The Consulate General of Switzerland in Hong Kong - Press review

Hong Kong must grow despite persistent US-China trade tensions
City’s finance chief outlines efforts to diversify economy and wants Hong Kong to overtake Switzerland as world’s biggest wealth management centre. SCMP, Jun 23

UBS upbeat on China stocks, citing tariff pause with US and potential Beijing stimulus

Swiss bank also cites low valuations for Chinese equities as investors diversify away from US assets. SCMP, Jun 2

‘Why has China set up a new Hong Kong-based international mediation body?’
According to the commentary published on June 21, ‘China is seeking to become the chief architect of new models of global governance in the wake of the rapid retreat of the US from the international stage under Donald Trump, with Beijing saying the existing mechanisms do not properly represent the interests of developing nations.’ The commentary further argued that ‘placing the organisation in Hong Kong also sent a message to the world that the city is moving beyond its traditional image as a gateway to the mainland’s economy and can play an increasingly political role as China’s bridge to the Global South.’ SCMP, Jun 24

EU Office & EuroCham organise “Greenway 2025” to deepen cooperation between EU and HK
On June 23, the European Union Office to HK and Macao and the European Chamber of Commerce in HK co- hosted the fourth edition of ‘Greenway 2025,’ a flagship sustainability event aimed at strengthening EU–Hong Kong cooperation on green growth. Ambassador Harvey Rouse emphasised that the EU had reduced emissions by 37% since 1990 while growing its economy by 68%, arguing that the green transition is a driver of growth. Chief Executive John Lee said HK looked forward to working with EU companies, particularly in the Northern Metropolis, to pursue long-term green development. Rouse concluded that with HK role as a trade hub and its green finance expertise, there is strong potential to deepen cooperation on sustainability. SCMP, Jun 25

40th Human Rights Dialogue between EU and China addresses Hong Kong concerns
During the 40th Human Rights Dialogue in Brussels, the EU expressed concern over the repressive use of national security legislation in Hong Kong, highlighting its impact on human rights and fundamental freedoms. The EU called for the immediate and unconditional release of British citizen and media entrepreneur Jimmy Lai, as well as barrister and human rights defender Chow Hang-tung. RFA, Jun 17

CE hosts luncheon for EU Heads of Missions
Chief Executive John Lee hosted a luncheon in HK for EU Head of Office Ambassador Harvey Rouse and 15 Consuls-General from EU Member States. Local media highlighted Lee’s remarks describing the EU as “one of Hong Kong’s most important trading partners” and his intention to strengthen EU-Hong Kong ties. SCMP, Jun 12

China ‘respects Panama Canal neutrality’ amid warning over CK Hutchison deal
On June 11, China’s Ministry of Foreign Affairs spokesperson Li Jian affirmed China’s respect for Panama’s sovereignty and recognition of the Panama Canal as a neutral international waterway. This statement followed remarks from Panama Canal Authority administrator Ricaurte Vasquez on June 10, who warned that CK Hutchison’s plan to sell its overseas ports to a consortium led by US investment firm BlackRock and shipping company MSC could lead to a concentration of operators inconsistent with the canal’s neutrality. SCMP, Jun 12

MFA Commissioner Cui leads foreign delegation to Greater Bay Area (GBA)
Commissioner of the Ministry of Foreign Affairs in HK Cui Jianchun led a delegation to visit multiple cities within the GBA, aiming to foster understanding of the development strategy for the region. The delegation, comprising over 60 consular and business representatives from Europe and Asia, started its four-day visit on 3 June with a stop at Qianhai's artificial intelligence and robotics enterprises in Shenzhen. Cui highlighted that the GBA's Gross Domestic Product (GDP) has surpassed USD2 trillion, ranking 11th in global growth rate. TS, Jun 3

‘Soft resistance’ cannot be overlooked despite not constituting a breach of law
In an interview published on 30 June, Secretary for Justice Paul Lam argued that the government has not used the label of ‘soft resistance’ randomly, even though it was a political rather than a legal term. Lam offered three criteria to determine if an act constitutes ‘soft resistance’: the means used to commit the act, the motives and purposes behind the act and the potential harmful consequences. Lam stressed that while ‘soft resistance’ may not be in breach of local laws, it could not be overlooked. Separately, in an article published on 29 June, HKFP detailed how HK government departments and statutory bodies across different sectors, including education, labour, social welfare, arts and culture and the environment, have respectively adopted national security clauses in their guidelines and conditions since Beijing imposed the law in June 2020. SCMP, HKFP, June 29 & 30

