Author: MIL-OSI Publisher

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region – 4

​Hong Kong Customs today (June 20) conducted an enforcement operation at the Jewellery & Gem ASIA Hong Kong (JGA) being held at the Hong Kong Convention and Exhibition Centre (HKCEC), seizing about 50 pieces of suspected counterfeit jewellery with a total estimated market value of about $150,000.

Customs received information alleging that counterfeit jewellery was displayed for sale at some booths at the JGA which began yesterday (June 19) and will last for four consecutive days.

After an in-depth investigation and with the assistance of the trademark owners, Customs officers today conducted test-buy operations and seized about 50 pieces of suspected counterfeit jewellery, with a total estimated market value of about $150,000, from three booths.

During the operation, three men and two women, aged between 28 and 48, were arrested for being suspected of contravening the Trade Descriptions Ordinance. Three of them are persons-in-charge and two of them are staff members. An investigation is ongoing and the likelihood of further arrests is not ruled out.

Customs attaches great importance to combating infringing and counterfeiting activities and will deploy officers to different exhibitions to conduct inspections from time to time. Customs will contact the relevant trademark or copyright owners immediately to confirm the authenticity of the goods when suspected infringing or counterfeit goods are found. The department will also take enforcement action after investigations and with the assistance of the trademark or copyright owners.

Customs will continue to take stringent enforcement action. Booth exhibitors are reminded to respect intellectual property rights and not to sell counterfeit goods.

Under the Ordinance, any person who sells or possesses for sale any goods with a forged trademark commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years.

Members of the public may report any suspected counterfeiting activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Source: Hong Kong Government special administrative region

The Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council, Mr Xia Baolong, today (June 20) in Hong Kong, met with representatives of the commercial and financial sectors, and learned about Hong Kong’s major tourism development projects.

At an engagement session, Mr Xia interacted with representatives of Hong Kong’s commercial and financial sectors, including those from major chambers of commerce and enterprises. The session was also attended by the Chief Executive, Mr John Lee; the Financial Secretary, Mr Paul Chan; the Deputy Financial Secretary, Mr Michael Wong; the Secretary for Financial Services and the Treasury, Mr Christopher Hui; and the Acting Secretary for Commerce and Economic Development, Dr Bernard Chan.

In the afternoon, Mr Xia visited Ocean Park in the company of Mr Lee; the Secretary for Culture, Sports and Tourism, Miss Rosanna Law; the Chairman of the Board of the Ocean Park Corporation (OPC), Mr Paulo Pong; and the Chief Executive of the OPC, Mr Ivan Wong. 

Afterwards Mr Xia took a boat trip to Lamma Island with Mr Lee, Mr Wong and the Secretary for Development, Ms Bernadette Linn, to gain an understanding of the ex-Lamma quarry site’s development plan. Mr Xia also received briefings en route on major tourism development projects.

Source: Hong Kong Information Services

CPC Central Committee Hong Kong & Macao Work Office Director and State Council Hong Kong & Macao Affairs Office Director Xia Baolong today met representatives of the commercial and financial sectors, and learnt about Hong Kong’s major tourism development projects.
 
At an engagement session, Mr Xia interacted with representatives of Hong Kong’s commercial and financial sectors, including those from major chambers of commerce and enterprises.
 
The session was also attended by Chief Executive John Lee, Financial Secretary Paul Chan, Deputy Financial Secretary Michael Wong, Secretary for Financial Services & the Treasury Christopher Hui and Acting Secretary for Commerce & Economic Development Bernard Chan.
 
In the afternoon, Mr Xia visited Ocean Park in the company of Mr Lee, Secretary for Culture, Sports & Tourism Rosanna Law, Chairman of the Board of the Ocean Park Corporation (OPC) Paulo Pong and Chief Executive of the OPC Ivan Wong.
 
