Hong Kong Wine & Spirits Fair 2023: Duty Cuts Boost Liquor Trading Opportunities

2024-11-07 19:25 Last Updated At：21:58

Speech by FS at Hong Kong International Wine & Spirits Fair 2024 (with photos/video)

Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong International Wine & Spirits Fair 2024 today (November 7):

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Speech by FS at Hong Kong International Wine & Spirits Fair 2024 Source: HKSAR Government Press Releases

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Speech by FS at Hong Kong International Wine & Spirits Fair 2024 Source: HKSAR Government Press Releases

Margaret (Executive Director of the Hong Kong Trade Development Council (TDC), Ms Margaret Fong), distinguished guests, ladies and gentlemen,

It is my pleasure to join you all at the Hong Kong International Wine & Spirits Fair 2024. For those travelling from abroad, a very warm welcome to Hong Kong.

The HKTDC has been organising this annual flagship event for 16 years, and the Fair this year is particularly special. For the first time, exhibitors trading liquor - approximately 20 per cent of the traders in this show - are benefitting from a reduction in liquor duty. As announced in the Chief Executive's Policy Address just a few weeks ago, the duty on liquor has been reduced from 100 per cent to just 10 per cent, for the portion of value above HK$200. We believe this change will stimulate high-end liquor trading and auctions in our city.

This is a timely initiative, as the production and consumption of wine and spirits in China have become increasingly vibrant and promising. Many Chinese baijiu (白酒) brands are looking to expand globally. Whisky consumption on the Mainland has surged as well, making it the world's fourth-largest whisky market by value last year.

Meanwhile, I am delighted that the Irish Whiskey Association is participating in this Fair for the first time. I have no doubt that many participants will ask about Irish coffee!

Hong Kong is the ideal location for your wine and spirits business. While our favourable tax regime - zero tax for wine, now lowered tax for liquor - is a clear advantage, what truly sets us apart is our status as a highly internationalised city, which facilitates the free flow of capital, people, and goods, coupled with highly efficient customs clearance, a comprehensive air and shipping network, advanced storage facilities, top-quality wine valuation services and a vibrant auction market. Here, you will find the right traders, partners, and business opportunities.

Finally, I would like to express my sincere gratitude to the HKTDC for organising this year's Hong Kong International Wine and Spirits Fair. I am especially pleased that this event not only serves as a highly successful B2B platform but will also welcome a diverse group of public visitors on Saturday. With talks, masterclasses, and competitions, it promises to be both entertaining and educational for wine and liquor lovers in our city and beyond.

I wish you all a rewarding three days at the Fair and a memorable weekend in Hong Kong, and the best of business in the time to come. Thank you.

Education Sector Encouraged to Promote Blood Donation Among Youth in Hong Kong

2024-11-07 21:22 Last Updated At：21:38

The Secretary for Education leads delegation of secondary school principals to visit Hong Kong Red Cross Blood Transfusion Service

The following is issued on behalf of the Hospital Authority:

To enhance awareness of blood donation within the academic community and to encourage youth participation, the Hong Kong Red Cross Blood Transfusion Service (BTS) invited the Secretary for Education, Dr Choi Yuk-lin, and the delegation of associations of secondary school heads to the BTS Headquarters today (November 7). The delegation toured the blood bank, laboratories, donor centre and education vehicle. The BTS provided an overview of its blood donation education initiatives, and facilitated a dialogue on strategies for promoting blood donation within schools. Dr Choi and the members of the delegation also gave blood after the tour, setting a role model for students in Hong Kong.

In her opening remarks, Dr Choi said, "Blood donation not only helps those in need in the community but also cultivates in students the correct values and attitudes such as care for society, willingness to help, and respect for life, becoming good citizens. This year, 10 secondary schools are awarded the Elite Partnership Award in recognition of their exemplary efforts in cultivating a culture of blood donation on campus, which is truly commendable. The Education Bureau (EDB) appeals to the education sector to encourage more students to actively take part in blood donation." The EDB fully supports the BTS's efforts in blood donation education. Dr Choi added that it is heartening to see the BTS has introduced innovative blood donation education programmes, raising awareness of blood donation among youngsters.

The Chief Executive and Medical Director of the BTS, Dr Lee Cheuk-kwong, addressed that, "In an aging society, the recruitment of new blood donors is of paramount importance. Young donor education is prioritised in blood donation promotion." He added that, the BTS's educational initiatives integrate holistic education and life planning. For example, the "Learn About Blood Tour" launched in 2022 invited students to visit the Centre's blood bank to explore the blood production process and gain insights into the related medical and laboratory professions. Additionally, to cultivate a habit of regular blood donation, the BTS recognised young donors under 25 who have donated blood three or more times during campus donation events by presenting them with "Young Donor Medal". Furthermore, promotion vehicle was deployed to campus donation drives and school representatives were invited to visit featured donor centre, aiming to attract more young donors through diverse activities.

The BTS calls upon all members of the academia to continue supporting blood donation activities, and groom our next generation to be regular donors. For more information on academic blood donation programmes, please visit the BTS website: www.ha.org.hk/rcbts.

Hong Kong Wine & Spirits Fair 2023: Duty Cuts Boost Liquor Trading Opportunities

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