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hk_rthk_en.xml
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<title>
rthk - English
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<link>
https://news.rthk.hk/rthk/en/latest-news.htm
</link>
<description>
rthk - English
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<copyright>
© 香港電台 RTHK
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rthk - English
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<title>
'Give Choi Hung residents diverse housing options'
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https://news.rthk.hk/rthk/en/component/k2/1776915-20241030.htm
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<description>
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<body>
<img alt="The redeveloped Choi Hung Estate will be able to accommodate 9,200 households, up from the current 7,400. Photo: RTHK" referrerpolicy="no-referrer" src="https://images.weserv.nl/?n=-1&we&h=1080&output=webp&trim=1&url=https%3A%2F%2Fnewsstatic.rthk.hk%2Fimages%2Fmfile_1776915_1_20241030213527.jpg&q=20" style="width:100%;height:auto"/>
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A lawmaker on Wednesday said Choi Hung needs to be redeveloped but expressed concerns over how the neighbourhood would become a construction site for residents affected in later phases of the decades-long overhaul, and how people will be relocated.
<br/>
<br/>
Bill Tang, who represents the Kowloon East Constituency, made the comment after housing authorities submitted its plan for the redevelopment to be made in three phases, which wraps up in 2048.
<br/>
<br/>
"The residents living in Choi Hung must live with a construction site for over 20 years. The first building will be removed and then rebuilt and from the first building to the last building, it will be over 20 years. That means the last building will be removed maybe at the age of 80 years old," he said.
<br/>
<br/>
He said this is not ideal since there are safety risks involved with living in older buildings.
<br/>
<br/>
"Some residents, they even say that they may suffer maybe suddenly in the flat there's a little bit of [cement] falling down. We all know that only with redevelopment [can the problem be solved]."
<br/>
<br/>
Tang expressed the hope that authorities will offer a diverse range of housing options for affected residents.
<br/>
<br/>
"The residents who live in the first phase… they know they need to move out, but they really want to stay in Choi Hung. We suggest there should be diverse options for the phase one residents," he said.
<br/>
<br/>
"Not only invite them to live in new Mei Tung Estate or live in the Home Ownership Scheme housing, but at the same time, if there are some empty Choi Hung flats here in phase two or phase three."
<br/>
<br/>
The lawmaker also noted that volunteers will need to be recruited to assist elderly families that will have to relocate.
<br/>
<br/>
Choi Hung resident Tsang said he will be relocating to Mei Tung Estate.
<br/>
<br/>
"I'm somewhat satisfied but transportation is not as convenient as Choi Hung. You have to walk quite a bit either to Lok Fu or Wong Tai Sin Station – but what can you do? It's better than nothing and we have a place to settle down," he said.
<br/>
<br/>
Fellow resident Pang said he will be closing his small shop of 20 years in Choi Hung Estate soon.
<br/>
<br/>
"It's hard to maintain a small shop in a public housing estate, especially with everyone shopping up north. The spending patterns have changed significantly and the ageing population is increasing," he said.
<br/>
<br/>
A woman surnamed Fan meanwhile, said she hopes that authorities could keep some elements of Choi Hung Estate, as they bring good memories to many people.
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<p>
原始網址 Original URL：
<a href="https://news.rthk.hk/rthk/en/component/k2/1776915-20241030.htm" rel="nofollow">
https://news.rthk.hk/rthk/en/component/k2/1776915-20241030.htm
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</p>
<p>
© rthk.hk
</p>
<p>
電子郵件 Email:
<a href="mailto:cnews@rthk.hk" rel="nofollow">
cnews@rthk.hk
</a>
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Wed, 30 Oct 2024 22:23:00 +0800
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<item>
<title>
BYD beats Tesla in quarterly revenue for 1st time
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<link>
https://news.rthk.hk/rthk/en/component/k2/1776912-20241030.htm
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<description>
<![CDATA[<html>
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<img alt="A BYD YangWang U8 is displayed at the 2024 Paris Auto Show. File photo: Reuters" referrerpolicy="no-referrer" src="https://images.weserv.nl/?n=-1&we&h=1080&output=webp&trim=1&url=https%3A%2F%2Fnewsstatic.rthk.hk%2Fimages%2Fmfile_1776912_1_20241030211618.jpg&q=65" style="width:100%;height:auto"/>
<br/>
<div class="itemFullText">
Electric vehicle giant BYD reported surging sales on Wednesday, surpassing global rival Tesla in quarterly revenue for the first time as its push into overseas markets advances.
