Month: April 2025

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Business of I&T Week upcoming

Source: Hong Kong Information Services

The Business of Innovation & Technology Week (BIT Week) will make a grand return in April, the Innovation, Technology & Industry Bureau announced today.

Mega innovation and technology (I&T) events include InnoEX, the Hong Kong World Youth Science Conference, and the World Internet Conference Asia-Pacific Summit.

The third edition of InnoEX will take place from April 13 to 16 at the Convention & Exhibition Centre (HKCEC), bringing together I&T elites, enterprises and buyers from the Mainland and overseas to promote I&T advancements.

It will showcase cutting-edge technology solutions across five key areas of low-altitude economy, artificial intelligence (AI), robotics, cybersecurity and smart mobility.

The event’s highlight is a Hong Kong pavilion set up by the Digital Policy Office to exhibit over 100 I&T solutions, including those developed by government departments concerning citizens’ daily lives as well as award-winning projects by local innovators and students.

The second Hong Kong World Youth Science Conference and the Xiangjiang Nobel Forum 2025 will take place concurrently at the HKCEC, assembling top-notch I&T talent and renowned scientists including laureates of the Nobel Prize and Turing Award in the city.

Through keynote speeches, roundtable forums and other formats, the conference participants will tap into global wisdom on cutting-edge topics in big data, AI, biotechnology, new materials and large models. 

The World Internet Conference Asia-Pacific Summit will happen on April 14 and 15 at the HKCEC, focusing on discussions in large AI models, digital finance, and digital government and smart life.

Secretary for Innovation, Technology & Industry Sun Dong said that BIT Week will bring together I&T elites from 29 countries and regions and over 2,800 exhibitors, adding that Hong Kong’s I&T strengths will be showcased via a series of exhibitions, forums, seminars, business networking, and talent matching.

Other industry events during BIT Week include the Hong Kong Electronics Fair (Spring Edition), Smart Lighting Expo, and the Hong Kong Web3 Festival, the bureau said.

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Northern railway scheme approved

Source: Hong Kong Information Services

The Chief Executive in Council today authorised the Northern Link (NOL) Main Line railway scheme, in accordance with the Railways Ordinance.

The Government outlined that the NOL Main Line will become the main transportation backbone of the Northern Metropolis, unleashing the development potential of land along it. It will also connect the existing Tuen Ma Line and the East Rail Line, forming a railway loop that links up the New Territories and the Kowloon urban area, thereby substantially improving the existing railway network.

When the NOL Main Line comes into operation, the expected travel time between Kam Sheung Road Station and Kwu Tung Station is expected to be substantially reduced from the current 60 to 80 minutes during peak hours to about 12 minutes.

The Government and the MTR Corporation (MTRC) have to date collected public views on the NOL Main Line project through various channels. This includes consulting the North District Council and the Yuen Long District Council, holding discussions with relevant rural committees and stakeholders, and organising various publicity activities in the community. The public is generally supportive of the NOL Main Line project.

The original plan for the NOL Main Line was published in the Government Gazette on October 6, 2023, with two subsequent amendments being made. The first amendment and a correction to the scheme were published on May 3 last year, and the second amendment was published on August 30.

The Government noted that all objections not subsequently withdrawn have been submitted to the Executive Council for consideration.

It added that during implementation of the NOL Main Line project, the MTRC will continue to maintain close communication with relevant stakeholders. Furthermore, the MTRC is also required to comply with the conditions stipulated in the environmental permit issued by the Director of Environmental Protection.

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Tram fares to rise May 12

Source: Hong Kong Information Services

The Chief Executive-in-Council today gave consent to Hong Kong Tramways (HKT) to alter its fares starting May 12, when passengers aged 12 or above will pay $3.3 for a tram ride, up $0.3 from the current $3.

Child fares will increase from $1.5 to $1.6, while for people aged 65 or above tickets will go up from $1.3 to $1.5.

The Government said it took into account various factors when assessing the fare increase application, such as the service quality and quantity, HKT’s planned improvement projects, changes in operating costs and revenue since its last fare adjustment, and the likely public acceptability etc.

Under the current fare adjustment, the $260 monthly ticket will remain unchanged so as to alleviate the impact on passengers who travel by tram for their daily commute.  

      ​

Since the previous fare adjustment in July 2022, HKT has been facing competition from other modes of public transport.

