06 Reinventing Hong Kong Industries: Unwavering Progress through Uncertain Times 無懼風雨砥礪前行 工業創新續顯輝煌 Leveraging New Gateways to the Mainland for Hong Kong Food Products 進軍內銷市場 本地製造食品再迎新機遇 Navigating the Turbulent Waters with Free Trade Anchors 國際貿易風起雲湧 長策領航轉危為機 Beyond Oil: Now is the Time to Unlock Middle East Opportunities 中東經濟轉型崛起 開拓市場正合時宜 Green Compass Reset: EU’s Green Deal Trims Stay the Course 歐盟簡化碳合規要求 可持續發展減壓不減速 CONTENTS 2025 May 五月 – July 七月 LEADERSHIP VIEWS我觀我見 17 FOCUS STORY專題故事 27 Port Community System: Empowering Smart Port Development 港口社區系統：賦能智慧港口發展 INDUSTRY RADAR工商動態 17 Silver Economy: Technology Shaping an Age-friendly Society 銀髮經濟蓄勢待發 科技塑造樂齡社會 27 5-7/2025 | 3
53 70 71 Activity Review (Feburary to April 2025) 活動回顧(2025年2 月至 4月） Upcoming Events 工總活動 New Members 新會員 30 34 41 44 FHKI CONTENTS 2025 May 五月 – July 七月 49 50 51 Federation of Hong Kong Industries and China CITIC Bank International to Fuel SME Future through Strategic Partnership 香港工業總會與中信銀行 ( 國際 ) 成策略伙伴 共同推動中小企發展 “Innovative Pathway: Hong Kong’s New Era of Industry” Exhibition Hong Kong’s Industrial Evolution Showcased at Science Museum 承載歷史 塑造未來 「創．造未來—香港工業新時代」 展覽於香港科學館隆重開幕 Hong Kong New Industrialisation Development Alliance Founding Ceremony 香港新型工業發展聯盟成立典禮 FHKI Released Interim Report of “Made by Hong Kong: Strategies for New Industrialisation” 工總發表《香港製造：新型工業化策略》研究中期報告 FHKI and L Catterton Signed MoU 工總與路威凱騰簽署合作備忘錄 FHKI, China Post Hongkong, and Hongkong Post Signed MoU 工總、中國郵政（香港）及香港郵政簽署合作備忘錄 FHKI Held the 2025 Labour Department “Good Employee Recognition Campaign" Awards Ceremony Honouring IT Manager Eric Wong 工總舉行 2025 勞工處「好僱員嘉許計劃」頒獎典禮 表揚資訊科技部門經理黃繼業 主席 常務副主席 副主席 總裁 編輯委員 設計 廣告 合作查詢 印刷商 The Hong Kong Industrialist is published by the Federation of Hong Kong Industries (FHKI). Opinions expressed are those of the individual authors and do not necessarily reflect the views of FHKI. Articles published may be reproduced but with proper acknowledgement to the Hong Kong Industrialist. 《香港工業家》由香港工業總會出版，內容乃個別作者意見，並不一定反映本會立場。歡迎轉載或摘引本刊文章，但請註明出處。 Dr Steve Chuang Anthony Lam, Hon Sunny Tan, Ricky Chan, Clara Chan Jude Chow, Karen Chan, Gary Lau, Peter Shum, Wallace Wong, Jackie Ng Bonnie Chan Chan Ching Wah, Henry Chan, Wesley Mui, Andre Chu, Emily Kwok, Carman Yuen, Kahlen Cheng, David Lee, Samson Wang, Owen Liang Pinpoint Advertising Limited (852) 2732 3188 ad@fhki.org.hk prcd@fhki.org.hk New Artway Printing Production Limited (852) 2552 7410 Room A, 4 Floor, Shing King Industrial Building, 45 Kut Shing Street, Chai Wan, Hong Kong Chairman Executive Deputy Chairmen Deputy Chairmen Director-General Editorial Board Graphic Design Advertising Editorial Enquiry Printer 31/F, Billion Plaza, 8 Cheung Yue Street, Cheung Sha Wan, Kowloon, Hong Kong 香港九龍長沙灣長裕街 8 號 億京廣場31樓 (852) 2732 3188 (852) 2721 3494 fhki@fhki.org.hk www.industryhk.org 莊子雄博士 林世豪、陳祖恒議員、 陳偉聰、陳婉珊 周治平、陳嘉賢、劉燊濤、 岑健偉、王博文、吳慧君 陳心愉 陳清華、陳永恆、 梅家豪、朱家俊、郭庭禎、 袁嘉敏、鄭麗明、李柏軒、 王聖辰、梁浩宏 天邦廣告設計有限公司 (852) 2732 3188 ad@fhki.org.hk prcd@fhki.org.hk 新藝域印刷製作有限公司 (852) 2552 7410 香港柴灣吉勝街45號 勝景工業大廈4樓A室 44 34 4 | 5-7/2025
DR STEVE CHUANG 莊子雄博士 Reinventing Hong Kong Industries: Unwavering Progress through Uncertain Times 無懼風雨砥礪前行 工業創新續顯輝煌 LEADERSHIP VIEWS | 我觀我見 CHAIRMAN 主席 In the summer of 2023, I was honoured to be entrusted with the FHKI chairmanship. Looking back on my two-year term, we have navigated through persistent global volatility and witnessed seismic shifts reshaping the economic landscape worldwide. Hong Kong now stands at a critical crossroads where tradition meets possibility – a decisive juncture of industrial transformation and innovation-driven development. Throughout this journey, I have remained steadfastly committed to ensuring FHKI embrace its visionary mandate – to drive industrial innovation, strengthen our policy advocacy, foster dynamic cross-sector collaboration, and expand our international connectivity – to chart the course for Hong Kong’s new industrialisation. Building a New Industrialisation Ecosystem In March 2025, the “Hong Kong New Industrialisation Development Alliance” (HKNIDA) was officially established – a watershed moment in our journey toward new industrialisation. Coordinated by FHKI and co-founded with seven founding institutions, the initiative aims to foster close collaboration among the Government, industry, academia, research, and investment sectors, creating a platform to drive Hong Kong’s new industrialisation and positioning it as a new growth area of Hong Kong’s economy. HKNIDA is committed to transforming our city into an international I&T centre. Its formation represents not merely a collaboration for policy advocacy, but a bold declaration of our collective will to drive industrial transformation. Evidence-based Policy Advocacy through Data FHKI champions the power of rigorous research in shaping our advocacy agenda. Our commissioned study with Hong Kong Institute of Economics and Business Strategy at HKU Business School, “Made by Hong Kong: Strategies for New Industrialisation” has unveiled compelling insights. The May 2025 interim report reveals that Hong Kong’s industry generated HK$127.1 billion in economic value in 2023, representing 4.4% of the city’s GDP. Notably, new industries contributed HK$40.2 billion, accounting for 1.4% of GDP – a remarkable quadrupling since 2000 that signals extraordinary momentum. The study illustrates that Hong Kong’s industry has evolved beyond traditional manufacturing into a sophisticated ecosystem encompassing design, R&D, data processing, and sustainable technologies – all strategically integrated with global industrial chains. These empirical foundations empower FHKI to craft evidence-driven policy recommendations, amplifying the collective voice of our industrial community. 