Author Archives: hksar gov

     ​The Government today (August 18) exercised the power under the Prevention and Control of Disease (Compulsory Testing for Certain Persons) Regulation (Cap. 599J) to make a “restriction-testing declaration” (declaration) effective from 5pm, under which people (hereafter referred to as “persons subject to compulsory testing”) within the specified “restricted area” in Siu Sai Wan (i.e. Tower 3, Island Resort, Siu Sai Wan (only including the 6/F Podium and floors above), see Annex) are required to stay in their premises and undergo compulsory testing. Persons subject to compulsory testing are required to stay in their premises until all such persons identified in the “restricted area” have undergone testing and the test results are mostly ascertained. The Government aims at finishing this exercise at around noon tomorrow (August 19). The operation may be extended depending on test results.
 
     A Government spokesman said, “Under Cap. 599J, the Government can, according to the needs of infection control, make a ‘restriction-testing declaration’. Having reviewed a basket of factors, including the viral load in sewage, the information of relevant positive cases, and other circumstantial factors, and conducted a risk assessment, the Government decided to make a ‘restriction-testing declaration’ for the relevant area.”
 
     The Government will set up temporary specimen collection stations at the “restricted area” and request persons subject to compulsory testing to undergo testing before 10.30pm today. Arrangements will be made for persons subject to compulsory testing to undergo a nucleic acid test at specimen collection stations where dedicated staff will collect samples through combined nasal and throat swabs. Persons subject to compulsory testing must stay at their place of residence until all test results are ascertained to avoid cross-infection risk. The Government will make arrangement to facilitate specimen collection for people with impaired mobility. All persons in the “restricted area” who have tested positive in the past 14 days, including positive cases identified either by nucleic acid tests recorded by the Department of Health (DH) or by rapid antigen tests that have been self-declared to the DH, are not required to undergo testing in this compulsory testing exercise.
 
     The Government spokesman said, “We understand that this exercise will cause inconvenience to the public. The Government has made arrangements to carry out testing for all persons present in the ‘restricted area’ as soon as possible. The aim is to strive to complete testing of all identified persons subject to compulsory testing and confirm the results, and finish the exercise at around noon tomorrow. The Government will make a public announcement when the declaration expires officially. In the cases in which employees are unable to go to work because of the declaration, the Government hopes their employers can exercise discretion and not deduct the salaries or benefits of the employees.”
 
     If staying in the “restricted area” will cause unreasonable hardship to individuals who are not residents in the area when the declaration takes effect, government officers may exercise discretion and allow that person to leave the area after considering the individual circumstances. That person must have followed the instructions to undergo testing and leave his/her personal information for contact purposes.
 
     According to the compulsory testing notice to be issued today, any persons other than those specified above who had been present at the above building for more than two hours from August 12 to 18, 2022, even if they were not present in the “restricted area” at the time when the declaration took effect, must undergo compulsory testing on or before August 20, 2022. As a mutant strain is involved, for prudence’s sake, vaccinated persons and persons who have recently been tested are also required to undergo testing.
 
     The Labour and Welfare Bureau has set up two hotlines (Tel: 6796 5242 and 6798 9940) which started operation at 5pm today for residents restricted by the declaration to make enquiries and seek assistance. The Social Welfare Department will also provide assistance to the affected persons.
 
     The Government appeals to persons subject to compulsory testing for their full co-operation by registering and undergoing testing, and waiting for the results patiently at home. The Government will strictly follow up on whether the persons concerned have complied with the compulsory testing notices and “restriction-testing declaration”. Any person who fails to comply with the compulsory testing notices commits an offence and may be fined a fixed penalty of $10,000. The person would also be issued with a compulsory testing order requiring him or her to undergo testing within a specified time frame. Failure to comply with the compulsory testing order or the “restriction-testing declaration” is an offence and the offender would be liable to a fine at level 5 ($50,000) and imprisonment for six months. read more

     The Rating and Valuation Department will issue today (August 18) about 350,000 requisition forms asking payers of rates and/or Government rent to provide details of rents and other terms of tenancies for different categories of properties.

     A spokesman for the department said the rental information collected would be used to prepare a new round of general revaluation.

     “The general revaluation will better reflect prevailing market rents of properties. The new rateable values will take effect on April 1, 2023,” the spokesman said.

     Rates and/or Government rent payers should complete and return the forms within 21 days. They can also complete and return the forms by using the Electronic Submission of Forms service provided at the department’s website (www.rvd.gov.hk).

     Rates and/or Government rent payers are reminded to affix sufficient postage if they return the forms by post to ensure timely and successful postal delivery.

     Anyone having difficulty in completing and returning the forms within the specified period must apply in writing for an extension of time before the end of the stipulated period and should state their reasons.

     Anyone who knowingly makes a false statement or refuses to furnish any of the particulars specified in the form commits an offence and will be liable to a maximum fine of $25,000 or $10,000 respectively. They will also be fined an amount equivalent to three times the rates and/or Government rent undercharged.

     Enquiries on how to complete the form can be made by calling the number printed on the form, or visiting the department at 15/F, Cheung Sha Wan Government Offices, 303 Cheung Sha Wan Road, Kowloon.

     The department’s website also provides answers to commonly asked questions on completing the form. read more

     The Government announced today (August 18) that in order to fight the coronavirus epidemic, the Environmental Protection Department and the Drainage Services Department have been collecting sewage samples for virus testing in all di… read more

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) announced today (August 18) the composite interest rate at the end of July 2022 (Note 1).
      
     The composite interest rate, which is a measure of the average cost of funds of banks, increased by 11 basis points to 0.58 per cent at the end of July 2022, from 0.47 per cent at the end of June 2022 (see Chart 1 in the Annex). The increase in composite interest rate mainly reflected an increase in the weighted funding cost for deposits during the month (see Chart 2 in the Annex) (Note 2).
      
     The historical data of the composite interest rate from the end of the fourth quarter of 2003 to the end of July 2022 are available in the Monthly Statistical Bulletin on the HKMA website (www.hkma.gov.hk).

Note 1: The composite interest rate is a weighted average interest rate of all Hong Kong dollar interest-rate-sensitive liabilities, which include deposits from customers, amounts due to banks, negotiable certificates of deposit and other debt instruments, and all other liabilities that do not involve any formal payment of interest but the values of which are sensitive to interest rate movements (such as Hong Kong dollar non-interest bearing demand deposits) on the books of banks. Data from retail banks, which account for about 90 per cent 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.

Note 2: Since June 2019, the composite interest rate and weighted deposit rate have been calculated based on the new local “Interest rate risk in the banking book” (IRRBB) framework. As such, these figures are not strictly comparable with those of previous months. read more

     The effective exchange rate index for the Hong Kong dollar on Thursday, August 18, 2022 is 101.3 (up 0.3 against yesterday’s index). read more