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 (January 21) that … read more
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao (AMCM) jointly announced today (January 21) the official launch of the direct linkage between the Central Moneymarkets Unit (CMU) operated by CMU OmniClear Limited (a wholly-owned subsidiary of the Exchange Fund), and the central securities depository (CSD) operated by Macao Central Securities Depository and Clearing Limited (a wholly-owned subsidiary of the AMCM). The direct linkage aims to promote the development of the bond markets in the two regions.
Since the joint announcement on September 16, 2024, the HKMA and the AMCM have co-operated closely to prepare for the launch of the direct linkage and to jointly develop the business arrangements and operational procedures. The connection between the bond market infrastructures in Hong Kong and Macao will provide a cross-border investment and financing channel, enabling investors from both markets to participate in each other’s bond market with greater ease and efficiency. The direct linkage also signifies a new milestone in financial co-operation between Hong Kong and Macao, leveraging the strengths of both regions and demonstrating the synergistic development of the Guangdong-Hong Kong-Macao Greater Bay Area.
Chief Executive of the HKMA, Mr Eddie Yue, said “To enhance the competitiveness of Hong Kong as an international financial centre, the HKMA has established connectivity with various neighbouring financial markets over the years, and continues to explore direct linkages with other central securities depositories. The direct linkage showcases Hong Kong’s role as a ‘super-connector’ and represents a major step towards developing the CMU into an international CSD in Asia.”
Chairman of the AMCM, Mr Benjamin Chan, said “The official launch of the direct linkage between the bond markets of Macao and Hong Kong achieved the first connectivity of Macao’s bond market infrastructure established with a CSD located outside of Macao. This will provide international investors, including those from Portuguese-speaking countries, with a convenient channel to participate in the bond markets of Macao and Hong Kong, further strengthening Macao’s function as the financial services platform serving China and Portuguese speaking countries. The AMCM will continue to establish connectivity with the bond markets in Mainland and international markets, to gradually expand new financial services and to support the development of appropriate economic diversification for Macao.” read more
​The Financial Secretary, Mr Paul Chan, arrived in Davos, Switzerland, yesterday morning (January 20, Davos time) to participate in the World Economic Forum (WEF) Annual Meeting 2025.
Upon arrival, Mr Chan had lunch with several leaders from the finance and business sectors attending the Annual Meeting. He promoted Hong Kong’s advantages and value as a “super connector” and “super value-adder” to them. The guests included representatives from large-scale financial, transportation, industrial and technology enterprises from Europe, America, the Middle East and Japan. During the lunch meeting, Mr Chan briefed the guests on Hong Kong’s latest economic and social developments, particularly the positive progress made in the local financial market last year, and the achievements in attracting businesses and talent. He emphasised Hong Kong’s strategies and measures for developments in finance, innovation and technology, trade and aviation, as well as how to create opportunities for businesses and talent worldwide.
Thereafter, Mr Chan met with the Secretary-General of the Gulf Cooperation Council (GCC), Mr Jasem Mohamed Albudaiwi, to discuss strengthening bilateral trade co-operation. He expressed his gratitude for Mr Albudaiwi’s visit to Hong Kong to attend the 18th Asian Financial Forum (AFF). Both parties agreed that the new session “Gulf Cooperation Council Chapter” at the AFF marked a milestone in advancing financial services co-operation between Hong Kong and the Gulf states. Mr Chan also expressed hope for accelerating the signing of a free trade agreement between Hong Kong and the GCC, and noted that the HKSAR Government will actively promote more two-way visits of business delegations, thereby facilitating the matching of projects in the digital economy and green transformation, as well as co-operation in the securities markets, Islamic finance, and asset and wealth management between Hong Kong and the Arab States.
In the afternoon, Mr Chan met with Mr Martin Gilbert, the Chair of Revolut, a UK-based fintech company specialising in digital banking services, to learn about the latest developments in their digital banking operations, cryptocurrency trading and security risk management for digital banking services. Mr Chan noted that Hong Kong has a vibrant fintech ecosystem, and is the best entry point into the Chinese Mainland market. He welcomed Revolut to expand its business in Hong Kong to tap into the Mainland and Southeast Asian markets.
In the evening, Mr Chan attended the welcome reception hosted by the WEF. He will continue his trip in Davos today (January 21, Davos time), including attending the Special Address by Vice Premier of the State Council Mr Ding Xuexiang.
Attention duty announcers, radio and TV stations:
The fire danger situation today (January 21) is red and fire risk is extreme. The countryside is extremely vulnerable to fire. If you are planning to spend the day in the countryside, please take pre-cooked food for a picnic and take all measures to prevent hill fires. The penalty for lighting fires illegally in the countryside is $25,000 and a year’s imprisonment. read more
​The Labour Department (LD) is highly concerned about a fatal work accident that happened at a detached house in Jardine’s Lookout this morning (January 20), in which a man fell from a wooden folding ladder while installing an air-conditioner. He was certified dead later in hospital. The LD is saddened by his death and expresses its deepest sympathy to his family.
The LD’s spokesman said, “We commenced an immediate on-site investigation as soon as we were notified of the accident and have issued suspension notices to the contractors concerned, suspending the air-conditioning works at the detached house concerned. The contractors cannot resume the work process until the LD is satisfied that suitable measures to abate the relevant risks have been taken.”
The spokesman added, “We will complete the investigation as soon as possible to identify the cause of the accident, ascertain the liability of the duty holders and recommend improvement measures. We will take actions pursuant to the law if there is any violation of the work safety legislation.”
To protect workers’ safety, the LD reminds contractors that ladders are usually used for ascending and descending only. Using ladders for work-above-ground is unsafe. Contractors shall provide and ensure that workers use appropriate working platforms or other safe means of support, including step platforms or hop-up platforms in conformity with international or national standards, instead of ladders.
The general duty provisions of the Occupational Safety and Health Ordinance require employers to provide safe working environments, plant and systems of work for their employees. Those who contravene the relevant provisions are liable to a maximum fine of $10 million and imprisonment for two years.
In regard to today’s accident, the LD will issue a Work Safety Alert through its mobile application “OSH 2.0”, website and email, giving a brief account of the accident concerned to duty holders, workers’ unions, professional bodies of safety practitioners and others, and reminding the industry of the importance of following safety precautionary measures to prevent a recurrence of similar accidents.
The LD will also remind the employer concerned of the liability for employees’ compensation under the Employees’ Compensation Ordinance, assist family members of the deceased to claim employees’ compensation and closely follow up on the case. For those with financial difficulties, the LD will assist them to apply for appropriate emergency funds. Subject to the needs and wishes of family members of the deceased, the LD will also liaise with the Social Welfare Department for financial or other assistance.
For the sake of securing the safety and health of employees at work, the LD appeals to employers to provide plant and systems of work that are safe and without risks to health. Employees should co-operate with their employers, adopt all safety measures and use personal protective equipment provided properly to avoid endangering their own work safety and that of other workers. read more