dlberek posted a photo:

Milan Sekiz posted a photo:

Here is bottom part. This one has 4 portals guarded by some nice ladies. Those portals are also teaser for some future MOCs. I am working on the roof for this underground hall, when finished I will post the whole MOC

Milan Sekiz posted a photo:

Here is bottom part. This one has 4 portals guarded by some nice ladies. Those portals are also teaser for some future MOCs. I am working on the roof for this underground hall, when finished I will post the whole MOC

N. O. Malykh and I. S. Postevoy
Theor. Probability and Math. Statist. 99 (2020), 189-198.
Abstract, references and article information

S. S. Lohvinenko and K. V. Ralchenko
Theor. Probability and Math. Statist. 99 (2020), 149-168.
Abstract, references and article information

N. N. Leonenko, I. Papić, A. Sikorskii and N. Šuvak
Theor. Probability and Math. Statist. 99 (2020), 137-147.
Abstract, references and article information

Yu. V. Kozachenko and I. V. Rozora
Theor. Probability and Math. Statist. 99 (2020), 113-124.
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D. V. Gusak and E. V. Karnaukh
Theor. Probability and Math. Statist. 99 (2020), 77-89.
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S. V. Bodnarchuk and O. M. Kulyk
Theor. Probability and Math. Statist. 99 (2020), 53-65.
Abstract, references and article information

I. Arab and P. E. Oliveira
Theor. Probability and Math. Statist. 99 (2020), 19-37.
Abstract, references and article information

D. Pauly and S. Repin
St. Petersburg Math. J. 31 (2020), 533-555.
Abstract, references and article information

N. V. Krylov
St. Petersburg Math. J. 31 (2020), 509-520.
Abstract, references and article information

N. G. Kuznetsov
St. Petersburg Math. J. 31 (2020), 395-399.
Abstract, references and article information

Maciej Bocheński and Aleksy Tralle
Proc. Amer. Math. Soc. 148 (2020), 2743-2744.
Abstract, references and article information

Xiaodong Cao, Bennett Chow and Yongjia Zhang
Proc. Amer. Math. Soc. 148 (2020), 2595-2600.
Abstract, references and article information

Cédric Arhancet
Proc. Amer. Math. Soc. 148 (2020), 2551-2563.
Abstract, references and article information

Quanlei Fang and Jingbo Xia
Proc. Amer. Math. Soc. 148 (2020), 2497-2507.
Abstract, references and article information

Qingying Bu
Proc. Amer. Math. Soc. 148 (2020), 2459-2467.
Abstract, references and article information

The Security Bureau today said that the last Hong Kong resident who had contracted COVID-19 while aboard the Diamond Princess cruise ship and was hospitalised in Japan has returned to Hong Kong.

Immigration Department staff that assisted Hong Kong residents in Japan have completed their mission and returned to Hong Kong as well.

In early February, a cluster of COVID-19 infection cases occurred on the Diamond Princess cruise docked in Yokohama.

Of some 3,700 passengers and crew, about 370 were from Hong Kong. The 712 confirmed COVID-19 cases associated with the cruise included 76 Hong Kong residents who were hospitalised in Japan for isolation and treatment.

While three Hong Kong residents passed away, the remaining 73 patients returned to Hong Kong or their places of residence after being discharged from the hospital.

As for other Hong Kong residents on the cruise, the bureau noted that the Hong Kong Special Administrative Region Government arranged three flights, between February 19 and 23, to escort 193 of them back to the city.

Upon arrival, they were transferred to the quarantine centre at Chun Yeung Estate to undergo 14 days of quarantine.

Another 144 Hong Kong residents returned on their own via other flights, including 25 close contacts of the patients who had completed quarantine in Japan.

For those who returned to Hong Kong on their own and did not complete 14 days of quarantine in Japan, they were required to complete the remaining quarantine period at a quarantine centre.

Of the 231 cruise passengers admitted to the quarantine centre at Chun Yeung Estate, nine tested positive for COVID-19 and were sent to hospitals for isolation and treatment.

The Hong Kong SAR Government expressed profound condolences on the passing of the Hong Kong patients and its deepest sympathies to their families.

The SAR Government emphasised that the incident could not have been resolved smoothly without the staunch support of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region, the Embassy of the People’s Republic of China in Japan and Japanese authorities.

The SAR Government also thanked Cathay Pacific Airways and the Airport Authority for their assistance, the bureau added.

A total of 27 Hong Kong residents who left Morocco on a chartered flight arranged by the Chinese Embassy in the Kingdom of Morocco arrived in Guangzhou today.

Among them, 26 people subsequently took the coaches arranged by the Hong Kong Special Administrative Region Government to return to Hong Kong through the Shenzhen Bay Port and have arrived at AsiaWorld-Expo.

One Hong Kong resident chose to stay in Guangzhou for a 14-day isolation period for medical surveillance in accordance with the relevant requirements.

Secretary for Justice Teresa Cheng today emphasised that Chief Justice Geoffrey Ma had stated he has not experienced interference from Mainland authorities.

Speaking to the media at the Legislative Council, Ms Cheng called on the public to read the Chief Justice’s statement in response to a media report about Hong Kong’s judicial independence.

Ms Cheng said: "The Chief Justice stated that since his taking office in 2010, he has not encountered nor experienced any interference from the Mainland authorities in any shape or form that affects judicial independence, including the appointment of judges.

"Nothing is better than the direct evidence of the Chief Justice himself telling us that there is not any such interference."

Police today welcomed the Communications Authority’s decision that Radio Television Hong Kong (RTHK) should be seriously warned regarding complaints against an episode of its programme Pentaprism broadcast on November 20, 2019.

Police said it had taken note of the press release issued by the authority on April 20 about its decision.

The authority found that the host’s remarks made in the programme were irresponsible and could be regarded as hate speech with the effect of inciting hatred against Police.

The remarks were also unfair to and were capable of adversely affecting Police’s reputation.

The authority took the view that the complaints in respect of accuracy, incitement of hatred and fairness were substantiated and decided that RTHK should be seriously warned.

Since the anti-extradition bill protests in June last year, rumours have been circulating to defame and smear Police in an attempt to disrupt its relations with the community, the force said.

Police reiterated that they are willing to accept criticisms which are constructive and based on goodwill, but they do not accept inaccurate or misleading reports and remarks, and will follow up as appropriate.

