Economic Policy CommitteeCommittee Activities


Understanding COVID-19 Vaccination

Members of the Government Task Force on COVID-19 Vaccination Programme Dr Leung Pak-yin, and Dr Tsang Ho-fai Thomas, explained how the vaccination programme would be rolled out and answered dozens of questions from the audience during a Chamber webinar on 25 January. Organized by HKGCC and PRPA, the webinar was followed by a press conference with HKGCC CEO George Leung. Reporters were eager understand the challenges of rolling out the scheme and its importance to safeguard the community and also the economy.


Advances in Treating Alzheimer's Disease

At a webinar on 13 January, Nancy Ip, the Vice-President for Research and Development and The Morningside Professor of Life Science at The Hong Kong University of Science and Technology, discussed the latest findings in Alzheimer’s research and new approaches for Alzheimer’s drug development. Ip, a world-renowned neuroscientist, also explained the genetic risk factors of the disease among Chinese people.


Enhancing Hong Kong's Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) Regime: New Regulatory Framework for VASP and DPMS

In 2019, Hong Kong became the first jurisdiction in the Asia Pacific region to pass an annual review conducted by the Financial Action Task Force (FATF) regarding the compliance and effectiveness of anti-money laundering and counter-terrorist financing (AML/CTF) regimes worldwide. 

The Hong Kong Government recently launched a public consultation on its plans to introduce a new framework to govern the activities of virtual asset service providers and dealers in precious metals and stones. The aim of this framework is to align Hong Kong’s existing regime with the latest international requirements from the FATF, a global inter-governmental agency.

Eureka Cheung, Principal Assistant Secretary for Financial Services at the Financial Services and the Treasury Bureau; Clara Chiu, Director of Licensing and Head of Fintech Unit, Intermediaries at the Securities and Futures Commission; and Grace Tang, Group Head (Financial Investigation Group), Syndicate Crimes Investigation Bureau from the Customs and Excise Department, explained the details of the consultation exercise at a webinar on 8 January, and took questions from members about the proposed changes.


What's Next for the Hong Kong Economy

We had a very interesting discussion about the economic prospects for Hong Kong at a Chamber webinar on 7 January 2021. Thanks to Government Economist Andrew Au and Professor Terence Chong of the Chinese University of Hong Kong for sharing their insights on the overall outlook, and Nicholas Kwan from HKTDC for his review of the trade aspect.
The speakers agreed that the outlook for 2021 will ultimately depend on the path of the pandemic, but if the coronavirus is brought under control we should see a return to growth. However, the worsening Covid situation in the United States and parts of Europe means that the global recovery may take some time, which will impact Hong Kong, as a highly externally driven economy. Better prospects can be seen in the Mainland, which has already returned to growth and is increasingly accessible to Hong Kong businesses through the Greater Bay Area.

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