Three incoming passengers convicted and jailed for importing duty-not-paid cigarettes and alternative smoking products
Three incoming passengers were sentenced to six to nine months' imprisonment by the West Kowloon Magistrates' Courts today (October 16) for importing duty-not-paid cigarettes, failing to declare them to Customs officers, as well as importing alternative smoking products, in contravention of the Dutiable Commodities Ordinance (DCO) and the Import and Export Ordinance (IEO).
Customs officers intercepted an incoming Mainland male passenger, aged 40, and two incoming Mainland female passengers, aged 42 and 38, at Hong Kong International Airport yesterday (October 15) and seized 146 600 duty-not-paid cigarettes and 6 000 alternative smoking products, with an estimated market value of about $680,000 and a duty potential of about $480,000, from their personal baggage. The three passengers were subsequently arrested.
Customs welcomes the sentences. The custodial sentences have imposed a considerable deterrent effect and reflect the seriousness of the offences.
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.
Under the IEO, any person who imports an alternative smoking product into Hong Kong 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).
Three incoming passengers convicted and jailed for importing duty-not-paid cigarettes and alternative smoking products Source: HKSAR Government Press Releases
Three incoming passengers convicted and jailed for importing duty-not-paid cigarettes and alternative smoking products Source: HKSAR Government Press Releases
FS attends Annual Meetings of IMF and World Bank Group in Bangkok
The Financial Secretary, Mr Paul Chan, continued his visit to Bangkok, Thailand, today (October 16). As a member of the Chinese delegation, he attended the plenary session of the Annual Meetings of the International Monetary Fund and the World Bank Group (WBG). He also took part in discussions organised by financial media and a think tank, met with senior executives of international financial institutions and enterprises, and hosted a dinner for financial sector leaders to highlight Hong Kong's development opportunities and promote financial and investment co-operation.
At a fireside chat organised by Bloomberg, Mr Chan outlined how Hong Kong's First Five-Year Plan aligns with the National 15th Five-Year Plan, providing clear development directions and goals for the public and businesses. He said that Hong Kong would focus on developing the "four centres and one hub", reinforcing and enhancing its status as an international financial, shipping and trade centre. Hong Kong would also leverage its strengths and work in tandem with other cities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to advance its development as an innovation and technology (I&T) centre.
Mr Chan stressed that financial development must serve the real economy. Hong Kong would deepen its "Finance+" strategy to empower different industries, support enterprises in upgrading and transformation, and provide venture capital, patient capital and long-term funding for I&T to accelerate the development of emerging industries. Hong Kong would also continue to broaden its financial products and services, develop commodities trading, enhance its listing regime and further facilitate financing for technology enterprises. To meet the needs of Mainland enterprises expanding overseas and reorganising their production and supply chains, Hong Kong would provide comprehensive support covering logistics, supply chain management, trade finance, risk management and professional services. The Government would also proactively address enterprises' needs through cross-departmental collaboration.
He said that Hong Kong's international character is a core strength that must be continuously reinforced and enhanced. While strengthening ties with mature markets such as Europe and the United States and attracting international capital, Hong Kong would deepen co-operation with emerging markets in Southeast Asia, the Middle East and Central Asia. It would open up two-way investment opportunities by bringing together capital and industries to meet development needs across these markets. Beyond promoting business and trade exchanges, Hong Kong would leverage its financial and professional services strengths, including green and sustainable finance and trade finance, to support infrastructure, supply chain and industrial development in the region, growing together with its regional partners.
On offshore Renminbi business, Hong Kong is expanding its range of investment products, enhancing custody and collateral management infrastructure, and increasing liquidity to add depth and breadth to the market. Hong Kong would also develop gold storage, clearing and settlement services and related financial products, and explore closer connectivity with the Mainland gold market. These efforts would build a more comprehensive gold trading ecosystem and offer international investors more choices.
Mr Chan said that "one country, two systems" provides Hong Kong with an institutional advantage for its long-term development, while talent is a key driving force for its future growth. Hong Kong would remain free, open, diverse and inclusive, welcoming enterprises and talent from around the world to establish and pursue careers in the city, as well as young people to study here, and encouraging them to become part of its future. Hong Kong would continue to attract international talent, promote exchanges across regions and cultures, and further strengthen its role in connecting the Mainland with the world.
Mr Chan also took part in a broadcast fireside chat hosted by the Atlantic Council, a US think tank. He outlined the latest developments in Hong Kong's financial markets and how its first five-year plan would advance I&T, promote the integrated development of education, technology, talent and industries in the Northern Metropolis, and deepen co-operation with other GBA cities in I&T industries. On digital assets, he said that Hong Kong embraces financial innovation with an open mind. With equal emphasis on regulation and development, Hong Kong would take a prudent and measured approach to developing areas such as digital asset exchanges and stablecoins to better serve the real economy.
Mr Chan also met with the Managing Director and Chief Administrative Officer of the WBG, Mr Zhang Wencai, today. They exchanged views on the global and regional economic outlook and deepening co-operation between Hong Kong and the WBG. Mr Chan said that Hong Kong could combine its strengths in capital markets and professional services with the project experiences and networks of multilateral development institutions to channel more private market capital and philanthropic funding into infrastructure and sustainable development projects in the region. A range of financial instruments could also be used to enhance project financing and risk management.
Mr Chan also met with the management of a major European digital bank to discuss fintech development, digital banking services and cross-boundary payments, and outlined opportunities in Hong Kong's financial markets. He welcomed the bank to establish a presence in Hong Kong and leverage the city's vibrant financial services ecosystem, well-established financial infrastructure, professional talent and international networks to explore innovative financial services and expand its regional business.
In the evening, Mr Chan attended a dinner organised by the Hong Kong Economic and Trade Office in Bangkok, where he met with senior executives of major Thai banks and other financial institutions. He shared the latest developments in Hong Kong's economy and financial services sector and explored opportunities to further strengthen financial co-operation between the two places.
Mr Chan will continue his visit to Bangkok tomorrow morning (October 17) before departing for Hong Kong, arriving in the afternoon.
FS attends Annual Meetings of IMF and World Bank Group in Bangkok Source: HKSAR Government Press Releases
FS attends Annual Meetings of IMF and World Bank Group in Bangkok Source: HKSAR Government Press Releases
FS attends Annual Meetings of IMF and World Bank Group in Bangkok Source: HKSAR Government Press Releases
FS attends Annual Meetings of IMF and World Bank Group in Bangkok Source: HKSAR Government Press Releases
FS attends Annual Meetings of IMF and World Bank Group in Bangkok Source: HKSAR Government Press Releases
FS attends Annual Meetings of IMF and World Bank Group in Bangkok Source: HKSAR Government Press Releases
