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Youth commission meets

Chief Secretary John Lee today chaired the Youth Development Commission's ninth meeting where members welcomed the new youth development initiatives and the direction of reorganising the Government structure to foster and support youth development in the 2021 Policy Address.   The commission will actively follow up on the Chief Executive’s invitation to explore the introduction of a new funding scheme to subsidise eligible non-governmental organisations (NGOs) to organise projects that are conducive to nurturing young people's positive thinking.   It will roll out a new thematic funding scheme on outdoor adventure training activities for more NGOs to provide systematic and quality outdoor adventure training activities for young people.   Members were also briefed on the latest progress of the Funding Scheme for Youth Entrepreneurship in the Guangdong-Hong Kong-Macao Greater Bay Area and the Greater Bay Area Youth Employment Scheme, as well as the details of relevant Polic

iBond allocation announced

Subscription and allocation results for the eighth inflation-linked iBond were released today, with each valid application to be allocated up to three units.   A total of 709,198 valid applications were received for more than $53.9 billion in principal amount of bonds. The final issue amount is $20 billion.   Financial Secretary Paul Chan said the latest issuance of the iBond has been warmly received by the public, with both the volume of applications and the total application amount achieving record highs since the iBond's inaugural issuance in 2011.   He noted that the issuance of the iBond provided the public with a safe investment choice of steady return under the current low interest rate and uncertain investment environment.   It also further enhanced the investing public's interest in and awareness of bond investments, thereby promoting the development of the retail bond market in Hong Kong, he added.   The 55,381 applications for two units or less will be allocated the full amount.   The other 653,817 applications for more than two units will be allocated two units each, while 605,727 will be allocated one additional unit after a ballot.   The iBond will be issued on June 23 and listed on the Stock Exchange on June 24.  
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