HKMA and ICMA to co-host the Green and Social Bond Principles Annual General Meeting and Conference in Hong Kong in June

HKMA and ICMA to co-host the Green and Social Bond Principles Annual General Meeting and Conference in Hong Kong in June

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

     The Hong Kong Monetary Authority (HKMA) and the International Capital Market Association (ICMA) will co-host the Green and Social Bond Principles Annual General Meeting and Conference in Hong Kong in June.
      
     The annual general meeting and conference is a flagship international green finance event, bringing together senior public and private sector representatives from all over the world to discuss market and regulatory developments. This is the first time that this event will be held in Asia, which is home to a rapidly growing green bond market.  Cumulative green bond issuance in Asia reached almost US$80 billion by the end of 2017, with China dominating volumes – at US$31 billion in 2017 alone.
      
     The Chief Executive of the ICMA, Mr Martin Scheck, said: “ICMA is delighted to be able to bring this annual flagship event to Hong Kong in 2018 with the support of the HKMA. The choice of Hong Kong, a prominent and innovative financial centre, recognises the remarkable increased activity in green and social bond markets in Asia and the emergence of China as a leader in green bond market development. Partnership with HKMA on this event will advance the development of sustainable finance in the region and extend the rapidly growing global green and social bond community in Asia.”
      
     The Chief Executive of the HKMA, Mr Norman Chan, said: “We welcome the decision of ICMA and the Green and Social Bond Principles Executive Committee to hold the annual conference in Hong Kong. It is a recognition of Hong Kong as a leading international financial centre.”
      
     “As the Chief Executive of the Hong Kong Special Administrative Region has announced in her Policy Address that the Government will take the lead in issuing a green bond this year, the conference will be timely and help showcase Hong Kong’s credentials as a premier centre for green finance,” Mr Chan added.
      
About the HKMA
 
     The Hong Kong Monetary Authority (HKMA) is the government authority in Hong Kong responsible for maintaining monetary and banking stability. It was established in April 1993 by merging the Office of the Exchange Fund and the Office of the Commissioner of Banking.
      
     The HKMA’s policy objectives are:
    

  • to maintain currency stability within the framework of the Linked Exchange Rate System;
  • to promote the stability and integrity of the financial system, including the banking system;
  • to help maintain Hong Kong’s status as an international financial centre, including the maintenance and development of Hong Kong’s financial infrastructure; and
  • to manage the Exchange Fund.


     For more details, please refer to www.hkma.gov.hk.
      
About ICMA

     The International Capital Market Association (ICMA) is the self-regulatory association for the international capital market with over 530 member institutions from more than 60 countries, including banks, issuers, asset managers, infrastructure providers, law firms, rating agencies and other market participants. It performs a crucial central role in the market by providing industry-driven standards and recommendations for issuance, trading and settlement in international fixed income and related instruments. ICMA’s market conventions and standards have been the pillars of the international debt market for 50 years. ICMA liaises closely with regulatory and governmental authorities, to ensure that financial regulation promotes the efficiency and cost effectiveness of the capital market. For more details, please refer to www.icmagroup.org.
      
About the Green Bond Principles

     The Green Bond Principles (GBP) are voluntary process guidelines that recommend transparency and disclosure and promote integrity in the development of the green bond market by clarifying the approach for issuance of a green bond. The GBP are recognised by a community of over 250 members (investors, issuers and underwriters) and observers globally as a reference for best practice both in developed and developing markets.

About the Social Bond Principles

     The Social Bond Principles (SBP) launched in 2017 extend the use of proceeds concept from the GBP to support bonds raising funds for projects with positive social outcomes, including affordable housing, employment generation, food security and socioeconomic advancement and empowerment.

     Sustainability Bond Guidelines provide guidance for bonds combining green and social projects. Social and sustainability bond market participants are eligible to become members of the GBP/SBP community and are fully integrated in its governance.

