Tag Archives: China

     Led by the Secretary for Commerce and Economic Development, Mr Algernon Yau, a business delegation of enterprises of Belt and Road countries operating in Hong Kong today (December 4) began in Shenzhen a two-day visit to the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
 
     Taking the opportunity to integrate the two important national development strategies of the Belt and Road Initiative (B&RI) and GBA development, the mission seeks to promote Hong Kong as a services hub in assisting enterprises to tap the Mainland market, riding fully on Hong Kong’s distinctive role in connecting the Mainland and the rest of the world in “going global and attracting foreign investment” for the country.
 
     The visit is the first business networking event organised by the Hong Kong Special Administrative Region (HKSAR) Government for enterprises of Belt and Road countries operating in Hong Kong. Members of the delegation include 20 representatives from 15 of these enterprises from countries including Indonesia, Malaysia, Thailand and Vietnam, covering industries such as investment, finance, tourism, construction, environmental protection, energy and infrastructure. The Commissioner for Belt and Road, Mr Nicholas Ho; the Director-General of the Office for Attracting Strategic Enterprises, Mr Philip Yung; the Director of the Hong Kong Economic and Trade Office in Guangdong, Miss Linda So; as well as representatives of the Independent Commission Against Corruption (ICAC) and Invest Hong Kong, also joined the visit.
 
     The visit is arranged under the themes of “green development” and “innovation and technology” to proactively respond to “promoting green development” and “advancing scientific and technological innovation” of the eight major steps to support the high-quality development of the B&RI, as announced by President Xi Jinping at the third Belt and Road Forum for International Cooperation, demonstrating the full support of the HKSAR Government in taking forward the eight major steps.
 
     In the morning, Mr Yau led the delegation to visit the headquarters of BYD Company Limited to learn about its latest developments in areas such as vehicles, rail transit, ternary lithium batteries and blade battery nail test experiments. The delegates also experienced first hand the intelligent rail transit system, SkyShuttle.
 
     At noon, Mr Yau hosted a welcome luncheon for the delegation. Speaking at the luncheon, he said that this year marks the 10th anniversary of the B&RI, under which Hong Kong is not only a “super connector”, but also a “super value-adder”. He added that Hong Kong has a lot to offer with its professional services sector, and enterprises would benefit a lot by utilising such world-class professional services.
 
     A sharing session moderated by Mr Ho was featured at the luncheon for in-depth exchanges with Mr Yung, Miss So, the Director of Corruption Prevention of the ICAC, Mr Bryan Chong, and a number of representatives of the enterprises on Hong Kong’s unique role and strengths in promoting the high-quality development of the B&RI, including the work of attracting strategic enterprises and promoting a clean Silk Road, to firmly take forward the eight major steps.
 
     Mr Yau and the delegation visited Tencent’s headquarters in the afternoon, and were briefed by its representative on digital transformation and financial solutions, artificial intelligence technology, as well as its services and products in the areas of social media and electronic games, and real-case applications in Southeast Asia.
 
     The delegation later met with representatives of the Belt and Road Environmental Technology Exchange and Transfer Center (Shenzhen) (B&RETTC) to learn about its work and explore collaboration opportunities. Jointly established by the Ministry of Ecology and Environment and the Shenzhen Municipal People’s Government, the B&RETTC is a service platform for the Mainland and Belt and Road countries to promote international co-operation in environmental protection. Witnessed by Mr Yau and Mr Ho, four enterprises respectively signed a Memorandum of Understanding with the B&RETTC, laying a good foundation for further co-operation in promoting green development.
 
     In the evening, Mr Yau and the delegation attended a dinner with Vice Mayor of Shenzhen Municipal People’s Government Mr Wang Shourui. Mr Yau said that with the experience of this visit and a profound foundation of collaboration with the Shenzhen Municipal People’s Government, it is hoped that more diversified enterprises from Belt and Road countries operating in Hong Kong will have the opportunity to explore business opportunities in the GBA. He also looked forward to organising more visits with fruitful outcomes in future.
 
     The delegation will conclude the visit in Shenzhen tomorrow morning (December 5), and proceed to Guangzhou in the afternoon to continue the visit.

