ASEAN Prosecutors-General Conference in Singapore today (October 29):Mr Chairman, Your Excellencies, distinguished guests, ladies and gentlemen,     To begin with, I would like to express my heartfelt gratitude to Your Excellency Mr Lucien Wong, SC, for organising this year’s conference.Urgent call for co-operation in the fight against financial crimes     The theme of this year’s conference is “Fostering Co-operation on Combating Financial Crimes”. The definition of financial crimes is very wide. In Hong Kong, they cover a broad range of money-related criminal activities including money laundering, terrorists financing, fraud, theft, market misconduct as well as corruption and irregularities in the financial market. There is, however, very often a common element: that is they involve transboundary elements.     In recent years, we have witnessed an alarming rise in financial crimes. The United Nations Office on Drugs and Crime (UNODC) estimated that money laundered globally in one year is 2-5 per cent of global gross domestic product, that is approximately US$800 billion to $2 trillion. Hong Kong, which ranks No. 1 in the 2024 Economic Freedom of the World Report compiled by the Fraser Institute, is not immune to these challenges. According to the latest statistics released by the Hong Kong Police Force, over 19 000 cases of deception were registered in the first half of 2024, accounting for around 44 per cent of the total number of crimes and resulting in the loss of HK$4.48 billion.     There is, therefore, no wonder why there is consensus that international co-operation to combat financial crimes is both essential and imminent. In May this year, the Heads of the Financial Action Task Force (FATF), the UNODC and the International Criminal Police Organization (Interpol) issued an unprecedented joint call for actions to be taken across sectors and at the global level to target the huge illicit profits generated by transnational organised crimes that facilitate conflicts, fund terrorism and negatively impact vulnerable populations.     Hong Kong is committed to engaging in international co-operation to combat financial crimes proactively. This is both required and made possible by the principle of “one country, two systems”. In the Basic Law of the Hong Kong Special Administrative Region, Article 109 gives Hong Kong the mandate to provide an appropriate economic and legal environment for the maintenance of the status of Hong Kong as an international financial centre. Under Articles 96 and 152 of the Basic Law respectively, Hong Kong may make appropriate arrangements with foreign states for reciprocal juridical assistance, and representatives of Hong Kong may participate in international organisations or conferences as members of delegations of the People’s Republic of China or in other appropriate capacity.     Hong Kong has been adopting a four-pronged approach in combating financial crimes with international elements: first, espousing international regulatory standards; second, establishing a collaborative network for effective prosecution and asset recovery; third, embracing technologies as our new tools; and, lastly, encouraging knowledge and experience sharing.Espousing international regulatory standards     Let me begin with espousing international regulatory standards. While different jurisdictions have diverse legal landscapes and different financial systems, it is essential to ensure that the local legal and regulatory frameworks would comply with international standards. I am proud to say that Hong Kong has so far successfully achieved this objective.     Owing to the fact that, in practice, it is very often difficult to identify, catch and bring participants of financial crimes to justice and that the loss and damage caused by such crimes are in many cases untraceable and irrecoverable, the Hong Kong law in this respect focus very much on effective prevention and early detection of suspicious transactions. Our Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (AMLO) sets out the requirements on financial institutions regarding customer due diligence and record keeping; and other legislations impose statutory obligations for reporting suspicious transactions. Earlier this year, the Hong Kong Court of Final Appeal in a landmark judgment known as Tam Sze Leung & Ors v Commissioner of Police (2024) 27 HKCFAR 288 upheld the validity of the “letters of no consent” scheme under the Organized and Serious Crimes Ordinance (Cap. 455), which aims at assisting financial institutions to consider how to deal with, or not to deal with, funds known or suspected to be proceeds of crime.     On the other hand, the Securities and Futures Commission of Hong Kong publishes alert list to provide early warnings to investors on suspicious investment products and virtual asset trading platforms. Very recently in August this year, the Hong Kong Monetary Authority (HKMA), in collaboration with the Hong Kong Police Force and the Hong Kong Association of Banks, extended the coverage of the Suspicious Account Alert to physical branches and Internet banking transactions.     Hong Kong has been a member of the FATF, an intergovernmental organisation which sets global standards for combating money laundering and terrorist financing, since 1991. In the fourth round of FATF mutual evaluation in 2018-19, Hong Kong’s anti-money laundering and counter-financing of terrorism (AML/CFT) system has been assessed to be compliant and effective overall, making it the first jurisdiction in the Asia-Pacific region to have achieved an overall compliant result. The FATF also adopted Hong Kong’s follow-up report and recognised Hong Kong’s efforts in strengthening its AML/CFT regulatory regimes last year.     That said, Hong Kong does not remain complacent. Hong Kong is also one of the founding members of the Asia/Pacific Group on Money Laundering (APG), an autonomous FATF-style regional anti-money laundering body, founded in 1997. The APG published annual reports to assist governments and other stakeholders to have a better understanding about the nature of existing and emerging threats. The 2023 report includes a chapter on threats and trends related to virtual assets and virtual asset service providers. Hong Kong took the initiative to introduce a licensing regime for virtual asset service providers under AMLO, which came into effect in June 2023. To further strengthen the virtual assets regulatory framework in Hong Kong, we consulted the public on a regulatory regime for stablecoins earlier this year and had received overall support.Establishing a collaborative network for effective prosecution and asset recovery     Let me turn to establishing a collaborative network across jurisdictions to enable effective prosecution of financial crimes and asset recovery.     Hong Kong has established a comprehensive co-operation regime for the mutual legal assistance and surrender of fugitives. The Department of Justice of Hong Kong published various practical step-by-step guidelines, such as “Guide to Asset Recovery in the Hong Kong Special Administrative Region” and “Guidelines for Making Applications under the Mutual Legal Assistance in Criminal Matters Ordinance (Cap. 525)”, with a view to assisting our foreign counterparts in understanding the procedures in relation to international legal co-operation in criminal matters in Hong Kong and the wide range of legal assistance that may be provided by Hong Kong, such as taking of oral evidence, obtaining materials under production orders, enforcement of external confiscation orders and restraining of dealing in property which may be subject to external confiscation orders, etc.     Over the years, the Department of Justice has been providing effective and timely assistance to various foreign jurisdictions, including our ASEAN and Asia-Pacific partners. Let me share with you some examples. Recently, pursuant to a request made by an East Asian country, we have successfully obtained from the High Court a restraint order freezing assets in the form of cryptocurrencies of a total value of more than US$20 million, which are suspected to be proceeds of a massive fraudulent scheme. In another case regarding a request received from Indonesia, we have restrained over US$8 million worth of assets, representing proceeds of offences of fraud and money laundering, with a view to repatriating the confiscated funds back to the victim of crimes in Indonesia eventually. Singapore is one of our most valued and top legal co-operation partners. Thanks to the tireless effort of the Attorney General’s Chambers of Singapore, a fugitive was successfully surrendered back to Hong Kong earlier this month to face justice in court for offences relating to a securities fraud. In another case involving offences of money laundering and corruption, Hong Kong is working very closely with Singapore in our collaboration to repatriate US$13 million of proceeds of crime back to the victim in Mainland China. In yet another example, with the joint effort of Interpol and following extensive information sharing and joint investigations by the police from Singapore and Hong Kong, a transnational syndicate allegedly involved in laundering ill-gotten gains derived from tech support scams, including around HK$33 million from the victims in Singapore, has recently been crippled in August this year, resulting in the arrest of eight persons in Singapore and Hong Kong.     Another significant development in 2024 is that, on June 26, 2024, Hong Kong has officially joined the South East Asia Justice Network (SEAJust), which was established in 2020 with the support of the UNODC. This enables Hong Kong to make use of this important platform to facilitate co-operation in criminal matters with other members, including all my friends here today.     I feel obliged to take this opportunity to register my disappointment that, due to geopolitical reasons, some Western countries have unilaterally suspended their mutual legal co-operation arrangements with Hong Kong, which is plainly against common interests. Geopolitical considerations should not be allowed to hinder international co-operation in fighting financial crimes.Embracing technologies as our new arsenal of tools     Let me move on to embracing technologies as our tools. In this digital age, technology is evolving at an unprecedented pace. It is unfortunate that it has been misused to enable financial crimes to transcend borders and get “bigger” in terms of quantity and complexity, and allow the culprits to hide their identities in the virtual world.     To counter such misuse, we should consider how to deploy technological advancements as our ally. In particular, we should proactively explore the possibilities of leveraging powerful artificial intelligence (AI) tools for detecting and disrupting financial crimes at an early stage. For example, AI-powered systems may facilitate real-time online transaction monitoring and individual behavioural analysis, and alert unusual transaction patterns with speed and accuracy that human beings cannot duplicate. AI-assisted automation may also play a pivotal role in enhancing the efficiency of investigations. AI technology is able to analyse vast amounts of data at lightning speed. Automating some repetitive but essential tasks throughout the investigation process enables investigation officers to dedicate their time and energy to developing strategies in higher-impact cases.     On September 9, 2024, with a view to accelerating the use of AI in monitoring money laundering and terrorist financing risks, the Hong Kong Monetary Authority published a circular on “Use of Artificial Intelligence for Monitoring Suspicious Activities”. The HKMA observed that AI-powered systems take into account a broad range of contextual information focusing not only on individual transactions, but also the active risk profile and past transaction patterns of customers in determining whether the activity of a customer should be flagged for further investigation. These enhanced systems have proved to be more effective and efficient than conventional rules-based transaction monitoring systems.Encouraging knowledge and experience sharing     Lastly, let me say a few words on encouraging knowledge and experience sharing.     Last month, a dedicated team of prosecutors who specialise in prosecuting sophisticated and syndicated high-tech crimes in the Prosecutions Division of the Department of Justice of Hong Kong paid a visit to Guangdong Provincial People’s Procuratorate, the High People’s Court of Guangdong Province and Guangzhou Internet Court. The sharing sessions with Mainland judges and procurators were greatly beneficial to deepening the mutual understanding of the latest trends of deception cases and the handling of cryptocurrency cases.     And, of course, international symposiums and conferences provide an excellent forum for free flow of ideas, which assist in gathering and accumulating a general pool of knowledge, and stimulating new and innovative ideas to combat financial crimes. This successful conference is, by itself, a perfect example.     In this aspect, I am very pleased to inform you that, next month between November 27 and 29, Hong Kong will organise the 11th Asia and Pacific Regional Conference of the International Association of Prosecutors (IAP) under the theme of “Effective Prosecution Service in the Technological Age”. I look forward to welcoming you to Hong Kong.     Lastly, I am also very pleased to inform you that the Department of Justice of Hong Kong will formally establish the Hong Kong International Legal Talents Training Academy very soon. The Academy will organise practical training courses, seminars, and international exchange programmes to promote exchanges among legal professionals coming from different jurisdictions. This may serve as an additional platform for capacity building and experience sharing in the area of international co-operation on combating financial crimes.Concluding remarks     To conclude, while the challenges we face in our fight against financial crimes are daunting and are likely to be ongoing, they are ones that we can and must overcome – together. In this war that we cannot afford losing, let us remain steadfast to our commitment to align with international regulatory standards, work closely via various collaborative networks, make better use of emerging technologies, and share knowledge and experience. In co-operation lies our strength, and in action lies the promise of a secure financial environment where trust and integrity flourish.     On this note, may I once again thank the Attorney-General’s Chambers of Singapore for giving me and other members of the Hong Kong delegation such a fruitful experience at this successful conference, and to all the distinguished speakers and friends from the Mainland and ASEAN countries for their sharing of valuable insights and experiences. Thank you very much.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Public urged to lead active and healthy lifestyle in support of World Stroke Day

