Tag Archives: China

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

     The Hong Kong Monetary Authority (HKMA) released today (December 14) the key analytical accounts of the Exchange Fund at the end of November 2023.

     Foreign assets, representing the external assets of the Exchange Fund, increased during the month by HK$60.9 billion to HK$3,521.0 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$1,878.6 billion.

     Claims on the private sector in Hong Kong amounted to HK$243.3 billion.

     Foreign liabilities amounted to HK$22.6 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 International Monetary Fund’s 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 December 2023, the scheduled dates for issuing the press releases are as follows:
 

     According to the provisional results of a survey released today (December 14) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole increased by 4.4% in the th… read more

     The Action Committee Against Narcotics (ACAN) noted at its meeting today (December 14) the statistical figures of the Central Registry of Drug Abuse (CRDA) and other drug-related figures in the first three quarters of 2023. The ACAN noticed that the total number of reported drug abusers in the first three quarters of 2023 was higher than that for the first three quarters in 2022, which was during the COVID-19 pandemic. As Hong Kong has resumed normalcy in full, there would be changes in the drug situation. The ACAN will closely monitor the relevant situation, and will continue to take forward corresponding anti-drug work.
 
     Figures from the CRDA revealed that the total number of reported drug abusers in the first three quarters of 2023 increased by 5 per cent (from 4 204 to 4 416) compared with that of the same period in 2022. The number of reported young drug abusers aged under 21 declined by 12 per cent (from 599 to 527). The most common type of drugs abused in the first three quarters of 2023 was heroin, followed by cocaine (commonly known as “coke”) and then methamphetamine (commonly known as “Ice”); while the most common type of drugs abused among the reported young drug abusers aged under 21 was cocaine, followed by cannabis.
 
     The ACAN continues to express concern about the cocaine abuse situation. Just as in 2022, cocaine continued to be the most common type of psychotropic substance abused in the first three quarters of 2023. For the same period, cocaine was also the most common type of drug abused among the reported young drug abusers aged under 21, with over half of them (53 per cent) having abused cocaine. In addition, when categorising arrests for drug offences by drug types, the number of persons arrested for offences related to cocaine was also the highest.
 
     The ACAN Chairman, Dr Donald Li, said, “Cocaine is highly addictive and can cause delirium, convulsions, unconsciousness and even death. Moreover, cocaine could cost its abusers their life savings and burden them with enormous debts since they cannot get rid of the addiction to the drug. Cocaine is rampant across the globe. In view of its profound harmful effects and the increasing number of reported cocaine abusers when compared with the same period last year, we will launch a series of anti-drug education and publicity work to heighten the vigilance of members of the public, especially young people, against cocaine. I would also like to take this opportunity to remind everyone not to take drugs, including cocaine, cannabis and so on, when celebrating Christmas and New Year.”
 
     Dr Li added, “The global supply of cocaine has surged in recent years. To evade attention, drug traffickers adopt multifarious methods to conceal drugs in liquor bottles, life-saving appliances and frozen food, etc. Members of the public are reminded not to carry unknown items for other people. Otherwise, they are liable to serious criminal liabilities which will cause lifelong regrets.”
 
     The spokesperson for the Narcotics Division (ND) of the Security Bureau reminded that drug dealers may post recruitment advertisements on websites and social media platforms to lure citizens, especially students and young people, into carrying dangerous drugs. The ND called for members of the public not to participate in drug trafficking out of greed for monetary rewards. The spokesperson stressed that young age is not a valid mitigating factor. Anyone who has committed a drug offence is liable for serious criminal punishment. In particular, the maximum penalty for drug trafficking is life imprisonment and a fine of $5 million. The ND will display posters and banners at various boundary control points to remind members of the public not to bring any dangerous drugs into and out of Hong Kong.
   
     The website of the ND (www.nd.gov.hk) contains detailed information about drugs, including frequently asked questions about cocaine and cannabis for the public’s reference. If members of the public encounter any drug problems, they can send messages to 98 186 186 on instant messaging applications WhatsApp and WeChat, or call the 24-hour hotline 186 186 to seek information or assistance from professional social workers.
 
     The figures of the CRDA for the first three quarters of 2023 are also available on the website of the ND (www.nd.gov.hk/en/crda_main_charts_and_tables.html). read more

     A spokesman for the Buildings Department (BD) said today (December 14) that the BD has completed an investigation into the incident of the collapse of a steel segment that happened on December 14, 2022, at a construction site on Tung Yuen Street, Yau Tong, and initiated four prosecutions. The incident caused the death of one worker.

