Author Archives: hksar gov

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

     The Hong Kong Monetary Authority (HKMA) announced today (July 19) the composite interest rate at the end of June 2018.*
      
     The composite interest rate, which is a measure of the average cost of funds of banks, increased by 16 basis points to 0.62% at the end of June 2018, from 0.46% at the end of May 2018 (see Chart 1 in the Annex). The rise in composite interest rate reflected increases in the weighted funding costs for both deposits and interbank funds, partly as a result of initial public offering straddling the month end (see Chart 2 in the Annex).
      
     The historical data of the composite interest rate from the end of the fourth quarter of 2003 to the end of June 2018 are available in the Monthly Statistical Bulletin on the HKMA website (www.hkma.gov.hk). The next data release is scheduled for August 17, 2018 and will provide the composite interest rate at the end of July 2018.
 
* The composite interest rate is a weighted average interest rate of all Hong Kong dollar interest bearing liabilities, which include deposits from customers, amounts due to banks, negotiable certificates of deposit and other debt instruments, and Hong Kong dollar non-interest bearing demand deposits on the books of banks. Data from retail banks, which account for about 90% of the total customers’ deposits in the banking sector, are used in the calculation. It should be noted that the composite interest rate represents only average interest expenses. There are various other costs involved in the making of a loan, such as operating costs (e.g. staff and rental expenses), credit cost and hedging cost, which are not covered by the composite interest rate. read more

     The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (July 19) that a sample of dry noodles with chicken in chili sauce was found to contain a pathogen, Salmonella. The CFS is follow… read more

     The Secretary for Labour and Welfare (SLW), Dr Law Chi-kwong, visited front-line offices of the Labour Department (LD) and the Social Welfare Department (SWD) in North Point Government Offices this morning (July 19) to learn more about their operations and services.

     He first went to the LD’s North Point Job Centre and was briefed on its employment and recruitment services for job seekers and employers respectively, including job registration, employment advisory services, district-based job fairs and various job search facilities. He tried out the Job Easy touch-screen Vacancy Searching Terminal to see how it assists job seekers to look for vacancies and apply to employers directly.

     Over 121 000 private sector vacancies were received by the LD in June. The LD offers a wide range of employment and recruitment services to job seekers and employers through a total of 13 job centres and three industry-based recruitment centres across the territory. To address the difficulties that may be encountered by job seekers with special needs during job search or employment, employment briefings are organised at job centres to help them better understand the latest situation of the employment market and improve job search skills.

     Dr Law also visited the SWD’s Causeway Bay Social Security Field Unit (SSFU) to get an update on its caseload and workflow of the handling of applications for Comprehensive Social Security Assistance (CSSA) and Social Security Allowance (SSA). He noted that the 41 SSFUs across the territory now handle over 1.14 million cases per month. He said he was glad to note that, along with the overall local unemployment rate staying low, the number of unemployed CSSA recipients and low-earnings cases in June had decreased by 8.4 per cent and 17.1 per cent respectively year-on-year.

     As of the end of June, some 900 000 of 1.2 million elderly persons aged 65 or above in Hong Kong were receiving CSSA or SSA. Among them, about 120 000 were receiving Old Age Living Allowance (OALA) while some 373 000 were receiving Higher OALA. The Government has launched a series of measures to strengthen retirement protection and the Higher OALA can further support elderly persons with more financial needs, he said.

     Dr Law then proceeded to the SWD’s Adoption Unit to understand its efforts in finding permanent and stable homes for children whose parents are unable or unwilling to take care of them. The unit provides counselling for parents in need and assists them to complete the relinquishment procedure for arranging their children for adoption, and arranges local, overseas or privately arranged adoption as appropriate.

     Two secondary school students enrolled under the “Be a Government Official for a Day” programme to shadow the SLW also joined the front-line visits to gain experience of the SLW’s work and understand more about welfare initiatives and public services closely related to people’s livelihood.

      

     The Environmental Protection Department (EPD) will hold the “Plastic Free Beach, Tableware First” campaign at all public beaches this summer with the aim of achieving a plastic-free ocean. The campaign seeks to encourage members of the public to go plastic-free on beaches and reduce the use of disposable plastic utensils. It also aims to mobilise support from eateries on beaches or in the vicinity to avoid using or handing out disposable plastic tableware as far as possible. Witnessed by various supporting organisations, a ceremony was held today (July 19) at Repulse Bay Beach to launch the campaign.

     Speaking at the launch ceremony, the Secretary for the Environment, Mr Wong Kam-sing, said that the problem of excessive plastic waste is immediate and worldwide, and it is currently a global challenge to prevent plastic waste from entering the marine environment. Through the “Plastic Free Beach, Tableware First” campaign, the Government seeks to raise public awareness on the impact of plastics to the marine environment and the importance of going plastic-free. He said he was delighted to learn that quite a number of food premises, ranging from kiosks selling fish balls and siu mai to high-end restaurants in shopping arcades, have already pledged their support to the campaign to help protect the ocean.

     Mr Wong stressed that the campaign is only a starting point and that green promotion efforts to encourage members of the public to reduce the use of disposable plastic tableware will go beyond beaches. He said he hopes that the campaign will serve as a positive example and a promotion drive to encourage all sectors of the community to go plastic-free and minimise the use of disposable plastic tableware. The Government will organise a wide range of public education and publicity campaigns to foster a plastic-free culture for all.

     In addition to public education and publicity campaigns, Mr Wong said that the Government is considering a series of new measures to reduce disposable plastic tableware usage, including to explore means to require the operators of all canteens and refreshment kiosks in government properties and venues to avoid distributing disposable tableware, and to prepare the launch of voluntary schemes on using less plastic and disposable tableware in the food and beverage sector. The EPD will also commence a consultancy study in 2018-19 to obtain in-depth knowledge about worldwide proposals on the future control of disposable plastic tableware, and consider whether it is suitable to implement such control in future having regard to the local situation.

     The “Plastic Free Beach, Tableware First” campaign covers all fast food kiosks and restaurants at public beaches and in their vicinity and has been joined by 47 of them so far. During the campaign, the participating food premises will try to avoid using or distributing plastic straws and disposable plastic tableware as far as possible to eliminate plastic waste on beaches. In addition, they will try using more environmentally friendly tableware (such as paper straws, bamboo sticks, paper bags or reusable utensils) to replace items made of disposable plastics. Posters will also be put up on-site to support marine protection.

     Today’s launch ceremony was also joined by the Deputy Director of Leisure and Cultural Services (Leisure Services), Ms Ida Lee, and representatives from green groups and participating organisations. After the launch ceremony, volunteer ambassadors promoted the message of plastic-free beaches to swimmers at Repulse Bay Beach.

     For more details on the “Plastic Free Beach, Tableware First” campaign, please visit the event information on the Big Waster Facebook page: www.facebook.com/events/251123192141266/. read more

     The Government announced today (July 19) that the Chief Executive has re-appointed Dr Wilfred Wong Ying-wai as Chairman of the Standing Commission on Civil Service Salaries and Conditions of Service (SCCS). The Chief Executive … read more