    Source: Hong Kong Government special administrative region

    Public urged to lead active and healthy lifestyle in support of World Stroke Day
    Public urged to lead active and healthy lifestyle in support of World Stroke Day
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         ​In support of World Stroke Day, the Department of Health (DH) today (October 29) appealed to members of the public to lead an active and healthy lifestyle to guard against stroke.           World Stroke Day has been designated on October 29 each year by the World Stroke Organization to increase awareness and drive actions on strokes around the world.           A spokesman for the DH said that stroke is one of the major causes of ill health, long-term disability and death. Every year, strokes attack over 12 million people worldwide. In Hong Kong, stroke is the fourth commonest cause of death with 3 048* registered deaths in 2023.           A stroke happens when the blood supply to part of the brain is interrupted, or when the blood vessel of the brain ruptures leading to a haemorrhage. High blood pressure (HT) is the largest single risk for stroke, followed by a high body mass index and high blood glucose.           “Physical activity can modify these common biomedical risk factors of stroke. Epidemiological studies support a beneficial effect of engaging in a sufficient amount of physical activities on stroke risk, whether it is simply walking at a faster pace, bicycling or leisure pursuits,” the spokesman added.           Stroke risk can be reduced by adhering to an active and healthy lifestyle. Members of the public are advised to engage in at least 150 to 300 minutes of moderate-intensity aerobic physical activity or an equivalent amount and intensity of physical activity throughout the week, and limit the amount of time spent being sedentary and replace sedentary time with physical activity of any intensity including a light-intensity physical activity. To further reduce the risk of having a stroke, members of the public should also maintain an optimal body weight and waist circumference, reduce salt intake and eat a balanced diet, avoid smoking and refrain from alcohol drinking to guard against stroke.           With an aim to advocate members of the public to increase their physical activities, the DH launched the “10,000 Steps a Day” Campaign in 2022 to encourage adults to gradually increase their daily step goal to 10 000 based on their own physical conditions, abilities, pace and individual circumstances. The campaign has entered its third phase this year, and this year’s event coincides with the 75th anniversary of the founding of the People’s Republic of China. The Health Bureau and the DH will for the first time partner with Greater Bay Area (GBA) Mainland cities to jointly promote walking to mark the celebration. In Hong Kong, a walking challenge with the slogan of “Shall We Walk and Talk” will be held through the “e+Life Platform” on November 1 to inspire the public to walk with friends. Participants can use a step-counting mobile application to record their step counts during the challenge period and synchronise the data with the “e+Life Platform”. For details, please visit the event website of the Walking Challenge (www.10000stepsaday.hk/?lang=en) and the thematic website of “e+Life Platform” (app.ehealth.gov.hk/elife-overview).            The Primary Care Commission has established the District Health Centre (DHC)/DHC Express across 18 districts and has been proactively promoting the Life Course Preventive Care Plan. The DHC healthcare team would work hand in hand with Family Doctors to help clients to develop customised healthy living plans (including smoking cessation, balance diet, regular physical activity and weight management) based on individuals’ health needs at different stages of life, enhancing the public’s capability to take care of their own health and prevent strokes.              Apart from active and healthy living, early diagnosis and proper management of hypertension and diabetes is another key to lowering the risk of stroke. The Government launched the Chronic Disease Co-Care Pilot Scheme (CDCC Pilot Scheme) in November 2023, to subsidise Hong Kong residents aged 45 or above with no known medical history of HT or diabetes (DM) to undergo HT and DM screening services in the private healthcare sector. They can then receive long-term follow-up care in the community provided by Family Doctors, DHC /DHC Express, and other healthcare services. For more details, members of the public may browse the dedicated website of the CDCC Pilot Scheme (www.primaryhealthcare.gov.hk/cdcc/en).           In addition to promoting stroke prevention measures, the Government is committed to enhancing services for stroke treatment. The Chief Executive announced in this year’s Policy Address that the Hospital Authority would set up the first stroke centre in accordance with the national accreditation standards at a public hospital of Hong Kong. Through cross-specialty and patient-centred integrated neuromedicine services, it aims to enhance the efficiency of diagnosing acute strokes, expedite treatment and improve patient care, thereby lowering mortality rates, hospital bed days and readmission rates as well as improving post-stroke rehabilitation.           The Government will continue to step up efforts in enhancing public awareness about the importance of active and healthy living in the area of stroke prevention and working in close partnership with community partners to build a health-enhancing environment. For details, please visit the thematic website at www.change4health.gov.hk/en/index.html. *Provisional figure

     
    Ends/Tuesday, October 29, 2024Issued at HKT 15:15

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MOFA thanks countries that have publicly expressed concern over Taiwan Strait situation and stressed importance of cross-strait peace and stability in concerted effort to safeguard rules-based international order

    Source: Republic of China Taiwan 3

    MOFA thanks countries that have publicly expressed concern over Taiwan Strait situation and stressed importance of cross-strait peace and stability in concerted effort to safeguard rules-based international order

    Date：2024-10-19
    Data Source：Department of Policy Planning

    October 19, 2024  
    No. 359  

    The Ministry of Foreign Affairs (MOFA) sincerely appreciates that the administrations and friendly members of parliament of more than 30 countries, as well as the European Union, have publicly expressed concern over the cross-strait situation or stressed the importance of maintaining peace and stability after China once again recently launched military drills to intimidate Taiwan. Countries including Taiwan’s diplomatic allies, the United States, Japan, the United Kingdom, France, Germany, Australia, New Zealand, Lithuania, and the Republic of Korea variously urged China to exercise restraint and stated that differences should be resolved through dialogue and not the threat of force or coercion. 
     
    The maintenance of peace and stability across the Taiwan Strait is in the common interests of both sides of the strait and the international community. There is a high degree of consensus within global society over the importance of preserving peace and stability across the Taiwan Strait and throughout the Indo-Pacific. MOFA once again calls on China to face up to the reality of the existence of the Republic of China (Taiwan) and to respect the Taiwanese people’s choice of a free and democratic way of life, willingness to engage in international cooperation alongside China, and goodwill toward maintaining regional security and pursuing peace and shared prosperity. It urges China to stop using use military provocation or other means to threaten and suppress Taiwan and disrupt the regional status quo. Only this can facilitate the positive development of cross-strait relations and satisfy the expectations of the international community.
     
