Author Archives: hksar gov

     The Constitutional and Mainland Affairs Bureau (CMAB) will stage the “Start-ups＊Opportunities  Hong Kong＊Greater Bay Area” pavilion in the Entrepreneur Day exhibition at the Hong Kong Convention and Exhibition Centre on July 16 and 17. The pavilion will provide the latest useful information on start-up opportunities and supporting services in Hong Kong and other cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to Hong Kong young people who intend to start their own businesses.
 
     Young people and entrepreneurs are welcome to visit the “Start-ups＊Opportunities  Hong Kong＊Greater Bay Area” pavilion and admission is free. The informative pavilion consists of four parts:
 
1. Start-ups in Hong Kong – introducing the funding schemes for youth innovation and entrepreneurship, various entrepreneurship support platforms, consultation services for start-ups and small and medium-sized enterprises, and more;
 
2. Start-ups in the GBA – introducing measures in the nine Mainland cities in the GBA that support youth innovation and entrepreneurship, services of entrepreneurial bases, funding schemes for experiential programmes for Hong Kong and Macao young people, and more;
 
3. Overview of cities in the GBA – introducing the economic situation and industry features of Hong Kong, Macao and the nine Mainland cities in the GBA, as well as the modern transportation infrastructure that enhances the convenient flow of people and goods; and
 
4. Policy measures in the GBA – introducing the policy measures introduced by the Central Government to enable Hong Kong residents to grasp the opportunities brought about by the GBA and to do business, work and reside in the Mainland.
 
     In addition, the CMAB has invited two local young entrepreneurs, Mr Eric Kuo and Ms Gisella Tong, to share their experience in starting businesses in the GBA and respond to participants’ enquiries at the “Latest Development of Start-ups in the Greater Bay Area Seminar” on July 17 (11am to noon). Mr Kuo is a Co-founder of R-Guardian while Ms Tong is the Creative and Marketing Director of Round the Clock Studio Limited.
 
     The “Start-ups＊Opportunities  Hong Kong＊Greater Bay Area” pavilion will be staged at Hall 5F (Number 5F-A02 of Entrepreneur Day exhibition) of the Hong Kong Convention and Exhibition Centre on July 16 (10.30am to 7pm) and July 17 (10.30am to 6pm). For further details and pre-registration for Entrepreneur Day, please visit the Hong Kong Trade Development Council’s website (www.hktdc.com/fair/eday-en/HKTDC-Entrepreneur-Day.html). For pre-registration for the seminar, please visit hktdc.hermeslive.com/en/register.
 
     For further details of the “Start-ups＊Opportunities  Hong Kong＊Greater Bay Area” pavilion, please contact the CMAB (Tel: 2810 2059; email: enquiry@bayarea.gov.hk). For more information about the GBA, please visit the dedicated website (www.bayarea.gov.hk/en/home).

  

     â€‹A female director cum salesperson of a beauty parlour was sentenced to imprisonment for three months suspended for one year and fined $2,000 today (July 9) after her conviction at West Kowloon Magistrates’ Courts for engaging in unfair trade practices involving a misleading omission in the sale of beauty services, in contravention of the Trade Descriptions Ordinance (TDO). She was also ordered to pay the remaining treatment balance, namely $1,950, to the victim as compensation.  

     Customs earlier received information alleging that a staff member of a beauty parlour in Tsuen Wan had engaged in unfair trade practices in the course of selling beauty services. 

     After an investigation, it was revealed that a director cum salesperson of the beauty parlour, in the course of selling a beauty service, intentionally hid a piece of material information, namely that the location where the relevant services were to be supplied would be moved to other locations on the next day after the deal. It caused a customer to make a transactional decision as a result.  

     Customs reminds traders to comply with the requirements of the TDO and consumers to procure services at reputable shops. 

     Under the TDO, any trader who engages in a commercial practice that omits or hides material information or provides material information in a manner that is unclear, unintelligible, ambiguous or untimely, and as a result causes, or is likely to cause, an average consumer to make a transactional decision commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years.

     Members of the public may report any suspected violations of the TDO to Customs’ 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk). read more

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

     The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public in Hong Kong to a suspected fraudulent website with the domain name http://www.macauoscuhk.com. The website is operated by an alleged Macau Offshore Credit Union HK.

     The public should be aware that Macau Offshore Credit Union HK is not authorised by the Monetary Authority (MA) under the Banking Ordinance to carry on banking business or the business of taking deposits in Hong Kong, nor does it have the MA’s approval to establish a local representative office.

     The HKMA has referred the case to the Hong Kong Police Force for further investigation. Anyone who has provided his or her personal information to the website or has conducted any financial transactions through the website should contact any local Police Station or the Cyber Security and Technology Crime Bureau of the Hong Kong Police Force at 2860 5012.

     Given the global nature of the Internet, members of the public are reminded to verify the status of any organisation making use of the Internet to solicit deposits from the public. A list of authorised institutions is available on the HKMA’s website (www.hkma.gov.hk). Members of the public may also check the status of any entity in Hong Kong which solicits deposits from the public with the HKMA by emailing its public enquiry service (publicenquiry@hkma.gov.hk). read more

The following is issued on behalf of the Hong Kong Monetary Authority:        The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by The Hongkong and Shanghai Banking Corporation… read more

     The Financial Secretary has, under the authority delegated by the Chief Executive, appointed the following four new members to the Financial Reporting Review Panel (FRRP) for a term of three years from July 16, 2020, to July 15, 2023, in accordance with the Financial Reporting Council Ordinance (Cap. 588) (FRC Ordinance):
 
Professor Gu Zhaoyang
Professor Hung Ming-yi
Professor James Arvid Ohlson
Professor Wang Xin
 
     A Government spokesman today (July 9) said, “The Financial Reporting Council (FRC) is an important institution tasked to enhance the regulation of the accounting profession and corporate governance of companies listed in Hong Kong. One of the statutory functions of the FRC is to initiate enquiries concerning non-compliance with legal, accounting or regulatory requirements in a listed entity’s financial reports.
 
     “The FRRP, a statutory body established under the FRC Ordinance, is indispensable to the discharge of the FRC’s statutory functions of enquiries. The work of the FRRP will benefit from the rich experience and professional knowledge of the members.
 
     “We would also like to take this opportunity to express our heartfelt appreciation to the outgoing members, Professor Peter Cheng Shu-tong and Ms Teo Chew-ping, for their valuable contribution to the work of the FRRP in the past years,” the spokesman added.
 
     When an enquiry case arises, the FRC will appoint one convenor and four or more members from the FRRP to form a Financial Reporting Review Committee which will enquire into the relevant non-compliance of the case. The Committee will submit an enquiry report on the case to the FRC for consideration and, where appropriate, follow-up action. read more