2023年夏，承蒙各方信任，我有幸出任香港 工業總會主席。任內兩載，國際局勢持續 不穩，全球經濟格局重塑，香港站在產業 轉型與創科發展的重要關口。身處此際， 工總自當肩負使命，致力推動工業革新， 加強政策倡議，促進跨界協作，拓展對外 聯繫，為香港新型工業化搭橋鋪路。 建構新型工業生態圈 2025年3月，「香港新型工業發展聯盟」正式 成立，為推動新型工業化邁出重要一步。 聯盟由工總協調籌組，聯同七個創會機構， 旨在促進「政、產、學、研、投」緊密協作， 構建香港新型工業合作平台，以新型工業 為香港經濟未來新增長點，並致力實現香港 發展成為國際創科中心的願景。聯盟的 成立，象徵香港在創科與產業政策上的一次 重大跨界聯動，亦展現了我們對推動產業結 構轉型的堅定決心。 以數據驅動政策建言 工總重視實證研究，於去年委託香港大學經 管學院經濟及商業策略研究所進行《香港 製造：新型工業化策略》研究。根據2025年5 月發表的中期報告，2023年香港工業增加價 值達1,271億港元，佔本地生產總值（GDP） 4.4%；其中新型工業貢獻1.4%，約402億港 元，較2000年增長近四倍，勢頭強勁。 這份研究清晰展示，香港工業已不再局限於 傳統製造，而是涵蓋設計、研發、數據處理、 環保技術等高增值環節，與全球產業鏈緊密 接軌。這些數據為我們向政府、業界建言獻 策提供了堅實依據，更強化了本地工業的政 策話語權。 6 | 5-7/2025
聚焦產業升級與人才支援 新型工業發展，人才為本。工總與政府、職業訓 練局及業界緊密合作，推動職專教育與STEM 教育，培育創科與先進製造人才。工總亦分別 於去年及今年成立第33分組（生物科技及醫療 保健協會） 與「醫學工程及創新協會」，聚焦 醫療創新與生命科學，助力香港躍升成為亞洲 醫療創新樞紐。 拓展海外市場與產業對接 面對環球市場急劇變化，工總積極協助企業 「走出去」。2024年8月，我們隨特區代表團訪 問東盟三國，加強經貿聯繫；2025年5月，再隨 行政長官出訪卡塔爾與科威特，拓展中東創科 合作新機。 此外，工總自組考察團，足跡遍佈東盟、中東等 地，推動與「一帶一路」沿線市場的產業對接， 助力本地企業覓得新商機，提升香港作為「超 級聯繫人」與「超級增值人」的角色。 融入國家發展大局 建言施政方向 兩年來，工總積極配合國家「十四五」規劃與 粵港澳大灣區建設，推動本地工業與內地融合 發展，連續兩年分別於東莞及深圳舉辦「大灣 區工商界高峰論壇及交流會」，促進兩地工商 界深度交流合作。我們積極參與《施政報告》及 《財政預算案》諮詢，向政府建言獻策，包括 發展高端製造、加快科研成果轉化、完善土地 與基建配套、優化創科人才政策等。 我們亦積極參與河套深港科技創新合作區 建設，促進「產、學、研、投」深度融合，推動 形成具國際競爭力的創科生態圈，為香港注入 新質生產力。 承先啟後 再創輝煌 任期將屆，衷心感謝工總同仁、會員企業及合作 夥伴鼎力支持。回首兩年，香港工業正破繭而 出，傳統製造業借助創新科技蛻變革新，同時 以研發為核心活動的新型工業正穩步上揚。 我們相信，新型工業化將成為香港經濟轉型的 重要引擎，亦是推動持續發展的關鍵動力。 未來，工總將繼續承先啟後，發揮橋樑角色， 凝聚各方力量，引領香港工業邁向更高質量、 更具競爭力的新階段，開創香港產業升級新 篇章。 Industrial Upgrading and Talent Development Talent remains the lifeblood of propelling new industrialisation. FHKI has forged strategic alliances with the Government, the Vocational Training Council, and industry partners to elevate vocational and STEM education, nurturing next-generation talent in I&T and advanced manufacturing. In parallel, our commitment to industrial upgrading materialised in the establishment of our Group 33, the Biotechnology and Healthcare Council, last year, and the Medical Engineering and Innovation Council this year. These initiatives focus on medical innovation and life sciences, propelling Hong Kong’s rise as Asia’s health and medical innovation hub. Expanding Overseas Markets and Industrial Integration Amid rapid changes in the global market, FHKI actively empowers enterprises to “go global”. August 2024 saw us join the HKSAR delegation across three ASEAN member states, forging vital trade partnerships. In May 2025, we accompanied the Chief Executive to Qatar and Kuwait, unlocking new I&T collaborations across the Middle East. Complementing these official missions, FHKI has organised targeted delegations to ASEAN, the Middle East, and other regions to accelerate industrial integration with Belt and Road markets. These initiatives enable local enterprises to discover untapped opportunities while reinforcing Hong Kong’s strategic role as both a “super-connector” and a “super value-adder” in the global economy. Integrating with National Development Over the past two years, FHKI has strategically aligned our efforts with the 14th FiveYear Plan and the Greater Bay Area development initiatives. We have championed the seamless integration of local industries with Mainland opportunities, hosting the impactful “GBA iForum and Banquet” for two consecutive years in Dongguan and Shenzhen to foster cross-border synergies. Our policy contributions have informed the Chief Executive’s Policy Address and the Budget, offering practical recommendations on high-end manufacturing development, research commercialisation acceleration, land and infrastructure support, and I&T talent policy optimisation. We remain at the forefront of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone’s development, fostering the organic integration of industry, academia, research, and investment. This collaborative ecosystem aims to establish globally competitive I&T capabilities while infusing Hong Kong with new quality productive forces. Carrying the Torch Forward and Creating New Glory As my term concludes, I extend my heartfelt gratitude to my colleagues at FHKI, our corporate members, and our partners for their unwavering support. The past two years have witnessed Hong Kong’s industrial renaissance – traditional manufacturing is undergoing transformation through I&T, while R&D-centred new industries are gaining steady momentum. We firmly believe that new industrialisation will be the key engine driving Hong Kong’s economic transformation and sustainable development. Looking ahead, FHKI will continue to serve as the vital bridge gathering stakeholders from all sectors to spearhead Hong Kong's industrial evolution toward greater quality and competitiveness, authoring the next chapter in our city’s proud industrial legacy. 5-7/2025 | 7