    MOFA calls on all nations to continue to voice concern over the cross-strait situation and support Taiwan. Taiwan will further work with its diplomatic allies and like-minded partners to safeguard the rules-based international order and jointly advance regional peace, stability, and prosperity. (E)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MOFA welcomes European Parliament resolution on PRC’s misinterpretation of UNGA Resolution 2758 and continuous military provocations against Taiwan

    Source: Republic of China Taiwan 3

    MOFA welcomes European Parliament resolution on PRC’s misinterpretation of UNGA Resolution 2758 and continuous military provocations against Taiwan

    Date：2024-10-25
    Data Source：Department of European Affairs

    October 25, 2024No. 365The European Parliament (EP) on October 24 adopted a resolution concerning the misinterpretation of United Nations General Assembly (UNGA) Resolution 2758 by the People’s Republic of China and its continuous military provocations around Taiwan by an overwhelming majority of 432 votes in favor and 60 against. The EP resolution strongly opposes the PRC distorting UNGA Resolution 2758 to block Taiwan’s international participation and calls on the European Union and its member states to support Taiwan’s meaningful participation in relevant international organizations. The Ministry of Foreign Affairs (MOFA) strongly affirms and sincerely appreciates this support. The EP resolution points out that UNGA Resolution 2758 addresses the status of the PRC but does not determine that the PRC enjoys sovereignty over Taiwan, nor does it make any judgement on the future inclusion of Taiwan in the UN or any other international organization. It also states that Taiwan has never been part of the PRC. Stressing that UNGA Resolution 2758 takes no position on Taiwan, the EP resolution strongly rejects and refutes the PRC’s attempts to distort history and international rules and thereby block Taiwan’s meaningful participation in international organizations. It also strongly condemns the PRC’s continued military provocations and gray-zone activities against Taiwan and reiterates the EU’s firm rejection of any unilateral change to the status quo in the Taiwan Strait.Pointing out that Taiwan is a key, like-minded partner of the EU in the Indo-Pacific, the EP resolution calls for the EU and its member states to further deepen cooperation and exchanges with Taiwan in such domains as the economy, investment, semiconductor and high-tech industrial supply chains, disaster management, civil protection, and countering disinformation and foreign interference. It also advocates continued support for Taiwan’s meaningful participation in the World Health Organization, the International Civil Aviation Organization, the International Criminal Police Organization, the UN Framework Convention on Climate Change, and other multilateral organizations. In addition, the EP welcomes closer official and people-to-people interactions and exchanges between Taiwan and the EU, including the recent visit of former President Tsai Ing-wen to the EP.Since the Inter-Parliamentary Alliance on China passed a model resolution concerning UNGA Resolution 2758 in July for its members’ reference, the Australian Senate and the Dutch House of Representatives have passed motions in support of Taiwan. The EP thus becomes the third parliament to approve a similar resolution. MOFA urges the global community to take concrete action to oppose China’s misrepresentation of UNGA Resolution 2758 and to refute China’s false claim that there is an international consensus on its so-called “one China principle.” Taiwan will continue to enhance its substantive and comprehensive cooperation with the EU and other like-minded partners to jointly ensure peace and stability across the Taiwan Strait and in the Indo-Pacific. (E)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MOFA response to joint declaration by G7 defence ministers expressing concern over China’s joint military exercise around Taiwan and reaffirming importance of cross-strait peace and stability

    Source: Republic of China Taiwan 3

    MOFA response to joint declaration by G7 defence ministers expressing concern over China’s joint military exercise around Taiwan and reaffirming importance of cross-strait peace and stability

    October 20, 2024  

    The Group of Seven (G7) defense ministers held a meeting in Naples, Italy, from October 18 to 20. In a joint declaration issued on October 19, they expressed concern over China’s provocative actions, particularly the recent People’s Liberation Army military drills around Taiwan. They reaffirmed that maintaining peace and stability across the Taiwan Strait was indispensable to international security and prosperity and called for the peaceful resolution of cross-strait issues. The Ministry of Foreign Affairs highly welcomes and sincerely appreciates the G7 member states’ staunch support for maintaining the peaceful status quo across the Taiwan Strait. 
     
    As a responsible member of the Indo-Pacific community, Taiwan will continue to strengthen cooperation with G7 member countries and take concrete actions to uphold the core values of democracy, freedom, human rights, and the rule of law. It will work in solidarity with like-minded partners to safeguard the rules-based international order and promote prosperity and stability in the region and throughout the world.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MOFA response to joint passage of US, Canadian warships through Taiwan Strait on October 20

    Source: Republic of China Taiwan 3

    MOFA response to joint passage of US, Canadian warships through Taiwan Strait on October 20

    October 21, 2024 

    The US Arleigh Burke-class guided-missile destroyer USS Higgins and the Canadian Halifax-class frigate HMCS Vancouver conducted a routine transit of the Taiwan Strait on October 20. The Ministry of Foreign Affairs (MOFA) welcomes and affirms the United States and Canada once again taking concrete action to emphasize the Taiwan Strait’s status in law as an international waterway and their firm stance on safeguarding freedom of navigation and regional stability.
     
    The US 7th Fleet and Canadian Joint Operations Command provided details of their joint mission in separate media statements and posts on the social media platform X. The US 7th Fleet statement noted that the transit had taken place through waters where high-seas freedom of navigation applied in accordance with international law. It said that the mission demonstrated the United States’ and Canada’s commitment to upholding freedom of navigation for all nations and that the international community’s navigational rights and freedoms in the Taiwan Strait should not be limited. It further stated that the United States rejected any assertion of sovereignty or jurisdiction that was inconsistent with freedoms of navigations, overflight, or other lawful uses of the sea and air. The Canadian Joint Operations Command post on X stated that its activities promoted peace, resilience, and security in the Indo-Pacific.
     
    This was the fourth joint transit of the Taiwan Strait by the United States and Canada in under two years, demonstrating democratic allies’ determination to take firm and concrete actions to safeguard Taiwan Strait peace. The government of Taiwan will continue to strengthen Taiwan’s self-defense capabilities, staunchly oppose authoritarian expansion, and deepen cooperation with like-minded nations so as to jointly defend the rules-based international order as well as peace, stability, and prosperity across the Taiwan Strait and throughout the region.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MOFA response to US, ROK, and Japan national security advisors reaffirming importance of cross-strait peace and stability and calling for peaceful resolution of cross-strait issues

    Source: Republic of China Taiwan 3

    MOFA response to US, ROK, and Japan national security advisors reaffirming importance of cross-strait peace and stability and calling for peaceful resolution of cross-strait issues

    Date：2024-10-26
    Data Source：Department of North American Affairs

    October 26, 2024 

    US White House National Security Advisor Jake Sullivan, Japanese National Security Secretariat Secretary-General Takeo Akiba, and Republic of Korea National Security Office Director Shin Won-sik held a trilateral meeting in Washington, DC, on October 25. In a joint readout issued after the meeting, the three national security advisors reaffirmed the importance of maintaining peace and stability across the Taiwan Strait, called for the peaceful resolution of cross-strait issues, and expressed strong opposition to any unilateral attempts to change the status quo by force or coercion in the waters of the Indo-Pacific.
     
    The Ministry of Foreign Affairs (MOFA) thanks the United States, Japan, and the ROK for continuing to jointly reiterate the importance of cross-strait peace and stability through high-level meetings of national security officials and diplomats, underscoring the high degree of international consensus on maintaining peace and stability across the Taiwan Strait and the region. Taiwan will continue to work with the United States, Japan, the ROK, and other like-minded nations to preserve peace, stability, and prosperity across the Taiwan Strait and beyond.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: MOFA thanks countries that have publicly expressed concern over Taiwan Strait situation and stressed importance of cross-strait peace and stability in concerted effort to safeguard rules-based international order

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA thanks countries that have publicly expressed concern over Taiwan Strait situation and stressed importance of cross-strait peace and stability in concerted effort to safeguard rules-based international order

    • Date：2024-10-19
    • Data Source：Department of Policy Planning

    October 19, 2024  

    No. 359  

    The Ministry of Foreign Affairs (MOFA) sincerely appreciates that the administrations and friendly members of parliament of more than 30 countries, as well as the European Union, have publicly expressed concern over the cross-strait situation or stressed the importance of maintaining peace and stability after China once again recently launched military drills to intimidate Taiwan. Countries including Taiwan’s diplomatic allies, the United States, Japan, the United Kingdom, France, Germany, Australia, New Zealand, Lithuania, and the Republic of Korea variously urged China to exercise restraint and stated that differences should be resolved through dialogue and not the threat of force or coercion. 

     

    The maintenance of peace and stability across the Taiwan Strait is in the common interests of both sides of the strait and the international community. There is a high degree of consensus within global society over the importance of preserving peace and stability across the Taiwan Strait and throughout the Indo-Pacific. MOFA once again calls on China to face up to the reality of the existence of the Republic of China (Taiwan) and to respect the Taiwanese people’s choice of a free and democratic way of life, willingness to engage in international cooperation alongside China, and goodwill toward maintaining regional security and pursuing peace and shared prosperity. It urges China to stop using use military provocation or other means to threaten and suppress Taiwan and disrupt the regional status quo. Only this can facilitate the positive development of cross-strait relations and satisfy the expectations of the international community.

     

    MOFA calls on all nations to continue to voice concern over the cross-strait situation and support Taiwan. Taiwan will further work with its diplomatic allies and like-minded partners to safeguard the rules-based international order and jointly advance regional peace, stability, and prosperity. (E)

    MIL OSI China News –

  • MIL-OSI China: MOFA welcomes European Parliament resolution on PRC’s misinterpretation of UNGA Resolution 2758 and continuous military provocations against Taiwan

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA welcomes European Parliament resolution on PRC’s misinterpretation of UNGA Resolution 2758 and continuous military provocations against Taiwan

    • Date：2024-10-25
    • Data Source：Department of European Affairs

    October 25, 2024
    No. 365

    The European Parliament (EP) on October 24 adopted a resolution concerning the misinterpretation of United Nations General Assembly (UNGA) Resolution 2758 by the People’s Republic of China and its continuous military provocations around Taiwan by an overwhelming majority of 432 votes in favor and 60 against. The EP resolution strongly opposes the PRC distorting UNGA Resolution 2758 to block Taiwan’s international participation and calls on the European Union and its member states to support Taiwan’s meaningful participation in relevant international organizations. The Ministry of Foreign Affairs (MOFA) strongly affirms and sincerely appreciates this support. 