<br/>
<br/>
The EV and battery giant is a leading player in recent efforts by Chinese automotive firms to expand overseas.
<br/>
<br/>
BYD posted operating revenue of 201.1 billion yuan, or US$28.2 billion, during the third quarter, a filing at the Hong Kong Stock Exchange showed, up 24 percent from the same period last year.
<br/>
<br/>
The Shenzhen-based firm's quarterly revenue figure for the first time exceeded that of American EV powerhouse Tesla, which last week posted US$25.2 billion in third-quarter revenue.
<br/>
<br/>
The firm's net profit during the period came in at 11.6 billion yuan, the filing showed, up 11.5 percent from the third quarter last year.
<br/>
<br/>
BYD – which adopts the English slogan "Build Your Dreams" – is the most prominent EV manufacturer in China, the world's largest automotive market.
<br/>
<br/>
Originally specialising in the design and production of batteries, BYD diversified into the automotive industry in 2003. (AFP)
</div>
<br/>
<hr/>
<p>
原始網址 Original URL：
<a href="https://news.rthk.hk/rthk/en/component/k2/1776912-20241030.htm" rel="nofollow">
https://news.rthk.hk/rthk/en/component/k2/1776912-20241030.htm
</a>
</p>
<p>
© rthk.hk
</p>
<p>
電子郵件 Email:
<a href="mailto:cnews@rthk.hk" rel="nofollow">
cnews@rthk.hk
</a>
</p>
</body>
</html>]]>
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Wed, 30 Oct 2024 21:16:00 +0800
</pubDate>
</item>
<item>
<title>
Choi Hung Estate to be redeveloped in three phases
</title>
<link>
https://news.rthk.hk/rthk/en/component/k2/1776877-20241030.htm
</link>
<description>
<![CDATA[<html>
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<img alt="" referrerpolicy="no-referrer" src="https://images.weserv.nl/?n=-1&we&h=1080&output=webp&trim=1&url=https%3A%2F%2Fnewsstatic.rthk.hk%2Fimages%2Fmfile_1776877_1_20241030171126.jpg&q=45" style="width:100%;height:auto"/>
<br/>
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Choi Hung Estate will be redeveloped in three phases, with the first batch of affected residents set to be relocated in about four years’ time, according to a paper submitted by housing authorities on Wednesday.
<br/>
<br/>
The redevelopment plan’s timeline for the estate built in the 1960s and famous for its rainbow colour theme was unveiled in a paper submitted to the Wong Tai Sin District Council, in which the Housing Department said the first phase would involve three blocks – Pik Hoi House, Kam Pik House and Tan Fung House – as well as two vacant school sites.
<br/>
<br/>
"The new Mei Tung Estate, which is expected to start taking in residents in 2028-29, will provide 2,450 units for the first phase of relocation, accommodating about one-third of the affected Choi Hung Estate residents," the paper said.
<br/>
<br/>
After the area in the first phase is cleared out, construction will begin immediately and it will be able to provide about 3,200 units to residents of four blocks affected by the second stage of redevelopment, expected to take place from 2035-36.
<br/>
<br/>
The area involved in the second phase will then be able to take care of the last batch of households. These residents will move into some 4,100 newly built units between 2042 and 2043.
<br/>
<br/>
The relocation process would take roughly 15 years, the department added, and by 2048, the last phase of the estate is expected to be redeveloped to offer 1,900 flats.
<br/>
<br/>
In total, the new Choi Hung Estate will be able to accommodate 9,200 households, up from the current 7,400.
<br/>
<br/>
Officials said the redevelopment would also provide an opportunity to improve traffic conditions at the Choi Hung Interchange.