Meanwhile, tram service patronage has not recovered to pre-pandemic levels and the potential to further increase non-fare box revenue, currently accounting for about 50% of HKT’s total revenue, is rather limited.

Moreover, operating costs and staff costs have been rising continuously, and the company will continue to invest in improvement projects, including the renewal of tram tracks and upgrading tram cars to provide more stable rides, as well as safer and more comfortable journeys.

Having considered all relevant factors, the Government considered the fare increase necessary for maintaining HKT’s stable operation and that the proposed increase level is acceptable.

After the fare increase, the tramway remains the most economical means of transport serving the northern shore of Hong Kong Island, the Government added.

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Executive Council gives consent to increase tramway fares

Source: Hong Kong Government special administrative region

Executive Council gives consent to increase tramway fares                                                                               (Change)
Persons aged 12 or above               $3.0                     $3.3
                                                                               (+$0.3)
Children (aged 3 to 11)                  $1.5                     $1.6
                                                                               (+$0.1)???
Since its last fare adjustment in July 2022, HKT has been facing competition from other modes of public transport. Patronage has not recovered to the pre-pandemic level, while the potential to further increase non-fare box revenue, currently accounting for about 50 per cent of HKT’s total revenue, is rather limited. At the same time, the operating costs and staff costs of HKT have been rising continuously. HKT will also continue to invest in improvement projects, including the renewal of tram track and upgrading tram cars in the fleet to provide passengers with more stable rides, safer and more comfortable journeys. In addition, HKT is expected to launch a new mobile application in the second quarter of this year to provide service information, such as real-time estimated times of arrival for passengers, thus improving their ride experience.  Issued at HKT 16:28

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Government of India Procures 100 Lakh Bales of Cotton Under MSP Operations through its Nodal Agency

Source: Government of India

Government of India Procures 100 Lakh Bales of Cotton Under MSP Operations through its Nodal Agency

38% of total cotton arrivals procured under MSP operations up to March 31, 2025

Rs 37,450 crore paid to cotton farmers

Telangana leads with 40 lakh bales, followed by Maharashtra WITH 30 lakh bales and Gujarat WITH 14.02 lakh bales

508 procurement centers operational

Direct Aadhaar-linked payments and digital tracking through the Cott-Ally mobile app

Posted On: 08 APR 2025 3:27PM by PIB Delhi

In current cotton season 2024-25, up to March 31, 2025, Government of India, through its nodal agency, the Cotton Corporation of India Ltd. (CCI) under Ministry of Textiles has successfully procured 525 lakh quintals of seed cotton, equivalent to 100 lakh bales, under Minimum Support Price (MSP) operations. This procurement accounts for 38% of the total cotton arrivals of 263 lakh bales and 34% of the estimated total cotton production of 294.25 lakh bales in the country.

Among the states, Telangana has recorded the highest procurement at 40 lakh bales, followed by Maharashtra with 30 lakh bales and Gujarat with 14 lakh bales. Other states with significant procurement include Karnataka (5 lakh bales), Madhya Pradesh (4 lakh bales), Andhra Pradesh (4 lakh bales), and Odisha (2 lakh bales). Procurement in Haryana, Rajasthan, and Punjab stands at 1.15 lakh bales.  In total, Rs.37,450 crore has been paid to approximately 21 lakh cotton farmers across all  cotton producing states.

The MSP mechanism continues to provide remunerative prices to cotton farmers, protecting them from distress sales when market prices fall below the MSP. To facilitate efficient procurement, CCI has opened 508 procurement centers nationwide. Several digital initiatives have been implemented, including on-spot Aadhaar authentication, SMS notifications for payments and 100% direct payments through the National Automated Clearing House (NACH).   The Cott-Ally mobile app, available in nine regional languages, enables farmers to access real-time information on MSP rates, procurement centers, and payment tracking.   Further, all cotton bales produced by CCI are traceable via QR codes, by using Block-chain technology to ensure transparency and accountability.

Government of India remains committed to safeguard interests of cotton farmers through a fair, transparent and efficient procurement process.

