Hong Kong stocks, financial institutions and policies or data affecting local markets.
Translation is not available yet. Showing the Traditional Chinese version.
財政司司長解讀中證監擴展互聯互通的三項舉措，包括將合資格在港主要上市海外企業證券納入港股通、研究在港股通增設人民幣股票交易櫃檯，以及支持香港推出國債期貨。政府已就雙幣股票莊家制度作準備，計劃年內向立法會提交條例草案。
Why read this: 司長逐一拆解三項互聯互通新舉措對港股流通量、雙幣交易和國債風險管理的影響，並交代莊家制度與條例草案的時間表。
The manager appointed by the Insurance Authority has filed a winding-up petition against Tai Ka Insurance Company Limited, alleging that Tai Ka is insolvent and has breached statutory regulatory requirements. About 30,000 policies are affected, mainly motor policies (about 96%), which will remain in force until their expiry dates; motor third-party and employees' compensation claims will be handled by MIB and ECIIB, which are estimated to account for about 94% of Tai Ka Insurance's liabilities. The HK$250 million statutory deposit held by Tai Ka and held in custody in the name of the Insurance Authority, together with assets expected to be realised, should be sufficient to pay all valid claims.
Why read this: The announcement sets out the handling arrangements for about 30,000 affected policies and various claims, and states that the HK$250 million statutory deposit and two compensation funds are sufficient to meet insurance liabilities.
Translation is not available yet. Showing the Traditional Chinese version.
財政司司長宣布短期內重啟因第五波疫情押後的首批政府零售綠債發行，發行額150億元，可按認購情況加碼至最多200億元，最低年息率由2厘上調至2.5厘，年期維持三年並每半年派息，預計本月底或之前接受認購。首階段5000元消費券已於上周開始發放。
Why read this: 網誌交代了零售綠債重啟後的發行額、最低息率和認購時間表，並列出消費券首日的領取數字，關鍵數據可逐一核對。
The Insurance Authority reprimanded two insurance companies, formerly known as MetLife, for breaching seven specified provisions of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, and imposed a fine of HK$7 million. The investigation found that between January 2015 and October 2017, the two companies failed to maintain effective procedures to identify politically exposed persons and monitor suspicious transactions. The two companies have taken remedial measures and were acquired by FWD Group on 30 June 2020.
Why read this: The press release specifies the breach period and the seven provisions involved, allowing readers to verify the basis for the fine and each of the control deficiencies.
On 7 January 2022, the Insurance Authority appointed a manager under the Insurance Ordinance (Cap. 41) to take over the affairs and assets of Titan Insurance in full. The Insurance Authority said Titan's investment activities and fund allocation may have breached statutory requirements; nearly 80 per cent of its business is motor insurance, involving about 10,000 taxis, accounting for a 1.43 per cent share of the general direct insurance business market, and the coverage terms of existing policies are unaffected.
Why read this: The Insurance Authority explained that the takeover was due to Titan's investment activities and fund allocation potentially breaching statutory requirements, and listed its 1.43% market share and that existing policies remain unaffected, allowing readers to check their own situation.
The Insurance Authority, the Mandatory Provident Fund Schemes Authority and the Hong Kong Monetary Authority announced the joint launch of a mystery shopping inspection scheme to understand intermediaries' practices in selling qualifying deferred annuity policies (QDAP) and tax-deductible voluntary contributions (TVC) under the Mandatory Provident Fund in Hong Kong, marking the first time the three financial regulators have collaborated on such a scheme. The scheme is expected to commence in January 2022 and will target intermediaries regulated by the three bodies that sell or promote these two tax-deductible products in Hong Kong. Results will be used to complement each body's regulatory work, and relevant issues and good practices will be shared with the industry.
Why read this: The press release specifies that the scheme covers three categories of regulated intermediaries and states when it will commence, allowing readers to verify what sales practices will be inspected.
