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 China CITIC Bank International Lim… read more
An operational event at Yangjiang Nuclear Power Station (YNPS) was reported on the website of Yangjiang Nuclear Power Co Ltd (YNPC), a Security Bureau spokesperson said today (June 2). On M… read more
The following is issued on behalf of the Transport Advisory Committee:
The Transport Advisory Committee (TAC) was briefed today (June 2) on the progress of introducing the “Central – Hung Hom” ferry route and the pilot “water taxi” service, as well as the improvement works for cycle track networks in new towns and the latest operation of automated dockless bicycle rental services (ADBRS) in Hong Kong.
The Government announced in March 2020 that Fortune Ferry Company Limited (the operator) was selected to operate the “Central – Hung Hom” ferry and “water taxi” services. The two services are expected to commence operation on June 28 and at the end of 2020 respectively. The operator is actively gearing up for the service commencement. It has pledged to introduce newer and greener vessels to its fleet gradually, disseminate real-time arrival/departure information of the ferry routes via smartphone applications within six months of service commencement and enhance pier facilities, such as by providing free WiFi service.
The Government will closely monitor the preparatory work carried out by the operator, as well as provide and enhance ancillary transport facilities or arrangements in a timely manner to ensure the smooth introduction of the ferry routes.
The TAC Chairman, Professor Stephen Cheung, said, “Members welcome the introduction of the ‘Central – Hung Hom’ ferry and ‘water taxi’ services, which will provide the public with more diversified transport options. Members also offered views on the ferry services and the ancillary facilities.”
In addition, Members were briefed by the Government on the improvement works for cycle track networks in new towns and the latest operation of ADBRS in Hong Kong.
The Government promotes cycling for recreation and short-distance commuting where road safety and conditions permit, in particular in new towns and new development areas. The Transport Department (TD) together with the Highways Department have been implementing the improvement works of the existing cycling facilities in nine new towns in three phases. By the end of 2021, both the Phase 1 and Phase 2 improvement works will cover altogether about 550 sites and provide about 3 000 additional public bicycle parking spaces.
Since the TD’s promulgation of a Code of Practice, operators of ADBRS have introduced several improvement measures. The TD will continue to closely monitor the operation of ADBRS through the Code. At the same time, relevant departments will continue their efforts in conducting regular clearance operations to remove illegally parked bicycles.
Professor Cheung said, “Members noted the latest progress of the improvement works for the cycle tracks in nine new towns as well as the operation of ADBRS, and welcome the Government’s ongoing efforts in fostering a ‘bicycle-friendly environment’.” read more
A spokesman for the Civil Service Bureau said today (June 2) that the Chief Executive-in-Council (CE-in-Council) has decided that the pay for civil servants in the upper, middle and lower salary bands and the directorate in 2020-21 should be frozen with retrospective effect from April 1, 2020.
In arriving at this decision, the CE-in-Council has fully and thoroughly considered all relevant factors under the established annual civil service pay adjustment mechanism, including:
* the net pay trend indicators (net PTIs);
* the state of Hong Kong’s economy;
* changes in the cost of living;
* the Government’s fiscal position;
* the pay claims of the staff side; and
* civil service morale.
The Net PTIs
According to the 2020 Pay Trend Survey, the net PTIs for the upper, middle and lower salary bands are 1.68 per cent, 1.98 per cent and 1.15 per cent respectively.
The State of Hong Kong’s Economy
The threat of COVID-19 and the necessary anti-epidemic measures seriously disrupted a wide range of economic activities in Hong Kong. The real Gross Domestic Product contracted sharply by a record 8.9 per cent year-on-year in the first quarter of 2020. Furthermore, the seasonally adjusted unemployment rate, after rising noticeably from 3.3 per cent in the fourth quarter of 2019 to 4.2 per cent in the first quarter of 2020, surged further to 5.2 per cent in February to April 2020. The underemployment rate likewise soared from 1.2 per cent in the fourth quarter of 2019 to 3.1 per cent in February to April 2020.
Changes in the Cost of Living
For the 12-month period ending March 2020, the headline Composite Consumer Price Index (CPI), which reflects the impact of the changes in consumer prices on approximately 90 per cent of households, increased by 2.8 per cent as compared to the previous 12-month period ending March 2019.
The Government’s Fiscal Position
The Government ran a fiscal deficit of about $10.6 billion in 2019-20, the first time for Hong Kong over the past 15 years. In 2020-21, the fiscal deficit is estimated to increase substantially to around $280 billion or even more. As at March 31, 2020, the fiscal reserves stood at $1,160.3 billion, though the figure is expected to drop to around $800 billion to $900 billion by the end of 2020-21.
The Pay Claims of the Staff Side
The staff side of the four central consultative councils made different pay claims for the 2020-21 pay adjustment, ranging from a pay freeze to a 4 per cent pay rise.
Civil Service Morale
Civil servants cite their dedication and hard work in fighting the COVID-19 epidemic and rising public expectations to justify recognition from the Government for their efforts. Given the positive net PTIs and a headline Composite CPI of 2.8 per cent, the staff side generally consider that the pay rise should not be less than the net PTIs or the headline Composite CPI.
“The CE-in-Council fully recognised civil servants’ efforts and contributions in coping with the social events and COVID-19 in the past year. The pay freeze decision was made by the CE-in-Council having thoroughly considered all relevant factors under the established mechanism. Hong Kong’s economy and the Government’s fiscal position are being hit hard. While all the three net PTIs and the headline Composite CPI are in the positive, it should be pointed out that the net PTIs are but one of the six relevant factors to be taken into account for deciding the annual civil service pay adjustment. The pay freeze decision has, therefore, been made in strict accordance with the established civil service pay adjustment mechanism,” the spokesman said.
“The Government has informed the staff side representatives of the four central consultative councils and representatives of the four major service-wide staff unions of the decision. We will brief the Legislative Council Panel on Public Service on June 19.” read more
The following is issued on behalf of the Hong Kong Monetary Authority: Exchange Fund Bills tender results: Tender date : June 2, 2020 Paper on offer : EF Bills … read more