HKMA Hosts Seminar to Demonstrate Potential of Tokenisation to Corporate Treasurers, Highlighting Hong Kong's Financial Advantages

HKMA demonstrates potential of tokenisation to corporate treasury community

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

The Hong Kong Monetary Authority (HKMA) organised a seminar on Corporate Treasury x Tokenisation: The Hong Kong Advantage in Action earlier this week. This event was the first one organised by HKMA in recent years specifically targeting at corporate treasurers and relevant stakeholders. Over 150 participants attended the event, including representatives from about 50 corporates, 30 financial institutions, and various treasury associations.

Tokenisation holds the potential to enhance efficiency and reduce transaction cost, and is gradually gaining attention among corporate treasurers. As such, the HKMA organised this seminar to demonstrate recent use cases of the technology in corporate treasury operations with a view to enriching practitioners' knowledge in the field and encouraging the industry to join HKMA's initiatives, such as Project Ensemble which aims at fostering the development of Hong Kong's tokenisation ecosystem, as well as to consider issuing tokenised bonds through leveraging HKMA's support measures.

During the event, participants exchanged views in two lively panel conversations covering the Project Ensemble use cases for real-time treasury management, and leveraging tokenisation in bond issuance and trade finance. Panellists generally shared the view that the potential associated with tokenisation is immense, and welcomed the ongoing efforts to promote greater market adoption of the technology, thereby bringing a larger and more active ecosystem.

Following this event, the HKMA will follow up with corporate treasury centres (CTCs) which have indicated interest in the field of tokenisation with a view to exploring plans for future collaboration. In line with the Government's Action Plan to Promote the Development of CTCs in Hong Kong announced yesterday (June 9), the HKMA will also engage CTCs on other topics of interest so as to promote their use of Hong Kong's financial platform and obtain market feedback.

Over 150 guests from corporates, financial institutions and treasury associations attend the seminar on Corporate Treasury x Tokenisation: The Hong Kong Advantage in Action earlier this week. Source: HKSAR Government Press Releases

The Hong Kong Monetary Authority (HKMA) organised a seminar on Corporate Treasury x Tokenisation: The Hong Kong Advantage in Action earlier this week. Photo shows the Executive Director (External) of the Hong Kong Monetary Authority (HKMA),Mr Kenneth Hui (fourth left); the Head (Market Development) of the HKMA, Ms Georgina Lok (third left); the Chief Fintech Officer of the HKMA, Mr George Chou (fifth left); and panel speakers attend the seminar. Source: HKSAR Government Press Releases

Employers, contractors and employees should be aware of electrical safety at work during rainstorms

As the rainstorm warning has been issued by the Hong Kong Observatory, the Labour Department (LD) reminds employers and contractors that they should adopt necessary work arrangements and take suitable safety measures to protect the safety of their employees when they are carrying out electrical work or handling electrical plant.

A spokesman for the LD said today (June 13) that employers and contractors should avoid assigning employees to carry out electrical work (such as electric arc welding work) or handle electrical plant at places affected by rainstorms, and should refer to the "Code of Practice in Times of Adverse Weather and 'Extreme Conditions'" and the "Guide on Safety at Work in times of Inclement Weather" issued by the LD.

Even if electrical work is carried out or electrical plant is handled at places not affected by a rainstorm, suitable safety measures must still be adopted to prevent an electric shock as the air would be more humid. Such measures include:

(i) Ensure that all live parts of an electrical installation are isolated from the power supply source and rendered dead, and the isolation from the power supply source must be maintained as long as electrical work is being carried out;

(ii) Before carrying out any electrical work or handling any electrical plant, cut off and lock out the power supply source, then test the circuit concerned to confirm that it is dead and display suitable warning notices, and issue a work permit thereafter;

(iii) Ensure that protective devices (such as suitable and adequate fuses and circuit breakers) for the electrical installations or electrical plant have been installed and maintained in good working order, and portable electric tools must be double-insulated or properly earthed;

(iv) Provide suitable personal protective equipment such as insulating gloves and insulating mats for employees; and

(v) If live electrical work is unavoidable, a comprehensive risk assessment should be conducted by a competent person and the appropriate safety precautions should be taken to remove or properly control the electrical hazards involved before such work can proceed.

In addition, employees should co-operate with the employer or contractor to follow the safety instructions and use the safety equipment provided.

The LD has published guidebooks and leaflets on electrical work safety. These safety publications are available free from divisional offices of the department or can be downloaded from its website (www.labour.gov.hk/eng/public/content2_8.htm).

Should there be any questions about occupational safety and health matters, please contact the Occupational Safety Officer of the LD at 2559 2297.

Source: AI-found images