Tag Archives: China

     The Director General of the Rescue and Salvage Bureau of the Ministry of Transport of the People’s Republic of China (CRS), Mr Wang Lei; the Director-General of Civil Aviation of Hong Kong, Mr Victor Liu; and the Chief Accident and Safety Investigator of the Air Accident Investigation Authority (AAIA) of Hong Kong, Mr Man Ka-chai, signed the new Tripartite Agreement on Search and Rescue and Salvage of Crashed Aircraft in Beijing today (August 12).

     In order to foster mutual collaboration on the search and rescue and salvage of crashed aircraft, the CRS and the Civil Aviation Department (CAD) signed the first agreement in 2016. Subsequent to the establishment of the AAIA with its new functions, the CRS, the CAD and the AAIA unanimously agreed to amend and update the agreement after tripartite deliberation.
 
     The new Tripartite Agreement will effectively strengthen co-operation on the search and rescue and salvage of crashed aircraft, enhancing the communication and technical information exchanges among the three parties. This will further improve the capability and effectiveness of the search and rescue and salvage of crashed aircraft within the Hong Kong Flight Information Region.

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

     The Hong Kong Monetary Authority (HKMA) announces that a tender of 2-year Exchange Fund Notes will be held on August 21, 2024 (Wednesday) for settlement on August 22, 2024 (Thursday), as set out in the published tentative issuance schedule.  This is to roll over an issue of 2-year Exchange Fund Notes maturing on the same day. 
      
     A total of HK$1,200 million 2-year Notes will be on offer, of which HK$5 million will be made available for offer to members of the public who wish to submit non-competitive tender bids through Hong Kong Securities Clearing Company Limited (HKSCC). If the Notes reserved for non-competitive tender are under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$1,195 million). The Notes will mature on August 24, 2026 and will carry interest at the rate of 2.77 per cent per annum payable semi-annually in arrears.
      
     Members of the public who wish to submit non-competitive tender applications for Notes that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold Investor Accounts of the Central Clearing and Settlement System (CCASS) at the HKSCC, directly through HKSCC, for submission to the HKMA for processing. Competitive tender applications for the Notes must be submitted through any of the Eligible Market Makers appointed by the HKMA, with the current published list available on the HKMA’s website at www.hkma.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.
      
     The tender results will be published on the HKMA’s website, the Refinitiv screen (HKMAOOE), and Bloomberg. Applicants who submitted non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants who hold Investor Accounts at HKSCC’s CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.
 
HKMA Exchange Fund Note Programme Tender Information
—————————————————————–

     Tender information of 2-Year Exchange Fund Notes:
 

Issue Number	:	02Y2608
Stock code	:	4100 (EFN 2.77 2608)
Tender date and time	:	Wednesday, August 21, 2024 9.30am to 10.30am
Issue and Settlement Date	:	Thursday, August 22, 2024
Amount on offer	:	HK$1,200 million (up to HK$5 million for non-competitive tender)
Commencement of/ Deadline for submission of non-competitive tender bids by retail investors through HKSCC	:	Please refer to requirements as set down by HKSCC
Maturity	:	Two years
Maturity Date	:	Monday, August 24, 2026
Interest Rate	:	2.77% p.a.
Interest Payment Dates	:	February 24, 2025 August 22, 2025 February 23, 2026 August 24, 2026
Tender amount	:	Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender. Members of the public who wish to apply for the Notes through non-competitive tenders that are open to HKSCC may do so through Stock Exchange Participants/ Brokers, or for those who hold Investors Accounts at HKSCC’s CCASS, directly through HKSCC. Members of the public who wish to apply for the Notes through competitive tender may only do so through any of the Eligible Market Makers on the current published list.
Other details	:	Please see Information Memorandum published or approach Eligible Market Makers, HKSCC, or brokers who are Exchange Participants of the Stock Exchange of Hong Kong.
Expected commencement date of dealing on the Stock Exchange of Hong Kong	:	Friday, August 23, 2024

 
     Price/Yield Table of the new EFN at tender for reference* only:
 

Yield-to- Maturity	Price	Yield-to-Maturity	Price
1.77	101.97	2.77	100.04
1.82	101.87	2.82	99.94
1.87	101.78	2.87	99.85
1.92	101.68	2.92	99.75
1.97	101.58	2.97	99.66
2.02	101.48	3.02	99.56
2.07	101.39	3.07	99.47
2.12	101.29	3.12	99.37
2.17	101.19	3.17	99.28
2.22	101.09	3.22	99.18
2.27	101.00	3.27	99.09
2.32	100.90	3.32	99.00
2.37	100.80	3.37	98.90
2.42	100.71	3.42	98.81
2.47	100.61	3.47	98.71
2.52	100.52	3.52	98.62
2.57	100.42	3.57	98.53
2.62	100.32	3.62	98.44
2.67	100.23	3.67	98.34
2.72	100.13	3.72	98.25
2.77	100.04	3.77	98.16

 
* 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 effective exchange rate index for the Hong Kong dollar on Monday, August 12, 2024 is 105.1 (up 0.1 against last Saturday’s index).

