The Consulate General of Switzerland in Hong Kong - Press review

Swiss Re: Asia-Pacific presents major climate-related insurance opportunities
Victor Kuk, Swiss Re’s head of property and casualty reinsurance in Southeast Asia, India, Korea, Hong Kong
and Taiwan, said that only 16% of climate-related risks in the region were presently insured. SCMP, Sept 9

Ticinese food: Nocino is set to open its fourth location
Having cornered the local market for Ticinese food, from the Swiss canton of Ticino on the Italian border, Nocino is set to open its fourth location in three years, this time in Central. Seating 30, the restaurant serves “grotto- style” dishes comprising regional specialities such as malakoff, a deep-fried cheese fondue, and venison shoulder salmi with the Ticino staple of buckwheat polenta. SCMP, Sept 9

John Lee Leads Record Hong Kong Delegation to Beijing Victory Day Parade
On 3 Sept., Chief Executive John Lee led a 360-member HK delegation to Beijing for a military parade marking China’s victory over Japan in World War II, the city’s largest-ever commemorative group. Lee said the turnout reflected the central authorities’ importance attached to HK, while the parade showcased China’s military strength. Former city leaders, senior officials, and the Macao Chief Executive also attended. In HK, officials and consuls joined a memorial ceremony at City Hall, while the Federation of Trade Unions held 63 live broadcasts of the parade, and schools were encouraged to show it to students.SCMP1, HKFP, SCMP2, RTHK, TS, Sept 2, 3

Beijing office targets new US Consul General
On Saturday (27 Sept), the Hong Kong and Macao Affairs Office reposted a third state-media article criticizing newly arrived US Consul General Julie Eadeh for hosting events with former official Anson Chan. It urged her to avoid “interfering in Hong Kong and China’s internal affairs,” echoing a Foreign Ministry statement. The Hong Kong government formally recognized Eadeh’s appointment a day earlier. OCMFA statement, InMedia Sept 26

Beijing, Hong Kong, Macao slam ‘biased’ US report
The US State Department’s 2025 Investment Climate Statements, released Friday (26 Sept), described Hong Kong as an open economy with favorable business conditions but said judicial independence is restricted in politically or security-related cases. Beijing and Hong Kong authorities denounced the report as “biased” and “smearing.” SCMP, Macau Daily Times Sept 29, 30

US House Committee scrutinises HK role in China money laundering, sanctions evasion
The US House Select Committee on the Strategic Competition Between the US and the Chinese Communist Party on 18 Sept. held a roundtable discussion to explore the purported role of Hong Kong as a safe haven for mainland China money laundering and sanctions evasion activities. HKTDC research

Chief Secretary meets with Head of EU Office to ‘reiterate disapproval’ over EU annual report
On 15 September, Chief Secretary for Administration Eric Chan met with Harvey Rouse, Head of the EU Office in Hong Kong, to express the city government’s “strong disapproval and rejection” of the European Commission’s annual report. Chan criticized the EU for allegedly applying double standards by questioning Hong Kong’s legal system and national security measures while ignoring the city’s constitutional duties and the positive effects of the national security law on economic development and human rights. Earlier, on 9 September, the Hong Kong government issued a statement urging the EU to respect facts, international law, and the city’s autonomy, and to cease what it called interference in China’s internal affairs.HK Gov, TS1, TS2, Sept 15

Extending Hongkongers’ UK settlement period to 10 years ‘subject to consultation’
SCMP reported that the UK Home Office Minister Alex Norris has stated that a proposal to extend the settlement period for Hongkongers from five to 10 years is ‘subject to consultation’. Norris emphasised that Hongkongers ‘are not only valued’ but have a ‘huge positive and lasting’ impact on British national life. SCMP, Sept 9

US-based NGO decries abuse faced by Hong Kong political prisoners
In a 91-report released on 8 Sept., the US-based Committee for Freedom in HK Foundation argued that political prisoners in Hong Kong faced ‘systemic abuse and political control’ with some juvenile offenders subject to sexual violence. Frances Hui, a co-writer of the report, pointed out that HK has a ‘strong incentive’ to respond to international scrutiny as a global financial hub bound by the International Covenant on Civil and Political Rights. ‘Now is the time for sustained, coordinated pressure from the global community,’ she added. ‘By raising the reputational and diplomatic costs of abuse, we create real openings for reform and accountability and hope for improved conditions and the release of political prisoners.’ Nikkei Asia

