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Mainland, Hong Kong and Macao hold 2024 high-level air traffic management meeting in Zhuhai

HK

Mainland, Hong Kong and Macao hold 2024 high-level air traffic management meeting in Zhuhai
HK

HK

Mainland, Hong Kong and Macao hold 2024 high-level air traffic management meeting in Zhuhai

2024-06-04 16:20 Last Updated At:19:22

Top air traffic managers from mainland china, hong kong, and macao to meet in zhuhai in 2024

The Secretary of the Party Committee of the Air Traffic Management Bureau (ATMB) of the Civil Aviation Administration of China (CAAC), Mr Wen Xuezheng; the Director-General of Civil Aviation of Hong Kong, Mr Victor Liu; and the President of the Civil Aviation Authority of the Macao Special Administrative Region, Mr Pun Wa-kin, attended the Mainland, Hong Kong and Macao 2024 high-level air traffic management meeting in Zhuhai today (June 4).

The senior management of the three parties reviewed the overall progress and work plan of the Airspace Management Technical Sub-group and the Air Traffic Flow Management (ATFM) Technical Sub-group, including work progress and achievements of airspace optimisation matters, and the ATFM in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). They exchanged views on the feasibility study of the application of advanced navigation capabilities, and shared experiences on measures to consistently enhance the efficiency of the ATFM in the GBA.

With regard to airspace optimisation and air traffic management enhancement, the Tripartite Working Group (TWG) reached consensus on the planning needs of peripheral air routes upon deliberation of a host of optimisation measures, including the establishment of new air routes and the transfer of control points, joint construction of an airspace simulation model and assessments of airspace enhancement plans. The TWG also carried out a feasibility study on the application of advanced air navigation technologies to explore the feasibility of developing a more flexible air traffic management mode by utilising more precise navigation performances of modern aircraft, with an aim to maximise the utilisation of GBA airspace resources. The TWG will, on a continual basis, enhance and strengthen the trilateral co-ordination and operation mechanism in order to jointly build a safe, efficient and sustainable air transport system in the GBA. The Civil Aviation Department (CAD) also updated its counterparts on the latest progress of the Three-runway System (3RS) of Hong Kong International Airport (HKIA), including the design of flight procedures and air routes, and the latest air traffic control technologies to support the 3RS operations.

For the ATFM, the TWG primarily focused on the development of contingency arrangements to regulate air traffic flow in the GBA, with a view to reducing the airborne holding time and thereby minimising aircraft fuel burning and its consequential impact on the environment, as well as enhancing the sustainability of the aviation industry. The TWG also shared experiences in enhancing its operation and ATFM co-ordination under the situation of severe thunderstorms and extreme weather conditions in the GBA.

Mr Liu said that the TWG has made promising progress in various aspects. It is implementing planned air traffic management enhancement initiatives in phases while those implemented measures have achieved fruitful results. With the support of the ATMB of the CAAC, the CAD will continue to take forward air traffic management optimisation measures and the 3RS developments in accordance with the directions of the National 14th Five-Year Plan and the Outline Development Plan for the GBA to further strengthen and enhance Hong Kong's status as an international aviation hub, as well as to achieve the target runway capacity of 102 flights per hour using the 3RS of HKIA.

HKSAR Government's Institutional Green Bonds Offering

The following is issued on behalf of the Hong Kong Monetary Authority:

The Government of the Hong Kong Special Administrative Region of the People's Republic of China (the HKSAR Government) today (July 18) announced the successful offering of approximately HK$25 billion worth of green bonds (the Green Bonds), denominated in Renminbi (RMB), US dollars (USD), and euro (EUR) under the Government Sustainable Bond Programme (previously known as the Government Green Bond Programme).