The first batch of about 300 Hong Kong residents stranded in Pakistan will take a chartered flight tentatively scheduled to leave Islamabad on the morning of April 30 and arrive in Hong Kong in the afternoon.

In a statement today, the Security Bureau said the returnees upon arrival at Hong Kong International Airport will proceed to the Temporary Specimen Collection Centre at AsiaWorld-Expo by coach for compulsory COVID-19 testing before they are transferred to the quarantine centre at Chun Yeung Estate for a 14-day quarantine.

In view of the COVID-19 situation, the Pakistan Government banned all international flight movements since late March, resulting in Hong Kong residents there being unable to return to Hong Kong through normal means.

The Immigration Department has received requests for assistance from Hong Kong residents stranded there and as at yesterday, it has successfully contacted about 1,600 of them.

Due to the large number of people requesting assistance and having regard to the returnees' quarantine arrangements, the capacities for testing, and the quarantine and treatment facilities, the Hong Kong Special Administrative Region Government must adopt a phased approach in assisting their return, subject to the circumstances.

The first batch of Hong Kong residents on the chartered flight are those staying in Islamabad and its surrounding areas. They also include people with special needs such as those with illnesses and pregnant women.

The cost of taking the chartered flight is about $6,000 per person and is borne by the user.

The Security Bureau said the chartered flight could not have been arranged smoothly without the staunch support of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region (OCMFA) and the Chinese Embassy in Pakistan, as well as the full co-operation rendered by the Pakistan Government and the Consulate General of Pakistan in Hong Kong.

The bureau said the Hong Kong SAR Government will continue to liaise with the residents still in Pakistan and assist in their return.

Meanwhile, a flight will arrive from Doha this afternoon carrying about 170 Hong Kong residents returning from Pakistan themselves.

The bureau added that upon their arrival in Hong Kong, they will be arranged to leave deep throat saliva samples at the Temporary Specimen Collection Centre before being admitted to the quarantine centre at Chun Yeung Estate for a 14-day quarantine.

Apart from Pakistan, the Indian Government has also since late March banned all international flight movements. As at yesterday, the Immigration Department has successfully contacted about 3,100 Hong Kong residents stranded there who sought assistance to return home.

The Hong Kong SAR Government is maintaining close contact with the OCMFA, the Chinese Embassy in India and the Consulate General of India in Hong Kong, while also contacting several airlines to arrange return flights to Hong Kong.

The violence and vandalism in recent months sparked a crisis of confidence of our rule of law. The so-called justice lawbreaking or civil disobedience is never justified under the law. I urge all of you not to engage in any illegal activities.

The Court of Final Appeal in its judgment (FACC8-10/2017) pointed out that: (1) unlawful assemblies involving violence, even a relatively low degree, will not be condoned and may justifiably attract sentences of immediate imprisonment in the future; and (2) little weight will be given to the mitigation that the offending act was committed in the exercise of constitutional rights or acts of civil disobedience because the fact of a conviction will necessarily mean the offender has crossed the line separating the lawful exercise of his constitutional rights from unlawful activity subject to sanctions and constraints.

There are suggestions that deliberate lawbreaking might be considered to achieve objectives, however, this would bring a wrong concept of the rule of law. The escalated violence and vandalism in the last few months have also undermined the perception of the rule of law among the public. My colleagues and I would promote and publicise the correct concept of the rule of law to the citizens through different channels. In analysing the current situation, I hope that we all could remain reasonable and objective by keeping an open mind, being informed and considering all relevant facts before coming to a conclusion.

Our rule of law has been highly regarded, and such an achievement was not easy to come by. We should all join hands to cherish and safeguard our rule of law. Abiding by the law is one of the many obligations that ought to be observed by the public. Law exists in practice but it should not only be practised by lawyers, judges and governments. More importantly, the rule of law should be observed and respected by the community as a whole. The Government would continue to be strongly committed to upholding the rule of law.

Secretary for Justice Teresa Cheng wrote this article and posted it on her blog on December 22.

On this last Sunday of 2019, I wish every Hong Kong citizen a warm, peaceful and hopeful year 2020.

A New Year holds welcome promises of a fresh start and a new beginning. The New Year is also traditionally a time for planning, greeting, reminiscing as well as some soul and heart searching.

I believe that many of you would share my feeling that the year 2019 has been a year of unremitting shocks and turbulence to our community and our economy. Indeed, it has been a severely testing time for all in Hong Kong.

It all began with the introduction into the Legislative Council of the bill to amend the Fugitive Offenders Ordinance in April. Responding to strong public sentiment, the Government suspended all work on the bill in mid-June and declared its death in early July. On September 4, the Chief Executive announced the bill's withdrawal. This was done on October 23 when the Legislative Council resumed normal business.

Despite this, the public protests which began as largely peaceful and orderly marches in June soon got out of control. Unprecedented violence and reckless destruction became the norm. Radical protesters attacked police officers as well as police stations and facilities with petrol bombs, iron bars, bricks and chemicals. Some even used high-tension slingshots, bows and arrows. During the past six months or so, over 2,600 people were injured in the social unrest, including over 500 police officers.

Meanwhile, public infrastructure and transport including a cumulative total of 85 heavy rail stations and 62 light rail stations, as well as countless shops, restaurants and shopping malls had been repeatedly vandalised. More so, nearly 21,000 square metres of paving blocks from footpaths were ripped up and used as weapons to attack Police. Over 52,000 metres of roadside railing were removed and 740 sets of traffic lights destroyed.

Last month, masked protesters battered the Hung Hom Cross-Harbour Tunnel, shutting it down for two full weeks. This vital city artery normally carries 110,000 vehicles a day, accounting for some 43% of the daily cross-harbour vehicular flow. It took a total of 800 government staff and contractor's workers some 100 hours to carry out emergency repair round-the-clock before the tunnel could be reopened. At the same time, nearby Polytechnic University was overrun by radical protesters. The same happened to the Chinese University.

Apart from recklessly damaging our universities, violent protesters turned the two campuses into arsenals on a frightening scale. When the last of the protesters finally left the universities, Police seized altogether nearly 8,000 petrol bombs plus numerous explosives, hundreds of bottles of corrosive liquid and weapons of all sorts.

This level of premeditated and organised destruction and violence could hardly be tolerated in any country or economy that upholds the rule of law. Hong Kong, I am proud to say, is among those economies that believe passionately in the primacy of rule of law. It safeguards our economy, our community, our families and our way of life.

