Author Archives: hksar gov

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

     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (September 4) that a tender of 15-year Government Bonds (Bonds) through the re-opening of existing 15-year Government Bond issue 15GB3203 under the Institutional Bond Issuance Programme will be held on September 12 (Wednesday), for settlement on September 13 (Thursday).
 
     An additional amount of HK$0.6 billion of the outstanding 15-year Bonds (issue no. 15GB3203) will be on offer. The Bonds will mature on March 2, 2032 and will carry interest at the rate of 1.89 per cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on September 4, 2018 is 94.46 with an annualised yield of 2.388 per cent.
 
     Under the Institutional Bond Issuance Programme, tender is open only to Recognized Dealers which are appointed as Primary Dealers. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the current published list, which can be obtained from the Government Bond Programme’s website at www.hkgb.gov.hk; Each tender must be for an amount of HK$50,000 or integral multiples thereof.
 
     Tender results will be published on the HKMA’s website, Government Bond Programme’s website, the Reuters screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3pm on the tender day.
 
 
HKSAR Government Institutional Bond Issuance Programme Tender Information
—————————————————————————————–

     Tender information of re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme:
 

Issue Number	:	15GB3203 (Re-open)
Stock code	:	4232 (HKGB 1.89 3203)
Tender Date and Time	:	Wednesday, September 12, 2018 9.30am to 10.30am
Issue and Settlement Date	:	Thursday, September 13, 2018
Amount on Offer	:	HK$0.6 billion
Maturity	:	Fifteen years
Remaining Maturity	:	Approximately 13.48 years
Maturity Date	:	March 2, 2032
Interest Rate	:	1.89% p.a., payable semi-annually in arrears
Interest Payment Dates	:	March 4, 2019 September 2, 2019 March 2, 2020 September 2, 2020 March 2, 2021 September 2, 2021 March 2, 2022 September 2, 2022 March 2, 2023 September 4, 2023 March 4, 2024 September 2, 2024 March 3, 2025 September 2, 2025 March 2, 2026 September 2, 2026 March 2, 2027 September 2, 2027 March 2, 2028 September 4, 2028 March 2, 2029 September 3, 2029 March 4, 2030 September 2, 2030 March 3, 2031 September 2, 2031 March 2, 2032
Method of Tender	:	Competitive tender
Tender Amount	:	Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof.  Any tender applications for the Bonds must be submitted through a Primary Dealer on the current published list.   The accrued interest to be paid by successful bidders on the issue date (September 13, 2018) for the tender amount is HK$25.89 per minimum denomination of HK$50,000.   (The accrued interest to be paid for tender amount exceeding HK$50,000 may not be exactly equal to the figures calculated from the accrued interest per minimum denomination of HK$50,000 due to rounding).
Other details	:	Please see Information Memorandum available on the Government Bond Programme’s website at www.hkgb.gov.hk or approach Primary Dealers.
Expected commencement date of dealing on the Stock Exchange of Hong Kong Limited	:	The tender amount is fully fungible with the existing 15GB3203 (Stock code: 4232) listed on the Stock Exchange of Hong Kong.

 
 
     Price/Yield Table of the new Government Bonds at tender for reference* only:
 

Yield-to-Maturity	Price	Yield-to-Maturity	Price
1.388	106.21	2.388	94.45
1.438	105.58	2.438	93.90
1.488	104.96	2.488	93.36
1.538	104.34	2.538	92.82
1.588	103.73	2.588	92.28
1.638	103.12	2.638	91.75
1.688	102.51	2.688	91.22
1.738	101.91	2.738	90.70
1.788	101.31	2.788	90.17
1.838	100.72	2.838	89.66
1.888	100.13	2.888	89.14
1.938	99.54	2.938	88.63
1.988	98.96	2.988	88.12
2.038	98.38	3.038	87.62
2.088	97.81	3.088	87.12
2.138	97.24	3.138	86.62
2.188	96.67	3.188	86.13
2.238	96.11	3.238	85.63
2.288	95.55	3.288	85.15
2.338	95.00	3.338	84.66
2.388	94.45	3.388	84.18

 
 
* Disclaimer
The information provided here is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of,the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it. The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here. read more

     The Chief Executive’s Council of Advisers on Innovation and Strategic Development held its third meeting today (September 4) to deliberate on the development of Hong Kong’s maritime and aviation services. Members were also briefed on Hong Kong International Airport (HKIA)’s recent initiatives.

     Members noted that HKIA is the world’s busiest airport for international air cargo, while Hong Kong port is one of the busiest container ports in the world. They reviewed the economic contribution and strengths of the maritime and aviation sectors in Hong Kong and deliberated on the challenges faced by the two sectors and how the maritime and port industry could stay competitive and move up the value chain. Members were also updated on the new initiatives to boost HKIA’s cargo handling capacities and the integrated retail, dining and entertainment development of SkyCity.

     Members opined that the opening of the Hong Kong-Zhuhai-Macao Bridge, the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development would bring vast opportunities for the two sectors, and suggested that the cities in the Bay Area should collaborate to create better synergies.

     The Chief Executive, Mrs Carrie Lam, said, “Hong Kong is the regional transport and logistics hub because of our strategic location on the East-West trade route and our role as the gateway to the Pearl River Delta. Our geographical advantage is further reinforced by our open and transparent regulatory regime, a simple tax system with a low tax rate, the rule of law and an independent judiciary. More importantly, we have the support of our country as indicated in the Dedicated Chapter on Hong Kong and Macao in the National 13th Five-year Plan to consolidate and enhance Hong Kong’s status as an international financial, transport and trade centre. It is high time we reviewed our strategy in further developing the maritime and aviation sectors to seize the opportunities available through proactive government policies, facilitating measures, timely investment and stepped-up promotions.”

