Tag Archives: China

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EPD and ECC launch third “Plastic-Free Takeaway, Use Reusable Tableware” campaign and “Plastic-Free Rewards” mobile application (with photos)

     The Environmental Protection Department (EPD) and the Environmental Campaign Committee (ECC) officially kicked off the third “Plastic-Free Takeaway, Use Reusable Tableware” campaign today (November 17). The campaign, which lasts for more than five months, allows the food and beverage (F&B) industry and the public to get prepared for the commencement of the first-phase regulation of disposable plastic tableware on April 22 next year, as well as to promote and go “plastic-and-disposable-free” when ordering takeaways.
 
     The third “Plastic-Free Takeaway, Use Reusable Tableware” campaign will bring a novel experience to the public with a new image. Starting from tomorrow (November 18) to April 30 next year, customers can collect stamps and redeem rewards through the new “Plastic-Free Rewards” mobile application for each disposable-free (cutlery or container) takeaway order at more than 750 participating eateries under the campaign. One stamp will be collected for each order without obtaining a set of disposable cutlery. If the participating eatery also joins the EPD’s Bring Your Own Containers Eateries Scheme, two stamps will be collected for not getting a disposable container (food container or beverage cup). Upon collecting the designated number of stamps, customers can redeem rewards (e.g. drink, snack and discount coupon) from particular eateries or convert the stamps to GREEN$ points or GREEN$ e-coupons through the “Plastic-Free Rewards” mobile application for redeeming a set of reusable tableware or other daily necessities at all 44 Recycling Stations or Recycling Stores of the GREEN@COMMUNITY network.
 
     Speaking at the launching ceremony, the Secretary for Environment and Ecology, Mr Tse Chin-wan, said next year would be an important milestone on Hong Kong’s road to becoming “plastic-free”. The Legislative Council just passed the bill on the regulation of disposable plastic tableware and other plastic products last month, and the Government will commence the first phase of the regulation on April 22 next year (Earth Day) after six months of preparation.
 
     Mr Tse said, “Replacing disposable plastic tableware with disposable ones made of other materials (e.g. paper, soft wood and plant fibres) is not the best solution. To reduce waste at source more effectively, we should actively use reusable products. I hope that this campaign can attract more citizens to participate in it and integrate the culture of going ‘plastic-and-disposable-free’ takeaway into their daily lives, making it a part of their habits.”
 
     The first two “Plastic-Free Takeaway, Use Reusable Tableware” campaigns were held in 2018 and 2019 respectively, and received widespread support from the F&B industry and the public, saving about 2.4 million sets of disposable cutlery. The third “Plastic-Free Takeaway, Use Reusable Tableware” campaign is organised by the EPD and the ECC, co-organised by the GREEN@COMMUNITY network, and sponsored by the Environment and Conservation Fund. The launching ceremony was also attended by the Chairman of Council for Carbon Neutrality and Sustainable Development, Dr Lam Ching-choi; the Chairman of the ECC, Professor Simon Wong; the Chairman of the Environment and Conservation Fund Committee, Dr Eric Cheng; the Director of Environmental Protection, Dr Samuel Chui, and the Commissioner for Climate Change of the Environment and Ecology Bureau, Mr Wong Chuen-fai.
 
     For more information on the third “Plastic-Free Takeaway, Use Reusable Tableware” campaign, please visit the dedicated website www.plasticfreetakeaway.hk. The “Plastic-Free Rewards” mobile application can be downloaded for free from the Apple App Store, Google Play or Huawei AppGallery.

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Survey on Small and Medium-Sized Enterprises’ Credit Conditions for Third Quarter 2023

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) published today (November 17) the results of Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions for the third quarter of 2023. According to the survey, the credit conditions of SMEs faced headwinds from rising local interest rates, albeit with little signs of prevalent stress.
      
     Regarding SMEs’ perception of banks’ credit approval stance relative to six months ago, excluding respondents who answered “no idea/don’t know”, 72 per cent perceived a “similar” or “easier” credit approval stance in the third quarter of 2023, down from 78 per cent in the previous quarter (Chart 1 in the Annex). 28 per cent perceived a “more difficult” credit approval stance, up from 22 per cent in the previous quarter. That said, the proportion still remained within the normal range observed. The perception of a more difficult credit approval stance may not necessarily reflect actual difficulties faced by SMEs in obtaining bank credit as the perception could be affected by a number of factors, such as media/news reports, business conditions and opinions of relatives and friends.
      
     Amid rising local interest rates, the proportion of respondents reporting a “tighter” banks’ stance on existing credit lines surged to 34 per cent from 18 per cent in the previous quarter (Chart 2 in the Annex). In this survey, a tighter stance on existing credit lines denotes a range of possible measures or arrangements, such as reducing unused and used credit lines, raising the interest rate, imposing additional collateral requirements, or shortening loan tenor. Therefore, respondents’ indication of banks’ stance on existing credit lines may not directly reflect banks’ supply of credit to SMEs. 
      
     The survey also gauged the results of new credit applications from SMEs. 3 per cent of the respondents reported that they had applied for new bank credit during the third quarter of 2023. Among the respondents who had already known their application outcomes, 82 per cent reported fully or partially successful applications, compared with 87 per cent in the previous quarter (Chart 3 in the Annex). 18 per cent reported unsuccessful applications, compared with 13 per cent in the previous quarter.
      
