Establishment of direct linkage between Central Moneymarkets Unit of HKMA and Macao Central Securities Depository and Clearing Limited of AMCM
The following is issued on behalf of the Hong Kong Monetary Authority:
To promote the development of bond markets in Hong Kong and Macao, the Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Macao (AMCM) today (September 16) jointly announced the establishment of a direct linkage between the Central Moneymarkets Unit (CMU) of the HKMA and the central securities depository (CSD) operated by Macao Central Securities Depository and Clearing Limited (MCSD), a wholly-owned subsidiary of the AMCM.
Under the direct linkage arrangement, investors in Hong Kong, through their accounts at the CMU, will be able to clear, settle and hold bonds lodged with the CSD in Macao; while investors in Macao, through their accounts in the CSD in Macao, will also be able to clear, settle and hold bonds lodged with the CMU. This arrangement will mark a new milestone in the financial co-operation between Hong Kong and Macao, signifying far-reaching implications for the synergistic development of the core cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
The Chief Executive of the HKMA, Mr Eddie Yue,said, "The HKMA, in recent years, has gradually established connectivity with various neighbouring financial markets to strengthen regional co-operation, and to bring in more opportunities for all sorts of financial services, in particular the Renminbi business. This also provides domestic and overseas investors with a greater variety of investment products, so as to further strengthen Hong Kong's competitiveness as an international financial centre. On this basis, fostering connectivity between the bond market infrastructures in Hong Kong and Macao is a major manifestation of the synergistic development of the financial markets in the GBA, and will develop CMU into an international CSD in Asia, leveraging its role as a super-connector."
The Chairman of the AMCM, Mr Benjamin Chan,said, "The Macao Special Administrative Region (SAR) Government has been promoting appropriate economic diversification and fostering diversity within the financial ecosystem, with bond market serving as the crucial cornerstone. This could provide another financing channel to support major national strategic deployments, including the development of the GBA. Besides, based on the historical ties between Macao and Portuguese-speaking countries, connecting with the bond market infrastructure in Hong Kong will enable Macao to further leverage its role as a gateway between China and Portuguese-speaking countries. It will also strengthen Macao's function as the financial services platform serving China and Portuguese‑speaking countries, and achieve mutual market access among the financial markets and financial market infrastructures in the GBA."
The official launch date and detailed arrangements for the direct linkage will be announced in due course.
About HKMA
The HKMA is Hong Kong's central banking institution. The HKMA's main functions are: (i) maintaining currency stability within the framework of the Linked Exchange Rate System; (ii) promoting the stability and integrity of the financial system, including the banking system; (iii) helping to maintain Hong Kong's status as an international financial centre, including the maintenance and development of Hong Kong's financial infrastructure; and (iv) managing the Exchange Fund.
The CMU, owned and operated by the HKMA, provides secure and efficient clearing, settlement and custodian services for Hong Kong's multi-currency debt securities and those in international markets. Over the years, the CMU has continuously established linkages with regional and international central securities depositories to expand its issuer and investor reach globally. With the launch of Bond Connect scheme in 2017, the CMU has become a pivotal financial market infrastructure serving both onshore and offshore market participants.
Please visit www.cmu.org.hkfor more information about the CMU.
About AMCM
The AMCM is Macao's central banking and integrated financial regulatory institution. Its main functions include: (i) assisting the Chief Executive of Macao SAR in formulating and implementing monetary, financial, exchange rate and insurance policies; (ii) overseeing the monetary, financial, foreign exchange and insurance markets in accordance with relevant statutory regulations to ensure their smooth operations, as well as supervising and regulating the entities operating in the respective markets; (iii) maintaining the internal stability and external solvency of the domestic currency to ensure its full convertibility; (iv) managing foreign exchange reserves and the fiscal reserve; and (v) maintaining the stability of the financial system. With the support of the Central Government, the AMCM constructed the CSD and set up the MCSD as its wholly owned subsidiary in December 2021. The MCSD is responsible for the operation of the CSD. Currently, the MCSD mainly provides securities registration, clearing, settlement, depository and other related services. The MCSD aims to provide financial-market infrastructure services to support the efficient and safe operations of the Macao bond market, which is expected to become an investment and financing platform that is widely recognised by local and international issuers, investors and other participants.
Please visit www.mcsd.com.mofor more information about the MCSD.
Source: AI-generated images
CHP reminds public on precautions against cold weather
The Centre for Health Protection (CHP) of the Department of Health (DH) today (December 21) reminded the public, particularly the elderly and people with chronic illnesses, to adopt appropriate measures to protect their health in view of the cold weather.
A spokesman for the CHP said that cold weather can easily trigger or exacerbate diseases, especially among the elderly and persons suffering from heart disease, respiratory illnesses or other chronic illnesses.
"Elderly people have less insulating fat beneath their skin to keep them warm, and their body temperature control mechanisms may be weaker. Their body may not be able to appropriately respond to thecold weather," the spokesman said.
