Tag Archives: China

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Exchange Fund Bills tender results

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

     Exchange Fund Bills tender results:
 

Tender date : March 26, 2024
Paper on offer : EF Bills
Issue number : Q2413
Issue date : March 27, 2024
Maturity date : June 26, 2024
Amount applied : HK$125,231 MN
Amount allotted : HK$60,237 MN
Average yield accepted : 4.40 PCT
Highest yield accepted : 4.48 PCT
Pro rata ratio* : About 38 PCT
Average tender yield : 4.52 PCT
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Tender date : March 26, 2024
Paper on offer : EF Bills
Issue number : H2442
Issue date : March 27, 2024
Maturity date : September 25, 2024
Amount applied : HK$40,035 MN
Amount allotted : HK$15,000 MN
Average yield accepted : 4.34 PCT
Highest yield accepted : 4.44 PCT
Pro rata ratio* : About 1 PCT
Average tender yield : 4.48 PCT
 
*”Pro rata ratio” refers to the average percentage of allotment with respect to each tender participant’s tendered amount at the “highest yield accepted” level.  read more

Two property co-owners fined about $25,000 for not complying with mandatory building inspection statutory notice

     Two property co-owners were convicted and fined about $25,000 in total at the Kowloon City Magistrates’ Courts this month for failing to comply with a statutory notice issued in respect of their residential unit under the Mandatory Building Inspection Scheme (MBIS) according to the Buildings Ordinance (BO) (Cap. 123).

     The subject unit is located in a 59-year-old composite building on Apliu Street, Sham Shui Po. A statutory notice was issued under section 30B(5) of the BO by the Buildings Department (BD), requiring the concerned owners to appoint a registered inspector to carry out the prescribed inspection and, if necessary, prescribed repair in respect of the balcony of the unit.

     Since the owners failed to comply with the statutory notice, they were prosecuted by the BD and were convicted and fined by the court on March 6 and 20 respectively.

     “Failing to comply with a statutory notice without reasonable excuse is a serious offence under the BO. The BD may instigate prosecution proceedings against the owner according to the BO”, a spokesman of the BD said today (March 26).

     Pursuant to section 40(1BC) of the BO, any person who, without reasonable excuse, fails to comply with a statutory notice served on the person, commits an offence and is liable on conviction to a fine at level 5 ($50,000 at present) and to imprisonment for one year, as well as a further fine of $5,000 for each day that the offence has continued.

     The Layman’s Guide on MBIS can be downloaded from the BD website at www.bd.gov.hk/doc/en/resources/pamphlets-and-videos/LGMBIS_e.pdf. read more

EDB announces notification arrangements on Secondary One discretionary places and distribution of school choice documents for Central Allocation

     Parents of Primary Six students participating in the current (2024) cycle of the Secondary School Places Allocation (SSPA) System who have made applications at the discretionary places (DP) stage will receive notifications tomorrow (March 27) from the secondary schools they have applied for if their children have been selected as successful applicants. Students who have not been notified as successful DP applicants can participate in the Central Allocation (CA), the Education Bureau (EDB) announced today (March 26).
 
Notification arrangements for successful DP applicants
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     Under the notification arrangements for successful DP applicants, if students are included by participating secondary schools in their Successful Lists for Discretionary Places, their parents will receive notifications from the secondary schools concerned on March 27. Parents who have registered as SSPA e-platform (eSSPA) users with “iAM Smart” or “iAM Smart+” may also view notifications for successful DP applicants via the eSSPA starting from 10am on the same day. Parents do not need to reply to the secondary schools whether they would accept the DP offers.
 
     Parents of successful DP applicants who have also successfully applied for a school place in a non-participating Direct Subsidy Scheme (DSS) secondary school should decide between the two options. If the parents decide to accept the offer from the non-participating DSS secondary school, they should disregard the notifications from the secondary schools which have selected their children at the DP stage. Their children will be allocated to the DSS secondary school concerned according to the established mechanism. If the parents decide to decline the offer from the non-participating DSS secondary school, they should notify the DSS secondary school concerned and retrieve the originals of the signed Parent’s Undertaking and the Primary 6 Student Record Form on or before April 10 in order to retain the school place successfully applied for at the DP stage.
 
Distribution of school choice documents for CA
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     Parents who have registered as eSSPA users and bound their account to “iAM Smart+” may browse choice-making information and documents, submit CA applications and view allocation results via the eSSPA. To cater for the needs of different parents, traditional paper application forms will continue to be accepted, and primary schools participating in the SSPA System have been informed to collect copies of the following documents on April 9:
 

  • Secondary One Choice of Schools Form (Choice Form);
  • Notes for Parents on Central Allocation (Notes for Parents);
  • Secondary School List (SSL); and
  • Handbook for Unrestricted School Choices (Handbook).
 