     Owing to small sample sizes of SMEs with existing credit lines (17 per cent of surveyed SMEs) and with new credit applications (3 per cent of surveyed SMEs) during the quarter, the results could be prone to large fluctuations, and hence should be interpreted with care.

About Survey on Small and Medium-Sized Enterprises (SMEs)’ Credit Conditions
      
     In light of the importance of SMEs to the Hong Kong economy and concerns about potential funding difficulties facing SMEs over the past few years, the HKMA has appointed the Hong Kong Productivity Council (HKPC) to carry out this survey, starting from the third quarter of 2016. This survey is conducted on a quarterly basis, covering about 2,500 SMEs from different economic sectors each time. The results of this survey can help monitor the development of SMEs’ access to bank credit from a demand-side perspective.
      
     The results of this survey should be interpreted with caution. Similar to other opinion surveys, views collected in this survey may be affected by changes in sentiment due to idiosyncratic events that occurred over the survey period, which can make the results prone to fluctuations. Readers are advised to interpret the results together with other economic and financial information. In addition, views collected are limited to the expected direction of inter-quarter changes (e.g. “tighter”, “no change” or “easier”) without providing information about the magnitude of these changes.
      
     Detailed tables and technical information of this survey are published on the website of the HKPC (smecc.hkpc.org). read more

Speech by SITI at Hong Kong Laureate Forum 2023 Co-organised Programme with Cyberport: Knowledge Transfer, from R&D to application (English only) (with photos)

     Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the Hong Kong Laureate Forum 2023 Co-organised Programme with Cyberport: Knowledge Transfer, from R&D to application today (November 17):

Professor Tong (Chairman of the Council of the Hong Kong Laureate Forum, Professor Timothy Tong), Simon (Chairman of the Board of Directors of the Hong Kong Cyberport Management Company Limited, Mr Simon Chan), Peter (Chief Executive Officer of the Hong Kong Cyberport Management Company Limited, Mr Peter Yan), honourable Shaw laureates, young scientists, distinguished guests, ladies and gentlemen,

     Good afternoon. As the largest innovative digital community in Hong Kong, there is no more a better place than Cyberport to explore the topic of “Knowledge Transfer, from R&D to application”. It gives me great pleasure to be here this afternoon to share my thoughts on Hong Kong’s journey towards becoming an international innovation and technology (I&T) centre.

     Hong Kong has been supporting scientific research through our universities for decades. We have world-class academics and talent, strong R&D (research and development) capabilities, and our achievements are widely recognised globally. However, we also acknowledge that in the past, for various reasons, there is insufficient momentum to realise the transformation of R&D outcomes in Hong Kong, making it difficult to unleash full potential. To strengthen this weakest link, the current term of Government has put a prime focus on promoting the transformation and commercialisation of R&D outcomes when formulating I&T policies.

     Last December, we launched the Hong Kong I&T Development Blueprint, establishing a clear development path and formulating systematic strategic planning for Hong Kong’s I&T development in the next five to 10 years, to chart Hong Kong in moving full steam towards the vision of an international I&T centre. One of the key directions is to enhance the I&T ecosystem and promote “new industrailisation” in Hong Kong by establishing a healthy cycle with positive interactions between the upstream, midstream and downstream sectors.

     To achieve this, we have officially launched the Research, Academic and Industry Sectors One-plus Scheme last month, which aims to promote the transformation and commercialisation of excellent deep-tech R&D outcomes from our local universities. It is expected that the results of the first batch of applications will be announced in the first quarter next year. Last month in the Policy Address, we announced setting up a New Industrialisation Acceleration Scheme of HK$10 billion to promote the downstream development of new industrialisation by providing funding support for enterprises in the fields of life and health technologies, AI (artificial intelligence) and data science, advanced manufacturing and new energy technologies.

     Besides, we will continue to invest in world-class I&T infrastructure. This comprises many of the places you have already visited, such as the Science Park and InnoHK research clusters. For Cyberport, where we currently are at, we will support the establishment of an AI supercomputing centre in phases, with a view to supporting the huge demand for computing power from R&D. In addition, other important intangible I&T infrastructures, such as the city’s digital connectivity and cybersecurity capabilities, will also be strengthened. Our aim is to create an I&T ecosystem that will sustain scientific and technological innovation. This, in turn, will push forward societal progress and spur economic development. 

     And of course, talent, like all of you, is also crucial in knowledge and technology transfer. I trust that the Chief Executive and the Chief Secretary for Administration have shared a series of talent policies and initiatives with you in the opening ceremony and breakfast gathering respectively earlier this week. For those of you who might harbour the ambition of utilising your scientific knowledge to improve the lives of humankind, there is no better place and no better time than here in Hong Kong. May I welcome you to join us in Hong Kong’s I&T journey.

     Before I close, I would like to express my gratitude to Professor Tong for leading the Hong Kong Laureate Forum Council and Committee in organising a week of exciting activities, enhancing the overall I&T culture and atmosphere in Hong Kong. I look forward to seeing you all again in the near future. Thank you.

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