Author Archives: hksar gov

     An annular solar eclipse will occur on December 26 (Thursday), but it will be visible as a partial solar eclipse in Hong Kong. As the elevation of the sun will be rather high during the eclipse, the event can be best observed at places with an unobstructed view towards the south to southwest if weather permits.
      
     The eclipse will begin at 12.17pm and end at 3.22pm, with the maximum eclipse occurring at 1.55pm. This partial solar eclipse will have a magnitude of 0.46, meaning that 46 per cent of the sun’s diameter will be obscured by the moon at maximum eclipse. The path of the sun and the moon during this partial solar eclipse is indicated in the Annex.
      
     Details of the partial solar eclipse are set out in the following table:
 

Time	Phenomenon	Elevation	Direction (Azimuth)
12.17pm	Eclipse begins	44 degrees	South (178 degrees)
1.55pm	Maximum eclipse	39 degrees	South-southwest (207 degrees)
3.22pm	Eclipse ends	27 degrees	Southwest (226 degrees)

 
     Members of the public should never look directly at the sun with the naked eye nor through a telescope to avoid severe eye damage. A safer method is to project the sun’s image through a pinhole or a telescope onto a piece of white paper or cardboard and view the projected image. An illustration of the method is given on the website of the Hong Kong Observatory at www.hko.gov.hk/en/gts/event/event-solar-eclps16.htm.
      
     Members of the public can watch the whole event via a webcast to be jointly provided by the Hong Kong Observatory, the Hong Kong Space Museum, the Ho Koon Nature Education cum Astronomical Centre (sponsored by Sik Sik Yuen), Po Leung Kuk Ngan Po Ling College and the Hong Kong Sheng Kung Hui Solar Tower‧Camp on the following webpage: www.hko.gov.hk/en/gts/event/webcast-20191226.htm.
      
     For the latest weather conditions and the astronomical observation conditions on December 26, please refer to the nine-day weather forecast issued by the Hong Kong Observatory (www.hko.gov.hk/en/wxinfo/currwx/fnd.htm) and the Weather Information for Astronomical Observation webpage (www.hko.gov.hk/en/gts/astronomy/astro_portal.html).
      
     Please refer to the Hong Kong Observatory’s webpage for a detailed explanation of the technical terms used for different stages of the eclipse and past solar eclipses observable in Hong Kong: www.hko.gov.hk/en/gts/event/event-solar-eclps1.htm.
      
     The next solar eclipse observable in Hong Kong will occur on June 21, 2020. It will be a partial solar eclipse. read more

     Following is the speech by the Secretary for Financial Services and the Treasury, Mr James Lau, at the Best Corporate Governance Awards 2019 Awards Presentation Luncheon this afternoon (December 5):

Patrick (President of the Hong Kong Institute of Certified Public Accountants (HKICPA), Mr Patrick Law), ladies and gentlemen,
 
     Good afternoon. I had to miss your annual dinner last Monday but I am glad to be here today for the ceremony for the Best Corporate Governance Awards organised by the HKICPA.
 
     The different categories of 26 awards are witnesses of many corporates striving very hard to achieve excellence in corporate governance. We are here to congratulate the winning companies but we do recognise the efforts and commitments of all participants.
 
     Today I’d like to touch briefly on one aspect of global corporate governance, and that is sustainability and social responsibility. The United Nations Climate Change Conference, COP25, is meeting these two weeks in Madrid. They just issued a carbon tracking report yesterday that pointed to a rise in global carbon emission, notwithstanding commitments in previous conferences. 
 
     Sustainable development requires global efforts, and that includes us in Hong Kong. We are today in the 20th anniversary of the Awards and it is coincidental that it is called china anniversary, with a lowercase “c”. China, with a capital “C”, actually accords very high priority to sustainable development and social responsibility. When China was the G20 chair in 2016, it pushed very hard for the ratification of the COP21 Paris Agreement. But, on the contrary, a major G20 member has very recently started the process to withdraw from the Paris Agreement. Against this tide, Hong Kong still needs to play our role and our part for the greater global good. As the premier international financial centre in Asia, we have to shape our role as a regional hub for green finance through three different avenues.
 
     First, we have issued guidance for environmental, social and governance (ESG) investment products as well as ESG reporting. In April, the Securities and Futures Commission (SFC) published guidance on enhanced disclosures for ESG investment funds in order to enhance transparency, comparability and credibility for their product offerings. As for ESG reporting for listed companies, the Hong Kong Exchanges and Clearing Limited published ESG guidance materials in May to improve issuers’ disclosure of ESG activities and metrics. In September, the Hong Kong Green Finance Association published guidelines on impact assessment for green bonds.
 
     Secondly, the Hong Kong Monetary Authority (HKMA) set up in May the Centre for Green Finance under the Infrastructure Financing Facilitation Office as a platform for technical support for industry players in banking and finance. The HKMA has also decided in its management of the Exchange Fund to accord priority to green and ESG investments. The HKMA will continue to organise workshops to enhance green awareness and capacity building in Hong Kong.
 
     The third point is about multilateral collaboration. In June, the HKMA joined the Network of Central Banks and Supervisors for Greening the Financial System to explore how to incorporate climate risk and other related factors in supervisory framework and macro surveillance work. The SFC will also be leading a working group for member regulators of the IOSCO (International Organization of Securities Commissions) in Asia-Pacific to consider recommendations for redirecting capital towards green and sustainable investments.
 
     Let me close by just citing an example why Hong Kong, for its own sake, should champion sustainable development. Hong Kong is a low-lying coastal city and is susceptible to flooding from the rising sea level. The super typhoon Mangkhut that we saw in September last year caused serious and extensive damage to Hong Kong. The severe flooding we saw in Hong Kong and Macao is a dire reminder for all of us on the importance of sustainable development and, in this particular case, climate change. So, let us join hands and make this world a better and more sustainable one. 
 
     Thank you very much. read more

The following is issued on behalf of the Legislative Council Secretariat:        The Legislative Council (LegCo) House Committee will hold a special meeting at 2.30pm tomorrow (December 6) in Conference Room 1 of the LegCo Co… read more

     The effective exchange rate index for the Hong Kong dollar on Thursday, December 5, 2019 is 106.5 (down 0.1 against yesterday’s index). read more

     The Lands Department (LandsD) reported today (December 5) that since the establishment of the Special Duties Task Force to step up enforcement against unlawful occupation of sizeable government land and large-scale unauthorised… read more