Tag Archives: China

     The Environmental Protection Department (EPD) said, with the Product Eco-responsibility (Amendment) Bill 2023 passed on October 18, 2023, the enhanced Producer Responsibility Scheme on Waste Electrical and Electronic Equipment (WPRS) will be implemented on July 1 this year with the following enhancements:
 

1. Under the WPRS, the maximum storage volume of refrigerators will be increased from 500 litres to 900 litres, and the maximum washing capacity of washing machines from 10 kilograms to 15kg;
2. Stand-alone tumble dryers and dehumidifiers will be covered by the WPRS; and
3. The requirement for providing the recycling label in the distribution and sales of products under the WPRS will be removed.

 
     Currently, when a customer purchases a new product under the WPRS (namely air-conditioners, refrigerators, washing machines, televisions, computers, printers, scanners or monitors), the seller is required under the law to arrange for the customer a free door-to-door removal of the old product of the same type. Starting from July 1, customers can enjoy this same free removal service under the law when purchasing the above-mentioned four additional products under the WPRS, i.e. refrigerators and dryers with larger capacities, stand-alone tumble dryers and dehumidifiers. The Government encourages the public to make good use of this service to ensure that old electrical equipment can be properly collected and treated so as to turn waste into resources. Members of the public not making a new purchase of products under the WPRS but need to recycle old electrical equipment can also make an appointment for a free collection service of old items through the recycling hotline 2676 8888 or through WhatsApp (6081 5096).
 
     Moreover, starting from July 1, suppliers (including manufacturers and importers) distributing the above-mentioned four new types of products under the WPRS must first register with the EPD as a registered supplier before distributing such regulated products in Hong Kong. Failing to do so will result in committing an offence and the supplier will be liable to a maximum fine of $100,000 on conviction. Suppliers shall also pay the EPD the recycling levy for the regulated electrical equipment they have distributed. In order to streamline the operation, suppliers and sellers are no longer required to provide recycling labels in the distribution and sales of the regulated electronic equipment. Nevertheless, sellers are required to continue with the current practice of providing customers with a receipt showing the prescribed wording on the recycling levies for identifying the regulated electrical equipment distributed under the WPRS.
 
     An EPD spokesman said, “After gazetting the commencement notice of the legislation last November, the department started various preparatory work shortly after, including notifying electrical equipment suppliers, sellers, trade associations and other stakeholders about the details of the enhanced WPRS, and disseminating useful information through trade associations to their members. During January to June this year, the EPD sent staff to visit around 1 600 suppliers and sellers of electrical equipment to distribute relevant documents and publicity materials, and explain to them the details of the enhanced WPRS, assisting them in registering and updating company information with the EPD.”
 
     For details of the WPRS, please visit the EPD’s website at: weee.gov.hk/en/.
 
     In addition, according to the Waste Disposal Ordinance (Cap. 354), save for certain exceptions, any person who is engaged in the storage, treatment, reprocessing or recycling (but not repair) of e-waste must obtain a waste disposal licence issued by the EPD under the law. A permit issued by the EPD is also required for the import and export of e-waste. For information and application forms for waste disposal licenses and waste import and export permits, please visit the websites:
www.epd.gov.hk/epd/english/application_for_licences/guidance/facilities_e-waste.html and www.epd.gov.hk/epd/english/environmentinhk/waste/guide_ref/wdo_glass.html. read more

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

     The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Ant Bank (Hong Kong) Limited relating to phishing instant messages, which have been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.

     The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).

     Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the instant messages concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012. read more

     To tie in with the Government’s drive for developing prevention-oriented dental services with a view to achieving the goal of enhancing the overall level of citizens’ oral health through the retention of natural teeth, the Health Bureau announced today (June 25) that the services under the Elderly Dental Assistance Programme funded by the Community Care Fund (CCF) will be enhanced from July 2 with the essential requirement of having removable dentures fitting to be revised. Starting from July 2, eligible elderly persons may receive dental check-ups, scaling and polishing, tooth extractions, fillings, X-ray examinations, removal of bridges or crowns, and root canal treatment even if they are unfit for denture fitting. This enhancement aims to encourage eligible elderly persons to manage dental diseases at an early stage by opting for other preventive and curative dental services, thereby retaining their natural teeth as much as possible and avoiding tooth extractions and denture fittings.

     The new arrangements will be applicable to applications submitted on or after July 2. The eligibility criteria of the Programme remain unchanged, with target beneficiaries being low-income elderly persons who are either current recipients of the Old Age Living Allowance (OALA), or users of home care services for the elderly under the subvention of the Social Welfare Department (SWD), and fulfilling other related eligibility criteria. In addition, only eligible elderly persons aged 75 years or above who have received dental services under the Programme at least five years ago will be allowed to apply for service a second time.

