Category: Media-OutReach

HONG KONG SAR – Media OutReach Neswire – 21 March 2025 – Hong Kong has unveiled its pioneering Low-altitude Economy (LAE) Regulatory Sandbox, marking the official start of pilot projects to promote development of the LAE with a view to creating new business opportunities, strengthening city management and bringing a new “smart city” experience to the public.

Speaking at the launch event yesterday (March 21), Chief Executive of the Hong Kong Special Administrative Region (HKSAR), John Lee, pointed out that the LAE not only gives rise to a series of industries, but also brings a very wide scope of application scenarios with a tremendous potential for development.

“The LAE is one of our nation’s strategic emerging industries, as well as an example in exploring new quality productive forces,” Mr Lee said, adding that Hong Kong is dedicated to developing into an international innovation and technology centre and an international hub for high-calibre talent.

Hong Kong launches Low-altitude Economy Regulatory Sandbox.

Among applications from 72 applicants, 38 projects will be implemented under the first batch of pilot projects to be rolled out starting from April 2025. They come from enterprises, universities/research institutes, public utilities and government departments. The projects cover a wide range of fields and application scenarios, including emergency and rescue, logistics and distribution, inspection and safety maintenance, surveillance and low-altitude infrastructure.

Secretary for Transport and Logistics of the HKSAR Government, Mable Chan, said the trial of the sandbox projects would help the Government accumulate experience and data in order to enable the Government and relevant departments to map out and devise a comprehensive infrastructure support for the execution of various LAE activities.

“We hope that with all these projects launching, we would incorporate innovation and technology into our daily lives,” Ms Chan said.

She added that the Government would introduce a special provision in the relevant legislation enabling the Director-General of Civil Aviation to allow trials of even more sophisticated and heavier low-altitude equipment, so as to facilitate trials of state-of-the-art models, including those models which can carry passengers.

Promoting Regulatory Sandbox pilot projects is a major task of the interdepartmental Working Group on Developing Low-altitude Economy set up in 2024 to boost development of the LAE.

At the launch event, a number of organisations of the pilot projects set up booths to introduce the application scenarios and features of their projects.

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HONG KONG SAR – Media OutReach Neswire – 21 March 2025 – Hong Kong has unveiled its pioneering Low-altitude Economy (LAE) Regulatory Sandbox, marking the official start of pilot projects to promote development of the LAE with a view to creating new business opportunities, strengthening city management and bringing a new “smart city” experience to the public.

Speaking at the launch event yesterday (March 21), Chief Executive of the Hong Kong Special Administrative Region (HKSAR), John Lee, pointed out that the LAE not only gives rise to a series of industries, but also brings a very wide scope of application scenarios with a tremendous potential for development.

“The LAE is one of our nation’s strategic emerging industries, as well as an example in exploring new quality productive forces,” Mr Lee said, adding that Hong Kong is dedicated to developing into an international innovation and technology centre and an international hub for high-calibre talent.

Hong Kong launches Low-altitude Economy Regulatory Sandbox.

Among applications from 72 applicants, 38 projects will be implemented under the first batch of pilot projects to be rolled out starting from April 2025. They come from enterprises, universities/research institutes, public utilities and government departments. The projects cover a wide range of fields and application scenarios, including emergency and rescue, logistics and distribution, inspection and safety maintenance, surveillance and low-altitude infrastructure.

Secretary for Transport and Logistics of the HKSAR Government, Mable Chan, said the trial of the sandbox projects would help the Government accumulate experience and data in order to enable the Government and relevant departments to map out and devise a comprehensive infrastructure support for the execution of various LAE activities.

“We hope that with all these projects launching, we would incorporate innovation and technology into our daily lives,” Ms Chan said.

She added that the Government would introduce a special provision in the relevant legislation enabling the Director-General of Civil Aviation to allow trials of even more sophisticated and heavier low-altitude equipment, so as to facilitate trials of state-of-the-art models, including those models which can carry passengers.

Promoting Regulatory Sandbox pilot projects is a major task of the interdepartmental Working Group on Developing Low-altitude Economy set up in 2024 to boost development of the LAE.

At the launch event, a number of organisations of the pilot projects set up booths to introduce the application scenarios and features of their projects.

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HONG KONG SAR – Media OutReach Neswire – 20 March 2025 – Hong Kong has maintained its World No.3 ranking in the latest Global Financial Centres Index (GFCI) after New York (No.1) and London (No.2). Hong Kong’s overall rating increased by 11 points to 760, remaining top in the Asia-Pacific region.

The biannual GFCI, published today (March 20) by the Z/Yen from the United Kingdom and the China Development Institute from Shenzhen, also rated Hong Kong No.4 globally for fintech offerings, a leap of five places compared to the previous report.

Hong Kong continues to be No. 1 in the Asia-Pacific region in the latest Global Financial Centres Index.

The Hong Kong Special Administrative Region (HKSAR) Government welcomed the report, saying the positive assessment fully recognises Hong Kong’s leading status and strengths as an international financial centre.

Among the various areas of competitiveness of the GFCI, Hong Kong rose to second place for “human capital”, “infrastructure” and “financial sector development” and third in the “business environment” and “reputational and general”.

