Tag Archives: China

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Government of the Hong Kong Special Administrative Region of the People’s Republic of China (the HKSAR Government) today (June 1) announced the successful offering of close to US$6 billion worth of green bonds (the Green Bonds), denominated in US dollars (USD), euro (EUR) and Renminbi (RMB), under the Government Green Bond Programme.
      
     Following a virtual roadshow on May 30, 2023, the Rule 144A / Reg S USD, and Reg S EUR and RMB multi-tranche Green Bonds were priced competitively on May 31, 2023 as follows:
 

• US$500 million 3-year tranche at 4.341 per cent;
• US$750 million 5-year tranche at 4.096 per cent;
• US$1 billion 10-year tranche at 4.041 per cent;
• EUR750 million 4-year tranche at 3.406 per cent;
• EUR750 million 9-year tranche at 3.847 per cent;
• RMB6 billion 2-year tranche at 2.700 per cent;
• RMB6 billion 5-year tranche at 2.950 per cent; and
• RMB3 billion 10-year tranche at 3.300 per cent.

 
     The offering included different types of currencies and tenors, which continued to attract a wide spectrum of investors and was well received, with close to US$30 billion equivalent in orders. In particular, the RMB tranches were expanded from a combined RMB10 billion from the January 2023 issuance to RMB15 billion this time, with the additional issuance of a new 10-year RMB tranche. 
      
     The Financial Secretary, Mr Paul Chan, said, “The enthusiasm for Hong Kong green bonds from global investors demonstrates their recognition of Hong Kong’s efforts in green and sustainable development. The offering has included our first 10-year RMB green bond, which helps to extend the offshore RMB yield curve and continues to enrich offshore RMB product offerings, promoting RMB internationalisation in an orderly manner. We will continue to regularly issue green bonds to promote innovation and further development of the market.”
      
     The Green Bonds are being issued under the Global Medium Term Note Programme dedicated to green bond issuances established in early 2021. The Green Bonds are expected to be settled on June 7, 2023 and listed on the Hong Kong Stock Exchange and the London Stock Exchange. The Green Bonds have been assigned credit ratings of AA+ by S&P Global Ratings and AA- by Fitch.
      
     The Hong Kong Monetary Authority acted as the HKSAR Government’s representative in this green bond offering. Proceeds raised will be credited to the Capital Works Reserve Fund to finance or refinance projects that provide environmental benefits and support the sustainable development of Hong Kong.
      
     The HKSAR Government published its Green Bond Framework (the Framework) in March 2019, which sets out how green bond proceeds will be used to fund projects that will improve the environment and facilitate the transition to a low carbon economy. The Framework was subsequently updated in February 2022, reflecting the Government’s latest climate commitments and strategy and aligning with the latest international standards and practices in the green bond market. Vigeo Eiris, which is now part of Moody’s ESG Solutions, has provided a Second Party Opinion for both the original and updated Green Bond Framework. The Green Bonds have also received the Green and Sustainable Finance Certificate (Pre-issuance Stage) from the Hong Kong Quality Assurance Agency. The HKSAR Government has since published three annual reports on the allocation of the proceeds from previous green bond issuances and the expected environmental benefits of the projects financed.
      
     Crédit Agricole CIB and HSBC acted as Joint Global Coordinators, Joint Lead Managers, Joint Bookrunners and Joint Green Structuring Banks for all tranches. For the USD and EUR tranches, Citigroup and J.P. Morgan acted as Joint Global Coordinators, and together with BNP PARIBAS, BofA Securities, Morgan Stanley and UBS acted as Joint Lead Managers and Joint Bookrunners.  Mizuho acted as Joint Lead Manager and Joint Bookrunner for the USD tranches. For the RMB tranches, Bank of China (Hong Kong) and ICBC (Asia) acted as Joint Global Coordinators, and together with Bank of Communications and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners.

Investors’ Distribution by Category
 

Category	USD Green Bonds	EUR Green Bonds	RMB Green Bonds
Banks	39%	43%	74%
Central banks, sovereign wealth funds and international organisations	20%	26%	14%
Fund managers, private banks, insurance companies and others	41%	31%	12%

DISCLAIMER:
 
     NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION OR DISSEMINATION WOULD BE PROHIBITED BY APPLICABLE LAW.
 
     THIS ANNOUNCEMENT IS NOT MADE BEING MADE AVAILABLE IN, AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION OR DISSEMINATION WOULD BE PROHIBITED BY APPLICABLE LAW.

     THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED, AND SHOULD NOT BE CONSTRUED, AS AN OFFER OF, OR A SOLICITATION OF AN OFFER TO BUY, SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.

