Category: MIL-OSI

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Hong Kong Monetary Authority:

The enhancement arrangements for offshore RMB bond repurchase (repo) business was officially launched today (August 25).

In July 2025, the Hong Kong Monetary Authority (HKMA) announced enhancements to the offshore RMB repo business to support rehypothecation of bond collaterals (Note) and cross-currency repo (please refer to the HKMA press release). The enhancements have been well received by the market. The trading has been running orderly on the first trading day today. At least 25 financial institutions, including all the market makers, banks, securities firms, asset management companies and hedge funds, conducted more than 60 transactions amounting to an equivalent of over RMB3 billion in different settlement currencies including RMB, HKD, USD and EUR.

The HKMA will continue working with Mainland authorities and the industry to promote offshore RMB repo business, and create more policy headroom and an enabling environment for the development of Hong Kong’s offshore RMB market.

Note: Bond collaterals can be re-used during the repo period in four specific use cases: (1) for re-use in offshore repo transactions; (2) as collateral for the HKMA’s RMB Liquidity Facility; (3) as margin collateral at OTC Clearing Hong Kong Limited (OTCC); and (4) for cash bond trading through Northbound Bond Connect. 

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

     The Chief Executive, Mr John Lee, witnessed the presentation of plaques to 15 State Key Laboratories (SKLs) in Hong Kong by the Minister of Science and Technology, Mr Yin Hejun, during a presentation ceremony today (August 25). The Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Mr Zhou Ji, also attended the ceremony.
 
     Before the ceremony, Mr Lee met with Mr Yin to exchange in-depth views on deepening the research and development collaboration between the Mainland and Hong Kong. The Secretary for Innovation, Technology and Industry, Professor Sun Dong; the Under Secretary for Innovation, Technology and Industry, Ms Lillian Cheong; and the Commissioner for Innovation and Technology, Mr Ivan Lee, were also present at the plaque presentation ceremony and the meeting.
 
     Mr Lee expressed his gratitude to the Ministry of Science and Technology (MOST) for its unfailing support for the work of the Hong Kong Special Administrative Region Government, higher education institutions and SKLs in Hong Kong. He said that having been accredited the status of SKL by the MOST, these labs demonstrated their world-class capabilities in basic research, technological innovation, and the development of key core technologies.

     “Under the principle of ‘one country, two systems’, Hong Kong has the advantage of enjoying strong support of the motherland and being closely connected to the world and actively plays the role as a ‘super connector’ and ‘super value-adder’. The SKLs in Hong Kong serve as an important platform for bringing together outstanding researchers from all over the world by establishing partnerships with top universities and research institutions at home and abroad, helping to build Hong Kong into a hub for international high-end talent.”

     The MOST agreed in 2018 that Partner SKLs in Hong Kong that were paired up with SKLs on the Mainland could be renamed as SKLs. To align with the overall national development plan, the ITC initiated the restructuring exercise of the SKLs in Hong Kong in late 2023. The MOST approved the restructuring of 15 SKLs in Hong Kong in January 2025. These SKLs have come into operation since July 1, 2025.

Source: Hong Kong Information Services

The Guangdong and Hong Kong governments have reached an agreement to allow cross-boundary private cars with closed road permits of Heung Yuen Wai boundary control point (BCP) to cross the boundary via Lok Ma Chau BCP between midnight and 6.30am daily starting tomorrow, the Transport Department announced.

 

Apart from explaining that such arrangements will strengthen greater integration of Guangdong and Hong Kong and enhance clearance efficiency, the department highlighted that both places will closely collaborate to inject momentum into their economic development.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region – 4

The Government announced today (August 24) a new round of enhancement measures of the “M” Mark System and its implementation arrangements.

The Culture, Sports and Tourism Bureau (CSTB) and the Major Sports Events Committee (MSEC) have reviewed and concluded the experiences and outcome of the enhancement measures implemented in April 2023, and announced measures to further enhance “M” Mark System. By refining the vetting criteria and funding mechanism, the new round of refined measures aims to optimise the use of resources and maximise the benefits of government funding. At the same time, it ensures the quality and attractiveness of “M” Mark events, strengthens events’ appeal to spectators and visitors as well as enhances economic benefits.

