No.7  July, 2020  
Latest from Hong Kong
Hong Kong continues to thrive under National Security Law
The Standing Committee of the National People's Congress passed on 30 June 2020 the Law of the People's Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region (National Security Law) and listed the legislation in Annex III to the Basic Law in accordance with the procedures under Article 18 of the Basic Law. By way of promulgation it is now effective in the Hong Kong Special Administrative Region.

The National Security Law was promulgated with a view to safeguarding national security and restoring social order such that Hong Kong shall continue to thrive under the “One Country, Two Systems” arrangement.

For financial institutions and market practitioners operating in Hong Kong, the Law will not affect the way they conduct business, engage in market activities, allocate their capital, handle data or business information, conduct analysis or express opinion. Neither will the Law affect normal exchange between individuals, organisations or corporations and their foreign counterparts. Hong Kong remains and will continue to be an attractive, welcoming and safe place for businesses from around the world.

Read more from the National Security Law website.
  Updates on Hong Kong’s anti-pandemic measures
Epidemic control measures were strengthened in Hong Kong amid recent spikes in coronavirus cases :
  • Save for those involved in the provision of emergency services and essential public services, all other government employees will continue to work from home until 2 August.

  • Closure of scheduled premises and cessation of dine-in services for catering businesses until 4 August.

  • People must wear a mask at all times in a public place (indoor or outdoor) until 4 August.

  • Arrivals from high-risk places are required to provide a negative COVID-19 test result before boarding a flight to Hong Kong and confirmation of hotel room reservation in Hong Kong for compulsory quarantine.

  • Enhancing COVID-19 tests for high risk groups such as staff of residential care homes for the elderly, taxi drivers, restaurant staff etc on a voluntary basis.
Read more from the Fight Against COVID-19 website.
  AI-assisted system enables quick diagnosis of COVID-19
The Hong Kong Polytechnic University and the Macau University of Science and Technology have developed a new AI system which can assist radiologists and physicians in performing a quick diagnosis of COVID-19. The novel AI-assisted diagnostic system, based on computed tomography chest imaging, can efficiently distinguish COVID-19 pneumonia from other viral pneumonia. It can predict the severity level in 20 seconds, with an accuracy of up to 90%.

Details here.
  Platform boosts quest for COVID-19 vaccine
As virologists around the world race to develop an effective vaccine against COVID-19, scientists at the Hong Kong University of Science and Technology have set up a first-of-its-kind web-based platform to help their quest. Called COVIDep, the platform periodically pools and compares data to provide scientists around the world an up-to-date set of vaccine target recommendations for COVID-19.

Details here.
  COVID-19 Online Dispute Resolution Scheme launched
The COVID-19 Online Dispute Resolution (ODR) Scheme under the Anti-epidemic Fund established by the HKSAR Government was launched on 29 June. It provides speedy and cost effective ODR services to the general public and businesses. The eBRAM International Online Dispute Resolution Centre has been engaged to provide ODR and related services under the scheme and will operate the scheme independently.

Details here.
  First virtual Startmeup.HK Festival goes global
Tech-savvy entrepreneurs and astute investors around the world got insights into Hong Kong’s start-up landscape during this year’s Startmeup.HK Festival held from 6 to 10 July, which went virtual for the first time. Speaking at the online conference of Startup Impact Summit on 7 July, the Chief Executive of HKSAR Mrs Carrie Lam said the favourable factors of Hong Kong in attracting start-ups remained unchanged and the number of startups in Hong Kong had doubled over the past five years from about 1,500 to over 3,000. Mrs Lam also talked about the many opportunities and support programmes for start-ups to succeed in the challenging environment.

Details here.
  Pilot scheme promotes mutual access of financial markets in Greater Bay Area
The People's Bank of China and the monetary authorities of Hong Kong and Macao will jointly implement the two-way cross-boundary wealth management connect pilot scheme in the Guangdong-Hong Kong-Macao Greater Bay Area, the Hong Kong Monetary Authority announced on 29 June. Under Wealth Management Connect, residents in Hong Kong, Macao and nine cities in Guangdong can carry out cross-boundary investment in wealth management products distributed by banks in the Greater Bay Area. The initiative is an important measure for the Greater Bay Area’s financial development and a milestone in promoting mutual access of financial markets in the area.

Details here.
  Pilot scheme facilitates participation in arbitral proceedings
The HKSAR Government on 29 June launched a pilot scheme to provide facilitation for eligible non-Hong Kong residents participating in arbitral proceedings in Hong Kong on a short-term basis. Nationals of countries who may visit Hong Kong visa-free and possess a letter of proof are allowed to take part in arbitral proceedings in the city as visitors, and will not be required to obtain employment visas. The scheme aims to strengthen Hong Kong’s position as an international centre for legal and dispute resolution services in the Asia-Pacific region, and to be in line with the Belt and Road Initiative as well as the Guangdong-Hong Kong-Macao Greater Bay Area Development.

Details here.
Upcoming event
  Hong Kong Laureate Forum (Hong Kong)
The inaugural Hong Kong Laureate Forum will be held from 15 to 20 November 2021 at Hong Kong Science Park, gathering leading distinguished and young scientific minds from around the world for world-class academic exchanges and cross-cultural dialogue. The Forum is an invaluable opportunity for young scientists to get connected and exchange with Shaw Laureates and renowned scientists from around the world through participation in a week-long scientific networking programme. Applications for young scientists will be opened from 14 September to 13 December 2020 through an online application platform. For more details and eligibility criteria, visit website of the Forum or follow them via Facebook and Twitter. Be the first to know about the Forum’s latest updates, sign up for the Hong Kong Laureate Forum e-Newsletter.
  Together, we fight the virus!
  Useful links  
  Tender notifications  
safehuarding National Security in Hong Kong
Updates on Latest Situation in Hong Kong
HKETO Sydney website Find us on FacebookLinkedin Find us on Facebook