PETER SHUM 岑健偉 LEADERSHIP VIEWS | 我觀我見 進軍內銷市場 本地製造食品再迎新機遇 ANTHONY LAM 林世豪 在內地雙循環的發展大局下，近年特區政府 積極協助港商拓展內銷市場，並利用粵港澳 大灣區這個最佳切入點，更好地融入國家發 展大局，把握內地龐大的商機。自去年5月 推出《關於輸內地香港製造食品安全監管及 口岸便利通關合作協議》，擴大香港製造食 品進入內地市場的便利通關安排後，今年5 月，環境及生態局與國家海關總署簽署《香 港輸內地肉製品檢驗檢疫和衞生要求備忘 錄》和《香港輸內地乳品的合作安排》（合稱 《合作協議》），為香港的肉製品和乳品打開 內銷市場的大門，進一步為本地食品及飲品 行業帶來新發展機遇。 《合作協議》推動香港製造食品新篇章 香港製造食品進入內地市場的便利通關安 排已實施一年，涵蓋三大類食品，包括（1） 飲料及冷凍飲品（不包括含酒精類及奶類飲 品）；（2）餅乾、糕點及麵包；以及（3）糖 果及巧克力（包括巧克力、代可可脂巧克力 及其製品）。自推行以來，運作大致順暢， 工總亦收到不少查詢，許多業界朋友對此表 示讚賞，認為極大程度幫助他們將更多種類 的食品引入內地市場。 Under Mainland's “dual circulation” development strategy, the HKSAR Government has been actively facilitating Hong Kong businesses’ expansion into the Mainland consumer market, strategically leveraging the Guangdong-Hong Kong-Macao Greater Bay Area as the optimal entry point to better integrate with national development priorities and capture substantial Mainland business opportunities. Following the May 2024 launch of the Cooperation Agreement on the Supervision of Safety and Facilitation of Customs Clearance for Food Products Manufactured in Hong Kong and Exported to the Mainland, which streamlined customs procedures for Hong Kong-manufactured food products, significant progress continued in May this year when the Environment and Ecology Bureau (EEB) signed two landmark agreements with the General Administration of Customs of the People’s Republic of China (GACC): the Memorandum of Understanding on the Inspection, Quarantine and Hygiene Requirements for Meat Products Exported from Hong Kong to the Mainland, and the Cooperation Arrangement for the Export of Dairy Products from Hong Kong to the Mainland (collectively referred to as Cooperation Agreements). These initiatives have opened the Mainland market access for Hong Kong’s meat and dairy products, presenting new development opportunities for the local food and beverage industry. New Chapter for Hong Kong Food Exports The Streamlined Customs Procedures for Hong Kong-Manufactured Food Products Entering the Mainland Market has been in effect for one year across three categories: (1) beverages and frozen drinks (excluding alcoholic and milk beverages); (2) biscuits, pastries and bread; and (3) candies and chocolates (including chocolate, cocoa butter substitute chocolate and their products). Implementation has proceeded smoothly, with FHKI receiving numerous inquiries. Industry stakeholders have expressed significant appreciation, acknowledging that the initiative substantially facilitated the introduction of diverse food products into the Mainland consumer market. DEPUTY CHAIRMAN 副主席 EXECUTIVE DEPUTY CHAIRMAN 常務副主席 Leveraging New Gateways to the Mainland for Hong Kong Food Products 8 | 5-7/2025
在這短短一年的時間內，業界再次迎來振奮人心 的好消息。環境及生態局與國家海關總署簽訂 《合作協議》），有關安排實施後，符合《合作協議》 所列明要求的香港製造肉製品和乳品將可輸入 內地，進一步促進香港與內地的食品貿易及 香港肉製品和乳品企業發展。《合作協議》對輸 內地的香港製造肉製品和乳品實施食物安全源頭 監控，涵蓋對食物原材料來源檢測，以及食物製 造商的生產管理，包括產品存放和運輸等要求。 一直以來，香港製造的肉製品和乳品因廠房的 食品安全及品質監控嚴謹而馳名中外，廣受消費 者歡迎，不僅符合海外市場的嚴格要求，更融合 中西飲食文化精髓，形成獨特風味。然而，由於 內地與香港在食物安全標準體系、檢測規範以至 認證程序上存在差異，令這些優質港產食品難 以順利進入內地市場。隨著兩地合作機制逐步 完善，相信日後將有更多種類的港產食品進入 內地市場，面對龐大的新商機，業界感到非常 振奮。此舉不但有效拉動香港的出口增長，更能 促進兩地食物安全標準的協同發展。 攜手共進 拓展內銷市場廣闊前景 為助本地的食品開拓內地市場，工總一直不遺 餘力，與有關部門保持緊密溝通。在今年3月及 5月，筆者樂見環境及生態局主動約見工總， 就優化通關安排及輸往內地的肉製品和乳品進行 意見交流。工總第8分 組（食 品、 飲 品 及 煙 草 ） 在兩次會議上合共25位企業會員積極參與，踴躍 發言，共商良策。 兩次會議極具成效，局方承諾將與內地海關總署 保持密切溝通，積極研究擴大《合作協議》範圍， 協助本地企業將肉製品和乳品輸入內地。工總將 繼續充當政府與業界橋樑，協助企業開拓新市場 和新產品，把握大灣區融合發展的機遇。 「食品、飲品及煙草製品」佔本港製造業行業增加 總值高達三分之一，打通內銷市場，既可推動 本港經濟持續增長，亦將成為業界投資自動化 和引入創新科技的催化劑，促使企業升級轉型， 使高增值食品工業成為香港新型工業化的重要 動力。 In this short span of one year, the industry has been greeted with further exciting news. The EEB’s signing of Cooperation Agreements with GACC means Hong Kong-manufactured meat and dairy products meeting specified requirements will gain Mainland market access – further enhancing cross-border food trade and bolstering the growth of Hong Kong’s meat and dairy enterprises. These agreements will put in place the monitoring of food safety from the source, covering requirements for testing the sources of food raw materials and for the food manufacturers on production management. Hong Kong-manufactured meat and dairy products have long been renowned for their rigorous safety and quality controls, earning widespread consumer acclaim. Our products not only satisfy stringent international market requirements but also uniquely blend Eastern and Western culinary traditions, creating distinctive flavour profiles. Previously, disparities in the food safety standard systems, testing protocols, and certification procedures between the Mainland and Hong Kong had posed challenges for these premium products