Exclusive: hong kong customs busts unregistered dealer in illegal precious metals trade
âHong Kong Customs yesterday (May 28) detected a case which involved a local company that conducted diamond transactions with total value of each transaction exceeding HK$120,000 without a registration under the Dealers in Precious Metals and Stones Regulatory Regime. Two persons suspected to be connected with the case were arrested.
An investigation is ongoing. The two persons have been released on bail pending further investigation.
According to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), the Regime came into effect on April 1, 2023. Any person who is seeking to carry on a business of dealing in precious metals and stones in Hong Kong and engage in any transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 in Hong Kong is required to register with the Commissioner of Customs and Excise. Any dealer, other than a registrant, claims to be a registrant, claims to be authorised to carry out, or carries out any cash or non-cash transaction(s) with total a value at or above HK$120,000 is liable on conviction to a maximum fine of HK$100,000 and imprisonment for six months.
Hong Kong Customs reminds all dealers in precious metals and stones that the transitional period for registration under the Regime has ended. Any dealer who submits their applications for registration from January 1, 2024, onwards must successfully obtain the relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above $120,000.
For the forms, procedures and guidelines to submit applications for registration, please visit the website for Dealers in Precious Metals and Stones Registration System (www.drs.customs.gov.hk) or Hong Kong Customs' webpage (www.customs.gov.hk/en/service-enforcement-information/anti-money-laundering/supervision-of-dealers-in-precious-metals-and-ston/index.html).
Members of the public may report any suspected transactions involving precious metals and stones with a total value at or above HK$120,000 conducted without the required registration to Customs' 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Source: AI-generated images
2024 Constitution Day Seminar (with photos/video)
To enable the community to have a better understanding of the Constitution, the Basic Law, and the HKSAR's constitutional basis as laid down by the Constitution and the Basic Law, the Hong Kong Special Administrative Region (HKSAR) Government and the Liaison Office of the Central People's Government in the HKSAR today (December 4) jointly held a seminar on Constitution Day, with the Endeavour Education Centre as the supporting organisation.
About 1 000 participants from various sectors of the community attended the Seminar themed "The Constitution and Further Deepening Reform Comprehensively". The Seminar comprised of two parts: a keynote speech and a panel discussion. The keynote speech was delivered by Professor Mo Jihong, who is the Member of the Academy of the Chinese Academy of Social Sciences, Director of the Institute of Law of the Chinese Academy of Social Sciences, Dean of the School of Law of the University of the Chinese Academy of Social Sciences, and Executive Vice-President of the Association of Constitutional Law of the China Law Society. The panel discussion was moderated by member of the Management Committee of the Endeavour Education Centre, Miss Elsie Leung, who hosted a discussion with Hong Kong member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), and non-official member of the Executive Council and member of the Legislative Council, Mr Martin Liao; and member of the HKSAR Basic Law Committee of the Standing Committee of the National People's Congress, Dr William Wong, SC, on the vital functions of the Constitution in the process of further deepening reform comprehensively and promoting Chinese modernisation, as well as Hong Kong's integral roles in this regard.
Speaking at the Seminar, the Chief Executive, Mr John Lee, said that in the course of further deepening the reform comprehensively, the status of the Constitution as the fundamental law of the country must be upheld, and the provisions, principles and spirit of the Constitution must be firmly safeguarded and implemented, so as to ensure that the reforms are heading in the right direction and are carried out correctly and steadily. At the same time, education on the Constitution must be stepped up, because only when all people fully understand the content and spirit of the Constitution, a favourable atmosphere of respecting and abiding by the law can be created in society, and reforms can move forward steadily while abiding by the rule of law. He pointed out that the Resolution (the Resolution of the CPC Central Committee on Further Deepening Reform Comprehensively to Advance Chinese Modernization) adopted at the Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC Central Committee) put forward more than 300 important reform initiatives, many of which are closely related to Hong Kong, and the key requirement throughout is that the HKSAR should fully capitalise on the institutional advantages under the "one country, two systems" principle.
Addressing in his speech, Mr Zheng Yanxiong, the Director of the Liaison Office of the Central People's Government in the HKSAR, mentioned that with the propelling of further comprehensive deepening of reforms, the full implementation of the Constitution mechanism will be further enhanced. The rule of law and Rule of the Constitution will step to a new stage and enter a new horizon in the new journey of the Chinese modernisation. The spirit of the rule of law and innovation will lead Hong Kong to a higher level of security and quality development. At present, with the staunch support of the Central Government, the strong leadership of the HKSAR Government, and the concerted efforts of all sectors of the HKSAR, the situations in Hong Kong society remain stable, and the economic and social developments of Hong Kong experience favourable changes. Hong Kong is now entering the best period for striving for economic growth and development at full strength.
When delivering his keynote speech, Professor Mo expressed his full confidence in the future of Hong Kong, which originates from the successful implementation of the Basic Law in Hong Kong in an active and effective manner. He pointed out that we must firmly establish the awareness of the importance of the Constitution, consciously uphold the authoritative status of the Constitution as the fundamental law in promoting Hong Kong's economic development and prosperity, use the reform spirit of the Constitution to promote practical innovation of the HKSAR's system, and continue to ensure that on the premise of the Central Authorities' effective exercise of overall jurisdiction, we can fully mobilise and utilise the initiative and proactiveness of all sectors of the community in Hong Kong, and encourage and support the HKSAR and the HKSAR Government to make good use of the high degree of autonomy conferred by the Constitution and the Basic Law, in order to place the legitimate rights and interests of Hong Kong residents at the core position of the HKSAR's system.
During the panel discussion of the Seminar, Mr Liao said the Constitution is the founding capital of modern countries and a country's fundamental law which possess the highest authority and status. We are all familiar that the Constitution is also the crystal of unity for the party and the country and unity for the people. It is also a mutual adaptation to the history of the country, the cultural background, the social values, as well as the current institution and mechanism, and a representation of the entire country's spiritual outlook, both internally and externally. Dr Wong pointed out that the Third Plenary Session of the 20th CPC Central Committee put forward new development concepts, emphasising on comprehensive ruling of the country in accordance with the law. He considered this as opportunities for all young people in Hong Kong, for the reason that establishing a completely fair cultural awareness and a fair mechanism allow all citizens to give full play to their strengths and pursue happy lives.
The Government has arranged the government website as well as some major television stations to broadcast live the Seminar. The full version of the Seminar will also be uploaded to the website of the Constitutional and Mainland Affairs Bureau (www.cmab.gov.hk/en/home/index.htm) to enable members of the public to review the Seminar. They may visit the dedicated webpage (www.cmab.gov.hk/en/issues/constitution_day.htm) for other information about Constitution Day.
2024 Constitution Day Seminar (with photos/video) Source: HKSAR Government Press Releases
2024 Constitution Day Seminar (with photos/video) Source: HKSAR Government Press Releases
2024 Constitution Day Seminar (with photos/video) Source: HKSAR Government Press Releases
