Exchange Fund Bills tender results

The following is issued on behalf of the Hong Kong Monetary Authority:

     Exchange Fund Bills tender results:
 

Tender date : June 11, 2019
Paper on offer : EF Bills
Issue number : Q1924
Issue date : June 12, 2019
Maturity date : September 11, 2019
Amount applied : HK$105,260 MN
Amount allotted : HK$46,226 MN
Average yield accepted : 1.92 PCT
Highest yield accepted : 1.96 PCT
Pro rata ratio : About 30 PCT
Average tender yield : 2.01 PCT
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Tender date : June 11, 2019
Paper on offer : EF Bills
Issue number : H1953
Issue date : June 12, 2019
Maturity date : December 11, 2019
Amount applied : HK$35,500 MN
Amount allotted : HK$9,000 MN
Average yield accepted : 1.87 PCT
Highest yield accepted : 1.88 PCT
Pro rata ratio : About 89 PCT
Average tender yield : 1.99 PCT
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Tender date : June 11, 2019
Paper on offer : EF Bills
Issue number : Y1990
Issue date : June 12, 2019
Maturity date : June 10, 2020
Amount applied : HK$10,620 MN
Amount allotted : HK$3,000 MN
Average yield accepted : 1.80 PCT
Highest yield accepted : 1.83 PCT
Pro rata ratio : About 96 PCT
Average tender yield : 1.98 PCT

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     Hong Kong Monetary Authority tenders to be held in the week beginning June 17, 2019:
 

Tender date : June 18, 2019
Paper on offer : EF Bills
Issue number : Q1925
Issue date : June 19, 2019
Maturity date : September 18, 2019
Tenor : 91 Days
Amount on offer : HK$43,485 MN
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Tender date : June 18, 2019
Paper on offer : EF Bills
Issue number : H1954
Issue date : June 19, 2019
Maturity date : December 18, 2019
Tenor : 182 Days
Amount on offer : HK$10,000 MN
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Tender date : June 21, 2019
Paper on offer : EF Bills
Issue number : M1903
Issue date : June 24, 2019
Maturity date : July 31, 2019
Tenor : 37 Days
Amount on offer : HK$1,000 MN



Effective Exchange Rate Index

     The effective exchange rate index for the Hong Kong dollar on Tuesday, June 11, 2019 is 105.3 (down 0.1 against yesterday's index).




EMSD signs MOC with academic and research institutions to promote innovation and technology (with photos)

     The Electrical and Mechanical Services Department (EMSD) today (June 11) signed a memorandum of co-operation (MOC) with five local universities and seven research institutions to establish a strategic partnership to support the application of innovation and technology (I&T) in government departments so as to improve their services and enhance efficiency.
 
     The Secretary for Innovation and Technology, Mr Nicholas W Yang, and the Director of Electrical and Mechanical Services, Mr Alfred Sit, witnessed the signing ceremony of the MOC. The areas of collaboration include promoting the use of the E&M InnoPortal, identifying I&T solutions for government departments and fostering knowledge and experience exchange, with a view to facilitating the application and development of I&T.
 
     Speaking at the ceremony, Mr Yang said that collaboration and partnership are key tenets for I&T development, fostering a new culture of collaboration among stakeholders. The universities, research and development (R&D) centres and start-ups in Hong Kong are never short of innovative technology solutions. What they need more is the culture that supports embracing I&T. The E&M InnoPortal of the EMSD and the Smart Government Innovation Lab of the Office of the Government Chief Information Officer are the platforms that the Government uses to boost innovation. Through public-private partnership, government departments are encouraged to adopt technologies and local R&D results with a view to delivering better public services and driving applied R&D that benefits the local community.
 
     Also addressing the ceremony, Mr Sit said he was very pleased that the EMSD had the opportunity to act as a facilitator to promote the application of new technologies and match the needs of government departments with I&T projects from start-ups through the E&M InnoPortal. He expressed the hope for pooling together local I&T efforts to provide appropriate innovation and technologies to society, and accelerate the implementation and testing of innovative solutions from universities and start-ups, thus creating an all-win situation.
 