 

Ends/Tuesday, January 16, 2018
Issued at HKT 17:07

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Temporary traffic and transport arrangements for tram track renewal works in Eastern District from next Monday

Temporary traffic and transport arrangements for tram track renewal works in Eastern District from next Monday

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     The Transport Department (TD) today (January 16) reminded the public that to facilitate tram track renewal work in Eastern District, the following temporary traffic and transport arrangements will be implemented from about 10am next Monday (January 22) to 10am on January 29 (Monday) or until the above work is completed:

(1) Traffic lane closure
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* A section of the fast lane of North Point Road near King’s Road will be temporarily closed to all vehicular traffic (except trams).

(2) Temporary restricted zone
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* A section of the western kerbside lane of North Point Road near King’s Road will be temporarily designated as a restricted zone 24 hours daily.
 
(3) Transport arrangements
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* The existing green minibus (GMB) stop of Hong Kong Island GMB route No. 65 on North Point Road will be temporarily relocated about 15 metres northward; and
* The metered parking spaces on North Point Road outside Loong Wan Building will be suspended.

     Appropriate traffic signs and road markings will be erected on-site to guide motorists. The TD anticipates that that the traffic in the vicinity of North Point Road and King’s Road will be more congested during the above works period. Motorists should exercise tolerance and patience in cases of traffic congestion. Members of the public are advised to plan their journey in advance and allow sufficient time to cater for unexpected delay, and stay alert to the latest traffic news released via the media.

     Details of the temporary traffic arrangements are now available on the department’s website (www.td.gov.hk).

 

Ends/Tuesday, January 16, 2018
Issued at HKT 17:00

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External Storage Systems Witnessed increased YoY Spending in Q3 2017 Driven by the Government sector: IDC India

NEW DELHI, 16th JANUARY,2018 – India’s External Storage Market witnessed marginal 0.4 percent growth YoY (by vendor revenue) and stood at $66.4 million in Q3 2017 according to IDC’s latest Asia/Pacific Quarterly Enterprise Storage Systems Tracker, Q3 2017. The growth was majorly driven by banking, professional services, manufacturing and government verticals in Q3 2017. Optimization drive for storage infrastructure across organizations stood out to be the leading reason for greater demand for hyper converged infrastructure, software defined storage and cloud technologies.

“Organizations are facing challenges not only on accommodating exponential data growth but also on real-time data processing. Enterprises are demanding for storage infrastructure which can respond fast and help them achieve the desired business outcomes.” Says Dileep Nadimpalli, Associate Research Manager, Enterprise Infrastructure.

While high end storage segment witnessed a high double-digit growth in Q3 2017 due to large deployments from banking vertical, Mid-range and Entry-level segments saw a decline YoY in Q3 2017.

New buyer segments such as third-party datacenters and cloud service providers for storage vendors will be created owing to demand for cloud transformation but would it would cannibalize some portion of traditional storage market coming from the enterprise customers.

“While the overall storage market has tepid growth, there are pockets of storage market which look promising: Midrange storage will continue to grow as they capture market from high end storage. AFA will continue with their increased adoption and is expected to overtake pure HDD deployments in few years,” says Sharyathi Nagesh, Senior Research Manager, Enterprise Infrastructure.

Major Vendors Analysis

Notes: IDC Asia/Pacific Quarterly Enterprise Storage Systems Tracker, Q3 2017

Dell Inc emerged as the market leader with a 26.1 percent market share by vendor revenue, however witnessed a YoY decline in Q3 2017. Hewlett Packard Enterprise gave tough competition to Dell Inc, narrowing the gap in terms of vendor revenue and stood at second position. IBM and HDS witnessed double-digit YoY decline while Huawei and NetApp saw a significant YoY growth in Q3 2017.

