A spokesman for the Food and Environmental Hygiene Department (FEHD) said today (May 3) that, with summer approaching and the ensuing environmental hygiene nuisances caused by dripping air conditioners, the FEHD has stepped up publi… read more
The Chief Secretary for Administration, Mr Chan Kwok-ki, today (May 3) chaired the second meeting of the second-term Partners’ Board under the Strive and Rise Programme and the sixth meeting of the fifth-term Commission on Poverty respectively to discuss the evaluation findings of the first round of the Strive and Rise Programme.
The Government earlier commissioned a research team led by the Head of the Department of Applied Social Sciences and Co-Director of the Policy Research Centre for Innovation and Technology of The Hong Kong Polytechnic University (PolyU), Professor Eric Chui, to evaluate the first round of the Strive and Rise Programme. The research team invited mentees to conduct self-assessments, and collected feedback from mentors and parents, regarding the mentees’ performances before and after the Programme. The evaluation was based on eight selected indicators, namely abilities in goal setting, abilities in financial planning, interpersonal skills and social network building, resilience, self-confidence, self-esteem, a sense of responsibility and empathy, and a sense of belonging to the community.
At their respective meetings, the Partners’ Board and the Commission on Poverty were delighted to learn that, overall, mentees considered that they had achieved improvements across all indicators, and their mentors and parents agreed that the mentees had shown improvements likewise. Mentees’ self-assessments show that they believe they have attained marked improvements in financial planning, self-confidence, interpersonal skills and social network building, and a sense of belonging to the community. Parents considered that mentees had made significant enhancements to their financial planning abilities, interpersonal skills and social network building, a sense of belonging to the community, and resilience; and mentors considered that the performance of mentees had improved noticeably across all eight indicators.
Furthermore, members were pleased to note that the enhancements for the second round of the Programme, introduced last year, dovetail with the evaluation findings and recommendations of the research team. Such enhancements include increasing the number of mentees to 4 000 with Secondary One to Four students covered; enriching the variety of group activities such as arranging more Mainland study and exchange tours; introducing mentorship groups; and establishing an Alumni Club to provide diversified social activities and internship opportunities for mentees who have successfully completed the one-year Programme. The operational details about the second round of the Programme have also been fine-tuned. Such fine-tuning includes enhancing the matching mechanism of mentors and mentees, and strengthening co-ordination between service operators and supporting organisations to enhance flexibility in arranging activities.
Mr Chan said, “The successful implementation of the first round of the Programme was attributed to the support and concerted effort of all sectors of society, including the Partners’ Board and the Commission on Poverty. We thank the PolyU research team for its evaluation and professional analysis over the past year or so to affirm the positive impact brought about by the Programme to mentees in various aspects, as well as for its various recommendations to ensure the effective implementation of the Programme over time.”
“I have every confidence that the Government will continue to forge ahead with the Partners’ Board, the Commission on Poverty and society at large. With the tripartite collaboration among the Government, the business sector and the community, the Programme will help more grassroots youngsters broaden their horizons, reinforce their self-confidence and strive for upward mobility,” he added.
The Companies Registry (CR) said today (May 3) that urgent maintenance of its e-Services Portal to block any risk of further leakage of personal data had been completed. The CR had also completed the relevant investigation.
As revealed by the findings of the investigation, apart from the related information for the respective searches, the contractor’s system design had resulted in the transmission of additional personal data to the client’s computer. Although such additional personal data would not be displayed on the search result pages, it could be obtained using a web developer tool (Note 1) on the said pages. Some personal data could also be obtained if a searcher conducted searches by a robotic search (Note 2).
According to the CR’s investigation, the same problem was also found in the electronic submission of notices relating to third parties appointed by licensed money lenders.
Investigation results showed that about 110 000 data subjects have been affected. The personal data involved includes names, full passport numbers, full identity card numbers, usual residential addresses, telephone numbers and email addresses. The CR has started notifying data subjects affected by the incident in batches with explanations and apologies.
The CR is very concerned about the risk of personal data leakage. It is consulting the Office of the Privacy Commissioner for Personal Data and the Office of the Government Chief Information Officer, with a view to conducting a comprehensive review of the incident and taking further enhancement measures for personal data protection to prevent a recurrence of similar incidents.
For enquiries, a relevant data subject may contact the CR’s Help Desk Support Service Team at 8201 8273 or email to helpdesk@e-services.cr.gov.hk.
Note 1: A web developer tool is a test tool built into the browser for use by web developers. For example, for general users using the Google Chrome browser, pressing the F12 key will open the developer tools interface.
Note 2: A robotic search refers to a search request issued by a computer programme. read more
​The Home and Youth Affairs Bureau (HYAB) announced today (May 3) the launch of the Pilot Scheme on Subsidy to Grassroots Youth for Participating in Exchange Activities Outside Hong Kong (Pilot Scheme), providing further support to grassroots youth to participate in exchange activities outside Hong Kong under the Funding Scheme for Youth Exchange in the Mainland (FSYEM) and the Funding Scheme for International Youth Exchange (FSIYE) in 2024-25.