<br/>
<br/>
“The Housing Authority has begun discussions with relevant departments to free up part of the Choi Hung Estate site to alleviate traffic congestion in the area,” the paper said.
</div>
<br/>
<hr/>
<p>
原始網址 Original URL：
<a href="https://news.rthk.hk/rthk/en/component/k2/1776877-20241030.htm" rel="nofollow">
https://news.rthk.hk/rthk/en/component/k2/1776877-20241030.htm
</a>
</p>
<p>
© rthk.hk
</p>
<p>
電子郵件 Email:
<a href="mailto:cnews@rthk.hk" rel="nofollow">
cnews@rthk.hk
</a>
</p>
</body>
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Wed, 30 Oct 2024 17:52:00 +0800
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</item>
<item>
<title>
Shenzhou-19 astronauts enter space station
</title>
<link>
https://news.rthk.hk/rthk/en/component/k2/1776886-20241030.htm
</link>
<description>
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The three astronauts of the Shenzhou-19 spaceflight mission have entered the Tiangong space station and met with three others, starting a new round of in-orbit crew handover.
<br/>
<br/>
The Shenzhou-18 crew opened the hatch at 12.51pm on Wednesday (Beijing time) and greeted the new arrivals, according to the China Manned Space Agency.
<br/>
<br/>
The six crew members then took group pictures for the fifth space get-together in China's aerospace history. They will live and work together for about five days to complete planned tasks and handover work.
<br/>
<br/>
The Shenzhou-19 astronauts – Cai Xuzhe, Song Lingdong and Wang Haoze – will stay at the Tiangong space station for approximately six months and conduct a series of experiments.
<br/>
<br/>
The Shenzhou-19 blasted off early Wednesday morning atop a Long March-2F rocket.
<br/>
<br/>
China declared the launch a "complete success".
<br/>
<br/>
The Shenzhou-18 crew, meanwhile, is set to return to Earth on Monday. (Reporting by Xinhua)
</div>
<br/>
<hr/>
<p>
原始網址 Original URL：
<a href="https://news.rthk.hk/rthk/en/component/k2/1776886-20241030.htm" rel="nofollow">
https://news.rthk.hk/rthk/en/component/k2/1776886-20241030.htm
</a>
</p>
<p>
© rthk.hk
</p>
<p>
電子郵件 Email:
<a href="mailto:cnews@rthk.hk" rel="nofollow">
cnews@rthk.hk
</a>
</p>
</body>
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Wed, 30 Oct 2024 17:36:00 +0800
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<title>
'Blood glucose levels vital in preventing cancers'
</title>
<link>
https://news.rthk.hk/rthk/en/component/k2/1776880-20241030.htm
</link>
<description>
<![CDATA[<html>
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<img alt="HKU researchers say that those with diabetes are twice as likely to get colorectal and liver cancers compared to healthy people. Photo: RTHK" referrerpolicy="no-referrer" src="https://images.weserv.nl/?n=-1&we&h=1080&output=webp&trim=1&url=https%3A%2F%2Fnewsstatic.rthk.hk%2Fimages%2Fmfile_1776880_1_20241030171554.jpg&q=85" style="width:100%;height:auto"/>
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The University of Hong Kong on Wednesday said diabetes patients can lower the risk of getting colorectal and liver cancers, the second and fifth most common in the SAR, by controlling their blood glucose levels.
<br/>
<br/>
The Faculty of Medicine conducted two territory-wide analyses using 17 years of Hospital Authority data involving 140,000 diabetes patients.
<br/>
<br/>
It found that by controlling blood glucose levels, such patients can lower the chances of getting colorectal cancer by 28 percent, and liver cancer by 30 percent.
<br/>
<br/>
"Cancer cells, when they have a lot of sugar around them, they are able to grow faster. This is in essence the way which patients with diabetes, if it is poorly controlled, they will have an increase risk of both bowel cancer and liver cancer," explained the university's Dr Walter Seto, who led the project.
<br/>
<br/>
Speaking at a media briefing, Seto added that those with diabetes are twice as likely to get these cancers compared with healthy individuals.