     The universities signing the MOC are the Chinese University of Hong Kong, the City University of Hong Kong, the Hong Kong Polytechnic University, the University of Hong Kong and the Hong Kong University of Science and Technology, while research institutions are the Hong Kong Science and Technology Parks Corporation, the Hong Kong Cyberport Management Company Limited, the Hong Kong Productivity Council, the Hong Kong Applied Science and Technology Research Institute Company Limited, the Logistics and Supply Chain MultiTech R&D Centre, the Automotive Parts and Accessory Systems R&D Centre, and the Nano and Advanced Materials Institute Limited.
 
     For details of the E&M InnoPortal of the EMSD, please visit https://inno.emsd.gov.hk.

Photo  Photo  Photo  



Lifesaving services at Golden Beach resume

Attention TV/radio announcers:

Please broadcast the following as soon as possible and repeat it at regular intervals:

     Here is an item of interest to swimmers.

     The Leisure and Cultural Services Department has announced that the lifesaving services at Golden Beach in Tuen Mun District resumed today (June 11). The lifesaving services at the beach were suspended earlier due to an insufficient number of lifeguards on duty.




Transcript of remarks by CE at media session (with video)

     Following is the transcript of remarks by the Chief Executive, Mrs Carrie Lam, at a media session this morning (June 11):
 
Reporter: Mrs Lam, because people are saying that they are only going on strike or boycotting class, they are not taking any violent actions. So what do you think of the possible impact? Are you worried about that? And what do you make out of the fact that people have to take these actions simply because the Government is refusing to listen to their calls? And in regard to the extra safeguards not being written into the law, what happen if other jurisdictions simply violate these so-called promises? Would the Government do anything or maybe like stop extraditing to these jurisdictions in the future? And at this point, do you think your Government still has credibility or the trust of the people?
 
Chief Executive: First of all, I would not agree that we have not listened. As I said repeatedly over this exercise, we have been listening attentively to views expressed to us or in the public domain, and that’s why when we started off to do this exercise based on over 20 years of experience of implementing the Fugitive Offenders Ordinance (FOO), we felt and it was also reaffirmed to us by some of our counterparties that the FOO contains sufficient procedural and legal safeguards to deal with request for extradition. But because we have listened so attentively, we decided that we need to make further amendments to the proposals, so we have introduced two sets of amendments – one before the introduction of the bill and one after the introduction of the bill, especially for the six measures introduced after the presentation of the bill which I have just elaborated.
 
     The one concerning human rights safeguards is a very important one because if you understand the process of dealing with this extradition or surrender of fugitive offenders request from a requesting party, the first step requires the Chief Executive to trigger the process by giving a certificate. What we are now saying is that before the Chief Executive triggers that process, that is to accept the requesting party’s request to surrender the fugitive offender, we will require the requesting party to undertake to guarantee a long list of human rights protections, and these human rights protections resemble very closely the international standards and the guarantees under the ICCPR (International Covenant on Civil and Political Rights). This is a very practical package that has struck the necessary balance between the protection of human rights, the allaying of public anxieties and concerns, and also the objective which I need not repeat – it is a very important objective to deal with such offenders to avoid Hong Kong becoming a haven for fugitives and also to discharge our international obligation.

     You asked if any of these guarantees are not met, what would happen. First of all, I want to draw your attention to the letter from the Secretary for Security to the LegCo President. Apart from these human rights safeguards, there is an additional measure which elaborates that the final authority to surrender or not to surrender rests with the Chief Executive. In other words, when the court agrees to surrender, then the Chief Executive could still be the gatekeeper of deciding not to surrender a fugitive offender taking into account several factors – the changing circumstances, the humanitarian grounds and so on. That is the moment that the Chief Executive could still re-examine the whole case and the changing circumstances to decide. But the important thing is, if the court decides not to surrender, even the Chief Executive could not overrule the court. To say that because somebody wants this offender and I will surrender – that is not possible, because if that’s possible, that means that the Chief Executive is above the law or totally disregarding the law, and that is something no Chief Executive could do in a highly civilised, rule of law society like Hong Kong. Thank you very much.
 
(Please also refer to the Chinese portion of the transcript.)