Some senior persons may have decreased mobility, which can impair their ability to generate and conserve body heat. Chronic illnesses, such as hypertension, diabetes and endocrine disorders, may undermine the health of elderly people and lower their metabolic rate, subsequently causing their body to generate less heat. Persons with chronic illnesses, such as chronic respiratory illnesses or heart disease, are vulnerable to disease aggravation due to cold weather.
The CHP reminded the public, in particular the elderly and persons with chronic illnesses, to adopt the following preventive measures:
Take note of the weather forecast. Wear warm clothing, including hats, scarves, gloves and socks, accordingly;
Consume sufficient food to ensure adequate calorie intake;
Perform regular exercise to facilitate blood circulation and heat production;
Stay in a warm environment and avoid prolonged outdoor exposure;
Use heaters with care and maintain adequate indoor ventilation; and
Seek medical advice if feeling unwell.
In addition, the public should avoid alcoholic beverages.
"Drinking alcohol cannot keep you warm. Alcohol accelerates the loss of body heat through dilated blood vessels, resulting in chilling instead," the spokesman said.
"Parents should ensure that babies are sufficiently warm, but it is also important to keep babies relatively lightly clothed to avoid overheating them," the spokesman added.
Parents should observe the following safety measures when putting their children to bed:
Keep the room well ventilated and at a comfortable temperature;
Always place babies on their backs to sleep. Leave their heads, faces and arms uncovered during sleep;
Babies do not need pillows. Place babies on a firm and well-fitted mattress to sleep. Avoid soft objects, pillows and loose bedding;
Let babies sleep in a cot placed near their parents' bed; and
Maintain a smoke-free environment.
In addition, many respiratory pathogens, including influenza and SARS-CoV-2, may have increasing activity and community transmission during winter. Seasonal influenza vaccination is recommended for all persons aged 6 months or above, except those with known contraindications. Persons at higher risk of getting influenza and its complications, including the elderly and children, should receive seasonal influenza vaccinations early. Please see details of the vaccination schemes on theCHP's website.
A person who gets influenza and COVID-19 at the same time may be more seriously ill and would have a higher risk of death. It is important for elderly persons, especially those residing in residential care homes, to receive both a seasonal influenza vaccination and a COVID-19 vaccination. They should also receive an additional booster against COVID-19 according to recommendations as soon as possible. The public should also maintain good personal and environmental hygiene against respiratory illnesses and note the following:
Surgical masks can prevent transmission of respiratory viruses from ill persons. It is essential for persons who are symptomatic (even if having mild symptoms) to wear a surgical mask;
Wear a surgical mask when taking public transport or staying in crowded places. It is important to wear a mask properly, including performing hand hygiene before wearing and after removing a mask;
Avoid touching one's eyes, mouth and nose;
Wash hands with liquid soap and water properly whenever possibly contaminated;
When hands are not visibly soiled, clean them with 70 to 80 per cent alcohol-based handrub;
Cover the mouth and nose with tissue paper when sneezing or coughing. Dispose of soiled tissue paper properly into a lidded rubbish bin and wash hands thoroughly afterwards;
Maintain good indoor ventilation;
When having respiratory symptoms, wear a surgical mask, refrain from work or attending classes at school, avoid going to crowded places and seek medical advice promptly; and
Maintain a balanced diet, exercise regularly, take adequate rest, do not smoke and avoid overstress.
Food-borne diseases, particularly those linked to hotpot cuisine, are also common in cold weather. The following preventive measures should be taken:
Wash hands before handling and consuming food;
Do not patronise unlicensed vendors or those with poor hygienic standards while selecting food;
Wash and cook all food thoroughly;
Vegetables should be washed thoroughly in clean running water before cooking and consumption. When appropriate, scrub vegetables with hard surfaces with a clean brush to remove dirt and substances, including pesticide residues and contaminants, from surfaces and crevices;
Shrimps should be fully cooked until the shells turn red and the flesh turns white and opaque;
For shellfish such as scallops and geoduck, scrub the shells thoroughly and remove internal organs;
Do not eat any undercooked freshwater aquatic products. To ensure that the food is thoroughly cooked, the centre of the food should reach a temperature of at least 75 degrees Celsius so as to destroy pathogen;
Most hotpot ingredients should be stored in a refrigerator at 4 degrees C or below, while frozen food should be stored in a freezer at -18 degrees C or below;
Never use raw eggs as a dipping sauce for hotpot; and
Use different sets of chopsticks to handle raw and cooked food to avoid cross-contamination.
In addition, when using fuel-burning appliances, especially in indoor areas, the public should ensure adequate ventilation to avoid harmful exposure to carbon monoxide (CO) and prevent CO poisoning.
For more health information, the public may call the DH's Health Education Infoline (2833 0111) or visit theCHP's websiteandFacebook Fanpage.
The public may also call Dial-a-Weather (1878 200) or visit thewebsite of the Hong Kong Observatoryfor the latest weather information and forecasts, or itspage on Weather Information for Senior Citizens.
