Tuesday, May 14, 2024
Weather in Hong Kong It will be generally fine today. The day is dry, with highs of around 28 degrees. Blowing moderately to a clear easterly wind. There will be some sunshine in the next two or three days, and it will be dry during the day. There were a few showers over the weekend. The weather will be unstable at the beginning of next week.
Hong Kong news
■According to the official website of the Hong Kong and Macao Affairs Office of the State Council, on May 13, Xia Baolong, director of the Hong Kong and Macao Affairs Office of the Central Committee and director of the Hong Kong and Macao Affairs Office of the State Council, arrived in Macao for investigation and research. After arriving in Macao in the afternoon, Xia Baolong first inspected the construction site of the Macao Bridge, and then went to the Government House to meet with the Chief Executive and the heads of the executive, legislative and judicial organs of the HKSAR.
■According to the website of the Chinese Embassy in the United Kingdom, on the morning of May 13, the British police announced the indictment of three people, claiming that they had provided assistance to the intelligence services of the Hong Kong Special Administrative Region. China firmly opposes and strongly condemns the so-called case fabricated by the UK and its unreasonable accusations against the Hong Kong SAR Government. The Chinese side has lodged solemn representations with the British side in this regard.
■In response to the British police's announcement of the indictment of three people, claiming that they are suspected of violating the British National Security Law, the Hong Kong SAR government issued a statement on the 13th: The Chinese Embassy in the UK has issued a statement on this matter and has lodged solemn representations with the British side. The Hong Kong SAR Government has requested the UK Government to provide details of the alleged incident and is awaiting a reply.
■According to the website of the Office of the Commissioner of the Ministry of Foreign Affairs in Hong Kong, on May 13, the British police announced the indictment of three people, including Chinese citizens, on suspicion of providing assistance to the intelligence services of the Hong Kong Special Administrative Region. China strongly deplores and firmly opposes the UK's violation of the principles of international law and the basic norms governing international relations by fabricating charges and fabricating so-called cases, and slandering and smearing the Hong Kong SAR Government out of nothing.
■Jointly organized by the "Hong Kong Global Prosperity Summit", the Policy Research Center of Huixian Think Tank and the Shanghai Institute of International Studies, the "2024 Global Prosperity Summit" (Summit), Hong Kong's first non-governmental international forum focusing on geopolitical issues, was officially unveiled on the 13th. The Chief Executive, Mr John Lee, and the Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region, Mr Cui Jianchun, officiated at the ceremony, while about 200 representatives from around the world including business leaders, academic leaders, think tanks and investment institutions gathered at The Fullerton Ocean Park Hotel in Hong Kong to attend a welcome dinner to kick off the three-day event.
■The Legislative Council delegation led by President Leung Chun-yan continued its duty inspection in Kuala Lumpur, Malaysia on the 13th. The delegation visited the Malaysian Parliament in the morning, paid courtesy calls on the Speaker of the House of Commons, YB Tan Sri Dato' (Dr.) Johari Bin Abdul, and met with some members of the National Assembly to learn more about the Malaysian parliamentary system and current situation. The delegation also took the opportunity to introduce Hong Kong's latest developments in different fields, share the work of the Seventh Legislative Council, and exchange views on topics such as parliamentary affairs, economic and trade co-operation and promotion of social cohesion.
■The National Exit and Entry Administration announced last Saturday that eight more mainland cities will be allowed to open up the Individual Visit Scheme to Hong Kong and Macao from May 27, including Taiyuan in Shanxi Province and Harbin in Heilongjiang Province, bringing the number of eligible cities to 59. Secretary for Culture, Sports and Tourism Kevin Yeung said on the 13th that he would coordinate with relevant departments and relevant industry organizations to make it possible for visitors to experience Hong Kong's unique tourism characteristics at different scenic spots. Some people in the hotel industry said that this policy has greatly boosted Hong Kong, and Hong Kong hotels have sufficient carrying capacity to cope with it.
