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Govt rejects UK report on HK

The Hong Kong Special Administrative Region Government today vehemently refuted, strongly disapproved of and firmly rejected the slandering remarks and ill-intentioned political attacks on the city under the successful application of “one country, two systems” in the so-called United Kingdom Six-monthly Report on Hong Kong: July to December 2022.   In a press statement, the Government again urged the UK to respect international law and the basic norms governing international relations and stop interfering in Hong Kong matters, which are purely China’s internal affairs.   Improved electoral system for patriots to administer HK The new electoral system has established the Legislative Council Election Committee Constituency which goes beyond the vested interests of various groups and districts, and broadened the representation in Hong Kong’s political structure in a balanced and orderly manner, thereby enhancing the city’s governance efficiency, the statement pointed out.   The sev
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Green bond issuance successful

The Government today announced the successful offering of RMB5 billion offshore renminbi green bonds under the Government Green Bond Programme.   This is the Government's inaugural offering of renminbi-denominated bonds. The offering comprises two tranches of RMB2.5 billion three-year and RMB2.5 billion five-year.   The green bonds saw strong demand from diversified group of investors despite recent market volatility, and 54% of the issuance size was distributed to banks, 35% to fund managers, private banks and insurance companies, and 11% to supranationals, official institutions and corporates.   Financial Secretary Paul Chan said this landmark offering by the Government further enriches the range of offshore renminbi financial products available in Hong Kong, consolidates the city's role as the premier offshore renminbi centre and contributes to promoting the internationalisation of the renminbi.   Mr Chan explained that the offering also strengthens the Hong Kong platform to better serve renminbi issuers who raise green financing in support of low carbon transition efforts.   “Together with the US dollar and euro-denominated green bond offerings last week, it demonstrates our continued commitment to further develop the green bond market through piloting issuances with different parameters,” he added.   The green bonds are expected to be settled on November 30 and listed on the Hong Kong Stock Exchange and the London Stock Exchange.   Proceeds raised under the programme will be used to fund projects that will improve the environment and facilitate the transition to a low carbon economy.
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