Tag Archives: China

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

     The Hong Kong Monetary Authority (HKMA) and Invest Hong Kong (InvestHK) jointly hosted a seminar on overseas treasury management in Guangzhou today (May 29) to promote the advantages of establishing Corporate Treasury Centres (CTCs) and conducting financing activities in Hong Kong to corporations in Guangdong Province.
 
     The seminar on “Guangdong-Hong Kong-Macao Bay Area – New Opportunities arising from Overseas Treasury Management” covered how corporations in Guangdong Province can make use of Hong Kong’s strengths and policies to manage overseas treasury and financing activities as they proactively invest abroad, especially against the backdrop of the Belt and Road Initiative and the Bay Area development.
 
     The seminar was attended by around 100 participants, including the representative of the People’s Bank of China Guangzhou Branch and finance professionals from large corporations in Guangdong Province. Senior representatives from the HKMA, Bank of China (Hong Kong) and Deloitte introduced Hong Kong’s CTC tax regime, the “Pilot Bond Grant Scheme” and the “Green Bond Grant Scheme”, as well as shared insights on various areas including market trends, tax arrangements, bank services and business operations.
 
     The Chief Executive of the HKMA, Mr Norman Chan, said, “Being a premier international financial centre in Asia, Hong Kong is an ideal location for corporates to set up their CTCs and conduct financing activities. Over 100 corporates already benefitted from the CTC tax regime in the first year of its introduction. With the implementation of the Bay Area development, the ‘going out’ momentum of corporates in Guangdong Province will remain strong. The HKMA will continue to promote and support more corporates in Guangdong Province to ‘go out’ and set up their CTCs in Hong Kong.”
 
     The Director-General of Investment Promotion, Mr Stephen Phillips, said, “Hong Kong offers Mainland and international companies an ideal location with unparalleled connectivity for an Asia-wide business. The benefits of the corporate treasury centre are a key part of the overall attraction for businesses from around the world. As Hong Kong offers new, exciting opportunities arising from the focus on innovation, the Belt and Road Initiative, and the Bay Area development, InvestHK will encourage and support even more companies to set up corporate treasury centres in Hong Kong.”

  

     Construction contractors, site supervising teams, front-line supervisors and workers with outstanding safety performance were commended at the 24th Considerate Contractors Site Award Scheme Award Presentation Ceremony today (Ma… read more

The following is issued on behalf of the Transport Advisory Committee:        The Transport Complaints Unit (TCU) of the Transport Advisory Committee received 5 543 complaints and suggestions in the first quarter of 2018, wit… read more

     Two men and a woman were fined from $4,000 to $8,000 at Eastern Magistrates’ Courts today (May 29) for contravening the Hotel and Guesthouse Accommodation Ordinance.

     The courts heard that in October last year, officers of the Office of the Licensing Authority (OLA), the Home Affairs Department, inspected three suspected unlicensed guesthouses on Des Voeux Road West in Sai Ying Pun, Bonham Strand and Bonham Strand West in Sheung Wan. During the inspections, the OLA officers posed as lodgers and successfully rented rooms in these guesthouses on a daily basis.

     According to the OLA’s records, these guesthouses did not possess licences under the Ordinance on the days of inspection. The men and woman responsible for operating the premises were charged with contravening section 5(1) of the Ordinance.

     A department spokesman stressed that operating or managing an unlicensed guesthouse is a criminal offence and will lead to a criminal record. Upon conviction, the offender is liable to a maximum fine of $200,000 and two years’ imprisonment.

     The spokesman appealed to anyone with information about suspected unlicensed guesthouses to report it to the OLA through the hotline (Tel: 2881 7498), by email (hadlaenq@had.gov.hk), by fax (2504 5805) using the report form downloaded from the OLA website (www.hadla.gov.hk), or through the mobile application “Hong Kong Licensed Hotels and Guesthouses”. read more

     The Financial Secretary, Mr Paul Chan, will set off tomorrow night (May 30) for Dublin, Ireland.        During his stay, he will deliver a keynote speech at a seminar co-organised by Invest Hong Kong … read more