Tag Archives: China

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 Nanyang Commercial Bank, Limited relating to fraudulent websites, 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 websites 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

     The Agriculture, Fisheries and Conservation Department (AFCD) held the opening ceremony of the Animal Management and Animal Welfare Building Complex in Kai Tak today (November 21). The Secretary for Environment and Ecology, Mr Tse Chin-wan; the Permanent Secretary for Environment and Ecology (Food), Ms Irene Young; the Director of Agriculture, Fisheries and Conservation, Mr Mickey Lai; and the Director of Architectural Services, Mr Michael Li, officiated at the ceremony.

     Speaking at the opening ceremony, Mr Tse noted that the Complex provides about 270 animal-keeping facilities to receive stray animals or animals surrendered by their owners, more than double the number of the former To Kwa Wan site. Also, more animal quarantine facilities will be provided to shorten the waiting time for people booking quarantine facilities for imported animals. With the Complex commencing operation, the AFCD will further enhance its effectiveness in protecting and promoting animal welfare, controlling local animal diseases, safeguarding public health and implementing animal management measures. 

     Mr Tse added, “The AFCD has reached a consensus with the Macao Special Administrative Region on the quarantine arrangements of imported cats and dogs. Starting from December 1, the quarantine period of cats and dogs imported from Macao will be reduced from current 120 days to 30 days, provided that they meet the requirements for rabies vaccination and rabies antibody titre testing, etc. Together with shortening the 15-month waiting period for quarantine facilities, the time required for quarantine arrangements will be significantly shortened. The new measures uphold the Government’s principles of stringently controlling rabies, while using technology to address public demands. The AFCD will announce details on November 26. I look forward to gradually extending the new arrangements to other regions in Group III, further helping pet owners to bring their cats and dogs to Hong Kong.”

     The Animal Management and Animal Welfare Building Complex has been designed with sustainable development as its goal, incorporating multiple green features. The Kowloon Animal Management Centre at the Complex was first commissioned in late July to provide dog vaccination and licensing services to the public, while divisions responsible for animal welfare and animal disease testing will also gradually relocate to the Complex.

     In addition, the AFCD will regularly organise animal welfare talks and public education activities at the Complex to promote animal welfare to the public. For details, please visit www.pets.gov.hk.

              

     The Census and Statistics Department (C&SD) released today (November 21) the Consumer Price Index (CPI) figures for October 2024. According to the Composite CPI, overall consumer prices rose by 1.4% in October 2024 over the same month a year earlier, smaller than the corresponding increase (2.2%) in September 2024. The smaller increase in October 2024 was mainly due to the dissipation in this month of the low base effect arising from the rates concession and the waiver of the extra public housing rent payable in the third quarter of 2023 (i.e. from July to September). Netting out the effects of all Government’s one-off relief measures, the year-on-year rate of increase in the Composite CPI (i.e. the underlying inflation rate) in October 2024 was 1.2%, larger than that in September 2024 (0.9%). The larger increase in October 2024 was mainly due to the upward adjustment in public housing rentals. 

     On a seasonally adjusted basis, the average monthly rate of increase in the Composite CPI for the 3-month period ending October 2024 was 0.1%, and that for the 3-month period ending September 2024 was 0.4%. Netting out the effects of all Government’s one-off relief measures, the corresponding rates of increase were 0.2% and 0.1%.   

     Analysed by sub-index, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 1.6%, 1.3% and 1.2% respectively in October 2024, as compared to 2.9%, 2.0% and 1.6% respectively in September 2024. Netting out the effects of all Government’s one-off relief measures, the year-on-year rates of increase in the CPI(A), CPI(B) and CPI(C) were 1.5%, 1.1% and 1.1% respectively in October 2024, as compared to 0.9%, 0.9% and 1.0% respectively in September 2024.   

