Tag Archives: China

     The Shenzhen-Hong Kong Financial Co-operation Committee (Committee) was established and convened its first meeting in Hong Kong today (June 13) under the co-chairmanship of the Secretary for Financial Services and the Treasury, Mr Christopher Hui, and the Vice-Mayor of the Shenzhen Municipal People’s Government and Director General of the Office of the Financial Affairs Committee of the CPC Shenzhen Municipal Committee, Mr Luo Huanghao.
 
     At the inauguration ceremony, Mr Hui said that the Committee gathered official members from the Central Authorities, Shenzhen and Hong Kong, as well as leaders of the financial industry in both places, as non-official members. It brought together the Government, the community and business sectors to provide insights and suggestions on Shenzhen-Hong Kong financial co-operation and the development of financial infrastructure of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Mr Hui said he looked forward to the continuous strengthening of financial co-operation between Shenzhen and Hong Kong, leveraging the Committee as an important mechanism and platform for communication, liaison, interaction, exchange and collaboration between the financial sectors of both places, thereby fostering mutual access between the financial markets of the two places and providing a joint contribution to building the financial strength of the country.

     Mr Luo said that Shenzhen and Hong Kong were closely connected with each other in terms of geographical proximity and cultural ties, with active economic exchanges and huge potential for co-operation. The establishment of the Committee will bolster the financial co-operation between Shenzhen and Hong Kong to a higher level, a higher quality and a wider range of areas.
 
     The Financial Services and the Treasury Bureau and the Shenzhen Municipal Financial Regulatory Bureau signed a Letter of Intent on Shenzhen-Hong Kong Financial Co-operation Committee, and agreed to conduct meetings regularly to strengthen financial co-operation between Shenzhen and Hong Kong.
 
     At the meeting today, the Committee discussed the latest developments of the financial markets and financial co-operation initiatives of Shenzhen and Hong Kong. It also explored new suggestions on further enhancing the development of a collaborative market and enabling the movement of financial talent.
 
     “The Chief Executive’s 2023 Policy Address” proposed to deepen financial co-operation in the GBA, including establishing the Shenzhen-Hong Kong Financial Co-operation Committee with Shenzhen to provide advice and suggestions on bolstering mutual access between the financial markets of the two places, co-operation on financial technologies and green finance, and the exchange of financial talent. The membership of the Committee (Chinese only) is at the Annex.
 

        

     The Home Affairs Department is opening 19 community halls/community centres as temporary heat shelters today (June 13).
 
     The temporary heat shelters will remain open for people to take refuge from the heat when the Very Hot Weather Warning is in force. From 10.30pm to 8am the next day, the temporary heat shelters will also provide bedding and a sleeping place for people in need. The shelters are manned by duty attendants.
 
     For further information, please call the department’s hotline before midnight on 2572 8427.
 
     The heat shelters are located at:
 
Hong Kong Island:
———————
 
Central and Western –
Sai Ying Pun Community Complex Community Hall
3/F, Sai Ying Pun Community Complex
2 High Street, Sai Ying Pun
 
Eastern –
Causeway Bay Community Centre
3/F, 7 Fook Yum Road, Causeway Bay
 
Southern –
Lei Tung Community Hall
Lei Tung Estate, Ap Lei Chau
 
Wan Chai –
Wan Chai Activities Centre
LG/F, Wan Chai Market, 258 Queen’s Road East, Wan Chai
 
Kowloon Districts:
——————
 
Kowloon City –
Hung Hom Community Hall
1/F, Kowloon City Government Offices
42 Bailey Street, Hung Hom
 
Kwun Tong –
Lam Tin (West) Estate Community Centre
71 Kai Tin Road, Lam Tin
 
Sham Shui Po –
Shek Kip Mei Community Hall
G/F, Block 42, Shek Kip Mei Estate, Sham Shui Po
 
Wong Tai Sin –
Tsz Wan Shan (South) Estate Community Centre
45 Wan Wah Street, Tsz Wan Shan
 
