Police advise motorists that special traffic arrangements will be implemented in Sha Tin to facilitate the race meeting today (October 31).

     The arrangements will come into effect two hours before the start of the first race and will last until the crowds have dispersed after the race meeting.

     Appropriate traffic signs will be put up and police will be on hand to guide motorists.

     The Police also appeal to people going to Sha Tin Racecourse for the race meeting and to Happy Valley Racecourse for cross betting to make maximum use of public transport.

     Parking spaces at the two racecourses are available only to holders of appropriate permits issued by Hong Kong Jockey Club and any vehicles illegally parked will be towed away.

     Following is a question by the Hon Abraham Shek and a written reply by the Secretary for Transport and Housing, Mr Frank Chan Fan, in the Legislative Council today (October 31):

Question:

     Will the Government inform this Council, in tabulated form, of the respective numbers of residential units produced from projects undertaken by the private sector in each of the years from 2015 to 2018 on sites involving applications for (i) lease modification, (ii) land exchange and (iii) private treaty grant?

Reply:

President,

     According to the statistics of Rating and Valuation Department (Note 1), the actual or forecast number of private residential units completed from 2015 to 2018 are set out below:

     The Government does not have statistical information on completed private residential units by category of land, such as lease modification, land exchange, private treaty grant, etc.
 
Note 1: The statistics are from the "Hong Kong Property Review 2018" published by the Rating and Valuation Department (www.rvd.gov.hk/doc/en/hkpr18/03A-1.pdf).

Note 2: This is the forecast completion figure for 2018.

     Following is the speech by the Financial Secretary, Mr Paul Chan, at the opening of Hong Kong FinTech Week 2018 this morning (October 31):
 
Norman (Chief Executive of the Hong Kong Monetary Authority, Mr Norman Chan), distinguished speakers and guests, ladies and gentlemen,
 
     Good morning.
 
     I am delighted to be here today, to have this welcome opportunity to speak to you all here for Hong Kong FinTech Week, an event gathering more than 8 000 business leaders, start-up innovators, regulators, investors and more from over 50 countries and regions. Most of you, I'm sure, are flag-waving fintech fans, passionate believers in the future of financial technology. Some might be holding a wait-and-see attitude, waiting to be convinced and converted.
 
     No matter which group you belong to, I'd say you've come to the right place. Over the next four days, this third edition and the biggest ever Hong Kong FinTech Week is going to present more than 200 speakers tackling themes critical to the future of fintech.
 
     On the fifth day of FinTech Week, together we will head for Shenzhen, making this the world's first ever cross-border fintech event.
 
     No less important, the day in Shenzhen will give you the chance to see for yourself how Hong Kong can serve as your fintech base, while tapping into the vast opportunities of the Guangdong-Hong Kong-Macao Greater Bay Area, a big part of the world's largest fintech market.
 
     Some are already calling Shenzhen the Silicon Valley of China. Imagine placing Silicon Valley next door to New York City. I'm sure and confident that's pretty much what Hong Kong and Shenzhen will, soon enough, offer the world. Let me share with you a few thoughts on this.
 
     It starts, of course, with our financial sector. Hong Kong is consistently rated among the world's top three international financial centres and first in Asia. Our information and communications technology (ICT) infrastructure is equally world-class. Hong Kong's financial regulatory framework enables innovation, while protecting users and the industry in general. And our talent pool is multilingual and multitalented as I'm sure you'll discover in the course of this FinTech Week.
 
     More importantly, Hong Kong welcomes you with an inclusive spirit of entrepreneurship, and with the assurance of a level playing field for all.
 
     You may be well aware that Hong Kong is the freest economy in the world. Our government concentrates on promoting and facilitating, so that you can focus yourself on innovating and business building.
 
     Earlier this year, I dedicated HK$500 million to develop the financial services industry, and fintech is definitely on the agenda.
 
     I also allocated nearly HK$200 million to Cyberport as part of our determined effort to support fintech start-ups. The Government's HK$2 billion Innovation and Technology Venture Fund and Cyberport's Macro Fund also help finance new fintech projects.
 
     Private funding from angel investors, venture capitalists and private equity funds is also rife. Indeed, investment in Hong Kong-based fintech companies exceeded US$500 million in 2017 – more than doubling the amount in 2016.
 
     Hong Kong is undoubtedly an ideal launch pad for those seeking a future in fintech. There are well over 300 fintech start-ups at Cyberport and Hong Kong Science Park and over 150 other fintech companies are flourishing in the private co-working spaces dotted all over Hong Kong. 
 
     Our Fast Track Programme is here, right outside this hall, to support you to join the league. Specialists from InvestHK, as well as our financial regulators and fintech partners, are there to assist you, to help you launch your fintech future here in Hong Kong.
 
     What Hong Kong can offer is smartly summed up by the tagline of our new Hong Kong fintech logo, "Launch, Leap and Lead".
 
