The Government announced today (July 13) that the Financial Secretary, Mr Paul Chan, under the authority delegated by the Chief Executive pursuant to the Securities and Futures Ordinance (Cap. 571), has re-appointed Mr Brian Ho Yin-… read more
The Environmental Protection Department (EPD) today (July 13) released the latest grading of water quality for 37 gazetted beaches and one non-gazetted beach (Discovery Bay) that are open for swimming.
Nineteen beaches were rated as Good (Grade 1), 13 as Fair (Grade 2) and six as Poor (Grade 3).
Grade 1 beaches are:
| Cheung Chau Tung Wan Beach | Middle Bay Beach |
| Chung Hom Kok Beach | Pui O Beach |
| Deep Water Bay Beach | Repulse Bay Beach |
| Discovery Bay | South Bay Beach |
| Hap Mun Bay Beach | St Stephen’s Beach |
| Hung Shing Yeh Beach | Tong Fuk Beach |
| Kiu Tsui Beach | Trio Beach |
| Kwun Yam Beach | Turtle Cove Beach |
| Lo So Shing Beach | Upper Cheung Sha Beach |
| Lower Cheung Sha Beach |
| Approach Beach | Golden Beach |
| Big Wave Bay Beach | Kadoorie Beach |
| Butterfly Beach | Ma Wan Tung Wan Beach |
| Cafeteria New Beach | Shek O Beach |
| Cafeteria Old Beach | Silverstrand Beach |
| Clear Water Bay First Beach | Stanley Main Beach |
| Clear Water Bay Second Beach |
| Anglers’ Beach | Hoi Mei Wan Beach |
| Casam Beach | Lido Beach |
| Castle Peak Beach | Ting Kau Beach |
The Government today (July 13) announced that Mr Jimmy Kwok has been re-appointed as Chairman of the Energy Advisory Committee, while 19 community personalities have been appointed as members. The appointments are for a term of… read more
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) released today (July 13) the key analytical accounts of the Exchange Fund at the end of June 2018.
Foreign assets, representing the external assets of the Exchange Fund, decreased during the month by HK$0.5 billion to HK$3,539.5 billion.
The Monetary Base, comprising Certificates of Indebtedness, Government‑issued currency notes and coins in circulation, the balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HK$1,652.1 billion.
Claims on the private sector in Hong Kong amounted to HK$212.9 billion.
The analytical accounts of the Exchange Fund are released in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex).
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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 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 July 2018, the scheduled dates for issuing the press releases are as follows:
July 6 (Issued) |
SDDS International Reserves (Hong Kong’s Latest Foreign Currency Reserve Assets Figures) |
| July 13 |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| July 31 |
SDDS Template on International Reserves and Foreign Currency Liquidity |
| July 31 |
Exchange Fund Abridged Balance Sheet and Currency Board Account |
The Financial Secretary has, under the authority delegated by the Chief Executive, appointed five new Convenors and seven new members to the Financial Reporting Review Panel (FRRP). Meanwhile, one Convenor and 13 members have been re-appointed.
The appointments and re-appointments, made in accordance with the Financial Reporting Council (FRC) Ordinance (Cap. 588), are:
New Convenors and members appointed for a term of three years from July 16, 2018, to July 15, 2021:
Mr Mark Douglas Johnson (Convenor)
Mr Paul Shieh Wing-tai (Convenor)
Mr Tang Kwai-chang (Convenor)
Ms Priscilla Wong Pui-sze (Convenor)
Mrs Betty Yuen So Siu-mai (Convenor)
Mr Abraham Chan Lok-shung
Mr Louis Chow Ka-leung
Mr Lee Chun-ho
Mr Leo Lee Chi-ming
Ms Lung Ngan-yee
Mr Christopher Neil Morley
Mr Eric Tang Ying-cheung
A Convenor re-appointed for a term of one year from July 16, 2018, to July 15, 2019:
Mrs Catherine Morley
Members re-appointed for a term of three years from July 16, 2018, to July 15, 2021:
Mr Chan Wai-man
Professor Cheng Cheng-shing
Ms Yvonne Cheng Wai-sum
Mr Jeckle Chiu
Mr Tommy Fung Hon-kwong,
Ms Joan Ho Yuk-wai
Ms Kong Sui-yee
Mr Bernard Jaun Mak Siu-cheung
Ms Agnes Kar-wai Nardi
Mr Hamilton Ty Tang
Mr Tsui Hon-man
Ms Wendy Yuen Miu-ling
Professor Zhang Guo-chang
A Government spokesman said, “The FRC is an important institution tasked to enhance the regulation of the accounting profession and corporate governance of companies listed in Hong Kong. One of the statutory functions of the FRC is to initiate enquiries concerning non-compliance with legal, accounting or regulatory requirements in a listed entity’s financial reports.
“As a statutory body established under the FRC Ordinance, the work of the FRRP is indispensable to the discharge of the FRC’s statutory functions of enquiries. The FRRP will benefit from the rich experience and professional knowledge of the members.”
The spokesman added, “We would also like to take this opportunity to express our heartfelt appreciation to the outgoing Convenors, Mr Andrew Mak Yip-shing and Ms Edith Shih, and the outgoing members, Mr Ambrose Cheung Wing-sum, Mr Mohan Datwani, Ms Ding Chen, Mr Roy Lo Wa-kei and Dr Look Guy, for their valuable contributions to the work of the FRRP in the past years.”
When an enquiry case arises, the FRC will appoint one convenor and four or more members from the FRRP to form a Financial Reporting Review Committee which will enquire into the relevant non-compliance of the case. The Committee will submit an enquiry report on the case to the FRC for consideration and, where appropriate, follow-up action. read more