Hong Kong – SITI briefs stakeholders on Policy Address I&T initiatives (with photos)

SITI briefs stakeholders on Policy Address I&T initiatives (with photos)


     The Secretary for Innovation, Technology and Industry, Professor Sun Dong, today (November 1) briefed the innovation and technology (I&T) sector, professional bodies, academic associations and research clusters on I&T initiatives outlined in “The Chief Executive’s 2022 Policy Address”.

     Professor Sun said that the National 14th Five-Year Plan expressed clear support for Hong Kong to develop into an international I&T hub. This year’s Policy Address fully implements the National 14th Five-Year Plan’s vision in supporting Hong Kong to develop into an international I&T hub. The Government will promulgate the Hong Kong I&T Development Blueprint within this year to set out major policies under four development directions:


(i) To enhance the I&T ecosystem and achieve re-industrialisation in Hong Kong;

(ii) To enlarge the I&T talent pool to create strong impetus for growth;

(iii) To develop Hong Kong into a smart city to improve the quality of life of people; and

(iv) To proactively integrate into the overall development of the country and consolidate Hong Kong’s advantages as an international city.


     Professor Sun highlighted the launch of the $10 billion “Research, Academic and Industry Sectors One-plus Scheme” (RAISe+ Scheme), which aims to incentivise collaboration among industry, academic and research sectors to further promote the “1 to N” transformation and realisation of research and development (R&D) outcomes and industry development. Focusing on industries of strategic importance, such as life and health technology, artificial intelligence and data science, as well as advanced manufacturing and new energy technology, high-potential or representative I&T enterprises will be proactively attracted from around the globe by collaborating with the Office for Attracting Strategic Enterprises and making use of the Strategic Tech Fund and the Co-Investment Fund. The Innovation, Technology and Industry Bureau will create the post of Commissioner for Industry, and subsidises the setting up of more smart production lines in Hong Kong under the Re-industrialisation Funding Scheme, with the aim of increasing the cumulative number by four times to over 130 in five years. He also called on the participants to join hands to attract enterprises interested in expanding their businesses in Hong Kong by leveraging their Mainland and overseas connections, with a view to driving the development of the local industry.


     The Policy Address also announced the enhancement of the Technology Talent Admission Scheme by expanding the coverage to more emerging technology areas to facilitate the admission of technology talents from the advanced manufacturing industry. In addition, the Government will use the Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop as a pilot to study the trial implementation of a cross-boundary policy on I&T co-operation with Shenzhen on the basis of “one zone, two parks”.


     Professor Sun said that at the recently concluded 20th National Congress of the Communist Party of China, Secretary General Xi Jinping pointed out that the country will fully implement the strategy for invigorating China through science and education, the workforce development strategy, and the innovation-driven development strategy, with a view to improving systems for scientific and technological innovation and building world hubs for talent and innovation. Through formulation of clear development direction and strategies as well as enhanced co-ordination and planning of relevant measures, Professor Sun hoped to spearhead the promotion of I&T development at full speed to live up to the expectations of the country.


     Jointly organised by the Hong Kong Cyberport Management Company Limited, the Hong Kong Science and Technology Parks Corporation and the office of Legislative Council Member Mr Duncan Chiu, the seminar was held in person and online, as well as live-streamed in Shenzhen, Guangzhou and Foshan sub-venues.

Stakeholders Consultation Workshop on “Understanding India’s Climate Financing needs and its mobilization with focus on Green Climate Fund (GCF)” organized by Ministry of Environment, Forest & Climate Change

A stakeholder consultation workshop on “Understanding India’s Climate Financing needs and its mobilization with focus on Green Climate Fund (GCF)” was organized by Ministry of Environment, Forest and Climate Change, Government of India under the ongoing GCF Readiness Program on 24th June 2022 in New Delhi. This workshop is part of an ongoing effort to understand India’s Climate Financing needs and scale of investments needed to be mobilized to accelerate investment in climate resilient development in India.

The inaugural session of the workshop was attended by Ms. Leena Nandan, Environment Secretary, Ms Anupa Rimal Lamichhane, Regional Manager, Green Climate Fund, Ms Shoko Noda, UNDP Resident Representative. The Key Note Address was given by Shri Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance.

Ms Leena Nandan, Secretary, MoEFCC, in her address, focused on need for understanding the range of costs for meeting India’s ambitious climate actions which will indicate the scale of investments needed to be mobilized and also would help in identifying policies that will spur low carbon and resilient growth and emphasized that the role of public sources of funding would remain critical to mobilizing and leveraging private capital. She stressed on the scope, scale and speed of climate finance, which have to increase considerably to match the aspirations of an emerging economy like India. She emphasized on community level development projects which have the potential to generate green credits. Green credits generated through carbon market can also act as an effective vehicle to attract investments.

