Tag Archives: China

image_pdfimage_print

Result of tenders of RMB Sovereign Bonds held on August 14, 2024

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

     Result of the tenders of RMB Sovereign Bonds held on August 14, 2024:
 

Tender Result
*********************************************************************
Tender Date : August 14, 2024
Bonds available for Tender : 2-year RMB Bonds
Issuer : The Ministry of Finance of the People’s Republic of China
Issue Number : BCMKFB24001 (Further Issuance)
Issue and Settlement Date : August 16, 2024
Maturity Date : March 15, 2026 (or the closest coupon payment date)
Coupon Rate : 2.20 per cent
Application Amount : RMB 10,458 million
Issue Amount : RMB 3,000 million
Average Accepted Price : 100.43
Lowest Accepted Price : 100.39
Highest Accepted Price : 100.78
Allocation Ratio (At Lowest Accepted Price) : Approximately 53.85 per cent
 
*********************************************************************
Tender Date : August 14, 2024
Bonds available for Tender : 3-year RMB Bonds
Issuer : The Ministry of Finance of the People’s Republic of China
Issue Number : BCMKFB24002 (Further Issuance)
Issue and Settlement Date : August 16, 2024
Maturity Date : March 15, 2027 (or the closest coupon payment date)
Coupon Rate : 2.28 per cent
Application Amount : RMB 10,889 million
Issue Amount : RMB 3,000 million
Average Accepted Price : 100.75
Lowest Accepted Price : 100.70
Highest Accepted Price : 101.33
Allocation Ratio (At Lowest Accepted Price) : Approximately 92.95 per cent
 
*********************************************************************
Tender Date : August 14, 2024
Bonds available for Tender : 10-year RMB Bonds
Issuer : The Ministry of Finance of the People’s Republic of China
Issue Number : BCMKFB24004 (Further Issuance)
Issue and Settlement Date : August 16, 2024
Maturity Date : March 15, 2034 (or the closest coupon payment date)
Coupon Rate : 2.45 per cent
Application Amount : RMB 9,009 million
Issue Amount : RMB 3,000 million
Average Accepted Price : 100.99
Lowest Accepted Price : 100.60
Highest Accepted Price : 104.80
Allocation Ratio (At Lowest Accepted Price) : Approximately 89.26 per cent
read more

Territory-wide flag day today

     Po Leung Kuk has been issued a Public Subscription Permit to hold a territory-wide flag sale from 7am to 12.30pm today (August 14), a spokesman for the Social Welfare Department (SWD) said.
      
     Details of the charitable fund-raising activities, including any updated information, covered by the issued Public Subscription Permits have been published on the GovHK website (www.gov.hk/en/theme/fundraising/search). Permits for flag days containing information on contact methods of the flag-selling organisations and the approved flag-selling activities have also been uploaded to the SWD’s website (www.swd.gov.hk/en/ngo/controlofc/flagdays) for reference. For enquiries, please call the SWD’s hotline at 2343 2255, or the designated hotline of the 1823 Call Centre at 3142 2678.
      
     In the case of suspected fraudulent flag day activities, people should not make any donation and should immediately report the matter to the Police, the spokesman added. read more

Government deeply concerned about suspected online resale of public hospital patients’ medicines

     The Government yesterday (August 13) expressed grave concern over the suspected resale of public hospital patients’ medicines on an online platform and will deal with the incident seriously. The Government reiterated that the Department of Health (DH) has an established mechanism to monitor the sale of health and pharmaceutical products in the Hong Kong market, including those through the Internet. The DH is liaising with the Hospital Authority to seriously investigate into the alleged case and shall take prompt enforcement action as appropriate.

     According to the preliminary understanding, the incident involved a pharmaceutical product, Lactulose. It does not contain any substance listed in the Poisons List of the Pharmacy and Poisons Regulations (Cap. 138A) and is a type of “non-poison” medicine which does not require a prescription nor under the supervision of pharmacist for sale.

     According to the Pharmacy and Poisons Ordinance (Cap. 138) (the Ordinance), any products falling within the definition of “pharmaceutical products” must satisfy the criteria of safety, efficacy and quality, and must be registered with the Pharmacy and Poisons Board of Hong Kong before they can be sold or distributed in Hong Kong. If a product fails to compile with relevant statutory requirements (such as being unregistered, or found to have quality defects or adulterated with harmful substances), the DH will investigate and make public announcement as soon as possible to safeguard public health. In addition, if the concerned medicines are also classified as Part 1 poisons under the Ordinance, the medicines should only be sold by pharmacies and under the supervision of registered pharmacists. Illegal sale or possession of unregistered pharmaceutical products or Part 1 poisons are criminal offences under the Ordinance, which upon conviction, are subject to a penalty of a fine up to HK$100,000 and an imprisonment of two years.

     If the DH detects any suspected illegal sale or possession of pharmaceutical products, the DH will promptly investigate, and, if necessary, conduct joint operations with other law enforcement agencies, and any irregularities so found will be dealt with in accordance with the law. For this specific case, the DH will investigate along the line of illegal sale of unregistered pharmaceutical products. In the past five years (from 2020 to June 2024), the Drug Office of the DH handled 209 conviction cases involving illegal sale or possession of unregistered pharmaceutical products or Part 1 poisons, with the highest penalty of an imprisonment of 10 months or a fine of up to HK$100,000.  

     â€‹The DH has been reminding the public, through publicity and education including various online materials such as “General Knowledge on the Use of Medicines” and “Be Cautious when Buying Medicines on Internet“, to refrain from purchasing or using products with unknown or dubious ingredients, or from unknown sources, for protection of public health. read more

Hospital Authority concerned about incident of suspected sale of public hospital patient drugs on online shopping platform

The following is issued on behalf of the Hospital Authority:

     The spokesperson for the Hospital Authority (HA) made the following statement today (August 13) regarding a suspected incident of selling public hospital patient drugs on an online shopping platform:
 
     The HA is very concerned about a suspected incident of selling public hospital patient drugs on an online shopping platform. The HA has initiated an investigation. If any illegal activity is found to be involved, the HA will pursue the matter seriously and report it to law enforcement agencies for further investigation.
 
     The HA traced the source of the drug based on the online pictures and believed that the drug was prescribed by a doctor upon the discharge of a patient who was admitted to Hong Kong Buddhist Hospital in 2023. The HA has contacted the patient concerned to follow up on the incident.
 
     The HA reminds members of the public that anyone who attempts to obtain drugs through improper means may be breaking the law. The spokesperson for the HA said, “The public should not buy drugs from unknown sources. Apart from the possibility of violating the law, the quality of the drugs is not guaranteed and may have adverse health effects.”
 
     The spokesperson said that the HA has strict procedures to handle and dispose of unused drugs, including those that have expired or have not been collected by patients, to prevent the relevant drugs from being used inappropriately. The drugs will be properly managed, and the storage records and distribution procedures are clear and certain. If anyone deliberately resells patients’ drugs for profit, the HA will condemn such activities and take corresponding follow-up actions. The HA urges merchants selling drugs not to sell drugs from unknown sources. If there is any doubt about the source of drugs, they should report to relevant law enforcement and regulatory authorities.
     
     The HA has always attached great importance to drug prescription arrangements and will continue to review and optimise relevant arrangements, including charging arrangements, to achieve the goals of reducing waste and rationalisation of resources. read more