Author Archives: hksar gov

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announced today (July 19) the composite interest rate at the end of June 2022 (Note 1).

     The composite interest rate, which is a measure of the average cost of funds of banks, increased by 14 basis points to 0.47 per cent at the end of June 2022, from 0.33 per cent at the end of May 2022 (see Chart 1 in the Annex). The increase in composite interest rate reflected increases in the weighted funding cost for deposits and interbank funds 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 June 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 Government announced today (July 19) 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 districts, and had detected positive results in some areas, indicating that there may be hidden cases in the premises within these areas.
 
Rapid test
 
     As regards positive sewage testing results with relatively high viral loads in the following areas, the respective District Offices will commence distributing about 295 000 sets of the COVID-19 rapid antigen test (RAT) kits to residents, cleaning workers and property management staff working in the following areas for them to take the test on their own, in order to help identify infected persons:
 

• Central & Western District – Residential premises around Queen’s Road West and Belcher’s Street (See Annex)
• Islands District – Yu Tai Court and Caribbean Coast (Monterey Cove, Albany Cove, Carmel Cove, Crystal Cove and La Mer)
• Kwun Tong District – Fu Wah Court, Hiu Kwong Court, Hiu Ming Court, Hiu Wah Building, Kai Tin Tower, Hong Ying Court, Hong Tin Court, Sceneway Garden, Lei On Court, Hong Pak Court, Hong Shui Court, Hong Nga Court, Hong Wah Court and Hong Yat Court
• Yuen Long District – Tan Kwai Garden, Tan Kwai Villa, Trafalgar Gardens, Osmanthus Gardens, Arnold Gardens, Tin Fu Court, Central Park Towers, Central Park Towers Phase 2 and Tin Oi Court

 
     Members of the public may refer to (www.coronavirus.gov.hk/rat/eng/rat.html) for enquiries relating to the use of the RAT kits.
 
     When using an RAT kit, please pay attention to and follow the instructions from the manufacturer to perform the test and read the result properly. It is advisable to record the displayed result by taking a photo immediately after reading. Users should wash their hands before and after performing the tests, and avoid placing non-essential items within the specimen collection area. After completing the test, wrap and seal all components of the test kit carefully and dispose of them properly. If the household environment is contaminated during the specimen collecting process, disinfection should be conducted with 1 in 49 diluted bleach solution or 70 per cent alcohol.
 
     People who obtained a positive result through an RAT for the first time can report via the online platform “Declaration System for individuals tested positive for COVID-19 using Rapid Antigen Test” (www.chp.gov.hk/ratp). If individuals encounter difficulties using the online platform, they can call the automated system at 183 6119 to register their identification document and telephone number. The Centre for Health Protection of the Department of Health will contact the relevant person later to finish the report procedure. read more

     The Secretary for Education, Dr Choi Yuk-lin, visited Hok Yau Club’s Student Guidance Centre today (July 19), a day before the release of the Hong Kong Diploma of Secondary Education (HKDSE) Examination results, to learn about its counselling services and to show support for candidates who receive such services.
 
     Accompanied by Chairman of Hok Yau Club and Legislative Council Member Dr Simon Hoey Lee, Dr Choi toured the Student Guidance Centre and was briefed on its facilities and services, including the further studies and career information centre, the counselling hotline and information services covering publications on examination preparation and further studies.
 
     Dr Choi thanked Hok Yau Club for providing guidance services since 1982, helping generations of candidates of the Hong Kong Certificate of Education Examination, the Hong Kong Advanced Level Examination and the HKDSE Examination. This year, in addition to setting up 38 telephone counselling hotlines, Hok Yau Club has enhanced its online counselling services by adding a visual meeting and live chat platform to cater for the social habits of students living in the new normal. While joining a visual meeting, Dr Choi took the opportunity to thank the counsellors and greet the candidates online with best wishes and encouragement.
 
     Dr Choi said, “Candidates of the current-year HKDSE Examination have faced many challenges, with their three-year senior secondary school life affected by the epidemic. To this end, the Government has joined forces with schools and voluntary organisations to support them and strengthen measures to ensure the smooth conduct of the HKDSE Examination and completion of their secondary education.
 
     “Students may inevitably be anxious before and after the release of examination results. I hope that all of them can relax, in view of the abundant opportunities for further studies and development. If needed, they may talk to their teachers or voluntary organisations. This not only reduces the stress, but also helps them map out their future in a calm manner.”
 
     A total of around 50 000 candidates entered the HKDSE Examination this year. Various institutions have prepared different types of courses providing around 62 000 places in total, allowing students to select a suitable pathway based on their abilities and interests.
 
     Dr Choi encouraged candidates to come up with their own development blueprint, given the diversified study pathways with multiple entry and exit points. She said she was confident that with determination and perseverance they would succeed in whichever pathway they choose.

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     Launched by the Hong Kong Film Archive (HKFA) of the Leisure and Cultural Services Department, the “Movies to GO” series will present a free screening of superstar Bruce Lee’s classic film “The Orphan” (1960), made before he went to the US, at the 1/F Theatre of the Hong Kong Heritage Museum (HKHM) at noon on July 30 to tie in the “A Man Beyond the Ordinary: Bruce Lee” exhibition at the HKHM. The public are invited to attend.