IDC India Forecast

The external enterprise storage systems market is expected to grow in single digit in terms of compound annual growth rate (CAGR) for 2016 – 2021 time-period. Increased external storage spending is expected from banking and government sectors in the coming quarters. Organizations have multiple storage infrastructure options (such as All Flash Array, hyper converged, software defined storage, object based etc.) available in the market at competitive price points. With so many available choices, it will be interesting to see how organizations will choose their storage infrastructure.

About IDC Trackers

IDC Tracker products provide accurate and timely market size, company share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC’s Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and on-line query tools. The IDC Tracker Charts app allows users to view data charts from the most recent IDC Tracker products on their iPhone and iPad.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG, the world’s leading technology media, research, and events company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC.

All product and company names may be trademarks or registered trademarks of their respective holders.

For more information on the India External Storage market, please contact

Sharyathi Nagesh, Senior Research Manager, Enterprise Infrastructure, snagesh@idc.com

Dileep Nadimpalli, Associate Research Manager, dnadimpalli@idc.com

For press inquiries please contact

Shabi Hussain, Events and Marketing Communications, sshussain@idc.com

Coverage

Appointments to Quality Education Fund Steering Committee

Appointments to Quality Education Fund Steering Committee

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     The Education Bureau today (January 16) announced the appointment of the Chairman and members to the Quality Education Fund Steering Committee (QEFSC).
      
     Dr Gordon Tsui Luen-on has been appointed as the Chairman of the QEFSC from January 16, 2018, to January 15, 2020. Dr Tsui has been actively participating in education affairs. He is currently the Deputy Chairman of the Joint Committee on Student Finance and a member of the Committee on Professional Development of Teachers and Principals and the Family Council.
 
     The following members have been appointed to the QEFSC:
 
* Mr Stanley Choi Tak-shing
* Ms Joanne Fong Yee-man
 
     The following members have been re-appointed to the QEFSC:
 
* Mr Chan Chi-wai
* Ms Cecilia Lam Siu-ling
* Dr Odalia Wong Ming-hung
 
     The members’ appointments take effect from January 16, 2018, for a term of two years.
      
     “I am confident that with the appointments of Dr Tsui and other members, the Quality Education Fund (QEF) will continue with its excellent work in the promotion of quality school education in Hong Kong,” the Secretary for Education, Mr Kevin Yeung, said.
      
     Mr Yeung extended his heartfelt thanks to the outgoing Chairman of the QEFSC, Mr Duffy Wong Chun-nam.
      
     “Mr Wong has made remarkable contributions to the QEF over the past years. Under his capable leadership, the QEF has achieved significant progress in supporting innovative education projects and raising the quality of education in Hong Kong,” Mr Yeung said.
      
     He also thanked the outgoing members, Mr David Ho Chi-hoo, Ms Ng Yin-kam, Dr Simon Shen Xu-hui and Professor Angelina Yuen Tsang Woo-ki, for their contributions to the QEFSC in the past years.
      
     The QEF was established in early 1998 with capital of $5 billion to fund community initiatives which promote quality education in Hong Kong. The QEFSC advises on the policies and operation of the QEF and also makes recommendations to the Fund’s Trustee on the awards of grants.
      
     Since its establishment, the Fund has supported over 9 600 projects with a total grant amounting to around $4.5 billion.

 

Ends/Tuesday, January 16, 2018
Issued at HKT 16:15

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Total lunar eclipse in Hong Kong on January 31

Total lunar eclipse in Hong Kong on January 31

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     A total lunar eclipse will occur in Hong Kong on January 31 (Wednesday). The event will be visible from most places with an unobstructed view to the east if weather permits.