In fact, the rule of law is among Hong Kong's much cherished core values, alongside our fiercely independent judiciary, clean government, level playing field for business and enviable freedoms. These freedoms, as enshrined in the Basic Law and the Hong Kong Bill of Rights Ordinance, include freedom of speech, of the press and free flow of information; freedom of association and assembly; free trade and free port; free flow of capital; freely convertible currency; freedom of religious belief and free education. We have also been the freest economy in the world continuously for 25 years. The unique "one country, two systems" formula has been functioning well and we enjoy the best of both worlds.

Despite the recent social unrest which has affected our economy and labour market, Hong Kong's institutional strengths remain robust and intact. Our fundamentals stay sound and strong. We still enjoy a high rating in various areas by international think tanks and agencies. Allow me to say that whilst Hong Kong may not have the full semblance of Western democracy, we do enjoy for a very long time the full substance of real freedom which underpins Hong Kong's success.

Over the past six months, most of the requests for public meetings, processions and protests were given the greenlight by Police. During these public events, be it small or large, Police had dutifully facilitated and ensured the safety of protesters and other road users. When the requests were not approved, it was generally a decision made in the hopes of preventing violence, ensuring peace and public order, as our society has every right to expect of its police and its government.

On November 24, we witnessed a peaceful and orderly District Council Election with a record high turnout and voting rates. My colleagues and I are looking forward to working with all new District Council members. We also look forward to expanding our dialogue with the community. While we will continue to engage different sectors of society through our usual channels, the Government will broaden and rejuvenate our communication with the public. Less than two weeks ago and after the one by the Chief Executive in September, my Principal Official colleagues have started a dialogue with the public through Facebook live. You will certainly see more of us listening and responding to people's views and concerns on these and other communication channels in the coming year.

We are also establishing an Independent Review Committee comprising experts and community leaders. The committee will look into the causes and full circumstances of the social unrest and probe into Hong Kong's deep-seated social conflicts, from affordable housing, land supply, wealth gap, upward social mobility and opportunities for our young people to social justice. The committee will recommend ways to address the real and long-entrenched community concerns that underlie the discord.

Meanwhile, our economy is inevitably affected by the twin blows of social unrest and the trade dispute between the United States and the Mainland. Businesses and people of Hong Kong are yearning for the restoration of peace and order soonest possible, and the recovery of our economy.

In response, the Government has launched four rounds of relief measures since August. These added up to more than $25 billion. A number of the measures which will benefit grassroots families and small and medium enterprises will be implemented at the beginning of the New Year.

These relief measures would not solve our economic problems. Yet, they could help businesses and people of Hong Kong stay afloat while we strive to heal our divided community and battered economy.

There are deep-seated issues that we must acknowledge and resolve if we are to end the prolonged social unrest that has shaken the familiar Hong Kong which we all love and cherish. We must be patient and perseverant in helping our city to heal, one step at a time.

The past six months have been tough for us, but we will soldier on. Hong Kong is a remarkably resilient and resourceful international city with a strong can-do spirit. We have a New Year waiting for us. We have new and expanded channels of communication opened up for us. We expect the first report of the Independent Police Complaints Council to come out soon. And we have research and concrete recommendations of the Independent Review Committee ahead of us. Working together, I am confident that we can rebuild, reclaim and rejuvenate the remarkably resilient spirit of Hong Kong.

On this note, I wish all of you a New Year blessed with peace, harmony and goodwill.

Chief Secretary Matthew Cheung gave these remarks on RTHK's "Letter to Hong Kong" programme aired on December 29.

We are less than two weeks into the new year and already, geo-political concerns, large and alarming, dominate the news. Still, I believe the year ahead will mark a milestone for Asia. Asian economies, in terms of purchasing power parity, will become larger than the rest of the world combined for the first time since the 19th century. That represents a quantum leap from about one-third just two decades ago. Asia this year will also be home to half of the middle class of the world. That heralds enormous business opportunities for the world at large. Indeed, Asia, powered by Mainland China, has for some time been a global growth engine.

Hong Kong, with its strategic regional location, and its extensive, ever-deepening cultural and financial links with the Mainland, is China's international financial centre, contributing to the sustainable progress of the country, the region and the world.

In pursuing sustainable development, quality as well as quantity counts. Today's economies are exploring growth through innovation and technology, while seeking inclusiveness. They are, to be sure, hard-won goals given the unprecedented challenges we've faced over the past two years: the global economic slowdown, trade disputes among major economies, geopolitical uncertainties and local issues. But if we cannot direct the wind, we can surely adjust our sails, which has been what we are doing here in Hong Kong. Thanks to lessons learned and measures implemented, particularly since the Asian financial crisis, Hong Kong's financial system remains stable and remarkably successful.

Globally competitive

Our core competitiveness, and our status as one of the world's premier financial centres, continues to be internationally recognised. Last September, we again ranked third in the world in the Global Financial Centres Index, just behind New York and London. That's a compelling statement of confidence in our freely convertible currency, our world-class banking system and stock market and the professionals who power our financial sector. It's a telling reflection of our strategic geographic location and sophisticated connections to global financial markets. It's recognition, too, of the free flow of capital within, into and out of Hong Kong, as enshrined in Article 112 of the Basic Law. More than capital flows, information and people also move effortlessly in and out of Hong Kong.

People around the world are confident in our regimes. They take reassurance in our trusted and bilingual common law system, our sound financial regulatory framework, low taxes and deep connections with the Mainland and the rest of the world. It helps, too, that Hong Kong again topped the world in 2019 in funds raised through initial public offerings, taking in about US$40 billion in 2019. That marked the seventh time in the past 11 years in which Hong Kong has led the world in IPOs.

Hong Kong is also the first international financial centre to have laid down a clearly-defined and comprehensive regulatory regime for listed companies with weighted voting rights structures and additional corporate governance and disclosure requirements. It's clearly working. Hong Kong is now the second-largest fundraising venue in the world for biotech companies. And, of course, the Alibaba Group Holding's secondary listing on our stock market in late November was one of the world's biggest stock offerings of 2019. The decision by the e-commerce giant - one of the Mainland's largest e-commerce companies and Asia's most valuable listed companies - may well encourage other Mainland enterprises listed elsewhere, to expand their investor links into the Asian region, with Hong Kong as their base.

Then there's the Guangdong-Hong Kong-Macao Greater Bay Area development. With a population of 71 million and a combined GDP of US$1.6 trillion, the Greater Bay Area and its huge market potential present boundless promise for Hong Kong, particularly our financial services sector.