     Ng Cho-fan wrote and produced “The Orphan”, and starred in the film as the head of an orphanage, with Bruce Lee featured as his estranged son. The film is in Cantonese and with Chinese and English subtitles.

     A seminar will be held after the screening. Speakers will include actor Stephen Au and museum expert advisers and veteran film researchers Shu Kei and Sam Ho. The seminar will be conducted in Cantonese. Attendees of the seminar on-site will have opportunities to receive souvenirs of the “A Man Beyond the Ordinary: Bruce Lee” exhibition on a first-come, first-served basis while stocks last. The seminar will be featured in a live webcast via the HKHM Youtube channel and the HKFA Youtube channel on the event day at around 2.25pm.

     Admission to the screening and seminar is free. Audiences should arrive at 1/F Theatre, HKHM at the respective time. Limited space will be available on a first-come, first-served basis. For programme enquiries, please call 2739 2139 or 2180 8188, or visit www.filmarchive.gov.hk/en_US/web/hkfa/pe-event-2022-hkhmhkfa.html.

     In addition, the HKHM will show three classic films of Bruce Lee, namely “The Way of the Dragon” (1972), “The Big Boss” (1971) and “Fist of Fury” (1972), at the 1/F Theatre on July 20 and 23, allowing audience to relive the martial art superstar’s greatest works. For more details, please visit www.heritagemuseum.gov.hk/en_US/web/hm/eventsactivities/programmes/brucelee22.html.

     In order to comply with the requirements stipulated in the Prevention and Control of Disease (Requirements and Directions) (Business and Premises) Regulation (Cap. 599F) and relevant requirements of administrative instructions, visitors are required to scan the “LeaveHomeSafe” QR code before being allowed to enter the venues managed by the LCSD for necessary contact tracing if a confirmed case is found. In accordance with the Prevention and Control of Disease (Vaccine Pass) Regulation (Cap. 599L) and relevant requirements of administrative instructions, all persons entering indoor venues under the management of the LCSD must comply with the requirement of the Vaccine Pass.

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     The Government executed the documents for the non-in-situ land exchange of Sha Lo Tung (SLT) with the Sha Lo Tung Development Company Limited (SLTDC) yesterday (July 18), marking the completion of the land exchange procedures, a Government spokesman said today (July 19). The private land surrendered by the SLTDC and the adjacent Government land amount to over 50 hectares. The Government will adopt a strategy of active nature conservation to take forward the long-term conservation of Sha Lo Tung. This signifies a new important milestone for Hong Kong’s nature conservation policy and demonstrates the Government’s commitment in terms of nature conservation. 
 
     SLT has very high ecological value and ranks second among the 12 priority sites requiring enhanced conservation under the New Nature Conservation Policy, second only to the Mai Po Inner Deep Bay Ramsar Site. The rich and diverse habitats in SLT, such as fung shui woods, freshwater marshes and an “ecologically important stream”, nurture many rare species including butterflies, fireflies, freshwater fish, amphibians and birds, rendering it one of the important breeding and nursery grounds for dragonflies in Hong Kong as well as earning it a reputation for being a sanctuary for dragonflies.
 
     In view of the very high ecological value of SLT, the Government will strike a suitable balance between conserving ecologically sensitive habitats and assisting members of the public in enjoying nature when formulating the long-term conservation plan for SLT, including implementing suitable crowd control measures. The primary means of visiting SLT in future will be mainly by walking. The Government will establish walking trails and signage systems to divide SLT into different habitat zones, in order to minimise the impacts brought about by human activities to the ecological value and wildlife there. The Government will be able to protect the precious ecological resources of SLT while allowing members of the public to enjoy the beautiful scenery there.
 
     In terms of the work of nature conservation, the Government will enhance the quality of the habitats in SLT and increase the biodiversity there through implementing proactive habitat management measures, including protecting important habitats, restoring abandoned agricultural land, enhancing the ecological value of secondary woodlands and removing exotic species. The Government will also provide suitable public facilities (e.g. toilet facilities with low-carbon emission) as necessary, suitably introduce technologies to complement the conservation work and educate visitors on the importance of conserving the ecology of SLT. 
 
     The Government will also maintain communication and liaison with the relevant stakeholders for the long-term conservation of SLT and give due consideration to the views of different stakeholders when mapping out and implementing the future plans for SLT.
 
     For the long-term conservation of SLT, the Chief Executive in Council gave in-principle agreement in June 2017 and approval in February 2021 for the proposed non-in-situ land exchange in SLT. The Government will grant an area of land at the Shuen Wan Restored Landfill in Tai Po to the SLTDC at full market value for developing a private golf course in exchange for its surrender of the ecologically important private land in SLT to the Government. 
 
     The land exchange documents will be registered in the Land Registry and the relevant land transaction records will also be uploaded to the Lands Department’s website, and will be available for public inspection in due course. read more