Recalling the Hon’ble Prime Minister’s statement at COP 26 “Mindful and Deliberate Utilization, instead of Mindless and Destructive Consumption”, Shri Ajay Seth, Secretary, DEA in his key note address highlighted the importance of assessing sector by sector climate finance requirements towards low carbon transition. He noted that the sectoral roadmaps to be prepared for key sectors of economy should cover the externalities and the delta for viability. While emphasising the equity and Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC) in global transition towards low carbon and climate resilient pathways, the vulnerable sectors and communities such as MSMEs, small and marginal farmers, and rural communities should be factored in for the additional premium associated with low carbon transition.

The workshop has focused on understanding India’s financial needs for climate actions with a focus on various financial instruments by its two technical sessions on Assessing India’s Financing Needs and Leveraging Climate Finance to meet the needs where dignitaries from Government of India, Private Sectors and Financial Institutions participated. The workshop thereby addressed ways of mobilizing the requisite finance at a scale to bring the much-needed shift to a transition towards the sustainable development path. The workshop stressed on the viability of financial instruments. The Workshop noted that sustainability path significantly raises the need for Finance and Human, Technological, Institutional, and Regulatory capacity. Financial resources and the said capacities grow as the country steps up the development trajectory. The workshop also addressed the experiences and success stories of Rewa Solar Power Project and attracting scalable private finance and the need for designing bankable projects sourcing.  The Line Ministries/ Departments of Government of India, Private Sector Stakeholders, Financial Institutions, GCF Accredited Entities, Executing Entities, Implementing Entities and other relevant stakeholders participated in the workshop and shared their experiences and views.

The workshop emphasized on identifying the ways to drive short-term recovery and long-term resilience; leverage investments in least-cost energy solutions, resilient and secure energy systems, efficiency and competitiveness, and social and environmental equity for a sustainable future. The GCF secretariat has also provided their expert views on facilities available under the GCF. This consultation workshop has tried to strengthen the ongoing engagement with various stakeholders including the private sector and financial institutions to ensure effective and coherent engagement.



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National Financial Reporting Authority seeks comments/suggestions from public and stakeholders on consultation paper on NFRA’s engagement with its stakeholders

National Financial Reporting Authority (NFRA) has set up a Technical Advisory Committee (TAC) to, inter alia, provide NFRA with inputs from the perspective of various key stakeholders. The TAC has undertaken a consultative exercise to review NFRAs engagement with its stakeholders, and has, in its report of March, 2021, recommended ways to enhance the same. Important recommendations of the TAC relate to formation of advisory/consulting groups, institution of fellowship programmes, publication of NFRAs Inspection Policy, and building up of NFRAs Regulatory Capacity.

NFRA acknowledges the valuable contribution of the TAC in this regard. NFRA has now prepared and published a Consultation Paper (available at https://www.nfra.gov.in/consultation_papers), incorporating its preliminary views, and proposed action plan, on the recommendations of the TAC and feels it appropriate to seek the comments/suggestions of the wider stakeholder group and the public at large on these recommendations/views/proposals. The last date for receipt of comments is 10 July 2021. The comments may be submitted by email at comments-tac.paper @nfra.gov.in.

About NFRA

National Financial Reporting Authority (NFRA) was established by the Central Government in October 2018 with the fundamental objective of driving systemic change in the Indian Financial Reporting System for Public Interest Entities (PIEs). NFRA has identified engagement with various categories of stakeholders as central in its strategy to deliver on its public interest mandate.



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Hong Kong – SFH meets with stakeholders on improving Hong Kong’s electoral system (with photos/video)

SFH meets with stakeholders on improving Hong Kong’s electoral system (with photos/video)


     ​The Secretary for Food and Health, Professor Sophia Chan, hosted four briefing sessions today (April 7) and met with stakeholders of the catering, agriculture and fisheries, Chinese medicine and health services sectors to explain the improvements to the Hong Kong Special Administrative Region’s (HKSAR) electoral system, with a view to enabling the stakeholders to better understand the matter and render their support.
      “Social stability and good governance are essential to the HKSAR Government in focusing on economic and livelihood issues and its work for the betterment of people, thereby making Hong Kong a better place to live and work in. Last week, the Standing Committee of the National People’s Congress approved the amended Annex I to the Basic Law on Method for the Selection of the Chief Executive of the Hong Kong Special Administrative Region and Annex II to the Basic Law on Method for the Formation of the Legislative Council of the Hong Kong Special Administrative Region and Its Voting Procedures with a view to improving the electoral system of the HKSAR. The amendments safeguard the constitutional order as set out by the Constitution and the Basic Law; and enhance governance of the HKSAR to assure the steadfast and successful implementation of the ‘one country, two systems’ principle,” said Professor Chan.
     Professor Chan fully supports and welcomes the work in improving the electoral system of the HKSAR and materialising the political structure that ensures the implementation of “patriots administering Hong Kong”. In the meantime, she will spare no effort in briefing stakeholders on the importance, necessity and legality of improving the city’s electoral system so as to gain their staunch support. She appeals to the general public for their unanimous support in taking forward and accomplishing the legislative work.