<br/>
<br/>
Meanwhile, Dr Paul Lee, who specialises in endocrinology and diabetes, told RTHK that patients can improve their blood glucose levels through a good diet and more exercise.
</div>
<br/>
<hr/>
<p>
原始網址 Original URL：
<a href="https://news.rthk.hk/rthk/en/component/k2/1776880-20241030.htm" rel="nofollow">
https://news.rthk.hk/rthk/en/component/k2/1776880-20241030.htm
</a>
</p>
<p>
© rthk.hk
</p>
<p>
電子郵件 Email:
<a href="mailto:cnews@rthk.hk" rel="nofollow">
cnews@rthk.hk
</a>
</p>
</body>
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</description>
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Wed, 30 Oct 2024 17:15:00 +0800
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<item>
<title>
'Sports arbitration system to settle disputes quickly'
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<img alt="A veteran arbitrator says a new sports arbitration resolution mechanism will help resolve disputes such as the Messi no-show saga more quickly. File photo: RTHK" referrerpolicy="no-referrer" src="https://images.weserv.nl/?n=-1&we&h=1080&output=webp&trim=1&url=https%3A%2F%2Fnewsstatic.rthk.hk%2Fimages%2Fmfile_1776876_1_20241030170539.jpg&q=75" style="width:100%;height:auto"/>
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A legal expert on Wednesday said the government's plan to establish a new sports arbitration resolution mechanism will help resolve issues such as the Messi no-show saga more quickly and amicably.
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Thousands of fans were left angry and disappointed after Argentinian superstar Lionel Messi sat out an Inter Miami football match in the SAR back in February, triggering complaints and calls for ticket refunds.
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Nicholas Chan, who heads the AALCO Hong Kong Regional Arbitration Centre, said such situations could be eased with the new mechanism in place.
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"In Hong Kong, we don't have class action for litigation. And even if we had class action, it's not cheap for thousands of ticket holders to launch a dispute," he told RTHK.
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"We could resolve everything quickly by mediation, if not by arbitration. So it saves all the parties the headache of having to try to find the proper forum for dispute, spend a lot of money on resolving disputes by going to courts or otherwise."
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International sports arbitration is dominated by Western countries, with the Court of Arbitration for Sport in Switzerland a prominent example.
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"But the official working language is French, Spanish, or English. You don't really have much of a choice to use Chinese, Malay, Arabic, or other languages very common in the developing world. So it is not ideal to spend a lot of time and cost where it could be resolved more cost-effectively," Chan said.
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The plan is also seen as an opportunity for retired athletes to pursue a second career in sports mediation and arbitration, Chan added.
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Wed, 30 Oct 2024 17:12:00 +0800
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<title>
'Debut of Saudi ETFs tracking HK shares a milestone'
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Financial Secretary Paul Chan on Wednesday said the debut of Saudi Arabia's first exchange-traded funds (ETFs) that track Hong Kong-listed equities will strengthen cooperation between the two places.
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Chan's remark came as trading of such ETFs began on the Saudi stock exchange.
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Issuer Albilad Capital and its partner CSOP Asset Management said the trading of the product raised more than US$1.2 billion at the start.
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Speaking to reporters in Riyadh after the listing ceremony, Chan said the ETFs open doors for Middle Eastern investors to capital markets beyond the SAR.
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"Middle Eastern investors can gain easy access to our Hong Kong markets. However, this investment extends beyond just Hong Kong. As you know, more than 70 percent of the market value of listed companies in Hong Kong comes from the mainland. Therefore, investing in the Hong Kong market is equivalent to investing in key sectors of the mainland," he said.
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Asia's first ETF covering Saudi Arabian stocks made its debut on the Hong Kong Stock Exchange last November. (Additional reporting by Reuters)
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HKEX to open Riyadh office in 2025
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Hong Kong’s stock market operator on Wednesday said it will open an office in Riyadh next year, boosting its global coverage.
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The Hong Kong Exchanges and Clearing (HKEX) said the new office in the Saudi Arabian capital would help investors in the Middle East better access financial products and capital markets in the SAR.
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Its CEO Bonnie Chan pointed out that the Riyadh branch will join HKEX’s other offices in Beijing, Shanghai, London, New York, and Singapore.