Yau Tsim Mong –
Henry G Leong Yaumatei Community Centre
60 Public Square Street, Yau Ma Tei
 
New Territories Districts:
————————–
 
Islands –
Tung Chung Community Hall
G/F, Tung Chung Municipal Services Building, 39 Man Tung Road, Tung Chung
 
Kwai Tsing –
Kwai Shing Community Hall
Podium, Block 6, Kwai Shing West Estate, Kwai Chung
 
North –
Cheung Wah Community Hall
Cheung Wah Estate, Fanling
 
Sai Kung –
Hang Hau Community Hall
G/F, Sai Kung Tseung Kwan O Government Complex, 38 Pui Shing Road, Hang Hau, Tseung Kwan O
 
Sha Tin –
Lung Hang Estate Community Centre
Lung Hang Estate, Sha Tin
 
Tai Po –
Tai Po Community Centre
2 Heung Sze Wui Street, Tai Po
 
Tsuen Wan –
Lei Muk Shue Community Hall
G/F, Hong Shue House, Lei Muk Shue Estate, Tsuen Wan
 
Tuen Mun –
Butterfly Bay Community Centre
Butterfly Estate (near Tip Sum House), Tuen Mun
 
Yuen Long –
Long Ping Community Hall
Long Ping Estate, Yuen Long
 
Yuen Long –
Tin Yiu Community Centre
Tin Yiu Estate, Tin Shui Wai
 
     In addition to the above heat shelters, a number of community halls/community centres can also be used for taking refuge from the heat during their operating hours. For their address details, please browse the following document: www.had.gov.hk/file_manager/en/documents/public_services/emergency_services/List_CH_CC_Day_E.pdf. read more

     The total gross value of construction works (GVCW) performed by main contractors in the first quarter of 2024 increased by 8.7% in nominal terms over a year earlier to $68.7 billion, according to the provisional results of the Quarterly Survey of Construction Output released today (June 13) by the Census and Statistics Department (C&SD).
 
     After discounting the effect of price changes, the provisional results showed that the total GVCW performed by main contractors increased by 8.4% in real terms over the same period. GVCW in real terms is derived by deflating the corresponding nominal value with an appropriate price index to the price level in the base period of 2000.
 
     Analysed by type of construction works, the GVCW performed at private sector sites totalled $21.8 billion in the first quarter of 2024, up by 20.8% in nominal terms over a year earlier. In real terms, it increased by 18.3%. The GVCW performed at public sector sites increased by 9.5% in nominal terms over a year earlier to $25.5 billion in the first quarter of 2024. In real terms, it increased by 7.8%.
 
     The GVCW performed by main contractors at locations other than construction sites amounted to $21.4 billion in the first quarter of 2024, down by 2.2% in nominal terms compared with a year earlier. In real terms, it decreased slightly by 0.8%. Construction works at locations other than construction sites included minor new construction activities and decoration, repair and maintenance for buildings; and electrical equipment installation and maintenance works at locations other than construction sites.
 
     Analysed by major end-use group, the GVCW performed at construction sites in respect of residential buildings projects amounted to $20.1 billion in the first quarter of 2024, up by 48.4% in nominal terms over a year earlier. Over the same period, the GVCW performed at construction sites in respect of transport projects up by 10.4% in nominal terms to $11.0 billion in the first quarter of 2024.
 
     On a seasonally adjusted quarter-to-quarter basis, the GVCW performed by main contractors increased by 9.2% in nominal terms and 9.1% in real terms in the first quarter of 2024 compared with the fourth quarter of 2023.
 
     Table 1 shows the provisional figures on the GVCW performed by main contractors in the first quarter of 2024. Tables 2 and 3 show the revised figures for the whole year of 2023 and the fourth quarter of 2023 respectively.
 
     Owing to the widespread sub-contracting practices in the construction industry, a construction establishment can be a main contractor for one contract and a sub-contractor for another contract at the same time. The GVCW performed by main contractors covers only those projects in which the construction establishment takes the role of a main contractor, but not projects in which it takes only the role of a sub-contractor. However, sub-contractors’ contribution to projects should have been included in the GVCW performed by main contractors for whom they worked.
 
