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Policy Address measures highlighted

Secretary for Commerce & Economic Development Edward Yau today briefed members of the Trade & Industry Advisory Board on initiatives related to commerce and trade in the 2021 Policy Address.   Mr Yau said the Policy Address focuses on integration into national development and states that the developments of Hong Kong and the nation are closely related.   While the nation is the major growth engine and driving force for the global economy, the 14th Five-Year Plan, the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, the Qianhai plan, the economic development pattern of not only greater domestic circulation but also domestic and international dual circulation, as well as the Belt & Road Initiative have brought unlimited opportunities for enterprises and professional services providers in Hong Kong.   The city must seize these opportunities and leverage its advantages, Mr Yau noted.   During the meeting, the commerce chief stressed that Hong

Electric car supply key to transition

(To watch the full press conference with sign language interpretation, click here.)   The roadmap on the popularisation of electric vehicles to be announced next month will be a clear signal for car manufacturers and suppliers to prepare for the transition by increasing supply, Secretary for the Environment KS Wong said today.   At a press conference on the 2021-22 Budget initiatives this morning, Mr Wong pointed out that Hong Kong's target of phasing out conventional petrol private cars in 2035 or earlier was progressive.   “Regarding the phasing out of conventional private vehicles, our target is actually the most progressive in Asia, you have to understand that. And our target is that we would like to set the target of 2035 as the deadline.”   He noted that a good supply of electric vehicles in the private car industry will be a key factor during the transition.   "The meaning of that 2035 is to set a clear signal to car manufacturers and suppliers to Hong Kong that we would progressively support more electric private vehicles in Hong Kong, because in Hong Kong, one of the critical factors to go through this transition is to have a reasonable supply of electric vehicles in the private car sector. I think with this clear signal, there would be more and more supply so that we can review that target over time.”
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