China News Live: Webank technology services and Fusion Bank win international fintech award for core banking system

WeBank Technology Services and Fusion Bank were jointly awarded the Best Core Banking Technology Initiative (Small Bank) in Asia Pacific for their collaborated project, the Next-Generation Core Banking System, at the TAB Global Financial Technology Innovation Awards 2025 ceremony held by The Asian Banker on May 22, as per a report in AP. The TAB Global Financial Technology Innovation Awards are recognized as one of the most prestigious benchmarks for technology innovation leadership.

Guam Governor Lourdes A. Leon Guerrero is making her first visit to Taiwan since taking office in 2019, a trip occurring this week that underscores the U.S. Pacific territory's critical role in any hypothetical Chinese military action against the self-governing island, as per a report in AP. In the period since Governor Leon Guerrero's inauguration, China has significantly escalated its military threat towards Taiwan, developing new ships, missiles, and warplanes, leading military planners to consistently incorporate Guam and its substantial U.S. military presence into their war-gaming scenarios.

Luxury Group by Marriott International recently launched 'Heartbeat of a Destination,' a storytelling campaign in Greater China anchored by a three-part video series, as per a report in AP. The series explores celebrated destinations such as Hong Kong, Shanghai, and Jiuzhaigou, focusing on hotel associates who interact with the locale to represent how each hotel is immersed in the spirit of place.

Peru's economy ministry announced on Monday, May 26, 2025, or a Monday within the preceding seven days, its intention to pursue a high-level meeting with China and Brazil to advance a proposed bi-oceanic railway, Reuters says in a report. Peru's Economy Minister, Raul Perez Reyes, who currently holds this position, met with China's ambassador to Peru. During their discussion, the ambassador suggested that a meeting between the leaders of the three countries would be instrumental in defining a joint roadmap for the regional rail corridor project.

Shares of Chinese electric vehicle manufacturers declined after industry leader BYD announced a new round of price cuts for its models in the past week, fueling fears of an escalating 'rat race' price war in China's competitive EV market, Financial Times said in a report. This development unfolds against a backdrop of China's broader economic slowdown and a crowded EV landscape shaped by previous government support. The intensified price competition is expected to pressure other EV makers and could accelerate industry consolidation.

The European Union has found that fast-fashion retailer Shein's presentation of discounts potentially breaches consumer law, giving the company one month from late May 2025 to respond to these preliminary findings or face fines based on its sales volume within the bloc, as per a report in BBC. The EU's concerns center on potentially misleading discount practices, likely under the Unfair Commercial Practices Directive. Shein must propose corrective measures within this timeframe to avoid further action, which could include significant financial penalties.

Heineken is strategically expanding its presence in China's growing premium beer market by leveraging its partnership with China Resources Beer (CR Beer), the country's largest brewer, FT said in a report. This collaboration involves CR Beer licensing the Heineken brand and utilizing its extensive distribution network to reach affluent consumers who are increasingly opting for higher-priced beers over traditional lagers. This move aligns with China's 'dual circulation' economic strategy, which emphasizes boosting domestic consumption, and highlights continued European corporate investment in the Chinese market.

China is reportedly advancing plans for significant mergers within its banking and securities industries to create global financial powerhouses, a strategy aimed at better equipping these institutions to handle economic crises and accelerate their consolidation, according to a report in Financial Times. This initiative is viewed as part of Beijing's broader push to increase state control over the financial sector, enhance economic stability amidst a slowdown, and develop national champions for global competition. The move aligns with previous state actions, like crackdowns on private firms, and policies such as "Common Prosperity," underscoring efforts to bolster state-owned enterprises. While designed for resilience, experts highlight potential drawbacks including reduced market efficiency, the emergence of "too big to fail" entities under state command, and significant geopolitical consequences, such as increased financial influence for China.

A significant shift in tourism dynamics is underway in Hong Kong, with an increasing number of 'special forces' tourists from mainland China visiting the city but spending minimally, a trend highlighted in a report by Financial Times. These cost-conscious day-trippers, focused on maximizing experiences while minimizing expenditure, are replacing the high-spending luxury shoppers that historically buoyed Hong Kong's retail sector. This change, occurring amidst Hong Kong's post-COVID tourism revival efforts and influenced by mainland China's economic slowdown (a past and ongoing factor) and the political changes following the 2020 National Security Law (a past event), poses considerable challenges for the city's economy, particularly its retail businesses, which now face pressure to adapt to a new demographic of visitors.