Innovation will drive development in the bay area. Measures will be rolled out to expand the flow of capital and people, opening up new markets and business opportunities thanks to enhanced connectivity. Among others, with the support of the Central Government, especially a Leading Group on the Greater Bay Area development chaired by the Vice Premier Han Zheng, a two-way wealth management connect scheme is being drawn up to meet the cross-boundary, wealth-management needs of residents in Hong Kong and the rest of the bay area.

Coupled with the Belt & Road Initiative, the bay area development will ensure long-term prospects for Hong Kong's economy. Through these two national policies, Hong Kong will enhance its role as the business bridge between the Mainland and the rest of the world. I'm talking here of our status as a leading fundraising centre, the world's largest offshore renminbi business hub and a premier asset and wealth management hub.

We are no less committed to Hong Kong's development as a green finance centre. In May 2019, we issued our inaugural green bond under the Government Green Bond Programme. And, with the introduction of a Green Bond Grant Scheme, which subsidises green bond issuers in obtaining certification under the Green Finance Certification Scheme, green bonds issued and arranged in Hong Kong in 2018 reached US$11 billion. A good start, I'd say, in creating financial programmes that also pay off in environmental benefits for our sustainable development.

We are hard at work as well on enabling development of our capital markets. Our open-ended fund company regime has been in operation since end-July 2018. And since last April, onshore and offshore privately offered funds can enjoy profits tax exemption under our tax law.

We're also building on our mutual recognition of funds arrangement. It now covers six economies: the Mainland, Switzerland, France, the United Kingdom, Luxembourg and the Netherlands. Such connections will strengthen our role as the world's premier offshore renminbi hub and wealth management centre.

Our connectivity with the Mainland is also enhanced through such financial schemes as Hong Kong-Shanghai Stock Connect, Hong Kong-Shenzhen Stock Connect and Bond Connect. Since its inception, in late 2014, stock connect has realised cumulative net transactions of about US$150 billion in the Mainland and over US$130 billion in Hong Kong.

We continue to diversify our fund structures. Among other things, we are working on a new regime of limited partnership for the registration of private equity funds. We are also enhancing Hong Kong's status as an international insurance and risk-management hub. And, to broaden the range of risk-management offerings in Hong Kong, we plan to enable the issuance of insurance-linked securities, including catastrophe bonds. Moreover, we will expand the scope of insurable risks by captive insurers in Hong Kong to meet the risk-management needs of multinationals.

To exemplify our commitment to technology, last year, we issued eight virtual banking licences, as well as two virtual insurer licences. These can spur financial innovation, while boosting customer experience and building financial inclusion. And our Faster Payment System, launched in 2018 to enable instant payment, now handles about 168,000 transactions, totalling more than US$307 million, a day.

Bridging East and West

We've been busy making the most of Hong Kong's manifold advantages. In creating connections between businesses, investors and financial markets, East and West, we help you excel. That is also the great strength of the Asian Financial Forum (AFF), bringing East and West together for two intensive days of the latest information and intelligence, deliberation and debate, networking opportunities and business promise.

This year's AFF is, as always, packed with panel discussions and workshops on financial policy, asset and wealth management, insurance, sustainable finance and deal-making sessions. As fintech continues to shake up the financial world, the AFF continues to expand its focus on fintech. This year, we launch the FintechHK Startup Salon, showcasing promising business ideas from fintech startups. It builds on the success of last year's Fintech Showcase, which returns with more than 60 fintech startups. And there's even more on offer this year in areas, ranging from global trade finance to environmental, social and governance, profit with purpose and succession planning for family corporations.

It gives me great pleasure, as well, to tell you that your keynote luncheon speakers today and tomorrow, respectively, are Dr Janet Yellen, formerly the Chair of the US Federal Reserve System's Board of Governors, and Prof Abhijit Banerjee, the 2019 Economics Nobel laureate. I am honoured that they come to Hong Kong and offer us their insight and their inspiration.

The forum is part of International Financial Week in Hong Kong, which brings together some 16 events covering everything from private equity and fund-raising to alternative investment and advertising strategies for financial concerns. A trip to Shenzhen is also featured this year, with visits to leading financial services and technology companies. Shenzhen, of course, is our close partner in the bay area and a global pacesetter in technology.

The Asian Financial Forum symbolises Hong Kong's wide-ranging strengths and resilience as an economy and a community. These strengths and resilience, just like our financial systems, have not been undermined despite that we have experienced considerable social unrest and challenges in recent months. Through the concerted efforts of the Government, and the people of Hong Kong, I am confident that we will bridge our divide, that we will realise the common goal of a reunited community and a flourishing economy.

Chief Executive Carrie Lam gave these remarks at the 13th Asian Financial Forum on January 13.

The challenges, for Hong Kong, are as much local as they are global. I know many of you are concerned about the recent social unrest here in Hong Kong, about whether it is affecting our financial market and whether there has been outflow of funds.

First of all, there's the obvious: Hong Kong is undergoing a time of unprecedented turbulence. Dissension has gripped our community for months now. That said, we are working to address and respond to those concerns, determined to find a path to peace, harmony and renewed prosperity in 2020.

We have been making progress. But there is still much to be done before we can put this testing time behind us.

Competitive advantages

What I can tell is that the advantages Hong Kong has long been recognised for are still very much with us, and they are not going anywhere anytime soon.

They begin with our enviable location, at the heart of Asia. Which means that Hong Kong is fully plugged into the round-the-clock global financial trading cycle. We provide certain and seamless connectivity with the financial hubs of Europe and North America, as well as those in the Middle East and across Asia.

Hong Kong is blessed with the dual advantages of "one country, two systems". The rule of law, an independent judiciary and an unshakable adherence to free enterprise are among Hong Kong's core values.

We offer businesses from the Mainland and all over the world - more than 9,000 at last count - a level-playing field, a competitive market, whatever their businesses, whatever their investments. Our linked exchange rate system remains solid, our currency fully convertible and capital flowing in and out freely, as enshrined in Article 112 of the Basic Law. Our capital markets are deep and liquid.

Despite our external and domestic challenges, Hong Kong's financial market remains stable. Our banking system continues to run smoothly and with ample liquidity.

The figures speak for themselves. In 2019, Hong Kong again topped the world in funds raised through IPOs - some US$40 billion worth. This is the seventh time we have come first in the past 11 years.

Our stock market's capitalisation is about US$4.9 trillion. That's more than 13 times Hong Kong's GDP.

