Author Archives: hksar gov

     Following is the transcript of remarks by the Chief Executive, Mrs Carrie Lam, at a media session before the Executive Council meeting this morning (May 7):
 
Reporter: Mrs Lam, is there anything you possibly can do to resolve the deadlock now, because you have said time and again that you want to improve your relationship with the LegCo and the atmosphere of society. Is it worth it to destroy everything you have built up because of the extradition laws?
 
Chief Executive: If I may put it the other way, improving or enhancing the relationship between the Executive and the Legislature, and between myself and all the members of the Legislative Council, especially the non-pro-establishment members, remains my objective. But that doesn’t mean that I will refrain from dealing with contentious issues or I will accommodate the wishes, no matter how unreasonable these wishes are, from the non-pro-establishment members, in order to appease them or establish a good relationship, because my responsibility is to the people of Hong Kong, and of course also to the Central People’s Government. As you all know, I have dual accountability, so I am doing things in the overall public interest. But, if there is any desire to sit down and discuss with us that we can have better ways and provisions and arrangements to achieve the dual objectives of this particular legislative amendment, and if my personal intervention does help, then of course as the Chief Executive of Hong Kong I will not turn down that request.
 
(Please also refer to the Chinese portion of the transcript.) read more

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) today (May 7) unveiled three sets of measures to support and promote Hong Kong’s green finance development.  In his opening remarks at the HKMA Green Finance Forum today, the Chief Executive of the HKMA, Mr Norman Chan, said that the HKMA will collaborate with the industry and other stakeholders to combat climate change risks and develop green finance.
 
     “Climate change is one of the major risks threatening the well-being of mankind.  It must be tackled on a global basis and across different sectors of the economy. How the banking and financial system operates will clearly have an impact on the way in which climate risk is managed or reduced.  The HKMA, in support of the mission to reduce climate change risks and to achieve sustainable finance, will launch three sets of measures,” said Mr Chan.
 
     These measures include:
 
(1) Green and Sustainable Banking:
 
i. Phase I – developing a common framework to assess the “Greenness Baseline” of individual banks. The HKMA will also      collaborate with relevant international bodies to provide technical support to banks in Hong Kong to better understand the green principles and methodology in undertaking the baseline assessment;
ii. Phase II – engaging the industry and other relevant stakeholders in a consultation on the supervisory expectation or requirement on Green and Sustainable Banking, with a view to setting tangible deliverables for promoting the green and sustainable developments of the Hong Kong banking industry;
iii. Phase III – after setting the targets, implement, monitor and evaluate banks’ progress in this regard.

(2) Responsible Investment: as the manager of the Exchange Fund, the HKMA will adopt a principle that priority can be given to Green and Environmental, Social and Governance (ESG) investments if the long term return is comparable to other investments on a risk-adjusted basis.  Specifically, to support Responsible Investment, the HKMA:
 
i. has already incorporated ESG factors in HKMA’s credit risk analysis of bond investment;
ii. has required external managers of the Hong Kong equity portfolios to comply with the Principles of Responsible Ownership promulgated by the Securities and Futures Commission in 2016 ;
iii. has invested two tranches of US$1 billion each in the Managed Co-lending Portfolio Programme (MCPP) run by the International Finance Corporation (IFC), with a substantial part of the MCPP targeting sustainable investments across emerging market;
iv. will further grow the Exchange Fund’s green bond portfolio, through direct investment in green projects or investment in green bond funds;
v. will participate in ESG-themed public equities investments through external managers in passive or active mandates targeting ESG benchmark index;
vi. will accord green accreditation as a predominant factor in investment in our real estate portfolio; and
vii. will consider an appropriate framework for disclosing information on the Exchange Fund’s Green and ESG investing efforts without arousing market sensitivity in the process.
 
(3) Centre for Green Finance (CGF): Establish the CGF under the HKMA Infrastructure Financing Facilitation Office. It will serve as a platform for technical support and experience sharing for the green development of the Hong Kong banking and finance industry. Meanwhile, the CGF, together with the IFC, will co-organise the next Climate Business Forum in Hong Kong in early 2020. The Forum is the IFC’s flagship event to discuss trends and business opportunities relating to climate change and sustainability.
 