***

Dhanya Sanal K, IIS

Director

(Release ID: 2120025) Visitor Counter : 46

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SFST’s opening remarks on financial services at LegCo Finance Committee special meeting

Source: Hong Kong Government special administrative region

SFST’s opening remarks on financial services at LegCo Finance Committee special meeting 
Chairman and Honourable Members,
 
     I will briefly introduce the estimates of expenditure for financial services and our key areas of work in 2025-26.
 
Estimates of expenditure
 
The allocation to the Financial Services Branch (FSB) and departments under its purview for 2025-26 is around $1.6 billion. The allocation is decreased by around $0.6 billion over the revised estimate of last year, mainly due to the one-off provision of $200 million to the Accounting and Financial Reporting Council last year, but no such special expenditure is estimated for 2025-26. Secondly, most of the system development costs of the eMPF Platform have been settled in previous years, and the eMPF Platform Company Limited has to repay a one-off cash advance to the Government, resulting in a decrease in cash flow requirement for the Platform in 2025-26. Furthermore, allocation for various funding schemes/initiatives under the “Funding for promoting and facilitating the development of the financial services sector” in 2025-26 is revised.
 
Key areas of work
 
In the coming year, our work will focus on six main themes, namely, continuously supporting the vibrant development of stock market and initial public offering (IPO) market, facilitating asset and wealth management business, attracting enterprises, boosting fintech and innovation, deepening mutual access and international co-operation and taking forward institutional reforms continuously.
 
(i) To continuously support the vibrant development of the stock market and IPO market, Hong Kong Exchanges and Clearing Limited (HKEX) is taking forward the establishment of a dedicated “technology enterprises channel” (TECH) to further assist specialist technology and biotechnology companies in raising funds and expanding business, facilitating the relevant companies in preparing for listing applications. Meanwhile, the Securities and Futures Commission (SFC) and the HKEX will take forward a comprehensive reform to the listing regime and review the market structure to dovetail with the latest economic trends and corporate needs, attracting more Mainland and overseas issuers to raise funds in Hong Kong as well as investors to increase their allocation to Hong Kong stocks. In addition, we will take forward various measures in facilitating financing of overseas enterprises and specific products, improving trading and risk management efficiency, and promoting trading of Renminbi (RMB) stocks, thereby driving the high-quality development of the Hong Kong securities market and creating more new growth areas.
 
(ii) To facilitate the asset and wealth management business, we will formulate proposals on the preferential tax regimes for funds, single family offices and carried interest this year, including expanding the scope of “fund” under the tax exemption regime and increasing the types of qualifying transactions eligible for tax concessions for funds and single family offices. Our target is to submit the legislative proposals to the Legislative Council (LegCo) for consideration next year, and strive for the LegCo’s approval as soon as possible to apply the relevant measures with effect from the 2025-26 financial year. Furthermore, Invest Hong Kong has assisted over 160 family offices to set up or expand their businesses in Hong Kong. The third edition of the Wealth for Good in Hong Kong Summit, themed “Hong Kong of the World, for the World”, was successfully held last month, attracting around 360 family office principals and industry leaders, to showcase Hong Kong’s advantages as a leading global family office hub.
 
(iii) We strive to attract enterprises from the Mainland and around the world to set up headquarters or corporate divisions in Hong Kong. Meanwhile, we submitted a bill to the LegCo for the introduction of a company re-domiciliation mechanism to provide facilitation for companies domiciled overseas to re-domicile to Hong Kong. The scrutiny of the bill is approaching the final stage, and we are thankful to Members for their support. We will pursue the passage of the bill in May for it to take immediate effect.
 
(iv) We are at the forefront of fintech and are actively promoting innovation.
 
On virtual assets, we will soon promulgate a second policy statement on the development of virtual assets to explore the convergence of traditional finance and virtual assets, and will conduct consultation on the licensing regimes of virtual asset over-the-counter trading services and custodian services this year. The Stablecoins Bill submitted to the LegCo at the end of last year has also reached the final stage of scrutiny.
 
In terms of gold and commodities market, we established the Working Group on Promoting Gold Market Development last December, which will formulate a plan this year to enhance gold storage facilities, trading mechanisms, etc. The London Metal Exchange, a subsidiary of the HKEX, has included Hong Kong as an approved delivery point, further strengthening our market position.
 
We, together with the Office for Attracting Strategic Enterprises and the Hong Kong Trade Development Council, will host the inaugural Hong Kong Global Financial and Industry Summit this year, which will, through financial empowerment, attract more leading companies in advanced industries, domestic as well as overseas enterprises and investors to establish a foothold in Hong Kong.
 
