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FS visits biomedical firm in UK

Financial Secretary Paul Chan yesterday visited a biopharmaceutical company and the Royal College of Art, and attended a lunch hosted by the China-Britain Business Council, as part of his ongoing trip to London.   Mr Chan visited AstraZeneca and met the company’s senior management to learn about its drug research and development activities, as well as its latest expansion plans.   AstraZeneca indicated that following in-depth talks with Hong Kong’s Office for Attracting Strategic Enterprises, it plans to develop a research and development centre in Hong Kong and will engage in further discussion with relevant government departments on the matter.   The Financial Secretary then attended a roundtable luncheon held by the China-Britain Business Council, and met representatives of British enterprises that do business, or plan to do business, either in the Mainland or Hong Kong.   Mr Chan later visited the Royal College of Art, which collaborated with the Hong Kong Polytechnic Unive
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Welfare rates to be adjusted

The standard payment rates under the Comprehensive Social Security Assistance (CSSA) Scheme will be increased by 2.7% from February 1, the Government announced today.   The adjustment will also apply to the rates of the Old Age Allowance, including those payable under the Guangdong and Fujian schemes, Old Age Living Allowance and Disability Allowance.   The adjustment will incur an additional expenditure of $1.448 billion per year, benefiting 1.38 million recipients.   On the same day, the maximum rent allowance under the CSSA Scheme will also be adjusted upwards by 1.6%.   Additionally, the CSSA Scheme will be further enhanced from February 1, including enhancements to the Disregarded Earnings arrangement and extending the special grants to eligible non-elderly able-bodied recipients.   Call 2343 2255 for enquiries.
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