Xinhua Confirms Hong Kong Cabinet Reshuffle
"); jQuery("#212 h3").html("

"); });
2020-04-22 HKT 11:24
The mainland’s state-run news agency, Xinhua, on Wednesday confirmed that the Hong Kong administration is undertaking a cabinet reshuffle.
The agency said the State Council has approved various appointments following nominations by the Chief Executive, Carrie Lam.
Reports had emerged locally about this on Tuesday, with the removal of Constitutional and Mainland Affairs Secretary Patrick Nip making the headlines as he was linked to an embarrassing government U-turn on the status and powers of Beijing's liaison office in Hong Kong.
Nip had said on social media on Monday night that he was very sorry for the "mistakes, confusion, and misunderstanding" caused by a series of contradictory press releases on the liaison office controversy that were released at the weekend.
Xinhua confirmed Tuesday’s media reports that Nip will now head the Civil Service Bureau and will be replaced by the current immigration director, Erick Tsang.
The state-run media also said that Under Secretary for Labour, Caspar Tsui, will become Secretary for Home Affairs, replacing Lau Kong-wah. The Director of Electrical and Mechanical Services, Alfred Sit, will head up the Innovation and Technology bureau, replacing Nicholas Yang.
The executive director of the Financial Services Development Council, Christopher Hui, will become Secretary for Financial Services and the Treasury, replacing James Lau.
The Chief Executive was scheduled to speak to the media about the reshuffle at noon.
HKMA Warns Of Fake Stablecoins As Licensed Issuers Have Yet To Launch Tokens
The Hong Kong Monetary Authority (HKMA) has warned the public about fake stablecoins in Hong Kong, specifically flaggin... Read more
Tazapay Secures Money Service Operator License In Hong Kong
Singapore-based cross-border payments company Tazapay has secured a Money Service Operator (MSO) license in Hong Kong. ... Read more
Livi Bank Posts First Full-Year Profit In 2025 As Loans Rise 49%
Hong Kong digital bank livi bank reported a full-year profit of HK$21 million for 2025. For the year, total operating i... Read more
FWD Group Reports US$720M In New Business Sales As Expansion Continues
FWD Group reported a 4% year-on-year increase in new business sales to US$720 million for the first quarter of 2026, dr... Read more
WeLab Bank 2025 Revenue Hits HK$942M After Securing First-Half Profitability
WeLab Bank achieved profitability in the first half of 2025 and reported a 35% year-on-year revenue increase to HK$942 ... Read more
Ripple And Kbank Roll Out Institutional Digital Asset Wallet In South Korea
Ripple has partnered with Kbank to deploy an institutional digital asset wallet in Korea, equipping the internet bank w... Read more