The HYAB and the Youth Development Commission (YDC) earlier launched the FSYEM and FSIYE targeting young people aged between 12 and 35. The FSYEM provides funding for eligible non-governmental organisations (NGOs) to organise youth exchange projects to the Mainland, with a view to promoting Hong Kong youth’s awareness and understanding of the home country, strengthening exchanges with Mainland people and enhancing their sense of national identity. The FSIYE provides funding for eligible NGOs to organise international exchange projects for Hong Kong youth for them to widen their global exposure and understand the history, culture and development situations of different places in the world.
In 2024-25, the FSYEM (first round) will sponsor over 480 youth exchange projects with around 30 800 places in total, covering different provinces and municipalities on the Mainland. The FSIYE will sponsor 96 youth exchange projects with around 2 500 places in total, covering 44 overseas countries.
Depending on the location, duration, content and other different factors of the exchange projects, some of the funded NGOs may still need to charge participation fees. In order to further support young people of different backgrounds to participate in these funded exchange projects under the FSYEM and the FSIYE, the HYAB launches the Pilot Scheme to provide additional subsidies to grassroots youth with financial needs. The beneficiaries include eligible youths receiving (i) Comprehensive Social Security Assistance (CSSA); and (ii) a full grant under the School Textbook Assistance Scheme or a full grant of tuition fees under one of the means-tested schemes by the Working Family and Student Financial Assistance Agency.
Under the Pilot Scheme, the fees to be borne by eligible participants will be capped at $500 for Mainland exchange projects and $3,000 for international exchange projects, while the remainder of the fees will be fully subsidised by the Government. The organisers will be required to bear in advance the fees exceeding the aforementioned caps (excluding refundable deposits) for eligible participants. The Government will reimburse the relevant subsidies to the organisers after receiving the complete exchange project report.
The lists of funded exchange projects under the FSYEM and FSIYE have been uploaded to the YDC website. Eligible youth can contact the organisers direct for the application and detailed information about the Pilot Scheme when they apply for the exchange projects.
| Programme websites | |
| Funding Scheme for Youth Exchange in the Mainland | www.ydc.gov.hk/en/programmes/ep/ep_fundingscheme.html |
| Funding Scheme for International Youth Exchange | www.ydc.gov.hk/en/programmes/ep/ep_fundingschemeinternational.html |
The following is issued on behalf of the Hong Kong Monetary Authority:
The Monetary Authority announced today (May 3) that the countercyclical capital buffer (CCyB) ratio for Hong Kong remains unchanged at 1 per cent.
The Monetary Authority, Mr Eddie Yue, said, “Quantitative indicators suggest that overheating risks in Hong Kong are well contained. Under the framework that has taken into account the Positive Neutral CCyB introduced on April 1, 2024, a 1 per cent CCyB ratio should be maintained for Hong Kong when systemic risks are neither subdued nor elevated. It is therefore appropriate to keep the CCyB ratio at 1 per cent now and continue to monitor the situation closely.”
Further details of the decision may be found in the Announcement of the CCyB to Authorized Institutions on the HKMA website.
Background
In setting the CCyB ratio the Monetary Authority considered a series of quantitative indicators and qualitative information including an “indicative buffer guide” (which is a metric providing a guide for CCyB ratio based on the gap between the ratio of credit to GDP and its long term trend, and between the ratio of residential property prices to rentals and its long term trend). The latest indicative buffer guide calculated based on 2023Q4 data and the Positive Neutral CCyB (Note) according to the revised formula, signals a CCyB of 1 per cent. The projection based on all available data suggests that the indicative buffer guide would likely signal a CCyB of 1 per cent when all relevant 2024Q1 data become available.
Whilst the indicative buffer guide, as its name suggests, provides only a “guide” for CCyB decisions, the determination of the jurisdictional CCyB ratio for Hong Kong is not a mechanical exercise and, in addition to the indicative buffer guide, the Monetary Authority also reviewed a range of other reference indicators. Quantitative indicators suggest that overheating risks in Hong Kong are well contained. Under the framework that has taken into account the Positive Neutral CCyB introduced on April 1, 2024, a 1 per cent CCyB ratio should be maintained for Hong Kong when systemic risks are neither subdued nor elevated. It is therefore appropriate to keep the CCyB ratio at 1 per cent now and continue to monitor the situation closely.
The CCyB is an integral part of the Basel III regulatory capital framework and is being implemented in parallel by Basel Committee member jurisdictions worldwide. The CCyB has been designed by the Basel Committee to increase the resilience of the banking sector against system-wide risks. The banking sector can then act as a “shock absorber” in times of stress, rather than as an amplifier of risk to the broader economy.
The power to implement the CCyB in Hong Kong is provided by the Banking (Capital) Rules, which enable the Monetary Authority to announce a CCyB ratio for Hong Kong. The specific CCyB requirement applicable to a given Authorized Institution (AI) is expressed as a percentage of its CET1 capital to its total risk-weighted assets. Each AI’s CCyB requirement may vary depending on the geographic mix of its private sector credit exposures and the CCyB applicable in each jurisdiction where it has such exposures.
Note: Under the Positive Neutral CCyB approach, authorities aim for a positive CCyB when risks are judged to be neither subdued nor elevated. Please refer to www.bis.org/publ/bcbs_nl30.htm for more information. read more