Business, Tech Leaders Welcome Electoral Changes

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2021-03-31 HKT 18:41

Share this story

facebook

  • Business, tech leaders welcome electoral changes

Business and technology sector leaders emerged from government briefings about Beijing’s overhaul of Hong Kong’s electoral system on Wednesday full of praise for the changes.

The president of the Information Technology Joint Council, Duncan Chiu, said the Technology and Innovation sub-sector on the election committee – formerly known as the Information Technology sub-sector – will be better represented, even though its number of seats in the committee will remain unchanged at 30.

“By embodying more associations in the technology sector, not just IT, we actually have more representation in the area," he said.

Chiu added that they welcomed the decision to have "well-respected" local academics at mainland institutions – including former University of Hong Kong vice-chancellor Patrick Cheng and chemistry professor Henry Wong – nominate half of the 30 representatives on the committee.

Chinese Manufacturers' Association president Allen Shi also said he welcomed the changes. Shi said he hoped the legislature will help improve the business environment now that it can operate more smoothly.

He said it's reasonable that a newly added commercial sector lawmaker will be selected by Chinese enterprises instead of SMEs, as there are a growing number of mainland enterprises in the SAR.

Secretary for Justice Teresa Cheng also met with members of the legal sector to explain the changes, which will see nine of the 30 members of the legal sub-sector nominated by local members of the China Law Society's council.

RECENT NEWS

HSBC Fined HK$4.2M Over Disclosure Breaches In Research Reports

The Securities and Futures Commission (SFC) has reprimanded and imposed a fine of HK$4.2 million on HSBC for breaching ... Read more

Philippines: The Hidden Fintech Gem You Cant Afford To Miss | Lito Villanueva

The Philippines is the fastest-growing digital economy and home to one of Southeast Asia’s most valuable fintech unic... Read more

SBI And Chainlink Partner On Blockchain And Digital Asset Use

SBI Group, one of Japan’s largest financial conglomerates with assets exceeding the equivalent of US$200 billion, has... Read more

China Considers Yuan-Backed Stablecoins To Advance Global Currency Push

China is considering permitting the use of yuan-backed stablecoins for the first time in a move that could support wide... Read more

Financial Sanctions: LSEG Risk Intelligence Answers Your Key Questions

Financial sanctions are essential government tools for achieving foreign policy objectives – and compliance is mandat... Read more

Korea Development Bank Leads $45M Bridge Round For Upstage

South Korea’s Upstage has secured a US$45 million Series B bridge round supported by Korea Development Bank (KDB), Am... Read more