HK-Jordan pact to cut taxes and boost ties
Hong Kong signed a comprehensive double taxation agreement with Jordan in Beijing, as the city is expanding its partnership with countries in the Belt and Road Initiative. The agreement will slash withholding tax rates on dividends, interest, and royalties for HK residents from a maximum of 10% to no more than 5%. TS, Sept 4

Hong Kong cardinal says Pope Leo XIV follows approach of late Pope Francis in relations with Beijing
In an article published in the Catholic newspaper Sunday Examiner on 4 Sept., HK Bishop Cardinal Stephen Chow unveiled that Pope Leo XIV expressed his desire to follow in his predecessor's footsteps in regards to maintaining and developing ties with Chinese authorities on the progress of the Catholic church in China. According to the article, the meeting's agenda aimed to examine the current situation of the Chinese church and the Vatican's improved relationship with the state authorities. TS, SCMP Sept 4

Judge Roberto Ribeiro re-appointed to Court of Final Appeal
The government announced the re-appointment of Judge Roberto Ribeiro to the Court of Final Appeal. Ribeiro, born into a HK family of Portuguese decent, is the longest-serving justice at HK’s highest court. HKFP, Sept 19

Secretary for Security says 430 people remain behind bars over 2019 protests, NSL
Secretary for Security Chris Tang on 9 Sept. revealed that around 430 people are currently in correctional facilities due to offences relating to the 2019 protests or national security. Tang added that the government has signed agreements with the city's eight publicly-funded universities to allow those in correctional institutions to earn credits during their studies, which could be used to continue their higher education after being released. RTHK

Chief Executive John Lee congratulates winners of Election Committee subsector by-elections
On 7 Sept., 3,534 registered voters cast ballots in the by-elections, with 28 candidates competing for 21 seats across six subsectors. The remaining 34 subsectors are filled by appointment. Chief Executive John Lee congratulated the winners, saying the 1,500-member committee reflects “broad representation” under Hong Kong’s improved electoral system. He stressed its key role in ensuring “patriots administer Hong Kong,” including nominating candidates and electing 40 LegCo members in December. TS, SCMP, HK GOV Sept 7

Three people found guilty of conspiracy over 2019-20 bomb plots
On 4 Sept., three Hongkongers were found guilty of conspiring to carry out bomb attacks during the 2019 protests, but they were cleared of terrorism charges along with four others. A High Court jury of seven women and two men returned the verdict to conclude a 163-day trial involving eight defendants linked to three bomb plots after the closed-door deliberations had begun on Monday morning. SCMP, HKFP, Sept 4

Hong Kong tops free economy list, ranks 3rd as financial hub
The Fraser Institute’s annual Economic Freedom of the World report ranked Hong Kong first among 165 jurisdictions, though it noted deterioration in regulation, legal system, and property rights since the 2020 security law. The Hong Kong government urged the Institute to reflect the “facts.” Singapore and New Zealand followed in second and third place. Separately, Hong Kong again ranked third in the Global Financial Centres Index by Z/Yen and the China Development Institute. RTHK Sept 25

Hong Kong firms tap new Swap Connect rule to hedge yuan rate risks
Companies in HK moved swiftly to take advantage of a new Swap Connect rule that became effective on 22 Sept. that allowed them hedge using China’s onshore loan prime rate, as demand rises to manage yuan interest- rate risks. The measure is part of a drive to expand product offerings under Swap Connect. Launched in Hong Kong in 2023, Swap Connect allows global investors to access mainland China’s interbank financial derivatives market to hedge interest-rate risks. SCMP

Hong Kong matches US Fed’s first rate cut of 2025, in boon for mortgage borrowers, economy
The Hong Kong Monetary Authority reduced the city’s base rate by a quarter point to 4.5% on 18 Sept., matching the US Federal Reserve’s cut to its target rate, which fell to the range of 4% to 4.25% during the sixth meeting of the Federal Open Market Committee this year. The new base rate in Hong Kong is the lowest since December 2022. SCMP

Financial Secretary keeps growth target at 2-3% as external risks outweigh rate cuts
On 18 Sept., Financial Secretary Paul Chan said that the government will maintain its full-year economic growth forecast at 2-3% this year, noting that external risks outweighed rate cuts. While interest rate cuts will support businesses and homeowners, external factors such as tariffs and US protectionist policies remain beyond Hong Kong’s control, he added. TS

