Exciting news: grant scheme extended for open-ended fund companies and real estate investment trusts by government
The Government and the Securities and Futures Commission (SFC) announced today (April 26) details of the extension of the Grant Scheme for Open-ended Fund Companies and Real Estate Investment Trusts.
To further attract the set-up of open-ended fund companies (OFCs) and real estate investment trusts (REITs) in Hong Kong, the Government launched the Grant Scheme in 2021 to provide funding support for OFCs set up in or re-domiciled to Hong Kong and REITs listed in Hong Kong to pay for eligible expenses charged by Hong Kong-based professional service providers.
Implemented by the SFC, the Grant Scheme has generallybeen well received by the industry since its inception. The 2024-25 Budget has announced the extension of the Grant Scheme for three years to 2027 to strengthen the development of OFCs and REITs in Hong Kong.
A spokesman for the Financial Services and the Treasury Bureau said, "The Government is committed to strengthening Hong Kong's competitive edge as a premier fund hub. Since the introduction of the Grant Scheme, the number of OFCs registered in Hong Kong has increased substantially from 14 in May 2021 to 302 in March 2024. The Grant Scheme has effectively promoted the development of Hong Kong's diversified fund industry. In respect of REITs, the Budget has announced waiving the stamp duty payable on the transfer of REIT units. On April 19, the China Securities Regulatory Commission announced the inclusion of REITs under Stock Connect. The extended Grant Scheme, complementing relevant measures, will further bolster the development of our REIT market."
The extended Grant Scheme will be open for applications from May 10, 2024. Eligible OFCs and REITs will be provided with funding support for 70 per cent of eligible expenses paid to Hong Kong-based service providers, subject to a cap of $1 million for each publicly offered OFC, $500,000 for each privately offered OFC, and $8 million for each REIT. Details are available on the SFC website (apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR78).
Source: AI-generated images
Chp on the hunt for mpox culprit
The Centre for Health Protection (CHP) of the Department of Health (DH) said today (May 6) that it is investigating a confirmed Mpox (also known as Monkeypox) case, and urged the public to heighten vigilance and avoid close physical contact with persons suspected of contracting Mpox. Meanwhile, high-risk target groups are advised to receive Mpox vaccination.
The case involves a 61-year-old male patient with underlying diseases. He had developed skin rash since April 27. He visited the Yau Ma Tei Male Social Hygiene Clinic of the DH on May 2. He is in stable condition and arrangements have been made for him to be admitted to Princess Margaret Hospital.
According to the patient, he had high-risk contacts during his visit to Big Top HK Limited, a recreational premises on Nathan Road, Mong Kok, on April 13 and 20. Furthermore, he visited Thailand between April 25 and 30. According to the patient, he had high-risk exposure in Thailand. An initial investigation revealed that no epidemiological linkages between this case and other confirmed cases recorded in Hong Kong earlier have been found so far. The CHP is continuing its epidemiological investigations of the case and will report the case to the World Health Organization.
The CHP appeals again to high-risk target groups to receive Mpox vaccination with a view to lowering the risk of infection or the possibility of having more severe symptoms after infection. Persons who experience Mpox symptoms (including rashes, fever, chills, swollen lymph nodes, exhaustion, muscle pain, and severe headaches) or suspect themselves of being infected are advised to seek medical attention and receive treatment at once, and they should not engage in activities with others during which other people may have contact with their skin rash or body fluids. Members of the public should maintain good personal and hand hygiene to prevent virus transmission or infection through contact. They should also avoid close physical contact with persons or animals suspected of infection.
The CHP had earlier set up an Mpox telephone hotline (2125 2373). The hotline operates from Monday to Friday (excluding public holidays) from 9am to 5pm, which enables those who suspect or are concerned they have had high-risk contact with confirmed patients, in particular men who have sex with men or those who have sexual practices with strangers, to make enquiries and receive relevant health advice. The CHP appeals to the public who have visited the premises on the above-mentioned dates, and those who suspect they have had high-risk contact with confirmed patients, to call the Mpox telephone hotline as soon as possible.
The DH provides vaccination service for high-risk groups of MPox. The following high-risk target groups can receive Mpox vaccination on a voluntary basis:
Individuals with high-risk sexual practices, e.g. having multiple sexual partners, sex workers, or having a history of sexually transmitted infection within the past 12 months;
Healthcare workersresponsible forcaringofpatients with confirmed Mpox;
Laboratory personnel working with zoonotic pox viruses; and
Animal care personnel with high risk of exposure in case of Mpox occurrence in animals in Hong Kong.
High-risk target groups can receive Mpox walk-in vaccinations at all of the DH's Social Hygiene Service Clinics (SocHS) (namely Chai Wan SocHS,Wan Chai Male SocHS, Wan Chai Female SocHS, Yau Ma Tei Male SocHS, Yau Ma Tei Female SocHS,Yung Fung Shee SocHS, Fanling SocHS and Tuen Mun SocHS). Further information of the clinics including their locations is available atwww.dh.gov.hk/english/tele/tele_chc/tele_chc_shcf.htmlandwww.dh.gov.hk/english/tele/tele_chc/tele_chc_shcm.html.
Meanwhile, the DH's Kowloon Bay Integrated Treatment Centre and Yau Ma Tei Integrated Treatment Centre, and the Hospital Authority's Special Medical Clinics at Queen Elizabeth Hospital and Princess Margaret Hospital will also provide Mpox vaccination services for their clients.
âFor more details, please visit the CHP's page onMpox.
Source: AI-generated images
