Tag Archives: China

     The Environmental Protection Department (EPD) today (January 24) released the latest grading of water quality for six gazetted beaches that are open all year round for swimming.
 
     Six beaches were rated as Good (Grade 1).
 
 
Grade 1 beaches are:

Casam Beach	Golden Beach
Clear Water Bay Second Beach	Lido Beach
Deep Water Bay Beach	Silverstrand Beach

 
     Compared with the grading released last week, there was no change in the grading for these beaches.
 
     Under the present grading system, beaches are classified into four grades, namely Good (Grade 1), Fair (Grade 2), Poor (Grade 3) and Very Poor (Grade 4), according to the level of E. coli in the water. Grades are calculated on the basis of the geometric mean of the E. coli counts on the five most recent sampling occasions.
 
     While the ratings represent the general water quality at the beaches, an EPD spokesman reminded members of the public that water quality could be temporarily affected during and after periods of heavy rain. Bathers should avoid swimming at beaches for up to three days after a tropical cyclone or heavy rainfall.
 
     A summary of beach grades is published weekly before the weekend. The latest beach grades based on the most current data may be obtained from the EPD’s website on Beach Water Quality (www.epd.gov.hk/epd/beach) or the beach hotline, 2511 6666.  Members of the public can also obtain the latest daily water quality forecast information for all beaches that are open for swimming through the EPD’s dedicated webpage on the beach water quality forecast (www.epd.gov.hk/en/BWQForecast). read more

     The effective exchange rate index for the Hong Kong dollar on Friday, January, 2025 is 106.8 (down 0.4 against yesterday’s index). read more

     The Chief Executive in Council has approved the draft Discovery Bay Outline Zoning Plan (OZP). 

     “The approved OZP provides a statutory land use planning framework to guide the development and redevelopment within the Discovery Bay area,” a spokesman for the Town Planning Board said today (January 24). 
      
     The planning scheme area, covering about 812 hectares, is located at the eastern part of Lantau Island. It comprises the area mainly bounded by the Lantau North (Extension) Country Park to its north, west and south and Tai Pak Wan to its east. 
      
     The approved OZP has incorporated amendments shown on the draft Discovery Bay OZP No. S/I-DB/5, which mainly involve (i) rezoning a site to the north of Discovery Valley Road from “Other Specified Uses” (“OU”) annotated “Staff Quarters (5)” to “Residential (Group C) 12” (“R(C)12”) for residential development; and (ii) incorporation of two sea areas in Nim Shue Wan into the planning scheme area, zoning the sea areas and rezoning the adjoining site near Nim Shue Wan from various zones to “R(C)13”, “R(C)14”, “R(C)15”, “OU” annotated “Residential Development with Service Area Below”, “OU” annotated “Sports and Recreation Club (4)” stipulating as Area B and “OU” annotated “Helicopter Landing Pad” for residential development with servicing facilities, sports and recreational facilities, and a helipad.
      
     The Notes and Explanatory Statement of the OZP have been amended taking into account the above amendments. Opportunity is also taken to update the general information of various land use zones and the planning circumstances, where appropriate.
      
     The approved Discovery Bay OZP No. S/I-DB/6 is available for public inspection during office hours at (i) the Secretariat of the Town Planning Board, (ii) the Planning Enquiry Counters, (iii) the Sai Kung and Islands District Planning Office and (iv) the Islands District Offices.
      
     Copies of the approved OZP are available for sale at the Map Publications Centres in North Point and Yau Ma Tei (the Map Publications Centre in Yau Ma Tei will be closed from February 3, 2025). The electronic version of the OZP can be viewed at the Town Planning Board’s website (www.tpb.gov.hk). read more

     â€‹The Chief Executive in Council has approved the draft Tin Shui Wai Outline Zoning Plan (OZP). 
      
     “The approved OZP provides a statutory land use planning framework to guide the development and redevelopment within the Tin Shui Wai area,” a spokesman for the Town Planning Board said today (January 24). 
      
     The planning scheme area, covering about 406 hectares, is located in the north-western part of the North West New Territories. It is bounded by the Inner Deep Bay Site of Special Scientific Interest and Tin Tsz Road to the north-east and east, Mong Tseng Tsuen and Mong Tseng Wai to the north, Lau Fau Shan to the north-west, the Hung Shui Kiu/Ha Tsuen New Development Area to the west and Sheung Cheung Wai to the south.
      