China's military build-up has significantly enhanced its capacity to rapidly transition from peacetime conditions to offensive operations against Taiwan, officials have reported, as per a report in Financial Times. This development, noted from observations within the past seven days, suggests a reduced strategic warning time due to improvements in the People's Liberation Army's joint operations, logistics, and overall readiness for a potential conflict. The capability for a swifter mobilization complicates defense planning for Taiwan and its allies, heightening regional security concerns.

Guam Governor Lou Leon Guerrero undertook a visit to Taiwan within the past week (ending May 26, 2025), a development that underscores the US territory's pivotal strategic position, particularly in the event of a hypothetical Chinese invasion of Taiwan, Associated Press said in a report. This visit is significant as Guam, an unincorporated territory of the United States, hosts major US military installations, including Andersen Air Force Base and Naval Base Guam, positioning it as a critical forward operating base for the United States in the Indo-Pacific, essential for logistics, command, and power projection in such a scenario. This engagement occurs amid ongoing heightened cross-strait tensions and is interpreted as a signal of US support for Taiwan and commitment to regional security, though it is anticipated that Beijing will view the visit as a provocative action.

The emergence of AI company DeepSeek is causing significant disruption within China's technology landscape, challenging established domestic giants like Baidu, Alibaba, and Tencent, in addition to international players like OpenAI, according to a report in CNN. This development highlights intense internal competition within China's AI sector, a trend occurring despite ongoing US export controls on advanced semiconductors. The Chinese government's strategic push for AI leadership provides a backdrop for this competitive surge, which analysts suggest validates Beijing's aim to foster domestic innovation while also presenting new regulatory and market management complexities. This shift indicates a maturation of China's tech market, potentially leading to faster innovation cycles but also raising questions about the sustainability of such hyper-competition.

Xi Jinping, in his capacity as Chairman of the Central Military Commission, recently signed an order enacting new regulations designed to protect the security of important military-industrial facilities, ensure their effective use, and maintain normal operations, all while advancing the country's national defense modernization, Xinhua News Agency said in a report. These facilities, encompassing research and development centers, testing sites, and other critical infrastructure, are vital for China's defense production and capability. The move occurs amidst rising geopolitical tensions in the Indo-Pacific and aligns with China's long-term military modernization ambitions (goals for 2035 and 2049 were stated in the past) and its current heightened emphasis on national security and self-reliance under Xi's leadership. Experts suggest this directive aims to safeguard strategic assets and further consolidates the Chinese Communist Party's oversight of the defense sector.

China recently hosted a kick-boxing competition featuring humanoid robots trading punches, an event highlighted as a world-first for showcasing human-like robotic forms in such a sport, according to a report in BBC News. This demonstration aligns with China's national strategy to become a global leader in artificial intelligence and robotics by 2030 and reflects significant state-influenced investment in high-tech sectors. The event occurs within a context of intense global technological competition, particularly with the United States. Experts view this not merely as entertainment but as a display of state-backed technological capability, noting the underlying advancements in complex movement and interaction have potential dual-use applications, including military, and signify progress in China's targeted high-tech growth areas.

Fox News contributor Pete Hegseth, whose current role is a media personality, has publicly denied a recent Chinese assertion that an unspecified US military-related entity or symbol referred to as the "Golden Dome" is ‘offensive’, as per a report in Fox News. This denial, which the report links to the Pentagon, reportedly occurred within the seven days prior to May 26, 2025. The incident takes place amid broader, ongoing US-China strategic competition, which includes increased military posturing and information warfare. Specific details concerning the "Golden Dome" and the precise source or wording of China's claim were not provided in the initial report.

Kyiv's intelligence chief has accused China of directly aiding Russia's arms industry, a significant allegation reported within the last seven days that directly challenges Beijing's official stance of neutrality in the ongoing conflict, as per a report in Al Jazeera. This accusation follows previous warnings from the United States and European officials regarding potential Chinese material support for Russia's war effort, particularly concerning dual-use goods and technology that could bolster Russia's military-industrial complex. The alleged support, if confirmed, could undermine extensive Western sanctions against Russia and carries substantial political implications for China, potentially straining its relations with Western nations and impacting its image as a neutral party.