     The effective exchange rate index for the Hong Kong dollar on Saturday, August 10, 2024 was 105 (same as last Friday’s index). read more

     In response to the Japanese Government’s plan to discharge nuclear-contaminated water at the Fukushima Nuclear Power Station, the Director of Food and Environmental Hygiene issued a Food Safety Order which prohibits all aquatic products, sea salt and seaweeds originating from the 10 metropolis/prefectures, namely Tokyo, Fukushima, Ibaraki, Miyagi, Chiba, Gunma, Tochigi, Niigata, Nagano and Saitama, from being imported into and supplied in Hong Kong.
 
     For other Japanese aquatic products, sea salt and seaweeds that are not prohibited from being imported into Hong Kong, the Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department will conduct comprehensive radiological tests to verify that the radiation levels of these products do not exceed the guideline levels before they are allowed to be supplied in the market.
 
     As the discharge of nuclear-contaminated water is unprecedented and will continue for 30 years or more, the Government will closely monitor and step up the testing arrangements. Should anomalies be detected, the Government does not preclude further tightening the scope of the import ban.
 
     From noon on August 9 to noon today (August 12), the CFS conducted tests on the radiological levels of 339 food samples imported from Japan, which were of the “aquatic and related products, seaweeds and sea salt” category, in the past three days (including last Saturday and Sunday). No sample was found to have exceeded the safety limit. Details can be found on the CFS’s thematic website titled “Control Measures on Foods Imported from Japan” (www.cfs.gov.hk/english/programme/programme_rafs/programme_rafs_fc_01_30_Nuclear_Event_and_Food_Safety.html).
 
     In parallel, the Agriculture, Fisheries and Conservation Department (AFCD) has also tested 150 samples of local catch for radiological levels. All the samples passed the tests. Details can be found on the AFCD’s website (www.afcd.gov.hk/english/fisheries/Radiological_testing/Radiological_Test.html).
 
     The Hong Kong Observatory (HKO) has also enhanced the environmental monitoring of the local waters. No anomaly has been detected so far. For details, please refer to the HKO’s website
(www.hko.gov.hk/en/radiation/monitoring/seawater.html).
 
     From August 24 to noon today, the CFS and the AFCD have conducted tests on the radiological levels of 75 564 samples of food imported from Japan (including 48 753 samples of aquatic and related products, seaweeds and sea salt) and 17 598 samples of local catch respectively. All the samples passed the tests. read more

     Hong Kong Customs on July 31 detected a suspected case of using an ocean-going vessel to smuggle goods to Malaysia at the Kwai Chung Container Terminals. A large batch of suspected smuggled electronic components with an estimated market value of about $37 million was seized.
      
     Through intelligence analysis and risk assessment, Customs discovered that criminals intended to use ocean-going vessels to smuggle goods and thus formulated strategies to combat related activities.
      
     On July 31, Customs officers identified an ocean-going vessel preparing to depart from Hong Kong for Malaysia for inspection and seized a large batch of suspected smuggled goods, including integrated circuits, motherboards, capacitors, and routers, inside a container which was declared as containing aluminium alloys aboard the vessel.
      
     An investigation is ongoing. The likelihood of arrests is not ruled out.
      
     Customs is the primary agency responsible for tackling smuggling activities and has long been combating various smuggling activities at the forefront. Customs will keep up its enforcement action and continue to fiercely combat sea smuggling activities through proactive risk management and intelligence-based enforcement strategies, and carry out targeted anti-smuggling operations at suitable times to crack down on related crimes.
      
     Smuggling is a serious offence. Under the Import and Export Ordinance, any person found guilty of importing or exporting unmanifested cargo is liable to a maximum fine of $2 million and imprisonment for seven years upon conviction.
      
     Members of the public may report any suspected smuggling activities to Customs’ 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

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