    The EP resolution points out that UNGA Resolution 2758 addresses the status of the PRC but does not determine that the PRC enjoys sovereignty over Taiwan, nor does it make any judgement on the future inclusion of Taiwan in the UN or any other international organization. It also states that Taiwan has never been part of the PRC. Stressing that UNGA Resolution 2758 takes no position on Taiwan, the EP resolution strongly rejects and refutes the PRC’s attempts to distort history and international rules and thereby block Taiwan’s meaningful participation in international organizations. It also strongly condemns the PRC’s continued military provocations and gray-zone activities against Taiwan and reiterates the EU’s firm rejection of any unilateral change to the status quo in the Taiwan Strait.

    Pointing out that Taiwan is a key, like-minded partner of the EU in the Indo-Pacific, the EP resolution calls for the EU and its member states to further deepen cooperation and exchanges with Taiwan in such domains as the economy, investment, semiconductor and high-tech industrial supply chains, disaster management, civil protection, and countering disinformation and foreign interference. It also advocates continued support for Taiwan’s meaningful participation in the World Health Organization, the International Civil Aviation Organization, the International Criminal Police Organization, the UN Framework Convention on Climate Change, and other multilateral organizations. In addition, the EP welcomes closer official and people-to-people interactions and exchanges between Taiwan and the EU, including the recent visit of former President Tsai Ing-wen to the EP.

    Since the Inter-Parliamentary Alliance on China passed a model resolution concerning UNGA Resolution 2758 in July for its members’ reference, the Australian Senate and the Dutch House of Representatives have passed motions in support of Taiwan. The EP thus becomes the third parliament to approve a similar resolution. MOFA urges the global community to take concrete action to oppose China’s misrepresentation of UNGA Resolution 2758 and to refute China’s false claim that there is an international consensus on its so-called “one China principle.” Taiwan will continue to enhance its substantive and comprehensive cooperation with the EU and other like-minded partners to jointly ensure peace and stability across the Taiwan Strait and in the Indo-Pacific. (E)

    MIL OSI China News –

  • MIL-OSI China: MOFA response to joint declaration by G7 defence ministers expressing concern over China’s joint military exercise around Taiwan and reaffirming importance of cross-strait peace and stability

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to joint declaration by G7 defence ministers expressing concern over China’s joint military exercise around Taiwan and reaffirming importance of cross-strait peace and stability

    October 20, 2024  

    The Group of Seven (G7) defense ministers held a meeting in Naples, Italy, from October 18 to 20. In a joint declaration issued on October 19, they expressed concern over China’s provocative actions, particularly the recent People’s Liberation Army military drills around Taiwan. They reaffirmed that maintaining peace and stability across the Taiwan Strait was indispensable to international security and prosperity and called for the peaceful resolution of cross-strait issues. The Ministry of Foreign Affairs highly welcomes and sincerely appreciates the G7 member states’ staunch support for maintaining the peaceful status quo across the Taiwan Strait. 

     

    As a responsible member of the Indo-Pacific community, Taiwan will continue to strengthen cooperation with G7 member countries and take concrete actions to uphold the core values of democracy, freedom, human rights, and the rule of law. It will work in solidarity with like-minded partners to safeguard the rules-based international order and promote prosperity and stability in the region and throughout the world.

    MIL OSI China News –

  • MIL-OSI China: MOFA response to joint passage of US, Canadian warships through Taiwan Strait on October 20

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to joint passage of US, Canadian warships through Taiwan Strait on October 20

    October 21, 2024 

    The US Arleigh Burke-class guided-missile destroyer USS Higgins and the Canadian Halifax-class frigate HMCS Vancouver conducted a routine transit of the Taiwan Strait on October 20. The Ministry of Foreign Affairs (MOFA) welcomes and affirms the United States and Canada once again taking concrete action to emphasize the Taiwan Strait’s status in law as an international waterway and their firm stance on safeguarding freedom of navigation and regional stability.

     

    The US 7th Fleet and Canadian Joint Operations Command provided details of their joint mission in separate media statements and posts on the social media platform X. The US 7th Fleet statement noted that the transit had taken place through waters where high-seas freedom of navigation applied in accordance with international law. It said that the mission demonstrated the United States’ and Canada’s commitment to upholding freedom of navigation for all nations and that the international community’s navigational rights and freedoms in the Taiwan Strait should not be limited. It further stated that the United States rejected any assertion of sovereignty or jurisdiction that was inconsistent with freedoms of navigations, overflight, or other lawful uses of the sea and air. The Canadian Joint Operations Command post on X stated that its activities promoted peace, resilience, and security in the Indo-Pacific.

     

    This was the fourth joint transit of the Taiwan Strait by the United States and Canada in under two years, demonstrating democratic allies’ determination to take firm and concrete actions to safeguard Taiwan Strait peace. The government of Taiwan will continue to strengthen Taiwan’s self-defense capabilities, staunchly oppose authoritarian expansion, and deepen cooperation with like-minded nations so as to jointly defend the rules-based international order as well as peace, stability, and prosperity across the Taiwan Strait and throughout the region.

    MIL OSI China News –

  • MIL-OSI China: Foreign Minister Lin to attend Saint Vincent and Grenadines’ 45th Independence Day celebrations as presidential envoy and visit Guatemala, Saint Lucia, Belize, and Saint Christopher and Nevis

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    Foreign Minister Lin to attend Saint Vincent and Grenadines’ 45th Independence Day celebrations as presidential envoy and visit Guatemala, Saint Lucia, Belize, and Saint Christopher and Nevis

    • Date：2024-10-23
    • Data Source：Department of Latin American and Caribbean Affairs

    October 23, 2024 

    No. 362

    Saint Vincent and the Grenadines will celebrate the 45th anniversary of independence on October 27. Underscoring the importance that Taiwan attaches to its diplomatic relations between the two countries, President Lai Ching-te appointed Minister of Foreign Affairs Lin Chia-lung as his special envoy to extend congratulations to Saint Vincent and the Grenadines on behalf of the people and government of the Republic of China (Taiwan). During his visit, Minister Lin will attend various celebration activities and meet with Governor-General Susan Dougan and Prime Minister Ralph Gonsalves to exchange views on issues of mutual concern and the direction of future cooperation. 

     

    To further deepen Taiwan’s friendships with its Latin American and Caribbean allies, Minister Lin will also visit four other countries—Guatemala, Saint Lucia, Belize, and Saint Christopher and Nevis. He will hold meetings with their respective heads of state and government and conduct an inspection tour of bilateral collaboration projects. The delegation led by Minister Lin will depart on October 23 and return to Taipei on November 2. Minister Lin’s wife will accompany him on his visit to Guatemala. She has been invited by Guatemalan First Lady Lucrecia Peinado, who recently traveled to Taiwan for National Day celebrations.

     

    On this trip, Minister Lin will discuss in detail the content and vision of the Taiwan government’s Diplomatic Allies Prosperity Project. This initiative will mark a new chapter of bilateral cooperation based on mutual benefits and shared prosperity, with a shift from consolidating alliances to creating prosperity. Taiwan and its allies will build on the existing solid foundations to further deepen collaboration, support national development programs, and enhance people’s well-being.

     

    Taiwan and its allies in Latin America and the Caribbean enjoy robust relations, having long engaged in close cooperation across such domains as public health, health care, agriculture, education, ICT, and women’s empowerment. Joint endeavors aimed at benefiting the economy and people’s livelihoods have achieved significant success and earned widespread acclaim. (E)

    MIL OSI China News –

  • MIL-OSI China: Ministry of Foreign Affairs Website Maintenance Notification

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    Ministry of Foreign Affairs Website Maintenance Notification

    • Date：2024-10-24
    • Data Source：Public Diplomacy Coordination Council

    The Ministry of Foreign Affairs website (www.mofa.gov.tw) and its subdomains, including the Youth Programs website (www.youthtaiwan.net) and the Minister’s Mailbox (eyes.mofa.gov.tw), will be unavailable due to maintenance work on Saturday, October 26, from 12:00 to 15:00 (Taipei time). We apologize for any inconvenience this may cause.

    MIL OSI China News –

  • MIL-OSI China: MOFA response to US, ROK, and Japan national security advisors reaffirming importance of cross-strait peace and stability and calling for peaceful resolution of cross-strait issues

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to US, ROK, and Japan national security advisors reaffirming importance of cross-strait peace and stability and calling for peaceful resolution of cross-strait issues

    • Date：2024-10-26
    • Data Source：Department of North American Affairs

    October 26, 2024 

    US White House National Security Advisor Jake Sullivan, Japanese National Security Secretariat Secretary-General Takeo Akiba, and Republic of Korea National Security Office Director Shin Won-sik held a trilateral meeting in Washington, DC, on October 25. In a joint readout issued after the meeting, the three national security advisors reaffirmed the importance of maintaining peace and stability across the Taiwan Strait, called for the peaceful resolution of cross-strait issues, and expressed strong opposition to any unilateral attempts to change the status quo by force or coercion in the waters of the Indo-Pacific.

     

    The Ministry of Foreign Affairs (MOFA) thanks the United States, Japan, and the ROK for continuing to jointly reiterate the importance of cross-strait peace and stability through high-level meetings of national security officials and diplomats, underscoring the high degree of international consensus on maintaining peace and stability across the Taiwan Strait and the region. Taiwan will continue to work with the United States, Japan, the ROK, and other like-minded nations to preserve peace, stability, and prosperity across the Taiwan Strait and beyond.