The chief executive of HKBN has deemed state-owned China Mobile's HK$7.8 billion ($996.1 million) takeover offer for the broadband operator as not good enough, and has indicated that the Hong Kong-based company is open to engaging with more bidders to achieve the best value for its shareholders, Reuters said in a report. This development follows China Mobile's offer for HKBN at HK$5.23 a share, which was made in December; Reuters had also reported on this situation last Friday, May 23, 2025.

The Philippines is open to additional agreements with Beijing to maintain peace in the South China Sea, its top diplomat, Secretary of Foreign Affairs Enrique Manalo, announced within the past seven days, as per a report in Reuters. This statement comes amid ongoing confrontations between the two countries over disputed features in the vital trade route, which sees about $3 trillion of annual ship-borne commerce. The context for this diplomatic initiative includes persistent tensions, highlighted by past encounters near Second Thomas Shoal, and China's continued rejection of the 2016 arbitral ruling which invalidated its expansive claims – a ruling Beijing has historically dismissed. Simultaneously, the Philippines has been enhancing its security partnerships with the United States, Japan, and Australia.

China is actively considering new economic policy instruments to navigate what Chinese Premier Li Qiang described as a 'severe impact' on the international economic and trade order, Reuters said in a report. Speaking at a symposium with Chinese firms in Jakarta over the weekend (May 24-25, 2025), Premier Li highlighted that the 'fragmentation of industrial and supply chains has deepened, and trade barriers have increased,' significantly affecting global economic development. This move is seen as a response to ongoing global supply chain diversification efforts, US-China trade and technology restrictions, and China's own domestic economic pressures, though the specific 'new policy tools' were not detailed in the announcement.

The world's poorest countries are due to make record debt repayments to China in 2025, stemming from loans extended a decade prior at the peak of Beijing's Belt and Road Initiative (BRI), as per a report in Reuters. This assessment, from a report released on Monday by the Sydney-based Lowy Institute think tank, highlights that under the BRI, launched by Chinese President Xi Jinping (current President of the People's Republic of China) in 2013 (a past event), Beijing lent billions of dollars for infrastructure development.

Leaders from the Association of Southeast Asian Nations (ASEAN), the Gulf Cooperation Council (GCC), and China will hold a summit in Kuala Lumpur, Malaysia, on May 27, 2025, from 07:00 to 08:25 GMT, as per a report in Reuters. This high-level meeting is seen as an opportunity for China to strengthen ties with two key regional blocs, promote its economic influence through initiatives like the Belt and Road Initiative, and potentially counter perceived US influence. For ASEAN and GCC member states, the summit offers a platform to engage collectively with China, discuss regional issues, attract investment, and support economic diversification efforts. The trilateral format, less common than bilateral engagements, suggests a specific agenda focused on areas of mutual interest such as economic cooperation, connectivity, and potentially broader geopolitical alignment, occurring in a context of increasing strategic competition. Broadcast and digital distribution of the summit proceedings are restricted to editorial use only, with no sales or archiving permitted.

CNOOC Limited's Mero4 project commenced production safely on May 24, Brazil time, AP said in a report. The Mero field, where the project is located, is situated in the Santos Basin pre-salt area, approximately 180 kilometers offshore Rio de Janeiro, Brazil, in water depths between 1,800 and 2,100 meters. The Mero4 Project is being developed using the FPSO (Floating Production Storage and Offloading) and Subsea development model. CNOOC Limited is a Chinese state-controlled oil and gas company; while it is a participant in the Mero field and operator of Mero4, Brazil's state-controlled Petrobras is the overall operator of the Mero Unitized Field, which also involves other international partners.

Marriott International's Luxury Group recently unveiled its "Heartbeat of a Destination" campaign in Greater China, a storytelling initiative centered around a three-part video series, as per a report in AP. This campaign aims to explore celebrated destinations such as the urban landscapes of Hong Kong and Shanghai and the natural wonders of Jiuzhaigou, featuring hotel associates who embody the local spirit and connection to these places, thereby representing how each hotel is immersed in the unique character of its location.

