Yangjiang power plant event reported

Source: Hong Kong Information Services

The Security Bureau today said Guangdong’s Nuclear Emergency Committee Office notified it about an operational event at Yangjiang Nuclear Power Station.  

Yesterday, unit 3 of the station was undergoing a planned overhaul. Station staff carried out steam generator drainage operations while the protection signals had not yet been cancelled, triggering the automatic initiation signal for the auxiliary feed water pumps.

At present, the auxiliary feed water pumps concerned have returned to normal operation and the overhaul work is continuing as planned.

The deviation did not affect the unit’s safety, the workers’ health, the nearby public or the environment.

The bureau noted that the event was classified as a Level 0 deviation in accordance with the International Nuclear & Radiological Event Scale and the relevant nuclear safety regulations.

Hong Kong Customs holds information session on Duty Stamp System to listen to industry opinions and deepen collaboration

Source: Hong Kong Government special administrative region

Hong Kong Customs holds information session on Duty Stamp System to listen to industry opinions and deepen collaboration       
     During the session, Customs provided a detailed overview of the conclusion of the Pilot Run of the Duty Stamp System early this year, as well as an explanation of the overall framework and operational details of the system, covering the entire supply chain from the manufacturing premises to their sale at retail outlets. Customs will carefully study various suggestions put forward by industry representatives during the information session to continuously optimise the design and implementation details of the system.
      
     Following this information session, Customs also met with representatives of the newspaper stalls industry to specifically introduce the Duty Stamp System. Customs emphasised that the existing sales model will not change due to the Duty Stamp System, and Customs has always encouraged the industry to purchase cigarettes from trustworthy suppliers. In response to the industry’s concern regarding stamp authentication arrangements, Customs is conducting an in-depth assessment with technical consultants, researching options including distribution of dedicated authentication devices and enhancing auxiliary duty stamp recognition solutions to meet the practical needs of various retail environments. In addition to this meeting, Customs has previously held meetings with industry representatives through various channels, including the Dutiable Commodities Customer Liaison Group, tobacco affairs concern groups, and an association of the newspaper stalls industry. In the future, Customs will continue to actively communicate with the industry regarding the advancement of the Duty Stamp System and encourage industry participation to jointly promote the system and combat “cheap whites”. 
      
     Customs reiterated that the successful implementation of the Duty Stamp System relies on the participation and support of all stakeholders. Customs will continue to maintain close communication with all stakeholders and timely release the latest information to the tobacco retail industry through various channels, striving to build a collaborative platform with the industry. Hong Kong Customs will continue to organise more similar exchange activities and ongoing promotional efforts to foster a shared understanding before the system’s implementation, ensuring its effective rollout.
      
     Customs plans to implement the first phase of the Duty Stamp System in the fourth quarter this year, with full implementation in the second quarter of 2027, thus achieving the ultimate goal of effective distinguishment of duty-paid cigarettes from duty-not-paid ones, and to combat “cheap whites”.
Issued at HKT 18:45

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DH investigates illegal online sale of slimming product containing controlled drug ingredients

Source: Hong Kong Government special administrative region

DH investigates illegal online sale of slimming product containing controlled drug ingredients       
     Acting upon intelligence, the DH purchased a slimming product for analysis via an instant messaging application. The product’s paperboard packaging bore the English labels “KRN+PM” and “KOREAN PREMIUM”. Inside were 30 sealed packaging bags, each containing seven pills and capsules. There was Korean wording displayed on the product’s packaging that the product may have originated in Korea.
      
     Laboratory test results revealed that a sample of the orange, round tablet debossed with “Y|H” contained hydrochlorothiazide; and a sample of the green/yellow capsule with “TG” and “FLM” printing contained fluoxetine. Both substances are Part 1 poisons under the Pharmacy and Poisons Ordinance (Cap. 138) (PPO).
      
     The product is suspected to be an unregistered pharmaceutical product. The DH will continue to investigate the incident and take appropriate follow-up actions.
      
     Hydrochlorothiazide is used for the treatment of hypertension and its side effects include low blood pressure and electrolytes imbalance. Fluoxetine is used for treatment of depression and may cause hallucinations and insomnia. Medicines containing hydrochlorothiazide and fluoxetine should be used under a doctor’s direction and be supplied on the premises of an Authorized Seller of Poisons (commonly known as a pharmacy) under the supervision of a registered pharmacist upon a doctor’s prescription. 
      
     The DH strongly urges members of the public who have purchased the product concerned to stop consuming it immediately and reminded the public not to buy or consume products of doubtful composition or from unknown sources. Purchasing controlled medicines (including slimming drugs) online poses health risks. Besides the lack of a doctor’s assessment of an individual’s health condition, it is difficult to ascertain the legitimate source of the drugs. It is also impossible to know whether the drugs were properly stored during transportation (especially for drugs requiring cold-chain storage). This leaves their safety, quality and efficacy unguaranteed.
      