    MIL OSI China News –

  • MIL-OSI China: ​New board unveiled to empower China’s film industry

    Source: China State Council Information Office 3

    A new special committee was launched on Oct. 24 in Beijing to actively implement the central government’s instructions for the development of the film industry. This new committee intents to better empower filmmaking through industrialization and informatization, as well as harness technologies to create new quality productive forces for Chinese cinema.

    Representatives from several companies that found the Industry and Technology Film and Television Special Committee of the China Xia Yan Film Institute (CXYFI) pose for a photo with their respective certificates at a launch ceremony held in Beijing, Oct. 24, 2024. [Photo courtesy of CXYFI]

    Jointly established by the Industrial Culture Development Center under the Ministry of Industry and Information Technology (MIIT) and the China Xia Yan Film Institute (CXYFI), the Industry and Technology Film and Television Special Committee’s establishment was announced during the third meeting of the CXYFI’s fifth council, which coincided with the opening ceremony for the 14th Beijing International Internet Film Festival. 

    Sun Xing, deputy director of the Industrial Culture Development Center, will serve as the general advisor to this new special committee. The renowned filmmaker Zhang Jianya will take up the role of committee director while Zhang Lu, the secretary-general of the MIIT’s Industry and Science Fiction Film and TV Experts Committee, will be the committee’s secretary-general.

    A list of inaugural members was also revealed. These initial members cover various aspects of the industry, such as firms that focus on film production, distribution and promotion, and include 32 leading enterprises such as Shanghai-based Three-Body Universe Cultural Development Co., Ltd., iQiyi and Beijing Airmita Culture Development Co., Ltd.

    Sun emphasized in his speech during the announcement that the third plenary session of the 20th Central Committee of the Communist Party of China (CPC) explicitly proposed that the nation needs to “achieve greater self-reliance and strength in science and technology,” highlighting the film industry’s stride toward self-reliance and high-quality development. He also noted that the rapid development of new technologies such as artificial intelligence and virtual filming is profoundly impacting the transformation of the film industry. 

    According to information that was provided during the announcement, the Industry and Technology Film and Television Special Committee will prioritize promoting research, development, application and industrialization of film technologies and equipment, including advanced technologies like virtual production and artificial intelligence. It will focus on creating and producing industry-themed and sci-fi works, taking film industrialization as its primary responsibility. The committee also aims to foster integration and innovation of industry and culture as well as technology and art, contributing to the development of socialist cultural undertakings with Chinese characteristics. Additionally, it plans to organize industry exchange activities, regularly host forums and seminars to share technological advancements and trends, showcase the achievements of China’s film industry and boost Chinese cinema’s international influence.

    The China Xia Yan Film Institute is named after Xia Yan, a prominent Chinese screenwriter, pioneer, activist and leader of the Chinese Left-wing Cinema Movement in the 1930s.

    MIL OSI China News –

  • MIL-OSI China: Int’l horticultural expo attracts over 10 million visitors

    Source: People’s Republic of China – State Council News

    Int’l horticultural expo attracts over 10 million visitors

    Updated: October 29, 2024 16:32 Xinhua

    The International Horticultural Exhibition 2024 Chengdu closed on Monday in Chengdu, southwest China’s Sichuan Province. The 186-day event attracted over 10 million visitors.

    MIL OSI China News –

  • MIL-OSI Russia: To the participants and organizers of the 30th International Industrial Exhibition “Metal-Expo”

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    The exhibition will be held from October 29 to November 1 in Moscow.

    Dear colleagues!

    I am pleased to welcome the participants and organizers of the 30th anniversary International Industrial Exhibition “Metal-Expo”.

    Over three decades, it has become an important platform for exchanging experience and holding negotiations between leading steel companies and consumers of their products, equipment manufacturers and technological innovators. This year, about a thousand enterprises from the CIS and far abroad countries, including China, India, Iran, Turkey and the European Union, are represented here.

    Today, the domestic metallurgical industry, having successfully adapted to the sanctions pressure, is implementing large-scale plans and is actively developing. According to the results of last year, its growth exceeded 3 percent. High demand for products is largely due to housing and road construction, modernization of public infrastructure and utility networks. This year, the Moscow-St. Petersburg high-speed railway project was launched, the expansion of the BAM and the Trans-Siberian Railway, the federal highway M-12 “East” continues, dozens of river and sea vessels for various purposes are being built at shipyards across the country. The restoration of automobile production is gaining momentum – from January to June, the output of trucks increased by 21 percent, cars – three times more. And this is an additional hundreds of thousands of tons of various types of rolled and cast products.

    In many ways, these results were facilitated by the implementation of the Strategy for the Development of the Metallurgical Industry until 2030, prepared on the instructions of the head of state. Work is being carried out in three main areas – deepening processing and mastering high value added processes, providing critical raw materials and stimulating domestic demand, as well as reorienting exports to the markets of friendly countries.

    The President emphasized that the industry is becoming more and more high-tech year after year. Advanced engineering and production solutions are being actively implemented, and unique alloys are being developed that allow for the creation of materials with special properties. All this opens up new and broad opportunities in various fields – from aviation and cosmonautics to electronics and medicine.

    I am confident that the exhibition and the professional competitions, conferences and seminars planned within its framework will allow us to find answers to the most difficult questions, discuss new challenges and opening prospects.

    I wish all participants and organizers constructive discussions and success.

    M. Mishustin

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: SJ attends 14th China-ASEAN Prosecutors-General Conference in Singapore (with photos)

    Source: Hong Kong Government special administrative region

    SJ attends 14th China-ASEAN Prosecutors-General Conference in Singapore (with photos)
    SJ attends 14th China-ASEAN Prosecutors-General Conference in Singapore (with photos)
    *************************************************************************************

         The Secretary for Justice, Mr Paul Lam, SC, attended the 14th China-ASEAN Prosecutors-General Conference in Singapore today (October 29) and delivered a speech at the plenary session.     The conference, organised by the Attorney-General’s Chambers of Singapore, brought together officials, prosecutors and legal experts from 13 delegations to share their views on the conference’s theme – “Fostering Co-operation on Combating Financial Crimes”.      Addressing the plenary session of the conference, Mr Lam elaborated that Hong Kong has been adopting a multipronged approach in combating financial crimes with international elements, including adopting international regulatory standards, establishing a collaborative network for effective prosecution and asset recovery, making better use of emerging technologies and encouraging knowledge and experience sharing, in order to build a trustworthy and secure financial environment. He also mentioned that Hong Kong has established a comprehensive co-operation regime for the mutual legal assistance and surrender of fugitives, and that geopolitical considerations should not be allowed to hinder international co-operation in fighting financial crimes. The fight against financial crimes with international elements is a daunting and ongoing challenge. He expressed hope that Hong Kong and all other jurisdictions will continue to strengthen collaboration to jointly combat related crimes.     At the closing session of the conference, Mr Lam remarked that the 15th China-ASEAN Prosecutors-General Conference will be held in Hong Kong next year.     During his visit to Singapore, Mr Lam attended other related activities. As a member of the Chinese delegation, he attended bilateral meetings between the delegation and member states of the Association of Southeast Asian Nations, namely Singapore, Myanmar, Vietnam, Brunei, Laos and Thailand, to exchange views with them on issues of mutual interest. He also attended a lecture given yesterday (October 28) by the Prosecutor-General of the Supreme People’s Procuratorate, Mr Ying Yong, on “The Chinese Prosecutorial System in the Process of Comprehensive Implementation of the Rule of Law”.     Mr Lam will conclude his visit to Singapore tomorrow morning (October 30) and return to Hong Kong.

     
    Ends/Tuesday, October 29, 2024Issued at HKT 17:42

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CE leads delegation to visit Shanghai and attend seventh China International Import Expo

    Source: Hong Kong Government special administrative region

    CE leads delegation to visit Shanghai and attend seventh China International Import Expo
    CE leads delegation to visit Shanghai and attend seventh China International Import Expo
    ****************************************************************************************

         The Chief Executive, Mr John Lee, will lead a Hong Kong Special Administrative Region (HKSAR) Government delegation to visit Shanghai on November 4 and will attend the seventh China International Import Expo (CIIE).               Members of the HKSAR Government delegation include the Financial Secretary, Mr Paul Chan; the Secretary for Commerce and Economic Development, Mr Algernon Yau; the Director of the Chief Executive’s Office, Ms Carol Yip; the Permanent Secretary for Financial Services and the Treasury (Financial Services), Ms Salina Yan; and the Permanent Secretary for Commerce and Economic Development, Ms Maggie Wong.           On November 5, Mr Lee will attend the opening ceremony of the CIIE and the Hongqiao International Economic Forum and visit the booths of Hong Kong enterprises at the Hong Kong exhibition area to show support. In addition, the HKSAR Government and the Hong Kong Trade Development Council will hold a high-level event, namely the 2024 Hong Kong Investment Promotion Conference – Shanghai Forum, during the CIIE, where Mr Lee and Mr Chan will deliver speeches to promote Hong Kong’s advantages and its role as a connecting platform under the national dual circulation strategy to Mainland and overseas enterprises.     “The CIIE is an important economic diplomatic event held after the victorious conclusion of the Third Plenary Session of the 20th Central Committee of the Communist Party of China, providing vast business opportunities for Hong Kong enterprises to tap into the domestic market. Hong Kong has always actively participated in and supported the CIIE. In addition to senior government officials attending, over 300 Hong Kong enterprises are taking part in the exposition this year, jointly promoting Hong Kong’s advantages and development opportunities in different areas and telling Hong Kong’s good stories,” Mr Lee said.     During his visit to Shanghai, Mr Lee will meet with leaders of Shanghai to deepen Hong Kong-Shanghai cooperation. He will also exchange views with Hong Kong people and representatives of Hong Kong enterprises in Shanghai.           Mr Lee will return to Hong Kong on November 6. During his absence, the Chief Secretary for Administration, Mr Chan Kwok-ki, will be the Acting Chief Executive. During the absence of Mr Paul Chan, the Deputy Financial Secretary, Mr Michael Wong, will be the Acting Financial Secretary. During the absence of Mr Yau, the Under Secretary for Commerce and Economic Development, Dr Bernard Chan, will be the Acting Secretary for Commerce and Economic Development.

