Tag Archives: China

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

     The Governor of the People’s Bank of China (PBoC), Mr Yi Gang, and the Chief Executive of the Hong Kong Monetary Authority (HKMA), Mr Norman Chan, signed a “Memorandum of Co-operation on Using Central Moneymarkets Unit for Issuance of PBoC Bills” today (September 20), for the tendering and issuance of PBoC bills through CMU BID, the HKMA’s Central Moneymarkets Unit’s (CMU) bond tendering platform. The details of the issuance will be separately announced. The issuance of PBoC bills in Hong Kong aims to enrich the spectrum of renminbi financial products of high credit rating in Hong Kong, improve the yield curve of renminbi bonds in Hong Kong, and support the development of offshore renminbi business in Hong Kong.
 
     Mr Chan said, “All along there has been strong demand for high quality and liquid renminbi assets in the offshore market. Following the annual issuance of sovereign bonds by the Ministry of Finance, PBoC bills may further satisfy demand in this aspect, especially the demand for debt instruments of a shorter tenor. Furthermore, this will improve the yield curve in the offshore market, provide a better foundation for financial institutions to develop renminbi products, and offer more renminbi liquidity management tools for financial institutions. The issuance of PBoC bills in Hong Kong will also reinforce Hong Kong’s position as the global hub for offshore renminbi business. ” 
 
     The CMU is operated by the HKMA. It serves as a platform for tendering, clearing and settlement of bonds. Since 2010, the Ministry of Finance has used the CMU bond tendering platform to tender for offshore renminbi sovereign bonds every year.  read more

     The Centre for Health Protection (CHP) of the Department of Health is today (September 20) investigating two suspected food poisoning cases affecting three persons, and reminded the public to maintain personal, food and environmenta… read more

     The Customs and Excise Department (C&ED) signed Memorandums of Understanding (MoUs) with six Hong Kong container terminal operators (CTOs) today (September 20) at the Customs Headquarters Building. Laying down various co-operative arrangements for sea cargo customs clearance, including the liaison mechanism, cargo detention notification and case reporting, the MoUs underpin a closer collaboration between the department and the CTOs.

     Speaking at the ceremony, the Assistant Commissioner of Customs and Excise (Boundary and Ports), Ms Louise Ho, noted that the department values its co-operation with the CTOs, adding that both parties have all along been working closely and pragmatically to handle issues relating to sea cargo customs clearance.

     “Upholding the principles of gate-guarding and trade facilitation, the MoUs manifest the sincere partnership between the two sides, enhance cargo clearance efficiency and ensure effective law enforcement,” Ms Ho said.

     “By setting out clearly the signatories’ roles and obligations, partnership will become smooth and a sound foundation for exploring of other co-operative arrangements in the future is also laid.”

     Following are the six CTOs which signed MoUs with the C&ED today:
 

1. Asia Container Terminals Limited
2. COSCO-HIT Terminals (Hong Kong) Limited
3. CSX World Terminals Hong Kong Limited
4. Hongkong International Terminals Limited
5. Modern Terminals Limited
6. River Trade Terminal Company Limited

     On the same occasion, the C&ED also held an annual award presentation ceremony for the Sea Cargo Pre-shipment Declaration Scheme. A total of 50 sea cargo carriers/companies were awarded for their active participation in the Scheme.

     The department has implemented various schemes, including the EMAN Statement One Submission Scheme and the Advance Cargo Information – River Trade Vessel Scheme, to promote voluntary submission of sea cargo data since 2009. Under these schemes, carriers and cargo agents can submit advance cargo information to the C&ED prior to vessel arrival. Apart from expediting the cargo clearance process, these schemes also pave the way for the mandatory submission of advance cargo information under the Trade Single Window which will be implemented in the future. read more

     The Transport Department (TD) today (September 20) reminded the public that to facilitate tram track renewal work at Des Voeux Road Central, parts of the traffic lane of Pedder Street will be temporarily closed from about 10am this Saturday (September 22) to 6am next Monday (September 24).

     Appropriate traffic signs will be erected on-site to guide motorists.

     The TD anticipates that the traffic in the vicinity of the above road sections will be relatively busy. Motorists should exercise tolerance and patience in case of traffic congestion. Members of the public are advised to stay alert to the latest traffic news through the media or the department’s website (www.td.gov.hk). read more

     The Secretary for Commerce and Economic Development, Mr Edward Yau, visited Tsuen Wan District today (September 20) to get a better grasp of the district’s latest developments. He met with members of the Tsuen Wan District Council (TWDC) and visited the Sam Tung Uk Museum, the Hong Kong Intangible Cultural Heritage Centre and a co-working space.

     Mr Yau first met with TWDC members to exchange views on developments and issues of concern in the district, including matters relating to telecommunications, broadcasting and tourism development.

     Mr Yau then proceeded to visit the Sam Tung Uk Museum. He toured the exhibition and learnt about the architectural layout of the village and its unique living spaces. Sam Tung Uk is a 200-year-old Hakka walled village declared a historical monument and converted into the Sam Tung Uk Museum after restoration. Visitors can know more about the unique culture of walled villages.

     Mr Yau also took the chance to pay a visit to the Hong Kong Intangible Cultural Heritage Centre, which was set up at the Sam Tung Uk Museum by the Intangible Cultural Heritage Office. He was briefed on how the Centre enhances the public’s understanding and awareness of Hong Kong’s intangible cultural heritage through various educational and promotional activities.

     Mr Yau rounded off the district visit by meeting with young entrepreneurs at Smart-Space 8, a co-working space, to get to know their experiences in starting up businesses. Smart-Space 8 is a co-working space under the Space Sharing Scheme for Youth (SSSY) to support start-ups in emerging industries and young people who are starting their own businesses. The scheme provides supporting services including entrepreneurial training to help young entrepreneurs to make their dreams come true.

     Mr Yau said the SSSY is premised upon tripartite collaboration among the business sector, non-government organisations and the Government. The scheme provides practical support in terms of innovation and entrepreneurship under which young people pursuing careers in innovation and technology, creative industries, arts and culture can rent co-working spaces or studios with a lower-than-market price. He expressed the hope that more enterprises will join the scheme, thereby nurturing more local creative talent and driving the development of start-ups.

read more