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EPD takes action on concrete plants

The Environmental Protection Department said it does not tolerate concrete batching plants operating without a licence and will make every effort to stop any illegal operations.   The department made the statement in response to media reports yesterday of a concrete batching plant at 20 Tung Yuen Street in Yau Tong continuing to operate without holding a valid Specified Process Licence (SPL).   The department has been closely monitoring the operation of two plants, both owned by China Concrete. The other plant is at 22 Tung Yuen Street in Yau Tong.   Regarding the plant at 20 Tung Yuen Street, the Air Pollution Control Appeal Board dismissed an appeal lodged by China Concrete against the department’s refusal of its application for renewal of an SPL for the plant on November 22.   Under the Air Pollution Control (Specified Processes) Regulations, the plant’s SPL ceased to be valid with immediate effect and the department issued a letter requesting that all works be halte

Financial leaders meet

The Financial Leaders Forum, chaired by Financial Secretary Paul Chan, held its 16th meeting today.   Members were briefed by the Financial Services & the Treasury Bureau and financial regulators on the legislative proposals of introducing a fund re-domiciliation mechanism in Hong Kong.   They agreed that the proposals would help attract investment funds to set foot in Hong Kong, entrenching the city’s position as an international asset and wealth management centre.   During the meeting, the Securities & Futures Commission and the Hong Kong Exchanges & Clearing (HKEX) briefed members on the latest position of their study on a possible listing regime for special purpose acquisition companies in Hong Kong.   Members noted that the HKEX will consult the market on concrete proposals in the third quarter.   The bureau and financial regulators also briefed members on their work in examining how to further enhance Hong Kong's competitiveness as an international financial centre.   Additionally, members noted the latest progress and key legislative proposals to take forward the eMPF Platform project.   As a public utility and sophisticated infrastructure in the financial sector, the platform will allow room for fee reduction for the benefit of the Mandatory Provident Fund Scheme's members through enhanced operational efficiency and economies of scale.
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