     The DH also reminded the public that selling medicines controlled under the PPO illegally, regardless of the sales channel (including instant messaging apps or social media), carries criminal liability. Do not risk breaking the law.
          
     According to the PPO, all pharmaceutical products must be registered with the Pharmacy and Poisons Board of Hong Kong before they can be legally sold in the market. Additionally, pharmaceutical products containing Part 1 poisons could only be sold at the registered premises of a pharmacy under the supervision of a registered pharmacist. If any contravention of the law is suspected, the DH will follow up and carry out enforcement action. After seeking advice from the Department of Justice, prosecutions against relevant persons may be initiated. Illegal sale or possession of unregistered pharmaceutical products or Part 1 poisons are criminal offences. The maximum penalty for each offence is a fine of $100,000 and two years’ imprisonment.
 
      The DH reminded the public that all registered pharmaceutical products should carry a Hong Kong registration number on the package in the format of “HK-XXXXX”. The safety, quality and efficacy of unregistered pharmaceutical products are not guaranteed.   
    
     People who have purchased the products concerned should stop consuming them immediately and consult healthcare professionals if in doubt or if they feel unwell after consumption. They may submit the products to the Drug Office of the DH at Room 1804-06, 18/F, Wing On Kowloon Centre, 345 Nathan Road, Kowloon, during office hours for disposal.    
          
     Weight control should be achieved through a balanced diet and appropriate exercise. The public should consult healthcare professionals before consuming any medication for weight control. They may visit the website of the Drug Office of the DH for “Health message on overweight problem and slimming productsIssued at HKT 18:30

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Hong Kong Customs detects suspected illicit cigarette distribution case in Yau Tong

Source: Hong Kong Government special administrative region

Hong Kong Customs detects suspected illicit cigarette distribution case in Yau Tong (with photo)     
     Customs officers conducted an anti-illicit cigarette operation in Yau Tong last night and intercepted a lorry parked on the roadside near a carpark of a shopping mall. Upon inspection, the batch of suspected illicit cigarettes was found inside the lorry, and a 41-year-old man, who claimed to be a transportation worker, was arrested. The lorry was also detained.
     
     The case is still under investigation. The arrested man has been released on bail pending further investigation. Customs will continue to trace the source of the illicit cigarettes. The likelihood of further arrests is not ruled out.
     
     Customs will continue its risk assessment and intelligence analysis for interception at source as well as through its multipronged enforcement strategy targeting storage, distribution and peddling to spare no effort in combating illicit cigarette activities.
 
     Customs stresses that it is an offence to buy or sell illicit cigarettes. Under the Dutiable Commodities Ordinance, any person who deals with, possesses, sells or buys illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.
      
     Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hkIssued at HKT 16:30

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Hong Kong Customs detects smuggling case involving river trade vessel with goods worth about $56 million seized

Source: Hong Kong Government special administrative region

Hong Kong Customs detects smuggling case involving river trade vessel with goods worth about $56 million seized (with photo)      
     Through intelligence analysis and risk assessment, the river trade vessel departing from Hong Kong for Macao was selected for inspection on the abovementioned date. Upon examination, Customs officers aboard the vessel found a large batch of suspected smuggled goods, including suspected pharmaceutical products, cosmetic injections, tobacco products, e-cigarette cartridges, watches, mobile phones, tablets and clothing.
      
     Investigations are ongoing. The likelihood of arrests is not ruled out.
      
     Being a government department primarily responsible for tackling smuggling activities, Customs has long been combating various smuggling activities on all fronts. Customs will keep up its enforcement action and continue to resolutely combat sea smuggling activities through proactive risk management and intelligence-based enforcement strategies, and carry out targeted anti-smuggling operations at suitable times to crack down on relevant crimes.
      
     Smuggling is a serious offence. Under the Import and Export Ordinance, any person found guilty of importing or exporting unmanifested cargo is liable to a maximum fine of $2 million and imprisonment for seven years upon conviction.
      
     Members of the public may report any suspected smuggling activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hkIssued at HKT 13:00

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Tender of one-year HONIA-indexed Floating Rate Notes to be held on February 4

Source: Hong Kong Government special administrative region

Tender of one-year HONIA-indexed Floating Rate Notes to be held on February 4      
     A total of HK$1.5 billion 1-year HKD Notes will be tendered. The Notes will mature on February 5, 2027 and will carry interest indexed to the Hong Kong Dollar Overnight Index Average (HONIA), payable quarterly in arrear.
      
     Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Notes on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk      
     Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK ) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.
       
