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Cash allowance scheme set

(To watch the full press conference with sign language interpretation, click here.)   The Government will launch a three-year Cash Allowance Trial Scheme in late June to alleviate the livelihood difficulties faced by grassroots families who have been waiting for public rental housing for a long time.   At a press conference this afternoon, Permanent Secretary for Transport & Housing (Housing)/Director of Housing Agnes Wong said the cash allowance is not a rent subsidy and the recipients are not required to use it to pay for rent.   “This is purely to relieve their financial pressure while waiting for public rental housing.      “We aim to send out around 90,000 application forms to the eligible applicants by the end of this month. We urge them to complete the form and return it to us as soon as possible.”   The cash allowance amount is determined by the number of people in a public rental housing application who meet all eligibility criteria.   Along with other criteria

Financial leaders meet

The Financial Leaders Forum, chaired by Financial Secretary Paul Chan, held its 16th meeting today.   Members were briefed by the Financial Services & the Treasury Bureau and financial regulators on the legislative proposals of introducing a fund re-domiciliation mechanism in Hong Kong.   They agreed that the proposals would help attract investment funds to set foot in Hong Kong, entrenching the city’s position as an international asset and wealth management centre.   During the meeting, the Securities & Futures Commission and the Hong Kong Exchanges & Clearing (HKEX) briefed members on the latest position of their study on a possible listing regime for special purpose acquisition companies in Hong Kong.   Members noted that the HKEX will consult the market on concrete proposals in the third quarter.   The bureau and financial regulators also briefed members on their work in examining how to further enhance Hong Kong's competitiveness as an international financial centre.   Additionally, members noted the latest progress and key legislative proposals to take forward the eMPF Platform project.   As a public utility and sophisticated infrastructure in the financial sector, the platform will allow room for fee reduction for the benefit of the Mandatory Provident Fund Scheme's members through enhanced operational efficiency and economies of scale.
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