     Starting from July 2, elderly persons receiving the OALA may follow the prevailing practice in making applications. They may bring the original copies of their Hong Kong identity card, documents showing their residential address and bank account documents showing the deposit of the allowance in the last three consecutive months to any of the district service units participating in the Programme. The district service units will handle applications and arrange the first dental appointment for eligible elderly persons. The 200-plus district service units can be found across the city, covering elderly centres, community centres and dental clinics which directly process applications. As for eligible elderly persons using home care services for the elderly under the SWD subvention, they can continue to make applications via their respective service teams. 
 
     Elderly persons will not be required to make any payments to the participating dentists after receiving necessary dental treatment services. The Hong Kong Dental Association (HKDA), as the implementing agent of the Programme, will disburse the subsidies direct to the dentists providing treatment services through its Project Office. 

     At present, there are more than 850 participating dentists for the Programme. The Project Office has recently held briefing sessions for participating dentists and representatives of district service units to get them familiar with the enhancement measures of the Programme and operational details of the new arrangements. The Project Office will continue to enlist more dentists to join the Programme.
      
     Copies of leaflets about the new arrangements, eligibility criteria and application procedures will be available for collection at various district service units starting from July 2. Relevant information and the list of district service units will be made available on the websites of the CCF (www.communitycarefund.hk) and the HKDA (www.hkda.org). Members of the public may call the Programme hotline (2525 8198) for enquiries. read more

     Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Bank of New York Mellon’s 240th anniversary today (June 25):
 
Hani (Head of International of Bank of New York (BNY) Mellon, Mr Hani Kablawi), Fangfang (Regional Head of APAC of BNY Mellon, Ms Fangfang Chen), Jayee (Global Head of Enterprise Execution and Chief Corporate Affairs Officer of BNY Mellon, Ms Jayee Koffey), ladies and gentlemen,

     Good morning. It is my great pleasure to be here today to celebrate the 240th anniversary of the Bank of New York　Mellon. This is truly a remarkable milestone, and on behalf of the Hong Kong Government, I extend our warmest congratulations to BNY Mellon.
 
     For 240 years, BNY Mellon has been at the forefront of the financial industry, continuously evolving and adapting to meet the changing needs of the global economy. Your impressive business performance speaks volumes about your success and impact: more than US$47 trillion in assets under custody and/or administration, and US$2.0 trillion in assets under management. It’s astounding to think that BNY Mellon touches nearly 20 per cent of the world’s investable assets.
 
     Your presence in Hong Kong, which dates back to 1958 with the establishment of a representative office, and later the Hong Kong Branch 40 years ago, has significantly contributed to our city’s status as an international financial centre. With around 200 employees here, BNY Mellon has been instrumental in providing a wide range of financial services to organisations in Hong Kong and beyond.
 
     We are particularly grateful for your innovative contributions to our financial ecosystem. You were the first tri-party agent to provide collateral services for securities settled through the Stock Connect scheme. Your launch of the US Withholding Tax Administration Service in collaboration with the HKMA (Hong Kong Monetary Authority)’s Central Moneymarkets Unit is yet another testament to your commitment to innovation and market development in Hong Kong.
 
     As we celebrate BNY Mellon’s achievements, I would like to take this opportunity to highlight the significant progress we have made in developing mutual capital market access between Hong Kong and the Mainland.
 
     Under the “one country, two systems” principle, we have been working tirelessly to deepen mutual access between our capital markets. The launch of initiatives such as Bond Connect, Swap Connect, and the inclusion of exchange-traded funds (ETFs) under Stock Connect has expanded opportunities for both Mainland and international investors.
 
     The expansion of eligible stocks under Stock Connect in March 2023 has further enriched investment choices and will attract more quality international enterprises to list in Hong Kong. The success of these initiatives is evident in the impressive trading figures we’ve seen. This year, up to April, the average daily trade values for Northbound and Southbound Trading under Stock Connect have reached RMB134 billion and HK$32 billion respectively.
 
     Looking ahead, we are excited about the series of measures announced by the China Securities Regulatory Commission in April this year to further expand mutual access. These include expanding the scope of eligible ETFs, including REITs (real estate investment trusts) under Stock Connect, and supporting the inclusion of RMB stock trading counter under Southbound trading.
 
     Furthermore, the recent enhancements to Swap Connect announced in May 2024 will expand product choices, enhance mechanism efficiency, and reduce participation costs for both domestic and foreign investors.
 
     As we move forward, the Hong Kong Government remains very committed to continuously exploring and implementing expansion and enhancement arrangements for our mutual access initiatives. We aim to introduce block trading and the issuance of Mainland government bond futures in Hong Kong, further cementing our city’s position as a comprehensive offshore RMB hub and risk management centre.
 
     To conclude, I once again congratulate BNY Mellon on this momentous anniversary. Your continued presence and innovation in Hong Kong play a critical and crucial role in our financial landscape. We look forward to many more years of collaboration and success, and I looking forward to seeing more achievements to come in the many decades here in Hong Kong. 
 
     Thank you. read more

     Police today (June 25) appealed to the public for information on a man who went missing in Kwai Chung.             Tsang Chi-man, aged 62, went missing after he left his … read more