Following a virtual roadshow on July 16, 2024, the Green Bonds were priced on July 17, 2024 as follows:

  • RMB2 billion 2-year tranche at 2.60 per cent;
  • RMB2 billion 5-year tranche at 2.70 per cent;
  • RMB2 billion 10-year tranche at 2.80 per cent;
  • RMB2 billion 20-year tranche at 3.05 per cent;
  • RMB2 billion 30-year tranche at 3.15 per cent;
  • US$1 billion 3-year tranche at 4.336 per cent; and
  • EUR750 million 7-year tranche at 3.379 per cent.
  • The offering attracted participation from a wide spectrum of investors globally, with more than HK$120 billion equivalent in orders. In particular, the 20-year and 30-year RMB Green Bonds were offered for the first time by the HKSAR Government, among which the 30-year bond is also the longest tenor RMB bond offered by the HKSAR Government so far, providing new benchmarks for the market.

    The Financial Secretary, Mr Paul Chan, said, "The issuance of Government green bonds is an important initiative to promote Hong Kong's low-carbon transformation and consolidate Hong Kong's development as a green and sustainable finance hub. Global institutional investors responded enthusiastically to the subscription of these Green Bonds, reaffirming our efforts on this front. The inaugural offering of the 20-year and 30-year RMB bonds helps to extend the offshore RMB yield curve, further enrich offshore RMB product offerings, and promote RMB internationalisation in an orderly manner."

    The Green Bonds are being issued by the HKSAR Government under the Global Medium Term Note Programme dedicated to green bond issuances established in early 2021. The Green Bonds are expected to be settled on July 24, 2024 and listed on the Hong Kong Stock Exchange and the London Stock Exchange. The Green Bonds have been assigned credit ratings of AA+ by S&P Global Ratings and AA- by Fitch.

    The Hong Kong Monetary Authority acted as the HKSAR Government's representative in this green bond offering. Proceeds raised will be credited to the Capital Works Reserve Fund to finance or refinance projects that provide environmental benefits and support sustainable development.

    The HKSAR Government published its Green Bond Framework (the Framework) in March 2019, which sets out how green bond proceeds will be used to fund projects to improve the environment and facilitate the transition to a low carbon economy. The Framework was subsequently updated in February 2022, reflecting the HKSAR Government's latest commitments and strategy in combatting climate change and aligning with the latest international standards and practices in the green bond market. Vigeo Eiris, which is now part of Moody's ESG Solutions, has provided a Second Party Opinion for both the original and updated Green Bond Framework. The Green Bonds have also received the Green and Sustainable Finance Certificate (Pre-issuance Stage) from the Hong Kong Quality Assurance Agency. The HKSAR Government has since published four annual reports on the allocation of the proceeds from previous green bond issuances and the expected environmental benefits of the projects financed.

    The list of Joint Global Coordinators, Joint Bookrunners, Joint Lead Managers, and Joint Green Structuring Banks for the Green Bonds offering are set out at the attached Annex.

    Investors' Distribution by Category

    Category

    RMB

    Green Bonds

    USD

    Green Bonds

    EUR

    Green Bonds

    Banks

    71%

    57%

    48%

    Central banks, sovereign wealth funds and international organisations

    13%

    22%

    14%

    Fund managers, private banks, insurance companies and others

    16%

    21%

    38%

    Note: The RMB and EUR Green Bonds were offered in Reg S format and the USD Green Bonds in 144A / Reg S format (Note).

    DISCLAIMER:

    NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION OR DISSEMINATION WOULD BE PROHIBITED BY APPLICABLE LAW.

    THIS ANNOUNCEMENT IS NOT MADE BEING MADE AVAILABLE IN, AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION OR DISSEMINATION WOULD BE PROHIBITED BY APPLICABLE LAW.

    THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED, AND SHOULD NOT BE CONSTRUED, AS AN OFFER OF, OR A SOLICITATION OF AN OFFER TO BUY, SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.

    THE SECURITIES DESCRIBED HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE LAWS OF ANY STATE OF THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN COMPLIANCE WITH ALL APPLICABLE STATE LAWS. THERE WILL BE NO PUBLIC OFFERING OF SUCH SECURITIES IN THE UNITED STATES.

    Note: Reg S pertains to offerings of securities made outside of the United States. Rule 144A pertains to placements of securities to qualified institutional buyers in the United States meeting the requirements of that Rule.

    Source: AI-generated images

    Source: AI-generated images

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