The effective exchange rate index for the Hong Kong dollar on Wednesday, August 7, 2019 is 106.6 (same as yesterday's index).

     ​Invest Hong Kong (InvestHK) held an investment promotion seminar in Jinan, Shandong Province, today (August 7) to encourage Shandong enterprises to make use of Hong Kong's business advantages and professional services to accelerate their overseas expansion amid the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development.
             
     The seminar, entitled "Leveraging Hong Kong's platform for Shandong enterprises to 'go global'", was jointly organised by InvestHK and the Department of Commerce of Shandong Province. It was also co-organised by the Hong Kong Economic and Trade Office in Shanghai and the Shandong Liaison Unit of Hong Kong Special Administrative Region (HKSAR) Government. The Associate Director-General of Investment Promotion, Dr Jimmy Chiang, and the Deputy Director of Department of Commerce of Shandong Province, Mr Zhang Weike, delivered welcome remarks at the event.
             
     Dr Chiang said, "Operating under the principle of 'one country, two systems', Hong Kong enjoys the dual advantages of being part of China, while maintaining its international outlook and role as an international centre for professional services, finance, transportation and trade, with its own economic, legal and social systems. The city has been ranked as the world's freest market for 25 consecutive years by the Heritage Foundation. It has been an important economic and trade partner as well as a key conduit for foreign investment in Shandong province for many years. Shandong enterprises can leverage our world-class financial and professional services to finance projects and mergers and acquisitions deals. They can also access the very best accounting and tax, legal, construction engineering design, management and project planning, manpower training as well as dispute resolution services and much more. With the aim of upgrading its industrial transformation, Shandong enterprises can leverage Hong Kong's vibrant business platform to seize the new opportunities arising from the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development."
             
     The Head of Mainland Business Development of InvestHK, Ms Loretta Lee, further elaborated on how Mainland enterprises can capitalise on Hong Kong's business advantages to "go global". The Team Head of Corporate Marketing Management Division, Global Corporate Banking Department of Bank of China (Hong Kong) Limited, Ms Michelle Kwok, introduced Hong Kong's comprehensive professional financial services for Mainland companies to use Hong Kong as a springboard to overseas markets. Partner, China Tax and Business Advisory Services of Ernst & Young Tax Services Limited, Ms Lorraine Cheung, and Assistant Vice President of the Beijing Representative Office, Mainland Development, Hong Kong Exchanges and Clearing Limited, Ms Cathy Hong, talked about how to make use of Hong Kong's tax advantages to capture opportunities amid Belt and Road initiatives. They also discussed the latest developments of Hong Kong's securities market, providing information on listing in the city. Immigration Officer, Hong Kong Economic and Trade Office in Shanghai, HKSAR Government, Miss Mak Shuk-wan, also explained the work visa arrangements for entry into Hong Kong from the Mainland.        
    
About InvestHK
         
     InvestHK is the department of the HKSAR Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.     
             
     For an event photo, please visit www.flickr.com/photos/investhk/albums/72157710128397931.

    

     The Electrical and Mechanical Services Department (EMSD) today (August 7) announced that the department tested 180 water samples collected from cooling towers in 82 buildings in its routine inspections in July this year. Four samples were detected to have a total legionella count at or above the upper threshold, which is 1 000 colony-forming units per millilitre. The latest statistics are set out in Annex 1.

     The cooling towers in which the four samples were collected in July are located at Howard Factory Building, 66 Tsun Yip Street, Kwun Tong, and Hoi Bun Industrial Building, 6 Wing Yip Street, Kwun Tong. The EMSD issued nuisance notices under the Public Health and Municipal Services Ordinance to the owners of the cooling towers requiring appropriate disinfection work to be done. Disinfection of the cooling towers in these four cases has already been completed by the owners. Details of these four cases can be found in Annex 2. The EMSD publishes the latest statistics of the above information on a half-monthly basis on its website (www.emsd.gov.hk/en/other_regulatory_services/cooling_towers/water_sampling/index.html).

     The EMSD reminds the owners of fresh water cooling towers that they have the responsibility to design, operate and maintain cooling towers properly. They should arrange regular inspections, timely maintenance and periodic testing of the water quality in their cooling towers in accordance with the Code of Practice for Fresh Water Cooling Towers issued by the department to prevent the proliferation of legionella.

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 Limited on phishing email, which has been reported to the HKMA. Hyperlink to the press release is available on the HKMA website for ease of reference by members of the public.

     Anyone who has provided his or her personal information to the email concerned or has conducted any financial transactions through the email should contact the bank concerned using the contact information provided in the press release, and report to the Police or contact the Cyber Security and Technology Crime Bureau of the Hong Kong Police Force at 2860 5012.

     In response to a source quoted today (August 7) as someone saying that the Director of Public Prosecutions (DPP) has proposed to establish a so-called "independent prosecution committee", the Secretary for Justice and the DPP confirm that the report is totally unfounded and they are deeply disappointed over it.