     On a seasonally adjusted basis, for the 3-month period ending October 2024, the average monthly rates of increase in the CPI(A), CPI(B) and CPI(C) were all 0.1%. The corresponding rates of increase for the 3-month period ending September 2024 were 0.5%, 0.4% and 0.3% respectively. Netting out the effects of all Government’s one-off relief measures, the average monthly rates of increase in the seasonally adjusted CPI(A), CPI(B) and CPI(C) for the 3-month period ending October 2024 were 0.2%, 0.1% and 0.1% respectively, and the corresponding rates of increase for the 3-month period ending September 2024 were all 0.1%.   

     Amongst the various components of the Composite CPI, year-on-year increases in prices were recorded in October 2024 for alcoholic drinks and tobacco (21.8%), electricity, gas and water (8.5%), miscellaneous services (1.9%), meals out and takeaway food (1.7%), miscellaneous goods (1.6%), transport (1.6%), and housing (1.0%).   

     On the other hand, year-on-year decreases in the components of the Composite CPI were recorded in October 2024 for clothing and footwear (-1.4%), durable goods (-0.7%), and basic food (-0.5%).   

     Taking the first 10 months of 2024 together, the Composite CPI rose by 1.8% over a year earlier. The respective increases in the CPI(A), CPI(B) and CPI(C) were 2.2%, 1.7% and 1.6% respectively. The corresponding increases after netting out the effects of all Government’s one-off relief measures were 1.0%, 0.9%, 1.1% and 1.2% respectively.   

     For the 3 months ending October 2024, the Composite CPI rose by 2.0% over a year earlier, while the CPI(A), CPI(B) and CPI(C) rose by 2.6%, 1.8% and 1.6% respectively. The corresponding increases after netting out the effects of all Government’s one-off relief measures were 1.1%, 1.2%, 1.1% and 1.1% respectively.   

     For the 12 months ending October 2024, the Composite CPI was on average 1.9% higher than that in the preceding 12-month period. The respective increases in the CPI(A), CPI(B) and CPI(C) were 2.3%, 1.8% and 1.7% respectively. The corresponding increases after netting out the effects of all Government’s one-off relief measures were 1.1%, 1.0%, 1.1% and 1.3% respectively. 

Commentary

     A Government spokesman said that underlying consumer price inflation stayed modest in October. Food prices continued to record mild year-on-year increases, while the rate of decline of prices of energy-related items narrowed further. Price pressures on other major components remained broadly in check.

     Looking ahead, overall inflation should stay mild in the near term. Domestic cost may see some mild upward pressures as the Hong Kong economy continues to grow. External price pressures should ease further, though uncertainties from the external environment remain. The Government will continue to monitor the situation.

Further information

     The CPIs and year-on-year rates of change at section level for October 2024 are shown in Table 1. The time series on the year-on-year rates of change in the CPIs before and after netting out the effects of all Government’s one-off relief measures are shown in Table 2. For discerning the latest trend in consumer prices, it is also useful to look at the changes in the seasonally adjusted CPIs. The time series on the average monthly rates of change during the latest 3 months for the seasonally adjusted CPIs are shown in Table 3. The rates of change in the original and the seasonally adjusted Composite CPI and the underlying inflation rate are presented graphically in Chart 1.

     More detailed statistics are given in the “Monthly Report on the Consumer Price Index”. Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1060001&scode=270).

     For enquiries about the CPIs, please contact the Consumer Price Index Section of the C&SD (Tel: 3903 7374 or email: cpi@censtatd.gov.hk).
  read more

     The effective exchange rate index for the Hong Kong dollar on Thursday, November 21, 2024 is 106.4 (up 0.1 against yesterday’s index). 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 November 20 to noon today (November 21), the CFS conducted tests on the radiological levels of 121 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, 2023, to noon today, the CFS and the AFCD have conducted tests on the radiological levels of 101 419 samples of food imported from Japan (including 65 096 samples of aquatic and related products, seaweeds and sea salt) and 22 662 samples of local catch respectively. All the samples passed the tests. read more