Lourdes A. Leon Guerrero, the current Governor of Guam, is making her first visit to Taiwan since taking office in 2019, a trip occurring this week (week of May 19-26, 2025), AP said in a report. This visit underscores the US Pacific territory's significant strategic position, as military planners widely acknowledge Guam would be a crucial component in any scenario involving a Chinese military offensive against Taiwan. The engagement takes place against a backdrop of China having markedly increased its military capabilities and threatening posture towards Taiwan in recent years, deploying new naval vessels, missiles, and aircraft.

A university in China is under fire after allegedly requiring a student to lower her pants for a visual inspection to obtain menstrual pain leave, a method a legal expert has condemned as "degrading," calling for a public apology and compensation for the student, South China Morning Post said in a report. This controversial verification approach is considered highly unusual and is not believed to be a standard or legally mandated procedure for menstrual leave in China, sparking concerns about student privacy and dignity within educational institutions.

Former economic official Xu Lin has suggested China should deliberate a 4% GDP target for the 2026-2030 period, emphasizing that this growth is feasible if job creation is robust and debt is effectively contained, as per a report in South China Morning Post. Xu Lin, who previously served as head of the Department of Development Planning at the National Development and Reform Commission, stressed the importance of prioritizing employment and managing financial liabilities during these upcoming five years.

Lourdes A. Leon Guerrero, Governor of Guam, is making her first visit to Taiwan this week since taking office in 2019 (a past event), a development underscoring the US Pacific territory's critical part in any potential Chinese military action against the self-governing island, as per a report in AP. Military planners consistently factor Guam into their strategic war gaming due to its significant US military presence, particularly as China has markedly increased its military threat towards Taiwan in recent years with new naval assets, missiles, and combat aircraft.

A world-first humanoid robot fighting event recently took place in China, featuring two robots engaging in a kick-boxing match before an audience, BBC said in a report. This event aligns with China's broader strategic objectives, including past initiatives like 'Made in China 2025' and current national AI development plans, underscoring its push for technological self-sufficiency and leadership in advanced sectors. The competition is also viewed within the context of the ongoing global tech rivalry, particularly with the United States, demonstrating China's progress. While the robots showcased are likely advanced, high-cost prototypes not yet ready for widespread application, the event signifies considerable state-linked investment and support for the strategically important robotics and AI industries. Experts suggest this public display highlights China's growing capabilities, potentially intensifying concerns among international competitors regarding the pace of its technological advancement and its implications for the economic and military balance.

Chinese researchers have found that sleep helps the brain enter a repair mode to clean up damaging free radicals, a discovery that could lead to new therapies for sleep disorders, as per a report in South China Morning Post. These findings are particularly significant for older people, who are more susceptible to sleep problems and associated increased disease risks. The study is highlighted as a result of China's substantial investment in scientific research and development, aligning with its strategic goals of advancing its technological capabilities and addressing public health concerns related to its rapidly aging population. This scientific advancement also occurs within the global landscape of international research competition and collaboration.

China is poised to deploy the world's first dedicated salmon-farming ship, a vessel expected to produce thousands of tonnes of salmon each year once it achieves stable operations in the disputed Yellow Sea later this year, South China Morning Post said in a report. This initiative is part of China's broader strategy to enhance food security, particularly in protein sources, and reflects its ambitions in technological modernization and advanced aquaculture. The operation of such a large vessel in the Yellow Sea, an area with overlapping maritime claims, also signifies China's increasing maritime presence.

Hong Kong surgical robot developer Cornerstone is aiming to raise US$70 million to further develop its surgical robot systems, which it claims can effectively rival the market-leading da Vinci units while being offered at a lower cost, according to a report in South China Morning Post. The company's fundraising initiative is geared towards enhancing its technological capabilities and expanding its presence in the competitive field of advanced medical robotics.

China intends to globally promote its advanced chest pain centre standards through Hong Kong, leveraging the city's international connections for this outreach, according to a report in South China Morning Post. Beijing has pledged its support for Hong Kong in providing healthcare services to the world, a move positioned as a response to what China describes as rising unilateralism. This initiative aligns with broader strategies such as Greater Bay Area integration and China's push to establish its standards globally, thereby enhancing its soft power and influence in international health. Hong Kong's role is framed as a 'bridge,' facilitating mainland China's objectives, while the standards themselves originate from and are overseen by mainland authorities.