     
    Ends/Tuesday, October 29, 2024Issued at HKT 17:48

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Closing remarks by SJ at 14th China-ASEAN Prosecutors-General Conference in Singapore (English only)

    Source: Hong Kong Government special administrative region

         Following are the closing remarks by the Secretary for Justice, Mr Paul Lam, SC, at the 14th China-ASEAN Prosecutors-General Conference in Singapore today (October 29):Your Excellencies, ladies and gentlemen,     It gives me great pleasure to speak to all of you again at the Closing Session of the 14th China-ASEAN Prosecutors-General Conference. We all have a very long and fruitful day, and I am sure that you are all very eager to get prepared for the Gala Dinner, and perhaps to do some rehearsal for our performances.     That said, I must once again thank Your Excellency Mr Lucien Wong, SC, Attorney-General of the Republic of Singapore, for the generous hospitality and assistance that have been provided to us throughout this conference, without which this conference could not be so successful.     China and ASEAN have come a long way over the past decades, working hand in hand towards common progress and prosperity. But it is sheer common sense and simple logic that progress and prosperity can only be achieved if criminal activities, including criminal activities conducted internationally, can be suppressed effectively. No doubt, the fight against crime on the international front will not be easy, and it certainly cannot be fought by one jurisdiction alone. It is only by working together and learning from each other’s practices and experiences that we can collectively move ahead to tackle novel criminal trends head-on. The speeches that we have heard today demonstrated that, notwithstanding the differences in our legal systems, we share a lot of common grounds, and we adopt very similar principles and methods to combat international commercial crimes.     There is no doubt that the annual China-ASEAN Prosecutors-General Conference, which started 20 years ago back in 2004, has been established to be an essential and indispensable platform, and component of our joint efforts, to foster co-operation and collaboration in considering and handling international criminal issues. Today’s successful 14th conference serves as the best example.The 15th China-ASEAN Prosecutors-General Conference     To enable continued exchanges between China and ASEAN member states via this crucial platform, China will host the 15th China-ASEAN Prosecutors-General Conference next year in the Hong Kong Special Administrative Region. May I sincerely extend my gratitude to all ASEAN member states as well as China, the host country and motherland of Hong Kong, for giving Hong Kong this valuable opportunity, and for their continued and unwavering support. Hong Kong is truly honoured to be given the privilege of organising this important and meaningful conference.     I am sure that the 15th China-ASEAN Prosecutors-General Conference will provide fertile ground for China and ASEAN member states to exchange best practices and ideas, share insights and experiences, and foster professional connections to further our collective efforts in building an international front against crime. The hosting of the 15th China-ASEAN Prosecutors-General Conference also represents a clear and unequivocal commitment and determination on the part of Hong Kong, as a special administrative region of China and under the principle of “one country, two systems”, to work together with members of ASEAN in this important aspect.     But I wish to emphasise that Hong Kong is indeed very eager to foster closer ties with all member states of ASEAN in other areas of common interests. An important fact that should be borne in mind is that, apart from Mainland China, ASEAN is the second largest trading partner of Hong Kong. Our Chief Executive visited Laos, Cambodia and Vietnam in late July. And as the Secretary for Justice of Hong Kong, I visited Singapore in July, a couple of months ago, and I went to Brunei, Vietnam and Malaysia last month. And I hope that I will be able to visit all other members of ASEAN in the near future to explore opportunities for co-operation and collaboration.     The success of this conference organised by our Singaporean friends certainly sets a very high standard that we shall strive to match. And, as I mentioned this morning, in about a month’s time, Hong Kong will be hosting the 11th Asia and Pacific Regional Conference of the International Association of Prosecutors, to discuss pertinent topics related to the theme “Effective Prosecution Service in the Technological Age”. I look forward to seeing some of you to Hong Kong then. We shall of course make use of the experiences to be gained from organising that conference in planning the 15th China-ASEAN Prosecutors-General Conference next year.     On this happy occasion, I wish to give you my solemn undertaking on behalf of Hong Kong that we will do our best and make our best endeavours to make the 15th China-ASEAN Prosecutors-General Conference next year yet another success.Concluding remarks     Details of the upcoming conference, including its theme, will be announced and invitations will be sent in due course. I look forward to welcoming you all to Hong Kong next year at the 15th China-ASEAN Prosecutors-General Conference, if not earlier.     And on this note, I wish to thank all of you again, in particular our host, the Attorney-General’s Chambers of Singapore, and Mr Ying Yong, the Prosecutor-General of the Supreme People’s Procuratorate of China, for giving Hong Kong the opportunity to host the Conference next year. I hope you all have a very enjoyable evening. Thank you very much.

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Press conference – Bendigo

    Source: Australian Executive Government Ministers

    Attorney-General
    Cabinet Secretary
    The Hon Mark Dreyfus KC MP

    Member for Bendigo
    Lisa Chesters MP

    Joint transcript

    E&OE

    Subjects: U 25-GO Blue Light funding; Chinese military video; AUKUS

    LISA CHESTERS, MEMBER FOR BENDIGO: I’m really proud to be standing next to my friend and colleague, the Attorney-General, Mark Dreyfus, who is here today with a significant funding announcement for our local Blue Light Program. The Bendigo Blue Light chapter has been running for over a decade now, and almost for as long as I’ve been a Federal Member, and since my very first engagement with them, I was just impressed at the way they want to help young people break free, change their life, change their pathway. Many of the people involved in Bendigo Blue Light are serving officers, police officers, and their passion that they have for young people in Bendigo is extraordinary. And the young people involved in this program, their bravery to make a difference and to change their pathway is fantastic. Quite often people write them off. People in media, people in politics, will write these young people off, but they didn’t write themselves off. Neither did Anglicare, neither did the partners involved in this program, and neither did our government, and that is why I’m so proud that that the Attorney-General is here to make an announcement today for the future of this program. So welcome back to Bendigo, Mark.

    ATTORNEY-GENERAL MARK DREYFUS: Thank you very much, Lisa and I am delighted to be here with my friend and colleague Lisa Chesters as the Member for Bendigo to announce funding as part of a Federal Government program U25-GO, which is going to be $13.5 million for nine organisations across the country, police, youth, citizens clubs and Blue Light organisations right across Australia. But right here in Bendigo, we’re announcing $2 million as part of this program for Blue Light Victoria which is going to be providing programs to youth across the Bendigo region, the La Trobe region and the Melbourne region. And this is really useful programs. They’re tailored programs for young people from 10 to 17, and depending on the particular needs of the young person, it’s very often one on one counselling, but it’s also working with families, different groups of selected young people, and it’s a wonderful demonstration of the commitment that the Albanese Labor Government has to supporting young people in our country. We need to look at ways to keep people out of the criminal justice system. We need to look at ways to pick up young people who’ve been in the criminal justice system, to make sure they don’t return to the criminal justice system. We know these programs work. We’ve seen from the Blue Light organisation. We heard from Lily and Jaykob here earlier today about how good the program has been for them, and I know from previous contact with the Blue Light organisation just how useful the work that they do is. We’re aiming to keep on supporting that work, because we know how good it can be. Thanks very much.

    REPORTER: Can I just ask one quick question on today’s announcement in regional areas, obviously here Bendigo and La Trobe as well, for these young people to have an opportunity to seek out a program like this in regional areas, specifically where we know services can be few and far between, services like this. So, what was the business case that these guys put forward that we thought, yep, okay, this is something we want to fund.

    ATTORNEY-GENERAL: The business case that Blue Light Victoria put forward is, we’ve been doing this for quite some time, and we know it works. That’s a great business case. We like to work with organisations that are established. We like to work with organisations that have got connections in the community. We like to work with organisations that have got established group of volunteers. Blue Light Victoria ticks every single one of those boxes.

    REPORTER: I’ve just got two unrelated questions for you Attorney-General. Have you seen the Chinese military video of a dangerous intercept of Australian aircraft over the South China Sea, and what’s your response?

    ATTORNEY-GENERAL: We’ve seen some unverified videos this morning that came on social media. They remain unverified, but I can assure everyone that all operations of the Australian Defence Forces, all operations of the RAAF in the South China Sea and in other parts of South East Asia are conducted in accordance with international law.

    REPORTER: One more question for you on AUKUS, does including high tech countries like Japan and Korea send a clear signal to China of our strength and capabilities, and is it enough to counter Beijing’s influence?

    ATTORNEY-GENERAL: This is a partnership with the United Kingdom and the United States. Of course, as has been reported, there are some other discussions going on, but clearly, this is a very, very important arrangement. It’s going to provide submarine technology to Australia. It’s going to give access to Australia for technology in the future. We’re looking forward in coming years to AUKUS developing.

    REPORTER: First and foremost, you’re sharing millions of dollars worth of funding for the really critical programs that Blue Light runs. Tell me what’s your reaction to today’s announcement?

