Tag Archives: China

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 (October 17) that a tender of three-year Government Bonds (Bonds) through the re-opening of existing 10-year Government Bond issue 10GB2601 under the Institutional Bond Issuance Programme will be held on October 25, 2023 (Wednesday), for settlement on October 26, 2023 (Thursday).
      
     An additional amount of HK$5.5 billion of the outstanding 10-year Bonds (issue no. 10GB2601) will be on offer. The Bonds will mature on January 21, 2026 and will carry interest at the rate of 1.68 per cent per annum payable semi-annually in arrears. The Indicative Pricings of the Bonds on October 17, 2023 are 94.64 with an annualised yield of 4.232 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 10-year Government Bonds under the Institutional Bond Issuance Programme:
 

Issue Number	:	10GB2601 (Re-open)
Stock Code	:	4230 (HKGB 1.68 2601)
Tender Date and Time	:	October 25, 2023 (Wednesday) 9.30am to 10.30am
Issue and Settlement Date for Tender Amount	:	October 26, 2023 (Thursday)
Amount on Offer	:	HK$5.5 billion
Maturity	:	Three years
Remaining Maturity	:	Approximately 2.24 years
Maturity Date	:	January 21, 2026
Interest Rate	:	1.68 per cent p.a. payable semi-annually in arrears
Interest Payment Dates	:	January 22, 2024 July 22, 2024 January 21, 2025 July 21, 2025 January 21, 2026
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 (October 26, 2023) for the tender amount is HK$223.23 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 10GB2601 (Stock code: 4230) 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
3.232	96.73	4.232	94.70
3.282	96.63	4.282	94.60
3.332	96.53	4.332	94.50
3.382	96.42	4.382	94.40
3.432	96.32	4.432	94.30
3.482	96.22	4.482	94.20
3.532	96.12	4.532	94.10
3.582	96.01	4.582	94.00
3.632	95.91	4.632	93.91
3.682	95.81	4.682	93.81
3.732	95.71	4.732	93.71
3.782	95.61	4.782	93.61
3.832	95.51	4.832	93.51
3.882	95.40	4.882	93.41
3.932	95.30	4.932	93.32
3.982	95.20	4.982	93.22
4.032	95.10	5.032	93.12
4.082	95.00	5.082	93.02
4.132	94.90	5.132	92.93
4.182	94.80	5.182	92.83
4.232	94.70	5.232	92.73

 
* 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

     Following is the speech (English translation) by the Chief Executive, Mr John Lee, at the CEO conference of the third Belt and Road Forum for International Cooperation in Beijing today (October 17):
 
The Honourable Vice Premier He Lifeng (Vice Premier of the State Council), the Honourable Mr Gao Yunlong (President of All-China Federation of Industry and Commerce), the Honourable Mr Zhang Yuzhuo (Chairman of the State-owned Assets Supervision and Administration Commission of the State Council), the Honourable Mr Ren Hongbin (Chairman of the China Council for the Promotion of International Trade),
 
     I am greatly honoured to be here in Beijing to attend the third Belt and Road Forum for International Cooperation, and introduce to you at today’s CEO Conference the pivotal role of Hong Kong, as a special administrative region of the People’s Republic of China, in the Belt and Road (B&R) Initiative.
 
     The B&R Initiative was proposed by President Xi Jinping 10 years ago. Since then, under President Xi’s personal planning, deployment and promotion, this significant initiative has been advancing international connectivity and win-win co-operation. It has become a key platform for building a global community with a shared future.
 
     Under the “one country, two systems” principle, Hong Kong has the distinctive advantages of enjoying strong national support and being closely connected to the world. Hong Kong is an international financial centre and the world’s largest offshore Renminbi (RMB) business centre. Hong Kong enjoys a free flow of capital and is equipped with internationally aligned regulatory regimes. We are the only common law jurisdiction in the country. All along, Hong Kong has been a popular destination for entrepreneurs from around the globe who come to do business in Asia, and acts as an important channel and gateway in the region.
 
     As Asia’s world city, Hong Kong serves as a key link for the B&R Initiative. We are committed to providing enterprises and economies in the B&R regions with high-quality professional services they need in such areas as project financing, risk management, international legal services and dispute resolution, construction works, shipping and logistics, innovation and technology and so on. Enterprises participating in B&R projects can count on our strong professional support to make the most out of the development.
 
     The number of regional headquarters set up in Hong Kong by countries participating in the B&R Initiative between 2017 and 2022 has doubled from 83 to 168, representing a growth of more than 15 per cent per annum on average. Hong Kong’s direct investment in B&R countries has also increased by 70 per cent from US$70 billion to US$120 billion in 2021, featuring an average annual growth of nearly 15 per cent. The total remittance of RMB for cross-border trade settlement has more than doubled from RMB3.9 trillion to RMB9.3 trillion, registering a growth of over 18 per cent per annum on average. These figures eminently reflect the immense growth potential of B&R countries, as well as the role of Hong Kong as a participant, facilitator and beneficiary of the B&R Initiative.
 
     This year, I have led high-level delegations to respectively visit the Middle East and countries of the Association of Southeast Asian Nations to promote Hong Kong’s strengths in contributing to the B&R Initiative. The visits have seen fruitful outcomes. Our delegates have entered into some 50 agreements covering a wide spectrum of co-operation with local enterprises and organisations.
 