As at end November 2019, bank deposits in both Hong Kong dollars and foreign currencies continued to increase over the same period last year, totalling US$1.8 trillion.

Our exchange rate remains stable. These and other measures reflect the integrity of Hong Kong's financial and legal system, the confidence it conveys, even as we face formidable external and domestic shocks.

In September last year, the Global Financial Centres Index once again ranked Hong Kong among the world's top three financial centres, behind only New York and bearing in on London.

Last October, the World Economic Forum's Global Competitiveness Report ranked our financial system top in the world, while the World Bank rated Hong Kong the third-easiest place to do business.

Hong Kong is still very much the largest offshore renminbi business hub in the world.

We are, as well, the premier asset and wealth management centre. Apart from exempting onshore and offshore funds from profits tax, we are considering introducing a more competitive tax arrangement to attract private equity funds to domicile in Hong Kong.  

The insurance industry is equally important. We have, after all, the highest concentration of insurers in Asia - more than 160 at the end of September. And we will enable the issuance of insurance-linked securities, expanding the insurable risks of captive insurers in Hong Kong.

On the taxes front, we already have the world's most business-friendly tax system, according to Paying Taxes 2020, a report produced by Pricewaterhouse Coopers and the World Bank. Still, we plan to provide tax relief to promote the development of marine insurance and the underwriting of specialty risks in Hong Kong.

Green finance is our policy priority going forward. Green bonds issued and arranged in Hong Kong increased over 200% to US$11 billion in 2018 as compared to the previous year.

That was followed by our inaugural government green bond issuance of US$1 billion last May. And we plan to issue more, and encourage more entities to arrange financing for their green projects right here in Hong Kong.

Fintech is another area where we strive to excel.

Looking at the big picture, the International Monetary Fund (IMF)'s latest projection of global economic growth this year has been adjusted downward to 3.4%. Growth in Asia, however, will continue to outperform the rest of the world.

The IMF forecasts the Mainland economy to grow by 5.8% in 2020, down slightly but still far and away leading most other jurisdictions.

Robust financial system

As for Hong Kong, the IMF Staff Report last month commended the resilience of our financial system and linked exchange rate, despite its slowing economy. The IMF's Hong Kong report noted, and I quote, that "robust policy frameworks and ample buffers will help the economy weather the challenges ahead".

The IMF also expressed approval for the Government's wide-ranging policies to support the economy and safeguard financial stability.

While we welcome the IMF's confidence in Hong Kong, I am prepared to roll out further relief measures as necessary.

We will also step up efforts to capitalise on emerging opportunities - not only from green finance and fintech but from the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt & Road Initiative, which demonstrates Hong Kong's uniqueness and irreplaceable position in the Mainland's national and economic development strategy.

Hong Kong is, and will remain, the business bridge between the Mainland and the rest of the world. Count on Hong Kong, as always, to be your partner, to help you build your business in the Mainland, throughout the Asian region and around the world. Count on Hong Kong to connect you with abundant capital and continuing opportunities.

Financial Secretary Paul Chan gave these remarks at the 13th Asian Financial Forum keynote luncheon on January 13.

To counter our adverse economic conditions, I have unveiled four sets of relief measures since last August. Totalling some $25 billion, the funds are focused on supporting businesses and lightening the burden weighing on the people of Hong Kong.

Meanwhile, we will continue to reach out to the community. Through wide-ranging dialogue communication and the pursuit of policies that address the deep-seated issues at the heart of our divide, I am hopeful that together we will find a path to peace and prosperity.

From an economic perspective, there is reason for optimism. I am heartened by the confidence private equity investors have shown in us. In the third quarter of 2019, some 560 private equity companies here managed US$153 billion.

We have nearly 50 more private equity (PE) firms based here when compared with the previous quarter. Among the world's top 10 PE fund managers, nine have a presence here in Hong Kong. That, ladies and gentlemen, underlines Hong Kong's formidable strengths in the Asian PE market. In that we trail only Mainland.

By channelling capital into corporations and startups in the innovation and technology field, PE and VC (venture capital) funds may well become as important as banks and IPO markets one day.

This Government is determined to help unlock the vast potential of the asset and wealth management business, because we believe you are critical to ensuring Hong Kong's status as one of the world's leading financial centres.

Fund-service centre 

That is why we have been stepping up efforts to sharpen Hong Kong's competitive edge on asset and wealth management through a multi-pronged approach including: (a) diversifying our fund structures and streamlining the licensing process to encourage fund formation; (b) adopting a more user-friendly approach to attract family offices; (c) providing a more facilitative tax environment for funds; and (d) expanding our fund distribution network through deepening our mutual access arrangements with other major financial markets.

On fund structure, the long-awaited, limited-partnership fund regime is close to reality, thanks in part to your favourable feedback. Indeed, we are now developing the necessary legislation. Because of the current filibustering at the Legislative Council, the tabling of the legislation got a little delayed, but it remains our top policy priority for the rest of this year to put this forward.

We are confident that the new regime will attract PE and VC funds, and we count on your support for that. With the new regime in place, we aim to bring in as many offshore funds as possible onshore to Hong Kong. We are well positioned to capture the opportunity arising from what happened on the international front over tax base erosion. This is mutually beneficial to Hong Kong as a fund hub and also the PE industry at large as you search for a new home for the funds you manage.

PE and VC funds, whether onshore or offshore, have enjoyed a profits tax exemption since last April. A tax-exempt fund can invest in local and overseas private companies. Hong Kong, by now, has a tax regime at fund level that is competitive and caters to the needs of the PE industry. I fully understand that resolving the tax issues at fund level is not enough in itself. It is of even greater importance to tackle head-on the tax arrangement for investment managers. This is a hard nut to crack, but one that I am determined to look into and come up with solutions that will strengthen Hong Kong's position as a leading fund hub with one of the most competitive tax arrangements for investment managers in the PE industry.

The significance of the limited partnership fund regime in completing Hong Kong's fund manufacturing infrastructure is underpinned by its precursor - the open-ended fund company regime. Since its operation in July 2018, a number of open-ended fund companies have sprouted. The SFC (Securities & Futures Commission) is also looking into how to make the regime more business-friendly to facilitate the take-up.

In short, the Government and our regulators are committed to developing Hong Kong into a full-fledged fund-service centre.

We are equally intent on expanding our fund-distribution network. We continue to expand our Mutual Recognition of Funds arrangements. Last year, Luxembourg and the Netherlands joined existing partners, the Mainland, Switzerland, France and the United Kingdom. More international partnerships will follow.

