​Two annual marine pollution response joint exercises, code-named Oilex 2018 and the Maritime Hazardous and Noxious Substances (HNS) Exercise 2018, were conducted by various government departments this morning (November … read more
Yee Chung Logistic Company Limited and Hung Hing Electronic Commerce Limited illegally imported and stored waste printed circuit boards (PCBs), which are classified as chemical waste, respectively. They were convicted and fined a total of $71,500 at Fanling Magistrates’ Courts today (November 6) for contravening the Waste Disposal Ordinance (WDO) and the Waste Disposal (Chemical Waste) (General) Regulation.
A spokesman for the Environmental Protection Department (EPD) said that during a blitz operation this April, EPD officers raided a recycling site at Shek Wu Wai in Yuen Long which illegally stored waste PCBs. The waste PCBs, which are classified as chemical waste, were placed at the open space of the recycling site with a total weight of about 6 tonnes and an estimated total export value of $600,000. Following the clues obtained from the investigation, EPD found that the importer concerned illegally imported the chemical waste from Korea into Hong Kong without a permit. The importer also transported the chemical waste without a waste collector licence. The EPD subsequently prosecuted the importer, Yee Chung Logistic Company Limited, and the recycler, Hung Hing Electronic Commerce Limited, in accordance with the WDO and the Regulation after evidence gathering.
The spokesman stressed that dismantled PCBs, LCD monitors and cathode ray tubes are hazardous e-waste, containing heavy metals and other toxic substances. They are classified as chemical waste and must be properly handled. Otherwise, it will pollute the environment and pose a risk to the health of relevant trade practitioners and the general public. The EPD will continue to combat illegal collection, storage, handling or import of hazardous e-waste. First-time offenders are liable to a maximum fine of $200,000 and six months’ imprisonment. For subsequent offences, offenders are liable to a maximum fine of $500,000 and two years’ imprisonment.
Members of the public may visit the EPD’s website for more information about the control of chemical waste: www.epd.gov.hk/epd/english/environmentinhk/waste/guide_ref/guide_cwc.html.
The following is issued on behalf of the Hospital Authority: Regarding an earlier announcement on a cluster of patients infected with Parainfluenza Virus Type 3 in a female ward for severe intellectual disability, the spokes… read more
​A recycler and a construction worker illegally disposed of commercial and industrial (C&I) waste and construction waste on Chun Pin Street and at the roadside of Castle Peak Road in Kwai Chung. They were fined a total of $9,500 by Fanling Magistrates’ Courts today (November 6) for contravening the Waste Disposal Ordinance (WDO).
An Environmental Protection Department (EPD) spokesman said that that during a blitz operation in mid-April this year, a staff member of a recycling company was caught by the EPD while depositing a stack of waste wooden pallets on the pavement of Chun Pin Street. EPD officers immediately intercepted him and prosecuted the manager of the recycling company.
Separately, the EPD received a report from a member of public in late April this year that a large quantity of construction waste was deposited on the pavement of Castle Peak Road in Kwai Chung (near Po Kai Mansion). After investigation, the EPD confirmed that the construction waste came from the construction site of a nearby building. After evidence gathering, the EPD prosecuted the construction worker responsible.
The EPD spokesperson reminded those from the recycling, renovation and construction sectors that C&I waste as well as demolished construction waste should be delivered to the Government’s waste treatment facilities as required by the law. It is unethical and unlawful to dispose of waste in public places and on the roadside. Under the WDO, first-time offenders are liable to a maximum fine of $200,000 and six months’ imprisonment.
Hong Kong Fintech Week came to an end on Friday (November 2) in Shenzhen, reflecting the key cross-border theme of the programme. The five-day event was packed with important announcements, presentations and panel sessions covering all key aspects of financial technology (fintech), and involved experts from around the globe and some of the world’s biggest fintech companies. It all combined to set Hong Kong apart as a fintech leader in Asia.