entering Mainland markets. As the cooperative mechanisms progressively improve, industry participants anticipate that greater varieties of Hong Kong-produced foods will gain access to the Mainland market, creating substantial new commercial opportunities that have energised the sector. This initiative not only effectively drives Hong Kong’s export growth but also fosters the harmonised development of food safety standards across both regions. Collecting Insights for Mainland Market Success To assist local food products in expanding into the Mainland market, FHKI has spared no effort in maintaining close communication with relevant authorities. In March and May this year, we were pleased to see the EEB proactively engage with FHKI to exchange views on optimising the Streamlined Customs Arrangement and on the export of meat and dairy products to the Mainland. FHKI Group 8 (Food, beverages and tobacco) saw enthusiastic participation from 25 corporate members across the two meetings, who actively contributed their insights and collaborated on effective strategies. Both meetings proved highly productive, with the EEB pledging to maintain close communication with the GACC and actively explore expanding the scope of the Cooperation Agreements to assist local enterprises in exporting meat and dairy products to the Mainland. FHKI will continue to serve as a bridge between the Government and the industry, supporting businesses in exploring new markets and products while seizing the opportunities presented by the integration of the GBA. The food, beverages and tobacco sector accounts for as much as one-third of the total value added in Hong Kong’s manufacturing industry. Opening Mainland market not only drives sustained economic growth in Hong Kong but will also act as a catalyst for the industry to invest in automation and introduce innovative technologies, promoting industry upgrades and transformation, and will position high-value food manufacturing as a key driver for Hong Kong’s new industrialisation. 5-7/2025 | 9
Navigating the Turbulent Waters with Free Trade Anchors 國際貿易風起雲湧 長策領航轉危為機 LEADERSHIP VIEWS | 我觀我見 今年4月，隨著特朗普重返白宮，美國迅速重啟 強硬貿易政策，企圖重塑全球經貿秩序。4月2 日，美國宣布實施所謂「對等關稅」政策，對多 國輸美商品徵收額外關稅，中美關稅對峙一度升 溫，美對華關稅率更一度飆升至145%，幾乎等 同禁運。 儘管5月中雙方於日內瓦達成90天暫時協議，將 對華關稅率調至30%，並於6月5日經國家主席 習近平與特朗普通電話，雙方同意儘快舉行新一 輪會談以落實日內瓦共識，但此輪關稅風波已對 全球供應鏈造成重大衝擊，香港製造業及出口業 亦備受壓力，而未來走向仍充滿變數。在這不確 定中唯一可以確定的是，過去以自由貿易為核心 的國際經貿秩序正經歷重大變革，全球正步入充 滿地緣經濟與不確定性的經貿新常態。 然而，亂局中亦蘊藏機遇。最新數據顯示，香港 在2025年4月的整體出口貨值達到4,345億元， 按年增長14.7%，超過市場預期的12.2%，這已 是連續第14個月的出口上升。儘管對美國的出 口增長放緩至1%，但這反映出美國廠家在貿易 戰暫時緩和期間提前下訂單的「搶出口」現象， 使香港的貿易表現相對穩定。在這新常態下新興 經濟體的崛起將注入新動能，亦有更多中外企業 為求穩定營商環境而來港集資。香港必須發揮 一向引以為傲的靈活適應力，重新定位為連接 內地與新興市場的樞紐，而非僅僅作為中美貿易 的中介。政府與企業聯手，積極調整策略，把握 變局中的機會，力爭在新常態下逆勢而上。 In April, Donald Trump’s return to the White House triggered an immediate revival of aggressive trade policies aimed at reshaping the global economic order. On 2 April, Washington announced its controversial “reciprocal tariff” policy, imposing additional tariffs on imports from multiple countries. This move intensified the Sino-US standoff, with tariffs on Chinese goods at one point surging to 145% – effectively constituting an embargo. Despite a 90-day temporary agreement reached in Geneva in mid-May that moderated tariffs on Chinese imports to 30%, and a subsequent 5 June telephone conversation between President Xi Jinping and President Trump pledging expedited talks to implement the Geneva consensus, this wave of tariff hikes had already inflicted a severe blow to global supply chains, putting significant pressure on Hong Kong’s manufacturing and export sectors. In this volatile landscape, one certainty emerges: the post-war global economic order, once characterised by free trade, is undergoing profound transformation, and is being replaced by a new normal defined by geoeconomics and uncertainty. Nonetheless, significant opportunities emerge from this turbulence. Latest economic indicators reveal Hong Kong’s April 2025 total export value reached HK$434.5 billion, a year-on-year increase of 14.7%, surpassing market expectations of 12.2% and marking the 14th consecutive month of growth. While exports to the United States slowed to a modest 1% increase, this primarily reflects American importers’ strategic “front-loading” of orders during the temporary tariff truce, contributing to Hong Kong’s relatively stable trade performance. In the new normal, emerging economies provide fresh momentum. while an increasing number of Mainland and foreign enterprises seek Hong Kong’s stable business environment for capital raising activities. Hong Kong must leverage its celebrated adaptability to reposition itself as a strategic nexus connecting the Mainland with emerging markets, rather than merely functioning as a Sino-US trade intermediary. Through government-business collaboration and proactive strategy recalibration, Hong Kong can capitalise on these transitional opportunities and achieve countercyclical growth in this challenging new normal. HON SUNNY TAN 陳祖恒議員 WALLACE WONG 王博文 KAREN CHAN 陳嘉賢 DEPUTY CHAIRMAN 副主席 EXECUTIVE DEPUTY CHAIRMAN 常務副主席 10 | 5-7/2025