     â€‹THE SECURITIES DESCRIBED HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE LAWS OF ANY STATE OF THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN COMPLIANCE WITH ALL APPLICABLE STATE LAWS. THERE WILL BE NO PUBLIC OFFERING OF SUCH SECURITIES IN THE UNITED STATES. read more

     â€‹The Secretary for Housing, Ms Winnie Ho, continued her visit in Beijing today (June 1). 

     She called on the National Development and Reform Commission (NDRC) and met with the Deputy Director-General of the International Cooperation Department and Director General of International Affairs Department, Office of the Leading Group for Promoting the Belt and Road Initiative, Mr Pan Jiang, in the morning to learn about the NDRC’s work in national economic development. Ms Ho stated that she will lead the Housing Bureau to strengthen connections with the Mainland, grasp the opportunities brought about by the development of the Guangdong-Hong Kong-Macao Greater Bay Area, take part in the Belt and Road Initiative, and actively play a bridging role to better integrate into the national development. 

     Ms Ho also met with the President of the China Academy of Urban Planning and Design, Mr Wang Kai, to learn about the academy’s work in promoting urban policy formulation. The academy collects various types of data through the national urban-rural information platform to analyse the development dimensions of different regions. Moreover, they exchanged ideas on land use, housing planning and community development. Ms Ho also shared the work in public housing management and building housing ladder in Hong Kong.

     Ms Ho later visited a state-owned enterprise, namely the Beijing Public Housing Center (BPHC), and toured its indemnificatory housing projects, including restaurants and other shared facilities within the projects. She also talked with residents to understand their daily lives. Furthermore, Ms Ho attended a seminar organised by the Beijing Municipal Commission of Housing and Urban-Rural Development and the BPHC to exchange insights.

     Ms Ho and the team will meet with leaders of the Beijing Municipal Government tomorrow (June 2) to explore the development of various rental housings in Beijing Municipality, and exchange views on enhancing housing policies and issues. They will also tour the Beixiaoyuan in Tongzhou District.

     Ms Ho will conclude her visit in Beijing and return to Hong Kong tomorrow.

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     â€‹Hong Kong Customs on May 29 seized about 1 kilogram of suspected heroin with an estimated market value of about $790,000 at Hong Kong International Airport.

     Customs on that day examined a batch of air cargo consignment, declared as garments, arriving in Hong Kong from Thailand at the airport. Upon inspection, Customs officers found that there was a plastic ornament in one box of goods and seized a batch of suspected heroin inside the base of the plastic ornament. After a follow-up investigation, Customs officers today (June 1) mounted a controlled delivery operation and arrested a man, aged 49 and suspected to be connected with the case, in Hung Hom.

     An investigation is ongoing.

     Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

     Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk).

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     The Secretary for Constitutional and Mainland Affairs, Mr Erick Tsang Kwok-wai, and the Secretary for Home and Youth Affairs, Miss Alice Mak, met with representatives of the Hong Kong Island Federation to explain the proposals on improving governance at the district level today (June 1).

     Mr Tsang and Miss Mak mentioned that the proposals could institutionally prevent ineffectiveness of district administration, ensuring that the District Councils (DCs) will operate in compliance with provisions of the Basic Law to carry out their district service and advisory functions. This enables the Government to co-ordinate departments’ work such that efficacy of district governance will be enhanced and the public will benefit.

     The two Directors of Bureaux said that members of the public supported and expected the five benefits brought by the proposals, namely:

(1) enhance the functions of DCs to allow the Government to have more effective planning and implementation of district services, manifest executive-led governance and better serve the public;

(2) optimise the composition of DCs and the methods of selection of DC members to allow persons with professional knowledge and experience, who are patriotic and have an affection for Hong Kong, to enter the DCs through multiple channels and serve the public;

(3) introduce an eligibility review mechanism to fully implement the principle of “patriots administering Hong Kong” and safeguard national security, and return the DCs to the livelihood-oriented positioning;

(4) introduce a monitoring mechanism of DC members’ performance to ensure that every DC member delivers due diligence and meets public expectations; and

(5) strengthen the district governance structure to formulate and command appropriate measures in response to the demand of the public in an effective and timely manner.

     The District Councils (Amendment) Bill 2023 was introduced into the Legislative Council (LegCo) for the First Reading and the Second Reading yesterday (May 31). The attendees welcomed the progress. The two Directors of Bureaux said that the Government will proactively facilitate the scrutiny of the LegCo and solicit support for the early passage of the Bill from Members of the LegCo, so as to begin the substantial preparation work for the upcoming DC Ordinary Election and so the seventh-term DCs can assume office on January 1 next year as scheduled.

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The following is issued on behalf of the Hospital Authority:      The spokesperson for Kwong Wah Hospital made the following announcement today (June 1):            A 75-year-old male patient … read more