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2021 Bun Carnival cancelled

     In view of the latest developments of COVID-19, the Leisure and Cultural Services Department (LCSD) announced today (February 8) that the 2021 Bun Carnival originally scheduled to be held at the soccer pitch of Pak Tai Temple Playground on Cheung Chau has been cancelled.

     The 2021 Bun Carnival is jointly organised by the Hong Kong Cheung Chau Bun Festival Committee and the LCSD. After thorough deliberation, the organising committee has decided to cancel related activities in order to avoid people gathering and to reduce social contact and the risk of the spread of COVID-19 in the community.

     Activities that have been cancelled include:

(1) Training on Bun Tower Climbing;
(2) The Selection Contest for the Bun Scrambling Competition;
(3) The Climbing Carnival; and
(4) The Bun Scrambling Competition.

     Nevertheless, the ongoing Student Colouring and Drawing Competitions of the 2021 Bun Carnival will continue. The LCSD will notify the winners individually and awards will be sent to the respective schools after the assessment. Hard copies of the winning entries will be displayed at some of the LCSD’s venues in Islands District, at Central Pier 5 and at the MTR Community Art Gallery at the MTR Central Station. The LCSD will also upload e-copies of the winning entries to the Multimedia Information System of the Hong Kong Public Libraries in order to promote the Cheung Chau Jiao Festival’s tradition of bun scrambling and local customs among the public.

     As for enquiries of the Jiao Festival organised by the Bun Festival Committee, please call 2981 2329. For more information on the Cheung Chau Jiao Festival, which has been inscribed onto the Third National List of Intangible Cultural Heritage since 2011, please visit www.lcsd.gov.hk/CE/Museum/ICHO/en_US/web/icho/representative_list_cheungchau.html. read more

East Asia

Tender of 2-Year Exchange Fund Notes to be held on February 19

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

     The Hong Kong Monetary Authority (HKMA) announces that a tender of 2-year Exchange Fund Notes will be held on February 19 (Friday) for settlement on February 22 (Monday), as set out in the tentative issuance schedule announced on November 13, 2020. This is to roll over an issue of 2-year Exchange Fund Notes maturing on the same day. 
 
     A total of HK$1,200 million 2-year Notes will be on offer, of which HK$5 million will be made available for offer to members of the public who wish to submit non-competitive tender bids through Hong Kong Securities Clearing Company Limited (HKSCC). If the Notes reserved for non-competitive tender are under-subscribed, the non-subscribed amount will be added to the portion of notes for competitive tender (initially set at HK$1,195 million). The Notes will mature on February 22, 2023 and will carry interest at the rate of 0.16 per cent per annum payable semi-annually in arrears.
 
     Members of the public who wish to submit non-competitive tender applications for Notes that are open to HKSCC may do so through Stock Exchange Participants/Brokers, or for those who hold Investor Accounts of the Central Clearing and Settlement System (CCASS) at the HKSCC, directly through HKSCC, for submission to the HKMA for processing. Competitive tender applications for the Notes must be submitted through any of the Eligible Market Makers appointed by the HKMA, with the current published list available on the HKMA’s website at www.hkma.gov.hk. Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender.
 
     The tender results will be published on the HKMA’s website, the Reuters screen (HKMAOOE), and Bloomberg. Applicants who submitted non-competitive tender bids through HKSCC may also obtain the tender results from Stock Exchange Participants/Brokers, or for applicants who hold Investor Accounts at HKSCC’s CCASS from the CCASS terminal for CCASS Broker/Custodian/Participants and CCASS Phone System.
 
HKMA Exchange Fund Note Programme Tender Information
——————————————————————

     Tender information of 2-Year Exchange Fund Notes:
 

Issue Number : 02Y2302
 
Stock code : 4084
(EFN 0.16 2302)
 
Tender date and time : February 19, 2021 (Friday)
9.30am to 10.30am
 
Issue and Settlement Date
 		 : February 22, 2021 (Monday)
 
Amount on offer : HK$1,200 million
(up to HK$5 million for non-competitive tender)
 
Commencement of/
Deadline for
submission of non-competitive tender bids by retail investors through HKSCC
 		 : Please refer to requirements as set down by HKSCC
Maturity : Two years
 
Maturity Date : February 22, 2023 (Wednesday)
 
Interest Rate : 0.16% p.a.
 
Interest Payment Dates : August 23, 2021
February 22, 2022
August 22, 2022
February 22, 2023
 
Tender amount : Each tender must be for an amount of HK$50,000 or integral multiples thereof for both competitive and non-competitive tender. Members of the public who wish to apply for the Notes through non-competitive tenders that are open to HKSCC may do so through Stock Exchange Participants/ Brokers, or for those who hold Investors Accounts at HKSCC’s CCASS, directly through HKSCC. Members of the public who wish to apply for the Notes through competitive tender may only do so through any of the Eligible Market Makers on the current published list.
 