Strategic Adjustments for a Shifting Landscape In response to the restructuring of global trade, Hong Kong businesses must accelerate efforts to diversify markets and supply chains to reduce dependence on a single market. Businesses could actively pursue the vast opportunities arising from the Central Government’s “dual circulation” policy and the Belt and Road Initiative, expanding into Mainland and emerging markets across ASEAN, the Middle East, and Central Asia. Meanwhile, businesses should reevaluate the production base configurations, considering partial relocation to emerging manufacturing hubs in Southeast Asia to mitigate risk. Recent performance underscores the merit of this approach: in April, exports to Vietnam increased by 48.3% year-on-year, demonstrating the timely progress in diversifying both market reach and supply chain arrangements. Amidst economic transformation and market uncertainty, government support is salient. In the immediate term, the Hong Kong Monetary Authority should encourage banks to provide greater flexibility in repayment arrangements for affected businesses, including grace periods where necessary, to alleviate liquidity pressures. Consideration should also be given to extending the Principal Moratorium arrangement under the SME Financing Guarantee Scheme – currently set to expire in November – for a further 12 months, affording enterprises additional operational flexibility. Over the medium to long term, Hong Kong should make full use of its unique position as a gateway connecting China with international markets. This includes providing enhanced land and tax incentives in the Northern Metropolis and optimising the BUD Fund to support enterprises expanding into more emerging markets. Free Trade Harbour Prevails in Turbulence Despite US unreasonable implementation of “reciprocal tariffs”, Hong Kong maintains its zero-tariff free trade regime, establishing itself as one of the few global ports steadfastly upholding free trade principles. Paul Chan, the Financial Secretary, has reaffirmed that Hong Kong will continue to maintain its free port status in accordance with the Basic Law, implement free trade policies and ensure the flow of goods, capital, and information – an unwavering commitment to free trade that remains resolute. This policy consistency continues to provide a predictable and stable business environment, strengthening Hong Kong’s appeal as a destination for international capital. Recent trends indicate a growing inflow of global capital into Hong Kong and the Mainland. Many enterprises are also adjusting their strategies – from primarily focusing on connecting the Mainland with Western markets, to now developing trade between the Mainland and emerging Asian markets, especially ASEAN. As a free port, Hong Kong facilitates efficient logistics and warehousing while playing a distinctive role in specialised areas of supply chain management, trade finance, and ESG practices – an ideal and distinct position to navigate the new global trade landscape. Confronting the tariff-driven new normal, businesses must demonstrate strategic vision and adaptability, while our Government should provide targeted support and maintain a stable business environment. With our adaptability, innovative mindset, and diversified market strategies, Hong Kong’s industries are ready to explore new frontiers in the evolving global economic landscape, reshape our competitive edge, and achieve new heights of success. 因應變局 調整佈局 面對當前貿易格局重構，港商必須加快市場與供 應鏈多元化部署，減少對單一市場的依賴。企業 可積極把握國家「雙循環」及「一帶一路」倡議所 帶來的龐大機遇，開拓內地市場及東盟、中東、 中亞等新興市場。同時重新審視生產基地佈局， 考慮部分轉移至東南亞等新興製造樞紐，以分散 風險。這一策略已開始顯現成效——近年本港對 亞洲市場的出口增長顯著，而4月份對越南的出 口按年增長更高達48.3%，反映企業成功開拓東 南亞業務，並適應供應鏈的戰略性轉移。 在經濟轉型與營商環境不穩的狀態下，政府角色 更為關鍵。短期而言，建議金管局促使銀行對受 影響企業提供彈性還款安排，尤其在短期內無 法如期還款時，應設寬限期，避免主動收貸。同 時，應考慮將原訂於11月到期的「中小企融資擔 保計劃」下「還息不還本」措施延長12個月，讓 企業有更大調度空間。中長期而言，則應發揮香 港「內聯外通」優勢，在北部都會區提供更佳土 地與稅務配套，優化BUD專項基金，助企業拓展 更多新興市場。 堅守自由貿易原則 變局中重塑優勢 在美國不合理地加徵對等關稅的情況下，香港仍 然秉行自由貿易零關稅政策，成為全球少有堅守 自由貿易原則的港口。財政司司長陳茂波強調， 特區政府將按照《基本法》保持香港自由港地位， 實行自由貿易政策，保障貨物、資金、資訊自由 流動，支持自由貿易的決心與承諾決不動搖。 這種穩定可預期的營商環境，不僅維護了香港的 金融穩定，更向外界展示香港是全球資金的安全 避風港。近月來，國際資本正加速進入香港和 內地市場，不少企業也正調整策略，從過去主要 連接內地和歐美市場，轉為開拓內地和亞洲新興 市場間的貿易，尤其看好東盟市場。香港作為 自由港，能便利企業靈活物流配送和貨物倉儲， 同時在供應鏈管理、貿易融資和ESG管理等專業 領域發揮獨特作用，絕對有條件在新貿易格局中 突圍而出。 面對關稅新常態，企業需具備戰略眼光與適應能 力，政府則應提供精準支援與穩定營商環境。 香港工業憑藉靈活應變、創新思維及多元市場 策略，定能在全球經貿新格局中開拓藍海，重塑 競爭優勢，再創佳績。 5-7/2025 | 11