Family offices
Hong Kong is also an ideal location for the establishment of family offices, and we are boosting our promotional efforts in this regard.

The Hong Kong Monetary Authority and InvestHK will provide comprehensive services to attract family offices to Hong Kong. The SFC has also recently issued licensing guidance for PE firms and family offices. This will enhance clarity and would help address the industry's concerns.

Without a steady flow of talented professionals, of course, we will not be able to cash in on all the opportunities there for us. That is why the Government's Pilot Programme to Enhance Talent Training for the Asset & Wealth Management Sector has been supporting the industry since 2016.

I encourage you to offer exposure, opportunity and jobs for our youth. To give them a stake in the society through the programme.

Business bridge 

Zooming out a bit, the Government will continue to boost Hong Kong's singular advantage as the business and financial bridge between international markets and investors and their counterparts on the Mainland.

To that end, we continue to emphasise the established channels - our Stock Connects, Bond Connect and the Mutual Recognition of Funds arrangements. We will also strengthen our position as the global offshore Renminbi business hub.

Then there is the Guangdong-Hong Kong-Macao Greater Bay Area Development, and the extraordinary opportunity that it presents to Hong Kong.

With a GDP in excess of US$1.6 trillion and more than 70 million prosperous consumers, the Greater Bay Area presents vast potential for the asset and wealth management sector. For each and every one of you. The establishment of a Greater Bay Area wealth-management connect scheme, which was, as you know, recently announced, will go a long way towards realising that promise.

Our regulators are working out the details with their counterparts on the Mainland, and we will keep you posted and we are determined to push that forward as soon as possible. 

Financial Secretary Paul Chan gave these remarks at the Asia Private Equity Forum 2020 on January 15.

On April 4, 1990, the Basic Law of the Hong Kong Special Administrative Region of the People’s Republic of China was adopted by the Seventh National People’s Congress (NPC) of the People’s Republic of China (PRC). The Basic Law enshrines the basic policies of the PRC regarding the Hong Kong Special Administrative Region (HKSAR) and provides a solid constitutional basis for the implementation of “one country, two systems”. Looking back, we must not forget the purpose and mission of the Basic Law.

The Basic Law clearly states that Hong Kong has been part of the territory of China since ancient times and is an inalienable part of the PRC. It is a Special Administrative Region enjoying a high degree of autonomy under the Central People’s Government. Upholding national unity and territorial integrity, maintaining the prosperity and stability of Hong Kong, and taking account of history and realities, the “one country, two systems” principle was put forth by Mr Deng Xiaoping as a way to preserve the characteristics and strengths of Hong Kong as much as possible and to enable Hong Kong citizens to maintain their way of life.

In the 22 years since her return to the motherland, Hong Kong has weathered different challenges and, on the whole, the implementation of “one country, two systems” has been successful. Leveraging on our strengths in free market economy, rule of law, independent judiciary and the free flow of information and with our country’s strong support, Hong Kong has developed into an international financial, trade and transportation centre and attracted more than 9,000 overseas and Mainland companies to establish offices here, with many of them making Hong Kong as their regional headquarters in Asia-Pacific.

International financial centre

Article 109 of the Basic Law confirms Hong Kong’s status as an international financial centre and stipulates that the Government of the Hong Kong Special Administrative Region shall provide an appropriate economic and legal environment for the maintenance of such status. Specifically, under the Basic Law:

- The Hong Kong dollar is the legal tender of the HKSAR and the linked exchange rate system has been maintained. With the strong support of the Central Government, Hong Kong has been able to maintain financial stability even during turbulent times. Riding on our country’s reform and opening up, Hong Kong has also developed into the world’s largest offshore renminbi centre.

 - The free flow of capital is protected and has attracted a large number of foreign direct investment and companies using Hong Kong as an ideal platform for initial public offerings and fundraising. Over the past 10 years, Hong Kong has topped the annual global IPO rankings six times.

- Hong Kong maintains a simple and low tax system, which is key to Hong Kong’s success as an international financial, trading and business centre. The Hong Kong Special Administrative Region Government is free to implement tax measures according to policy needs under its independent tax system. Since I took office, I have put in place initiatives such as the two-tier profits tax system and tax deduction for research and development expenditure to enhance Hong Kong’s competitiveness.

Rule of law and independent judiciary

The Basic Law preserves and guarantees Hong Kong’s long-established and trusted common law system and allows the HKSAR to enjoy independent judicial power, including that of final adjudication. The rule of law and an independent judiciary, which are held dearly by Hong Kong people, are constitutionally protected. The Basic Law stipulates that judges shall be appointed by the Chief Executive on the recommendation of an independent commission; for the appointment of judges of the Court of Final Appeal (CFA) and the Chief Judge of the High Court, the Chief Executive shall obtain the endorsement of the Legislative Council and report such appointment to the Standing Committee of the NPC for the record. Last month, I accepted the recommendation of the Judicial Officers Recommendation Commission to appoint the Honourable Justice Andrew Cheung, Permanent Judge of the CFA, to succeed The Honourable Chief Justice Geoffrey Ma who will retire next year.

The Basic Law also allows the CFA to draw on the experience of judges from other common law jurisdictions. Currently, 15 eminent judges from the United Kingdom, Australia and Canada are sitting on the CFA as non-permanent judges. Their participation shows that our rule of law and independent judiciary are well recognised.

Rights and freedoms of residents

The fundamental rights and freedoms of Hong Kong residents are fully protected by the Basic Law. Under Chapter 3, Hong Kong residents shall have freedom of speech, of the press and of publication; freedom of association, of assembly, of procession and of demonstration; freedom of the person; freedom of communication; freedom of religious belief; freedom of choice of occupation; freedom to engage in academic research, literary and artistic creation, and other cultural activities; freedom of marriage and so forth. However, as pointed out by our courts in their judgments, freedom is not absolute; one should respect the rights and freedoms of other people and be subject to law when exercising such freedoms.

Developing external affairs

Hong Kong has always been a bridge between the East and the West. The Basic Law allows the HKSAR to maintain and develop relations with foreign states and regions and relevant international organisations in the appropriate fields, including economic, trade, financial and monetary, shipping, communications, tourism, cultural and sports fields on its own, using the name Hong Kong, China. The HKSAR has participated in the World Trade Organization, the World Meteorological Organization, the Asia-Pacific Economic Cooperation and many others in the name Hong Kong, China and has entered into hundreds of bilateral agreements with other countries, including Free Trade Agreements, Investment Promotion & Protection Agreements and Comprehensive Double Taxation Agreements. Hong Kong athletes can also represent Hong Kong in international competitions.

