Paul Chan Concludes New York Visit, Promotes Hong Kong as Global Wealth Management Hub and Startup Ecosystem.

FS completes visit to New York (with photos/video)

The Financial Secretary, Mr Paul Chan, completed his final day of visit in New York, the US, yesterday (October 24, New York time).

In the morning, Mr Chan held a breakfast meeting with representatives from several family offices, introducing Hong Kong's unique advantages as a global leading hub for asset and wealth management, as well as the latest developments in this field. He welcomed them to leverage Hong Kong's efficient and diverse capital markets, robust family office service network and ecosystem, and global business connections for wealth succession and developing family philanthropies, while exploring more investment opportunities in the Mainland and Asia.

Following that, Mr Chan visited the technology accelerator and venture capital platform Newlab, where he toured the startups they nurture and support. He also met with their staff in charge. Newlab focuses on incubating and accelerating deep tech and climate tech startups, facilitating their growth through public-private partnerships, investment matching, and promoting the commercialisation of research and development. The platform is considering expanding its business overseas and establishing more locations. Mr Chan mentioned that the Chief Executive recently announced the "Innovation and Technology Accelerator Pilot Scheme" in his Policy Address, aiming at attracting experienced professional startup service organisations, both local and overseas, to establish accelerator bases in Hong Kong to support the growth of startups. Currently, Hong Kong has over 4,200 startups, with a vibrant and active startup ecosystem, a full-chain fundraising market, and a listing system tailored for specialised tech companies. Furthermore, with ongoing deepening cooperation with the Guangdong-Hong Kong-Macao Greater Bay Area cities in innovation and technology, he welcomed the platform to set up a base in Hong Kong and explore collaboration opportunities.

Mr Chan departed from New York in the afternoon, heading back to Hong Kong, and is expected to arrive tonight (October 25, Hong Kong time).

FS completes visit to New York (with photos/video) Source: HKSAR Government Press Releases

FS completes visit to New York (with photos/video) Source: HKSAR Government Press Releases

FS completes visit to New York (with photos/video) Source: HKSAR Government Press Releases

FS completes visit to New York (with photos/video) Source: HKSAR Government Press Releases

FS completes visit to New York (with photos/video) Source: HKSAR Government Press Releases

Quality Assurance Council publishes report on quality audit of City University of Hong Kong

The following is issued on behalf of the University Grants Committee:

The Quality Assurance Council (QAC) under the University Grants Committee (UGC) today (October 25) published the report on the quality audit of City University of Hong Kong (CityU) in the third audit cycle.

CityU was the fifth university audited in the third audit cycle, which places an emphasis on how individual universities review and enhance their framework on academic standards and academic quality, academic programme development, teaching and learning, student learning assessment and support for students, as well as the collection, analysis and usage of data to inform such quality assurance processes.

The audit report presents the findings of the audit panel appointed by the QAC based on the self-evaluation report prepared by CityU and a series of audit meetings with staff, students and external stakeholders (such as employers) of the university held between February and March 2024. The audit report was endorsed by the UGC after being considered by the QAC.

The report identified a number of features of good practice and recommended actions with a view to encouraging CityU and the higher education sector as a whole to strive for continuous enhancement to their quality assurance regimes. The full audit report with the formal response from CityU is available on the QAC website (www.ugc.edu.hk/eng/qac/about/term/publications/report.html) for public access.

The QAC quality audits ascertain whether the arrangements for quality assurance adopted by universities are fit for purpose and comparable with international best practices. The QAC third audit cycle covers all programmes at the levels of sub-degree, first degree and above, however funded, leading to a qualification wholly or partly awarded by the UGC-funded universities.

The QAC expressed gratitude to CityU and all stakeholders for their support for the quality audit.