Allowing dogs to enter restaurants running smooth in first month
The new measure of allowing dogs to enter permitted restaurants has been implemented for one month since July 9. A spokesman for the Food and Environmental Hygiene Department (FEHD) said today (August 9) that during this one-month adaptation period, the overall operation was generally smooth with a satisfactory level of compliance. Members of the public and restaurants made their choices according to their preferences and needs, and have gradually adapted to the new arrangement.
Photo source: AP News
The spokesman pointed out that the first phase of the new measure sets a quota of 1 000 restaurants, and the number of permitted restaurants has increased from about 940 at the beginning to over 980 at present, reflecting the steady and continuous implementation of the measure in responding to community aspirations. However, the FEHD reminded operators that before applying for allowing dogs to enter, they must carefully consider the market positioning, customer base, and operational conditions of their restaurants, and make sufficient preparations before implementation to achieve the intended outcomes. A waiting list mechanism is established under the policy to ensure that when individual restaurants decide to withdraw, the released quotas can be reallocated swiftly and in an orderly manner.
The spokesman added that it was within expectations that assistance from the department regarding compliance with relevant regulations would be needed in the initial stage of implementation. Following continuous inspections, publicity, and education by the department, individual non-compliant behaviors have been properly rectified. As the adaptation period ends today, the department will conduct flexible inspections based on risk assessments. If non-compliance is detected, enforcement action will be taken immediately without prior warning.
Photo source: AP News
Over the past month, FEHD's dedicated team continued to inspect restaurants across various districts to provide support to each permitted restaurants, as well as enhance the compliance awareness of them and customers through publicity and education. All parties were generally able to comply with the relevant regulations. As of August 8, dedicated officers have conducted about 29 600 inspections of permitted restaurants across various districts, issued a total of 77 verbal warnings, and taken enforcement actions against serious non-compliance behaviors, including issuing warning letters to licensees of three permitted restaurants for persistent non-compliance of cooking or heating food on dining tables, and instituting two prosecutions against failure to securely hold dogs on leashes. In addition, dedicated officers also proactively inspected non-permitted restaurants, and instituted prosecutions against six of them in breach of the regulation for allowing dogs to enter.
The FEHD emphasised that both restaurants and customers must abide by the law and regulations, and expressed hope that all parties will respect each other, earnestly fulfill their respective responsibilities, and jointly promote pet inclusivity.
Photo source: AP News
Chinalco sets up corporate treasury centre in Hong Kong as group's offshore fund management platform
Invest Hong Kong (InvestHK) announced today (October 23) that Aluminum Corporation of China (Chinalco) has set up a corporate treasury centre in Hong Kong, Chinalco Treasury Management Co., Limited (Chinalco Treasury). As the group's offshore fund management platform, Chinalco Treasury will centrally manage the group's offshore funds and handle offshore financing, exchange rate and interest rate risk management, as well as integrated financial services. The move will help this global leader in the non-ferrous metals industry expand overseas, while demonstrating Hong Kong's strengths as the first port of call for Mainland enterprises going global and as a hub for corporate treasury centres.
The Director-General of Investment Promotion, Ms Alpha Lau, said, "We warmly welcome Chinalco Teasury setting up in Hong Kong. As the world's largest offshore Renminbi hub, Hong Kong can provide enterprises with cross-border Renminbi settlement, multi-currency fund management and risk hedging capabilities, while actively promoting the wider use of Renminbi in financing and commodity pricing. Coupled with the city's simple tax regime and free flow of capital, InvestHK hopes that Chinalco will use its treasury centre as a starting point to further establish commodity trading functions in Hong Kong, combining the city's pricing, clearing, financing, and warehousing networks with its own industrial strengths to create mutual synergies."
Ms Lau added, "This year, the HKSAR (Hong Kong Special Administrative Region) Government unveiled the Action Plan to Promote Development of Corporate Treasury Centres in Hong Kong. Its measures include revamping the tax regime and expanding Hong Kong's network of Comprehensive Avoidance of Double Taxation Agreements, which will make the city more competitive as a hub for corporate treasury centres. InvestHK will continue to provide comprehensive support to enterprises at every stage of going global and empower more Mainland enterprises to expand worldwide through Hong Kong."
The Chief Financial Officer of Chinalco, Ms Wang Xin, said, "As the group's overseas industrial presence continues to grow, we need an efficient platform to co-ordinate our offshore funds management. Hong Kong's foreign exchange market is the fourth largest in the world, and the city has well-developed channels for Renminbi financing and trade settlement. Together with the unique advantage of its connection to the Chinese Mainland, Hong Kong will help the group manage its global funds in an integrated way and make its fund operations more efficient and effective."
Ms Wang added, "In the future, Chinalco Treasury will build a fully functional offshore fund management platform for the group. All funds will be pooled, all settlement will be centralised and all risks will be controlled."
InvestHK has been supporting Chinalco Treasury by providing market intelligence, introducing the tax and regulatory arrangements for corporate treasury centres, and connecting it with local industry stakeholders and professional service providers.
Founded in 2001, Chinalco is a key state-owned enterprise under the direct administration of the Central Government. Its industrial chain covers more than 20 non-ferrous metals, including aluminium, copper, lead and zinc, and it operates in over 20 countries and regions around the world. The group has been on the Fortune Global 500 list every year since 2008 and owns six listed companies. Under the Belt and Road Initiative, it has built a number of world-class mineral resources projects in places such as Guinea and Peru. Chinalco Treasury is wholly owned by Chinalco.
For more information about Chinalco, please visit www.chinalco.com.cn.
Chinalco sets up corporate treasury centre in Hong Kong as group's offshore fund management platform Source: HKSAR Government Press Releases
