Talent List to attract quality people

     The Government promulgated today (August 28) the first Talent List of Hong Kong. Aiming to attract quality people from around the world in a more effective and focused manner to support Hong Kong's development as a high value-added and diversified economy, the Talent List, which contains 11 professions, has been drawn up after extensive consultation with the stakeholders.

     The Talent List highlights specific professions needed most for Hong Kong's economic development. In order to attract relevant world talents to Hong Kong, immigration facilitation is provided to eligible persons under the Talent List through the Quality Migrant Admission Scheme (QMAS) within its existing annual quota of 1 000. Successful applicants under the QMAS are not required to have secured an offer of local employment for settlement in Hong Kong. For applicants who meet the specifications of the respective profession under the Talent List, bonus marks will be given under the General Points Test of the QMAS.

     The 11 professions are listed as follows:

(a) Experienced waste treatment specialists/engineers;

(b) Experienced management professionals in asset management including but not limited to trust fund management;

(c) Experienced professionals in marine insurance;

(d) Actuaries;

(e) Experienced professionals in Fintech;

(f) Experienced data scientists and experienced cyber security specialists;

(g) Innovation and technology experts in, but not limited to, the following fields: (i) pharmaceutical and life science/biotechnology; (ii) data engineering (e.g. data mining/data analytics), artificial intelligence, robotics, distributed ledger technologies, biometric technologies and industrial/chemical engineering, etc.; and (iii) materials science/nanotechnology;

(h) Naval architects;

(i) Marine engineers and superintendents of ships;

(j) Creative industries professionals in: (i) music: recording engineers, mastering engineers, and cutting/pressing engineers for Vinyl LP; (ii) digital entertainment: game development experts (game designers, game programmers and game graphic designers) and game producers; and (iii) films: various roles in pre-production, production and post-production and winner of designated renowned international film festivals; and

(k) Dispute resolution professionals specialising in resolving international financial and investor-state disputes, and transactional lawyers with specialised knowledge of and experience in cross-border transactions from investing or host states.

     Detailed information on the 11 professions in the Talent List and qualification/experience requirements of the talents can be found in the dedicated website for the Talent List (www.talentlist.gov.hk) launched today.

     The Chief Secretary for Administration and Chairman of the Human Resources Planning Commission, Mr Matthew Cheung Kin-chung, said, "Hong Kong welcomes talents from all over the world with valuable skills, knowledge and experience to work here, bringing their talent into full play and further developing their careers. The promulgation of the Talent List is one of our major initiatives to enhance our competitive advantages in attracting international talents, creating cluster effects, stimulating the development of local talents and propelling Hong Kong forward."

     Application under the QMAS for eligible persons in the Talent List starts today. Information on application arrangements can be found in the websites of the Talent List and the QMAS (www.immd.gov.hk/eng/services/visas/quality_migrant_admission_scheme.html). Meanwhile, the QMAS continues to welcome talents from other industries and sectors not covered by the Talent List.

     With the joint efforts of Government's overseas and Mainland Economic and Trade Offices, as well as the support of industry stakeholders, the Talent List will be publicised with the theme "Hong Kong • Talent Hub – Unlimited Opportunities" to attract targeted quality talents from around the world.

     The Talent List will be regularly updated to ensure that it can keep up with Hong Kong's latest economic development and the changing needs for different talents.




Yuen Long food premises Pao Dim Tat Yan convicted for illegal wastewater discharge

     â€‹Yuen Long food premises Pao Dim Tat Yan at Yuen Long New Street discharged sub-standard wastewater into a communal storm drain and was fined $30,000 by Fanling Magistrates' Courts today (August 28) for contravening the Water Pollution Control Ordinance (WPCO).
      
     The Environmental Protection Department (EPD) officers conducted a blitz inspection in Yuen Long in January and found that sub-standard wastewater was being discharged by the food premises concerned into a communal storm drain at the rear lane, thus polluting nearby drainage channels. After evidence gathering, the EPD initiated prosecution against the operator of the restaurant in accordance with the WPCO.
      