A Hong Kong Science and Technology Parks Corporation (HKSTP) delegation traveled to Beijing between May 18 and 20, 2025, to attract technology enterprises and talent to Hong Kong, as per a report in AP. The delegation, which included HKSTP Chief Executive Officer Huang Keqiang, Chief Talent Officer Wang Xiuli, and Director of Startup Ecosystem Cultivation and Development Nian Qingze, met with local tech company representatives, association delegates, and academic leaders. They also conducted seminars at Peking University and Tsinghua University, engaging nearly 200 students on Hong Kong's innovation and technology (I&T) prospects, including startup, internship, and employment opportunities, encouraging them to contribute to national I&T development. Huang Keqiang, in his current role as CEO, highlighted Hong Kong's advantage of being 'backed by the motherland, connected to the world,' while Wang Xiuli, the current Chief Talent Officer, reiterated HKSTP's dedication to cultivating a diverse I&T ecosystem.

Officials and experts stated on Sunday, May 26, 2025, that the advancement of the Regional Comprehensive Economic Partnership (RCEP) agreement to a higher level and broader coverage will significantly bolster economic growth across the Asia-Pacific region, AP said in a report. They further indicated that this development of the mega trade pact, which covers 30 percent of the world's total population and economic output, is crucial for stabilizing a fracturing world trade system and should play an even more significant role in championing free trade and mutual benefits.

Chinese smartphone sub-brand iQOO officially launched its Neo 10 model in Dongguan, China, on May 26, 2025, touting a powerful dual-chip configuration with a flagship-grade Snapdragon platform and a proprietary Supercomputing Chip, alongside a large-capacity battery with FlashCharge technology and a high-refresh-rate display, as per a report in AP. This product debut is framed within China's broader strategy for technological self-reliance, exemplified by initiatives like 'Made in China 2025', and occurs amidst the ongoing US-China tech rivalry. The inclusion of a US-developed Snapdragon chip alongside a domestic Supercomputing Chip highlights both China's advancing design capabilities and its current interdependence on global technology supply chains. The launch in Dongguan also underscores the city's role as a critical electronics manufacturing hub, benefiting from supportive government policies.

Professor Yu Xiong, who holds a position in business analytics at the University of Surrey and is also a cryptocurrency entrepreneur, has reportedly forged connections within the UK parliament and met King Charles and Queen Camilla, raising concerns due to his apparent links to a Chinese Communist Party (CCP) influence group, as per a report in The Guardian. The report specifies that Prof. Xiong, whose current roles are listed as professor and entrepreneur, has attended approximately a dozen events in the House of Lords since 2022 and maintained regular contact with peers, including Baroness Uddin, who currently serves as a cross-bench member.

A university in China has drawn criticism for its policy requiring a student to lower her pants for a blood check to verify menstrual pain in order to obtain leave, a method a legal expert described as 'degrading,' as per a report in South China Morning Post. The expert further stated that the student deserves a public apology and financial compensation for the invasive procedure. This incident highlights concerns regarding student dignity and the implementation of welfare policies within educational institutions.

Renault is leveraging its Shanghai development center to create new car models for its Ampere and Renault brands, specifically targeting markets outside of Europe, as per a report in SCMP. This strategic decision highlights the Shanghai operation's role in developing vehicles for international sale, distinct from models intended solely for the European or Chinese domestic markets, positioning China as a global development hub for the automotive company.

Rita, an Indo-Pacific bottlenose dolphin, died at 24 at Hong Kong’s Ocean Park, where she had resided for 13 years after her relocation from Tunisia and had given birth to a male dolphin, Rati, according to a report in South China Morning Post. Her passing at the park, a key Hong Kong tourist attraction and a publicly supported corporation, occurs amidst ongoing efforts to revitalize the city's tourism and increasing public discussion around animal welfare standards at such establishments.

Amid market volatilities attributed to the ongoing US-China trade war, wealthy investors increasingly perceive it as a 'time to buy' Hong Kong stocks, as per a report in South China Morning Post. This sentiment, highlighted by Standard Chartered, indicates that affluent clients are diversifying their portfolios and shifting towards liquid assets such as stocks and bonds to navigate current market uncertainties.

China continues to push engineering boundaries by constructing some of the world's longest and most impressive mega-bridges, often in geographically hostile environments where others might not venture, as per a report in South China Morning Post. These projects, which frequently break world records, are presented as significant evidence of China's advanced technological capabilities and its drive for national self-reliance in critical sectors. Such large-scale infrastructure developments are often key components of the nation's economic stimulus measures, contribute to the Belt and Road Initiative by enhancing connectivity, and serve to demonstrate the Chinese Communist Party's ability to deliver complex projects, thereby fostering national pride.