Other details : Please see Information Memorandum published or approach Eligible Market Makers, HKSCC, or brokers who are Exchange Participants of the Stock Exchange of Hong Kong.
 
Expected commencement date of dealing on the Stock Exchange of Hong Kong : February 23, 2021 (Tuesday)
 
     Price/Yield Table of the new EFN at tender for reference* only:
 
Yield-to- Maturity Price Yield-to-Maturity Price
-0.84 102.00 0.16 100.00
-0.79 101.90 0.21 99.90
-0.74 101.80 0.26 99.80
-0.69 101.70 0.31 99.70
-0.64 101.60 0.36 99.60
-0.59 101.50 0.41 99.50
-0.54 101.40 0.46 99.40
-0.49 101.30 0.51 99.31
-0.44 101.20 0.56 99.21
-0.39 101.10 0.61 99.11
-0.34 101.00 0.66 99.01
-0.29 100.90 0.71 98.91
-0.24 100.80 0.76 98.81
-0.19 100.70 0.81 98.72
-0.14 100.60 0.86 98.62
-0.09 100.50 0.91 98.52
-0.04 100.40 0.96 98.42
0.01 100.30 1.01 98.33
0.06 100.20 1.06 98.23
0.11 100.10 1.11 98.13
0.16 100.00 1.16 98.04
 
*Disclaimer: The information provided here is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of, the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it. The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here.
  read more

East Asia

Extension of Banking Talent Programme

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

     In view of the ongoing impact of the COVID-19 pandemic on Hong Kong’s economy and labour market, the Hong Kong Monetary Authority (HKMA) today (February 8) announced the extension of the Banking Talent Programme (the Programme). The Programme, jointly launched by the HKMA and the banking industry, will be extended to upcoming fresh graduates this year through offering six-month work opportunities and professional training starting September 2021 (2021 Programme). The existing Programme for recruited graduates (2020 Programme) can also be extended for a period of up to six months (i.e. till August 31, 2021) depending on the operational needs of the participating institutions.
 
     With the support of the industry, the scale of 2021 Programme will be larger with more job opportunities, and the scope will be expanded to cover graduates from universities outside Hong Kong, in addition to those from local universities. These enhancements will benefit a wider spectrum of young talent who aspire to develop their career in Hong Kong’s banking sector. The details of 2021 Programme are set out below:
 

  • Job opportunities: Around 450 openings will be offered by banks, Stored Value Facilities operators, together with the HKMA. Work opportunities will be provided in areas ranging from front-line operations to back-office functions in retail and commercial banking;
  • Professional training: A series of induction seminars organised by the HKMA, in collaboration with the Hong Kong Academy of Finance and the Hong Kong Institute of Bankers (HKIB), as well as industry-specific training courses will be provided to relevant graduates;
  • Programme period: 2021 Programme will start from early September 2021 and last for a period of six months;
  • Financial support: Same as 2020 Programme, the HKMA will reimburse participating institutions up to 50 per cent of the monthly salary (HK$12,000) of Programme participants, and subsidise the fees for the relevant professional training courses attended by the graduates (up to HK$5,000 per person);
  • Eligibility: 2021 Programme will be open for applications from students graduating with a bachelor’s degree in 2021 from local universities and those outside Hong Kong (Note). The disciplines preferred will depend on the work nature of specific jobs and the need of participating institutions; and
  • Application: Application will open on May 1, 2021 and the results will be announced by participating institutions around July to August after selection interviews.
  
     For those graduates under 2020 Programme whose employment will be extended by the participating institutions, the HKMA will continue to reimburse up to 50 per cent of the monthly salary of Programme participants during the extended period.
 
     The Chief Executive of the HKMA, Mr Eddie Yue, said, “I am pleased to see the staunch support of the banking industry and the positive responses of the graduates for the Programme. As the labour market is likely to remain challenging amid the lingering pandemic, the extension of the Programme will provide a valuable opportunity for our young talent to gain more work experience and financial knowledge so that they can better prepare themselves for a future career in the banking sector when the economy recovers. The banking industry will also benefit from a sustainable pipeline of young talent, which is crucial to strengthening the competitiveness of Hong Kong as an international financial centre.”

     Further information about the Programme will be updated on the website of the HKIB (www.hkib.org), the administrator of the Programme, in due course.

Background
 
     The HKMA and the banking industry launched the Programme last year to provide fresh graduates with short-term work opportunities and professional training, with a view to alleviating the impact of the COVID-19 pandemic on the supply of young talent in the banking sector. More than 300 six-month work opportunities from over 40 participating institutions were offered to graduates of local universities last year, with employment period commencing September 2020. 

Note: Eligible applicants must be Hong Kong residents. read more

East Asia