Tag Archives: China

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Hong Kong Monetary Authority delegation visited Malaysia to strengthen bilateral financial collaboration (with photos)

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

     The Hong Kong Monetary Authority (HKMA) delegation concluded a three-day visit to Kuala Lumpur, Malaysia, on May 24 to strengthen financial collaboration between Malaysia and Hong Kong.
      
     Led by the Chief Executive of the HKMA, Mr Eddie Yue, the delegation held bilateral meeting with the Bank Negara Malaysia (BNM), focusing on strategic areas including digital finance and fintech, green and sustainable finance, payment systems, use of local currencies for cross-border trade and Islamic finance.
      
     Representatives from the HKMA and the BNM also joined the Malaysia Business Forum, organised by the Hong Kong Association of Banks. Attended by over 160 senior representatives from leading local and international banks operating in the two places, the Forum provided a platform to discuss and exchange views on financial co-operation and topics of mutual interests between Malaysia and Hong Kong.
      
     The delegation also met with key business and financial leaders in Malaysia to discuss new opportunities arising from the strengthening economic and financial ties between Malaysia and Hong Kong.
      
     Mr Yue remarked, “Hong Kong and Malaysia share a vision of promoting regional economic co-operation, fintech innovation and climate transition. As the gateway to the Mainland and a leading economy in ASEAN respectively, Hong Kong and Malaysia are well positioned to work together to drive closer partnership and sustainable growth across the entire Asia region.”
      
     This visit is part of the HKMA’s ongoing efforts to expand its global network. Following successful visits to Thailand, Saudi Arabia, and the United Arab Emirates earlier, the HKMA plans to continue its engagement with the Middle East and other Association of Southeast Asian Nations (ASEAN) countries to maintain and further strengthen Hong Kong’s status as an international financial centre.

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Hong Kong Customs alerts public to unsafe children’s loft bed (with photo)

     Hong Kong Customs today (May 27) alerted members of the public to a model of unsafe children’s loft bed which could pose a risk of entrapment and injury to its users.

     Customs earlier received information alleging that a model of suspected unsafe children’s loft bed was being supplied on the market. Customs officers immediately conducted an investigation and test-purchased the children’s loft bed concerned from an online retailer for safety tests.

     The test results revealed that the width of the gaps between some parts of the children’s loft bed rails did not meet the requirements of the relevant safety standard. Therefore, it was suspected that the children’s loft bed did not comply with the general safety requirement of the Consumer Goods Safety Ordinance (CGSO). 

     Prohibition notices banning the continued sale of that children’s loft bed have been served on the retailers and the importers concerned.

     An investigation is ongoing.

     Customs reminds members of the public to observe the following safety tips when purchasing and using children’s loft beds:

  • An examination should be carried out after assemblage to make sure that the children’s loft bed stands safely;
  • Advice and instructions for users should be read carefully before using the product;
  • Pay attention to the width of the loft bed rails to prevent children from accidentally falling or being trapped and injured; 
  • Never allow children to jump and tumble on the loft bed; and
  • Stop using the loft bed immediately if it is found to be unsafe.

     Under the CGSO, it is an offence to supply, manufacture or import into Hong Kong consumer goods unless the goods comply with the general safety requirement for consumer goods. The maximum penalty upon conviction is a fine of $100,000 and imprisonment for one year on first conviction, and $500,000 and imprisonment for two years on subsequent conviction.

     Members of the public with information relating to unsafe consumer goods may make a report via Customs’ 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or by filling in an online form (eform.cefs.gov.hk/form/ced002/).
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