Author Archives: hksar gov

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) announces that a tender of 2-year Exchange Fund Notes will be held on August 19 (Friday) for settlement on August 22 (Monday), as set out in the published tentative issuance schedule. This is to roll over an issue of 2-year Exchange Fund Notes maturing on the same day. 
      
     A total of HK$1,200 million 2-year Notes will be on offer, of which HK$5 million will be made available for offer to members of the public who wish to submit non-competitive tender bids through Hong Kong Securities Clearing Company Limited (HKSCC). If the Notes reserved for non-competitive tender are under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$1,195 million). The Notes will mature on August 22, 2024 and will carry interest at the rate of 2.84 per cent per annum payable semi-annually in arrears.
      
     Members of the public who wish to submit non-competitive tender applications for Notes that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold Investor Accounts of the Central Clearing and Settlement System (CCASS) at the HKSCC, directly through HKSCC, for submission to the HKMA for processing. Competitive tender applications for the Notes must be submitted through any of the Eligible Market Makers appointed by the HKMA, with the current published list available on the HKMA’s website at www.hkma.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.
      
     The tender results will be published on the HKMA’s website, the Refinitiv screen (HKMAOOE), and Bloomberg. Applicants who submitted non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants who hold Investor Accounts at HKSCC’s CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.
 
HKMA Exchange Fund Note Programme Tender Information
______________________________________________________
     Tender information of 2-Year Exchange Fund Notes:
 

Issue Number	:	02Y2408
Stock code	:	4091 (EFN 2.84 2408)
Tender date and time	:	August 19, 2022 (Friday) 9.30am to 10.30am
Issue and Settlement Date	:	August 22, 2022 (Monday)
Amount on offer	:	HK$1,200 million (up to HK$5 million for non-competitive tender)
Commencement of/ deadline for submission of non-competitive tender bids by retail investors through HKSCC	:	Please refer to requirements as set down by HKSCC
Maturity	:	Two years
Maturity Date	:	August 22, 2024 (Thursday)
Interest Rate	:	2.84 per cent p.a.
Interest Payment Dates	:	February 22, 2023 August 22, 2023 February 22, 2024 August 22, 2024
Tender amount	:	Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender. Members of the public who wish to apply for the Notes through non-competitive tenders that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold Investors Accounts at HKSCC’s CCASS, directly through HKSCC. Members of the public who wish to apply for the Notes through competitive tender may only do so through any of the Eligible Market Makers on the current published list.
Other details	:	Please see Information Memorandum published or approach Eligible Market Makers, HKSCC, or brokers who are Exchange Participants of the Stock Exchange of Hong Kong.
Expected commencement date of dealing on the Stock Exchange of Hong Kong	:	August 23, 2022 (Tuesday)

 
     Price/Yield Table of the new EFN at tender for reference* only:
 

Yield-to-Maturity	Price	Yield-to-Maturity	Price
1.840	101.97	2.840	100.04
1.890	101.87	2.890	99.94
1.940	101.78	2.940	99.85
1.990	101.68	2.990	99.75
2.040	101.58	3.040	99.66
2.090	101.48	3.090	99.56
2.140	101.39	3.140	99.47
2.190	101.29	3.190	99.38
2.240	101.19	3.240	99.28
2.290	101.09	3.290	99.19
2.340	101.00	3.340	99.09
2.390	100.90	3.390	99.00
2.440	100.80	3.440	98.91
2.490	100.71	3.490	98.81
2.540	100.61	3.540	98.72
2.590	100.52	3.590	98.63
2.640	100.42	3.640	98.53
2.690	100.32	3.690	98.44
2.740	100.23	3.740	98.35
2.790	100.13	3.790	98.25
2.840	100.04	3.840	98.16

* Disclaimer: The information provided here is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of, the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it. The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here. read more

     â€‹A Government spokesman announced today (August 10) that the supply of fresh food from the Mainland yesterday (August 9) was sufficient and stable.

     According to the latest information, the quantity of vegetables supplied from the Mainland to Hong Kong yesterday (as of midnight) by land and water transportation was about 2 600 tonnes, comparable to the average daily supply from the Mainland on a normal day. The volume of vegetables sold through the wholesale markets of the Agriculture, Fisheries and Conservation Department (AFCD) and the Vegetable Marketing Organization was about 859 tonnes. The average wholesale prices of choi sum and pak choi stood at $6.60 and $7.70 per catty respectively yesterday. The supply of eggs to the wholesale market remained steady, with the average daily supply standing at about 3.6 million for the past week, comparable to the average daily supply on a normal day last year.

     The total supply of chilled meat from the Mainland yesterday was over 37 tonnes. The supply of live pigs was plentiful.

     The supply of chilled poultry from the Mainland was over 150 000 head yesterday, and about 8 000 live chickens were slaughtered locally. The supply was abundant.

