Author Archives: hksar gov

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) announced today (January 7) that the official foreign currency reserve assets of Hong Kong amounted to US$441.3 billion as at the end of December 2019 (end-November 2019: US$434.2 billion) (Annex).
 
     There were no unsettled foreign exchange contracts at end-December 2019 (end-November 2019: US$0.1 billion).
 
     The total foreign currency reserve assets of US$441.3 billion represent over six times the currency in circulation or about 46 per cent of Hong Kong dollar M3.

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     At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency. For the month of January 2020, the scheduled dates for issuing the press releases are as follows:
 

     A plastic recycling site in Shui Lau Tin, Yuen Long belonging to Eastone Investment Limited generated excessive noise, causing a nuisance to nearby residents. The company was convicted and fined $10,000 at Fanling Magistrates’ Courts today (January 7) for contravening the Noise Control Ordinance (NCO).

     The Environmental Protection Department (EPD) received a complaint from a member of the public earlier about the above-mentioned plastic recycling site causing a noise nuisance. After carrying out an investigation and a noise assessment at the scene, EPD officers confirmed that the plastic recycling site generated excessive noise at night. The EPD then issued a noise abatement notice to the operating company of the plastic recycling site, mandating the implementation of effective noise mitigation measures with the aim of ensuring that noise generated at the site is lower than the relevant statutory limit.

     During a follow-up inspection, enforcement officers of the EPD discovered that the plastic recycling site did not comply with the requirements of the notice by generating noise reaching 58 decibels (dBs) at night, exceeding the relevant statutory limit by 8 dBs. The noise generated at the site caused a great nuisance to nearby residents. Subsequently, the EPD prosecuted the operating company of the plastic recycling site in accordance with the law.

     A spokesman for the EPD reminded operators of plastic recycling sites that they must properly design their workshops and install suitable as well as effective pollution control and noise abatement equipment. They must also arrange for experienced technicians to carry out regular inspections and maintenance of their equipment with a view to avoiding the day-to-day operation of such equipment causing a nuisance to nearby residents.

     In addition to strengthening law enforcement, the EPD will hold briefings in collaboration with the Secretariat of the Recycling Fund on guidance about the recycling of plastics. The EPD will also produce a leaflet (see Annex, in Chinese only) to explain to members of the plastic recycling sector the related matters of environmental protection with a view to helping them avoid illegal activities.

     According to the NCO, anyone not complying with the requirements of a noise abatement notice commits an offence. Offenders may be liable to a maximum fine of $100,000 on first conviction. A maximum fine of $200,000 may be imposed on a subsequent conviction. read more

     Special traffic arrangements will be implemented in Happy Valley tomorrow (January 8). The arrangements will come into effect one and a half hours before the start of the first race and will last until the crowds have dispersed after the race meeting.

A. Traffic arrangements before the commencement of the first race

1. Road closure

     Southbound Wong Nai Chung Road between Queen’s Road East and the up-ramp outside Hong Kong Jockey Club (HKJC) will be closed except for vehicles heading for Aberdeen Tunnel.

2. Traffic diversions

– Southbound Wong Nai Chung Road between Village Road and the up-ramp outside HKJC will be re-routed one way northbound;
– Traffic along eastbound Queen’s Road East heading for Wan Chai and Happy Valley will be diverted to turn left to Morrison Hill Road;
– Traffic along southbound Morrison Hill Road heading for Happy Valley will be diverted via Sports Road and Wong Nai Chung Road;
– Traffic along Queen’s Road East cannot turn right to Wong Nai Chung Road except for vehicles heading to Aberdeen Tunnel;
– Traffic from Cross Harbour Tunnel heading for Queen’s Road East will be diverted via the down-ramp leading from southbound Canal Road flyover to Morrison Hill Road to turn right at the junction of Wong Nai Chung Road and Queen’s Road East; and
– Traffic from Cross Harbour Tunnel heading for Happy Valley or Racecourse will be diverted via the down-ramp leading from southbound Canal Road flyover to Canal Road East, southbound Morrison Hill Road, Sports Road and Wong Nai Chung Road.

B. Traffic arrangements before the conclusion of race meeting

1. Road closure

     The following roads will be closed from about 35 minutes before the start of the last race:

– The up-ramp on Wong Nai Chung Road outside HKJC leading to Aberdeen Tunnel;
– Southbound Wong Nai Chung Road between Queen’s Road East and the up-ramp leading to Aberdeen Tunnel;
– Southbound Wong Nai Chung Road between Village Road and the Public Stands of HKJC;
– Westbound Leighton Road between Wong Nai Chung Road and Canal Road East; and
– Southbound Morrison Hill Road between Leighton Road and Queen’s Road East.

     In addition, southbound Wong Nai Chung Road between the up-ramp leading to Aberdeen Tunnel and the Public Stands of HKJC will be closed from about 10 minutes before the start of the last race.

2. Traffic diversions

     The following traffic diversions will be implemented from about 35 minutes before the start of the last race:

– Eastbound Queen’s Road East at its junction with Morrison Hill Road will be reduced to one-lane traffic heading for northbound Canal Road flyover;
– Traffic from Cross Harbour Tunnel heading for Wan Chai will be diverted via the down-ramp leading from southbound Canal Road flyover to Canal Road East, U-turn slip road beneath Canal Road flyover, Canal Road West and Hennessy Road;
– Traffic from Cross Harbour Tunnel heading for Happy Valley will be diverted via the down-ramp leading from southbound Canal Road flyover to Canal Road East, eastbound Leighton Road and Wong Nai Chung Road;
– Traffic along southbound Morrison Hill Road will be diverted to turn left to eastbound Leighton Road;
– Traffic along southbound Morrison Hill Road heading for Happy Valley will be diverted via eastbound Leighton Road and Wong Nai Chung Road; and
– Traffic along westbound Leighton Road will be diverted to Wong Nai Chung Road.

C. Learner drivers prohibition

     Learner drivers will be prohibited to turn left from Caroline Hill Road to Leighton Road between one and a half hours before the start of the first race and one hour after the last race. In addition, learner drivers will be prohibited from accessing the following roads within the above period of time:

– Shan Kwong Road between Yik Yam Street and Wong Nai Chung Road;
– Village Road between its upper and lower junctions with Shan Kwong Road;
– Percival Street between Hennessy Road and Leighton Road;
– Canal Road East; and
– The service road leading from Gloucester Road to Canal Road flyover.

D. Suspension of parking spaces

     Parking spaces on southbound Wong Nai Chung Road between Sports Road and Blue Pool Road will be suspended from 11am to 7pm during day racing, from 4.30pm to 11.59pm during evening racing, and from 5pm to 11.59pm during night racing.

     Any vehicles found illegally parked within the precincts of the above affected areas will be towed away without prior notice.

     Actual implementation of road closure and traffic diversion will be made by the Police at the time depending on traffic conditions in the areas. Motorists should exercise tolerance and patience, and follow the instructions of Police on site. read more

     The effective exchange rate index for the Hong Kong dollar on Tuesday, January 7, 2020 is 106 (down 0.3 against yesterday’s index). read more

The following is issued on behalf of the Hong Kong Monetary Authority:      Exchange Fund Bills tender results:   Tender date : January 7, 2020 Paper on offer : EF Bills … read more