    ELISSA SCOTT, CEO BLUE LIGHT VICTORIA: We are so grateful and very excited about the opportunity to now deliver more services and more programs to young people across the state. This funding will allow an additional 1200 young people to benefit from our program. So it’s a great news story for us today.

    REPORTER: Can you tell us a bit about these programs, how, I guess, how they’re designed to help participants?

    SCOTT: They are early intervention and prevention programs. So, Blue Light’s aim is to really get in early and act early before issues arise. So we have three different types of programs that this funding will now allow us to roll out our one to one mentoring program, so like we’ve seen here today in Bendigo, with young people who have been really disengaged, and we look at getting mentors involved with them from across police and emergency services. And then we’ve got two other schools based programs, our Blue Edge program, and also a new program called CoRE, which will really be around connecting young people back into community and actually undertaking some community projects. So it’s around their contribution back as well.

    REPORTER: Have you seen the lives change for the better of these participants? Can you tell us a bit about how going through an early intervention or prevention program, as you just outlined can, you know, keep these kids on the right track, or put them on the right track?

    SCOTT: Often young people come to us when they’re really disengaged, they’re really disconnected. And what we know about young people is that, in terms of protective factors, they need connection, they need engagement, and they need someone to actually walk alongside them and trust in the fact that they can make some really positive and healthy and safe choices. That’s what Blue Light does. We get in there at the earliest opportunity, and we provide initiatives that will allow young people just to thrive and grow and reach their full potential.

    REPORTER: That 1200 is not just Bendigo?

    SCOTT: That’s across the state.

    REPORTER: Further to Katie’s question there, can you describe to us the backgrounds that some of these kids are coming from, that they actually end up in this funnel, they end up on Blue Light’s radar?

    SCOTT: As you would know, being a teenager, there’s lots of complexities and lots of challenges that you have to work through. Some of our young people have come from families where there has been violence, where there has been other forms of trauma. Sometimes they have just started to use substances in a really not so great way. They might have come to the attention of police and might have had their first interaction with the justice system, or they might just be a bit disengaged from school and not really sure about what life holds for them. A number of our young people have complex mental health issues. So really, for us, it’s around we want to really assist a whole lot of diverse young people coming to our programs and receive an opportunity to thrive and grow and to learn new skills so that they can make some really safe and wise decisions in the future.

    REPORTER: It was mentioned before that a lot of the people who work with Blue Light are either serving or former police officers. Do you think that it’s important that these young people see and engage with police, not just in a judicial sense, in, you know, basically getting the handcuffs slapped on them and ending up in front of court?

    SCOTT: Look definitely. Blue Light certainly has a huge volunteer base. We have volunteers from police, but also volunteers from emergency services as well. And the reason that we work with police and emergency services is because they are generally positive community role models, and that is fantastic for young people like we’ve seen today, for Lily and Jaykob to actually get to know a police officer as a person and to have that deeper understanding about why that is so important in the community, and then to learn from them. It’s really fantastic opportunity for young people to break down some of these barriers and to get someone also to invest in them and to care about what they’re doing and what they might do into the future.

    [ENDS]

    MIL OSI News –

  • MIL-OSI: UP Fintech Announces Full Exercise of Over-Allotment Option in Follow-on Public Offering of American Depositary Shares

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Oct. 29, 2024 (GLOBE NEWSWIRE) — UP Fintech Holding Limited (Nasdaq: TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced that the underwriters of the Company’s follow-on public offering have fully exercised their option to purchase an aggregate of 2,250,000 additional American Depositary Shares (“ADSs”), each representing 15 Class A ordinary shares of the Company, from the Company at the public offering price of US$6.25 per ADS.

    Deutsche Bank AG, Hong Kong Branch, China International Capital Corporation Hong Kong Securities Limited and US Tiger Securities, Inc. acted as the joint bookrunners for the ADS offering.

    The ADS offering has been made pursuant to an automatic shelf registration statement on Form F-3 filed with the United States Securities and Exchange Commission (the “SEC”) and is available on the SEC’s website at http://www.sec.gov. The ADS offering has been made only by means of a prospectus supplement and an accompanying prospectus included in the Form F-3. The Form F-3 and the prospectus supplement are available on the SEC’s website at http://www.sec.gov.  The final prospectus supplement has been filed with the SEC and is available on the SEC’s website at: http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus may be obtained by contacting Deutsche Bank AG, Hong Kong Branch, Level 60, International Commerce Centre, 1 Austin Road West, Kowloon, Hong Kong; China International Capital Corporation Hong Kong Securities Limited 29/F, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong; or, US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, NY 10022, United States of America.

    This announcement shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About UP Fintech Holding Limited

    UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses.

    For more information on the Company, please visit: https://ir.itigerup.com.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “might,” “aim,” “likely to,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements or expressions. Among other statements, the business outlook and quotations from management in this announcement, the Company’s strategic and operational plans and expectations regarding growth and expansion of its business lines, and the Company’s plans for future financing of its business contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including the earnings conference call. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s ability to effectively implement its growth strategies; trends and competition in global financial markets; changes in the Company’s revenues and certain cost or expense accounting policies; and governmental policies and regulations affecting the Company’s industry and general economic conditions in China, Singapore and other countries. Further information regarding these and other risks is included in the Company’s filings with the SEC, including the Company’s annual report on Form 20-F filed with the SEC on April 22, 2024. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. Further information regarding these and other risks is included in the Company’s filings with the SEC.

    For investor and media inquiries please contact:

    Investor Relations Contact
    UP Fintech Holding Limited
    Email: ir@itiger.com

    The MIL Network –

  • MIL-OSI Asia-Pac: Key Decisions by Central Empowered Committee to strengthen Gram Panchayats across the country

    Source: Government of India (2)

    Key Decisions by Central Empowered Committee to strengthen Gram Panchayats across the country

    Standardized Honorarium, Training in Smart Classrooms, New Panchayat Buildings to improve Service Delivery at the Grassroots

    Posted On: 29 OCT 2024 12:10PM by PIB Delhi

    In a bid to further enhance the effectiveness of grassroots governance across the country, the Central Empowered Committee (CEC) of the Revamped, Centrally Sponsored Scheme of Rashtriya Gram Swaraj Abhiyan (RGSA), in its 8th meeting under the Chairmanship of Secretary, Ministry of Panchayati Raj (MoPR) Mr. Vivek Bharadwaj, made several significant decisions. The major decisions taken include Adoption of Standardized Honorarium under RGSA, Long term Domestic Training of Panchayat officials, Training of elected representatives in Smart Classrooms, Investment in Gram Panchayat Infrastructure throughout the country with special focus on North Eastern States and UT of Jammu and Kashmir.

    Adoption of Standardized Honorarium System under RGSA

    The CEC approved the standardization of honorarium rates for Master Trainers, Guest Faculties, and Eminent Resource Persons across States/UTs. This decision ensures equitable compensation, fostering the availability of high-quality trainers, which is critical for improving training delivery at the grassroots level. By addressing disparities in honorarium, the decision sets a new benchmark for training consistency and capacity building across Panchayati Raj Institutions (PRIs). This decision marks a crucial step towards ensuring uniformity and quality in training delivery across the country, from larger States like Uttar Pradesh and Maharashtra to smaller ones like Sikkim and Goa. This is particularly important for States like Bihar, Gujarat, Punjab and West Bengal, which are scaling up their training initiatives. By standardizing rates, the Ministry aims to attract and retain high-quality Trainers and Resource Persons, which is essential for effective capacity building of Panchayati Raj Institutions (PRIs) in every State.

    States/UTs to sponsor Panchayat Officials for Long-Term Domestic Training Programs for higher Learning

    “Funding for Long-Term Domestic Training Programs” for up to one year of duration for officials of PRIs and Panchayati Raj Department in the States/UTs under the State component of RGSA has been given a go ahead. The move aims at ensuring that the officials receive advanced, sector-specific training from Institutes of Excellence which will upgrade their skill set for better service delivery at the grassroots. This aligns with the objective of RGSA to strengthen decentralized governance and improved implementation efficiency. It will boost the overall competency of officials involved in rural development and local self-governance, thereby improving grassroots planning. It will also result in extensive Human Capital formation in PRIs over a period of few years.

    The decision addresses the critical need for in-depth skill upgradation of PRI functionaries across all participating States. By including subjects like spatial planning, resource mobilization, and disaster management, the program aims to equip officials with comprehensive knowledge essential for rural development in diverse geographical contexts, from the coastal regions of Kerala to the mountainous terrains of Himachal Pradesh. All the States and UTs will benefit from this decision as the North East (NE) and Hilly States can sponsor 10 candidates each for higher learning, UTs and Goa up to 5 applicants each while other States can sponsor up to 20 candidates each.

    Boost to Panchayat Infrastructure

    To enhance infrastructure, the CEC approved, construction of 3,301 Gram Panchayat Bhawans with Common Service Centre (CSC) co-location and sanctioned 22,164 computers for Gram Panchayats across various States including Andhra Pradesh, Chhattisgarh, Punjab, and Telangana. This decision is a boost for Panchayati Raj system in these States as it directly addresses infrastructure gaps, enabling better administrative functioning and digital governance in rural areas. The provision of dedicated buildings and computer equipment will facilitate efficient record-keeping and e-governance, significantly enhancing local government operations and service delivery.

