The Census and Statistics Department (C&SD) released the latest figures on retail sales today (June 1). The value of total retail sales in April 2023, provisionally estimated at $34.7 billion, increased by… read more
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) today (June 1) announced the launch of a list of Authorized Institution (AI)-related trustees (List) on its website to enable members of the public to identify AI-related trustees and to ascertain their information.
In May 2022, the HKMA issued a Supervisory Policy Manual (SPM) module TB-1 “Regulation and Supervision of Trust Business” and the Code of Practice for Trust Business (the Code). The requirements for AIs and subsidiaries of locally incorporated AIs (AI subsidiaries) to comply with the SPM and the Code come into operation today.
“The Code of Practice for Trust Business aims at enhancing protection of client assets held on trust and promoting treating customers fairly and customer-centric culture in trust business. The Code has incorporated international standards and practices, and is conducive to reinforcing Hong Kong’s position as a leading asset and wealth management centre. We require AIs and AI subsidiaries to comply with the Code, and also encourage other trustees to adopt the Code,” said Deputy Chief Executive of the HKMA, Mr Arthur Yuen.
The HKMA will maintain and publish the List. The List consists of AIs and AI subsidiaries that conduct trust business in Hong Kong as trustees. Any other entities within an AI’s group that carry on trust business in Hong Kong as trustees wishing to be included in the List can provide to the HKMA an annual declaration on their compliance with the Code. read more
​The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (June 1) that in view of a notification from the General Veterinary Inspectorate of Poland about an outbreak of highly pathogenic H… read more
The Main Programme under the Professional Services Advancement Support Scheme (PASS) is inviting a new round of applications for project proposals starting today (June 1) from non-profit-distributing organisations such as professional bodies, trade and industrial organisations, and research institutes.
The PASS, with a total allocation of $200 million, aims at funding non-profit-making industry-led projects to increase exchanges and co-operation between Hong Kong’s professional services and external counterparts, promote relevant publicity activities, and enhance the standards and external competitiveness of Hong Kong’s professional services.
The maximum grant for each approved project under the Main Programme of the PASS is $3 million or 90 per cent of the total eligible project cost, whichever is lower. A wide range of professional services, such as accounting, legal and dispute resolution, architecture, engineering, healthcare, information and communications technology, design and technical testing and analysis, are eligible for the Main Programme. Sector-specific projects and cross-sectoral projects are both welcome. Expenses directly incurred for implementing a project, such as manpower costs, venue and set-up costs, production and promotion costs, and the project team and active participants’ travel and accommodation costs outside Hong Kong are typically eligible for funding support under the Scheme. Funding support may also be provided for travel and accommodation costs incurred by participants of relatively longer professional internships or attachment programmes outside Hong Kong which are funded by the Main Programme.
Up to early May 2023, more than 90 projects had been funded under the Main Programme, including project deliverables in and outside Hong Kong. The deliverables include capacity-building programmes for enhancing the standards of local professionals, such as training programmes, workshops and study tours; outreach and promotional activities for showcasing the strengths of Hong Kong’s professional services, such as roadshows, promotional seminars and participation in exhibitions outside Hong Kong; exchange activities for deepening interaction between Hong Kong professionals and their external counterparts, such as visits to other economies and international conferences and seminars held in Hong Kong; and research projects on potential external markets for Hong Kong professional services and development of best practice guidelines and manuals for professionals. Details about the Main Programme and its funded projects are available at www.pass.gov.hk/main/en/home/index.html.
Furthermore, with a view to stepping up the promotion of Hong Kong’s competitive edges and professional services to Mainland cities (including those in the Guangdong-Hong Kong-Macao Greater Bay Area) and overseas markets, $50 million has been set aside for the Professionals Participation Subsidy Programme (PSP) under the PASS to subsidise Hong Kong major professional bodies to participate in relevant activities organised by the Government (such as Hong Kong Economic and Trade Offices) and the Hong Kong Trade Development Council after the pandemic situation has stabilised. Details of the PSP and its latest list of eligible activities are available at www.pass.gov.hk/psp. Hong Kong professionals from the eligible professional sectors under the PASS may make use of the PSP subsidy to join the relevant activities.
The Main Programme and the PSP receive applications for project and activity proposals all year round and they are processed on a quarterly basis. The deadline for the new round of applications is August 31, 2023. A briefing session will be held this month for organisations interested in applying for PASS funding. For registration for the briefing session or other enquiries, please contact the PASS Secretariat at 3655 5418 or pass@cedb.gov.hk. read more
The Secretary for Environment and Ecology, Mr Tse Chin-wan, led a delegation today (June 1) to attend the Industry Green Development Conference 2023 in Guangzhou. He also visited the Industry Green Development Achievement Exhibition 2023 and exchanged views with exhibitors and senior officials.
The Industry Green Development Conference 2023 was jointly organised by the Ministry of Industry and Information Technology (MIIT), the People’s Government of Guangdong Province and the People’s Government of Guangzhou Municipality, with the theme of Accelerating Green and Low-Carbon Industrial Transformation for High-Quality Economic Development. In delivering his speech, Mr Tse said that with a view to aligning with the national “dual carbon” targets, the Hong Kong Special Administrative Region (HKSAR) Government announced Hong Kong’s Climate Action Plan 2050 in 2021, setting out four major decarbonisation strategies, namely net-zero electricity generation, energy saving and green buildings, green transport and waste reduction. Hong Kong is striving to reduce the total carbon emissions from the 2005 level by half before 2035 and achieve carbon neutrality before 2050.
Mr Tse also pointed out that achieving carbon neutrality in less than 30 years requires not only the support from all sectors of the community in Hong Kong, but also requires the deepening of regional co-operation within the Guangdong-Hong Kong-Macao Greater Bay Area. The HKSAR Government has been communicating and co-operating with the People’s Government of Guangdong Province and the People’s Government of Shenzhen Municipality on environmental protection issues through various platforms, including the Hong Kong-Guangdong Joint Working Group on Environmental Protection and Combating Climate Change and the Hong Kong/Shenzhen co-operation working group.
Mr Tse said, “The HKSAR Government will continue to combat climate change and accelerate the green transformation and development of the HKSAR in various aspects, practise sustainable development, integrate into the country’s overall development, and contribute to national and global efforts to tackle climate change.”
Later, Mr Tse toured the Industry Green Development Achievement Exhibition 2023 and met with exhibitors from Hong Kong enterprises to exchange views on promoting green development in the community. More than 180 Mainland and overseas organisations participated in the exhibition, building a high-level international exchange platform for green and low-carbon development.
During the visit, Mr Tse also met with Vice Chairperson of the 14th Chinese People’s Political Consultative Conference National Committee and Executive Vice Chairperson of the Chinese Peasants and Workers Democratic Party Central Committee, Mr Yang Zhen, as well as senior officials of the conference’s major organisers, including Vice Minister of the MIIT Mr Xin Guobin, Vice-Governor of Guangdong Province Mr Lu Yuyin, and Vice Mayor of Guangzhou Mr Jiang Zhitao, to strengthen exchanges and co-operation in cleaner production, industrial green development, energy saving and carbon emission reduction.
​ Members of the delegation include the Commissioner for Climate Change, Mr Wong Chuen-fai, and officers from the Environment and Ecology Bureau, the Environmental Protection Department and the Electrical and Mechanical Services Department.
Mr Tse returned to Hong Kong this afternoon.