     Last month, the Hong Kong Special Administrative Region (HKSAR) Government organised the eighth Belt and Road Summit in Hong Kong, with participation of some 6 000 government officials and business leaders from more than 70 B&R countries and regions. Over 100 delegations and leaders from more than 35 state-owned enterprises from the Mainland joined the event, a record high over past summits. With the support of our country, this annual event of Hong Kong has become a premier business and investment platform for us to contribute to promoting co-operation under the B&R Initiative.
 
     I cordially invite all entrepreneurs here to come to Hong Kong to set up your B&R offices. Let us join hands to uncover the many opportunities and drive more high-standard, sustainable and high-quality development projects that are beneficial to people’s livelihood to achieve development and prosperity for all.
 
     Looking forward, the HKSAR Government will continue to proactively integrate into the overall development of the country, and live out the Silk Road’s spirit of “win-win co-operation” by working hand in hand with B&R countries and enterprises to pursue development and share the fruits of success.
 
     Thank you. read more

     The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (October 17) that in view of notifications from the World Organisation for Animal Health (WOAH) about outbreaks of highly pathogenic H… read more

     The Transport Department (TD) today (October 17) reminded members of the public that temporary road closures will be implemented in phases at various locations in New Territories South, Kowloon West and Tsim Sha Tsui from 1am on Sunday (October 22) to facilitate the holding of the Hong Kong Cyclothon.

     The 50 kilometre and 30km rides will start at Salisbury Road near Empire Centre in East Tsim Sha Tsui, while the finishing point will be located at Salisbury Road opposite to the Hong Kong Cultural Centre. The 50km ride will be routed via Kowloon Park Drive, Austin Road West, Nga Cheung Road Flyover, Jordan Road, Lin Cheung Road, West Kowloon Highway, the Cheung Tsing Tunnel, the Tsing Ma Bridge, the Ting Kau Bridge, turn back and be routed via the Nam Wan Tunnel, the Stonecutters Bridge to the Eagle’s Nest Tunnel, and then return to the finishing point via the West Kowloon Highway along the same outbound route. The race route of the 30km ride will be similar to the 50km ride, but will not be routed via the Tsing Ma Bridge, the Ting Kau Bridge and the Eagle’s Nest Tunnel. Subject to the race arrangements and progress, the above road sections along the race routes in New Territories South and Kowloon West will be temporarily closed until around 11am on that day.

     Roads in the vicinity of the Urban Council Centenary Garden in East Tsim Sha Tsui, including Salisbury Road, Mody Road, Mody Lane and Science Museum Road, as well as Hung Hom Bypass and Hung Hom Road, will also be temporarily closed until around 5.45pm for the holding of other events and races of the Cyclothon including the UCI Class 1.1 Road Race.

     During the road closure period, 144 bus routes (including 62 KMB routes, 29 Citybus routes, 28 cross harbour bus routes, 24 Long Win Bus routes and one New Lantao Bus route) and 15 green minibus routes will be affected and subject to diversion, truncation, suspension or relocation of stops in phases until the reopening of roads. The Star Ferry Pier Public Transport Interchange and the China Hong Kong City Public Transport Interchange will be suspended from 2.30am until around 11am; and the Tsim Sha Tsui East (Mody Road) Bus Terminus will be suspended from 11am until around 5.45pm on Sunday. Roadside parking spaces within the closed roads will also be suspended.

     The above road closure arrangements will not affect vehicles from Hong Kong Island/Kowloon/New Territories East heading for the airport and Lantau Island. Both bounds of the Western Harbour Crossing will also remain in normal operation. Due to the closure of the Ting Kau Bridge (Kowloon bound), motorists travelling from New Territories West to the airport and Lantau Island via Tuen Mun Road or the Tai Lam Tunnel will be diverted via Tsuen Wan Road, Tsuen Tsing Interchange, Tsing Tsuen Road, the Tsing Tsuen Bridge, Tam Kon Shan Interchange, Tsing Yi North Coastal Road heading for the Tsing Ma Bridge.

     The TD appeals to the public to pay attention to the temporary road closures and public transport service adjustment arrangements on that day. Due to extensive road closures, the TD anticipates that Kowloon-bound traffic on the Lantau Link, Tsim Sha Tsui bound on Ferry Street, sections of Canton Road south of Jordan Road and in the vicinity of Harbour City will be more significantly congested compared with normal Sundays. Motorists are advised to avoid driving to the affected areas, and in case of traffic congestion, motorists should exercise patience, drive with care and follow the instructions of the Police on site.

     Members of the public should plan their journeys early to avoid unexpected delays, and use public transport services (particularly railway services) as far as possible, and pay attention to the arrangements of temporary route diversions and relocations of stops. Those heading to the West Kowloon Cultural District, the Kowloon Station for the Airport Express Line or boundary control points including Hong Kong West Kowloon Station of the Guangzhou-Shenzhen-Hong Kong Express Rail Link and the China Ferry Terminal (China Hong Kong City) are advised to plan their journey early to avoid any delay caused by road closures and traffic diversions. They may browse the TD’s website (www.td.gov.hk) or mobile application “HKeMobility” for information about the special traffic and transport information, or they may also browse relevant public transport operators’ websites or mobile applications for details of service changes.

     The TD and the Police will closely monitor the traffic situation. Other temporary road and traffic control measures, including adjusting the extent of road closures, and alteration or suspension of public transport services may be implemented by the Police at short notice depending on the actual traffic conditions. Members of the public are advised to stay alert to the latest traffic news through the media. read more

     The effective exchange rate index for the Hong Kong dollar on Tuesday, October 17, 2023 is 106.6 (up 0.1 against yesterday’s index). read more