Beyond Oil: Now is the Time to Unlock Middle East Opportunities 中東經濟轉型崛起 開拓市場正合時宜 LEADERSHIP VIEWS | 我觀我見 今年5月，特首率領香港及內地高級別商貿代表 團訪問卡塔爾和科威特，工總有幸獲邀成為其 中一員，並拜訪了當地商會、金融機構及企業 等，為港商開拓當地市場建立了堅實基礎。過 去我們對兩地的市場認識不深，今次代表團不 僅深化我們對當地發展背景、金融貿易、創科 發展和市場狀況的了解，更成功建立了香港與 當地商界的直接溝通渠道，為港企進軍中東市 場提供了強大的支援。 加速多元發展 非石油產業潛力無限 中東國家過往主要依賴石油相關產業，但近年 加緊經濟轉型的步伐，投放大量資源於先進 製造及創科等範疇，培育多項新經濟增長點。 以阿聯酋為例，其非石油類活動佔實際本地生產 總值（GDP）逾75%，而今次訪問的卡塔爾和 科威特，其非石油類活動亦分別佔GDP 64%及 50%，顯示中東正從石油經濟邁向多元產業的 新格局。儘管石油輸出國組織及其盟友（OPEC+） 一改自2022年以來的減產決定，近月已增加 石油產量，但與新冠疫情前相比仍有距離，產 油國的石油GDP缺口，需要由其他產業的高速 增長填補，中東國家更要加快轉型步伐。 現時國際經貿局勢複雜多變，港商需跳出傳統 歐美市場框架，深耕中東及東盟等新興市場， 擴大商貿朋友圈、分散營商風險。特區政府 近年積極支援港商拓展中東市場，包括於2021 在迪拜設立香港首個中東地區經貿辦事處， 並與阿聯酋、科威特及巴林等分別簽訂投資協 定。此外，去年更有追蹤香港股票指數的交易 所買賣基金（ETF）在中東上市，吸納當地資金 投資港股。 In a strategic move to unlock Middle Eastern opportunities, Hong Kong’s Chief Executive led a high-level business delegation comprising representatives from Hong Kong and Mainland enterprises to visit Qatar and Kuwait this May. FHKI was honoured to participate in this delegation and engage with local chambers of commerce, financial institutions and businesses, which laid groundwork critical for Hong Kong enterprises eyeing expansion into these burgeoning markets. This firsthand market intelligence has dramatically enhanced our understanding of the region’s development strategies, financial and trade dynamics, and I&T landscape. Beyond information gathering, the mission established vital direct communication channels with their business communities, fortifying support for Hong Kong businesses aiming to enter the Middle East. Diversification: The Non-Oil Frontier Traditionally reliant on oil, the Middle East is undergoing a phase of economic diversification where they invest heavily in sectors such as advanced manufacturing and I&T, creating new avenues for economic growth. For instance, in the United Arab Emirates (UAE), non-oil activities now account for over 75% of its GDP, while Qatar and Kuwait report figures of 64% and 50%, respectively. This signals a major shift towards a more diversified economic framework. Despite the Organization of the Petroleum Exporting Countries and its allies (OPEC+) recently reversing its production cut policies in place since 2022 and increasing oil output in recent months, production levels still fall short of pre-pandemic figures. This GDP shortfall in oil-producing nations must be compensated through rapid growth in other sectors, underscoring the urgency for Middle Eastern countries to accelerate their economic transformation efforts. Amid today’s complex global economic landscape, Hong Kong enterprises must expand beyond traditional Western markets and pivot toward emerging markets in the Middle East and ASEAN regions – a strategy that both broadens business networks and mitigates trade risks. The HKSAR Government has been proactive in this endeavour by establishing Hong Kong’s first Middle Eastern Economic and Trade Office in Dubai, as well as securing investment agreements with the UAE, Kuwait and Bahrain. Financial integration took a significant step forward last year with the launch of the first exchange-traded fund (ETF) in Saudi Arabia tracking Hong Kong stocks, further reinforcing these economic partnerships. GARY LAU 劉燊濤 RICKY CHAN 陳偉聰 DEPUTY CHAIRMAN 副主席 EXECUTIVE DEPUTY CHAIRMAN 常務副主席 12 | 5-7/2025
Market Intelligence: The Path to Mutual Trust Over the past year, FHKI has forged strategic partnerships with Middle Eastern chambers of commerce and government bodies through three pivotal Memoranda of Understanding (MoUs). A critical advantage of these alliances lies in the region’s unique chamber structure – membership is mandatory for all local enterprises, effectively transforming these chambers into comprehensive gateways to the entire industry. Hong Kong’s established expertise in trade, investment, technology, professional services, and logistics, combined with the enthusiasm of Middle Eastern enterprises and organisations for collaboration with Hong Kong businesses, positions these MoUs as crucial mechanisms for effective communication and future partnerships. Last December, FHKI led a delegation of member enterprises from 15 industry groups to Saudi Arabia and the UAE. Through intensive engagements with local chambers of commerce, banks and enterprises, the delegation gained invaluable insights into regional operations and development trajectories. Our findings revealed significant differences in religious practices, cultural norms, customs, political frameworks, and economic systems between the Middle Eastern and Chinese societies. With these nations in their early stages of economic transformation and industrial development, establishing strategic networks there and comprehending local business dynamics will be vital. Where individual companies previously faced resource constraint, these Government and FHKI-led delegations deliver tailored solutions – demystifying the business landscape and eliminating obstacles to future partnerships. We are already witnessing tangible results, with examples of Hong Kong enterprise securing local investment funding and successfully establishing operations in the Middle East, confirming the substantial growth opportunities for Hong Kong businesses in this dynamic region. Market Entry through FHKI Certification Middle Eastern markets show tremendous demand for Halal-certified products. To accelerate Hong Kong businesses’ regional penetration, FHKI exchanged an MoU with the Incorporated Trustees of the Islamic Community Fund of Hong Kong (BOT) in May this year, establishing comprehensive cooperation on local Halal certification, covering product certification, industry promotion and knowledge exchange. With the global Muslim population exceeding 2 billion, the Halal market, spanning food, cosmetics, apparel, and tourism, presents extraordinary growth potential. FHKI is currently establishing a Halal-related Q-Mark through the Hong Kong Q-Mark Council, aiming to enhance Muslim consumer confidence in Hong Kong products and services. This initiative creates new business opportunities in food manufacturing, restaurants and related industries while elevating Hong Kong’s international profile as a “Muslim-friendly city” to attract more visitors and investors. Hong Kong’s manufacturers demonstrate distinct competitive advantages in Middle Eastern markets. Our proven resilience in global supply chains, precise quality control, and agile production management align perfectly with the region’s industrial upgrading ambitions. Moreover, Hong Kong’s adeptness in navigating international trade protocols and our cross-cultural operational experience position us as ideal partners to provide critical technology and management know-how in the Middle East’s economic diversification efforts. As the global economic landscape evolves, FHKI remains committed to supporting Hong Kong enterprises in leveraging our strengths to explore emerging markets, particularly in the “Global South”, including ASEAN, the Middle East, and regions along the Belt and Road Initiative, securing our foothold and unlocking new opportunities in the new era of international trade. 深入了解當地市場 建立互信促進合作 工總過去一年與中東地區的商會及政府機構簽 署三份合作備忘錄，這些中東地區的工商會有 一個特別之處，就是所有當地企業都需要加入， 換言之聯繫當地商會就能聯繫當地所有業界。 香港在經貿、投資、科技、專業服務及貨運等 範疇發展成熟，加上當地的企業及組織亦十分 歡迎與港商開展合作關係，合作備忘錄正正為 各方建立有效溝通機制，共同協商未來經貿 發展。 去年12月，工總率領其中15個分組的會員企 業到訪沙特阿拉伯及阿聯酋，訪問當地商會、 銀行、企業，觀摩他們的運作和最新發展，我們 發現中東在宗教、文化、習俗、政治和經濟制度 均與華人社會不同，加上他們正值經濟轉型及 工業發展的起步階段，港商如欲開拓市場，當然 要建立人脈並掌握當地經貿動態，過去港商可 能因資源有限而受到阻力，正因如此，政府及 工總舉辦的外訪團就能對症下藥，協助港商理解 當地營商環境，為未來合作發展消除障礙。筆者 欣見現時已有香港企業獲當地基金投資成功落戶 中東，印證香港企業在中東有不少發展空間。 工總支援業界 產品認證助拓中東市場 中東國家對清真認證產品需求龐大，為推動港商 進一步進入中東市場，工總5月初與香港回教 信託基金總會（BOT）簽署合作備忘錄，共同推動 本地清真認證合作，包括產品認證、產業推廣 與知識交流。全球穆斯林人口超過20億，清真市場 涵蓋食品、化妝品、服飾與旅遊等產業，潛力 龐大。工總正透過香港優質標誌局建立與清真 相關的「Q嘜」，提升穆斯林社群對本地產品及 服務的認受，為食品、食肆及相關產業開拓新商 機，並藉此提升香港作為「穆斯林友好城市」的 國際形象，吸引更多旅客與投資者來港。 港資製造企業在中東市場具備獨特優勢，多年來 在全球供應鏈中建立了強大韌性、精準的品質 控制和靈活的生產管理，正好切合中東國家產業 升級的需求。同時，香港企業熟悉國際商貿規則 和擁有跨文化經營經驗，能在中東國家推動經濟 多元化的進程中，提供關鍵技術和管理經驗。 在當前國際經貿格局重塑之際，工總將繼續協助 香港企業發揮這些優勢，開拓新興市場，特別是 「全球南方」市場，包括東盟、中東，以至「一帶 一路」沿線國家，為業界在新的國際經貿格局中 站穩陣腳，創造商機。 5-7/2025 | 13
Green Compass Reset: EU’s Green Deal Trims Stay the Course 歐盟簡化碳合規要求 可持續發展減壓不減速 LEADERSHIP VIEWS | 我觀我見 JUDE CHOW 周治平 CLARA CHAN 陳婉珊 全球氣候政策正迎來重大調整期。隨著美國 總統特朗普重返白宮，氣候政策出現明顯轉向， 他宣布終止拜登政府的「綠色新政」，並批評 這些政策推高美國能源價格、損害經濟競爭力。 無獨有偶，英國前首相貝理雅近日也呼籲執政 工黨同僚重新思考淨零排放目標，並指出「任何 基於短期內淘汰化石燃料或限制消費的戰略都 不切實際」。 國際政治氣候正向實用主義轉變，各國在維持 減碳目標的同時，更加關注政策的可執行性、對 企業特別是中小企的影響，以及普通民眾能否負 擔相關成本。然而，這種調整並非推翻氣候議題， 反而是實現政策有效落地的必要修正：綠色轉型 必須兼顧經濟現實和企業負擔能力。在此背景下， 歐盟議會剛於5月通過的《可持續綜合簡化方案》 （Omnibus Simplification Package），正是在市場承受 能力與政策理想間尋求平衡的典範。 歐盟簡化合規要求 為企業拆牆鬆綁 面對全球綠色政策浪潮，各地政府紛紛推出不同 環保法規以期達致減碳目標，歐盟推出的一系列 綠色新政無疑是當中規模最廣泛的。儘管當前環 球經濟局勢動蕩不斷，企業仍咬緊牙關加速業務 合規進程，務求保持在歐美市場的競爭力。惟歐 盟自2019年提出的綠色新政極其繁複，為歐洲企 業以及受影響的港資製造企業都帶來了沉重的合 規負擔和成本壓力。 歐盟此次推出的簡化方案草案針對碳邊境調整機 制（CBAM）、企業可持續發展報告指令（CSRD）、 Global green policy is undergoing significant recalibration. With President of the United States Donald Trump’s return to the White House, there has been a notable shift in climate strategies as he announced the termination of Biden administration’s Green New Deal, criticising these policies for driving up American energy prices and undermining economic competitiveness. Similarly, former British Prime Minister Tony Blair recently urged his Labour Party colleagues to reconsider net-zero emission targets, asserting that “any strategy based on either ‘phasing out’ fossil fuels in the short term or limiting consumption is a strategy doomed to fail”. The global political climate is pivoting toward pragmatism. While maintaining carbon reduction goals, nations are increasingly focused on policy feasibility, impacts on businesses, especially SMEs, and affordability of rising costs for the general public. However, these adjustments do not abandon climate objectives; rather, they represent necessary refinements to ensure effective implementation: green transformation must take economic realities and business capacity into account. Against this backdrop, the European Parliament’s recent approval of the Omnibus Simplification Package in May exemplifies the search for equilibrium between market capabilities and policy aspirations. EU Easing Green Compliance Burden In response to the global surge of green regulations, governments worldwide have enacted various environmental measures to meet carbon reduction goals, with the EU’s series of Green Deal initiatives undoubtedly being the most extensive. Despite ongoing economic turbulence, companies are striving to accelerate compliance processes to maintain their competitive edge in Western markets. However, the intricate regulations introduced by the EU since 2019 have imposed significant compliance burdens and cost pressures on both European and Hong Kong manufacturing enterprises. The Omnibus Simplification Package makes adjustments to the Carbon Border Adjustment Mechanism (CBAM), the Corporate Sustainability Reporting Directive (CSRD), the JACKIE NG 吳慧君 DEPUTY CHAIRMAN 副主席 EXECUTIVE DEPUTY CHAIRMAN 常務副主席 14 | 5-7/2025