The Insurance Authority and the Hong Kong Monetary Authority issued a joint circular on 30 September 2021, setting out the key findings of their joint inspections of the premium financing business of long-term business insurers and licensed insurance intermediaries. The inspections were conducted in the second half of 2020, and the two regulators will contact the industry to clarify the standards to be met when conducting premium financing activities. Chief Executive Clement Cheung reminded that premium financing involves the risks of leveraged borrowing and rising interest rates.
Why read this: The inspections were conducted in the second half of 2020, and the circular highlights the leverage and interest rate risks of premium financing, allowing readers to check the policy arrangements they hold.
Translation is not available yet. Showing the Traditional Chinese version.
財政司司長在網誌表示，最新一批iBond認購熱烈，發行額由150億港元調高至200億港元。超過71萬人申請、按年增55%，認購總額逾545億港元、增40%，創2011年以來新紀錄。銀色債券本月底公布詳情，消費券計劃預計下月接受登記。
Why read this: 網誌列出iBond申請人數、認購金額與發行額加碼的具體數字，並交代銀色債券與消費券的時間表，方便讀者核對政策進度。
Translation is not available yet. Showing the Traditional Chinese version.
保監局公布2021年首季香港保險業臨時統計數字，毛保費總額達$1,574億，較去年同期下跌4.6%。長期業務保費收入$1,391億，跌5.2%；內地訪客新造業務保費由$54億收縮至約$1億，跌98.1%。一般保險毛保費$183億，承保利潤升至$5.12億。
Why read this: 首季毛保費總額$1,574億、按年跌4.6%，並列出內地訪客新造保費跌98.1%至約$1億等分項數字，讀者可逐一核對。
Translation is not available yet. Showing the Traditional Chinese version.
財政司司長在網誌交代預算案取捨，指本財政年度赤字預計超過二千五百億元，下年度仍超過一千億元。他說明推三百六十億元電子消費券、撥款六十六億元開創約三萬個有時限職位，並解釋上調股票交易印花稅，每十萬元交易多付三十元。
Why read this: 網誌交代預算案多項措施的取捨理由，列出赤字規模、消費券金額和印花稅加幅等數字，方便讀者核對影響。
The Insurance Authority released provisional statistics for the Hong Kong insurance industry for the first three quarters of 2020, with gross premiums reaching $461.1 billion, up 5.5% year on year. Premium income from long-term business was $412.7 billion, up 5.1%, while gross premiums for general insurance were $48.5 billion, up 9.3%. New policy premiums from mainland visitors contracted 68.3% in the third quarter to $266 million.
Why read this: Gross premiums for the first three quarters totalled $461.1 billion, up 5.5% year on year, while new policy premiums from mainland visitors fell a cumulative 81.9% over the same period, providing a contrast between the rise and the fall.
Translation is not available yet. Showing the Traditional Chinese version.
財政司司長在網誌表示重推通脹掛鈎債券iBond，籌備工作已就緒、快將公布發行詳情，本批最低息率保證提高至兩厘。iBond每半年派息、息率與本港綜合消費物價指數掛鈎、到期付清本金。其後將發行以65歲或以上長者為對象的銀色債券，兩批發行總額合共最多130億元。
Why read this: 網誌列出iBond歷次認購人數與發行額，並交代本批兩厘最低息率保證及最多130億元發行上限，方便讀者評估參與價值。
Translation is not available yet. Showing the Traditional Chinese version.
保監局公布2020年首季香港保險業毛保費總額達$1,650億，較去年同期上升10.9%。長期業務保費收入$1,467億上升11%，一般保險毛保費$183億上升10.1%。內地訪客新造保單保費為$54億，下跌57.7%，佔個人業務總額15.5%。
Why read this: 新聞稿逐項列出與去年同期的變化幅度，讀者可核對長期業務、一般業務及內地訪客新造保單保費的實際升降。
Translation is not available yet. Showing the Traditional Chinese version.