     The eclipse will begin at 6.50pm on January 31, attain its maximum at 9.30pm and end at 0.10am early next morning. Details of the total lunar eclipse are as follows:
 

Date Hong Kong Time Phenomenon Elevation Direction (Azimuth)
January 31 (Wednesday) 5.59pm Moonrise -1 degree East-northeast
(71 degrees)
6.50pm Moon enters penumbra 10 degrees East-northeast
(76 degrees)
7.48pm Moon enters umbra 23 degrees East(80 degrees)
8.51pm Total eclipse begins 37 degrees East(85 degrees)
9.30pm Maximum eclipse 45 degrees East(88 degrees)
10.08pm Total eclipse ends 54 degrees East(92 degrees)
11.12pm Moon leaves umbra 68 degrees East(101 degrees)
February 1 (Thursday) 0.10am Moon leaves penumbra 80 degrees Southeast
(125 degrees)


     Members of the public can watch the whole event via a webcast to be jointly provided by the Hong Kong Observatory, the Hong Kong Space Museum, the Ho Koon Nature Education cum Astronomical Centre, the Po Leung Kuk Ngan Po Ling College and the Hong Kong Sheng Kung Hui Solar Tower‧Camp on the following webpage: www.hko.gov.hk/gts/event/webcast-20180131.htm.

     The Hong Kong Space Museum, together with local astronomy organisations, will organise an observation activity called “Night of Total Lunar Eclipse” on that day. A number of telescopes will be deployed at Central and Western District Promenade (Central Section), Kowloon Park Piazza and Sha Tin Park Main Plaza to enable the public to watch the eclipse. For details, please refer to the following website: www.lcsd.gov.hk/CE/Museum/Space/en_US/web/spm/activity/observation.html.

     For the weather on January 31 and February 1, please refer to the latest nine-day weather forecast issued by the Observatory at the following webpage: www.hko.gov.hk/wxinfo/currwx/fnd.htm.

     As regards the astronomical observation conditions for that night, please refer to the “Weather Information for Astronomical Observation” webpage: www.hko.gov.hk/gts/astronomy/astro_portal.html.

     The next lunar eclipse observable in Hong Kong will occur on July 28, which will also be a total lunar eclipse.

 

Ends/Tuesday, January 16, 2018
Issued at HKT 15:40

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Coming Up: Startup Grind Fremont – Learn How to Win Over Investors While Fundraising

Startup Grind Fremont is back for another fireside chat on Tuesday, January 30, from 6:30 p.m. to 8:30 p.m. This time, join us as we learn what investors look for when deciding to invest. Hear from Lili Balfour, founder of Ateller Advisor. Startup Grind Fremont will be meeting at its new location: Peerbuds Innovation Labs, located at 4580 Auto Mall Parkway Suite #121 in Fremont (located on the backside of Unitek).

Lili is the founder of Ateller Advisors, where she has advised more than 100 companies to go on to raise over $200 million. She is the creator and host of Finance for Entrepreneurs, a platform that has educated over 10,000 entrepreneurs around the world. In this highly interactive session, Lili will share how to win over investors by speaking in the language they understand. Participants are encouraged to bring specific questions about their fundraising challenges.

Startup Grind Fremont is the Silicon Valley East chapter of the international business startup community that has hosted more than 2,000 fireside chats across 200 cities and 85 countries! Every month or so, we get our local entrepreneurial community together to mix and mingle, hear from a featured speaker, find mentorship, pursue funding, and gain new customers.

Can’t make it to this event? No problem. We have many more events scheduled for the near future. You can find additional information and purchase your tickets HERE.

Hong Kong Customs seizes suspected smuggled gold accessories (with photo)

Hong Kong Customs seizes suspected smuggled gold accessories (with photo)

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     Hong Kong Customs yesterday (January 15) seized a total of about 7.9 kilograms of suspected smuggled gold accessories with an estimated market value of $2.6 million at Lok Ma Chau Control Point.

     Customs officers conducted an anti-smuggling operation and intercepted two outgoing container trucks at Lok Ma Chau Control Point yesterday. After inspection, the batch of suspected smuggled gold accessories was seized inside the driving compartments of the container trucks.

     During the operation, Customs officers arrested two male drivers aged 62 and 64 respectively. Investigation is ongoing.