■The Secretary for Labour and Welfare, Mr Chris Sun, recently posted on social media platforms, questioning the current actions and decisions of the Social Workers Registration Board, which seriously deviate from the spirit of the Social Workers Registration Ordinance. Regarding the misunderstanding of the Chairman of the Social Workers Registration Council, Mr Ng Rui-ming, Sun Yuk-han said after attending a meeting of the Legislative Council Panel on Welfare Services on the 13th that as the Secretary of the Bureau, he is well aware of the work of the Social Workers Registration Board, and he has no misunderstanding, and there is no place for the current chairman to clarify.
■Recently, it has been reported on the Internet that a male teacher of Tin Shui Wai Secondary School was suspected of being arrested by the public security on suspicion of soliciting prostitutes during a delegation to Wuhan sponsored by the Education Bureau, and was unable to return to Hong Kong with the group. The Education Bureau replied to the media on the 13th that it would seriously deal with the case. The Education Bureau (EDB) held a Mainland study tour for newly recruited teachers in Wuhan from May 8 to 11, which ended as scheduled, but was informed before the return trip that a member of the group could not return to Hong Kong with the group and was suspected to have been arrested by the Mainland police for soliciting prostitution. The EDB indicated that it had requested the member and the school where he taught to submit a report, and would conduct a comprehensive review of the relevant information and would not make further comments at this stage.
■The police announced on the 13th that 474 telephone deception cases were recorded in the first quarter of this year, a year-on-year drop of about 20%, but the amount of loss increased by more than 3 times year-on-year to nearly HK$790 million.
■This year, the Federation of Hong Kong Guangdong Community Organizations, together with 28 hometown associations, including the Hong Kong Federation of Fujian Community Organizations, the Federation of Hong Kong Guangxi Community Organizations, the Federation of Hong Kong Hainan Community Organizations, and the Hong Kong Federation of Zhejiang Hometown Associations, will hold the second hometown market carnival in Victoria Park from June 1 to 5. This year's market is richer with 18 cooked food stalls; There are also 25 intangible cultural heritage booths for the public to immerse themselves in traditional Chinese culture.
■More than two months before the opening of the Paris Olympics, i-CABLE held the launching ceremony of the "2024 Paris Olympic Games" broadcast by HOY TV on the 13th, announcing that its three TV channels, including HOY International Financial Channel, HOY TV and HOY Information Channel, will fully broadcast the wonderful events of the Olympic Games.
■The Hong Kong Medical and Healthcare Device Industry Association and the Hong Kong Trade Development Council (HKTDC) co-organise the Medical Expo, and this year's "International Healthcare Week" will be held from 15 to 31 May, where buyers from all over the Asia-Pacific region will come to find the medical devices they need.
Financial
■Since the launch of Swap Connect in May last year, the trading and clearing mechanisms have been running smoothly, with the active participation of domestic and foreign investors, and the business volume has continued to rise. On the occasion of the implementation of the first anniversary, the People's Bank of China, the Hong Kong Monetary Authority and the Hong Kong Securities and Futures Commission jointly announced on the 13th that they support further optimization of the swap connect mechanism. The HKSAR Government warmly welcomes the series of new enhancement measures for Swap Connect.
■CLP (002) announced on the 13th that it would pay the first interim dividend of HK $0.63, the same as that of the previous year. In addition, electricity sales in Hong Kong increased by 3.7% year-on-year in the first quarter. CLP said that electricity consumption of all customer categories increased year-on-year due to the warmer weather driving electricity demand during the quarter and the effect of more days in February in leap years.
■ Wu Jiahua, assistant general manager of the personal digital financial products department of Bank of China Hong Kong (2388), said on the 13th that since the bank's first green private loan in 2022, the purpose of the loan has successively covered the purchase of electric vehicles and renewable energy projects, such as the installation of solar panels. As of the end of April this year, the number of green personal loan applications increased by 1.35 times year-on-year, and nearly 60% of all applications were aged 35 or below, reflecting the pursuit of green living among young customers.
