Tag Archives: China

     The Transport Department (TD) today (May 30) reminded the public again that holders of toll tickets can visit the TD’s designated outlets to apply for a refund on or before June 30, otherwise no refund can be made. The details of the refund locations are as follows:
 

District	Refund location address	Operating hours
Hong Kong Island	Star Ferry Car Park, 9 Edinburgh Place, Central	24 hours
	Shau Kei Wan Car Park, 1 Po Man Street, Shau Kei Wan
Kowloon	The One Car Park, 100 Nathan Road, Tsim Sha Tsui
	Millennium City 6 Car Park, 392 Kwun Tong Road, Kwun Tong
	Sheung Fung Street Car Park, Sheung Fung Street, Wong Tai Sin
New Territories	Kwai Fong Car Park, 19 Kwai Yi Road, Kwai Chung
	Tsuen Wan Car Park, 174-208 Castle Peak Road – Tsuen Wan, Tsuen Wan
	Hilton Plaza Car Park, 3-9 Sha Tin Centre Street, Sha Tin

 
     Applicants are advised to fill in the application form (www.td.gov.hk/filemanager/en/content_5214/ops_form_182.pdf) in advance and bring along the toll tickets for refund. Applicants who apply for a refund for a large quantity of toll tickets are suggested to contact the contractor by email (info@wilsonparking.com.hk) or call 2830 3814 before visiting the designated refund outlets to ensure that they would be provided with the necessary assistance. read more

     Jointly organised by the Art Promotion Office and the Science Promotion Unit under the Leisure and Cultural Services Department (LCSD), “teamLab: Continuous” and “Science in Art” will end on June 8 (Saturday). The exhibition has been receiving an overwhelming response from the local public and tourists since its opening in March this year. Members of the public should grasp the final opportunity to visit this not-to-be-missed exhibition. Admission is free and no booking is required.
          
     The LCSD has teamed up with teamLab to curate the “teamLab: Continuous” exhibition, presenting two magnificent large-scale art installations: “Resonating Life which Continues to Stand”, which showcases hundreds of colourful luminous ovoids with continuously changing colours and sounds triggered by visitors’ interactions, and “Resonating Trees”, which makes the light of dozens of trees in the park spread, changing its colours and resonating sound tones in response to the ovoids. The exhibits span the lawns of the Tamar Park and extend to Victoria Harbour, triggering a mesmerising display of kaleidoscopic colours and soothing soundscapes through people’s participation. The luminous spectacle serves as a collaborative artwork by people and nature, and conveys the beauty of continuity that exists within the urban landscape, heightening the sense of awareness of the existence of other people in the same space and environment, and harmonising with the bustling night vistas of Victoria Harbour. The exhibition is open from 6.30pm to 11pm, and the last entry time is 10.50pm. Visitors can visit the exhibition during the opening hours without prior registration.
      
     The two interactive art installations in “Science in Art” are on display around the clock at the Central and Western District Promenade (Central Section). Created by local art group LAAB Architects, the “Harbour Cup” was inspired by table soccer. The setup is similar to the game we all know with one exception – there is no goal on either side. Players need to negotiate and decide how they want to play the game, be it competition or collaboration. An array of photovoltaics-powered LED lights was installed underneath the artwork. At night, when the ball is kicked, the movement triggers the sensors made of copper coils inside the watertight 3D-print containers, leaving a trail of light in its wake across the field. A playful analogy to Schrödinger’s Cat, the famous thought experiment in quantum mechanics, the “Schrödinger’s Bed” by artist Dylan Kwok encourages the public to think about the nature of physics. The artwork comprises nine cubic frames resembling nine daybeds which provide a resting area for the public. Three inflatable cats are lying flat while another three are phubbing upright in the six cubes. The public are invited to experiment with them with cameras.
      
     For more information, please visit the website of “Art@Harbour 2024” at www.museums.gov.hk/en/web/portal/artatharbour.html.

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The following is issued on behalf of the Hong Kong Monetary Authority:        The Ministry of Finance will issue Renminbi Sovereign Bonds through the Central Moneymarkets Unit of the Hong Kong Monetary Authority (HKMA). Please fin… read more

     Following is the speech by the Under Secretary for Financial Services and the Treasury, Mr Joseph Chan, at the US-China High-level Event on Subnational Climate Action in Berkeley, the United States, on May 29 (California time):
 
Distinguished panellists, ladies and gentlemen,
 
     Good afternoon. It’s my great pleasure to join you at this US-China High-level Event on Subnational Climate Action.  
 
     As mentioned in this morning’s Bay-to-Bay Dialogue between the California Bay Area and the Guangdong-Hong Kong-Macao Greater Bay Area, the urgency of combating climate change has never been greater, hence demand for green and sustainable finance is enormous. A report estimated that the world’s annual climate investments would reach US$9 trillion by 2030, and US$10 trillion by 2050. 
 
     Hong Kong is China’s international financial centre, and we lead on various league tables in Asia, including arranging Asian international bond issuance, insurance density, cross-border wealth management, etc. As Asia’s leading international financial centre, Hong Kong is well positioned to channel investment to the green transformation of the economy in China, Asia and beyond, playing our part as a member of the global village to combat climate change for our future generations together. 
 
