Author Archives: hksar gov

     Police today (August 16) appealed to the public for information on a man who went missing in Sau Mau Ping.             Chung Chi-yuen, aged 57, went missing after he… read more

     The Financial Services and the Treasury Bureau (FSTB) initiated a closed-door meeting yesterday (August 15) to exchange viewpoints with industry leaders to foster a more vibrant development of the digital asset industry in Hong Kong. The Under Secretary for Financial Services and the Treasury, Mr Joseph Chan; the Director of Licensing and Head of Fintech unit of the Securities and Futures Commission (SFC), Ms Elizabeth Wong; and the Head of Fintech of Invest Hong Kong (InvestHK), Mr King Leung, co-hosted the meeting. Senior executives from over 10 digital assets firms, as well as leaders from the legal and academia sectors, participated in the meeting virtually and in person.
 
     During the meeting, the FSTB and the SFC updated the industry leaders on the key considerations behind the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022. Mr Chan said that the Bill was currently under the scrutiny of the Legislative Council. He said he hoped that the Bill would be passed soon, and that the amended ordinance could take effect next year. Based on industry feedback, industry leaders pointed out the advantages of better clarity and investors’ assets protection of Hong Kong’s proposed regulatory regime of virtual asset service providers (VASPs) over other jurisdictions. The SFC also explained the digital asset regulatory stance and direction. Some of the attending digital asset firms have expressed their interest in applying for licenses under the upcoming regime.
 
     Mr Chan said, “We believe that the establishment of a licensing regime for VASPs with appropriate supervision can help ensure a gradual and healthy development of the market and protect investor interests. It is important to put in place a comprehensive regulatory system to build up market confidence, and hence provide a pathway to the sustainable development of the virtual asset industry in Hong Kong.”
 
     The Hong Kong Special Administrative Government puts high emphasis on the development of the fintech industry and will continue to engage with the private sector stakeholders and listen to their suggestions. The FSTB and InvestHK will continue to host similar meetings for exchanging viewpoints with the industry.

About InvestHK

     InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment. It has set up a dedicated fintech team in Hong Kong to attract the world’s top innovative fintech enterprises, start-up entrepreneurs, investors, and other stakeholders to set up or scale their business via Hong Kong into Mainland China, Asia, and beyond. For more information, please visit www.hongkong-fintech.hk.
 

  

The following is issued on behalf of the Office of The Ombudsman:        The Office of The Ombudsman today (August 16) said that The Ombudsman, Ms Winnie Chiu, had interactions with a person who had tested preliminarily positive f… read more

     A Hong Kong resident charged with one count of conspiracy to defraud was convicted and sentenced to 18 months’ imprisonment at Sha Tin Magistrates’ Courts yesterday (August 15).
 
     During the investigation on a case of a suspected bogus marriage by the Special Investigation Section of the Immigration Department (ImmD), the 63-year-old defendant was suspected to have contracted a bogus marriage with a Mainland resident. The defendant under caution admitted that under the arrangement of a middleman, she was paid $50,000 as a monetary reward to contract a bogus marriage with the Mainland resident.
 
     “The ImmD will continue to spare no effort in combating bogus marriages and related fraud activities of non-local residents. For people who have obtained their residency in Hong Kong by fraudulent means, their residence status and Hong Kong identity card will be invalidated according to the laws of Hong Kong. They will also be subject to removal back to their place of origin. Persons should not defy the law by participating in activities related to bogus marriages anywhere,” the spokesman said.
 
     “Anyone who commits the offence of conspiracy to defraud is liable, upon conviction, to imprisonment for 14 years. According to section 42 of the Immigration Ordinance, any person who makes any statement or representation which he knows to be false or does not believe to be true to immigration officers commits an offence. Offenders are liable to prosecution, and upon conviction face a maximum fine of $150,000 and imprisonment for 14 years. Aiders and abettors are also liable to prosecution and the same penalties. Any person who for the purpose of procuring a marriage, or a certificate or license for marriage, knowingly and wilfully makes a false oath or makes or signs a false declaration is guilty of an offence and is liable, upon conviction, to imprisonment for seven years and to a fine,” the spokesman warned. read more

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The People’s Bank of China (PBOC) will issue Renminbi Bills through the Central Moneymarkets Unit of the Hong Kong Monetary Authority (HKMA). Please find attached the tender notice and the tender information memorandum of the Renminbi Bills to be issued by the PBOC. Please also find attached the tender-related information provided by the Issuing and Lodging Agent through the HKMA. read more