Tag Archives: China

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) announced today (July 18) the composite interest rate at the end of June 2024 (Note 1). 

     The composite interest rate, which is a measure of the average cost of funds of banks, increased by 1 basis point to 2.62 per cent at the end of June 2024, from 2.61 per cent at the end of May 2024 (see Chart 1 in the Annex). The increase in composite interest rate mainly reflected the increase in the weighted funding cost for deposits during the month (see Chart 2 in the Annex) (Note 2). 

     The historical data of the composite interest rate from the end of the fourth quarter of 2003 to the end of June 2024 are available in the Monthly Statistical Bulletin on the HKMA website (www.hkma.gov.hk).

Note 1: The composite interest rate is a weighted average interest rate of all Hong Kong dollar interest-rate-sensitive liabilities, which include deposits from customers, amounts due to banks, negotiable certificates of deposit and other debt instruments, and all other liabilities that do not involve any formal payment of interest but the values of which are sensitive to interest rate movements (such as Hong Kong dollar non-interest bearing demand deposits) on the books of banks. Data from retail banks, which account for about 90 per cent of the total customers’ deposits in the banking sector, are used in the calculation. It should be noted that the composite interest rate represents only average interest expenses. There are various other costs involved in the making of a loan, such as operating costs (e.g. staff and rental expenses), credit cost and hedging cost, which are not covered by the composite interest rate.

Note 2: Since June 2019, the composite interest rate and weighted deposit rate have been calculated based on the new local “Interest rate risk in the banking book” (IRRBB) framework. As such, these figures are not strictly comparable with those of previous months. read more

     The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (July 18) that an aquatic product from a regulated Japanese prefecture was suspected to be in breach of the relevant Food Sa… read more

     A woman who went missing in Ngau Tau Kok has been located.      Au Yin-kei, aged 66, went missing after she left her residence in Choi Ying Estate last night (July 17). Her family made a report to Police … read more

     In response to the Japanese Government’s plan to discharge nuclear-contaminated water at the Fukushima Nuclear Power Station, the Director of Food and Environmental Hygiene issued a Food Safety Order which prohibits all aquatic products, sea salt and seaweeds originating from the 10 metropolis/prefectures, namely Tokyo, Fukushima, Ibaraki, Miyagi, Chiba, Gunma, Tochigi, Niigata, Nagano and Saitama, from being imported into and supplied in Hong Kong.

     For other Japanese aquatic products, sea salt and seaweeds that are not prohibited from being imported into Hong Kong, the Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department will conduct comprehensive radiological tests to verify that the radiation levels of these products do not exceed the guideline levels before they are allowed to be supplied in the market.

     As the discharge of nuclear-contaminated water is unprecedented and will continue for 30 years or more, the Government will closely monitor and step up the testing arrangements. Should anomalies be detected, the Government does not preclude further tightening the scope of the import ban.

     From noon on July 17 to noon today (July 18), the CFS conducted tests on the radiological levels of 251 food samples imported from Japan, which were of the “aquatic and related products, seaweeds and sea salt” category. No sample was found to have exceeded the safety limit. Details can be found on the CFS’s thematic website titled “Control Measures on Foods Imported from Japan” (www.cfs.gov.hk/english/programme/programme_rafs/programme_rafs_fc_01_30_Nuclear_Event_and_Food_Safety.html).

     In parallel, the Agriculture, Fisheries and Conservation Department (AFCD) has also tested 50 samples of local catch for radiological levels. All the samples passed the tests. Details can be found on the AFCD’s website (www.afcd.gov.hk/english/fisheries/Radiological_testing/Radiological_Test.html).

     The Hong Kong Observatory (HKO) has also enhanced the environmental monitoring of the local waters. No anomaly has been detected so far. For details, please refer to the HKO’s website
(www.hko.gov.hk/en/radiation/monitoring/seawater.html).

     From August 24 to noon today, the CFS and the AFCD have conducted tests on the radiological levels of 68 843 samples of food imported from Japan (including 44 265 samples of aquatic and related products, seaweeds and sea salt) and 16 344 samples of local catch respectively. All the samples passed the tests. read more

The following is issued on behalf of the Judiciary:      The Judiciary today (July 18) announced the appointment of Mr Jenkin Suen, SC, as a Recorder of the Court of First Instance of the High Court. The appointment will take effect o… read more