     The EPD spokesman said that anyone who directly discharges untreated wastewater into storm drains will pollute the environment and adversely affect public hygiene. The spokesman reminded the responsible persons of food premises that they should ensure proper operation of their wastewater treatment facilities and properly treat wastewater before its discharge to avoid causing environmental pollution.
      
     Under the WPCO, anyone who discharges wastewater into storm drains commits an offence. First-time offenders are liable to a maximum fine of $200,000 and six months' imprisonment. A maximum fine of $400,000 and six months' imprisonment may be imposed on second or subsequent convictions.




Effective Exchange Rate Index

     The effective exchange rate index for the Hong Kong dollar on Tuesday, August 28, 2018 is 103.7 (down 0.2 against yesterday's index).




Housing Authority sets rents for three new estates

The following is issued on behalf of the Hong Kong Housing Authority:
 
     Rents for 1 753 flats, tentatively scheduled for completion between August and December 2018, in four non-standard blocks at three Hong Kong Housing Authority (HA) public rental housing (PRH) estates will be set at the best rent levels in their respective districts.
 
     The best rent for flats in the Urban District will be adjusted in September to $85.50 per square metre per month. This rate will apply to 518 flats in one block in Yau Lai Estate in Kwun Tong (Eastern Harbour Crossing Site, Phase 7) and 487 flats in two blocks in Shek Kip Mei Estate in Sham Shui Po (Shek Kip Mei, Phases 3 and 7).
 
     The best rent at $82.70 per square metre per month for flats in Sha Tin District after adjustment in September will apply to 748 flats in one block in Shek Mun Estate (Shek Mun, Phase 2).
 
     "Under this rent-fixing exercise, over 46 per cent of the flats are set at a rent level below $2,500 per month," a spokesman for the HA said today (August 28), adding that PRH rents, which are inclusive of rates, management fees and maintenance costs, are heavily subsidised.
 
     "PRH applicants who are allocated new flats but cannot afford the rents may request refurbished flats at lower rents, and they may also apply for assistance under the Rent Assistance Scheme for flats in older block types where applicable," the spokesman added.




Hong Kong Monetary Authority Exchange Fund Bills Tender Results

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

     Hong Kong Monetary Authority Exchange Fund Bills Tender Results:
 

Tender date : August 28, 2018
Paper on offer : EF Bills
Issue number : Q1835
Issue date : August 29, 2018
Maturity date : November 28, 2018
Amount applied : HK$106,126 MN
Amount allotted : HK$43,522 MN
Average yield accepted : 1.41 PCT
Highest yield accepted : 1.44 PCT
Pro rata ratio : About 12 PCT
Average tender yield : 1.46 PCT
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Tender date : August 28, 2018
Paper on offer : EF Bills
Issue number : H1864
Issue date : August 29, 2018
Maturity date : February 27, 2019
Amount applied : HK$38,220 MN
Amount allotted : HK$13,000 MN
Average yield accepted : 1.60 PCT
Highest yield accepted : 1.62 PCT
Pro rata ratio : About 60 PCT
Average tender yield : 1.69 PCT

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     Hong Kong Monetary Authority Tenders to be held in the week beginning September 3 :
 

Tender date : September 4, 2018
Paper on offer : EF Bills
Issue number : Q1836
Issue date : September 5, 2018
Maturity date : December 5, 2018
Tenor : 91 Days
Amount on offer : HK$48,904 MN
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Tender date : September 4, 2018
Paper on offer : EF Bills
Issue number : H1865
Issue date : September 5, 2018
Maturity date : March 6, 2019
Tenor : 182 Days
Amount on offer : HK$12,000 MN
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Tender date : September 4, 2018
Paper on offer : EF Bills
Issue number : Y1894
Issue date : September 5, 2018
Maturity date : September 4, 2019
Tenor : 364 Days
Amount on offer : HK$5,000 MN