     The Council is a high-level body responsible for advising the Chief Executive on Hong Kong’s future development and strategies for driving innovation. It gives advice on Hong Kong’s strategic positioning in the global and regional contexts and directions of economic development, with an aim of enhancing Hong Kong’s competitiveness and growth potential, providing guidance on evidence-based research and undertaking studies on related issues, with a view to enhancing policy formulation to meet changing development needs and advising on stakeholder engagement and public participation in the policy formulation and consensus building process. read more

     A man was fined $2,000 at the Eastern Magistrates’ Courts today (September 4) for contravening the Clubs (Safety of Premises) Ordinance.
      
     The courts heard that in February this year, officers from the Office of the Licensing Authority (OLA) of the Home Affairs Department conducted an inspection at a club on Shau Kei Wan Main Street East which had been operating with a certificate of compliance (CoC). The staff failed to show the registered drawings upon the OLA officers’ request. Condition 17 of the CoC was breached.
      
     The man, being the manager of the club, was charged with contravening section 21(1)(a) of the Ordinance.
      
     A spokesman for the department reminded all CoC holders to comply with the conditions as stipulated therein. Enforcement action will continue to be taken against illegal club operations. read more

     Affected by the outer rainbands of tropical cyclone Bebinca in mid-August and the heavy showers associated with an active trough of low pressure towards the end of the month, the weather in Hong Kong was gloomier and wetter tha… read more

     Special traffic arrangements will be implemented in Happy Valley tomorrow (September 5). The arrangements will come into effect one and a half hours before the start of the first race and will last until the crowds have dispersed after the race meeting.

A. Traffic arrangements before the commencement of the first race

1. Road closure

     Southbound Wong Nai Chung Road between Queen’s Road East and the up-ramp outside Hong Kong Jockey Club (HKJC) will be closed except for vehicles heading for Aberdeen Tunnel.

2. Traffic diversions

– Southbound Wong Nai Chung Road between Village Road and the up-ramp outside HKJC will be re-routed one way northbound;
– Vehicles from eastbound Queen’s Road East heading for Wan Chai and Happy Valley will be diverted to turn left to Morrison Hill Road;
– Traffic along southbound Morrison Hill Road heading for Happy Valley will be diverted via Sports Road and Wong Nai Chung Road;
– Traffic along Queen’s Road East cannot turn right to Wong Nai Chung Road except for vehicles heading to Aberdeen Tunnel;
– Traffic from Cross Harbour Tunnel heading for Queen’s Road East will be diverted via the down-ramp leading from southbound Canal Road flyover to Morrison Hill Road to turn right at the junction of Wong Nai Chung Road and Queen’s Road East; and
– Traffic from Cross Harbour Tunnel heading for Happy Valley or Racecourse will be diverted via the down-ramp leading from southbound Canal Road flyover to Canal Road East, southbound Morrison Hill Road, Sports Road and Wong Nai Chung Road.

B. Traffic arrangements before the conclusion of race meeting

1. Road closure

     The following roads will be closed from 35 minutes before the start of the last race:

– The up-ramp on Wong Nai Chung Road outside HKJC leading to Aberdeen Tunnel;
– Southbound Wong Nai Chung Road between Queen’s Road East and the up-ramp leading to Aberdeen Tunnel;
– Southbound Wong Nai Chung Road between Village Road and the Public Stands of HKJC;
– Westbound Leighton Road between Wong Nai Chung Road and Canal Road East; and
– Southbound Morrison Hill Road between Leighton Road and Queen’s Road East.

     In addition, southbound Wong Nai Chung Road between the up-ramp leading to Aberdeen Tunnel and the Public Stands of HKJC will be closed from about 10 minutes before the start of the last race.

2. Traffic diversions

     The following traffic arrangements will be implemented from 35 minutes before the start of the last race:

– Eastbound Queen’s Road East at its junction with Morrison Hill Road will be reduced to one-lane traffic heading for northbound Canal Road flyover;
– Vehicles from Cross Harbour Tunnel heading for Wan Chai will be diverted via the down-ramp leading from Canal Road East, U-turn slip road beneath Canal Road flyover, Canal Road West and Hennessy Road;
– Vehicles from Cross Harbour Tunnel heading for Happy Valley will be diverted via the down-ramp leading from Canal Road East, eastbound Leighton Road and Wong Nai Chung Road;
– Traffic on southbound Morrison Hill Road will be diverted to turn left to eastbound Leighton Road;
– Traffic along southbound Morrison Hill Road heading for Happy Valley will be diverted via eastbound Leighton Road and Wong Nai Chung Road; and
– Traffic along westbound Leighton Road will be diverted to Wong Nai Chung Road.

C. Learner drivers prohibition
     
     Learner drivers will be prohibited to turn left from Caroline Hill Road to Leighton Road between one and a half hours before the start of the first race and one hour after the last race. In addition, learner drivers will be prohibited from accessing the following roads within the above period of time:

– Shan Kwong Road between Yik Yam Street and Wong Nai Chung Road;
– Village Road between its upper and lower junctions with Shan Kwong Road;
– Percival Street between Hennessy Road and Leighton Road;
– Canal Road East; and
– The service road leading from Gloucester Road to Canal Road flyover.

D. Suspension of parking spaces

     Parking spaces on southbound Wong Nai Chung Road between Sports Road and Blue Pool Road will be suspended from 11am to 7pm during day racing, from 4.30pm to 11.59pm during evening racing, and from 5pm to 11.59pm during night racing.

     Any vehicles found illegally parked within the precincts of the above affected areas will be towed away without prior notice.

     Actual implementation of road closure and traffic diversion will be made by the Police at the time depending on traffic conditions in the areas. Motorists should exercise tolerance and patience, and follow the instructions of Police on site. read more