     Smuggling is a serious offence. Under the Import and Export Ordinance, any person found guilty of importing or exporting unmanifested cargo is liable to a maximum fine of $2 million and imprisonment for seven years.

     Members of the public may report any suspected smuggling activities to the Customs 24-hour hotline 2545 6182.

 

Ends/Tuesday, January 16, 2018
Issued at HKT 14:55

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SWD invites eligible elderly persons to apply for third batch of vouchers under Pilot Scheme on Residential Care Service Voucher for the Elderly

     The Social Welfare Department (SWD) today (January 16) invited eligible elderly persons to apply for the third batch of vouchers under the Pilot Scheme on Residential Care Service Voucher (RCSV) for the Elderly.

     The Scheme, adopting the “money-following-the-user” principle, provides an additional choice for elderly persons in need of residential care service by allowing them to choose the residential care services provided by eligible residential care homes for the elderly (RCHEs) under the Scheme according to their needs.

     A spokesman for the SWD said that the Scheme is being implemented in three phases, with different types of RCHEs joining the Scheme as recognised service providers (RSPs) in each phase. A total of 3 000 RCSVs will be issued to eligible elderly persons in five batches within a period of three years from 2017 to 2019. The first phase and the second phase were launched in March 2017 and September 2017 respectively, and there is a total of 82 RCHEs participating as RSPs offering beds which accept voucher holders as at today. The RSPs are RCHEs providing non-subsidised residential care places which include subvented homes, contract homes, non-governmental organisation-run self-financing homes and EA1 RCHEs under the Enhanced Bought Place Scheme (EBPS).

     Invitation letters were sent today to eligible elderly persons, i.e. those who have been assessed as moderately impaired under the SWD’s Standardised Care Need Assessment Mechanism for Elderly Services and waitlisted for care-and-attention (C&A) places under the Central Waiting List (CWL) for Subsidised Long Term Care Services for the Elderly, with application dates on or before the end of March 2017 (not including those who are RCSV holders, and those whose status on the CWL is “inactive” or who are offered subvented/subsidised placement). They may consider applying for the third batch of RCSVs by February 12.

     The spokesman said that a maximum of 500 vouchers is available for application in the third batch. If the number of applications received upon the close of application exceeds the quota, the applications will be prioritised according to the applicants’ position on the CWL and Comprehensive Social Security Assistance status. Successful applicants will be issued with RCSVs from March 2018 onwards.

     Under the principle of “users pay in accordance with affordability”, the Scheme adopts a sliding scale of co-payment at eight levels (Level 0 to Level 7). Elderly persons will be assessed on an individual basis in the means test in which both income and assets will be taken into account in determining the co-payment level. The payment percentages of the elderly users range from 0 per cent at the lowest to 75 per cent at the highest. The less an elderly person can afford, the more the Government will subsidise. Under the Scheme, the voucher value, which is adjusted annually, is pitched at $12,609 per month for 2017-18. 

     The RSPs will provide a “standard service package” under the voucher value for RCSV holders. The scope of the package is comparable to that of subsidised C&A places under the EBPS. The RCSV holders and their family members may make top-up payments to purchase enhanced or value-added services, such as an upgraded dormitory or acupuncture from RSPs, up to an amount equivalent to 75 per cent of the voucher value in force.

     The spokesman added, “Under the Scheme, the SWD will provide a case management service for the RCSV holders to assist them in selecting suitable RSPs, and provide follow-up support after their admission to RSPs, such as conducting regular visits to them, monitoring their adjustment to the new environment and helping them change RSPs when necessary.

     “The Scheme will provide a six-month trial period for first-time RCSV holders. An RCSV holder’s status on the CWL will be changed to ‘inactive’ once a voucher is issued to him or her. If the RCSV holder decides to opt out of the Scheme during or upon expiry of the trial period, his or her status on the CWL will then be ‘reactivated’. If the RCSV holder decides to continue to stay in the Scheme after the trial period, his or her application on the CWL will be closed.”