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“The new Riyadh office will enable us to foster greater global coverage and facilitate access for Middle East clients to Asia’s most international, diverse and liquid capital markets in Hong Kong."
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The announcement came as the trading of Saudi Arabia’s first exchange-traded fund that tracks Hong Kong-listed shares kicked off.
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Wed, 30 Oct 2024 16:13:00 +0800
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'More than 5k people have visited fossil display'
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<img alt="The government says a team of experts are carrying out excavation work on Port Island. Photo courtesy of the Development Bureau" referrerpolicy="no-referrer" src="https://images.weserv.nl/?n=-1&we&h=1080&output=webp&trim=1&url=https%3A%2F%2Fnewsstatic.rthk.hk%2Fimages%2Fmfile_1776845_1_20241030145731.jpg&q=5" style="width:100%;height:auto"/>
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The Development Bureau on Wednesday said about 5,600 people have visited an exhibition showcasing the first-ever dinosaur fossils found on home soil.
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Writing on social media, it said the people who were trying to catch a glimpse of the bones displayed at the Heritage Discovery Centre at Kowloon Park included students and tourists.
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It added that temporary studios and showrooms at the centre will open by the end of the year, and visitors would even be able to watch paleontologists prepare fossils.
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The bureau also said that mainland and local experts are still carrying out excavation work on Port Island, where the fossils were found.
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It pointed out that the team had to carry generators and excavation tools to the island, in the northeastern waters of the SAR, as there is no electricity supply.
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Authorities added that apart from collaborating with mainland experts from the Institute of Vertebrate Paleontology and Paleoanthropology, they are also contacting local experts for future research and education endeavours.
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Wed, 30 Oct 2024 15:44:00 +0800
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HK newborns to get mainland entry permits on the spot
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The mainland is set to issue one-off permits to allow Hong Kong newborns to travel there, according to DAB chairman Gary Chan.
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Chan said on Wednesday that DAB lawmakers have received calls for help from parents saying they had hoped to travel across the border with their newborns, but applications for temporary mainland travel permits take at least five working days to process.
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In a letter to Chan, national immigration officials said parents of Hong Kong-born babies "with urgent need to travel to the mainland" can get a one-off permit at Luohu, Huanggang, Shekou or Shenzhen airport.
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Parents will be required to provide their newborn's identity document and birth certificate for the permit valid for one return trip between Hong Kong and the mainland within a three-month period.
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"As long as the parents need a permit, they can bring the relevant documents to the four border crossings to apply for a document and collect it on the spot. It is more convenient and quicker than before, and can meet the needs of parents with newborns," Chan said, adding that he hoped the new arrangement could be extended to other border control points.
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Wed, 30 Oct 2024 15:31:00 +0800
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<title>
Welfare officials see drop in domestic violence cases
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<img alt="The Social Welfare Department handled fewer domestic violence cases last year than they did in 2019. File photo: RTHK" referrerpolicy="no-referrer" src="https://images.weserv.nl/?n=-1&we&h=1080&output=webp&trim=1&url=https%3A%2F%2Fnewsstatic.rthk.hk%2Fimages%2Fmfile_1776847_1_20241030150052.jpg&q=85" style="width:100%;height:auto"/>
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The government on Wednesday said the number of domestic violence cases handled by social welfare officials has fallen in recent years, but there's been a rise in the number of children in need of protection.
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In a written reply to lawmakers, welfare minister Chris Sun said that overall, domestic violence cases dropped by 13.5 percent from 2019 figures, to nearly 3,400 last year.
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But child protection cases rose by 45 percent in the same period, to more than 1,450.
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These cases were referred to the Social Welfare Department for follow-up action after reports were filed to the police.
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Sun said for cases considered to be high risk by police officers, the department makes a crisis intervention and provides a wide range of support, including psychological help, as well as centres for family crisis support, refuges and residential and daily child care.
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He added that some people who refuse help are given a card with the details of other places they can seek assistance.
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There are promotional campaigns from the department and the police encouraging people to seek help early and avoid resorting to violence, the minister said.
