Lawmakers Endorse Funding For Govt Revamp
"); jQuery("#212 h3").html("

"); });
2022-06-10 HKT 16:40
Legco's Finance Committee on Friday approved a funding request for the government restructuring plan that's costing an additional HK$95 million in salary each year.
Under the revamp, the number of policy bureaus will go up from the current 13 to 15; new deputies are added to the chief, financial and justice secretaries; and dozens more staff will be hired.
Seventy-three lawmakers voted in favour of the plan and one voted against, with two abstentions.
Some of those who were not in the chamber when the vote was held, such as Alice Mak of the Federation of Trade Unions, Priscilla Leung from the Business and Professionals Alliance and the DAB's Horace Cheung, have been tipped to join the incoming government as politically-appointed officials.
In supporting the funding request, DAB chairwoman Starry Lee said her party hopes the government can do a better job on planning by taking reference to the country's Five Year Plans.
Third Side lawmaker Tik Chi-yuen, who voted against the request, expressed reservations about the three new deputy secretary posts, saying officials have not explained clearly what their roles would be.
The restructuring sees the setting up of a new Culture, Sports and Tourism Bureau, while the Transport and Housing Bureau will be split into two and the Home Affairs Bureau will become the Home and Youth Affairs Bureau.
EDENA Unveils AI System To Automate Sovereign Asset Settlement
At the DAT Summit Hong Kong, EDENA Capital Partners launched the Autonomic Financial OS. The company describes it as an... Read more
Naver Exposes 15,000 Knowledge IN Users Activity, Moves To Improve Privacy Controls
Naver has announced measures following an incident in which around 15,000 users’ activity histories on Knowledge iN w... Read more
Japans PayPay Files For US IPO, Targets Valuation Above US$10B
SoftBank‘s digital payments unit, PayPay, has filed publicly for a US IPO. The listing could be the largest by a Japa... Read more
Inference Research Launches In Hong Kong With US$20M Seed Funding
Inference Research, an AI-native quantitative trading firm based in Hong Kong, has announced its launch and the expecte... Read more
London-Based Unlimit Appoints Michele Fung To Lead APAC Expansion
London-based fintech company Unlimit, which provides a broad range of financial technology services, has appointed Mich... Read more
SoFi Launches Digital Asset Trading In Hong Kong Through OSL Partnership
SoFi Securities (Hong Kong) (SoFi Hong Kong) and OSL Group have announced a partnership to offer digital asset trading ... Read more