     If elderly persons who have received the invitation letters or their carers have enquiries on the Scheme, they may call the RCSV Office of the SWD at 3107 3280 or 3107 3290. The telephone lines will be operating from 9.30am to 1pm and 2.30pm to 5pm on Mondays to Fridays, except public holidays.

     For details of the Scheme and the list of RSPs, which will be updated from time to time, people may visit the SWD website (www.swd.gov.hk). Moreover, citizens may also browse the SWD Elderly Information Website (elderlyinfo.swd.gov.hk) to get more details on topics such as manpower and facilities about each of the RSPs.

New IDC MarketScape Evaluates Point of Sale Software Vendors in Large Enterprise Retail Apparel & Softlines

POS software vendors respond to demands of omni-channel commerce and rising consumer expectations

FRAMINGHAM, Mass., January 16, 2018 – As the omni-channel ante goes up, retailers must deploy point-of-sale (POS) solutions that can deliver the seamless, frictionless, cross-channel customer experience that today’s consumers expect. To highlight those vendors that are leading their POS innovation, IDC Retail Insights recently published IDC MarketScape: Worldwide Point-of-Sale Software in Large Enterprise Retail Apparel and Softlines 2017 Vendor Assessment (Doc #US42709817).

The first in a new series of IDC MarketScapes for the apparel and softlines retail sector, this new report examines POS software vendors’ capabilities against a broad list of omni-channel scenarios and capabilities in the areas of technical capabilities, integration, customer (record/engagement), product, transaction management, and fulfillment. The ten vendors evaluated in the Large Enterprise report include: Aptos Inc., Cegid, Diebold Nixdorf Inc., Fujitsu Ltd., GK Software AG, Infor Retail, NCR Corp., Oracle, PCMS Group Ltd. and Veras Retail. A follow-on IDC MarketScape will address small and midsize business (SMB) apparel and softlines retailers.

With the rise of hypercompetitiveness in the retail sector, delivering a differentiating immersive experience has become the obsessive focus of retailers that want to not only survive, but thrive and prosper. At the center of the store systems that can impact this is the POS. POS systems have, in fact, been at the top of the list of the hardware and software IT investments that stores have been making for at least the past two years, according to IDC’s research. To assess how well POS software vendors are adapting their solutions to offer these new scenarios, IDC delivers the new IDC MarketScape series to provide an extended look at specific retail sectors.

Based on this research, IDC provides a number of recommendations:

  • Customer Journey– Retailers should understand their particular experiential retail mission, their customer journeys, and what this means for their requirement for a best-of-breed point of sale versus an omni-channel commerce suite, in order to make the best POS software solution investment.
  • Technology. Retailers also need to take a close look at the underlying technology, understand the vendor’s technology strategy and stack, and what the POS software vendor is doing to future-proof their technology stack. Included should be a consideration of the vendor’s ecosystem strategy, and how the integration process with partners is structured.
  • Single Real-Time View of Customer, Product, and Shopping Cart. Retailers and POS software vendors need to talk about how the POS technology will deliver a single, real-time omni-channel view of customer, shopping cart, and inventory across the enterprise. Is this a native capability available out of the box? What Order Management System or capability is provided?
  • Omni-channel POS Functions and Use Cases. Omni-channel commerce areas that should be probed in an assessment of POS software solutions include technical and integration, customer (record, and engagement); product; transaction management, and order/fulfill anywhere; this should be aided by explicit omni-channel use cases or customer journey roadmaps from the POS software vendors.

“Our research provides a comprehensive look at the point-of-sale software vendor landscape from a fresh perspective. While the omni-channel commerce retail environment is changing rapidly, the POS continues to be the central nervous system for the store. To respond to the escalating expectations of consumers in this hypercompetitive industry, POS vendors must deliver technology that can support a differentiating, immersive customer experience,” said Robert Eastman, research manager, Worldwide Retail Technology Strategies at IDC Retail Insights. “This research should serve to highlight the vendors with omni-channel commerce-enabled offerings in the apparel and softlines sector, and which vendors are leading in their POS innovation.”