Hong Kong court jails 5 for rioting in 2019 protests following gov’t appeal against 2021 acquittal
A HK court has jailed five people for rioting during the 2019 pro-democracy protests and unrest after the government successfully challenged their acquittal. The five people had previously been acquitted of rioting in December 2021, but the government successfully appealed against the ruling in May 2024. Last year, the Court of Appeal quashed Judge Ko’s acquittal verdict for the five and ordered him to preside over the case again. HKFP, June 25

HK’s last active pro-democracy party, League of Social Democrats pressured to dissolve
Hong Kong’s last remaining active pro-democracy party, the League of Social Democrats (LSD), has officially disbanded, marking a historic turning point in the city’s political landscape as Beijing’s crackdown on dissent reaches unprecedented levels. The LSD announced its dissolution on June 29, 2025, after 19 years of advocacy for democratic reform and grassroots rights. Economist, SCMP, Reuters, CNN, Jun 30

Xia Baolong Wraps Up Hong Kong Visit, Highlights National Security and Economic Confidence
HK and Macao Affairs Office Director Xia Baolong concluded a five-day visit to HK on June 22, emphasizing the need to balance national security with economic development. His trip included meetings with political leaders and, for the first time, a collective session with university presidents. He also attended a forum marking the fifth anniversary of the National Security Law (NSL). Chief Executive John Lee said Xia had urged HK to stay focused on both stability and growth amid global tensions. Earlier, on June 17, Lee defended the NSL, noting it targets only a “very small number” of individuals, 332 arrests since 2020, or just 0.2% of total annual arrests. The visit reinforced Beijing’s dual message: uphold security while restoring investor and public confidence. Jurist, HKFP TS, TS1, RTHK, TS2, SCMP, Jun 17, 19, 23, 26

Hong Kong justice minister downplays departure of foreign judges, says numbers ‘not main point’
HK’s justice chief has downplayed the departure of foreign judges in recent years, saying it is not about their numbers but whether the judges have “a good international reputation.” Secretary for Justice Paul Lam told Cable News in an interview published that the city’s foreign judges system was still effective. HKFP, Jun 16

National security clauses added to certain business licensing procedures
The Hong Kong government is incorporating national security conditions into nearly 20 types of licenses under the Food and Environmental Hygiene Department, including those for restaurants, bakeries, butchers, swimming pools, and massage parlours. Licenses may be revoked if holders, employees, or subcontractors engage in conduct deemed to endanger national security or contradict public interest. In a June 6 interview with Wen Wei Po, Chief Executive John Lee emphasised that safeguarding national security should become part of Hong Kong’s “culture.” TS, HKFP, Jun 9

Lawyer argues for same-sex couples’ right to found family in Hong Kong IVF case
A lawyer told Hong Kong’s High Court on June 6 that same-sex couples should have “the right to found a family” during a judicial review after lesbian parents using reciprocal in vitro fertilisation (RIVF) were prevented from listing both their names on their child’s birth certificate. HKFP, Jun 6

LegCo approves appointment of former NZ judge to HK top court
The Legislative Council has endorsed the appointment of retired New Zealand judge William Gillow Gibbes Austen Young as a non-permanent judge of the city’s top court, effective later this month for a three-year term. Chief Secretary for Administration Eric Chan Kwok-ki highlighted the significance of having distinguished overseas judges with extensive judicial experience serving on the Court of Final Appeal. Young served as a permanent judge on New Zealand’s Supreme Court from 2010 until his retirement in April 2022. TS, RTHK, SCMP, Jun 5

Nine seek to overturn rioting convictions over 2019 storming of Hong Kong Legislative Council
Nine individuals jailed for storming the Hong Kong Legislative Council during the 2019 pro-democracy protests are seeking to overturn their convictions and sentences, according to HKFP on June 5. Among them are children’s rights activist Althea Suen and actor Gregory Wong. A hearing to decide if the appeals can proceed is scheduled for December 16 and will last two days. HKFP, China Daily, Jun 5

National security police arrest 5 over alleged bomb threats, promoting Hong Kong independence
Hong Kong’s national security police arrested five people suspected of making fake bomb threats and promoting Hong Kong independence. The suspects, including one man and four women, were linked to threats against a Taiwanese band’s concert and calls to abolish Hong Kong’s national security law. Between late April and mid- May, police received emails and social media posts promoting Taiwanese independence and threatening bomb attacks near government buildings. HKFP, SCMP, Jun 3