     Parents of Primary Six students participating in the SSPA will each receive the Choice Form, the Notes for Parents and the SSL (with the latest version available online) for the school net of the student from his or her primary school. Parents may ask for the Handbook for reference from primary schools or obtain the latest version of the Handbook through the EDB website (www.edb.gov.hk) and the fax service of the EDB’s 24-hour automatic telephone enquiry system on 2891 0088.
 
Filling in CA Choice Form
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     Both the electronic and paper Choice Forms are divided into two parts (Part A and Part B). Parents should refer to the Handbook with information of secondary schools in all districts when filling in Part A “Unrestricted School Choices” of the Choice Form and choose not more than three secondary schools from any school net, including the student’s school net. As for Part B “Restricted School Choices”, parents should refer to their child’s SSL to choose secondary schools according to their preference, and fill up the 30 choices as far as possible. Parents must not enter any school choices which are not in the SSL of the school net of the child in Part B since invalid school choices will not be processed.
 
     The EDB reminded parents that prior to making school choices for their children, they should read carefully the Notes for Parents to understand in detail the SSPA System. Parents should also consider the schools in all respects, such as their educational philosophy, tradition, religion, class structure, development and operation, and their children’s characteristics, personalities, abilities and interests, so as to make a suitable school choice. Parents may refer to the Secondary School Profiles 2023/2024 (www.chsc.hk/secondary) or school websites for the relevant information.
 
     Parents must return the completed electronic or paper Choice Form to their children’s primary school for submission to the EDB on or before May 6. Parents should not submit duplicate applications via the eSSPA and in paper form to the attending primary school for the same child. Should individual parents have genuine difficulties in returning the duly completed Choice Form to their children’s primary school in person or through an authorised representative, he or she should contact the primary school in advance for an appropriate arrangement.
 
Announcement of allocation results for SSPA
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     The results for SSPA 2024 for both the DP and CA stages will be announced on July 9. Parents who have registered as eSSPA users with “iAM Smart” or “iAM Smart+” may view the allocation results via the eSSPA starting from 10am on the same day. Parents wishing to receive the result of their children via SMS message on that day should provide a mobile phone number on the electronic or paper Choice Form to indicate their consent to receive the result at that phone number. Parents may refer to the Notes for Parents for more information.
 
     The EDB encourages parents to register with “iAM Smart+” (www.iamsmart.gov.hk/reg.html) as early as possible for more convenient and faster services throughout the entire Secondary One application process. Please refer to the series of related videos and the Parent’s Guide on the bureau’s homepage (www.edb.gov.hk/en/edu-system/primary-secondary/spa-systems/secondary-spa/general-info/sspa_eplatform_parents_guide.html) for details on creating and logging into an eSSPA account, viewing notifications for successful DP applicants, and submitting CA applications via the eSSPA.
 
     Parents who have questions about completing the Choice Form are advised to consult their children’s primary schools. Relevant information about the SSPA System and some frequently asked questions will be uploaded to the EDB’s homepage on April 9 for parents’ reference. Further enquiries may also be directed to the School Places Allocation Section (SSPA) of the EDB (Tel: 2832 7740 and 2832 7700). read more

CE expresses sorrow over passing of Dr Eddy Li

     â€‹The Chief Executive, Mr John Lee, today (March 26) expressed his profound sorrow over the passing of Dr Eddy Li.

     “I have known Dr Li for many years. He was a successful business leader and an outstanding industrialist who had held important positions in various local business associations, contributing to the development of Hong Kong’s industrial and business community. Dr Li served as a member of the National Committee of the Chinese People’s Political Consultative Conference, and was President of the Chinese Manufacturers’ Association of Hong Kong, President of the Hong Kong Economic & Trade Association, and Executive President of the China Federation of Literary and Art Circles Hong Kong Members Association. He actively participated in various advisory and statutory bodies of the Government, providing valuable counsel on the development of the country and the Hong Kong Special Administrative Region. Throughout the years, Dr Li was deeply involved in public and community services, making significant contributions in such areas as the economy, culture and youth development. He was awarded the Gold Bauhinia Star in 2017.

     “The sudden passing of Dr Li is a great loss to Hong Kong society. I am deeply saddened by his passing. On behalf of the Hong Kong Special Administrative Region Government, I extend my deepest condolences to Dr Li’s family,” Mr Lee said. read more