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Author Archives: hksar gov

Auctions of traditional vehicle registration marks to be held on December 1 and 2

     The Transport Department today (November 15) announced that two auctions of traditional vehicle registration marks will be held on December 1 (Saturday) and 2 (Sunday), in Meeting Room S421, L4, Hong Kong Convention and Exhibition Centre, Wan Chai.
 
     “A total of 300 vehicle registration marks will be put up for public sale at each auction. The lists of marks have been posted at the department’s website, www.td.gov.hk,” a department spokesman said.
 
     Applicants who have paid a deposit of $1,000 to reserve a mark for auction should also participate in the bidding (including the first bid at the reserve price of $1,000). Otherwise, the mark may be sold to another bidder at the reserve price.
 
     People who wish to participate in the bidding at the auction should take note of the following important points:
 
(a) Successful bidders are required to produce the following documents for completion of registration and payment procedures immediately after the successful bidding:
 
(i) the identity document of the successful bidder;
(ii) the identity document of the purchaser if it is different from the successful bidder;
(iii) a copy of the Certificate of Incorporation if the purchaser is a body corporate; and
(iv) a crossed cheque made payable to “The Government of the Hong Kong Special Administrative Region” or “The Government of the HKSAR”. (For an auctioned mark paid for by cheque, the first three working days after the date of auction will be required for cheque clearance confirmation before processing of the application for mark assignment can be completed.) Successful bidders can also pay through the Easy Pay System (EPS). Payment by post-dated cheques, cash or other methods will not be accepted.
 
(b) Purchasers must make payment of the purchase price through EPS or by crossed cheque and complete the Memorandum of Sale of Registration Mark immediately after the bidding. Subsequent alteration of the particulars in the memorandum will not be permitted.
 
(c) A vehicle registration mark can only be assigned to a motor vehicle which is registered in the name of the purchaser. The Certificate of Incorporation must be produced immediately by the purchaser if a vehicle registration mark purchased is to be registered under the name of a body corporate.
 
(d) Special registration marks are non-transferable. Where the ownership of a motor vehicle with a special registration mark is transferred, the allocation of the special registration mark shall be cancelled.
 
(e) The purchaser shall, within 12 months after the date of auction, apply to the Commissioner for Transport for the registration mark to be assigned to a motor vehicle registered in the name of the purchaser. If the purchaser fails to assign the registration mark within 12 months, allocation of the mark will be cancelled and arranged for re-allocation in accordance with the statutory provision without prior notice to the purchaser.
 
     For other auction details, please refer to the Guidance Notes – Auction of Vehicle Registration Marks, which can be downloaded from the department’s website, www.td.gov.hk. read more

East Asia

Pacific Economic Cooperation Council publishes State of the Region Report 2018-2019

The following is issued on behalf of the Hong Kong Committee for Pacific Economic Cooperation:
 
     The Pacific Economic Cooperation Council (PECC) published its State of the Region (SOTR) Report 2018-2019 on November 14.
 
     The SOTR Report is an annual statement of the PECC’s views on the major developments affecting Asia-Pacific regional co-operation. The Report contains a macroeconomic overview of the current state of the region and related issues. It also includes views from opinion leaders from government, business and academic sectors on key developments in the region and priorities for Asia-Pacific Economic Cooperation (APEC).
 
     The Report stated that the Asia-Pacific economy is expected to grow by 3.9 per cent in 2018 and 3.7 per cent in 2019. The PECC’s index of economic integration in the region showed a rebound after two consecutive years of falling. The Report identified the top five policy priorities for the region, namely rising trade tensions and the future of the World Trade Organization and the multilateral trading system; the emergence of anti-globalisation and anti-trade sentiments; progress on the APEC growth strategy to promote balanced, inclusive, sustainable, innovative and secure growth; progress towards the Bogor Goals and the Free Trade Area of the Asia-Pacific; and investing in human capital development in the digital age.
 
     The Report also examined the future of work in the Asia-Pacific region. There is expectation that the sizes of workforces will decline due to the introduction of new technologies, that the levels of skills required will rise and that the occupational and skill structures of the workforces will change. The impact of technological change is likely to be at the forefront of concerns over the coming years.
 
     The SOTR Report 2018-2019 is now available for download at the link below:
www.pecc.org/research/state-of-the-region.
 
     The Hong Kong Committee for Pacific Economic Cooperation (HKCPEC) was established in March 1990 to co-ordinate Hong Kong’s participation in the PECC. In line with the nature of the PECC, the composition of the HKCPEC is tripartite, comprising members from the Government, the business sector and academia.
 
     The PECC is a non-governmental organisation set up in 1980 to develop closer co-operation in trade and economic issues among economies in the region. For more information, please visit www.pecc.org. read more

East Asia