Tag Archives: China

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

     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (November 19) that a tender of 5-year Government Bonds (Bonds) through the re-opening of existing 10-year Government Bond issue 10GB2301 under the Institutional Bond Issuance Programme will be held on November 28 (Wednesday), for settlement on November 29 (Thursday).
 
     An additional amount of HK$2.5 billion of the outstanding 10-year Bonds (issue no. 10GB2301) will be on offer. The Bonds will mature on January 17, 2023 and will carry interest at the rate of 1.10 per cent per annum payable semi-annually in arrears. The Bonds Fixings on November 19, 2018 is 95.76 with an annualised yield of 2.183 per cent.
 
     Under the Institutional Bond Issuance Programme, tender is open only to Recognised Dealers which are appointed as Primary Dealers. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the current published list, which can be obtained from the Government Bond Programme’s website at www.hkgb.gov.hk; Each tender must be for an amount of HK$50,000 or integral multiples thereof.
 
     Tender results will be published on the HKMA’s website, the Government Bond Programme’s website, the Reuters screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3pm on the tender day.
 

HKSAR Government Institutional Bond Issuance Programme Tender Information
——————————————————————————————–

     Tender information of re-opening of 10-year Government Bonds under the Institutional Bond Issuance Programme:
 

Issue Number	:	10GB2301 (Re-open)
Stock code	:	4215 (HKGB 1.10 2301)
Tender Date and Time	:	November 28, 2018 (Wednesday)  9.30am to 10.30am
Issue and Settlement Date for tender amount	:	November 29, 2018 (Thursday)
Amount on Offer	:	HK$2.5 billion
Maturity	:	10 years
Remaining Maturity	:	Approximately 4.14 years
Maturity Date	:	January 17, 2023
Interest Rate	:	1.10 per cent p.a. payable semi-annually in arrears
Interest Payment Dates	:	January 17, 2019 July 17, 2019 January 17, 2020 July 17, 2020 January 18, 2021 July 19, 2021 January 17, 2022 July 18, 2022 January 17, 2023
Method of Tender	:	Competitive tender
Tender Amount	:	Each competitive tender must be for an amount of HK$50,000 or integral multiples thereof. Any tender applications for the Bonds must be submitted through a Primary Dealer on the current published list.   The accrued interest to be paid by successful bidders on the issue date (November 29, 2018) for the tender amount is HK$203.42 per minimum denomination of HK$50,000.   (The accrued interest to be paid for tender amount exceeding HK$50,000 may not be exactly equal to the figures calculated from the accrued interest per minimum denomination of HK$50,000 due to rounding).
Other details	:	Please see Information Memorandum available on the Government Bond Programme’s website at www.hkgb.gov.hk or approach Primary Dealers.
Expected commencement date of dealing on the Stock Exchange of Hong Kong Limited	:	The tender amount is fully fungible with the existing 10GB2301 (Stock code: 4215) listed on the Stock Exchange of Hong Kong.

 
Price/Yield Table of the re-opening Government Bonds at tender for reference* only:
 

Yield-to-Maturity	Price	Yield-to-Maturity	Price
1.183	99.68	2.183	95.79
1.233	99.48	2.233	95.60
1.283	99.28	2.283	95.41
1.333	99.08	2.333	95.22
1.383	98.89	2.383	95.03
1.433	98.69	2.433	94.85
1.483	98.49	2.483	94.66
1.533	98.30	2.533	94.47
1.583	98.10	2.583	94.29
1.633	97.91	2.633	94.10
1.683	97.71	2.683	93.92
1.733	97.52	2.733	93.73
1.783	97.32	2.783	93.55
1.833	97.13	2.833	93.36
1.883	96.94	2.883	93.18
1.933	96.74	2.933	93.00
1.983	96.55	2.983	92.81
2.033	96.36	3.033	92.63
2.083	96.17	3.083	92.45
2.133	95.98	3.133	92.27
2.183	95.79	3.183	92.09

 
* Disclaimer
 
The information provided here is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of, the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it. The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here. read more

     The Hong Kong Economic and Trade Office in Brussels (HKETO, Brussels) co-hosted three business seminars in Italy from November 14 to 16, as part of continuing efforts to reach out to Italian entrepreneurs and promote Hong Kong as an ideal business location and the gateway to Mainland China and the Belt and Road region including the Guangdong-Hong Kong-Macao Greater Bay Area.
      
     The seminars were held in two regions in the south of Italy, with events in Salerno in the region of Campania, and in Bari and Alberobello in the region of Puglia.
      
     The business seminar in Salerno on November 14 was organised by HKETO, Brussels in co-operation with Confindustria Salerno, while the events in Bari on November 15 and Alberobello on November 16 were organised in co-operation with the Italy Oriental Chamber of Commerce in Bari. All three business seminars were also supported by Invest Hong Kong and the Hong Kong Trade Development Council.
      