     The spokesman said that the subject steel segment was part of the temporary lateral support to facilitate the excavation works for the construction of the basement. After the basement structure was completed, the lateral support including the steel segment would then be dismantled. The investigation by the BD has revealed that adequate precautionary measures have not been provided by the relevant contractor, sub-contractors and individual persons directly concerned with the incident during dismantling of the steel segment, resulting in the collapse of the steel segment and fatal incident.

     In the light of the investigation findings and after consultation with the Department of Justice, the BD has initiated four prosecutions under section 40(2B)(a) of the Buildings Ordinance (BO) against the contractor directly concerned with the building works, and the relevant sub-contractors and individuals directly concerned with the incident involving a total of two companies and two individuals. Summonses have been issued by the Kwun Tong Magistrates’ Courts. The hearing of the case is scheduled for January 16, 2024. According to normal procedures, the prosecution information will be posted on the website of the Judiciary the day before the hearing.

     Pursuant to section 40(2B)(a) of the BO, any person directly concerned with any building works, who carries out or has carried out such works, or authorises or permits or has authorised or permitted such works to be carried out, in such manner that it causes injury to any person or damage to any property is liable on conviction to a maximum fine of $1 million and imprisonment for three years.

     The spokesman said that the BD reminded once again contractors and persons directly concerned with building works to properly supervise building works during construction in accordance with the BO and its subsidiary legislation and the Code of Practice for Site Supervision to ensure the safety of the building and the public.

     In addition, the BD refused the concerned general building contractor (i.e. Aggressive Construction Engineering Limited)’s application for renewal of registration on October 18 and its name was removed from the Register of General Building Contractors on November 16, and it cannot carry out any building works from that date onwards.

     For the subject case, the Labour Department has completed the investigation and initiated prosecution against the relevant duty holders (including the relevant contractor and subcontractors) under the Factories and Industrial Undertakings Ordinance in June 2023. The trial is adjourned to January 11, 2024.
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     The Director of Environmental Protection, Dr Samuel Chui, attended the Water and Development Congress & Exhibition (the Congress) organised by the International Water Association (IWA), and an international workshop as invited by the Research Center for Eco-Environmental Sciences (RCEES) of the Chinese Academy of Sciences (CAS) in Rwanda, Africa, on December 13 and 14.

     With the theme of water, sanitation and climate resilience – keys to a water-wise future, the Congress organised by the IWA this year presents solutions spanning water and sanitation services, the role of water in urban areas, the links between cities and basins, and the opportunities to achieve climate resilience. Over 1 000 specialists across the globe, including those from the Belt and Road (B&R) countries, attended the Congress to share knowledge about innovations in science and practice, and exchange experience in water and sanitation policy, technology, and management.

     In the Congress, Dr Chui promoted multidimensional exchanges with the specialists from different countries, and introduced the environmental water quality monitoring and management, sewage virus surveillance experience as well as the application and development of advanced technology by the Environmental Protection Department.

     In addition, to help accelerate progress towards the sustainable development goal of clean drinking water and sanitation facilities in developing countries, Dr Chui shared Hong Kong’s successful experience as a coastal city in using seawater toilet flushing, sewage treatment and submarine outfall discharges, and the Triple Water System installed at Hong Kong International Airport, which is the world’s leading water-saving and energy-saving system adopting seawater for toilet flushing and air conditioning, as well as recycling and reuse of grey water. Seawater toilet flushing not only can save up to 20 to 30 per cent of precious fresh water, but also consumes 50 per cent less energy than supplying fresh water, 10 times less than wastewater reclamation as well as 100 times less than seawater desalination. Seawater can also be used for central air-conditioning systems at the same time, which reduces electricity consumption by 30 per cent as compared with ordinary air-conditioning systems. It is a valuable reference and direction for many developing countries along the B&R. In the workshop, many participants expressed their appreciation for Hong Kong’s methods such as seawater toilet flushing and air conditioning, and expressed their wish to strengthen collaboration with Hong Kong to improve their drainage facilities with reference to Hong Kong’s successful experience.

     Dr Chui said that the Hong Kong Special Administrative Region Government has been participating proactively to connect with the B&R regions, and will continue to leverage Hong Kong’s experience and advantage in environmental protection, environmental water quality and water resources management, to assist B&R regions in jointly achieving sustainable development.