The details of the new round of enhancement measures of the “M” Mark System are as follows:

(1) Adjusting the vetting criteria to provide funding support in accordance with the vetting result of individual events

• The vetting criteria will be refined to better reflect the importance of sports development contribution for “major sports events”; and the importance of tourism promotion and local economy impact for “exhibition matches/tournaments”;
• Under the refined vetting criteria, “major sports events” that have significant benefits on tourism promotion and the local economy, depending on the circumstances, may also apply as “exhibition matches/tournaments”;
• The total funding ceiling for each event (i.e. direct grant and matching fund) will range from $6 million to $15 million based on the vetting result as assessed against the refined vetting criteria for more effective resources allocation. In other words, not every approved application will receive the maximum funding of $15 million (including direct grant and matching fund);
• To encourage organisers to gradually increase the amount of private sponsorship sought, the direct grants for new “major sports events” will be provided on a sliding scale from the maximum amounts of $6 million (first year), $5 million (second year) to $4 million (third year) so as to promote the development of sports as an industry; and
• The ceiling of the venue hiring grant for “M” Mark events will be increased from $1 million to $3 million for non-Leisure and Cultural Services Department venues or Hong Kong Stadium on a pilot basis so as to support the need to stage mega sports events at different venues.

(2) Adjusting selection criteria

• To adopt a strategic approach and explore long-term partnership (i.e. more than one year) with sports events which are able to bring significant economic benefits to Hong Kong.

(a) “Major sports events”

• The “M” Mark System will focus on supporting world-class “major sports events” (i.e. open competitions rather than age group-specific events) to enhance the efficiency and effectiveness of government funding; and
• Funding support will only be provided to one event of higher-level per year for a series of championships/tournaments organised to ensure the diversity of the “M” Mark event calendar.

(b) “Exhibition matches/tournaments”

• The MSEC will adopt a fixed application cycle for accepting and processing applications for “exhibition matches/tournaments”. Applications received within the same application cycle (i.e. six months) will be processed and considered together based on their merits (such as the attractiveness of participating athletes/teams and economic benefits). Under normal circumstances, the MSEC will select a maximum of three “exhibition matches/tournaments” in the same cycle to avoid multiple events organised in the same period and thereby reducing their economic viability and benefits. The MSEC requires organisers to submit applications within the same cycle, encouraging them to plan thoroughly in advance. This approach also allows the MSEC to consider all applications received in the same cycle in one go so as to select the most worthwhile events and decide the corresponding level of funding support; and
• The application cycles and deadlines for “exhibition matches/tournaments” are as follows:

Date of exhibition match	Application deadline
First half of every year (January 1 to June 30)	On or before June 30 of the last year
Second half of every year (July 1 to December 31)	On or before December 31 of the last year

Note: For “exhibition matches/tournaments” held in the first half of 2026 (i.e. January 1 to June 30, 2026), the application deadline will be extended to September 30, 2025 as a special transitional arrangement.

(3) Enhancing vetting procedures and application requirements

• Applicants must submit their applications at least six months prior to the hosting or announcement of the “M” Mark event (e.g. holding a press conference). This encourages organisers to plan thoroughly and ensure better promotional effectiveness for “M” Mark events.

(4) Strengthening monitoring and reporting mechanisms

• After signing of the Terms and Conditions for funding support and providing documents/proof demonstrating the amount of cash sponsorship secured, organisers may receive a maximum of 50 per cent of the eligible matching fund before the events are held;
• CSTB will continue the current practice to conduct checks (including on-site inspection) with respect to the content of the Terms and Conditions for funding support and items in the evaluation report to monitor and evaluate the events. Should organisers fail to hold the events in accordance with their proposals (including player(s) line up, number of spectators, sports development plans, marketing and promotion plans) or fail to meet the key performance indicators (including tourism promotion and economic impact), the MSEC will assess the actual outcomes of the events and may adjust the final amount of funding support; and
• Organisers are required to appoint an independent professional agent to conduct exit survey with participants (including visitors) and submit reports so as to evaluate the effectiveness of the events (including attendance and economic benefits) more effectively.

