LegCo Subcommittee on Issues Relating to the Development of Web3 and Virtual Assets visits Hong Kong Web3 Festival
The following is issued on behalf of the Legislative Council Secretariat:
The Legislative Council Subcommittee on Issues Relating to the Development of Web3 and Virtual Assets visited the Hong Kong Web3 Festival being held at Hong Kong Convention and Exhibition Centre today (April 7) to gain insight into the latest developments in Web3 technology and cryptocurrency.
The Hong Kong Web3 Festival is one of the largest global Web3 events, connecting industry leaders to engage in keynote speeches and discussions, with a view to driving innovation and co-operation. Members received a briefing from representatives of the Hong Kong Web3 Festival on the key features of various stages, which had themes including blockchain infrastructure, crypto finance, as well as Web3 security and compliance, facilitating exchanges among members of the industries.
During the visit, Members also exchanged views with industry representatives on how to further promote the development of Web3 in Hong Kong.
Members who participated in the visit were the Chairman of the Subcommittee, Dr Johnny Ng, Subcommittee members Ms Elizabeth Quat, Mr Lam San-keung, Mr Duncan Chiu, and Mr Edmund Wong.
LegCo Subcommittee on Issues Relating to Development of Web3 and Virtual Assets visits Hong Kong Web3 Festival Source: HKSAR Government Press Releases
LegCo Subcommittee on Issues Relating to Development of Web3 and Virtual Assets visits Hong Kong Web3 Festival Source: HKSAR Government Press Releases
LegCo Subcommittee on Issues Relating to Development of Web3 and Virtual Assets visits Hong Kong Web3 Festival Source: HKSAR Government Press Releases
Opening remarks by SDEV on works policy areas at LegCo Finance Committee special meeting
Following are the opening remarks (English translation) by the Secretary for Development, Ms Bernadette Linn, on works policy areas at the special meeting of the Legislative Council (LegCo) Finance Committee today (April 10):
Chairman,
In 2025-26, the total estimated expenditure of Works Branch of the Development Bureau (DEVB) and its departments is about $24,578.4 million, which is about $1,294.5million higher than the revised estimate for last year. This is mainly because Works Branch and its departments have more projects involving capital expenditure, and the expenditure of such projects will vary in accordance with the changes in demand and cash flow each year. In this session of the special meetings of Finance Committee, I will highlight the work of the DEVB in the works portfolio.
Controlling costs of public works projects and enhancing cost-effectiveness
Land and infrastructure development are important investments for the long-term development of Hong Kong. While taking forward the development projects, we have to endeavour to control the costs of public works projects and take measures in four major directions.
First, we will enhance our project procurement models, one of the measures is the adoption of centralised procurement. We will take the lead in formulating specific centralised procurement options for two types of construction products, namely Modular Integrated Construction (MiC) modules and steel reinforcement within this year.
Second, we have commissioned the Building Technology Research Institute to review and enhance Hong Kong's building standards, and compare and complement the differences in testing and certification requirements between standards in different regions, with a view to promoting local application of high-quality and cost-effective construction materials from the Mainland and overseas.
Third, we will continue to take the lead in expediting the promotion of construction digitalisation and applied research and development, and advocate advanced technologies such as high productivity construction to reduce manpower demand and enhance cost-effectiveness. We will also step up promotion of advanced construction technologies through the Construction Innovation and Technology Fund.
Fourth, the DEVB will, in collaboration with various policy bureaux/departments, continue to take forward measures of streamlining development control, including promoting self‑certification, introducing more arrangements for phased submission of information, reviewing the need for submitting various technical assessments, and streamlining land administration process and approval process, etc.
Promoting professional development of construction industry
Another major work is promoting professional development of construction industry as we need talent at different levels to sustain the development of our construction industry. We have set aside $15million for the work of the Centre of Excellence for Major Project Leaders (CoE) over the next two years to enhance the professionalism, innovation capabilities and cost-effectiveness management of the construction industry. The courses of the CoE will facilitate exchanges transcending geographical and sectoral boundaries.
We will also extend the On-the-job Training Subsidy Pilot Scheme. In the past two academic years, about 1000 higher diploma graduates were subsidised to enrol in part-time construction-related degree programmes under the scheme. To assist more young people in grasping opportunities for upward mobility, we and the Construction Industry Council (CIC) will jointly allocate funding totalling about $95million to continue the provision of on-the-job training subsidies over the next two academic years. The subsidy amount is the same as that before. It is anticipated to benefit an additional 1000 employed trainees.
Noting that there has been a reduction in private construction output recently, we have launched another measure to subsidise employers to employ and retain young construction graduates for the sustained development of the talent pool of the industry. The CIC will allocate around $150million to provide on-the-job training for about 2500 graduates of degree in engineering, architecture, surveying, planning and landscape architecture, and assist them in attaining professional qualifications. This subsidy scheme has been open for application from last month.
Promoting co-operation with the Mainland/ Greater Bay Area (GBA) in construction industry
Another major work related to the construction industry is promoting co-operation among the construction sectors in Hong Kong, the Mainland, as well as the GBA, in order to tie in with the strategy of high-quality development of Guangdong-Hong Kong-Macao GBA.
We have co-operated with Mainland authorities and local professional bodies, and successfully sought recognition of qualifications in the Mainland for professionals of Hong Kong's construction industry, i.e. Professional Title. Last year, pilot evaluation was successfully implemented in five engineering disciplines, with 207 Hong Kong engineers obtaining Mainland Professional Title qualifications through the mechanism as of now. The evaluation mechanism will be regularised in the middle of this year, and its coverage will be expanded to other construction-related disciplines, creating favourable conditions for their development in the Mainland.
The governments of Guangdong, Hong Kong and Macao are also actively pressing ahead with the formulation of GBA standards and taking forward the "One Examination, Multiple Certification" arrangement. We will mainly follow the higher standards among the three places and cover the key elements in the individual syllabuses of the three places, so as to uplift the training quality of the construction industry in the whole GBA.
We piloted the GBA standards and took forward the "One Examination, Multiple Certification" for painters and bricklayers last month, and will establish the GBA standards for the first technician position on a trial basis later this year. Guangdong, Hong Kong and Macao will take forward the above arrangement for more trades of the construction industry progressively, taking into account the implementation experience and situations.
In addition, we are collaborating with the Department of Housing and Urban-Rural Development of Guangdong Province to actively leverage complementary advantages of Modular Integrated Construction methods and develop MiC as an industry in the GBA. Efforts will be dedicated to research and development, quality accreditation and international marketing of MiC.
Conclusion
There are other tasks of the works portfolio, including water supply, heritage conservation, delivery of major infrastructure projects, etc. Relevant details have been provided in the Controlling Officer's Reports and multiple questions have been answered. My team and I shall be happy to respond to further questions from Members.
