Source: Hong Kong Government special administrative region
Government posts land resumption notices for two urban renewal projects in To Kwa Wan(i) Ming Lun Street/Ma Tau Kok Road in To Kwa Wan (about 11 430 square metres); and
(ii) To Kwa Wan Road/Ma Tau Kok Road in To Kwa Wan (about 8 759 square metres).
If statutory claims made by the affected owners and tenants under the Lands Resumption Ordinance (Chapter 124) cannot be settled by agreement, the owners and tenants may apply to the Lands Tribunal for adjudication. Professional fees reasonably incurred by the claimants in making such claims may be reimbursed by the Government.
Issued at HKT 14:58
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Government posts land resumption notices for redevelopment of Sha Tau Kok Control Point and associated works
Source: Hong Kong Government special administrative region
Government posts land resumption notices for redevelopment of Sha Tau Kok Control Point and associated works
Twenty-five private lots with a total area of about 10 510 square metres in Sha Tau Kok 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. December 18).
The Government will maintain close liaison with the relevant land owners and affected parties, and properly handle compensation matters.
The Sha Tau Kok Control Point will be redeveloped under a cross-river construction approach and will adopt the “collaborative inspection and joint clearance” mode to enhance passenger clearance efficiency and experience. The design capacity of the redeveloped Sha Tau Kok Control Point will be increased to 40 000 passenger trips per day. To tie in with the “East-in-East-out, West-in-West-out” planning strategy for cross-boundary goods traffic, it will become a passenger clearance-only control point with the cargo clearance function being cancelled.
Issued at HKT 12:36
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Adjustment of Base Rate
Source: Hong Kong Government special administrative region – 4
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (September 17) that the Base Rate has been set at 4.25 per cent with immediate effect according to a pre-set formula.
The Base Rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through the Discount Window are computed. The Base Rate is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates (HIBORs), whichever is the higher.
Following the 25-basis point upward adjustment in the target range for the US federal funds rate on September 16 (US time), 50 basis points above the lower end of the prevailing target range for the US federal funds rate is 4.25 per cent, while the average of the five-day moving averages of the overnight and one-month HIBORs is 2.50 per cent. The Base Rate is therefore set at 4.25 per cent according to the pre-set formula.
Jobless rate rises to 3.8%
Source: Hong Kong Information Services
The seasonally adjusted unemployment rate increased from 3.7% in the May to July period to 3.8% in three months from June to August, the Census & Statistics Department announced today.
The underemployment rate also rose from 1.7% to 1.9% during the same period.
The number of unemployed persons (not seasonally adjusted) increased by around 8,200 to 153,900 in the June to August period, while the labour force rose by around 12,600 to 3,805,900.
Looking ahead, Secretary for Labour & Welfare Chris Sun said the continued expansion of the local economy is expected to underpin overall labour market conditions, though employment situations across various industries will continue to hinge on their respective business conditions.
He added that the potential impacts of evolving external uncertainties on corporate hiring sentiments still warrant attention.
Govt to resume land in To Kwa Wan
Source: Hong Kong Information Services
The Lands Department today posted land resumption notices in accordance with the Lands Resumption Ordinance to resume land in To Kwa Wan for two urban renewal projects. Affected interests will be reverted to the Government on December 18.
The two project sites are located at Ming Lun Street/Ma Tau Kok Road with an area of 11,430 sq m, and To Kwa Wan Road/Ma Tau Kok Road with an area of 8,759 sq m.
They will be redeveloped for residential use with retail/commercial facilities as well as ancillary parking facilities. The projects will also provide an open-air waterfront plaza, a waterfront promenade, and government, institution or community facilities.
A total of 934 property interests will be resumed by the Government. Apart from statutory compensation, eligible owners of domestic properties will also be offered an ex-gratia home purchase allowance or a supplementary allowance. Eligible domestic tenants will be offered rehousing or an ex-gratia allowance.
If statutory claims made by the affected owners and tenants under the Lands Resumption Ordinance cannot be settled by agreement, the owners and tenants may apply to the Lands Tribunal for adjudication. Professional fees reasonably incurred by the claimants in making such claims may be reimbursed by the Government.
Govt to resume Sha Tau Kok sites
Source: Hong Kong Information Services
The Lands Department today posted land resumption notices to facilitate the redevelopment of Sha Tau Kok Control Point and associated works.
The land resumption includes 25 private lots totalling 10,510 sq m at Sha Tau Kok. The sites will revert to the Government on December 18.
The redeveloped Sha Tau Kok Control Point will become a passenger clearance-only control point and adopt the “collaborative inspection and joint clearance” mode. Its design capacity will be increased to 40,000 passenger trips per day.
The Government said it will liaise with affected parties regarding compensation.
Base rate raised to 4.25%
Source: Hong Kong Information Services
The Monetary Authority today announced that it has increased the base to 4.25 % with immediate effect.
The increase followed the 25-basis point upward shift in the target range for the US federal funds rate on September 16.
The base rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through the Discount Window are computed.
It is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates, whichever is the higher.
Hong Kong Customs detects two dangerous drug cases at airport
Source: Hong Kong Government special administrative region
Hong Kong Customs detects two dangerous drug cases at airport
In the second case, a 29-year-old Mainland male passenger arrived in Hong Kong from Kuala Lumpur, Malaysia, today. During customs clearance, Customs officers found the batch of suspected cocaine with an estimated market value of about $750,000 in the shoes worn by him. He was subsequently arrested.
Investigation of the first case is ongoing. The arrested person in the second case has been charged with one count of trafficking in a dangerous drug and the case will be brought up at the West Kowloon Magistrates’ Courts tomorrow (September 17).Issued at HKT 22:44
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Hospital Authority welcomes First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) and the Chief Executive’s 2026 Policy Address
Source: Hong Kong Government special administrative region
The following is issued on behalf of the Hospital Authority:
The Hospital Authority (HA) welcomes the measures relating to healthcare service reform and the international health and medical innovation hub included in the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) and the Chief Executive’s 2026 Policy Address delivered by the Chief Executive, Mr John Lee, today (September 16). The measures, which are of far-reaching significance, will facilitate the sustainable development of the public healthcare system, enable early diagnosis and treatment for patients, provide services that meet patients’ needs, further accelerate the technological development of innovative drugs and medical devices, and strengthen the role of public healthcare as a safety net for all.
Remarks by CE at press conference on Hong Kong’s First Five-Year Plan and Policy Address
Source: Hong Kong Government special administrative region
The Chief Executive, Mr John Lee, held a press conference on the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030), and the Chief Executive’s 2026 Policy Address today (September 16). The Chief Secretary for Administration, Mr Chan Kwok-ki; the Financial Secretary, Mr Paul Chan; the Secretary for Justice, Mr Paul Lam, SC; and the Secretary for Constitutional and Mainland Affairs, Miss Janice Tse Siu-wa also attended. Following are the remarks at the press conference:
Reporter: Given that you have presented a detailed five-year plan for Hong Kong’s future development, can you share a ballpark figure for the projected economic returns from this plan? And my second question is: In the Policy Address, you proposed 11 measures to boost the birth rate. How likely is it that these measures will become permanent? And what do you think young couples will think of them?