Mr Xia took a boat trip to Lamma Island afterwards with Mr Lee, Mr Wong and Secretary for Development Bernadette Linn to gain an understanding of the ex-Lamma quarry site’s development plan. Mr Xia also received briefings en route on major tourism development projects.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

​Following is the speech by the Financial Secretary, Mr Paul Chan, at the HKEX 25th Anniversary Celebrations today (June 20):
 
Deputy Director Yin Zonghua (Deputy Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region (HKSAR)), Deputy Commissioner Li Yongsheng (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the HKSAR), Carlson (Chairman of the Hong Kong Exchanges and Clearing Limited (HKEX), Mr Carlson Tong), Bonnie (Chief Executive Officer of the HKEX, Ms Bonnie Chan), Kelvin (Chairman of the Securities and Futures Commission (SFC), Dr Kelvin Wong), ladies and gentlemen,
 
Good evening. I’m delighted to be here on this special anniversary occasion. Delighted, too, that I get to strike the gong, in just a few minutes, with Carlson.
 
First and foremost, my warmest congratulations to HKEX on its 25th anniversary. The transformation of HKEX reflects the extraordinary rise of our country and Hong Kong, over the past quarter of a century, underlining our pivotal role in supporting the opening-up of the Mainland’s financial markets.
 
It’s a testament, too, to the bold and progressive reforms that have reshaped our listing regime. The HKEX itself is part of that reform, where the demutualisation of its predecessors and the listing of HKEX had opened up vast new horizons for growth and development. Since then, landmark initiatives such as the Connect Schemes, as well as the introduction of Chapter 18A and 18C, continue to unlock value and create fresh opportunities for market participants. 
 
As we celebrate these and many other achievements, it is also important to look ahead. With a solid foundation built over the past 25 years, what’s next?
 
Let us bear in mind that HKEX is far more than just another listed company. It is a cornerstone of our financial system, a trusted partner of the Government and regulators, and a key participant in safeguarding Hong Kong’s financial security and enhancing market competitiveness. In this connection, allow me to share a few observations important to the continuing success of HKEX and our financial sector.
 
First, internationalisation. Hong Kong has long been the premier listing venue for Mainland companies. Today, nearly 60 per cent of our 2 600 listed companies are from the Mainland. They account for over 80 per cent of total market capitalisation.
 
Amid growing geopolitical challenges, Hong Kong has become a safe harbour for international investors seeking to diversify their portfolios. With stronger market liquidity and an increasingly global investor base, HKEX can also emerge as a preferred listing platform for companies from ASEAN, the Middle East and other regions — especially those that find it challenging to access capital markets in the US or Europe.
 
I am pleased to note that HKEX has already taken critical steps in this direction, including recognising more overseas exchanges to enable dual-primary and secondary listings. These efforts can only enhance the diversity, depth and resilience of our market.
 
Second, embracing innovation. HKEX consistently demonstrates leadership in expanding product offerings. The development of our exchange-traded products’ market is a prime example. Since the launch of the Tracker Fund in 1999, our ETP market has grown significantly — covering a wide range of asset classes, including equities, bonds, derivatives and, most recently, digital assets. ETPs now account for over 15 per cent of total stock market turnover.
 
The opportunities in digital assets are vast. From tokenisation and smart contracts to the trading of real-world assets — it’s a new frontier for global finance, and Hong Kong must be at the forefront.
 
Equally promising is the development of innovative financial products to support the green transition, including carbon trading and other climate-focused instruments.
 
Third, enhancing market infrastructure and transaction efficiency. 
 
That includes shortening the settlement cycle. While markets in the US and Europe have already adopted or are moving to the T+1 settlement cycle, much of Asia is still assessing the path forward. HKEX, I’m pleased to say, should be technically ready for T+1 settlement by year’s end. I look to Hong Kong to become a first mover in the region.
 
And if Hong Kong is to maintain its status as a world-class financial centre, we must also continue to reduce transaction costs and enhance market efficiency.
 
Ladies and gentlemen, at this time of profound change and new challenges in global financial markets, Hong Kong must act decisively to capture the emerging opportunities.
 
With its strong foundation, strategic vision, global connectivity and staunch government support, HKEX is doing just that. And I am confident it will continue to lead and help our markets scale new heights.
 
Once again, congratulations HKEX on your landmark 25th listing anniversary. I wish you continuing success in the years to come. Hong Kong, and this speaker, is banking on it.
 
Thank you.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region