     The approved OZP has incorporated amendments shown on the draft Tin Shui Wai OZP No. S/TSW/17, which mainly involve (i) rezoning a site in Tin Shui Wai Area 14 from “Other Specified Uses” annotated “Bus Depot”, “Government, Institution or Community” (“G/IC”) and area shown as ‘Road’ to “Residential (Group A)2”; (ii) rezoning two sites in Tin Shui Wai Areas 115 and 112 from “Comprehensive Development Area” (“CDA”) to “Residential (Group B)3” and “Residential (Group B)4” respectively; (iii) rezoning a site at the junction of Tin Yip Road and Tin Kwai Road from “Other Specified Uses” annotated “Telephone Exchange” to “G/IC”; and (iv) rezoning two strips of land in Tin Shui Wai Areas 112 and 115 from “CDA” to area shown as ‘Road’.
      
     The Notes and Explanatory Statement of the OZP have been amended taking into account the above amendments. Opportunity is also taken to update the general information of various land use zones and the planning circumstances, where appropriate.
      
     The approved Tin Shui Wai OZP No. S/TSW/18 is available for public inspection during office hours at (i) the Secretariat of the Town Planning Board, (ii) the Planning Enquiry Counters, (iii) the Tuen Mun and Yuen Long West District Planning Office, (iv) the Yuen Long District Office and (v) the Ping Shan Heung Rural Committee.
      
     Copies of the approved OZP are available for sale at the Map Publications Centres in North Point and Yau Ma Tei (the Map Publications Centre in Yau Ma Tei will be closed from February 3, 2025). The electronic version of the OZP can be viewed at the Town Planning Board’s website (www.tpb.gov.hk). read more

The following is issued on behalf of the Legislative Council Secretariat:
      
     The Legislative Council (LegCo) Secretariat today (January 24) released a Policy Pulse on “Consolidating Hong Kong’s status as an international financial centre”. This issue provides a concise overview of the developments and achievements of Hong Kong’s financial services in recent years, the latest measures, and LegCo’s relevant work along with policy recommendations from Members.

     As an international financial centre, Hong Kong ranks highly in various international rankings. The Policy Pulse highlighted several of these rankings, including being the world’s freest economy, ranking first globally for investment environment, and being the world’s largest Renminbi (RMB) offshore business centre. It also outlined policies and measures implemented by the Government and relevant financial institutions in areas such as asset and wealth management, fundraising platform, mutual capital market access between the Mainland and Hong Kong, international risk management, developing fintech, and green and sustainable finance.

     LegCo has been closely attentive to the development of financial services in Hong Kong, offering advice to the Government on how to fully leverage Hong Kong’s role as a “super-connector” and “super value-adder”. The Policy Pulse summarised the LegCo’s relevant work, including the passage of two tax-related Bills in 2023 and 2024 to promote family office business and enhance the competitiveness of Hong Kong’s real estate investment trusts. LegCo also passed legislative amendments to lower the rate of stamp duty on stock transfers to 0.1 per cent to reinforce the competitiveness of Hong Kong’s stock market.

     Moreover, the LegCo’s Bills Committees are studying the Companies (Amendment) (No. 2) Bill 2024 and the Stablecoins Bill, which aim to introduce a mechanism to facilitate the re-domiciliation of companies incorporated overseas to Hong Kong and to implement a licensing regime for fiat-referenced stablecoin issuers, respectively. In terms of developing fintech, the House Committee of LegCo has set up a subcommittee to review the application and development of Web3 and virtual asset technologies in Hong Kong and to make recommendations on the implementation of relevant legislation and policies.

     Members put forward a number of proposals to develop Hong Kong into a deeper and broader fundraising platform. These include providing incentives to encourage listed companies to issue RMB-denominated stocks and striving for further relaxation of the southbound trading of Stock Connect; implementing a tiered stamp duty system for stock trading to increase the liquidity of the securities market; and encouraging companies worldwide to list in Hong Kong regarding the hottest investment themes in the market. Members also expressed concern about the development of the RMB offshore business and urged the Administration to issue more offshore RMB bonds, equity and risk management products.

     The detailed content of “Consolidating Hong Kong’s status as an international financial centre” is available on the LegCo Website. Policy Pulse, published by the LegCo Secretariat, covers specific topics and offers a comprehensive overview of related policy developments and summarised discussions in LegCo. read more