     The HKMA Green Finance Forum brought together over 120 representatives from key stakeholders in green finance including banks, asset managers, multilateral development agencies, professional service providers and green associations. The Forum featured panel discussions on policies, practices and prospects of ESG investment; as well as principles and practices relating to green and sustainable banking. read more

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) today (May 7) unveiled three sets of measures to support and promote Hong Kong’s green finance development.  In his opening remarks at the HKMA Green Finance Forum today, the Chief Executive of the HKMA, Mr Norman Chan, said that the HKMA will collaborate with the industry and other stakeholders to combat climate change risks and develop green finance.
 
     “Climate change is one of the major risks threatening the well-being of mankind.  It must be tackled on a global basis and across different sectors of the economy. How the banking and financial system operates will clearly have an impact on the way in which climate risk is managed or reduced.  The HKMA, in support of the mission to reduce climate change risks and to achieve sustainable finance, will launch three sets of measures,” said Mr Chan.
 
     These measures include:
 
(1) Green and Sustainable Banking:
 
i. Phase I – developing a common framework to assess the “Greenness Baseline” of individual banks. The HKMA will also collaborate with relevant international bodies to provide technical support to banks in Hong Kong to better understand the green principles and methodology in undertaking the baseline assessment;
ii. Phase II – engaging the industry and other relevant stakeholders in a consultation on the supervisory expectation or requirement on Green and Sustainable Banking, with a view to setting tangible deliverables for promoting the green and sustainable developments of the Hong Kong banking industry;
iii. Phase III – after setting the targets, implement, monitor and evaluate banks’ progress in this regard.

(2) Responsible Investment: as the manager of the Exchange Fund, the HKMA will adopt a principle that priority can be given to Green and Environmental, Social and Governance (ESG) investments if the long term return is comparable to other investments on a risk-adjusted basis.  Specifically, to support Responsible Investment, the HKMA:
 
i. has already incorporated ESG factors in HKMA’s credit risk analysis of bond investment;
ii. has required external managers of the Hong Kong equity portfolios to comply with the Principles of Responsible Ownership promulgated by the Securities and Futures Commission in 2016 ;
iii. has invested two tranches of US$1 billion each in the Managed Co-lending Portfolio Programme (MCPP) run by the International Finance Corporation (IFC), with a substantial part of the MCPP targeting sustainable investments across emerging market;
iv. will further grow the Exchange Fund’s green bond portfolio, through direct investment or investment in green bond funds;
v. will participate in ESG-themed public equities investments through external managers in passive or active mandates targeting ESG benchmark index;
vi. will accord green accreditation as a predominant factor in investment in our real estate portfolio; and
vii. will consider an appropriate framework for disclosing information on the Exchange Fund’s Green and ESG investing efforts without arousing market sensitivity in the process.
 
(3) Centre for Green Finance (CGF): Establish the CGF under the HKMA Infrastructure Financing Facilitation Office. It will serve as a platform for technical support and experience sharing for the green development of the Hong Kong banking and finance industry. Meanwhile, the CGF, together with the IFC, will co-organise the next Climate Business Forum in Hong Kong in early 2020. The Forum is the IFC’s flagship event to discuss trends and business opportunities relating to climate change and sustainability.
 
     The HKMA Green Finance Forum brought together over 120 representatives from key stakeholders in green finance including banks, asset managers, multilateral development agencies, professional service providers and green associations. The Forum featured panel discussions on policies, practices and prospects of ESG investment; as well as principles and practices relating to green and sustainable banking.

      

Attention TV/radio announcers: Please broadcast the following as soon as possible: Here is an item of interest to swimmers.      The Leisure and Cultural Services Department announced today (May 7) that due to big wave… read more

     The 2019 Bun Carnival will stage its grand finale, the Bun Scrambling Competition, at the soccer pitch of Pak Tai Temple Playground in Cheung Chau on the night of May 12 (Sunday). A total of 12 finalists will vie for the championships in the men’s and women’s divisions.
 
     Trophies will be awarded to the champion, first runner-up and second runner-up in the men’s division and the champion in the women’s division. The “Full Pockets of Lucky Buns” award will continue to be presented this year to commend the participant who grabs the most buns.
 
     To acknowledge the outstanding achievement of the winners and make the event more appealing, any male or female athlete who has won the first prize three times in the Bun Scrambling Competition from 2016 will become the “King of Kings” or the “Queen of Queens” of the competition and be awarded a trophy.
 
