Thursday, June 21, 2018

FS meets financial officials

Financial Secretary Paul Chan met senior financial officials in Beijing today.   He first met Deputy Governor of the People's Bank of China Pan Gongsheng. They discussed the maintenance of financial stability, the internationalisation of the renminbi and the operation of Bond Connect.   Mr Chan then called on China International Trade Representative and Vice…

May inflation up 2.1%

Consumer prices rose by 2.1% year-on-year in May, the Census & Statistics Department said today.   Netting out effects of the Government's one-off relief measures, the underlying inflation rate was 2.4%, compared to 2.2% in April.   Year-on-year price increases were recorded for food, electricity, gas and water, meals bought away from home, housing, clothing…

HK has vital Belt-Road role

Chief Executive Carrie Lam I'm here this afternoon to speak about the promise of the Belt & Road Initiative, that far-reaching plan built on multilateral, multinational co-operation as well as multifaceted connectivity announced by President Xi Jinping in 2013. Five years by now, it has generally been recognised that the Belt & Road Initiative may well…

FS starts Beijing visit

Financial Secretary Paul Chan started his Beijing visit today by meeting officials and students.   He attended the opening ceremony of the Youth Internship Programme at the Chinese Academy of Sciences and spoke with students participating in the scheme, before visiting the Academy's Institute of Automation.   He said the Hong Kong Special Administrative Region…

Composite interest rate rises

The composite interest rate increased by six basis points to 0.46% at the end of May, the Monetary Authority said today.   It reflected increases in the weighted funding costs for both deposits and interbank funds for the period.   The composite interest rate is a measure of the average cost of funds of banks.

Declaration charge capped

The Legislative Council today passed an amendment to the Import & Export (Registration) Regulation to cap the charge for each import and export declaration at $200.   The new measure will apply to goods imported, exported or re-exported from August 1.   Secretary for Commerce & Economic Development Edward Yau thanked legislators for passing the…

CE meets French minister

Chief Executive Carrie Lam continued her visit to France in Paris yesterday where she met Minister of Foreign Affairs Jean-Yves Le Drian.   Mrs Lam hopes Hong Kong and France have more collaboration in the future, including in the promotion of free trade and participation in the Belt & Road Initiative.   She then joined…

Plan to bulldoze and develop Hong Kong Golf Club in Fanling ‘a bit of...

The government’s fraught suggestion of bulldozing an elegant golf course in Fanling to make way for homes is “a bit of a red herring” and “a silly deflection of the fundamental issue”, the leader of Hong Kong’s biggest business chamber has said. In his first interview since succeeding Wharf’s Stephen Ng Tin-hoi as chairman of…

Prop money meeting held

The Commerce & Economic Development Bureau held a meeting today to brief the film and television industry on procedures for using prop money for filming purposes.   The bureau collaborated with its Film Services Office of Create Hong Kong, the Monetary Authority and the Police to hold the event.   Representatives from the Federation of…

James Lau visits Shatin

Secretary for Financial Services & the Treasury James Lau was introduced to Chinese University’s new fintech programme and also toured district bank branches during his visit to Shatin today.   Mr Lau first met District Councillors to discuss various issues including the use of fiscal surplus and the business environment for small and medium-sized enterprises…
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