HKSAR Institutional Government Bonds Tender Information 

Issue Number9.30 am to 10.30 amAugust 5, 2026
November 5, 2026
February 5, 2027 August 7, 2026
November 9, 2026
February 9, 2027 the Stock Exchange
of Hong Kong LimitedIssued at HKT 17:00

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Government posts land resumption notices for widening of Yuen Long Highway (section between Lam Tei and Tong Yan San Tsuen)

Source: Hong Kong Government special administrative region

Government posts land resumption notices for widening of Yuen Long Highway (section between Lam Tei and Tong Yan San Tsuen)      
     Twenty-one private lots with a total area of about 5 600 square metres will be resumed by the Government. The said land will revert to the Government upon the expiry of a period of three months from the date of affixing the notices (i.e. April 30).
      
     The Government will maintain close liaison with the relevant land owners and affected parties and properly handle their compensation and rehousing matters.
      
     The aforementioned road works aim to increase the carrying capacity of a section of Yuen Long Highway between Lam Tei Quarry and Tong Yan San Tsuen Interchange to cater for the traffic need arising from the future developments in the Northwest New Territories.
Issued at HKT 16:45

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HKMA and SFC jointly consult on standard calculation periods under OTC derivative Clearing Rules

Source: Hong Kong Government special administrative region

HKMA and SFC jointly consult on standard calculation periods under OTC derivative Clearing RulesNote 2: The Securities and Futures (OTC Derivative Transactions – Clearing and Record Keeping Obligations and Designation of Central Counterparties) Rules.
Note 3: Under the proposed approach to be effective from March 1, 2027 onwards, the Clearing Rules will be amended to designate two calendar periods, i.e., March 1 to May 31 and September 1 to November 30, in each year as calculation periods.
Issued at HKT 16:30

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Speech by SFST at Listing Ceremony of Hang Seng Gold ETF (English Only)

Source: Hong Kong Government special administrative region – 4

     Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Listing Ceremony of Hang Seng Gold ETF (exchange-traded fund) today (January 29):
 
Kelvin (Chairman of the Securities and Futures Commission, Dr Kelvin Wong), Luanne (Executive Director and Chief Executive of Hang Seng Bank, Ms Luanne Lim), Rosita (Director and Chief Executive Officer of Hang Seng Investment Management Limited, Ms Rosita Lee), ladies and gentlemen, and distinguished guests,
 
     Good morning. It is a great privilege to address you today as we mark a pivotal new chapter in Hong Kong’s financial market. With our determined efforts to position the city as a premier international gold trading hub, as indicated by the Chief Executive’s Policy Address, the listing of the Hang Seng Gold ETF represents strong support for this vision and contributes to the growth and innovation of Hong Kong’s gold market.
 
     In recent years, sovereign and financial investors have increasingly sought diversification for reserves and asset allocation. Gold’s attributes – as a commodity, an investment vehicle, and a safe-haven asset – have strengthened further, driving sustained price appreciation. Global gold demand in value terms surged 44 per cent year-on-year in the third quarter of last year, reaching a record US$146 billion. Gold ETF holdings also rose substantially, climbing by 222 tonnes in the quarter to exceed 3 800 tonnes, underscoring robust investor appetite amid geopolitical uncertainties and market volatility.
 
     We are delighted to welcome the listing of the Hang Seng Gold ETF. As the first ETF in Hong Kong that supports physical gold redemption at bank, it seamlessly blends the flexibility and liquidity of an ETF with the security of physical commodities. This enables smooth trading, secure storage, and flexible redemption – all conducted entirely within Hong Kong. We are also encouraged by the continued momentum of financial innovation here and look forward to even greater advancements. The exploration of distribution through licensed digital asset exchanges will help bridge traditional and digital finance, unlocking new opportunities.
 
     This initiative aligns fully with the vision set out in the Chief Executive’s 2025 Policy Address, which calls for accelerated development of a world-class international gold trading market. Key measures include establishing a central clearing system for gold in Hong Kong that provides efficient, reliable services in strict compliance with international standards, while inviting participation from the Shanghai Gold Exchange to facilitate collaboration with the Mainland.
 
     A landmark milestone was achieved this Monday with the signing of a co-operation agreement between my bureau and the Shanghai Gold Exchange at the Asian Financial Forum earlier this week. This partnership lays a solid foundation for Hong Kong’s gold central clearing system to connect with the Mainland market.
 
     The Hong Kong Precious Metals Central Clearing Company Limited, wholly owned by the Hong Kong SAR (Special Administrative Region) Government, will operate this system. Together with our partners, we will drive its efficient development, ensuring alignment with international standards and also promoting greater trust, transparency, and innovation in the gold market.
 
     In closing, I wish the listing every success. By working hand in hand with the market, we are building a more connected, efficient, and innovative gold ecosystem that benefits investors regionally and also globally. Thank you.