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Wed, 30 Oct 2024 15:15:00 +0800
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<title>
Beijing opposes planned US tech investment curbs
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<img alt='The Ministry of Commerce says new rules set out by Washington will "damage the interests" of firms in both China and the United States. File photo: Xinhua' referrerpolicy="no-referrer" src="https://images.weserv.nl/?n=-1&we&h=1080&output=webp&trim=1&url=https%3A%2F%2Fnewsstatic.rthk.hk%2Fimages%2Fmfile_1776851_1_20241030151549.jpg&q=60" style="width:100%;height:auto"/>
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Mainland authorities on Wednesday said they firmly opposed new rules announced by the US Treasury that will prohibit US-headquartered firms, citizens, and permanent residents from engaging in transactions involving cutting-edge technology with China.
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The restrictions will take effect on January 2, targeting investments in the fields of semiconductors, artificial intelligence and quantum computing.
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"China firmly opposes the United States issuing final rules on investment restrictions on China and has lodged stern representations with the United States," a spokesperson for the Ministry of Commerce said in a statement on Wednesday.
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"The United States has generalised the concept of national security," the statement said, calling the restrictions a "typical non-market practice".
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The rules will "damage the interests" of firms in both China and the United States, the statement warned.
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China "reserves the right to take measures", it added.
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US Treasury assistant secretary for investment security Paul Rosen had said in a statement that the areas targeted by the latest US curbs "are fundamental to the development of the next generation of military, surveillance, intelligence and certain cybersecurity applications".
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Investors will also be required under the rules to inform authorities about investments in some less advanced technologies that could threaten US national security, the department added. (AFP)
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<title>
New offence planned to tackle abandoned cars
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<img alt="The government says current legislation lets owners abandon unwanted vehicles on roads and in public spaces. File photo: RTHK" referrerpolicy="no-referrer" src="https://images.weserv.nl/?n=-1&we&h=1080&output=webp&trim=1&url=https%3A%2F%2Fnewsstatic.rthk.hk%2Fimages%2Fmfile_1776816_1_20241030120311.jpg&q=75" style="width:100%;height:auto"/>
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Transport officials say they have come up with a way to help stop people dumping cars they no longer want in alleys and at the side of roads, by plugging a loophole that lets owners off the hook if they stop renewing a vehicle's licence.
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At present, a vehicle's registration is automatically cancelled if it hasn't had a valid licence for two years. The person whose name the vehicle is registered under can then no longer be held liable for anything related to it.
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"Some irresponsible owners take advantage of this arrangement and abandon their unwanted vehicles on public roads and public back alleys, causing environmental hygiene and congestion issues," the Transport and Logistics Bureau says in a paper to Legco.
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To address the matter, the bureau is proposing an amendment to road traffic regulations which would scrap the automatic cancelling of a vehicle's registration and instead enable officials to send owners a notice after two years, giving them three months to either renew their licence or take action to de-register the vehicle themselves.
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Options for de-registration include having the vehicle scrapped, or shipping it out of Hong Kong.
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The bureau is proposing fines of up to HK$10,000 and prison terms of up to three months for people who ignore the notices, with a subsequent conviction for the same offence leading to fines of up to HK$25,000 and jail terms as long as six months.
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If the fines go unpaid, the authorities would refuse to issue or renew the offender's driving licence or to license any vehicle in their name.
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The bureau said a commencement date for the proposed new offence is expected to be fixed by notice in the Gazette in the fourth quarter of next year.
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Wesley Wan, honorary life president of the Hong Kong Automobile Association, told RTHK he welcomes the proposed changes, saying they could put a stop to vehicles being dumped.
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"They will impose a penalty which is more expensive than scrapping the car. So I think that's a good way to avoid people abandoning a car after the licence expires," he said.
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Lawmaker Gary Zhang said he thinks there should be exemptions in some cases.
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"If a situation doesn't really involve illegal abandonment, for example, some car owners may simply not renew their registration due to personal reasons, or they don't plan to drive any more, or just park in their garage, I think the government shouldn't interfere too much," he said.