Beijing appoints Zhou Ji as new Liaison Office chief in Hong Kong
On May 30, China’s State Council named Zhou Ji, Executive Deputy Director of the Hong Kong and Macao Affairs Office, as the new Director of the Central Government’s Liaison Office in Hong Kong and national security adviser to the city’s Committee for Safeguarding National Security, replacing Zheng Yanxiong. Zhou met with Chief Executive John Lee on May 31 and June 2, and visited local neighbourhoods on June 1. Lee described Zhou as a ‘pragmatic’ and ‘humble’ leader, though he learned of the appointment through the news. TS, Jun 2

Trade & Development Council chairman calls for active exploration of new markets
Speaking on a radio programme, HK Trade Development Council Chairman Frederick Ma called for more aggressive exploration of new markets, including ASEAN nations, as the city faces growing trade headwinds from geopolitical tensions and US tariff policies. (Ma assumed his role on 1 June.) TS, June 28

Monetary Authority steps into market to bolster Hong Kong Dollar (HKD)
According to a statement on 26 June, the HK Monetary Authority (HKMA) sold USD1.2 billion worth of US dollars to buy HK currency at HKD7.85 per US dollar. This is the first time since 2023 for the HKMA to support the currently weak local dollar. The HK currency’s peg with the US dollar has been in place since 1983. SCMP, Jun 26

CE John Lee touts HK's business appeal at international companies reception
Chief Executive John Lee welcomed representatives from international and mainland businesses at a reception held June 24 at the Central Government Offices, promoting the city as a base for regional and global expansion. During the event, Lee engaged with corporate leaders to discuss their plans for exploring opportunities in Hong Kong. Lee pointed to the city's improved global competitiveness ranking, having risen two positions to secure third place in the latest World Competitiveness Yearbook. Hong Kong particularly excelled in tax policy and business legislation categories, ranking first in both areas. Separately, Hong Kong ranked most international city in Asia, narrowly beating Singapore, according to the new index released on June 24 by the Hong Kong General Chamber of Commerce. TS, SCMP-Index, Jun 25

Mainland and Hong Kong launch Payment Connect for cross-border transfers
On June 20, the Hong Kong Monetary Authority and China’s People’s Bank announced the connection of Hong Kong’s Faster Payment System with the mainland’s Internet Banking Payment System. This integration enables 315 million users to transfer money across the border for various daily expenses including travel, meals, education, and salaries. Payment Connect officially launched on June 22, completing 6’900 northbound and 19’000 southbound transactions by 6pm that day. SCMP, Jun 23

Hong Kong poised to be top IPO market in 2025
On June 19, Deloitte upgraded its forecast for Hong Kong’s IPO market, citing the city’s return as the world’s leading fundraising hub in the first half of the year. Between January and June, Hong Kong saw around USD13.1 bn raised from 40 IPOs, marking a 33% increase in deal numbers and a six- to seven-fold increase in funds raised compared to the previous year. RTHK, Jun 20

Hong Kong climbs to 3rd in global competitiveness index
Hong Kong has risen to third place in the 2025 World Competitiveness Ranking released by the Switzerland- based International Institute for Management Development on June 17, marking its return to the top three for the first time since 2019. Among 69 economies, Hong Kong ranked behind only Switzerland and Singapore. Chief Executive John Lee welcomed the result, stating it reflected that the government’s approach and policies were effective and on the right track. HKFP, The Standard, Jun 18

HK visitor arrivals up 20% in May, thanks to China’s Golden Week holiday, large-scale events
Hong Kong logged 4.08 million visitor arrivals in May, a 20% year-on-year increase, thanks to China’s Golden Week holiday and large-scale events that attracted regional tourists, the city’s tourism board has said. HKFP, Jun 16

HKTDC chief says Hong Kong can benefit from US trade policies
On June 15, Frederick Ma Si-hang, Chairman of the HK Trade Development Council, highlighted HK’s opportunity to attract foreign companies amid shifting global trade dynamics driven by US policies. He expressed optimism that these changes could boost the HK stock market and help revitalize the city’s economy. TS, Jun 16

