Tag Archives: China

     Hong Kong Customs will set up a booth at the Hong Kong Watch & Clock Fair (HKWCF), to be held at the Hong Kong Convention and Exhibition Centre (HKCEC), from tomorrow (September 5) for five consecutive days to publicise the Dealers in Precious Metals and Stones Regulatory Regime, and will provide on-site counter services to assist non-Hong Kong dealers in submitting a cash transaction report during their participation in the fair.

     According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Regime has come into effect since April 1 this year, and covers any watch that is made up of, containing or having attached to it any precious metal or precious stone. Local precious metals and stones dealers are required to apply for registration between April and December this year in order to carry out transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000. They are also required to fulfil their anti-money laundering and counter-terrorist financing obligations as appropriate.

     For non-Hong Kong dealers fulfilling the prescribed conditions (including those who come to Hong Kong to participate in exhibitions), although they are exempt from registration, they are required to submit to Hong Kong Customs a cash transaction report for any cash transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 carried out in Hong Kong within one day after the transaction, or before the dealer or the person acting on behalf of the dealer leaves Hong Kong, whichever is earlier.

     Non-Hong Kong dealers can make an online submission of a cash transaction report via the Regime’s webpage at www.drs.customs.gov.hk by accessing the Dealers in Precious Metals and Stones Registration System. They can also download the related form at www.drs.customs.gov.hk/download/drsform/CED418_Form%208_Cash%20transaction%20report.pdf and then submit the report in person at Hong Kong Customs’ booth at the HKWCF.  

     Hong Kong Customs’ booth (Booth 1E-C24) is located at HKCEC Hall 1E and will be open from 10am to 6.30pm between September 5 and 8, and from 10am to 5.30pm on September 9.

     Dealers can visit the website (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html) for more information about the Regime. 

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     The Centre for Health Protection (CHP) of the Department of Health is today (September 4) investigating a case of severe paediatric influenza A infection and reminded the community to heighten vigilance against influenza.

     The case involves a 9-year-old girl with good past health. She has presented with a fever, cough and vomiting since September 2, and attended the Accident and Emergency Department of Prince of Wales Hospital the next day (September 3) due to worsening symptoms. She was admitted for treatment on the same day. Her respiratory specimen was positive for influenza A (H3) virus upon laboratory testing. The clinical diagnosis was influenza A infection complicated with shock. Her condition improved after treatment and she is now in stable condition.

     Initial enquiries by the CHP revealed that the patient had no travel history during the incubation period. Three of her home contacts presented with respiratory symptoms. The CHP’s investigations are ongoing.

     A spokesman for the CHP stated that the public should maintain good personal and environmental hygiene against influenza and other respiratory illnesses and note the following:
 

• Surgical masks can prevent transmission of respiratory viruses from ill persons. It is essential for persons who are symptomatic (even if having mild symptoms) to wear a surgical mask;
• For high-risk persons (e.g. persons with underlying medical conditions or persons who are immunocompromised), wear a surgical mask when taking public transport or staying in crowded places. It is important to wear a mask properly, including performing hand hygiene before wearing and after removing a mask;
• Avoid touching one’s eyes, mouth and nose;
• Wash hands with liquid soap and water properly whenever possibly contaminated;
• When hands are not visibly soiled, clean them with 70 to 80 per cent alcohol-based handrub;
• Cover the mouth and nose with tissue paper when sneezing or coughing. Dispose of soiled tissue paper properly into a lidded rubbish bin, and wash hands thoroughly afterwards;
• Maintain good indoor ventilation;
• When having respiratory symptoms, wear a surgical mask, refrain from work or attending classes at school, avoid going to crowded places and seek medical advice promptly; and
• Maintain a balanced diet, perform physical activity regularly, take adequate rest, do not smoke and avoid overstress.

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     â€‹The public may visit the CHP’s influenza page and weekly COVID-19 & Flu Express for more information. read more

     A money changer and its female shopkeeper were convicted of operating a money service without a valid licence at Fanling Magistrates’ Courts today (September 4) and were fined a total of $120,000, which is a record high among cases of unlicensed money service operation.

     Customs officers in July last year conducted an investigation and discovered that a female shopkeeper of a money changer in Sheung Shui had been operating a remittance business before being granted a Money Service Operator licence. Therefore, the money changer and the female shopkeeper were suspected of operating a money service without a licence.

     Customs reckons that the record-breaking fine has achieved a deterrent effect, with a clear warning issued to unlicensed money service operators. 

     Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, a person who wishes to operate a remittance or money changing service needs to first obtain a licence from the Customs and Excise Department. The maximum penalty for such operators without a valid licence upon conviction is a fine of $1 million and imprisonment for two years.

     Customs reminds consumers to procure services from licensed money service operators. A register of licensees is accessible from the website of Customs’ Money Service Operators Licensing System at eservices.customs.gov.hk/MSOS/wsrh/001s1?request_locale=en.

     Members of the public may report any suspected unlicensed money service operation 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/). read more

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Treasury Markets Summit 2023, jointly organised by the Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA), was held today (September 4) in Hong Kong. 
      
     In his keynote address, the Chief Executive of the HKMA and the Honorary President of the TMA Council, Mr Eddie Yue, highlighted Hong Kong’s treasury market development in the past year. He also elaborated on the ongoing efforts and opportunities ahead to enhancing Hong Kong’s position as an international financial centre.  
      
     The Summit’s panels covered three important topics, namely offshore Renminbi development opportunities, global economic outlook in a new era, and stablecoins. The panels were moderated respectively by Deputy Chief Executive of the HKMA and the Chair of the TMA Executive Board, Mr Darryl Chan, the Chief Executive Officer of the TMA, Mr Chordio Chan, and the Head of Digital Finance of the HKMA, Mr Ernest Ho, and joined by distinguished guest speakers from the financial industry and relevant sectors.
      
     The Summit was attended by over 350 local and overseas participants, including representatives from regulatory authorities, treasury market practitioners, asset managers as well as senior executives and professionals from banks, other financial institutions and corporates.

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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 Airstar Bank Limited relating to phishing instant messages, which have been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.
      
     The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
      
     Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the instant messages concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012. read more