Tag Archives: China

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Hong Kong Customs seizes suspected illicit cigarettes worth about $4.7 million (with photo)

     Hong Kong Customs today (April 14) seized about 1.7 million suspected illicit cigarettes in Fanling, with an estimated market value of about $4.7 million and a duty potential of about $3.2 million.

     During an anti-illicit cigarette operation conducted in Fanling during the small hours today, Customs officers intercepted a truck and seized the batch of suspected illicit cigarettes. Two men including the truck driver, aged 25 and 26, were arrested. The truck, which was suspected to be used for illicit cigarette distribution, has been detained.

     An investigation is ongoing.

     Customs will continue to combat illicit cigarette activities on all fronts, including cross-boundary smuggling, storage and distribution as well as peddling, through a multi-pronged enforcement approach.

     Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.

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

Photo  
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Analytical accounts of the Exchange Fund

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) released today (April 14) the key analytical accounts of the Exchange Fund at the end of March 2021.
      
     Foreign assets, representing the external assets of the Exchange Fund, decreased during the month by HK$26.9 billion to HK$4,016.5 billion.
      
     The Monetary Base, comprising Certificates of Indebtedness, Government‑issued currency notes and coins in circulation, the balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HK$2,107.9 billion.
      
     Claims on the private sector in Hong Kong amounted to HK$224.7 billion.
      
     The analytical accounts of the Exchange Fund are released in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex).
 
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     At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency. For the month of April 2021, the scheduled dates for issuing the press releases are as follows:
 

April 9
(Issued)
SDDS International Reserves
(Hong Kong’s Latest Foreign Currency Reserve Assets Figures)
 
April 14
 
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)
 
April 30
 
 
SDDS Template on International Reserves and
Foreign Currency Liquidity
 
April 30
 
Exchange Fund Abridged Balance Sheet and
Currency Board Account
 
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