Attention duty announcers, radio and TV stations: Please broadcast the following as soon as possible and repeat it at suitable intervals: Members of the public are advised to report any street flooding that comes to … read more
Owing to the thunderstorm warning, the flag-raising ceremony to be conducted at Golden Bauhinia Square, Wan Chai at 8am today (June 7) will be cancelled. read more
Following is the transcript of remarks by the Secretary for Transport and Housing, Mr Frank Chan Fan, at a media session after attending the Legislative Council meeting today (June 6):
Reporter: Is it acceptable that it’s taken even longer for the MTR to submit the report?
Secretary for Transport and Housing: I would say that it would be required for them to submit a very detailed and comprehensive report to the Government. Therefore if they require more time to acquire the information from their main contractor and subcontractor, we would allow for that because there’s a need for us and the entire community to clearly understand what had happened, and whether or not any wrongdoings had been committed.
(Please also refer to the Chinese portion of the transcript.) read more
The Hong Kong Economic and Trade Office in Berlin (HKETO Berlin) hosted a cocktail reception on June 5 in Vienna together with the Hong Kong General Chamber of Commerce (HKGCC) and the Vienna Chamber of Commerce and Industry. Staged on the occasion of the visit by an HKGCC delegation to Austria, the event had close to 100 guests from Austrian businesses and start-up companies as well as the Austrian Government and local associations in attendance.
The HKGCC delegation travelled from Hong Kong to Vienna to explore possible collaboration with the Austrian business sector, particularly in innovation and technology as well as creative industries – areas in which Hong Kong is the perfect partner for Austria.
Highlighting the recent visit of the President of the Austrian Federal Economic Chamber (WKÖ), Dr Harald Mahrer, and the Vice President of the WKÖ, Mr Jürgen Roth, to Hong Kong earlier this year, the Director of HKETO Berlin, Ms Betty Ho, highlighted the growing ties between Hong Kong and Austria over the years.
Striking similarities between the two regions are obvious, she said. While Austria connects the economies in Central and Eastern Europe, Hong Kong serves as a gateway to the abundant markets in Mainland China and the whole Asia-Pacific region. In its role as a facilitator, Hong Kong serves as the entry point for goods and services of Austrian companies to tap the immense opportunities presented by the Chinese market.
Ms Ho took the opportunity to introduce the various new infrastructure projects in Hong Kong and how they will enhance connectivity in the Guangdong-Hong Kong-Macao Bay Area. The Chairman of the HKGCC’s Europe Committee and head of the delegation to Austria, Mr Stephen Weatherseed, added that Austria has been “in the vanguard of the global technology race and the city of Vienna is considered a leader in smart city development worldwide, from which we in Hong Kong are keen to learn more”.
In addition to travelling to Austria, the HKGCC delegation will also visit Prague in the Czech Republic and meet with companies and institutions there.
About HKETO Berlin
HKETO Berlin is the official Hong Kong Special Administrative Region Government representative in commercial relations and other economic and trade matters in Austria as well as the Czech Republic, Germany, Hungary, Poland, the Slovak Republic, Slovenia and Switzerland. read more
The Chief Executive in Council has approved that a resolution be introduced into the Legislative Council (LegCo) to authorise the Government to borrow sums not exceeding HK$100 billion or equivalent to implement the Government Green Bond Programme.
The Secretary for Financial Services and the Treasury, Mr James Lau, said today (June 6), “The Programme will help promote the development of green finance in Hong Kong by encouraging issuers to arrange financing for their green projects through our capital markets. It should also raise investor awareness and the local green investor base will grow as a result of our efforts.
“Global investments in environmental projects grew rapidly in recent years. I have every confidence that the financial services industry will seize the opportunities in green financing, and thus help consolidate Hong Kong’s status as an international financial centre and develop Hong Kong into a regional green finance hub.”
Sums raised under the Programme will be credited to the Capital Works Reserve Fund of the Government for funding public works projects with environmental benefits to demonstrate the Government’s support for sustainable development and its determination to combat climate change and promote the development of green finance.
The Programme will align with guidelines/standards widely accepted by global investors for green bond issuance. To follow the best market practice and set a good example for other potential green issuers, the Government is inclined to engage independent reviewers to verify and/or certify the alignment of the frameworks of individual issuances under the Programme with these green bond issuance standards.
The borrowing ceiling of the Programme is proposed to be set at HK$100 billion in order to promote the sustainable development of green finance in Hong Kong. The borrowing ceiling refers to the maximum amount of outstanding principal at any time under the Programme, i.e. the principal amount of bonds issued minus that of bonds matured.
Mr Lau added, “Subject to the LegCo’s approval for the resolution, we will implement the Programme as soon as possible to facilitate the inaugural government green bond issuance within this financial year.”
The Hong Kong Monetary Authority will assist in implementing green bond issuance under the Programme.
To promote the development of green finance in Hong Kong, the Chief Executive announced in her 2017 Policy Address that the Government would take the lead in arranging the issuance of a green bond in the 2018-19 financial year. The Financial Secretary further announced in the 2018-19 Budget that the Government will launch the Programme with a borrowing ceiling of HK$100 billion to facilitate the issuance of an inaugural government green bond.
Subject to deliberation within LegCo over the legislative process, the Government will move the resolution in the LegCo on June 27, 2018.
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