The implementation of “one country, two systems” fully demonstrates that it is the best institutional arrangement to maintain Hong Kong’s long-term prosperity and stability. As a pioneering initiative, its application entails an evolving process and we have to effectively and fully apply this principle in order to maintain the prosperity and stability of Hong Kong, to meet the aspirations of our citizens and to meet the fundamental interests of our country. I encourage all Hong Kong citizens to learn more about the Basic Law, including the institutional safeguards, and the rights and duties of Hong Kong residents. In so doing, we should consider how best we can continue to leverage on Hong Kong’s advantages, allowing Hong Kong to advance with the country and enabling every Hong Kong resident to realise their goal.

Chief Executive Carrie Lam wrote this op-ed entitled The Basic Law - Best Safeguard for the Prosperity & Stability of Hong Kong on April 4.

The banking sector today launched a scheme to alleviate the cashflow pressure faced by corporate customers in light of the economic challenges brought about by the COVID-19 outbreak.

Jointly announced by the Monetary Authority and the Banking Sector SME Lending Coordination Mechanism, the Pre-approved Principal Payment Holiday Scheme is estimated to cover more than 80% of all corporate borrowers in Hong Kong.

All corporate customers that have an annual sales turnover of $800 million or less and with no outstanding loan payments overdue for more than 30 days are eligible for the scheme.

Eligible customers’ loan principal payments due within a six-month period between May 1 and October 31 this year will be pre-approved for deferment.

The loans’ principal payments, including revolving facilities, will generally be deferred by six months, whereas trade facilities, given their short-term nature, will be deferred by three months.

The scheme does not cover syndicated loans or loans used for financing purchases of shares or other financial assets.

Banks will begin informing eligible customers of the pre-approval under the scheme as soon as practicable. Eligible customers do not need to apply. They only need to contact the bank within 14 days of the bank’s notice to confirm the detailed arrangements.

The authority has issued a circular requesting all banks to participate in the scheme and has received support from all 11 major lenders in the co-ordination mechanism.

It will monitor the scheme’s operation and maintain close dialogue with banks.

During the third month of our fight against COVID-19, Hong Kong has experienced daunting challenges posed by the epidemic with no room to let down our guard.  Though we are a bit relieved to see a significant drop in the number of confirmed cases recently, the Government needs to remain alert given the volatility of the epidemic.

Developments of the epidemic

In the past month, the epidemic continued to spread rapidly in many countries around the world. The number of confirmed cases increased from 400,000 a month ago to 2.6 million today, an increase of some 600%, with over 180,000 deaths.  Many governments had little choice but to take extreme measures such as a city lockdown. During the same period, the overseas epidemic situation resulted in a large number of Hong Kong residents abroad, including students studying in the United States and Europe, particularly in the United Kingdom, to return to Hong Kong. Due to the large number of imported cases, Hong Kong’s epidemic situation, which had remained stable for a period up to mid-March, started to become severe and reached its peak at the end of March. On March 27, 28 and 29, Hong Kong recorded 65, 64 and 59 confirmed cases respectively on a single day. We were then extremely worried because if 60 new cases have to be admitted to hospital and placed in isolation each day (according to Hospital Authority statistics every confirmed case stays in hospital for 15 to 20 days on average) and if this number of new confirmed cases continued for one month then the Hospital Authority’s 1,200 or so isolation beds would be fully occupied and our hospital system would face unimaginable pressure.

Although deeply anxious, we did not lose our composure but continued to respond promptly to the developments of the epidemic taking account of expert advice. We bit the bullet and resolutely took stringent measures in response to the situation. The number of confirmed cases has dropped from the peak at end-March to single digits since April 12, with the great majority of cases being imported or their close contacts (See Graphic 1). This shows we have prevented local transmission and that Hong Kong, once again, has overcome the challenge.

Anti-epidemic efforts

Since the Government implemented stringent border control measures before end-March, including denying the entry to Hong Kong by plane of all non-Hong Kong residents arriving from overseas countries or regions from March 25, the anti-epidemic measures introduced over the past month focused on enhancing virus testing for inbound travellers and restricting social interactions to prevent the spread of the disease. However, we have not prohibited people from going out as many overseas countries have done. Most restaurants and shops have remained open.  People by and large can maintain their daily life.

Major measures implemented by the Government to respond to the developments of the epidemic in the past month are set out in the following table:  

Date

Event

March 25-26

Four chartered flights were sent over two days to bring back to Hong Kong the second batch of 558 Hong Kong residents stranded in Hubei Province.

March 25-26

The Centre for Health Protection (CHP) extended the Enhanced Laboratory Surveillance Programme and set up a temporary specimen collection centre at AsiaWorld-Expo to provide virus testing for asymptomatic inbound travellers arriving from the UK and other countries in Europe as well as the US.

March 27

The Government announced that catering premises must comply with six disease control requirements and six types of premises (ie amusement game centres, bathhouses, fitness centres, places of amusement, places of public entertainment and premises for hire for holding social gatherings) must close from 6pm on March 28; and gatherings of more than four people in a public place would be prohibited from midnight on March 29.  At the same time, the Chief Executive announced the preparation of the second round of the Anti-epidemic Fund to provide further assistance to individuals and businesses.

April 1-2

The Government announced that karaoke establishments, mahjong-tin kau establishments and nightclubs must be closed and beauty parlours, clubhouses and massage establishments must step up epidemic control measures from 6pm on April 1; and bars must close from 6pm on April 3.

April 5

Sixty-five Hong Kong residents who took the chartered flights arranged by the Hong Kong Special Administrative Region Government arrived in Hong Kong from Peru. Upon arrival, they were taken to the temporary specimen collection centre at AsiaWorld-Expo to undergo virus testing and were admitted to hospital or put under home quarantine subject to the test results.

April 8

The Government announced the closure of beauty parlours and massage establishments from midnight on April 10, and the extension of measures regulating catering businesses and scheduled premises as well as prohibiting group gatherings until April 23.

April 8

The Chief Executive announced the second round of the Anti-epidemic Fund and other related measures involving over $130 billion, including an $80 billion Employment Support Scheme. The Legislative Council Finance Committee approved the funding on April 18.