Presented by Invest Hong Kong (InvestHK), Fintech Week drew more than 8,000 attendees from over 50 economies, more than 260 world-class speakers, 100 exhibitors, 60 start-ups and 1,000-plus business matching meetings. There were plentiful side events, including visits to innovation labs and education events organised by universities. The Week was truly global, featuring international pavilions hosted by Hong Kong, Ireland, Israel and the UK, and with trade delegations from Japan, Mainland China, Singapore, Korea, Spain, Switzerland and the US. The energy and the exchanges during the Week were unparalleled.
The event has grown substantially larger in terms of attendance, exhibitors and venue size. The high-quality content and networking opportunities captured the attendees’ imagination in the first two days with FinovateAsia and then in days three to five with the main conference programme organised by Finnovasia. On Friday in Shenzhen, delegates attended a short seminar cum luncheon with local business and government officials, plus fintech company visits to Tencent, WeBank and ZhongAn.
The Government’s strong backing for the fintech sector and the Week was evident in a keynote speech by the Financial Secretary, Mr Paul Chan. He highlighted the rapid growth of Hong Kong’s fintech sector, including some of the very recent developments, reinforcing the message behind InvestHK’s new tagline for Fintech HK: “Launch, Leap, Lead”.
There were more than 300 reporter visits to Fintech Week over the five-day period, and journalists were provided with plenty of news and fresh information to write about. The news began to flow Tuesday evening at the Fintech Week launch event hosted at the Hong Kong Stock Exchange (HKEX). The Chief Executive of the HKEX, Mr Charles Li, announced that the HKEX will be working with Digital Asset to “introduce the first blockchain platform in the financial services industry in Hong Kong”. He said this will initially be for Stock Connect, or Blockchain Connect, adding, “If it works with Stock Connect, there’s no reason why we can’t extend it to the broader market.”
Wednesday and Thursday provided more for the regulatory connoisseur. The Hong Kong Monetary Authority (HKMA) held a ceremony on Wednesday to launch eTradeConnect, the HKMA’s blockchain trade finance platform, with the 18 companies involved.
On Thursday, after a keynote speech by the Chief Executive Officer of the Securities and Futures Commission (SFC), Mr Ashley Alder, in which he gave context for an important forthcoming SFC announcement on cryptocurrencies, the announcement followed. The SFC Regulatory Sandbox will be used to monitor the activities of virtual asset exchanges, with a view to setting up a framework for potential regulation and licensing. He added that the SFC will be announcing a regulatory framework for robo-advisory in April next year.
Later on Thursday, 19 companies from nine markets pitched to a panel and an audience in the Fast Track Demo Show, a new initiative of InvestHK and Finnovasia to attract and assist overseas business setting up in Hong Kong. The five winners, AIZEN (Korea), SoCash (Singapore), BluefireAI (Hong Kong), AAAccell (Switzerland) and BeamAndGo (Singapore), took home prizes sponsored by the 14 Fast Track Partners. The Partners were also on-site to provide expert advice and consultancy.
In this third year, Fintech Week was the world’s first cross-border fintech event, with events held in Shenzhen. It showcased Hong Kong in the context of the many opportunities that exist in the Guangdong-Hong Kong-Macao Greater Bay Area, with its population of 70 million. The Secretary for Financial Services and the Treasury, Mr James Lau, highlighted the key areas for collaboration between Hong Kong and Shenzhen in fintech as well as in promoting innovation and technology.
Behind the scenes and away from the stages, meetings and deals were done, with more announcements made. For further highlights of the Hong Kong Fintech Week, go to www.fintechweek.hk.
About InvestHK
InvestHK is the Hong Kong Special Administrative Region Government department responsible for foreign direct investment. It has set up a dedicated fintech team in Hong Kong with correspondents located in London and San Francisco. It aims at attracting the world’s top innovative fintech enterprises, start-up entrepreneurs, investors and other stakeholders to expand and scale their business via Hong Kong to the Mainland of China, Asia and beyond.
