Incoming passenger convicted and jailed for importing duty-not-paid cigarettes
An incoming passenger was sentenced to two months' imprisonment with a fine of $1,000 by the Fanling Magistrates' Courts today (May 8) for importing duty-not-paid cigarettes and failing to declare them to Customs officers, in contravention of the Dutiable Commodities Ordinance (DCO).
Customs officers intercepted the incoming 38-year-old male passenger on September 2, 2025 at the Lok Ma Chau Spur Line Control Point and seized 19 200 sticks of duty-not-paid cigarette from his personal baggage, with an estimated market value of about $78,700 and a duty potential of about $63,500. He was subsequently arrested.
Customs welcomes the sentence, noting that even a first-time offender may still be imprisoned. The custodial sentence has imposed a considerable deterrent effect and reflects the seriousness of the offences. Members of the public should not defy the law.
Customs reminds members of the public that under the DCO, cigarettes are dutiable goods to which the DCO applies. Any person who imports, deals with, possesses, sells or buys illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.
Members of the public may report any suspected illicit cigarette activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).
Incoming passenger convicted and jailed for importing duty-not-paid cigarettes Source: HKSAR Government Press Releases
HKSAR Government's Institutional Green Bonds and Infrastructure 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 (May 8) announced the successful pricing of approximately HK$27.6 billion worth of green bonds (the Green Bonds) and infrastructure bonds (the Infrastructure Bonds) denominated in Hong Kong dollars (HKD), Renminbi (RMB), US dollars (USD), and euro (EUR) under the Government Sustainable Bond Programme and the Infrastructure Bond Programme.
Following a virtual roadshow on May 6, 2026, the Green Bonds and Infrastructure Bonds were priced on May 7, 2026 as follows:
HKD3 billion 30-year infrastructure tranche at 3.95 per cent;
RMB6 billion 20-year infrastructure tranche at 2.60 per cent;
RMB6 billion 30-year infrastructure tranche at 2.70 per cent;
USD500 million 5-year infrastructure tranche at 4.052 per cent; and
EUR750 million 8-year green tranche at 3.119 per cent.
The offering attracted participation from a wide spectrum of investors from more than 30 markets across Asia, Europe, the Middle East, and the Americas, with total orders amounting to around HK$239 billion equivalent, representing a subscription ratio of around 8.6 times. In particular, the issuance size of the 30-year HKD bonds was double that of the inaugural issuance last year, and the long-dated 20-year and 30-year RMB bonds, first introduced in 2024, also continued to attract strong investor interest.
The Financial Secretary, Mr Paul Chan, said, "The issuance of infrastructure bonds by the HKSAR Government raises capital for key infrastructure projects, including the Northern Metropolis, thereby facilitating early project completion for the good of the economy and people's livelihood. Also, Government green bonds support green and low-carbon transformation projects, as well as consolidate Hong Kong's development as a green and sustainable finance hub.
"The HKSAR Government has continued to issue longer-tenor HKD and RMB bonds and expanded the scale to meet the demand for longer-tenor bonds from institutional investors, as well as to foster the development of the fixed income and currency markets. Issuance of RMB bonds will further enrich offshore RMB product offerings, improve the offshore RMB yield curve, and promote RMB internationalisation.
"The enthusiastic response from global institutional investors to the subscription reflects their confidence in the development prospects of Hong Kong."
The Green Bonds and the Infrastructure Bonds are expected to be settled on May 14, 2026 and listed on The Stock Exchange of Hong Kong Limited and the London Stock Exchange. The Green Bonds and the Infrastructure Bonds have been assigned credit ratings of AA- by Fitch, Aa3 by Moody's, and AA+ by S&P Global Ratings. The Hong Kong Monetary Authority acted as the HKSAR Government's representative in the offering of the Green Bonds and Infrastructure Bonds.
The Green Bonds and the Infrastructure Bonds are governed by the HKSAR Government's Green Bond Framework and Infrastructure Bond Framework, respectively. Proceeds raised will be credited to the Capital Works Reserve Fund to finance or refinance eligible green projects and infrastructure projects in accordance with the relevant frameworks.
The HKSAR Government published its Green Bond 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. This framework was subsequently updated in February 2022. Vigeo Eiris, which is 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 publishes the Green Bond Report annually, setting out the allocation of the proceeds raised from green bond issuances and the expected environmental benefits of the projects financed.
The HKSAR Government published the Infrastructure Bond Framework in September2024, setting out how it intends to issue infrastructure bonds under the Infrastructure Bond Programme to fund projects that are conducive to the long-term development of Hong Kong. Allocation of proceeds from infrastructure bond issuances and other relevant details are published in the HKSAR Government's annual Infrastructure Bond Report.
The list of Joint Global Coordinators, Joint Bookrunners, Joint Lead Managers, Joint Green and Sustainable Bond Structuring Banks, and Joint Infrastructure Bond Structuring Banks for the offering of the Green Bonds and Infrastructure Bonds are set out at the attachedAnnex.
Investors' Distribution by Category
Category |
HKD Bonds |
RMB Bonds |
USD Bonds |
EUR Bonds |
Banks |
27% |
86% |
32% |
28% |
Central banks, sovereign wealth funds and international organisations |
2% |
2% |
18% |
22% |
Fund managers, private banks, insurance companies and others |
71% |
12% |
50% |
50% |
The HKD, RMB, and EUR Bonds were offered in Reg S format, and the USD Bonds in 144A / Reg S format (Note).
DISCLAIMER:
THIS ANNOUNCEMENT SHOULD NOT BE MADE AVAILABLE IN, AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION, 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-found images