■UOB announced its first-quarter results, with a core net profit of HK$9.2 billion, up 5% quarter-on-quarter, mainly driven by higher net fee income and record trading and investment income. UOB's Deputy Chairman and Chief Executive Officer, Mr Wong Yat Chung, said the bank's core business performed well, with higher fee income and record trading and investment income.
■Cheung Kong (1113) Real Estate Senior Sales Manager Leung Cheuk Hang said that Hung Shui Kiu #LYOS launched 14 strata units, with a 25% discount from similar units earlier, with a practical 202 square feet and an admission fee of HK$2.999 million. In addition, 14 garden duplex households were launched, with a 32% discount from the price at the end of 2021, with a total price starting from HK$11.31 million and a maximum of HK$12.836 million.
■The Shenzhen Stock Exchange website issued an announcement on the delivery of the "Advance Notice of Disciplinary Punishment" on the 13th, proposing to give Xia Haijun, the then director of China Evergrande, the punishment of publicly determining that he is not suitable to serve as a director, supervisor, senior manager of the bond issuer for life and publicly reprimanding.
■ Eastern time on Monday, the three major U.S. stock indexes were mixed, and the Dow ended its eight-day winning streak. At the close, the Dow fell 81.33 points, or 0.21%, to 39,431.51; The Nasdaq rose 47.37 points, or 0.29%, to 16,388.24; The S&P 500 fell 1.26 points, or 0.02%, to 5,221.42. Retail investors made a comeback with the concept of stocks, and Game Station (GME) closed up 74.52%, up nearly 120% intraday; AMC Entertainment Holdings closed up 79.73%, up more than 102% at one point during the session.
■On May 13, local time, the Central Bank of Brazil raised the country's gross domestic product (GDP) growth forecast for 2024 from 2.05% to 2.09%, and maintained its growth forecast for 2025 at 2%. In addition, the Central Bank of Brazil raised its inflation forecast for the country from 3.72% to 3.76% in 2024 and from 3.64% to 3.66% in 2025.
■Due to the strong US dollar relationship, the exchange rate of the Vietnamese dong has repeatedly hit new lows in recent days. In addition, a series of new challenges facing Vietnam's domestic economy and financial markets have intensified, and the domestic gold rush has intensified. Many downtown gold shops in Hanoi and Ho Chi Minh City have sold out of gold commodities, and gold prices have repeatedly broken record highs. The price of gold bars now stands at VND92.4 million (US$3,629.51) per tael, nearly 28% higher than the global gold price. Gold analysts said that as the Vietnamese dong exchange rate continues to fall in the short term, the trend of people buying gold as a store of value and hedging will only get stronger.
synthesis
■According to the website of the Ministry of Foreign Affairs, on May 13, 2024, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with South Korean Foreign Minister Cho Doi-yeol in Beijing. Wang Yi said that China and the ROK are close neighbors and should come and go frequently. Over the past 30 years since the establishment of diplomatic relations, the overall development of bilateral relations has been smooth and fruitful. The two sides established a strategic partnership in 2008 to give more importance to their respective diplomatic relations. China and the ROK have achieved mutual achievements and common development in exchanges and cooperation, and contributed to regional peace and prosperity, which fully demonstrates that the development of China-ROK relations is in line with the trend of the times and reflects the will of the people. Recently, China-ROK relations have faced difficulties and challenges, which are not in the common interests of both sides and are not what China wants to see.
According to Xinhua News Agency, Geng Shuang, China's deputy permanent representative to the United Nations, spoke at a open meeting of the Security Council on Yemen on the 13th, calling for a solution to the Yemen issue through political and diplomatic means. Geng Shuang said: To solve the Yemen issue, we must rely on political and diplomatic means. All parties concerned should focus on the common well-being of the Yemeni people, adhere to the general direction of political settlement, eliminate interference, work in the same direction, and jointly advance a comprehensive political process that is "led and owned by people". All parties, especially those countries that have influence on the situation in Yemen, should play a constructive role in that regard. Geng Shuang said that to solve the Yemen issue, it is necessary to promote the cooling of the situation in the Red Sea as soon as possible.