     I've touched on Hong Kong's resources for launching your fintech company or start-up. We'll help you make that leap as our city as a whole excitedly rolls into the era of fintech. Just last month, the Hong Kong Monetary Authority launched the Faster Payment System. 
 
     That means instant fund transfer round the clock in both Hong Kong dollars and Renminbi not only between banks, but also between e-wallets.
 
     A common QR code for retail payment has also been established, allowing Hong Kong merchants to accept payment from multiple channels, including e-wallets and individual banking apps.
 
     By the end of this year, the first batch of virtual bank licenses will be given to those virtual banks to open their portals. An Open API framework is also on the way. It will allow fintech companies to collaborate with banks in providing innovative offerings.
 
     As for leading, that means, among other things, expanding our markets. We're certainly working on that. Those of you who make the trip to Shenzhen this Friday will get a first-hand appreciation for that and for the possibilities, the promise, of the Greater Bay Area and Hong Kong's role, very unique role, in this national development strategy.
 
     The Greater Bay Area links nine prosperous cities in southern China together with Hong Kong and Macao. Together, they count some 70 million ready consumers of financial services, and of course fintech.
 
     My sincere thanks to my colleagues in InvestHK and all the other organisers and supporters for putting together this year's Hong Kong FinTech Week. I'm sure it will be a resounding success.
 
     I wish you all a rewarding week, and the best of fintech business in the coming year.
 
     Thank you.

      

     Two illegal workers comprising a Pakistani and an Indian were jailed by Shatin Magistrates' Courts yesterday (October 30).

     Immigration Department (ImmD) investigators received a referral from the Hong Kong Police Force to further investigate an illegal employment case in April. Enforcement officers arrested a male Pakistani worker, aged 43, who was conveying goods in a car park in Kwai Chung. Upon identity checking, he produced for inspection a recognisance form issued by the ImmD, which prohibits him from taking employment. Further investigation revealed that he was a non-refoulement claimant. An employer suspected of employing the illegal worker was also arrested and the investigation is ongoing.

     In addition, during a joint operation conducted by the ImmD and the Hong Kong Police Force codenamed "Powerplayer" on June 27, enforcement officers raided a restaurant in Tsim Sha Tsui. One male Indian illegal worker, aged 25, was arrested. When intercepted, he was working as a kitchen worker. Upon identity checking, he produced for inspection a recognisance form issued by the ImmD, which prohibits him from taking employment. Further investigation revealed that he was a non-refoulement claimant. An employer suspected of employing the illegal worker was also arrested and investigation is ongoing.

     The two illegal workers were charged at Shatin Magistrates' Courts yesterday with taking employment after landing in Hong Kong unlawfully and remaining in Hong Kong without the authority of the Director of Immigration or while being a person in respect of whom a removal order or deportation order was in force. After trial, they were sentenced to 16 months and 26 days' and 22 months and two weeks' imprisonment respectively.

     The ImmD spokesman warned that, as stipulated in section 38AA of the Immigration Ordinance, illegal immigrants or people who are the subject of a removal order or a deportation order are prohibited from taking any employment, whether paid or unpaid, or establishing or joining in any business. Offenders are liable upon conviction to a maximum fine of $50,000 and up to three years' imprisonment. The Court of Appeal has issued a guideline ruling that a sentence of 15 months' imprisonment should be applied in such cases.

     The spokesman reiterated that it is a serious offence to employ people who are not lawfully employable. The maximum penalty is imprisonment for three years and a fine of $350,000. The High Court has laid down sentencing guidelines that the employer of an illegal worker should be given an immediate custodial sentence. According to the court sentencing, employers must take all practicable steps to determine whether a person is lawfully employable prior to employment. Apart from inspecting a prospective employee's identity card, the employer has the explicit duty to make enquiries regarding the person and ensure that the answers would not cast any reasonable doubt concerning the lawful employability of the person. The court will not accept failure to do so as a defence in proceedings. It is also an offence if an employer fails to inspect the job seeker's valid travel document if the job seeker does not have a Hong Kong permanent identity card. The maximum penalty for failing to inspect such a document is imprisonment for one year and a fine of $150,000.
 
     Under the existing mechanism, the ImmD will, as a standard procedure, conduct initial screening on vulnerable persons, including illegal workers, illegal immigrants, sex workers and foreign domestic helpers, who are arrested during any operation, with a view to ascertaining whether they are trafficking in persons (TIP) victims. When any TIP indicator is revealed in the initial screening, the officers will conduct a full debriefing and identification by using a standardised checklist to ascertain the presence of TIP elements, such as threat and coercion in the recruitment phase and the nature of exploitation. Identified TIP victims will be provided with various forms of support and assistance, including urgent interference, medical services, counselling, shelter, temporary accommodation and other supporting services. The ImmD calls on TIP victims to report crimes to the relevant departments.