Ant International and Ant Digital to seek stablecoin licences in Hong Kong
Singapore-based Ant International and the Hangzhou-based Ant Digital, two affiliates of Chinese tech giant Ant Group, have announced plans to apply for stablecoin issuer licences in Hong Kong once the new ordinance governing fiat-backed cryptocurrencies takes effect in August. The two Ant units’ move aligns with its global ambitions as other companies, including rival JD.com, line up to issue fiat-backed cryptocurrencies. Last month, Hong Kong's legislature passed a stablecoin bill that establishes a licensing regime for fiat-referenced stablecoin issuers in Hong Kong. Bloomberg, SCMP, Jun 13

Social media, e-commerce platform Xiaohongshu (RedNote in English) sets up office in Hong Kong
On June 7, Chinese social network and e-commerce platform Xiaohongshu (RedNote) inaugurated its first overseas office in Hong Kong. Financial Secretary Paul Chan said the office would boost the visibility of Hong Kong’s tourism, retail, dining, and creative sectors, while InvestHK noted it would improve services for cross- border users and brands. HKFP, Jun 9

US and China hold talks in London to extend trade truce
Following recent negotiations in Geneva, the United States and China met in London on June 9 to try to maintain a fragile trade truce amid ongoing tensions. Hong Kong is affected by the outcome of the negotiations. HKFP, Jun 9

Hong Kong retail sales fall for 14th month amid property and corporate challenges
Hong Kong’s retail sales declined by 2.3% in April year-on-year, marking the 14th consecutive month of drop, according to data released on June 2. Meanwhile, property giant New World faces increasing pressure to refinance €9,83 bn in loans due by June, having secured around 60% commitments after pledging key assets. Separately, PwC HK is reportedly laying off about 50 partners and implementing pay cuts of up to 30% across multiple departments. RTHK, Bloomberg, TS, Jun 2

Hong Kong public libraries receive 140 reports on ‘objectionable content’
Hong Kong public libraries have received around 140 reports from the general public about suspected national security violations and other potentially “objectionable content” since the reporting mechanism was introduced in 2023. HKFP, Jun 25

3 Hong Kong universities move up in QS top 50 rankings, with HKU jumping to 11th place
Three HK universities have climbed in education analytics firm QS’s rankings of the world’s top 50 institutions, with the University of Hong Kong (HKU) jumping to 11th place. Quacquarelli Symonds, also known as QS, released its new 2026 rankings on Thursday. HKU rose six spots from last year’s rankings. HKFP, Jun 19

EU Ambassador: ‘We want to contribute to Macao’s diversification, openness and uniqueness’
In an interview published by Macau Business on June 8, Ambassador Harvey Rouse, Head of the European Union Office to Hong Kong and Macao, expressed interest in reinvigorating cooperation with Macao, stressing that Europe can contribute significantly to the territory’s economic diversification efforts. Rouse also highlighted opportunities for cooperation on the green transition and on people-to-people exchanges. But Rouse also underlined the importance of Macao to keep its uniqueness under the ‘one country, two systems’ framework and stressed the importance of maintaining an open society and more opportunities for international talent in order to achieve innovation and diversification. Macau Business, Jun 9

Two arrested, ten taken away as Hong Kong police ramp up Tiananmen vigil patrols
Hong Kong marked the 36th anniversary of the Tiananmen Square crackdown under tight police surveillance. On June 4, police arrested two individuals and escorted away ten others, including known activists, near Causeway Bay, the traditional site of public vigils. A day earlier, authorities had already stepped up patrols, emphasizing legal compliance for any public gatherings. Chief Executive John Lee reiterated that all commemorative activities must adhere to local laws. In prison, activist Chow Hang-tung began a 36-hour hunger strike, while the Catholic diocese again refrained from holding a memorial mass. Foreign diplomatic missions, including those of the EU, US, UK, Canada, and Australia, marked the occasion through symbolic gestures and social media posts. In Macao, former pro-democracy lawmaker Sunny Au posted tributes online and reported receiving “concerned” phone calls, though he said he did not feel pressured. HKFP1, TS, HKFP2, SCMP, InMedia Yahoo News, MDT, AAM, Jun 2, 3, 5

This is a review of the Hong Kong media and does not necessarly represent the opinion of the Consulate General of Switzerland. The Consulate General of Switzerland in Hong Kong does not bear any responsibility for the topicality, correctness, completeness or quality of the information provided. Liability claims regarding damage caused by the use of any information provided, including any kind of information which might be incomplete or incorrect, will therefore be rejected.

30.6.2025