Corporate Sustainability Due Diligence Directive (CSDDD) and the EU Timber Regulation (EUTR). These changes are expected to reduce administrative burdens for EU businesses by 25%, while SMEs could see compliance costs decrease by up to 35%. For Asia-Pacific manufacturers who have been bearing cost pressures passed on by EU importers, this undoubtedly comes as timely relief. Significantly, the revisions to CBAM include exempting small importers of CBAM inscope products from regulatory requirements, freeing approximately 90% of importers from reporting duties while still covering more than 99% of the embedded emissions, ensuring the carbon reduction targets remain unaffected. The package also simplifies compliance procedures by allowing companies to offset CBAM certificates with carbon fees paid in third countries. Moreover, the obligation to purchase CBAM certificates has been postponed from January 2026 to February 2027, easing compliance challenges and alleviating cash flow pressures on affected businesses. Proactive Planning Secures Green Advantages The EU’s policy adjustments should not be viewed as a retreat from green transformation, but rather as a pragmatic recalibration of policy execution. Enterprises should view this as a signal to accelerate deployment, rather than an excuse to delay preparations. A recent Deloitte survey revealed that only 6% of German firms can fully comply with CBAM requirements, with over half of them facing compliance challenges due to insufficient data. In parallel, a survey from FHKI indicated that only about 30% of companies are implementing complex ESG measures like carbon audits, highlighting a gap in necessary skills and data management. Strictly business, proactive carbon management is essential not only for compliance but also for maintaining market competitiveness. Leading firms have already incorporated carbon footprint considerations into their supply chain management and product differentiation strategies. Businesses that achieve early compliance will gain first-mover advantages in the European market. Carbon Markets: Hong Kong’s New Frontier For Hong Kong, the EU’s allowance for importers to offset CBAM certificates with carbon prices paid in third countries presents a unique opportunity to develop carbon financial markets. As a pivotal commercial hub linking Mainland and international markets, Hong Kong is well-positioned to establish the Asia-Pacific’s leading carbon trading platform, providing essential carbon management tools and financing options for regional manufacturers. We urge the HKSAR Government to strengthen integration with Mainland carbon markets, equipping businesses with more robust risk management solutions. The EU policy simplification embodies a pragmatic approach of “reducing pressure while maintaining momentum”, paving the way for a more feasible global green transformation. FHKI encourages Hong Kong businesses to adapt to these evolving trends, strategically enhance their carbon management capabilities, and solidify their competitive advantages during this transition. FHKI has also launched a project, “Facilitating Environmental, Social, and Governance compliance in supply chain management for Hong Kong-invested manufacturing enterprises”, developing carbon management guidelines and online tools that integrate the latest disclosure and compliance requirements. We hope the industry remains well-informed and poised to seize early opportunities in the global green economy. 企業可持續發展盡職調查指令（CSDDD），以及木 材法案（EUTR）作出調整，預計將為歐盟企業減少 25%的行政負擔、中小企業更可減輕35%的合規成 本，對於備受歐盟入口商轉嫁成本壓力的亞太製 造商而言，無疑是一場及時雨。 其中，針對CBAM的主要修訂，包括豁免小型CBAM 涵蓋產品進口商的合規責任，使約90%的進口商免於 合規義務，但仍能涵蓋99%的相關碳排放量，確保 減排目標不受影響；並簡化合規程序，企業抵減 CBAM憑證，不再只限於產品原產國的碳費，允許 企業用在第三國已繳的碳費來抵減CBAM憑證。 此外，CBAM的憑證購買義務亦將由2026年1月推延 至2027年2月，方案草案相信可為受影響企業減低 合規困難程度及成本，同時紓緩企業現金流壓力。 企業需未雨綢繆 搶佔轉型先機 歐盟這次政策調整並不代表綠色轉型的倒退，而 是對執行方法的務實修正。企業應將此視為加速 部署的信號，而非放緩準備的理由。德勤的調查顯 示，目前僅6%的德國企業能完全滿足CBAM要求， 超過半數企業因數據不足而面臨合規挑戰。工總 早前的調查亦顯示，只有約三成企業正實行碳 審計這類較為複雜的ESG措施，不少企業表示員工 缺乏ESG技能，且未有完善ESG數據管理模式，相信 需要更多的時間調整業務實行碳管理。 從商業角度看，提前部署碳管理不僅是合規需要， 更是市場競爭力的關鍵。領先企業已開始將碳足跡 納入供應鏈管理和產品差異化策略，率先合規的 企業將在歐洲市場贏得先發優勢。 把握黃金窗口 發展區域碳市場 對香港而言，歐盟允許進口商以在第三國支付之 碳價抵減CBAM憑證，開啟了發展碳金融市場的 黃金窗口。作為連接內地與國際市場的商業樞紐， 香港可建立亞太區領先的碳交易平台，為區內 製造業提供碳管理工具和融資渠道。我們建議 特區政府加快推動與內地碳市場的互聯互通，為 企業提供更豐富的風險管理工具。 歐盟的政策簡化體現了「減壓不減速」的務實 理念，為全球綠色轉型提供了更可行的落地路徑。 工總鼓勵香港企業積極適應這一趨勢變化，前瞻 布局碳管理能力，在轉型過程中鞏固競爭優勢。 工總亦已開展「促進港資製造企業供應鏈的環境、 社會和管治合規管理」項目，透過制定碳管理指引 及網上平台，整合碳管理最新披露及合規要求， 期望業界能全面掌握最新動態，在全球綠色經濟 格局中贏得先機。 5-7/2025 | 15
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