April 8

The Department of Health (DH) mandated all asymptomatic inbound travellers arriving at the Hong Kong International Airport to proceed to the temporary specimen collection centre to collect deep throat saliva samples according to instructions before undergoing compulsory quarantine at their place of accommodation. Besides, specimen collection containers will be provided to inbound travellers arriving via land boundary control points who have been to Hubei Province in the past 14 days.

April 9

The DH required all asymptomatic inbound travellers arriving on flights from the UK to stay and wait for the test results at the temporary specimen collection centre, and they can continue their quarantine at their place of accommodation only if the test result is negative. The arrangement was extended to asymptomatic inbound travellers arriving on flights from the US and other areas in Europe from April 13.

April 10

Twenty-seven Hong Kong residents who left Morocco on a chartered flight arranged by the Chinese Embassy in the Kingdom of Morocco arrived in Guangzhou. Apart from one Hong Kong resident who chose to stay in Guangzhou, all others returned to Hong Kong by prearranged coaches and were taken to AsiaWorld-Expo to undergo virus testing.

April 11

To ensure adequate quarantine facilities to cope with the development of the epidemic, the CHP will, where necessary, arrange for people under compulsory quarantine to stay at quarantine centres for the first 10 days and then continue quarantine at home for the remaining four days after virus testing.

April 19

The DH required all asymptomatic inbound travellers arriving on flights landing in the morning to stay and wait for the test results at the temporary specimen collection centre. They can continue quarantine at their place of accommodation only if the test result is negative.

April 19

With a declining number of inbound travellers, the Hospital Authority suspended the operation of the test centre at AsiaWorld-Expo from noon. Inbound travellers with symptoms will be admitted to public hospitals to undergo testing.

April 20

The DH started a trial to provide an extra specimen collection container to inbound travellers arriving at the Hong Kong International Airport for the submission of samples for another round of virus testing (on the 12th day) before the completion of home quarantine. The quarantine can be completed only if the test result is negative.

April 21

The Government announced the extension of all statutory measures to enhance social distancing for 14 days until May 7.

April 22

The DH required all asymptomatic inbound travellers arriving on flights landing in the afternoon or at night to stay and wait for virus test results at the holding centre in the Regal Oriental Hotel. They can continue quarantine at their place of accommodation only if the test result is negative. Upon implementation of the measure, all inbound travellers arriving at Hong Kong International Airport will be required to undergo testing and can return to the community only if the test result is negative.

The decision to extend various enhanced social distancing measures to early May is no doubt a further blow to the affected business sectors. The Government fully understands the disappointment and frustration of these sectors, but we dare not let down our guard as we look at the second or third wave of outbreaks around the world. In addressing the public health crisis, the Government also needs to consider the impact of the measures on the economy, livelihood and the daily lives of people.  I recall that Prof Gabriel Leung, one of the experts for the Government’s anti-epidemic work, once described the difficulty of the Government in making its decisions as a three-way tug of war (See Graphic 2).

We will continue to listen to the views of the experts and various sectors and constantly adjust the suppress and lift strategy according to the actual situation of the epidemic. The target is to achieve the optimal level of controls at all times.

Supporting individuals and businesses affected by the disease

The epidemic has lasted for more than three months and presents unprecedented challenges to our economy. Many businesses are facing pressure to close down or resort to massive staff layoffs, and many families and members of the public are facing severe hardship. According to the latest labour force statistics released by the Census & Statistics Department, the seasonally adjusted unemployment rate for January to March 2020 increased worryingly to 4.2%, the highest level in over nine years.

The Government will continue to make an all-out effort to keep our workers employed, relieve the financial burden of businesses and members of the public, and pave the way for post-epidemic economic recovery. The two rounds of the Anti-epidemic Fund and related relief measures, together with the relief package in the 2020-21 Budget announced by the Financial Secretary earlier on (yet to be approved by the LegCo), amount to $287.5 billion, representing 10% of gross domestic product. These measures are being implemented progressively to help businesses and members of the public tide over the difficult times.

Fighting the virus together

The hard-earned results of our anti-epidemic work over the past month are due to the togetherness of the community at large, the unswerving commitment of our healthcare professionals, the collaborative efforts of various government departments and the understanding of all sectors in society. I am confident that Hong Kong will come through the epidemic and the economic downturn. As long as we can hold on for some more time, we will soon see a bright tomorrow.

Chief Executive Carrie Lam issued this article entitled Three Months into Our Fight Seeing the Arrival of Dawn on April 25.

Ensemble SU from Korea will stage a concert at Sha Tin Town Hall in December.

The quintet breaks boundaries by merging both traditional Korean musical instruments with Western instruments to bring music to life.

The world touring group plays works ranging from Arirang Rhapsody to Bohemian Rhapsody and from Bul-no-ha to the jazz classic Take Five.

The concert will be held at 8pm on December 6 and tickets are available at URBTIX.

Click here for details.

The Leisure & Cultural Services Department’s Community Oral History Theatre Project will be launched in Kowloon City District on January 15.

An oral history theatre performance and a sharing session will kick off the project.

The performance will feature an excerpt from the production of Sai Kung, Therefore I Live.

It will be held at Hung Hom Community Hall.

Admission is free with tickets.

Click here for details.

About 200 archaeological Song-Yuan period finds unearthed at Kai Tak will go on display in an exhibition at the Heritage Discovery Centre from tomorrow until February 26.

Following the closure of Kai Tak Airport in 1998, the planning work for the Kai Tak Development Area created opportunities for archaeological studies around the former Sacred Hill in Kowloon Bay.

An abundance of Song-Yuan period cultural remains were subsequently unearthed, including a huge amount of ceramics produced by various kilns in Zhejiang, Fujian and Jiangxi.

Similar products from the same period were exported widely and could be found in shipwrecks along the maritime ceramics route.

Highlights of the Treasures from the Sacred Hill: Song-Yuan Period Archaeological Discoveries from Kai Tak exhibition include green glazed incense burners with an eight trigrams pattern and a green glazed dish with a moulded double fish pattern produced by Longquan Kiln.

Other highlights include a brown glazed dragon jar with lugs and a green glazed basin with a phoenix pattern produced by Cizao Kiln and a Daguan Tongbao bronze coin.

Ceramics from the same period on loan from the Art Museum of the Chinese University of Hong Kong will also be displayed.

Curated by the Antiquities & Monuments Office, admission to the exhibition is free.

Call 2208 4400 for details.

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