Hong Kong rises to 15th in Global Innovation Index
Hong Kong has ascended to 15th place - a three-position leap - in the Global Innovation Index (GII) among 139 economies, securing 5th position within the Asia region [Mainland China ranks 3rd in Asia]. The ranking, released on 16 Sept. by the World Intellectual Property Organization, indicates that Hong Kong ranks 8th globally in the ‘Innovation Input’ sub-index. Financial Secretary Paul Chan Mo-po on Tuesday remarked that the ranking ‘underscores the effectiveness’ of Hong Kong's strategy in promoting the ‘complementary relationship between finance and innovation and technology’. [Already on September 1st, The Shenzhen - Hong Kong-Guangzhou cluster had been ranked No.1 in the World Intellectual Property Organization’s 2025 Global Innovation Index of the World’s Top 100 Innovation Clusters, with media reports highlighting Shenzhen's role and its strong showing in VC deals.] The Standard, HK GOV, China Daily, SCMP Sept. 16, 17

'HK offers high-tech, green funds for BRI partners'
Hong Kong's finance chief Paul Chan on Wednesday said the city could offer cutting-edge digital technologies for countries under the Belt and Road Initiative (BRI), while providing innovative financial instruments to aid the global green (…) RTHK, Sept 10

Summit binds BRI relations
The two-day Belt and Road Summit started on 10 Sept., with the signing of nine memorandums of understanding between Hong Kong and countries that joined the Belt and Road Initiative. The Chinese Ministry of Commerce also revealed a proposal to set up a joint free trade zone for mainland China, Hong Kong and Macao. China Daily

Chief Executive John Lee meets Hainan official
Chief Executive John Lee on 9 Sept. met Secretary of the CPC Hainan Provincial Committee Feng Fei at Government House to exchange views on deepening Hong Kong’s co-operation with Hainan. Lee highlighted that ‘Hainan and Hong Kong are both key links’ under the Belt & Road Initiative. Lee also thanked the Hainan Provincial People’s Government for ‘leveraging Hong Kong’s advantages as an international financial centre and a platform for offshore renminbi debt products’. HK Gov

Financial Secretary hails Xi's ‘awakening’ call for peace ahead of Belt and Road Summit
In his blog on 7 Sept. Financial Secretary Paul Chan Mo-po stated that Hong Kong will continue to play its role in the Belt and Road initiatives, as the city is set to host the 10th edition of the Belt and Road Summit on 10-11 Sept. Chan also underscored President Xi's commitment to ‘peaceful development and building a community with a shared future for humanity’, which was advocated during the Victory Day commemoration. Chan described Xi's advocacy as an ‘awakening’ call amid current international geopolitical tensions, emphasizing Xi's focus on multilateralism rooted in ‘mutual respect and equal participation’. TS

Development Bank of Kazakhstan issues 2 billion Chinese yuan inaugural “dim sum bond” in HK
The Development Bank of Kazakhstan has issued a 2 billion Chinese yuan (€240 million) so-called “dim sum bond” in Hong Kong, i.e. bonds issued outside of mainland China but denominated in yuan, marking the first- ever yuan-denominated bond issued by a government-owned Central Asian issuer. It is also the first time that an issuer from Central Asia has launched a bond in the city. The Standard said this showcased Hong Kong as the leading offshore yuan fundraising hub for Belt and Road Initiative countries. TS

Global capital is tiptoeing into Hong Kong’s market
Clara Chan of the government-owned HK Investment Corporation pointed out that global financial investors are pouring into HK in a low profile way to stay under the radar and avoid undue attention because of rising geopolitical tension. ‘We see a great velocity of (capital) flow, although in a very low profile way,’ Chan said. SCMP, Sep 10

Hong Kong stocks hit 4-year high as China inflation data lifts chances of a rate cut
SCMP reported that HK stocks rose to a four-year high on 10 Sept. amid hopes that China will cut interest rates after consumer prices slipped further, alongside expectations of a similar move by the US Federal Reserve. The Hang Seng Index advanced 1.1% to 26’225.60 as of 10.12am Hong Kong time, poised for the highest close since 10 Sept., 2021. The Hang Seng Tech Index gained 2.1%. SCMP, Sept 10

Hong Kong shoots up in global talent ranking to No 4
In a report released by the Switzerland-based International Institute for Management Development on 9 Sept., HK has secured the fourth spot globally for talent, catapulting five places to achieve its highest position ever in the international ranking. HK also ranked first in Asia in the league table. Separately, speaking at the eighth HK Green Finance Association Annual Forum on 8 Sept., Financial Secretary Paul Chan pointed out that HK is well positioned as a global hub for green and sustainable finance to help emission-belching industries decarbonise as the world battles climate change SCMP – Lee, SCMP – Chan, Sept 8