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Wed, 30 Oct 2024 13:50:00 +0800
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Yankees beat Dodgers to avoid World Series sweep
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Anthony Volpe smashed a grand slam as the New York Yankees avoided being swept in the World Series on Tuesday with an 11-4 victory over the Los Angeles Dodgers.
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Volpe's third-inning home run gave the Yankees a 5-2 edge, their first lead since game one, and later homers by Gleyber Torres and Austin Wells sparked New York's rout.
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The Yankees pulled within 3-1 in the best-of seven Major League Baseball championship showdown with game five on Wednesday at Yankee Stadium.
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No team has ever recovered from a 3-0 deficit to win the World Series, but the Yankees became the first team in 54 years to force a fifth game when down 0-3.
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New York denied the Dodgers an eighth World Series title and first since 2020 while keeping alive hopes of the Yankees winning their first crown since 2009 and 28th overall.
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It was a record-shattering night for Los Angeles first baseman Freddie Freeman, who smashed a two-run homer in the first inning to become the first player with homers in the first four games of a World Series.
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Freeman, who blasted a walk-off grand slam to win game one, also moved past George Springer to set a record with homers in six consecutive World Series contests, counting the last two games from his 2021 title run with Atlanta. (AFP)
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Growing interest in trading in own currency, says FS
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There's growing interest for jurisdictions to conduct trade in their own currency, Financial Secretary Paul Chan said on Wednesday, adding that a multi-central bank digital currency platform is "worth pushing forward".
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At the annual Future Investment Initiative summit in Saudi Arabia, Chan said Hong Kong has been involved in the mBridge project, a platform supporting cross-border payments and foreign exchange transactions using central bank digital currencies and distributed ledger technology.
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"A lot of jurisdictions want to trade in their own currency. So the challenge is how to create a system to take care of that," Chan said in Riyadh.
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"Say, for example, Hong Kong, along with Saudi Arabia and a few other jurisdictions, we have an mBridge project facilitating trade settlements. I mean trading transactions denominated in their own local currency. And through digitalisation this can be settled by using their own currency. And this is gaining increasing confidence and increasing interest."
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During the summit, Chan witnessed the signing of a strategic cooperation agreement between Hong Kong Science and Technology Parks and Beta Lab, a startup incubator in Saudi Arabia.
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The financial chief is leading a 100-strong delegation to the Saudi capital for three days, after taking the first direct passenger flight between the SAR and Riyadh since 2017.
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"We're meeting with business, finance and technology companies, with investors and government leaders, too. Our goal is clear: To expand ties with Saudi Arabia, building friendship and exploring the many mutually beneficial collaboration opportunities this renewed connection will surely create," Chan told a cocktail reception.
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He also said the resumption of flights between the two cities "underlines the strategic importance" of Saudi Arabia's location "at the crossroad between three continents", while boosting ties between Beijing and Riyadh.
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Wed, 30 Oct 2024 11:24:00 +0800
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<title>
Police probe deadly traffic accident in Kwai Chung
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https://news.rthk.hk/rthk/en/component/k2/1776803-20241030.htm
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<img alt="Police are probing a deadly traffic accident in Kwai Chung and have urged witnesses to come forward. File photo: RTHK" referrerpolicy="no-referrer" src="https://images.weserv.nl/?n=-1&we&h=1080&output=webp&trim=1&url=https%3A%2F%2Fnewsstatic.rthk.hk%2Fimages%2Fmfile_1776803_1_20241030103045.jpg&q=60" style="width:100%;height:auto"/>
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Police are investigating a fatal traffic accident in Kwai Chung on Tuesday night in which a 75-year-old woman died.
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The accident happened at Kwai Chung Road near Lai King Estate at around 10:30pm, when the woman was reportedly hit by a taxi travelling towards Tsuen Wan.
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There are no above-ground pedestrian crossing facilities at the site.
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She sustained multiple injuries and was declared dead after being rushed to Princess Margaret Hospital.
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The taxi driver, 66, was arrested on suspicion of dangerous driving causing death.
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Police are investigating the case and have appealed to witnesses to come forward by calling the New Territories South traffic division at 3661-1300.
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