On fixed income and currency hub, the SFC and the Hong Kong Monetary Authority (HKMA) have set up a task force to formulate a roadmap. We will also organise a flagship forum in the second half of this year to promote Hong Kong’s strengths in this regard. We will also conduct research into the current legal and regulatory regime related to the issuance and transactions of digital bonds and explore enhancement measures to promote the wider adoption of tokenisation in Hong Kong’s bond market.
 
(v) Hong Kong’s status as an international financial centre is inseparable from our connection with the Mainland and the world. To deepen mutual access and international co-operation, we will strive to enhance the mutual access mechanism. For example, we will explore extending the Cross-boundary Wealth Management Connect Scheme in the Greater Bay Area. Both places are also conducting technical preparations to implement the inclusion of RMB trading counter under Southbound trading of Stock Connect, and taking forward further expansion initiatives. Offshore RMB business is also being upgraded, with the liquidity pool expanding to approximately RMB1.1 trillion.
 
The Government and the HKEX will step up promotion in ASEAN (Association of Southeast Asian Nations) and the Middle East, foster financial co-operation, attract more enterprises to list in Hong Kong, and explore co-operation including listing of exchange-traded funds to promote two-way capital flows.
 
(vi) We will also take forward institutional reforms on different aspects continuously.
 
On improving trading and risk management efficiency, the HKEX is gradually conducting upgrades to its post-trade system to ensure technical compatibility with the T+1 settlement cycle by the end of this year, and will also put forward recommendations on improving the trading unit system (or so-called “board lot” system) within this year. In addition, to meet the risk management needs of investors, the SFC has consulted the market on the proposal to increase the position limits for key index derivatives, so as to enhance flexibility for investors to use the relevant derivatives while safeguarding financial safety.
 
On reforming the MPF (Mandatory Provident Fund) System, the MPFA (Mandatory Provident Fund Schemes Authority) commenced public consultation on the proposal of MPF “Full Portability” in late March, and will submit consultation conclusions and a legislative amendment proposal to the Government upon completion of the public consultation. Subject to the results of the public consultation, the Government will proceed with legislative amendments, so that MPF “Full Portability” could be launched soon after the full implementation of the eMPF Platform.
 
Chairman, my colleagues and I will be happy to answer Members’ questions. Thank you, Chairman.
Issued at HKT 17:57

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Appointments to Community Involvement Committee on Greening announced

Source: Hong Kong Government special administrative region

Appointments to Community Involvement Committee on Greening announced 
     The new non-official members are Dr Edmond Cheng Kam-wah, Ms Linda Ho Wai-ping, Ms Venus Kuk Wing-yee, Ms Grace Kwok May-han, Mr Lam Tak-shing, Dr Louis Lee Shing-him, Mr Warren Luk Hua and Dr Tse Wai-lok. The reappointed non-official members are Miss Linda Choy Siu-min, Dr Tony Ip Chung-man, Miss Trazy Kong Lok-yi, Ms Florence Tsui Ho-fun, Mr Wong Chung-leung and Ms Idy Wong Lai-yin.
 
     A spokesman for the DEVB said, “The CICG comprises members from various sectors including community, construction/property management, education, green groups/industry bodies and public relations. The Committee offers valuable insights and advice on the promotion of our greening efforts and related community involvement activities.”
 
     The spokesman also expressed gratitude to the nine outgoing non-official members, Dr Johnnie Chan Chi-kau, Ms Chan Man-kuen, Mr Cheng Ka-ho, Mr Cheung Yung-pong, Dr Jeffrey Hung Oi-shing, Ms Una Lau Yuk-min, Dr Caroline Law Man-yee, Dr Angie Ng Ying-sim and Ms Poon Wing-yi, for their invaluable advice and contributions to the CICG during their tenure.
 