“The ratings reflect that our continued efforts to enhance the diversity and the competitiveness of Hong Kong as an international financial centre have fully received international recognition,” said the Financial Secretary of the HKSAR, Mr Paul Chan. “I have full confidence that as long as we adhere to fundamental principles while breaking new ground, stay bold in reform, flexible in our responses and strive to seize the opportunities presented by the new era and new landscape, Hong Kong’s status as an international financial centre will surely reach new heights.”

Among financial industry sectors, the latest GFCI ranked Hong Kong first in “investment management”, “insurance” and “finance”, and third globally in “banking”.

This reflects positively on the various government initiatives, including those announced in the 2025-26 Budget, to promote development of the financial market and create more new growth areas.

Some recent strategies include enhancing the timeframe for listing application process and listing requirements for specialist technology companies, which have injected new impetus into the Hong Kong market and improved its liquidity.

To deepen the financial mutual access between the Mainland and Hong Kong, a number of measures have been implemented to enrich and support offshore Renminbi (RMB) business, such as enhancing the settlement arrangements of Bond Connect and launching offshore RMB bond repurchase business using Northbound Bond Connect bonds as collateral.

The Government has also implemented measures to promote development of asset and wealth management business over the past year, including enhancements to the Cross-boundary Wealth Management Connect Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area, Exchange-traded Fund Connect, and the Mainland-Hong Kong Mutual Recognition of Funds arrangement.

Also looking ahead, Chief Executive of the HKSAR, John Lee, in his 2024 Policy Address, proposed developing Hong Kong into becoming a gold trading centre. The Working Group on Promoting Gold Market Development will formulate a plan this year, covering measures to enhance storage facilities, optimise trading and regulatory mechanisms, expand exchange products, and conduct market promotion.

In terms of promoting fintech, the Government’s multi-pronged approach includes enhancing relevant infrastructure; building a more active fintech ecosystem; nurturing fintech talent; as well as strengthening co-operation with the Mainland and overseas. The Government will soon promulgate a second policy statement on the development of virtual assets to explore the integration of traditional finance and virtual assets.

In October 2024, the Government issued a policy statement, setting out its stance and approach towards the responsible application of Artificial Intelligence (AI) in the financial market. In addition, the Hong Kong Monetary Authority (HKMA) and Hong Kong Cyberport have launched a new Generative AI Sandbox to foster innovation in the banking industry.

The HKMA has also launched a stablecoin issuer sandbox to allow institutions with plans to issue stablecoins in Hong Kong to conduct testing on their operational plans.

The Government will continue to leverage our distinctive strengths to accelerate the cultivation of new quality productive forces and create more new growth areas, so as to sustain the high-quality development of Hong Kong’s financial market.

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HONG KONG SAR – Media OutReach Newswire – 18 March 2025 – Swiss-Belhotel International, a global hospitality management group with a diverse portfolio of over 150+ hotels in 20 countries, has been recognised with multiple prestigious industry awards in 2024 and the first quarter of 2025. These accolades highlight the group’s unwavering commitment to Passion and Professionalism, ensuring that every aspect of its operations – from guest experiences to hotel management – reflects Swiss efficiency combined with Asian hospitality and warmth.

Gavin M. Faull and Christopher Luxon, Prime Minister of New Zealand.

Gavin M. Faull, Chairman and President of Swiss-Belhotel International, expressed his gratitude for the recognitions, stating: “Receiving these distinguished awards is nothing short of extraordinary. We are incredibly proud of these achievements, which are a testament to the dedication, passion, and perseverance of our entire team. At Swiss-Belhotel International, we are deeply committed to delivering value to our owners while continuously investing in our most precious asset – our people. Our success is built on a foundation of operational excellence and exceptional guest experiences. These accolades reaffirm our strategy of sustainable growth and our ability to adapt to evolving market demands while maintaining the highest standards of hospitality. As we look ahead to 2025, we will continue to set new milestones – seizing new opportunities, enhancing our offerings, streamlining our operations, and further empowering our exceptional team.”

Among the awards received by the group are the Legacy Family Business Award Asia Pacific at the Family Business Association Excellence Awards 2024 (May 2024) and the EY Entrepreneur of The Year 2024 New Zealand Family Business Award (November 2024), both recognising the contributions of Gavin M. Faull and the Faull Family in shaping a legacy of excellence in hospitality. Additionally, Swiss-Belhotel International was awarded Hotel & Resort Management of the Year at the Travel Trade Excellence Awards 2025 by Travel Daily Media (February 2025), further reinforcing its strong market position. The group’s dedication to long-term partnerships and sustainability was acknowledged with The Most Excellence in Sustained Partnership Award at the GarudaMiles Loyalty Summit 2025 (February 2025) and the Excellence Award in the Sustainable Hospitality category from ESG Business Awards 2024 in Hong Kong (September 2024).

With 18 brands and a strong presence across 20 countries, Swiss-Belhotel International is recognised for its world-class management models, multi-brand strategy, and owner-centric approach, ensuring each property thrives in its respective market.

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