HSBC names new Hong Kong CEO, overhauling leaders in the top market
On 4 Sept., HSBC announced the reshuffling of top leadership at its key Hong Kong unit, with Maggie Ng taking over as Hong Kong chief executive officer from Luanne Lim, who is assuming the top job at subsidiary Hang Seng Bank. Bloomberg, Sept 5

HK officials highlight achievements as Shenzhen-HK-Guangzhou cluster tops Global Innovation Index
The cluster ranked first in World Intellectual Property Organization’s 2025 Global Innovation Index of the world’s top 100 innovation hubs. Financial Secretary Paul Chan called the ranking a key benchmark, noting the new metric of venture capital highlights the role of capital alongside ideas and talent. Innovation Secretary Sun Dong said the result reflects the Greater Bay Area’s global recognition. TS, China Daily, HK GOV, SCMP, HKFP, Sept 1

HKU sets up first campus in Europe
Ming Pao reported on Friday (26 Sept) that the University of Hong Kong spent HK$310 million (€34 million) to
purchase a newly-built building in Barcelona as its ‘first entry into Europe’ and ‘first European hub’. Ming Pao

Lawmakers veto same-sex union recognition bill
On 10 Sept., Hong Kong’s legislature rejected a government bill to recognise same-sex partnerships, with 71 votes against and 14 in favour, the first government bill vetoed since the 2021 overhaul. The proposal had been drawn up following a Court of Final Appeal ruling, but officials said they would not seek to extend the court’s October deadline. Authorities in Beijing said the result reflected mainstream social values, while LGBTQ activists called it a setback. The vote came a day after the High Court ruled in favour of a lesbian couple seeking to list both mothers on their child’s birth certificate. Secretary for Constitutional and Mainland Affairs Erick Tsang on Sept. 10 said the government is disappointed but respects lawmakers’ decision to veto its proposal to recognise same-sex partnerships. RTHK1, RTHK2, HKFP, AP, HKFP, Judgement, TS, SCMPSept 8, 9, 10

Visitor arrivals surge 15.5% to over 4.2 million in August, setting new monthly record
According to official data released on 19 Sept., Macao recorded 4’219’034 visitor arrivals in August, the summer holiday month, setting a new monthly record and representing a 15.5% increase compared with the same month in 2024. In terms of origin, arrivals from mainland China totalled 3 257 874 in August [accounting for 77% of total visitors in August], an 18.4% increase year on year. MB Sept 20

Macao-Portugal Joint Committee Meeting to be held in February 2026 after near-seven-year hiatus
The 7th Macao-Portugal Joint Committee Meeting will be held in Macao from 4 to 6 Feb 2026, nearly seven years after the previous session, Portuguese Prime Minister Luís Montenegro announced on 10 Sept. Montenegro, who visited Macao on 9–10 Sept. and met with Chief Executive Sam Hou Fai, shared the update during a reception concluding his visit. MDT, MB, Sept 10

CE John Lee’s Policy Address and Beijing applauds for ‘bold economic and social reforms’
On 17 September 2025, Hong Kong Chief Executive John Lee Ka-chiu delivered his fourth Policy Address under the theme “Deepening Reforms for Our People, Leveraging Our Strengths for a Brighter Future.” The plan outlines priorities through 2027, focusing on economic competitiveness, infrastructure, technology, education, and social stability. Key initiatives include accelerating major infrastructure projects, notably the Northern Metropolis near Shenzhen, which will provide housing for 2.5 million people and host two tech and innovation parks. The government also plans targeted support for high-value sectors like life sciences, AI, and renewable energy, along with streamlined approvals and innovation clusters. In education, Hong Kong aims to become an international hub by raising the proportion of non-local students at public universities to 50% and integrating patriotic education. Family policies include doubling the child allowance in the first two years after childbirth. Administrative reforms include a Heads of Department Accountability System, stronger performance appraisals for civil servants, and an AI expert team to boost efficiency. For the first time, Lee suggested using renminbi for government spending, including yuan-denominated bonds and green investment initiatives. Beijing praised the Policy Address for its “forward-looking vision to drive economic growth, foster development, and enhance public welfare.” Local institutions such as the Hong Kong Tourism Board and Hong Kong Trade Development Council also welcomed the plan. Following the address, the Hong Kong Monetary Authority cut the base rate by 25 basis points to 4.5% to support economic recovery, particularly in the property market, while the government maintains a 2–3% growth target for 2025. HK-Gov, TS, SCMP, Sept 17, 18

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.

30.9.2025