Hong Kong Customs seizes suspected cocaine worth about $1.7 million
Hong Kong Customs yesterday (January 9) seized about 2 kilograms of suspected cocaine in Sau Mau Ping with an estimated market value of about $1.7 million. A 28-year-old man and a 28-year-old woman were arrested.
During an anti-narcotics operation conducted in Sau Mau Ping last night, Customs officers intercepted the above-mentioned persons and seized about 2kg of suspected cocaine in a rucksack carried by the woman. They were subsequently arrested.
The arrested woman has been charged with one count of trafficking in a dangerous drug and will appear at the Eastern Magistrates' Courts tomorrow (January 11), while the arrested man has been released on bail pending further investigation.
Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
Members of the public may report any suspected drug trafficking activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Hong Kong Customs seizes suspected cocaine worth about $1.7 million Source: HKSAR Government Press Releases
Remarks by FS at media session (with photo/video)
The Financial Secretary, Mr Paul Chan; the Secretary for Financial Services and the Treasury, Mr Christopher Hui, and the Secretary for Commerce and Economic Development, Mr Algernon Yau, together with the Chief Executive Officer of the Securities and Futures Commission, Ms Julia Leung, and the Chief Executive of the Hong Kong Monetary Authority, Mr Eddie Yue, met the media this evening (April 7). Following are Mr Chan's remarks at the media session:
Reporter: What tools does the Government have to handle the situation of the market and will Hong Kong consider a national team investor equivalent to intervene? Should the markets keep dropping, what is the bottom line for the state of the market before countermeasures will be considered?
Financial Secretary: I think Julia has explained very clearly the situation in the Hong Kong stock market. Basically, the market has been functioning orderly. There are substantial selling but also buying interests. The spread between the two has been very tight, indicating that the buying power remains very strong.
Hong Kong is a free port, and we encourage capital and investors from different parts of the world to take part in our capital market. Over the years, we have been taking a number of measures to enhance the competitiveness and attractiveness of our capital market, no matter whether it is improving the listing regime, lowering the transaction costs, expanding the markets, attracting investors and capital from around the world, or offering new products such as the ETF (exchange-traded fund) listed on the Saudi stock exchange (and investing in the Hong Kong stock market). All in all, we will persistently and consistently push forward initiatives on various fronts. With an expanding market and more participants from different parts of the world, the liquidity and resilience of our market will be enhanced. The resilience of our market has been very strong. We do not think the current volatility in the market warrants the taking of any drastic measures.
(Please also refer to the Chinese portion of the remarks.)
Remarks by FS at media session (with photo/video) Source: HKSAR Government Press Releases
