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), announced today (November 8) that a tender of 2-year RMB Institutional Government Bonds (Bonds) under the Infrastructure Bond Programme will be held on November 14, 2024 (Thursday), for settlement on November 18, 2024 (Monday).
      
     A total of RMB1.0 billion 2-year RMB Bonds will be tendered. The Bonds will mature on November 18, 2026 and will carry interest at the rate of 2.04 per cent per annum payable semi-annually in arrear.
      
     Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of RMB50,000 or integral multiples thereof.
      
     Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK <GO>) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.
      
HKSAR Institutional Government Bonds tender information
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     Tender information of 2-year RMB HKSAR Institutional Government Bonds: 
 

Issue Number	:	02GB2611001
Stock Code	:	84585 (HKGB2.04 2611-R)
Tender Date and Time	:	Thursday, November 14, 2024 9.30am to 10.30am
Issue and Settlement Date	:	Monday, November 18, 2024
Amount on Offer	:	RMB1.0 billion
Maturity	:	2 years
Maturity Date	:	Wednesday, November 18, 2026
Interest Rate	:	2.04 per cent p.a. payable semi-annually in arrear
Interest Payment Dates	:	May 18 and November 18 in each year, commencing on the Issue Date up to and including the Maturity Date, subject to adjustment in accordance with the terms of the Institutional Issuances Information Memorandum of the Infrastructure Bond Programme and Government Sustainable Bond Programme (Information Memorandum) published on the Hong Kong Government Bonds website.
Method of Tender	:	Competitive tender
Tender Amount	:	Each competitive tender must be for an amount of RMB50,000 or integral multiples thereof. Any tender applications for the Bonds must be submitted through a Primary Dealer on the latest published list.
Other Details	:	Please see the Information Memorandum available on the Hong Kong Government Bonds website or approach Primary Dealers.
Expected commencement date of dealing on the Stock Exchange of Hong Kong Limited	:	Tuesday, November 19, 2024
Use of Proceeds	:	The Bonds will be issued under the institutional part of the Infrastructure Bond Programme. Proceeds will be invested in infrastructure projects in accordance with the Infrastructure Bond Framework published on the Hong Kong Government Bonds website.

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The following is issued on behalf of the Hong Kong Monetary Authority:      The Hong Kong Monetary Authority (HKMA) announced today (November 8) that it had completed an investigation and related disciplinary proceedings in … read more

     Hong Kong Customs yesterday (November 7) seized a total of about 10 kilograms of suspected cannabis buds, 2kg of gummy candies containing suspected tetrahydro-cannabinol (THC) and 539 vape sticks containing suspected THC, with a total estimated market value of about $2.5 million, in Yuen Long. One man suspected to be connected with the case was arrested.

     In the morning yesterday, Customs officers in Yuen Long intercepted a 35-year-old man and found a batch of suspected cannabis buds, gummy candies containing suspected THC and vapes containing suspected THC inside a recycle bag carried by him. The man was then arrested. 

     Customs officers later escorted the man to his rented residential flat in Yuen Long for a search and further seized a batch of suspected cannabis buds, gummy candies and vapes containing suspected THC and a batch of drug packaging paraphernalia.

     The arrested man, who claimed to be unemployed, has been charged with two counts of trafficking in a dangerous drug. The case will be brought up at the Fanling Magistrate’s Court tomorrow (November 9).

     Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

     Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

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     The Government announced today (November 8) that the Chief Executive (CE) has, pursuant to the Accounting and Financial Reporting Council Ordinance (Cap. 588), appointed Dr David Sun Tak-kei as the Chairman of the Accounting and Financial Reporting Council (AFRC) for a term of two years from January 1, 2025, to December 31, 2026.
 
     Dr Sun was the Director of Audit between 2012 and 2018, prior to which he was President of the Hong Kong Institute of Certified Public Accountants (HKICPA) and Chairman of an international audit firm.
 
     The Financial Secretary, Mr Paul Chan, said, “Dr Sun is an esteemed accounting veteran with abundant experience in, inter alia, public administration, the financial markets, and the audit profession. He is committed to public service and commands respect from the accounting sector. I look forward to the AFRC’s continued efforts under the leadership of Dr Sun in regulating local financial reporting and driving the development of accounting profession, thereby contributing to the further development of the financial markets and corporate governance in Hong Kong.”
 
     On the retirement of Dr Kelvin Wong Tin-yau as the Chairman of the AFRC by the end of the year, Mr Chan added, “During his tenure as the AFRC Chairman, Dr Wong has made remarkable contributions, including leading the AFRC in the smooth implementation of the accounting and audit regulatory reforms, bringing our regulatory regime in line with international developments in an orderly manner. I would like to thank Dr Wong for his endeavours and contributions over the years.”
 
     Upon the commencement of the new regulatory regime of the accounting profession on October 1, 2022, the AFRC has become a full-fledged regulatory and oversight body of the accounting profession with expanded statutory functions of, inter alia, registration, inspection, investigation and discipline. It is also responsible for promoting and supporting the development of the accounting profession, as well as overseeing the HKICPA’s performance of various statutory professional functions. read more

     The Environmental Protection Department (EPD) today (November 8) released the latest grading of water quality for 11 gazetted beaches that are open for swimming in November.
 
     Eleven beaches were rated as Good (Grade 1).
 
 
Grade 1 beaches are:

Big Wave Bay Beach	Middle Bay Beach
Casam Beach	Repulse Bay Beach
Clear Water Bay Second Beach	Silver Mine Bay Beach
Deep Water Bay Beach	Silverstrand Beach
Golden Beach	Stanley Main Beach
Lido Beach

 
     Compared with the grading released last week, Casam Beach, Clear Water Bay Second Beach and Silverstrand Beach have been upgraded from Grade 2 to Grade 1.
 
     Under the present grading system, beaches are classified into four grades, namely Good (Grade 1), Fair (Grade 2), Poor (Grade 3) and Very Poor (Grade 4), according to the level of E. coli in the water. Grades are calculated on the basis of the geometric mean of the E. coli counts on the five most recent sampling occasions.
 
     While the ratings represent the general water quality at the beaches, an EPD spokesman reminded members of the public that water quality could be temporarily affected during and after periods of heavy rain. Bathers should avoid swimming at beaches for up to three days after a tropical cyclone or heavy rainfall.
 
     A summary of beach grades is published weekly before the weekend. The latest beach grades based on the most current data may be obtained from the EPD’s website on Beach Water Quality (www.epd.gov.hk/epd/beach) or the beach hotline, 2511 6666. Members of the public can also obtain the latest daily water quality forecast information for all beaches that are open for swimming through the EPD’s dedicated webpage on the beach water quality forecast (www.epd.gov.hk/en/BWQForecast). read more