     Following is a question by the Hon Chan Chi-chuen and a written reply by the Secretary for Security, Mr John Lee, in the Legislative Council today (October 31):

Question:

     It has been reported that a Mainland company is suspected of pirating a foreign company's software in developing its software and it made exaggerated statements in promoting the software. The person-in-charge of that company was granted approval in 2012 for coming to Hong Kong for settlement under the Quality Migrant Admission Scheme (the Scheme). Besides, the media have uncovered a number of exaggerated and misrepresented statements in the curriculum vitae of that person uploaded onto the company's website. Quite a number of members of the public doubt whether the Immigration Department (ImmD) stringently scrutinised the information submitted by the applicants when it processed applications under the Scheme in the past. In this connection, will the Government inform this Council:

(1) whether ImmD contacted the relevant organisations or institutions in the past five years for the purpose of verifying the information submitted by the applicants under the Scheme; if so, of the number of applications refused by ImmD in each of the past five years on the grounds that the applicants had submitted false or misrepresented information;

(2) whether ImmD will conduct sampling reviews on the authenticity of the information submitted, by persons who have been granted approval for coming to Hong Kong for settlement, in their applications under the Scheme; if so, of the details; if not, the reasons for that; and

(3) whether, under the existing mechanism, ImmD may revoke the resident status of those persons found to have poor conduct or bad reputation after they have been granted approval for coming to Hong Kong for settlement under the Scheme, so as to ensure that Hong Kong's reputation will not be tarnished; if not, of the reasons for that?

Reply:

President,

     The reply to Hon Chan's question is as follows:

     The Immigration Department (ImmD) has always assessed applications for visas or entry permits for employment according to the laws and established policies. In processing each application, ImmD will examine whether the applicant meets the specific eligibility criteria under the relevant admission scheme or arrangement and normal immigration requirements, and will take into account the individual circumstances of each application, so as to ensure that only applicants who are in compliance with immigration policies will be admitted into Hong Kong.

     The Quality Migrant Admission Scheme (QMAS) aims to attract highly skilled or talented persons to settle in Hong Kong, which is a quota-based admission scheme.  During each selection exercise, applicants who satisfy both the prerequisites and the passing mark (under the General Point Test) or the one point-scoring factor (under the Achievement-based Points Test) will be assessed further by the Advisory Committee on Admission of Quality Migrants and Professionals (the Advisory Committee). The Advisory Committee considers the socio-economic needs of Hong Kong, the sectoral mix of candidates and other relevant factors, and recommends to ImmD how best to allocate available quota in each selection exercise.
 
(1) and (2) In processing each application, ImmD has adopted stringent standard in verifying qualification proof submitted by applicants. ImmD requires QMAS applicants to submit relevant proof of educational qualifications, working experience and professional qualifications, etc. to establish his/her meeting of the prerequisites and eligibility for relevant scores under the respective point-scoring factors. For proof of academic qualifications, ImmD will request the applicants to apply to relevant authorised institutions (such as respective education department or authorities, the Hong Kong Council for Accreditation of Academic and Vocational Qualifications, or the relevant educational institutions) for verification of his/ her academic qualifications, and send the verification results to ImmD directly for examination. As for the documentary proof of other professional qualifications, ImmD may request the applicants to submit the documentary proof of professional qualifications validated by relevant notaries public, so as to determine the authenticity of the documents. Applicants who are allotted a quota in the selection exercise are required to present originals of all documents submitted during the application (including supporting documents to demonstrate relevant work experience) to ImmD for verification. In addition, if ImmD receives any report on furnishing false information or making false representation, ImmD will conduct detailed investigation into the doubtful cases.

     Regarding the QMAS application, from 2014 to September 2018, ImmD has investigated 12 QMAS applications suspected to have furnished false information or made false representation. Among these 12 doubtful cases, all applications were either withdrawn by the applicants or not processed further due to insufficient information. Nine cases are still under criminal investigation.

(3) It is an offence for any persons to furnish false information or make false representation to ImmD in their applications for visas or entry permits. Apart from rejecting such applications, ImmD will also initiate criminal investigations into the cases concerned. Upon conviction, offenders are liable to a maximum fine of $150,000 and imprisonment for 14 years. In addition, it is also an offence to make, possess or use false instruments. Upon conviction, offenders are liable to a maximum penalty of 14 years' imprisonment. Should any person be found to have obtained his visa or entry permit to Hong Kong by illegal means, the visa or entry permit so obtained will become null and void according to the law, and the person concerned will be subject to removal back to his place of origin. Even if the person has ordinarily resided in Hong Kong for a continuous period of seven years or more and obtained the right of abode in Hong Kong, his right of abode in Hong Kong will be declared invalid according to the law, and he will be subject to removal back to his place of origin.