     Appointed by the Secretary for Development, members of the CICG advise the DEVB on measures to encourage quality greening and nurture a culture of tree care through civic education and community involvement activities. The membership of the new term of the CICG is set out below:
 
Chairman
————
Permanent Secretary for Development (Works)
 
Non-official members
—————————
*Dr Edmond Cheng Kam-wah
Miss Linda Choy Siu-min
*Ms Linda Ho Wai-ping
Dr Tony Ip Chung-man
Miss Trazy Kong Lok-yi
*Ms Venus Kuk Wing-yee
*Ms Grace Kwok May-han
*Mr Lam Tak-shing
*Dr Louis Lee Shing-him
*Mr Warren Luk Hua
*Dr Tse Wai-lok
Ms Florence Tsui Ho-fun
Mr Wong Chung-leung
Ms Idy Wong Lai-yin
 
Official Members
———————
Secretary for Education or representative
Director of Agriculture, Fisheries and Conservation or representative
Director of Civil Engineering and Development or representative
Director of Environmental Protection or representative
Director of Home Affairs or representative
Director of Housing or representative
Director of Leisure and Cultural Services or representative
Deputy Secretary for Development (Works) 1
 
Secretary
————
Head of Greening, Landscape and Tree Management Section
 
* New non-official members
Issued at HKT 11:03

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2025 Rural Representative Election voter registration campaign starts

Source: Hong Kong Government special administrative region

2025 Rural Representative Election voter registration campaign starts 
There are three types of Rural Representatives, namely Indigenous Inhabitant Representatives (IIRs), Resident Representatives (ReRs) and Kaifong Representatives (KFRs). An IIR, returned by indigenous inhabitants, their spouses or surviving spouses of an Indigenous Village/Composite Indigenous Village, is to reflect views on the affairs of the village on behalf of its indigenous inhabitants, and to deal with affairs relating to the lawful traditional rights and interests and the traditional way of life of those indigenous inhabitants. An ReR, returned by residents (both indigenous and non-indigenous inhabitants) residing in an Existing Village, is to reflect views on the village affairs on behalf of its residents. A KFR, returned by residents residing in a Market Town (i.e. Cheung Chau and Peng Chau), is to reflect views on the affairs of the Market Town on behalf of its residents.
 
      “As the eligibility requirements for registration as electors vary for these elections, applicants should ascertain whether they meet the relevant requirements before registration,” an HAD spokesman said. 
     “Indigenous inhabitants, their spouses or surviving spouses who have been residing in an Existing Village or a Market Town for the three years immediately preceding the date of application for registration and meet the eligibility requirements for electors in the relevant election may register as electors for both the IIR Election and the ReR Election or the KFR Election through the submission of two separate applications for voter registration.” 
Application forms for new voter registration and change of registration particulars by an elector can be obtained from the HAD, Home Affairs Enquiry Centres and overseas offices of the Hong Kong Special Administrative Region Government, or downloaded from the RRE website. 
The HAD will roll out the voter registration campaign through the RRE website, posters, newspaper advertisements and more to encourage eligible persons to register as electors and remind registered electors to update their registration particulars by the deadline.Issued at HKT 10:00

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Remarks by CE at media session before ExCo (with video)

Source: Hong Kong Government special administrative region

     Following are the remarks by the Chief Executive, Mr John Lee, at a media session before the Executive Council meeting today (April 8):

Reporter: Chief Executive, two questions. Are there any concrete measures the Government would do to help local businesses affected by tariff and, in your perception, how would the tariff attack Hong Kong’s unemployment rate? And the second question is on the Panama deal, how should local companies respond to Beijing’s criticism, and would the antitrust probe and the possible failed deal affect people’s perception that companies in Hong Kong must ultimately answer to Beijing?
 
Chief Executive: Last week, the US announced the imposition of so-called reciprocal tariff on trading partners around the world, including an additional 34 per cent tariff on Hong Kong products. Together with the 20 per cent tariff announced earlier, the total tariff imposed on Hong Kong products is up to 54 per cent. The US no longer adheres to free trade, arbitrarily undermining the internationally established rules of world trade. Its ruthless behaviour damages global and multilateral trade. The reckless imposition of tariff affects many countries and regions around the world with huge tax rate increases covering a wide range of goods, disrupting the world economic and trade order, and bringing great risks and uncertainties to the world. In response to the US’s imposition of tariff, the Government will strengthen its strategy in seven areas.
 
     First, we shall fully seize the opportunities in our country, China’s development, and actively integrate into national development. China is the world’s second-largest economy and second-largest consumer goods market, with a domestic market of 1.4 billion people. Hong Kong will take full advantage of CEPA (Mainland and Hong Kong Closer Economic Partnership Arrangement) to attract more foreign companies to set up operations to capitalise on the benefits of “one country, two systems”. As of the end of last year, the accumulated tariff concessions on goods under CEPA exceeded RMB10.2 billion.
 