■The registration date for the 77th World Health Assembly will close on the 13th, and Taiwan will once again be unable to participate in the World Health Assembly. Chen Binhua, spokesman for the Taiwan Affairs Office of the State Council, answered a reporter's question on the same day. Chen Binhua pointed out that on the issue of China's Taiwan region's participation in the activities of the World Health Organization, our position is consistent and clear, that is, it must be handled in accordance with the one-China principle, which is also the fundamental principle affirmed by the UN General Assembly in Resolution 2758 and the World Health Assembly in Resolution 25.1. The DPP authorities stubbornly adhere to the separatist stance of "Taiwan independence" and refuse to recognize the "consensus of '92," with the result that the political basis for Taiwan's participation in the WHA no longer exists. The inability of the Taiwan region to attend the meeting was entirely caused by the DPP authorities.
■According to China Weather Network, three days from today (May 14th to 16th), most of China will have weak rainfall, sunny days in the north will be online, and most of the south will also usher in an intermittent period of precipitation. Due to the abundant sunlight, the radiation temperature in the north has increased significantly, and the warm heat will reach the peak in the near future from the 17th to the 18th.
international
■In the early morning of May 14, Beijing time, OpenAI held a "Spring Update" event. Mira Murati, the company's chief technology officer, revealed a number of ChatGPT-related updates to the outside world. Among them, the newly released GPT-4o multi-modal large model is faster and cheaper than GPT-4 Trubo. It is reported that ChatGPT free users can also have the opportunity to experience GPT-4o, but when the limit is reached, ChatGPT will automatically switch to GPT-3.5.
Hong Kong Commercial Daily
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■ Osama Rabi, chairman of the Suez Canal Authority (SCA), said that since November 2023, nearly 3,400 ships have been forced to change routes and not enter the Suez Canal due to heightened tensions in the Red Sea, Sputnik news agency reported.
■According to Singapore's "Lianhe Zaobao", on the 13th local time, Singapore Prime Minister Lee Hsien Loong submitted his resignation to President Shanmatthorn. According to reports, Singapore's president accepted the resignation of Lee Hsien Loong and the government, and the resignation will take effect from the 15th. Prime Minister-designate Lawrence Wong has accepted the president's invitation to form a government.
■According to CCTV News, citing the Japan Broadcasting Association (NHK) on the 14th, at about 7:30 in the morning, a 7-car serial collision occurred on a highway in Toda City, Saitama Prefecture, Japan, and at least 2 vehicles caught fire. Fire extinguishing activities are still ongoing, and police are confirming whether there are any casualties.
■According to CCTV News, Jake Sullivan, assistant to the US president for national security affairs, said at a White House briefing on May 13 local time that the United States is working hard to deliver more "Patriot" missile defense systems to Ukraine. Sullivan said that the current U.S. military aid for Ukraine is already working on the front line, and another batch of military aid will arrive in Ukraine in the coming days.
■According to the "Kyiv Independent", on the 13th local time, Ukrainian President Volodymyr Zelensky signed a decree to remove Andrei Alekshenko, the first deputy director of the Ukrainian Foreign Intelligence Service. In a subsequent decree, Zelensky appointed Oleg Lukhovsky as the first deputy head of the Foreign Intelligence Service of Ukraine.
■According to Chinanews.com, the Indonesian National Disaster Resilience Agency reported on the 13th that the death toll from the floods in West Sumatra Province has reached 43. This data is based on a report received by the Agency at 13:00 local time on May 13. Of the 43 people killed, 19 were in Forrest Gump, 14 in Tanah Datta district, eight in Padang Paryaman district and two in Padang Panjang district.