     The classification of construction establishments follows the Hong Kong Standard Industrial Classification Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.
 
     More detailed statistics are given in the “Report on the Quarterly Survey of Construction Output”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1090002&scode=330).
 
     For enquiries about the survey results, please contact the Construction and Miscellaneous Services Statistics Section of the C&SD (Tel: 3903 6965; email: building@censtatd.gov.hk). 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 June 12 to noon today (June 13), the CFS conducted tests on the radiological levels of 142 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 58 669 samples of food imported from Japan (including 37 871 samples of aquatic and related products, seaweeds and sea salt) and 14 590 samples of local catch respectively. All the samples passed the tests. read more

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

     The Subsidised Housing Committee of the Hong Kong Housing Authority (HA) today (June 13) approved the estimated public rental housing (PRH) allocation for 2024-25 and noted the actual allocation in 2023-24.

     “For the year 2023-24, the actual allocation was 23 598 flats (i.e. the number of flats taken up by applicants before the end of 2023-24), representing 97.9 per cent of the original estimate. As individual projects undertaken by Aggressive Construction Company Limited were not completed as scheduled, the number of newly completed flats was 4 500 less than the original estimate. As a result of the Housing Department’s continuous efforts in taking enhanced measures to combat abuse of public housing resources, together with the intake of new subsidised sale flats, the number of recovered flats was about 4 100 more than the original estimate of 15 600,” a spokesman for the HA said.

     “For 2024-25, we estimated that a total of about 30 200 PRH flats, comprising about 11 100 new flats and about 19 100 recovered flats, will be available for allocation to various categories of applicants. Most of the flats (i.e. 23 300 flats (77.2 per cent)) will be allocated to PRH applicants. The annual allocation quota for non-elderly one-person applicants under the Quota and Points System (QPS) is set at 10 per cent of the total number of flats to be allocated to PRH applicants with an upper limit of 2 200 flats, and therefore the allocation quota for QPS applicants in 2024-25 is 2 200 flats,” the spokesman said.

     As regards allocation for other categories of applicants, the HA will reserve 1 200 flats for rehousing residents affected by clearance projects planned by various departments, and residents affected by other Government’s squatter clearances, emergency clearances, unauthorised rooftop structure clearances and so forth. Moreover, 300 flats will also be set aside for rehousing residents affected by the Urban Renewal Authority’s redevelopment projects scheduled for 2024-25.

      In addition, 700 flats will be reserved for allocation under the category of Compassionate Rehousing (CR). This figure is not an upper limit and the HA will follow the established policy to handle all the demands for CR as recommended by the Social Welfare Department. Any unused flats reserved under the category of CR will be allocated to PRH applicants.

      Under the category of Transfers, 3 700 flats will be used for various transfer purposes in 2024-25, among which 1 100 flats will be used for the transfer of under-occupation households so that more large flats can be recovered for easing the pressing demand of applicants with four or more household members. Moeover, as with last year, the HA will reserve a quota of around 1 000 for the Transfer Scheme for Improving the Living Environment in 2024-25. The remaining 1 600 flats will be flexibly deployed for other transfer purposes including Special Transfer, the Harmonious Families Transfer Scheme, the Full Rent Exemption Scheme for Elderly Households, Management Transfer, etc.

      For the category of Junior Civil Servants and Pensioners, as in 2023-24, the HA will reserve 1 000 flats under the Civil Service Public Housing Quota Scheme in 2024-25.

     “The HA will make projections of the supply of PRH flats that can be allocated in the coming year and how such flats may be allocated to the various categories of demands. We will closely monitor any changes in the circumstances and will maintain flexibility in the allocation of PRH flats to optimise the use of resources,” the spokesman added.

     (Please refer to the attached table on the breakdown of estimated allocations for various categories in 2024-25.) read more