The above enhancement measures will apply to all applications received after September 15, 2025. For details of the “M” Mark events and the latest application guidelines, please visit www.mevents.org.hk/en/application.php.

The “M” Mark System was established in 2004, which aims to encourage and help local National Sports Associations and private or non-government organisations to organise more major international sports events and nurture them into sustainable undertakings. Sports events meeting the assessment criteria will be considered for “M” Mark status by the MSEC. Funding support will also be provided to some events. The “M” Mark System is to promote the development of major sports events, instill a sustainable sporting culture, enhance Hong Kong’s image as a centre for major international sports events and bring tangible economic benefits to our community.

Source: Hong Kong Government special administrative region – 4

     To facilitate cross-boundary private cars with Heung Yuen Wai (HYW) boundary control point (BCP) quotas in crossing the border outside its operating hours, the Transport Department (TD) today (August 25) announced that the Guangdong and Hong Kong governments had reached an agreement to allow cross-boundary private cars with Closed Road Permits (CRPs) of HYW BCP to cross the boundary via Lok Ma Chau (LMC) BCP between 12 midnight and 6.30am daily with effect from August 26. 
 
     A spokesman for the TD said that the arrangements will strengthen greater integration of Guangdong and Hong Kong and enhance clearance efficiency. Guangdong and Hong Kong will continue to closely collaborate to inject momentum into the economic development of both places.
 
     The TD has sent letters to notify the CRP holders of cross-boundary private cars using HYW BCP about the arrangements. They may cross the border via LMC BCP with valid CRPs of HYW BCP during the aforementioned designated period.
 
     Currently, cross-boundary private cars issued with CRPs of Shenzhen Bay Port, Man Kam To and Sha Tau Kok BCPs can use LMC BCP overnight.

Source: Hong Kong Government special administrative region – 4

     The Transport Department (TD) today (August 25) said that major public transport operators (PTOs) have been reminded to provide adequate services on the first school day (September 1) and enhance service frequencies and deploy standby trains, vehicles, vessels and manpower when necessary to meet passenger demand. Motorists are advised to avoid driving to school areas.

     A spokesman for the TD said, “We have sought information from the Education Bureau on the location of new schools and students’ cross-district commutes, thereby reviewing the neighbouring traffic and transport arrangements. Special routes serving school areas will be resumed. Local franchised bus operators providing services connecting land boundary control points (BCPs) and cross-boundary coach operators have been reminded to provide adequate services for cross-boundary students. We have requested relevant departments to review road works being or to be carried out on major roads to minimise their impact on traffic at the commencement of the new school year.”

Enhanced surveillance

     The operation of the TD’s Emergency Transport Co-ordination Centre (ETCC) will be escalated to the highest tier, the Joint Steering Mode, on the morning of September 1 to jointly and closely monitor the real-time traffic and public transport services on the first school day in collaboration with the Police and major PTOs. Staff will be deployed at major public transport interchanges, stations, school areas (such as Braemar Hill in North Point, Kowloon Tong, Po Kong Village Road in Wong Tai Sin and Kwai Shing Circuit in Kwai Chung), land BCPs and tunnels across the territory for on-site monitoring. They will report the latest situation to the ETCC for service enhancement and implementation of traffic management measures accordingly where necessary.