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     The Chairman of the Hong Kong Maritime and Port Board (HKMPB) and the Secretary for Transport and Logistics, Mr Lam Sai-hung, led a delegation comprising members from the HKMPB, the Marine Department, Invest Hong Kong and the Hong Kong Trade Development Council to visit Shanghai today (December 4) for promoting Hong Kong’s maritime industry as well as its strength in high value-added maritime services. 

     Mr Lam and the delegation first met with representatives of the China Ports and Harbours Association to exchange ideas on strategies of port development in the country. Both sides also explored opportunities of collaboration and ways of strengthening ties between Hong Kong and Shanghai on port services, etc. Mr Lam and the delegation later had a dinner with representatives of the China Shipowners’ Association and financial leasing enterprises from Shanghai and Beijing, during which he introduced the advantages of Hong Kong’s maritime industry in enjoying the strong support of the motherland while being closely connected to the world. Mr Lam also extended an invitation to local shipowners and finance practitioners for establishing a presence or expanding their business in Hong Kong. 

     “The Hong Kong Special Administrative Region (HKSAR) Government is committed to promoting high value-added maritime services and facilitating the development of its industry chain, with a view to transforming Hong Kong into a leading international maritime centre. Over the past three years, we have successively implemented tax concessions and fee reduction measures for ship leasing, marine insurance, ship agency, ship management, and other related businesses so as to attract more high value-added maritime enterprises to establish their presence in Hong Kong. In order to further broaden Hong Kong’s maritime network, the HKSAR Government and Invest Hong Kong will step up efforts in promoting Hong Kong’s advantages in domestic and overseas markets,” Mr Lam said.

     Mr Lam and the delegation will participate in the Marintec China 2023 tomorrow (December 5), which is a biennial event in Shanghai. Mr Lam will also host a luncheon to exchange views with the local maritime industry.

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     The Chief Secretary for Administration, Mr Chan Kwok-ki, today (December 4) chaired the 19th meeting of the Commission on Children (CoC).

     At the meeting, members were briefed on the Government’s various measures to keep children safe from cyber threats. The Education Bureau has integrated information literacy into the school curriculum, and promotes healthy Internet use, privacy protection, as well as anti-bullying and anti-cyber-bullying, among students through teachers’ professional development and parent education. The Hong Kong Police Force prevents and combats cybercrime through close collaboration with stakeholders, proactive promotion of crime prevention, and enhancement of intelligence exchange and law enforcement. The Student Health Service of the Department of Health and the Cyber Youth Support Teams subvented by the Social Welfare Department (SWD) provide support for young people in need through early identification, intervention and follow-up as necessary. Members noted the trend of both primary and secondary school students spending more time on the Internet and electronic screen products, and discussed how to protect children from cyber traps and health risks.

     Members were updated on the SWD’s progress of implementing the various recommendations of the Committee on Review of Residential Child Care and Related Services regarding service quality, service regulation and monitoring, service planning and provision, and foster care service, as well as on the additional resources allocated by the Government. They took note that the SWD would continue to follow up the recommendations for progressive implementation. Members welcomed the further measures set out in the 2023 Policy Address, including substantially increasing the incentive payment for both foster and emergency foster care services starting April 2024 to encourage more willing individuals to become foster families, offering additional support to foster families with children having special learning or care needs, and increasing the number of residential child care service places.

     Members took note of the work progress of the Working Groups under the CoC. Two stakeholder engagement events were held under the “Walk with Kids” thematic campaign. The stakeholder engagement event under the theme of “harmony” was held in September 2023, and the one under the theme of “review and outlook” and “Let’s T.A.L.K. and Walk with Kids” Child Protection Campaign Award Presentation 2023 was held in November 2023 in collaboration with the Hong Kong Police Force and the SWD. Positive feedback was received from the participants and the expected publicity effect was achieved. Moreover, members visited Cha Kwo Ling Promenade in November 2023 to understand the innovative and inclusive features of its play facilities for children and exchanged views on how they could improve children’s physical and mental health as well as play experience.

     Prior to the meeting, Mr Chan led members to appeal to the welfare, education and health sectors, child concern groups, as well as parents at large, to lead by example and vote at the District Council (DC) election on December 10 to elect competent DC members in building a caring community, where children can grow up healthily and happily with their rights and well-being safeguarded. At the same time, he encouraged parents to guide their children to understand the election, and added that schools could also take the opportunity as part of civic education for the next generation to learn about their civic duty from an early age.

