Gazettal of Betting Duty (Amendment) Bill 2023

     The Betting Duty (Amendment) Bill 2023 will be gazetted on May 25. The Bill seeks to implement the proposal in the 2023-24 Budget for imposing an annual special football betting duty (SFBD) of $2.4 billion on the football betting conductor for five years.
 
     To increase government revenue in the short term while minimising the scope of impact brought by any upward adjustment of taxes as far as possible, the Financial Secretary proposed in the 2023-24 Budget levying an annual SFBD of $2.4 billion on the football betting conductor under the Betting Duty Ordinance (Cap. 108) for five years from 2023-24 to 2027-28, while maintaining the current betting duty rates. The proposed SFBD would bring about a total receipt of $12 billion over five years. The parent entity of the incumbent football betting conductor, namely the Hong Kong Jockey Club, has undertaken that the proposal would not reduce its commitment to local charities.

     The Bill will be introduced into the Legislative Council on May 31.




Effective Exchange Rate Index

     The effective exchange rate index for the Hong Kong dollar on Tuesday, May 23, 2023 is 103.0 (up 0.1 against yesterday's index).




Exchange Fund Bills tender results

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

     Exchange Fund Bills tender results:
 

Tender date : May 23, 2023
Paper on offer : EF Bills
Issue number : M2311
Issue date : May 24, 2023
Maturity date : June 21, 2023
Amount applied : HK$13,150 MN
Amount allotted : HK2,000 MN
Average yield accepted : 4.31 PCT
Highest yield accepted : 4.35 PCT
Pro rata ratio* : About 8 PCT
Average tender yield : 4.45 PCT
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Tender date : May 23, 2023
Paper on offer : EF Bills
Issue number : Q2321
Issue date : May 24, 2023
Maturity date : August 23, 2023
Amount applied : HK$131,335 MN
Amount allotted : HK$57,682 MN
Average yield accepted : 4.24 PCT
Highest yield accepted : 4.29 PCT
Pro rata ratio* : About 76 PCT
Average tender yield : 4.40 PCT
****************************
Tender date : May 23, 2023
Paper on offer : EF Bills
Issue number : H2350
Issue date : May 24, 2023
Maturity date : November 22, 2023
Amount applied : HK$52,102 MN
Amount allotted : HK$15,000 MN
Average yield accepted : 4.22 PCT
Highest yield accepted : 4.27 PCT
Pro rata ratio* : About 44 PCT
Average tender yield : 4.35 PCT

 
*"Pro rata ratio" refers to the average percentage of allotment with respect to each tender participant's tendered amount at the "highest yield accepted" level.
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     Hong Kong Monetary Authority tenders to be held in the week beginning May 29, 2023:
 

Tender date : May 30,2023
Paper on offer : EF Bills
Issue number : Q2322
Issue date : May 31, 2023
Maturity date : August 30, 2023
Tenor : 91 Days
Amount on offer : HK$59,871 MN
****************************
Tender date : May 30, 2023
Paper on offer : EF Bills
Issue number : H2351
Issue date : May 31, 2023
Maturity date : November 29, 2023
Tenor : 182 Days
Amount on offer : HK$15,000 MN
****************************
Tender date : June 2, 2023
Paper on offer : EF Bills
Issue number : M2312
Issue date : June 5, 2023
Maturity date : June 28, 2023
Tenor : 23 Days
Amount on offer : HK$800 MN



Exchange Fund Notes tender results

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

Exchange Fund Notes tender results
*****************************

Tender date : May 23, 2023
Paper on offer : EF Notes
Issue number : 02Y2505
Issue date : May 24, 2023
Maturity date : May 26, 2025
Coupon   3.31% p.a.
Competitive Tender Result    
Amount applied : HK$7,760 MN
Amount allotted : HK$1,200 MN
Average price accepted (yield) : 99.34 (3.69 PCT)
Lowest price accepted (yield) : 99.33 (3.69 PCT)
Pro rata ratio* : About 45 PCT
Average tender price (yield) : 99.16 (3.78 PCT)
Non-competitive Tender Results (for applications submitted through Hong Kong Securities Clearing Company Limited)
Amount applied : NIL
Amount allotted : NIL
Allotment Price (yield) : NIL
Pro rata ratio* : NIL

 
* "Pro rata ratio" refers to the average percentage of allotment with respect to each tender participant's tendered amount at the "lowest price accepted" level.




SED visits schools in UK (with photos)

     The Secretary for Education, Dr Choi Yuk-lin, continued her visit in London, the United Kingdom (UK), on May 11 and 12 (London time) to visit local schools and meet local Hong Kong students.
 
     On the morning of May 11 (London time), Dr Choi, accompanied by Parliamentary Under Secretary of State at the Department for Education of the UK, Ms Diana Barran, toured the Elms Academy, a secondary school, and met its teachers and students to learn about how it supports students whose first language is not English to learn the language and develops students' life skills according to their interests and abilities at the secondary school stage.
 
     On the same afternoon, Dr Choi met Hong Kong students studying at renowned universities in the UK under the Hong Kong Scholarship for Excellence Scheme to learn about their school life there. She encouraged the students to pursue a career in Hong Kong upon graduation and contribute to the city with what they have learnt.
 
     Later, she visited City and Islington College, a further education college, to exchange views with its representatives, and learn about its Vocational and Professional Education and Training (VPET) courses and pedagogy, and how it promotes VPET as an alternate progression pathway.
 
     On May 12 (London time), Dr Choi visited North London Collegiate School and Lady Eleanor Holles School, two long-established girls' secondary schools. She toured the campus facilities and observed students attending classes and participating in activities. She also met the management, teachers and students to understand the education visions and practical experience of the schools.
 
     Dr Choi has concluded her UK visit and will arrive in Beijing tomorrow (May 14). During her visit in Beijing, she will call at the Hong Kong and Macao Affairs Office of the State Council, local universities and the Chinese Academy of Governance. She will also attend the joint opening ceremony of the leadership enhancement programme for primary and secondary school principals and the Mainland study tour for newly joined teachers.
 
     Dr Choi will return to Hong Kong on the evening of May 16. During her absence, the Under Secretary for Education, Mr Sze Chun-fai, will be the Acting Secretary for Education.

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