As the rainstorm warning has been issued by the Hong Kong Observatory, the Labour Department (LD) reminds employers and contractors that they should adopt necessary work arrangements and take suitable safety measures to pr… read more
Attention duty announcers, radio and TV stations: Please broadcast the following as soon as possible and repeat it at suitable intervals: Members of the public are advised to report any street flooding that comes to … read more
A spokesman for the Education Bureau (EDB) said today (May 20) that following the EDB’s announcement on May 5 that schools in Hong Kong could resume classes by phases in a gradual and orderly manner, an initial implementation plan has been formulated after discussions between the HKSAR Government and various departments of the Shenzhen Municipal People’s Government on the feasibility of class resumption for cross-boundary students (CBS).
The spokesman said, “Though there are signs of easing of the situation of COVID-19 in Hong Kong, the Government will remain vigilant and prudent in our preventive and control measures. There is a considerable number of CBS, totaling 27 000 this school year. When considering whether and how CBS could resume schooling in Hong Kong, while giving due regard to their learning needs, we must take into account health risks posed to the residents of Hong Kong and Shenzhen. A range of issues related to immigration control, epidemic prevention and control policies and transportation arrangement are also involved.”
He stressed that exemption from the 14-day compulsory quarantine requirement and class resumption arrangement on a controlled basis should be granted for CBS with the over-riding principle of safety and health of students, teachers and the public in mind. Relevant measures should be stringent not be relaxed, especially at the initial stage of class resumption, to minimise any risks.
“In view of the above considerations, we will explore the feasibility of class resumption by phases, with a pilot run involving about 2 500 CBS enrolled in S3 to S5 in the first phase of class resumption. This batch of CBS is relatively more mature and have better self-care ability. Since they can take care of themselves when travelling across the border and using transport without the escort by accompanying persons, we trust that class resumption for these students should be smoother,” he said.
“As class resumption arrangements involve various areas including immigration control of the two places, epidemic prevention and control policies and transportation arrangements, we will continue to coordinate with different parties to enable the first batch of CBS (S3 to S5) to attend schools in Hong Kong as early as possible. That said, as a number of the fine implementation details have yet to be finalised, it is expected that the new arrangement will not come into effect on May 27. Before the new measures are in place, we appeal to schools and teachers to sustain their support for students to learn at home by helping CBS and their parents through diversified modes of learning (including e-learning).”
“According to the initial implementation plan, S3 to S5 CBS can travel via Shenzhen Bay Port or Futian / Lok Ma Chau Spur Line Port from Monday to Friday for attending school and returning home. The limited opening of Futian / Lok Ma Chau Spur Line Port is only for immigration clearance of CBS. Such an arrangement is not applicable to other travelers. To avoid unnecessary social contact, CBS will take school buses to travel between schools and boundary control points upon arrival in Hong Kong. Students will be subject to health protection measures of the two places when they travel across the border every day, including temperature checking, submission of health declaration forms to the staff of the Department of Health, subjecting to health and precautionary surveillance to be implemented by schools during school time, and presenting a negative nucleic acid test result with a validity of seven days to the Shenzhen authority.”
The EDB today issued a letter to all secondary schools and some special schools with secondary section requesting them to ask parents for the relevant information so that the departments concerned can consider as soon as possible the feasibility of the initial implementation plan on exemption from compulsory quarantine, border control point clearance, school bus arrangements and quarantine arrangements as well as the timetable for implementation.
The spokesman said that the EDB will continue to follow up with the relevant departments on the arrangements of class resumption for CBS and will announce the other details as soon as possible. read more
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm and subsidiary of the Hong Kong Academy of Finance (AoF), today (May 20) released a report, entitled “Fintech Adoption and Innovation in the Hong Kong Banking Industry” as the first in a series of Applied Research reports on topics that are highly relevant to the financial industry and regulators in Hong Kong, and they provide insights on the long-term development strategy and direction of Hong Kong’s financial industry.
The report is based on an industry-wide survey carried out by the Hong Kong Monetary Authority (HKMA) Market Research Division, which aims to assess the current status of Fintech adoption in the Hong Kong banking industry and understand banks’ views on the prospect of Fintech development in the next ten years.
“It is encouraging to note from the survey results that banks see Fintech development more as an opportunity than a threat to their business operations, now and in the next five years, with risk management services having the greatest potential. Meanwhile, 86 per cent of banks have adopted or plan to adopt Fintech solutions across all types of financial services. Preliminary results also show that increased cost efficiency and improved profitability are associated with more extensive Fintech adoption by banks. Looking to the next ten years, banks are confident that they will continue to play a key role through adaptation and innovation. Banks would not be displaced by new competitors as technological changes would help enhance business models and maintain core banking services,” said Senior Executive Director of the HKMA, Mr Edmond Lau.
The report is available on the AoF/HKIMR website.
About The Hong Kong Institute for Monetary and Financial Research
The HKIMR is the research arm and subsidiary of the AoF that has been established in June 2019 by the HKMA in full collaboration with the Securities and Futures Commission, the Insurance Authority, and the Mandatory Provident Fund Schemes Authority. The HKIMR’s Applied Research activity is carried out under the guidance of the Council of Advisers for Applied Research that comprises representatives from the HKMA, other local financial regulatory bodies, the financial industry and established local and overseas academics with relevant expertise.
The following is issued on behalf of the Legislative Council Secretariat: The Legislative Council (LegCo) meeting was adjourned today (May 20) due to the lack of a quorum. The President of the LegCo has, in accordance with R… read more