財政司司長在網誌指疫情打擊環球經濟，OECD將今年環球經濟增長預測下調0.5個百分點至2.4%。預算案1200億元逆周期措施包括向年滿十八歲香港永久居民每人派發一萬元，目前時間表為七月初接受申請、暑假期間派發現金。申請截止日期為明年12月31日。
Why read this: 網誌交代了每人一萬元現金派發計劃的申請與發放時間表，並列出OECD與IMF下調的全球增長預測數字供讀者核對。
Financial Secretary explained in his blog the considerations behind enacting the Prohibition on Face Covering Regulation, with the aim of deterring violent and unlawful acts, and stressed that Hong Kong will not impose foreign exchange controls and that funds can flow freely in and out. He listed foreign exchange reserves of over US$430 billion, fiscal reserves of over HK$1,140 billion, and the retail sales value in August plunging 23% year-on-year.
Why read this: The Secretary explains the reasons for enacting the Prohibition on Face Covering Regulation, and lists ratios of foreign exchange reserves, fiscal reserves and the banking system to address concerns over whether the free movement of funds will be restricted.
Translation is not available yet. Showing the Traditional Chinese version.
保監局公布2018年香港保險業務統計數字，年內毛保費總額達$5,145億，較2017年上升5.2%。長期業務保單保費為$4,614億（上升4.7%），個人人壽業務佔市場總額92.4%。一般保險毛保費為$531億（上升10%），承保由2017年虧損$8.27億轉為錄得利潤$5.83億。
Why read this: 數據覆蓋長期與一般業務並列出按年比較，可核對毛保費總額及各主要險種的增幅。
Translation is not available yet. Showing the Traditional Chinese version.
保監局公布2019年上半年香港保險業毛保費總額達$2,958億，較去年同期上升16.6%。長期有效業務保費收入$2,653億，上升17.5%，一般保險業務毛保費$305億，上升9.4%。內地訪客新造保單保費$263億，上升17.9%，佔個人業務總新造保單保費的26.4%。
Why read this: 這份臨時統計分項列出長期與一般業務的保費收入和承保表現，並附內地訪客新造保單佔比，可用來核對各項與去年同期的變化。
Translation is not available yet. Showing the Traditional Chinese version.
保監局就持牌保險中介人「適當人選」準則及持續專業培訓指引發表諮詢總結，新持牌人士須於香港中學文憑試五科達到2級或以上（包括中文或英文及數學）。持續專業培訓時數由每年10小時增至15小時，兩份指引於2019年9月23日生效，新增時數要求於2021年8月1日生效。
Why read this: 諮詢總結列出新持牌人士的最低學歷門檻、每年培訓時數及兩項生效日期，可據此判斷新要求何時適用。
Translation is not available yet. Showing the Traditional Chinese version.
保監局就《保險業條例》（第41章）下《有關向受規管人士行使施加罰款權力的指引》發表諮詢總結，指引將在憲報刊登，並於新保險中介人法定規管制度在2019年9月23日實施時生效。指引建議罰款應有效、相稱而公平，公眾諮詢於2018年10月26日至12月27日進行，回應者普遍歡迎引入統一罰款標準。
Why read this: 諮詢期與生效日期都寫明，可核對新罰款制度何時落地、回應者主要反應為何。
Translation is not available yet. Showing the Traditional Chinese version.
政府宣布暫緩逃犯移交草案修訂的審議工作，財政司司長撰文指將在不設時限的基礎上繼續與各界溝通及聽取意見。網誌列出港元一個月期同業拆息曾比6月初高出60個基點達2.6%、港元匯率由7.84兌1美元升至7.81，並指證券及期貨市場運作暢順有序。
Why read this: 網誌逐一列出港元拆息、匯價、銀行流動性及賣地情況的具體數字，可核對社會氣氛緊張期間金融與樓市的實際表現。