     Second, we shall strengthen international exchanges and deepen regional ties and co-operation. We shall sign more free trade agreements (FTAs) with countries and economies. Today, Hong Kong’s FTAs already cover 21 economies. We are currently negotiating investment agreements with Saudi Arabia, Bangladesh, Egypt and Peru. We will continue to push for Hong Kong’s early accession to the RCEP (Regional Comprehensive Economic Partnership) to deepen regional co-operation. We are already planning to establish economic and trade offices in Malaysia and Saudi Arabia. Additionally, Invest Hong Kong and the Hong Kong Trade Development Council have set up offices in Cairo, Egypt; Izmir, Türkiye; and Cambodia to proactively expand Hong Kong’s global trade and economic network.
 
     Third, Hong Kong will accelerate industrial transformation by developing a high value-added, innovation-driven economic model. We will expedite the establishment of a high value-added supply chain service hub and promote the growth of a headquarters economy.
 
     Fourth, we will intensify efforts to develop technological innovation, attract top-tier talent, and further strengthen Hong Kong’s competitiveness. We will focus efforts on establishing Hong Kong as a technological and Innovation hub, accelerating development of the Hetao (Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone) and San Tin Technopole, and continuing to attract top-tier talent and enterprises, particularly key strategic companies.
 
     Fifth, we will vigorously advance international financial co-operation to attract investments and capital. I, along with government officials, have conducted multiple visits to emerging markets to forge new partnerships. Notably, we engaged with ASEAN (Association of Southeast Asian Nations) and Middle East countries to establish mutual recognition with their stock exchanges.
 
     Sixth, we will seize the world’s major trend of geographical diversification, proactively attracting foreign companies and capital to establish in Hong Kong, because Hong Kong can provide security and stability to investors and enterprises under “one country, two systems”.
 
     Seventh, we will continue to provide various support to help Hong Kong enterprises to cope with the impact of tariff and external challenges, including capital flow assistance, export credit insurance measures, supporting Hong Kong enterprises in brand development, upgrading and exploring new markets through the BUD special fund (Dedicated Fund on Branding, Upgrading and Domestic Sales), etc.
 
     In respect to your question about Hutchison’s deal to sell some ports, I have earlier made three points, and they remain valid, clear and explicit. I will repeat them. First, there have been extensive discussions in society about the issue, and this reflects society’s concern over the matter. These concerns deserve serious attention. Second, the Hong Kong Special Administrative Region Government urges foreign governments to provide a fair and just environment for enterprises, including enterprises from Hong Kong. We oppose the abusive use of coercion or bullying tactics in international economic and trade relations. Third, any transaction must comply with legal and regulatory requirements. Hong Kong will handle it in accordance with the law and regulations. I have noted that the State Administration for Market Regulation of the PRC (People’s Republic of China) has noticed the deal, and will review it in accordance with the law to ensure fair market competition and protect public interest.
 
(Please also refer to the Chinese portion of the remarks.)

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Appointments to Board of Trustees and Council of Lord Wilson Heritage Trust announced

Source: Hong Kong Government special administrative region

Appointments to Board of Trustees and Council of Lord Wilson Heritage Trust announcedProfessor Douglas So Cheung-tak
 
Members:
Miss Linda Choy Siu-min
Ms Grace Kwok May-han
Mr Nixon Lau Wing-kwai
Mr Mason Wu Shang-tun
Mr Jason Joseph Lee Kwong-yee
Ms Lee Yuen-ting
Mr Eliott Hancock Suen
Professor Qin Rong
Ms Vivian Wong Man-lei
Ms Mary Yu Wah
Secretary for Culture, Sports and Tourism or her representative (Ex-officio)Professor Joshua Mok Ka-hoDr Chu Ming-kin
Ms Ho Kwan-shun
Mr Lai Chin-hong
Dr Li Kin-sum
Professor Qin Rong
Ms Mary Yu Wah
Director of Architectural Services or his representative
Secretary for Education or her representative
Deputy Secretary for Culture, Sports and Tourism or her representative (Ex-officio)
Issued at HKT 11:44

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