     The Deputy Representative of HKETO, Brussels, Miss Fiona Chau, told guests of the business seminars that underpinning Hong Kong’s long-term success are its fundamental strengths and the unique advantages under “one country, two systems”. These include the rule of law, free flow of capital and information, a business-friendly environment, a diverse and international talent pool, and a low and simple tax regime. Hong Kong has been named consistently as the world’s freest economy as well as the easiest place to do business.
      
     Miss Chau also outlined the active and important role played by Hong Kong in the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area development. Miss Chau emphasised that Hong Kong is the most trusted and resourceful partner for foreign companies to venture into the vast markets covered under the Belt and Road and the Greater Bay Area, and to grasp the bountiful new opportunities brought about by these new developments.
      
     The seminars also provided an occasion to promote Hong Kong’s Talent List and the career opportunities the city offers to professionals.

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

     In accordance with the Government’s policy objectives to further alleviate the financing burden of local enterprises and assist enterprises to obtain financing from lending institutions, the HKMC Insurance Limited earlier announced its proposal to adopt enhancement measures under the 80 per cent Guarantee Product of the SME Financing Guarantee Scheme (SFGS). These measures come into effect today (November 19), and will be valid until June 30 next year. Details of the measures are as follows:
 

1. further reducing the existing annual guarantee fee rates by 50 per cent;
2. increasing the maximum loan amount from HK$12 million to HK$15 million; and
3. lengthening the maximum loan guarantee period from five years to seven years.

 
     For public enquiries, please call the hotline of the SFGS (Tel: 2536 0392) or contact the participating lenders under the SFGS (www.hkmc.com.hk/eng/sfgs/participatinglenders). read more

The following is issued on behalf of the Hong Kong Housing Authority:
 
      The Hong Kong Housing Authority (HA)’s Commercial Properties Committee (CPC) today (November 19) approved mild adjustments to the monthly charges for private car (PC), motorcycle (MC), light goods vehicle (LGV) and coach/bus (C/B) parking spaces; the hourly charges for PC parking spaces; and the Day Pass and 24-hour Pass charges for PC parking spaces for 2019, while the existing hourly charges for MC and LGV parking spaces will remain unchanged.
 
      It is an established policy of the HA to charge fees at market level for its parking spaces. As market research indicates that the HA’s current monthly car park charges are generally below the average market level, the CPC endorsed a moderate increase in the monthly parking charges in 2019.
 
      The monthly charges will be slightly increased by around 6 per cent for PC parking spaces and by around 3 per cent for LGV and C/B parking spaces. For PCs, charges for Tier 1 fixed parking spaces will be increased from $1,550 – $2,730 to $1,640 – $2,890 for covered spaces and from $1,270 – $2,250 to $1,350 – $2,390 for open spaces. As for LGV parking spaces, the charges will be increased from $3,050 to $3,140 for covered spaces and from $2,350 to $2,420 for open spaces, while for C/B parking spaces, the monthly charges will be increased from $3,930 to $4,050 for covered spaces and from $2,930 to $3,020 for open spaces. Regarding monthly charges for MC parking spaces, there will be an increase from $520 to $560 for covered spaces and from $400 to $430 for open spaces.
 
      The research also indicated that the HA’s current hourly charges for PC parking spaces are generally below the current rates for most of the private sector car parks. To bring the charges comparable to the market level, the CPC approved to increase the hourly rates by $1 for PC parking spaces, and the Day Pass and 24-hour Pass charges by $5 for PC parking spaces for all regions.
 
      “The approved increases are moderate and the resultant car park charges will on average still be slightly below the level of the majority of car parks in comparable sectors,” a spokesman for the HA said.
 
      For the hourly charges for MC and LGV parking spaces, the research indicated that there were no significant adjustments in charges for the majority of private sector car parks and the HA’s current charges were in line with the market rates. The CPC therefore approved to maintain the existing charges.
  
      The HA’s monthly charges for PC parking spaces are subject to a three-tier charging system with different discounts based on occupancy rates (namely Tiers 1, 2 and 3 for occupancy rates at 90 per cent or above, 50 per cent to below 90 per cent, and below 50 per cent respectively). The tier adopted for the new charges in 2019 will be based on the occupancy rates from August to October 2018. The discounts for monthly charges for PC parking spaces at some car parks may be adjusted accordingly. If, subsequently, the occupancy rate falls to a lower tier for three consecutive months, the discount for the charges will be increased.
 
      To support the Government’s policy to promote wider use of electric vehicles (EVs), Members approved to continue to offer free parking for EVs during electricity charging at the hourly parking spaces up to a maximum of two hours, and to charge the utility companies a nominal licence fee of $1 per annum for their EV charging facilities installed at the HA’s car parks.
 
      The HA’s car park charges are reviewed annually and the approved charges will take effect from January 1 of the following year. The HA makes reference to the current market levels including the car park charges of other public bodies and comparable private sectors in determining its car park charges, with a view to bringing the charges within the market range. The HA had some 30 500 parking spaces in 157 car parks as at the end of September 2018. 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 Industrial and Commercial Bank of China (Asia… read more