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Appointments to Board of Directors of Hong Kong Science and Technology Parks Corporation

HK

Appointments to Board of Directors of Hong Kong Science and Technology Parks Corporation
HK

HK

Appointments to Board of Directors of Hong Kong Science and Technology Parks Corporation

2024-06-21 12:00 Last Updated At:16:18

Dr sunny chai reappointed as chairman of hkstpc board, new members appointed to drive innovation and technology development in hong kong

The Government today (June 21) announced that the Chief Executive has reappointed Dr Sunny Chai as the Chairman of the Board of Directors of the Hong Kong Science and Technology Parks Corporation (HKSTPC) for two years starting from July 1, 2024.

The Secretary for Innovation, Technology and Industry, Professor Sun Dong, said, "Dr Chai has continued to make valuable contributions to the work of the HKSTPC. Under his sterling leadership, the HKSTPC has made significant contributions to the innovation and technology (I&T) and new industrialisation development of Hong Kong through developing new and upgrading existing facilities, introducing measures to support I&T start-ups and enterprises, as well as attracting I&T talent."

The Government also announced the appointment of four new members and reappointment of five serving members by the Financial Secretary for a period of two years from July 1, 2024.

Ms Dilys Chau, Ms Susanna Hui, Mr Timothy Leung and Ms Eunice Yung are appointed as new Board members of the HKSTPC.

Mr Conrad Chan, Professor Stephanie Ma, Mr Daryl Ng, Dr Samson Tam and Ms Phoebe Tse are reappointed as Board members of the HKSTPC.

Professor Sun said, "With their extensive experience and professional knowledge, I am confident that the Board will continue to guide the HKSTPC to fulfil its public mission effectively and further strengthen Hong Kong's competitiveness as an international I&T hub."

The tenure of four incumbent Board members, Mr Herbert Chia, Mr Donald Choi, Mr Dennis Ho and Mr Jimmy Ng, will expire on June 30 this year.

Professor Sun also expressed his heartfelt gratitude to the outgoing Board members for their valuable contributions to the HKSTPC and the local I&T development over the past six years.

Established in 2001, the HKSTPC manages the Hong Kong Science Park, three InnoParks and the InnoCentre. It provides a comprehensive range of services to support and nurture I&T start-ups and enterprises, as well as land and relevant facilities for the I&T industry.

Source: AI-generated images

Source: AI-generated images

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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