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

     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (December 4) that a tender of 15-year Government Bonds (Bonds) through the re-opening of existing 15-year Government Bond issue 15GB3801 under the Institutional Bond Issuance Programme will be held on December 13, 2023 (Wednesday), for settlement on December 14, 2023 (Thursday).
      
     An additional amount of HK$0.5 billion of the outstanding 15-year Bonds (issue no. 15GB3801) will be on offer. The Bonds will mature on January 12, 2038 and will carry interest at the rate of 3.74 per cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on December 4, 2023 are 97.65 with an annualised yield of 4.001 per cent.
      
     Under the Institutional Bond Issuance Programme, tender is open only to Recognized Dealers which are appointed as Primary Dealers. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the current published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof.
      
     Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, the Refinitiv screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3pm on the tender day.
 
HKSAR Government Institutional Bond Issuance Programme Tender Information
—————————————————————————————–
     Tender information of re-opening of 15-year Government Bonds under the Institutional Bond Issuance Programme:
 

Issue Number	:	15GB3801 (Re-open)
Stock Code	:	4258 (HKGB 3.74 3801)
Tender Date and Time	:	December 13, 2023 (Wednesday) 9.30am to 10.30am
Issue and Settlement Date for Tender Amount	:	December 14, 2023 (Thursday)
Amount on Offer	:	HK$0.5 billion
Maturity	:	15 years
Remaining Maturity	:	Approximately 14.09 years
Maturity Date	:	January 12, 2038
Interest Rate	:	3.74 per cent p.a. payable semi-annually in arrears
Interest Payment Dates	:	January 12, 2024 July 12, 2024 January 13, 2025 July 14, 2025 January 12, 2026 July 13, 2026 January 12, 2027 July 12, 2027 January 12, 2028 July 12, 2028 January 12, 2029 July 12, 2029 January 14, 2030 July 12, 2030 January 13, 2031 July 14, 2031 January 12, 2032 July 12, 2032 January 12, 2033 July 12, 2033 January 12, 2034 July 12, 2034 January 12, 2035 July 12, 2035 January 14, 2036 July 14, 2036 January 12, 2037 July 13, 2037 January 12, 2038
Method of Tender	:	Competitive tender
Tender Amount	:	Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof. Any tender applications for the Bonds must be submitted through a Primary Dealer on the current published list.   The accrued interest to be paid by successful bidders on the issue date (December 14, 2023) for the tender amount is HK$794.11 per minimum denomination of HK$50,000.   (The accrued interest to be paid for tender amount exceeding HK$50,000 may not be exactly equal to the figures calculated from the accrued interest per minimum denomination of HK$50,000 due to rounding).
Other Details	:	Please see Information Memorandum available on the Hong Kong Government Bonds website at www.hkgb.gov.hk or approach Primary Dealers.
Expected commencement date of dealing on the Stock Exchange of Hong Kong Limited	:	The tender amount is fully fungible with the existing 15GB3801 (Stock code: 4258) listed on the Stock Exchange of Hong Kong.

 
     Price/Yield Table of the Government Bonds at tender (for reference only*):
 

Yield-to-Maturity	Price	Yield-to-Maturity	Price
3.001	108.70	4.001	97.62
3.051	108.11	4.051	97.11
3.101	107.52	4.101	96.59
3.151	106.94	4.151	96.09
3.201	106.36	4.201	95.58
3.251	105.79	4.251	95.08
3.301	105.22	4.301	94.58
3.351	104.65	4.351	94.08
3.401	104.09	4.401	93.59
3.451	103.53	4.451	93.10
3.501	102.97	4.501	92.62
3.551	102.42	4.551	92.13
3.601	101.88	4.601	91.65
3.651	101.33	4.651	91.18
3.701	100.79	4.701	90.70
3.751	100.25	4.751	90.23
3.801	99.72	4.801	89.77
3.851	99.19	4.851	89.30
3.901	98.66	4.901	88.84
3.951	98.14	4.951	88.38
4.001	97.62	5.001	87.93

 
* Disclaimer
 
The information provided here is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of, the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it. The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here. read more

     Police today (December 4) appealed to the public for information on a woman who went missing in Sham Shui Po.      Jiamthong Sanom, aged 62, went missing after she left her residence at Tai Hang Tung… read more