    Elected Representatives of Panchayats to be trained in Smart Classrooms

    In a bid to modernize the Panchayat Resource Centers at the State and District level across the country, computer labs in State Panchayat Resource Centers (SPRCs) in 25 States as well as in District Panchayat Resource Centers (DPRCs) in 395 Districts will be upgraded with more computers of latest specification. At the same time, approval has been given for installing technological Educational Aids in these SPRCs and DPRCs across States/UTs. This decision for upgrading the State and District Panchayat Resource Centers (SPRCs/ DPRCs) in States like Gujarat and Tamil Nadu will modernize training infrastructure, creating a conducive learning environment. By integrating digital tools including projectors, LCDs, interactive panels and PA systems, the training centers will be better equipped to deliver high-quality capacity-building programs. This move is expected to accelerate the adoption of digital learning and improve the training outreach to Panchayat functionaries across India.

    Investment in Panchayat Infrastructure in the Vibrant Villages of the Border Areas of North East and Jammu and Kashmir

    Over a period of last few years, a number of decisions to support the infrastructure development for PRIs in the North Eastern States and the UT of Jammu and Kashmir have been taken. In the past years, the Ministry has supported construction of Panchayat Bhawans as well as setting up of Common Service Centres for ease of the residents in these areas. In J&K, the Ministry has supported construction of 970 GP Bhawans and co-location of 1606 Common Service Centres during 2024-25.

    In this meeting, decision has been taken for the construction of 400 Panchayat Bhawans-cum-Common Service Centers in Arunachal Pradesh. This is in continuation of MoPR’s support in the past for 939 GP Bhawans with collocated CSCs. Similarly, Panchayat infrastructure has been supported for the other States of North East including Mizoram, Meghalaya, Nagaland, Assam, Manipur. Overall, 1633 Gram Panchayat Bhawans and 514 CSCs have been approved for the States of North East.

    These initiatives aim at enhancing administrative efficiency and provide essential services at the grassroots level, significantly contributing to the development of Vibrant Villages.

    ****

    AA

    (Release ID: 2069112) Visitor Counter : 61

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: HKSAR Government strongly opposes US’s restriction on investment in China including Hong Kong

    Source: Hong Kong Government special administrative region

    HKSAR Government strongly opposes US’s restriction on investment in China including Hong Kong
    HKSAR Government strongly opposes US’s restriction on investment in China including Hong Kong
    ******************************************************************************************

         In response to the United States (US)’s measure restricting investment in China including the Hong Kong Special Administrative Region (HKSAR) on semiconductors and microelectronics, quantum information technologies, and artificial intelligence systems, a spokesman for the HKSAR Government today (October 29) expressed strong objection to the US for intentionally targeting China and the HKSAR using various excuses out of political interests, causing damage to normal trade and investment activities as well as severely undermining the principles of a free market and economic order. The US will ultimately reap the consequences, in particular the impact on the trade surplus it has realised in bilateral trade with Hong Kong throughout the years.     The spokesman said, “In 2023, the US was the third-largest trading partner of Hong Kong, with the total merchandise trade value amounting to HK$472.2 billion (US$60.3 billion). Meanwhile, Hong Kong is the US’s 27th largest trading partner. As at end 2022, the US ranked sixth in inward direct investment (IDI) into Hong Kong, with an IDI stock of HK$351.4 billion (US$45 billion). It ranked eighth in outward direct investment (ODI) from Hong Kong, with an ODI stock of HK$164.2 billion (US$21 billion). Furthermore, the US has realised a trade surplus of US$271.5 billion with Hong Kong during the past 10 years, the largest among its global trading partners. These figures demonstrate the close economic interaction between Hong Kong and the US, as well as the vast business interests of US businesses in Hong Kong.     “The US politicians once again have shown that they have acted out of their own political interests, causing damage to normal trade and investment, the free market and economic order. The so-called restriction not only cause damage to normal business activities between Hong Kong and the US, but also affect the stability of the global supply chain. Such restriction, which also harm US enterprises as well as their business interests and adversely impact bilateral economic activities, was politically driven and in nobody’s interest. The HKSAR Government would work with our country to safeguard our national interests and protect the interests of Hong Kong enterprises,” the spokesman stressed.

     
    Ends/Tuesday, October 29, 2024Issued at HKT 18:43

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Announcement on Open Market Business No.7 [2024]

    Source: Peoples Bank of China

    Announcement on Open Market Business No.7 [2024]

    (Open Market Operations Office, October 28, 2024)

    To keep liquidity in the banking system adequate at a reasonable level and to further enrich the monetary policy toolkit of the central bank, the People’s Bank of China (PBOC) decided to use the instrument of outright reverse repo operations on the open market as of today. Open to primary dealers of open market operations, it is to be conducted on a monthly basis in principle with a tenor of not more than one year. The operations adopt variable-rate tender with a fixed quantity and multi-price auction, trading central government bonds, local government bonds, financial bonds and unsecured corporate bonds. The result of operations will be released under relevant columns on the PBOC official website.

    The notice is hereby released. 

    Date of last update Nov. 29 2018

    2024年10月28日

    MIL OSI China News –

  • MIL-OSI China: Announcement on Open Market Operations No.213 [2024]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.213 [2024]

    (Open Market Operations Office, October 29, 2024)

    In order to keep liquidity adequate at a reasonable level in the banking system at month-end, the People’s Bank of China conducted reverse repo operations in the amount of RMB382.8 billion through quantity bidding at a fixed interest rate on October 29, 2024.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB382.8 billion

    1.50%

    Date of last update Nov. 29 2018

    2024年10月29日

    MIL OSI China News –

  • MIL-OSI Russia: There will be no problems with payments – banks of China and Vietnam will open branches in Russia

    Translation. Region: Russian Federation –

    Source: Mainfin Bank –

    Why do Chinese banks want to work in Russia?

    The desire of foreign banks from countries conducting trade and economic activities with Russian partners to open structural divisions in the Russian Federation is explained by a number of reasons:

    the risk of secondary sanctions for working with individuals subject to restrictions in China and other countries; blocking sanctions imposed on most domestic financial institutions; difficulties with international payments – Chinese banks are increasingly refusing to make payments to Russians.

    In fact, the volume of trade between Russia and China continues to increase, but it is becoming increasingly difficult for the parties to conduct settlement operations. Opening offices of Chinese banks in the Russian Federation would solve the problem that has arisen due to the pressure of sanctions.

    What operations are available to foreign banks in Russia?

    Pursuit banks from China and Vietnam to open offices on Russian territory is also connected with the approval in 2024 of a bill allowing foreign credit institutions to operate in the Russian Federation. Thus, the document allows foreign banks after opening a branch:

    provide banking services to businesses; make payments and transfers between legal entities; collect cash and other payment documents; open accounts for entrepreneurs.

    “Small banks from China and Vietnam are ready to come to Russia and start working – the signals are coming against the backdrop of the development of economic relations: companies want to ensure settlements in international trade,” the State Duma stated.

    Uninterrupted payments are one of the development areas agreed upon by Beijing and Moscow: the parties previously agreed to develop the settlement infrastructure, including by opening offices and divisions of credit institutions.

    13:10 10/29/2024

    Source:

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://mainfin.ru/news/problems-with-payments-there will be-no-banks-of-China-and-Vietnam-will-open-branches-in-Russia

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: CE to attend Shanghai expo

    Source: Hong Kong Information Services

    Chief Executive John Lee will lead a Hong Kong Special Administrative Region Government delegation to visit Shanghai on November 4 and attend the seventh China International Import Expo (CIIE).
       
    Apart from attending the opening ceremony of the CIIE and the Hongqiao International Economic Forum, Mr Lee plans to tour the booths of Hong Kong enterprises at the Hong Kong exhibition area on November 5.
     
    The Hong Kong SAR Government and the Hong Kong Trade Development Council will hold the 2024 Hong Kong Investment Promotion Conference – Shanghai Forum during the CIIE.
     
    Mr Lee and Financial Secretary Paul Chan, who is scheduled to join the delegation for the trip, will deliver speeches at the conference to promote Hong Kong’s advantages and its role as a connecting platform under the national dual circulation strategy to Mainland and overseas enterprises.
     
    “The CIIE is an important economic diplomatic event held after the victorious conclusion of the Third Plenary Session of the 20th Central Committee of the Communist Party of China, providing vast business opportunities for Hong Kong enterprises to tap into the domestic market,” Mr Lee said.
     
    “Hong Kong has always actively participated in and supported the CIIE. In addition to senior government officials attending, over 300 Hong Kong enterprises are taking part in the exposition this year, jointly promoting Hong Kong’s advantages and development opportunities in different areas and telling Hong Kong’s good stories,” he added.
     
    The Chief Executive will also meet leaders of Shanghai during the visit and exchange views with Hong Kong people and representatives of Hong Kong enterprises there.
          
    Mr Lee plans to return to Hong Kong on November 6. During his absence, Chief Secretary Chan Kwok-ki will be Acting Chief Executive.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Xi stresses advancing reform at study session for senior officials

    Source: People’s Republic of China – State Council News

    BEIJING, Oct. 29 — Chinese President Xi Jinping on Tuesday called for pooling strength to advance reform in a steady and sustained manner, as he addressed senior officials attending a central Party school study session.

    Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the remarks at the opening of the study session at the Party School of the CPC Central Committee (National Academy of Governance) for principal officials at the provincial and ministerial level.

    The session is themed on implementing the guiding principles of the third plenary session of the 20th CPC Central Committee, which rolled out a new package of comprehensive reforms for the country.

    MIL OSI China News –