image_pdfimage_print

Author Archives: hksar gov

Hong Kong Customs combats claw-machine shops offering counterfeit dolls (with photos)

     Hong Kong Customs conducted a territory-wide operation codenamed “Octopus” from June 5 to yesterday (June 13) to combat claw-machine shops offering counterfeit dolls. A total of about 2 700 suspected counterfeit dolls and other relevant items with an estimated market value of about $300,000 were seized. 

     Customs earlier received information alleging that counterfeit dolls were being offered at claw-machine shops in the market. Customs officers later conducted patrols in different districts. After further investigation with the assistance of a trademark owner, Customs officers raided six claw-machine shops in Chai Wan, Lam Tin, Mong Kok, Tuen Mun and Tin Shui Wai as well as a storage facility in San Po Kong during the period. A total of about 2 700 suspected counterfeit dolls and other suspected counterfeit goods, 15 claw machines and five token changing machines were seized. 

     During the operation, three men and three women were arrested, including three shop owners and three staff members, aged between 26 and 50.

     Investigation is ongoing.

     The Divisional Commander (Intellectual Property General Investigation), Ms Peggy Tam, said at a press conference today (June 14) that Customs would continue to step up inspection and enforcement to fight against the use of counterfeit goods for the purpose of trade. She reminded consumers to check with the trademark owners or their authorised agents if the authenticity of a product is in doubt. 

     She also reminded traders to be cautious and prudent in merchandising since the possession of counterfeit goods for any purpose of trade is a serious crime and offenders are liable to criminal sanctions.

     Under the Trade Descriptions Ordinance, any person who sells or possesses for the purpose of trade any goods with a forged trademark commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years.
     â€‹
     Members of the public may report any suspected infringing activities to Customs’ 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk).

Photo  Photo  
read more

Analytical Accounts of Exchange Fund

The following is issued on behalf of the Hong Kong Monetary Authority: 
 
     The Hong Kong Monetary Authority (HKMA) released today (June 14) the key analytical accounts of the Exchange Fund at the end of May 2019.
 
     Foreign assets, representing the external assets of the Exchange Fund, increased during the month by HK$9.9 billion to HK$3,602.7 billion.
 
     The Monetary Base, comprising Certificates of Indebtedness, Government‑issued currency notes and coins in circulation, the balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HK$1,623.6 billion.
 
     Claims on the private sector in Hong Kong amounted to HK$247.3 billion.
 
     The analytical accounts of the Exchange Fund are released in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex).
 
*********************************************************

     At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month.  Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS).  The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency.  For the month of June 2019, the scheduled dates for issuing the press releases are as follows:
 

June 6
(Issued)
SDDS International Reserves
(Hong Kong’s Latest Foreign Currency Reserve Assets Figures)
 
June 14
 
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)
 
June 28 
 
 
SDDS Template on International Reserves and
Foreign Currency Liquidity
 
June 28 
 
Exchange Fund Abridged Balance Sheet and
Currency Board Account
 
  read more