     An opening ceremony to launch the Bun Scrambling Competition will be held at 11.30pm on May 12 (Sunday). The competition will start at midnight according to tradition. An invitation relay with 10 teams from Macao, Shenzhen, Zhuhai and local Cheung Chau organisations will be held immediately after the individual competition. The organisers, together with the Islands District Council, the Islands District Office, the Hong Kong Police Force and the Transport Department, will implement various crowd management measures to maintain public order on the night. Detailed arrangements were announced at a joint press conference today (May 7).
 
     The Chief Leisure Manager (New Territories West) of the Leisure and Cultural Services Department (LCSD), Ms Fanny Ho; the Vice-chairman of the Hong Kong Cheung Chau Bun Festival Committee, Mr Eric Ho; the Assistant District Officer (Islands), Mr Benjamin Au; the Divisional Commander (Cheung Chau) of the Hong Kong Police Force, Mr Wilson Ng; Senior Transport Officer of the Transport Department Miss Florence Ho; and member of the Islands District Council Ms Lee Kwai-chun attended the press conference.
 
     Ms Fanny Ho said at the press conference that four spectator zones will be set up on the competition night at the soccer pitch of Pak Tai Temple Playground, which can accommodate about 1 800 people. The distribution of free admission tickets will start at 10pm. Members of the public can queue up at Pak She First Lane, next to Cheung Chau Fire Station, and along Ping Chong Road to get admission tickets. Each person can obtain one ticket on a first-come, first-served basis while tickets last. Spectators who have got their tickets should follow instructions from the Police and staff of the organisers for admission, which is expected to start from 10.30pm. Spectators should enter Zone 1 to Zone 4 in sequence.
 
     Notices will be put up at Central Pier No. 5 informing the public of the schedule and arrangements of the event. Notices and enquiry counters will also be set up at Cheung Chau Ferry Pier and at the entrance of Pak Tai Temple Playground, where staff will be on hand to address public enquiries.
 
     Ms Ho added that the organisers will monitor the weather conditions on the night. The Bun Scrambling Competition will be cancelled in case of inclement weather, such as thunderstorms, to ensure public safety. As stipulated in the prospectus, awards would then be determined based on the results of the selection contest. Since the Bun Scrambling Competition is traditionally held at a specified period during the Cheung Chau Jiao Festival, no replay of the competition would be organised in such circumstances.
 
     Mr Ng said police officers would be deployed for crowd management. He called on the public to co-operate, follow instructions from the Police and staff of the organisers, and be patient in crowded places.
 
     On the arrangements for public transport services, Miss Florence Ho said the Transport Department would closely monitor the passenger demand for public transport services and would keep in close contact with ferry and bus companies to make necessary and appropriate arrangements.
 
     She added that, to cope with the passenger demand for leaving Cheung Chau after the event, New World First Ferry will additionally operate a special sailing from Cheung Chau to Central at 1.15am on May 13.
 
     The bus companies will operate a special bus service of Cross-Harbour Tunnel route No. 104R from Central Pier No. 5 to Mong Kok from about 1.10am to 2.30am on May 13. Overnight bus routes which depart from the Hong Kong-Macau Ferry Terminal will be progressively diverted via Central Pier No. 5 from about midnight to about 2.50am for passengers’ convenience. These bus routes include Citybus route Nos. N8X (to Siu Sai Wan) and N90 (to South Horizons), as well as Cross-Harbour Tunnel route Nos. N182 (to Kwong Yuen), N619 (to Shun Lee), N373 (to Fanling) and N368 (to Yuen Long West).
 
     Speaking on rescue operations during any possible emergencies, Mr Au said St John Hospital would make appropriate manpower arrangements on the day for the provision of accident and emergency services, while the Hospital Authority will render assistance when necessary. The Government Flying Service will also deploy helicopters and strengthen its manpower.
 
     Jointly organised by the Hong Kong Cheung Chau Bun Festival Committee and the LCSD, the 2019 Bun Carnival is presented with the support of the Cheung Chau Wai Chiu County Association Limited, the Cheung Chau Rural Committee, the Islands District Office, the China Hong Kong Mountaineering and Climbing Union, and the Islands District Council.
 
     For enquiries on the above activities, please contact the Islands District Leisure Services Office of the LCSD on 2852 3220, or visit the department’s website.