     Regarding the rice supply, in compliance with the requirement by the Government, stockholders of rice have to maintain the reserve stock of rice at a level sufficient for consumption by the local population for 15 days. The trade generally stocks double the required amount, which is sufficient for one month’s consumption by Hong Kong citizens. In recent years, the import and consumption of rice in Hong Kong has stood at a steady level of around 320 000 to 330 000 tonnes per year. The import quantity (including reserve stock) as of end-June 2022 was 30 400 tonnes. Suppliers also maintain a reserve for food that can be stored, such as frozen meat, for around three months’ stock generally.

     The Government will continue to maintain close liaison with the Mainland authorities and major food suppliers to ensure a stable food supply.

     The AFCD updates and publishes the fresh food supply information daily. Members of the public may visit the AFCD website for updates on daily supplies and wholesale prices of fresh food (www.afcd.gov.hk/english/agriculture/agr_fresh/agr_fresh.html). read more

     The effective exchange rate index for the Hong Kong dollar on Wednesday, August 10, 2022 is 100.7 (same as yesterday’s index). read more

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     Invest Hong Kong (InvestHK) and the Hong Kong Monetary Authority (HKMA) jointly announced today (August 10) the addition of the Central Bank Digital Currency (CBDC) track to the Global Fast Track 2022, giving local and global firms valuable opportunities to partner with the central banking institution to boost the growth and adoption of fintech in Asia and beyond.
 
     The CBDC track invites banks, fintechs and tech firms to submit innovative solutions in eight focus areas, including retail CBDC (rCBDC) adoption, wholesale CBDC (wCBDC) adoption, programmable money, interoperability, privacy, cybersecurity, foreign exchange and liquidity management, and offline payments. Shortlisted applicants will then enter a pitching session exclusive for the track and compete for three awards, namely the Best Use Case Award, Best Technology Award and Best Ecosystem Award. All qualified candidates may also have the opportunities to work with the HKMA on research projects and pilots to foster the future growth of the CBDC ecosystem.
 
     In recent years, Hong Kong has been leading in international collaborations and research on CBDC, with our work on wCBDC well recognised by the market and ranked as one of the most mature of its kind in the world. The HKMA has been actively guiding the exploration of both wCBDC and rCBDC. The launch of the CBDC track shows that the HKMA is committed to facilitating the sector’s growth, promoting industry engagement, and leveraging new technologies to enhance the financial system.
 
    “CBDC exploration has been high on the agenda of central banks around the world and has gained reasonable traction in recent years. As Hong Kong’s central banking institution, we endeavour to future-proof Hong Kong in terms of CBDC readiness on both wholesale and retail fronts as part of our ‘Fintech 2025’ strategy. This year, we are thrilled to partner with InvestHK and introduce a new CBDC track to the Global Fast Track. We are confident that this new CBDC track will yield fruitful outcomes and bring valuable insights, adding to the wealth of knowledge on CBDC and contributing to an enhanced CBDC ecosystem,” said the Chief Fintech Officer of the HKMA, Mr Nelson Chow.
 
     “We are truly honoured and excited to be working with the HKMA to launch the CBDC track. By connecting private sector leaders directly with the regulator, the track further enables Global Fast Track 2022 to provide comprehensive, one-stop support to innovators around the world, while strengthening Hong Kong’s status as a premier international fintech hub. Following last year’s success, we believe the enriched programme will further facilitate fintech development in the city and beyond,” said Associate Director-General of Investment Promotion of InvestHK Mr Charles Ng.
 
    Application for the CBDC track is now open until mid-September. Meanwhile, InvestHK has unveiled the full list of Corporate, Investor, and Service Champions for this year’s Global Fast Track. In addition, a wide range of exciting partnering programmes, including the Visa Fintech Fast Track and incubator programmes run by Cyberport and Hong Kong Science and Technology Parks Corporation, have also been announced.
 
    Global Fast Track is a one-stop programme with a business matching portal, pitching competition, and mentoring sessions which connect global fintech companies with a diverse range of Asian Corporate, Investor and Service Champions to explore potential business partnerships and investments. The Global Fast Track is organised by InvestHK and co-organised by Finnovasia.
 
     To learn more about the CBDC track and the latest programme updates, visit the Global Fast Track 2022 website: www.globalfasttrack.hk/.  
 
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.
      
About HKMA

     The HKMA is Hong Kong’s central banking institution. The HKMA’s main functions are: (i) maintaining currency stability within the framework of the Linked Exchange Rate System; (ii) promoting the stability and integrity of the financial system, including the banking system; (iii) helping to maintain Hong Kong’s status as an international financial centre, including the maintenance and development of Hong Kong’s financial infrastructure; and (iv) managing the Exchange Fund. read more