The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Bank of China (Hong Kong) Limited on fraudulent web… read more
Police are investigating a fatal traffic accident in Tin Sum today (June 14) in which an 86-year-old man died. At about 8.19am, a school bus driven by a 49-year-old man was travelling along… read more
Nine Hong Kong films, including two world premieres, one North American premiere, and three New York premieres, will be featured at the 2018 New York Asian Film Festival (NYAFF) in the Walter Reade Theatre of the Lincoln Centre for the Performing Arts from June 30 to July 12. The two world premieres are Sunny Chan’s directorial debut “Men on the Dragon” and Antony Chan’s comeback “House of the Rising Sons”.
The Director of the Hong Kong Economic and Trade Office in New York (HKETONY), Ms Joanne Chu, said yesterday (June 13, New York time) that the slate of movies, from new releases to action-packed thrillers, highlights the depth of film talent in the territory and underscores the Hong Kong Government’s efforts to nurture film talent and promote film development. For example, “Men on the Dragon”, a Film Development Fund project, has been selected by the festival to be the Centerpiece presentation. It is being presented a year after the NYAFF put a special focus on first-time directors from the territory. It has also been selected to compete in the festival’s relaunched Main Competition with six other films.
Sunny Chan, together with actress Jennifer Yu, will attend the premiere and a meet-the-audience session for the movie on July 12. Yu is one of 10 up-and-coming artistes featured in the Hong Kong Film New Action 2018 – Nova Power initiative.
Antony Chan is an original member and the drummer of the legendary teen-idol band the Wynners, formed in 1973, and he has returned to the director’s chair after 26 years to present a vibrant biopic. His previous directorial works included “A Fishy Story”, for which he was nominated for Best Director in the 1990 Hong Kong Film Awards. The director will attend the film screening on July 2 to talk about his music and filmmaking career.
Presented under the “Hong Kong Panorama” banner and with the support of HKETONY, Hong Kong films have been the backbone of the annual festival since 2009. Oxide Pang’s “The Big Call” will have its North American premiere on July 4. The three New York premieres are Jonathan Li’s debut “The Brink” (July 4), Wilson Yip’s “Paradox” (July 4) and Chapman To’s “The Empty Hands” (July 6). The star of “The Empty Hands”, Stephy Tang, who was nominated for Best Actress at the 2018 Hong Kong Film Awards, will attend the film screening and meet the New York audience for the first time
This year is also the time to celebrate the career of Dante Lam, whose first psycho-thriller “Beast Stalker” became an instant modern classic when it was released in 2008. Since then, Lam has been at the creative forefront of the action genre, and the festival will present him with the Daniel A Craft Award for Excellence in Action Cinema. There will be a special 10th anniversary screening of “Beast Stalker” on 35mm (July 1), as well as screenings of his mixed martial arts drama “Unbeatable” (July 1) and his latest film “Operation Red Sea” (June 30). Lam will attend the festival’s opening to discuss his films together with long-term producer Candy Leung.
The programme trailer of the “Hong Kong Panorama” can be found at www.facebook.com/hkmeetsamerica/videos/1105792796234459.
read more
Attention TV/radio announcers: Please broadcast the following as soon as possible: Here is an item of interest to swimmers. The Leisure and Cultural Services Department announced today (June 14) that the Environme… read more
Following is the speech by the Financial Secretary, Mr Paul Chan, at the 2018 Green and Social Bond Principles Annual General Meeting and Conference today (June 14):
Mr Scheck (Chief Executive of the International Capital Market Association, Mr Martin Scheck), Norman (Chief Executive of the Hong Kong Monetary Authority, Mr Norman Chan), distinguished speakers, ladies and gentlemen,
Good morning. It’s a great pleasure to join you today for the fourth Green and Social Bond Principles Conference. I’m pleased to note that the Conference is taking place in Asia – right here in Hong Kong – for the very first time.
I’d say that underlines the rising prominence of sustainable and green investment, as well as the tremendous power of Asia in propelling the global economy.
It speaks, too, of Hong Kong’s stature as one of the world’s leading financial centres.
The green bond market has come a long good way in just over a decade. It debuted only in 2007, with the issuance of a “climate awareness bond” by the European Investment Bank.
The 2015 Paris Agreement, adopted by 195 countries, has taken it to another level, lending it both heightened urgency and broad credibility across the full spectrum of governments, financial institutions and public and private entities.
In September 2016, green finance was for the first time included on the agenda of the G20 Summit held in Hangzhou, China. The importance of green finance was rightly recognised by the G20 leaders in the communique of the summit.
Last year, the global green bond issuance was around US$160 billion, 80 per cent more than the previous year. And China, the leading advocate of green finance at G20, issued more than US$23 billion worth of green bonds last year. Today, sovereign issuance accounts for about one-third of the total in both developed and emerging markets.
I am glad to report that Hong Kong will soon join the green wave, by issuing government green bonds with a borrowing ceiling of about US$13 billion.
We will, let me assure you, do so under the best market practices, and we will encourage others to arrange financing for their green projects through our premier capital platform.
The sheer scale of capital required to meet the global, low-carbon challenge demands an international alignment of interests, incentives as well as practices, and of course, public-private collaboration.
It helps, enormously, that the Green Bond Principles, with their focus on transparency, disclosure and reporting, are creating a level playing field for investors and issuers.
Building on this foundation, many national and regional authorities governing green bond issuance are developing practices that respond to their local circumstances.
That includes Hong Kong. We are tapping our local expertise to get a head start on green finance certification.
I must say I am encouraged by the favourable market response to our first local Green Finance Certification Scheme, which was launched in January this year.
The Scheme reflects a number of widely recognised international standards, including of course the Green Bond Principles, awarding pre-issuance and post-issuance stage certificates to green-debt instruments.
And we will set up a Green Bond Grant Scheme to subsidise the costs issuers incur in using our Green Finance Certification Scheme.
Another financial incentive, the Pilot Bond Grant Scheme, offers a grant equivalent to half the expenses incurred in each eligible bond issuance.
I’m sure you’ll hear more about this from the Hong Kong Monetary Authority today.
And let me add that the Asian Development Bank, the World Bank and the European Investment Bank, among other international organisations, have issued green bonds here in Hong Kong.
That gives us a bit of a head start. More importantly, our financial services sector has long earned the trust – and the capital – of the international institutions and major corporations.
We aim to build our reputation in the Guangdong-Hong Kong-Macao Bay Area, as well as the expanding economies under the Belt and Road Initiative.
I am confident that Hong Kong will, soon enough, be well known for green finance as we are now counted on for capital formation prowess, our offshore Renminbi products, and our many attractions as a global centre for IPOs (initial public offerings).
In short, ladies and gentlemen, we see green as the new gold not just for our economy but also for our community and our common future.
I wish you all a very fruitful conference today.
Thank you.
