Tag Archives: China

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Territory-wide flag day today

     InspiringHK Sports Foundation Limited has been issued a Public Subscription Permit to hold a territory-wide flag sale from 7am to 12.30pm today (February 17), a spokesman for the Social Welfare Department (SWD) said. 

     Details of the charitable fund-raising activities, including any updated information, covered by the issued Public Subscription Permits have been published on the GovHK website (www.gov.hk/en/theme/fundraising/search). Permits for flag days containing information on contact methods of the flag-selling organisations and the approved flag-selling activities have also been uploaded to the SWD’s website (www.swd.gov.hk/en/ngo/controlofc/flagdays) for reference. For enquiries, please call the SWD’s hotline at 2343 2255, or the designated hotline of the 1823 Call Centre at 3142 2678.

     In the case of suspected fraudulent flag day activities, people should not make any donation and should immediately report the matter to the Police, the spokesman added. read more

Government appoints directors to HKEX Board

     The Government announced today (February 16) that the Financial Secretary has appointed Mr Chan Kin-por and Mr Peter Yan King-shun as members of the Board of Directors of the Hong Kong Exchanges and Clearing Limited (HKEX) in place of Mrs Laura Cha May-lung and Mr Benjamin Hung Pi-cheng; and re-appointed Mrs Susan Chow Woo Mo-fong as a member of the Board of Directors of the HKEX. The terms of the appointments and re-appointment are around two years, from the conclusion of the 2024 Annual General Meeting (AGM) of the HKEX until the conclusion of the 2026 AGM. 

     The Government expressed gratitude to Mrs Cha and Mr Hung for their contributions during their tenure of service.

     The Financial Secretary, Mr Paul Chan, said, “During her chairmanship of the HKEX, with the support of the Government, Mrs Cha has proactively enhanced the HKEX’s fundraising capabilities, including launching new listing regimes for innovative and specialised technology companies as well as special purpose acquisition companies, facilitating overseas companies and “China concept stocks” to list in Hong Kong, deepening and expanding the mutual market access with the Mainland financial markets, improving the trading mechanism for Hong Kong Dollar-Renminbi dual-currency securities products, etc. She has made remarkable accomplishments and achieved outstanding results for the development of Hong Kong’s securities market and as an international financial centre. I would also like to express my sincere appreciation to Mr Hung for his dedicated service and valuable contributions during the last six years.”

     Mr Chan added, “For the three appointees, they are all familiar with the financial market, and are leaders in their respective professional fields. They also have vast experience in public services. I look forward to their collaborative efforts with other Board members to assist the HKEX in developing an increasingly diversified market development strategy, providing enhanced services to corporations on fundraising, accelerating the adoption of more innovative technological applications, and further strengthening its risk management framework. I am confident that the Board of Directors of the HKEX will continue to promote the development of Hong Kong into a more vibrant, upscale, broader and deeper international fundraising platform.”

     The above appointments are made in accordance with section 77 of the Securities and Futures Ordinance. The Board of Directors of the HKEX comprises a maximum of six directors appointed by the Financial Secretary, a maximum of six directors elected by shareholders, and the Chief Executive of the HKEX. The other incumbent directors appointed by the Financial Secretary are Ms Nisa Leung Wing-yu, Mr Carlson Tong Ka-shing and Mr Joseph Yam Chi-kwong. read more

Eight landlords of subdivided units under regulated tenancies convicted of contravening relevant statutory requirements

     Eight landlords of subdivided units (SDUs) who contravened Part IVA of the Landlord and Tenant (Consolidation) Ordinance (Cap. 7) (the Ordinance) pleaded guilty and were fined a total of $9,300 today (February 16) at the Eastern Magistrates’ Courts. Since the Ordinance has come into force, a total of 125 SDU landlords have been convicted of contravening the Ordinance.
 
     The offences of these landlords include (1) failing to submit a Notice of Tenancy (Form AR2) to the Commissioner of Rating and Valuation within 60 days after the term of the regulated tenancy commenced; and (2) failing to provide the tenant with a rent receipt. One of the landlords who contravened four offences under (1) above was fined $3,200.
 
     The Rating and Valuation Department (RVD) earlier discovered that the landlords failed to comply with the relevant requirements under the Ordinance. Upon an in-depth investigation and evidence collection, the RVD prosecuted against the landlords.
 
     A spokesman for the RVD hopes that these convictions will send a strong message to SDU landlords that they must comply with the relevant requirements under the Ordinance, and also remind SDU tenants of their rights under the Ordinance. He also stresses that the RVD will continue to take resolute enforcement action against any contraventions of the Ordinance. Apart from following up on reported cases, the RVD has been adopting a multipronged approach to proactively identify, investigate and follow up on cases concerning landlords who are suspected of contravening the Ordinance. In particular, the RVD has been requiring landlords of regulated tenancies to provide information and reference documents of their tenancies for checking whether the landlords concerned have complied with the requirements of the Ordinance. If a landlord, without reasonable excuse, refuses to provide the relevant information or neglects the RVD’s request, the landlord commits an offence and is liable to a fine at level 3 ($10,000) and to imprisonment for three months. Depending on the actual circumstances and having regard to the information and evidence collected, the RVD will take appropriate actions on individual cases, including instigating prosecutions against suspected contravention of the Ordinance.
 
    The RVD spokesman appeals to members of the public to come forward and report to the RVD promptly any suspected cases of contravening the relevant requirements. This would help curb illegal acts as soon as possible. Reporting can be made through the telephone hotline (2150 8303), by email (enquiries@rvd.gov.hk), by fax (2116 4920), by post (15/F, Cheung Sha Wan Government Offices, 303 Cheung Sha Wan Road, Kowloon), or in person (visiting the Tenancy Services Section office of the RVD at Room 3816-22, 38/F, Immigration Tower, 7 Gloucester Road, Wan Chai, Hong Kong, and please call 2150 8303 to make an appointment). Furthermore, the RVD has provided a form (Form AR4) (www.rvd.gov.hk/doc/en/forms/ar4.pdf) on its website to facilitate SDU tenants’ reporting to the RVD.
 
     The RVD reminds that pursuant to the Ordinance, a regulated cycle of regulated tenancies is to comprise two consecutive regulated tenancies (i.e. the first-term tenancy and second-term tenancy) for an SDU, and the term of each regulated tenancy is two years.  A tenant of a first-term tenancy for an SDU is entitled to be granted a second-term tenancy of the regulated cycle, thus enjoying a total of four years of security of tenure. Since the first batch of regulated tenancies already approached their second-term tenancies, the RVD has started a new round of publicity and education work in order to assist SDU landlords and tenants to understand the important matters pertaining to the second-term tenancy, and procedures that need to be followed about two months prior to the commencement of the purported second-term tenancy. In addition, the RVD has started issuing letters enclosing relevant information to the concerned landlords and tenants of regulated tenancies by batches, according to the expiry time of their first-term tenancies, to remind them about their respective obligations and rights under the Ordinance. These landlords and tenants may also visit the dedicated page for the second-term tenancy on the RVD’s website (www.rvd.gov.hk/en/tenancy_matters/second_term_tenancy.html) for the relevant information, including a concise guide, brochures, tutorial videos and frequently asked questions, etc. SDU landlords and tenants are also advised to familiarise themselves with the relevant statutory requirements and maintain close communication regarding the second-term tenancy for handling the matters properly and in a timely manner according to the Ordinance.
 
     For enquiries related to regulated tenancies, please call the telephone hotline (2150 8303) or visit the RVD’s webpage (www.rvd.gov.hk/en/our_services/part_iva.html) for the relevant information.  read more