On May 25, 2025, at the UN Global Compact's (UNGC) Inaugural Global Business Summit in Jakarta, Indonesia, a coalition of 24 leading global solar companies, featuring JA Solar, Jinko Solar, Tongwei, LONGi, GCL Group, and other key upstream suppliers, collectively unveiled the initiative for a 'Global Solar Sustainable Alliance (GSSA)', AP said in a report. The launch event was attended by distinguished leaders from government, industry, and academia, including Sanda Ojiambo, who currently serves as Assistant Secretary-General and CEO of the United Nations Global Compact. This alliance aims to promote sustainability within the global solar industry.

Hong Kong is currently experiencing a significant shift in tourism, with a recent surge, notable within the past seven days, of mainland Chinese visitors known colloquially as 'special forces' tourists who prioritize efficient, low-cost day trips over luxury shopping, according to a report in Financial Times. This trend marks a stark contrast to Hong Kong's historical reliance on high-spending mainland consumers and is negatively affecting its retail economy. The phenomenon is linked to mainland China's economic slowdown, which includes weak consumer confidence and deflationary pressures, alongside evolving Chinese consumer preferences that increasingly favor value and experiences over conspicuous consumption. The political environment in Hong Kong following the implementation of the National Security Law (a past event) may also influence visitor profiles. Despite government efforts to revive tourism, this new pattern of visitation delivers numbers but not substantial economic benefit to the retail sector, posing challenges for local businesses and the Hong Kong government's recovery plans.

Heineken is collaborating with China's biggest brewing company to penetrate more of the nation's expanding premium beer market, Financial Times said in a report. This strategic move allows the Dutch brewer to tap into the increasing consumer demand for higher-quality beer, aligning with China's 'Dual Circulation' economic strategy aimed at boosting domestic consumption and the government's push for a consumption upgrade towards premium goods. Such partnerships are often essential for foreign firms to effectively navigate the Chinese market and access high-growth sectors.

The ASC Student Supercomputer Challenge (ASC25) finals concluded at Qinghai University in Xining, China, on May 25, 2025, with Shanghai Jiao Tong University emerging as the champion and Peking University securing the silver prize, according to a report in AP. This success for the Chinese universities, among over 300 international teams, underscores China's significant investment and progress in high-performance computing (HPC) as part of its strategy for technological self-reliance and leadership in critical tech areas like artificial intelligence and advanced research.

Global payment and treasury management service provider SUNRATE recently secured three major awards at Mastercard's annual partner awards dinner: "New Service—MDES Service Enablement," "Outstanding Performance Award—B2B New Payment Field (Commercial Card)," and "New Mastercard Product—SUNRATE Corporate Card Program," as per a report in AP. This recognition underscores SUNRATE's leading position in the global payments sector. SUNRATE, which obtained Mastercard principal membership in 2020 (a past event), has since collaborated to issue Mastercard virtual commercial cards in multiple countries, supporting online payments and various NFC payment methods, including Apple Pay. Companies can customize card parameters such as transaction frequency, limits, and validity. In 2024 (a past event), the partnership expanded with the launch of a physical card, further broadening payment applications to global procurement and employee travel management.

A delegation from the Hong Kong Science Park Corporation (HKSTP) visited Beijing between May 18 and May 20, 2025, to actively recruit talent and businesses, aiming to strengthen ties with the Beijing innovation and technology (I&T) ecosystem, according to a report in AP. Led by HKSTP CEO Albert Wong, Chief Talent Officer Eliza Wang, and Director of Incubation and Ecosystem Development Chak Tsing Chak, the group met with local tech companies, associations, and academic leaders from Peking University and Tsinghua University. Briefing sessions were also conducted at these universities, engaging nearly 200 students on Hong Kong's I&T prospects, including startup, internship, and employment opportunities. Albert Wong, current CEO of HKSTP, emphasized Hong Kong's unique position of "backing the motherland while connecting the world," believing talent attracts enterprises. Eliza Wang, current Chief Talent Officer of HKSTP, reiterated the commitment to fostering a diverse I&T ecosystem and making Hong Kong a hub for international high-end talent.