IDC MarketScape criteria selection, weightings, and vendor scores represent well-researched IDC judgment about the market and specific vendors. IDC analysts tailor the range of standard characteristics by which vendors are measured through structured discussions, surveys, and interviews with market leaders, participants and end users. Market weightings are based on user interviews, buyer surveys and the input of a review board of IDC experts in each market. IDC analysts base individual vendor scores, and ultimately vendor positions within the IDC MarketScape, on detailed surveys and interviews with the vendors, publicly available information and end-user experiences in an effort to provide an accurate and consistent assessment of each vendor’s characteristics, behavior and capability.

For additional information about this report or to arrange a one-on-one briefing with Robert Eastman, please contact Sarah Murray at 781-378-2674 or sarah@attunecommunications.com. Reports are available to qualified members of the media. For information on purchasing reports, contact insights@idc.com ; reporters should email sarah@attunecommunications.com.

About IDC MarketScape

The IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of IT, telecommunications, or industry-specific suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT, telecommunications, or industry-specific vendors can be meaningfully compared. The framework also provides technology buyers with a transparent foundation to allow companies to independently compare the strengths and weaknesses of current and prospective vendors.

About IDC Retail Insights

IDC Retail Insights assists retail businesses and IT leaders, as well as the suppliers who serve them in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing asset intensive, brand-oriented, technology-oriented, and engineering-oriented retail industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading media, data and marketing services company that activates and engages the most influential technology buyers. For more information, please visit www.idc-ri.com, email info@idc-ri.com, or call 508-988-7900. Visit the IDC Retail Insights Community at http://idc-community.com/retail.

Coverage

Renewal of taxi permits to tie in with extended relaxation of restricted zones for taxis

Renewal of taxi permits to tie in with extended relaxation of restricted zones for taxis

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     The Transport Department (TD) announced today (January 16) that to tie in with extended relaxation of restricted zones for taxis for 12 months, new restricted zone permits for taxi owners/drivers will be issued starting January 24.
 
     A TD spokesman said, “Since the existing restricted zone permits of taxis will expire after January 31, 2018, taxi owners/drivers are required to replace their existing permits with the new ones. The TD will set up counters at 16 designated LPG refilling stations (see Annex) from January 24 to 26 for the issue of new permits from noon to 6pm daily. Permit renewal services will also be available at the TD’s four licensing offices in Admiralty, Cheung Sha Wan, Kwun Tong and Sha Tin from January 24.”
 
     The spokesman added that taxi owners/drivers are required to bring along and show their existing permits at these counters to obtain the new ones.
 
     As the existing relaxation of peak hours and “7am to 7pm/8pm” no-stopping restrictions on roads with speed limits less than 70 kilometres per hour for taxis has not caused traffic obstruction on the whole, and can enable taxis to provide better point-to-point service to passengers, the Government decided to extend the relaxation for 12 months, from February 1, 2018 to January 31, 2019. As in the current arrangement, taxis can pick up/drop off passengers in these restricted zones, but waiting will not be allowed.
 
     The spokesman reminded taxi drivers to continue to exercise self-discipline and to strictly observe the “pick up, drop-off and go” and “no waiting” rules. The TD and the Police will closely monitor the implementation situation of this relaxation scheme. If there are violations of the rules causing obstruction to other road users, the Government will consider terminating the relaxation scheme wholly or in part before the expiry of the relaxation.
 
     The TD and the Police will continue to closely monitor the traffic situation. The Police will also take appropriate enforcement action against taxi drivers who do not observe the “pick up, drop-off and go” and “no waiting” rules.
 
     Enquiries about the relaxation and arrangements for permit renewal can be directed to the 1823 Call Centre.

 

Ends/Tuesday, January 16, 2018
Issued at HKT 14:31

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