Tag Archives: China

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 OCBC Bank (Hong Kong) Limited relating to a fraudulent website and an internet banking login screen, 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 website or login screen 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

     The Government announced today (March 21) that the Financial Secretary has appointed, under the authority delegated by the Chief Executive, nine new members and reappointed 16 serving members to the Securities and Futures … read more

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

     The Hong Kong Monetary Authority (HKMA) published today (March 21) statistics of payment cards issued in Hong Kong for the fourth quarter of 2024.
      
     The payment card statistics (see Annex) include quarterly data on credit and debit cards issued in Hong Kong under the credit and/or debit card schemes of the eight payment card scheme operators (Note 1). The HKMA began to publish the payment card statistics on a quarterly basis in June 2010 to enhance transparency of the payment card industry in Hong Kong, in line with international practice.
      
     According to the quarterly statistics, the total number of credit cards in circulation (Note 2) was 20.94 million by the end of Q4/2024. The figure represents a 3.2 per cent increase from the previous quarter and a 6.4 per cent increase from the previous year. The number and value of credit card transactions (including retail sales and cash advances) (Note 3) are susceptible to seasonal factors and the general economic environment, making the trends more prone to fluctuation. The total number of credit card transactions was 339.27 million for Q4/2024, representing a 3.1 per cent increase from the previous quarter and a 11.9 per cent increase from the same period in 2023. The total value of credit card transactions was HK$271.4 billion for Q4/2024, representing a 9.1 per cent increase from the previous quarter and a 10.8 per cent increase from the same period in 2023. Of the total transaction value, HK$182.8 billion (67.4 per cent) was related to retail spending in Hong Kong, HK$79.3 billion (29.2 per cent) in retail spending overseas and HK$9.3 billion (3.4 per cent) in cash advances.
      
     The total number of debit cards in circulation is not available due to overlapping of debit card brands in a single card. Like the number and value of credit card transactions, the number and value of debit card transactions in relation to retail sales and bills payments (Note 4) are also affected by seasonal factors. On a quarterly basis, the total number of debit card transactions in relation to retail sales and bills payments increased by 2.7 per cent to 55.50 million while the total value increased by 6.6 per cent to HK$73.0 billion in Q4/2024. When compared to the same period in 2023, the total number increased by 14.1 per cent and the total value dropped by 0.2 per cent in Q4/2024.
 
Note 1: The payment card statistics are compiled from data on credit and debit cards issued in Hong Kong by both authorized institutions (AIs) and non-authorized institutions (non-AIs) under the credit and/or debit card schemes of the eight payment card scheme operators (“the card operators”). The card operators, in alphabetical order, are American Express International, Inc., Discover Financial Services (Hong Kong) Limited, EPS Company (Hong Kong) Limited (EPSCO), JCB International (Asia) Ltd, Joint Electronic Teller Services Ltd. (JETCO), MasterCard Asia/Pacific Pte. Ltd., UnionPay International Co. Ltd and Visa Worldwide Pte. Limited.

Note 2: A credit card issued in Hong Kong only carries one credit card brand. The total number of credit cards in circulation refers to the total number of credit cards (i.e. cards with a credit function) issued in Hong Kong under the credit card schemes of card operators (but excluding EPSCO and JETCO, which do not operate a credit card scheme). Some of these credit cards carry debit card functions, i.e. the credit card can be used for making purchases/payments or cash withdrawal at ATMs through directly debiting cardholders’ bank accounts.

Note 3: The total number/value of credit card transactions refer to the total number/value of transactions made via credit card accounts of credit cards issued in Hong Kong under the credit card schemes of card operators (excluding EPSCO and JETCO). Starting from March 2015, a Hong Kong/overseas spending breakdown of credit card retail sales transactions is provided.

Note 4: The total number/value of debit card transactions in relation to retail sales/bill payments refers to the total number/value of those transactions made via debiting cardholders’ bank accounts. Some of the eight card operators do not operate a debit card scheme. Care should be exercised in combining the credit card retail sales figures and the debit card retail sales/bills payment figures because of the possibility of double counting. read more

     Following is the speech by the Deputy Chief Secretary for Administration, Mr Cheuk Wing-hing, at the Opening Ceremony of ComplexCon Hong Kong 2025 today (March 21):

Bonnie (Chief Executive Officer of Complex China, Ms Bonnie Chan Woo), Daniel (Global Artistic Director of ComplexCon, Mr Daniel Arsham), Adrian (Chairman of Mega Arts and Cultural Events Committee, Dr Adrian Cheng), Raistlin (Under Secretary for Culture, Sports and Tourism, Mr Raistlin Lau), distinguished guests, ladies and gentlemen,

     Good afternoon everybody. I am thrilled to join you at the opening ceremony of ComplexCon Hong Kong 2025.

     Last year, the debut of ComplexCon was a tremendous success. It gave us a surprise by bringing an internationally renowned festival of pop culture to Hong Kong, and even to the whole of Asia for the first time. Today, I’m excited to welcome the second edition of ComplexCon with an enhanced line-up and more fabulous programmes returning to Hong Kong again. This loudly reaffirms Hong Kong’s position as an international hub for arts and culture and Asia’s events capital.

     For the second consecutive year, ComplexCon Hong Kong is supported by the Mega Arts and Cultural Events (Mega ACE) Fund of the Culture, Sports and Tourism Bureau. Bringing together over 100 international and local artists, creators and trendsetting brands, ComplexCon will definitely build an exhilarating platform for international exchanges of arts and culture, attract new talent, brands and artists to Hong Kong, create opportunities for the industry, and give local audiences and visitors from around the world a big treat in trendy culture.

     Globally, the pop culture and live entertainment industry has rapidly evolved and keeps going strong, creating immense opportunities for growth and innovation. With Hong Kong’s pre-eminent background as a melting pot of Chinese and Western cultures, and rich heritage and development in fashion and pop culture, the city has the perfect DNA to play a pivotal part in shaping these global trends. We thus love to have ComplexCon in town for the symbiotic development of our cultural and creative industries.

     This month is Hong Kong’s “Super March”, with an eye-dazzling array of world-class sports, arts and cultural events converging in the city. ComplexCon, as a magnet for pop culture enthusiasts from all over the world, is undoubtedly one of the highlights.

     Lastly, I would like to express my sincerest gratitude to Complex China, especially Bonnie and her team, and all the partners who have been joining hands with us to bring ComplexCon to Hong Kong for the second time. I wish ComplexCon huge success, and all of you an insanely good time in Hong Kong. Thank you.

        

     Hongkong Post announced today (March 21) that, as advised by the airlines, Britain’s Heathrow Airport has been closed due to a fire incident. Mail delivery services to the United Kingdom are subject to delay. read more