Appeals

(1) Students should familiarise themselves early with public transport routes to and from their schools and the service frequencies, especially those attending a new school. The TD anticipates that the overall road traffic on that day will be busier and urges students to allow more time and pay attention to the latest traffic information. They should also take heed of road safety on their journeys, properly use crossing facilities to cross the road, and not use a mobile phone, listen to any audio device, play mobile games, eat or drink when crossing the road;

(2) Parents, guardians or private car drivers carrying child passengers should choose and use a suitable Child Restraining Device (CRD), such as a child safety seat, that is appropriate for children’s body size and complies with relevant standards for child passengers aged below 8 and less than 1.35 metres in height as soon as possible in the new school year to meet the new statutory requirements with effect from November 1; and

(3) Drivers of nanny vans and school buses should heighten their vigilance and drive carefully. An escort must be provided on board when serving kindergarten or primary school students. Escorts should assist students to wear seat belts if provided, and ensure that they and all students have properly buckled up before departure. Students should never be left unattended in the vehicles.

     The TD’s ETCC will release the latest information as appropriate. Members of the public are advised to heed the latest traffic news through the TD’s website (www.td.gov.hk), the HKeMobility mobile application and radio and television broadcasts. For enquiries, please call the TD’s hotline on 2804 2600 or 1823. Details of the PTOs’ services are also available on their hotlines and websites:
 

Public transport operator	Hotline	Website
MTR	2881 8888	www.mtr.com.hk
Citybus	2136 8888	www.citybus.com.hk
Kowloon Motor Bus	2745 4466	www.kmb.hk
Long Win Bus	2261 2791	www.lwb.hk
New Lantao Bus	2984 9848	www.nlb.com.hk
Sun Ferry	2131 8181	www.sunferry.com.hk
Hong Kong and Kowloon Ferry	2815 6063	hkkf.com.hk

Source: Hong Kong Government special administrative region – 4

     The Electrical and Mechanical Services Department (EMSD) today (August 25) announced an adjustment to the auto-LPG (liquefied petroleum gas) ceiling prices for dedicated LPG filling stations from September 1 to September 30, 2025, in accordance with the terms and conditions of the contracts for dedicated LPG filling stations.

     A department spokesman said that the adjustment on September 1, 2025, would reflect the movement of the LPG international price in August 2025. The adjusted auto-LPG ceiling prices for dedicated LPG filling stations would range from $3.22 to $4.14 per litre, amounting to a decrease of $0.24 per litre. 

     The spokesman said that the auto-LPG ceiling prices were adjusted according to a pricing formula specified in the contracts. The formula comprises two elements – the LPG international price and the LPG operating price. The LPG international price refers to the LPG international price of the preceding month. The LPG operating price is adjusted on February 1 and June 1 annually according to the average movement of the Composite Consumer Price Index and the Nominal Wage Index. 

     The auto-LPG ceiling prices for respective dedicated LPG filling stations in September 2025 are as follows:
 

Location of dedicated LPG filling station	Auto-LPG ceiling price in September 2025 (HK$/litre)	Auto-LPG ceiling price in August 2025 (HK$/litre)
Kwai On Road, Kwai Chung	3.22	3.46
Sham Mong Road, Mei Foo	3.28	3.52
Wai Lok Street, Kwun Tong	3.34	3.58
Cheung Yip Street, Kowloon Bay	3.38	3.62
Ngo Cheung Road, West Kowloon	3.39	3.63
Yuen Chau Tsai, Tai Po	3.45	3.69
Tak Yip Street, Yuen Long	3.56	3.80
Hang Yiu Street, Ma On Shan	3.58	3.82
Marsh Road, Wan Chai	3.59	3.83
Fung Mat Road, Sheung Wan	3.61	3.85
Yip Wong Road, Tuen Mun	3.71	3.95
Fung Yip Street, Chai Wan	4.14	4.38

     The spokesman said that the details of the LPG international price and the auto-LPG ceiling price for each dedicated LPG filling station had been uploaded to the EMSD website (www.emsd.gov.hk) and posted at dedicated LPG filling stations to enable the trades to monitor the price adjustment.

     Details of the pricing adjustment mechanism for dedicated LPG filling stations can also be viewed under the “What’s New” section of the department website at www.emsd.gov.hk/en/what_s_new/current/index.html.