     As our Financial Secretary mentioned earlier, Hong Kong has already become the largest centre for arranging green and sustainable bond issuance in Asia for consecutive years, accounting for 37 per cent of the Asia market last year. The depth of our sustainable finance is not only limited to the sell side. On the buy side, by the end of last year, there were 219 ESG (environmental, social, and governance) funds authorised by the Securities and Futures Commission in Hong Kong, with total assets under management (AUM) of US$170 billion. The number of ESG funds and the total AUM of ESG funds grew by 24 per cent and 20 per cent respectively on a year-on-year basis. In addition to our scale and growth in green finance, Hong Kong has also become a pioneer in developing new green financial products. The first Asian Green Bond Exchanged Traded Funds (ETFs) and Asia’s first Retail Certificate of Green Deposits were also issued in Hong Kong.
 
     The Hong Kong SAR (Special Administrative Region) Government has led by example by issuing close to US$25 billion equivalent in green bonds since 2019 under our Government Green Bond Programme, with different tenors ranging from one year to thirty years, with different currencies including HKD, RMB, EUR and USD, as well as with different types of offerings including institutional, retail and tokenised tranches. These issuances provide benchmark pricing for potential issuers and enrich our sustainable finance ecosystem. 
 
     Indeed, last year Hong Kong became the first government in the world that issued tokenised Government Green Bond, and we recognise the importance of combining green finance and fintech to further improve the efficiency of channeling green capital to combat climate change. We launched in March this year the “Prototype Hong Kong Green Fintech Map” to provide one-stop information on the current status of green fintech companies in Hong Kong and related services. In addition, next month we will launch the Green and Sustainable Fintech Proof of Concept Subsidy Scheme, which will provide early-stage funding support for green fintech, facilitating commercialisation and fostering the development of new green fintech initiatives. 
 
     Ladies and gentlemen, under “one country, two systems”, with free flow of capital, common law system and our simple and low tax regime, Hong Kong will continue to work closely with our friends in both bay areas to facilitate green investment from around the world to support the green projects, green products and green technologies in the two bay areas, contributing to the effort in combating climate change by our two nations, and by the world. Thank you.

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     Following is the speech by the Secretary for Transport and Logistics, Mr Lam Sai-hung, at the US-China High-Level Event on Subnational Climate Action in Berkeley, the United States, on May 29 (California time):
 
Ladies and gentlemen,
 
     I would like to share with you the efforts of the Government of the Hong Kong Special Administrative Region (HKSAR) in clean energy and low carbon innovations, in particular in the realm of green shipping.
      
     The expansion of the global economy and trade, movement of goods and people across the oceans has brought about increase in maritime traffic, which has environmental implications consequentially. Meanwhile, the idea of environmental, social and governance, or ESG in short, has been gaining momentum in the business world, including the maritime and port industry. 
      
     It is against this backdrop the HKSAR Government decides to steer the future growth of our maritime and port industry towards green shipping. As an international maritime centre enshrined in the National 14th Five-Year Plan, Hong Kong is ranked fourth in the 2023 Xinhua-Baltic International Shipping Centre Development Index Report. In addition to having one of the busiest ports globally, we are also home to the fourth largest shipping registry in the world. It follows that our efforts in promoting green shipping will not only improve our city’s environment, but also bring about positive impact to the local and international shipping community.
 
Decarbonisation in shipping
 
     In December last year, the HKSAR Government promulgated the Action Plan on Maritime and Port Development Strategy to consolidate and enhance Hong Kong’s position as an international maritime centre. The very first strategy of the Action Plan is to develop Hong Kong into a green shipping hub, with net zero-carbon emission being our eventual goal. Our key actions could be summarised into three “greens” – green port, green fleet and green expertise. 
      
     First, in terms of green port, we are studying the feasibility of providing green fuel bunkering for both local and ocean-going vessels, and are set to promulgate another action plan within this year to lay out our strategies for the development of bunkering facilities and supply chains. In parallel, we are taking forward the relevant preparatory work to facilitate the provision of liquefied natural gas bunkering. 
      
     Furthermore, the HKSAR Government is studying the installation of onshore power supply at the Kai Tak Cruise Terminal and the possibility of wider application of onshore power supply at other locations in Hong Kong.
      
     Second, to support the development of Hong Kong’s green fleet, we have set aside some US$8 million to provide incentives for Hong Kong-registered ships that attain high ratings in the Carbon Intensity Indicator of the International Maritime Organization (IMO). Once launched, which will be within a month from now, Hong Kong will be a pioneer flag administration supporting the IMO’s green shipping policy on the Carbon Intensity Indicator.
      
     Third, with a view to cultivating green expertise in shipping, we are working to formulate green shipping guidelines for our local industry, as well as line up more training for capacity building, so that our shipping industry and workers could keep abreast of the latest developments in green shipping. 
 
Conclusion
 
     Environment preservation and economic development are never competing agendas. By promoting clean energy and low carbon solutions in transport, logistics and other areas, not only will we contribute to the global fight against climate change, but will we also enhance the competitive edge of our economy and industries. Hong Kong stands ready to collaborate and exchange with our peers on the international stage at this forum and beyond. Thank you. 

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