安杰世泽香港资本市场及金融监管动态
（2024年3月刊）
(Mar. 2024）
01 香港联交所执法动态
Enforcement updates of the HKEX
香港联交所与香港证监会就GEM上市公司两名前任董事的不当行为联手合作（2024年3月5日）
HKEX AND SFC COLLABORATE IN ENFORCEMENT ACTION AGAINST TWO FORMER GEM-LISTED COMPANY DIRECTORS FOR MISCONDUCT (March 5, 2024)
违规事项
GEM上市委员会裁定XX先生及XX女士严重违反他们对该公司的诚信责任、《GEM上市规则》第 5.01和17.55B 条及董事承诺：
（1）XX先生及XX 女士将该公司的资金辗转转入自己的账户，再作私人用途，等同挪用该公司的资产。他们的不诚实行为损害了该公司的利益，误导了该公司的投资者及公众。
（2）董事挪用公司资产属严重违反诚信责任。XX先生及XX 女士并非出于善意或适当目的而转拨该公司的首次公开招股所得款项。他们显然涉及利益冲突并滥用其董事职权。
（3）在联交所、证监会、Anglo Chinese、独立非执行董事及 Lego 就付款及转移款项指控作出查询时，XX先生及 XX女士不但未有配合，更有意回避并拒绝提供证据，例如银行账户详情及银行结单。他们刻意阻挠调查，还提供虚假及／或误导性的资料，企图掩饰自己的不当行为。他们亦未能促使该公司遵守须向联交所提供准确完备资料的责任。
监管要点
联交所要求董事须共同及个别地履行诚信责任及以应有技能、谨慎和勤勉行董事的责任，而履行上述责任时，至少须符合香港法例所确立的标准。有关责任包括诚实及善意地以公司的整体利益为前提行事；为适当目的行事；就发行人资产的运用或误用而向发行人负责；避免实际及潜在的利益和职务冲突；及以应有的技能、谨慎和勤勉行事，程度相当于别人合理地预期一名具备相同知识及经验、并担任发行人董事职务的人士所应有的程度。
Breach
The GEM Listing Committee found that Mr XX and Ms XX committed serious breaches of their fiduciary duties to the Company, GLR 5.01, GLR 17.55B and their Director's Undertakings:
(1) Mr XX and Ms XX channelled to themselves the Company's funds and then used the funds for their own purposes. By their actions, Mr XX and Ms XX misappropriated the Company's assets. They acted dishonestly against the interests of the Company. They have misled the Company's investors and the public.
(2) The misappropriation of corporate assets by directors is a flagrant breach of their fiduciary duties. The re-routing of the Company's IPO proceeds to Mr XX and Ms XX was neither in good faith nor for a proper purpose. Mr Goh and Ms Chia were clearly in a position of conflict and abused their position as directors.
(3) When the Exchange, the SFC, Anglo Chinese, the INEDs and Lego made enquiries about the payment and the Re-Routing Allegation, Mr XX and Ms XX failed to cooperate. Moreover, they were deliberately evasive, and refused to provide evidence such as details of their bank accounts and their bank statements. They adopted an obstructive approach and provided false and/or misleading information in order to avoid detection of their misconduct. They also failed to procure the Company's compliance with its obligation to provide accurate and complete information to the Exchange.
Key Points of Supervision
The Exchange expects directors, both collectively and individually, to fulfil fiduciary duties and duties of skill, care and diligence to a standard at least commensurate with the standard established by Hong Kong law. These duties include a duty to act honestly and in good faith in the interests of the company as a whole; act for proper purpose; be answerable to the issuer for the application or misapplication of its assets; avoid actual and potential conflicts of interest and duty; and apply such degree of skill, care and diligence as may reasonably be expected of a person of his/her knowledge and experience and holding his/her office within the issuer.
详见：
https://www.hkex.com.hk/news/regulatory-announcements/2024/240305news?sc_lang=en
02 香港证监会执法动态
Enforcement updates of the SFC
证监会首次取得法院就透过非法卖空进行证券欺诈的刑事定罪裁決
SFC secures first criminal conviction of securities fraud via illegal short selling
违规事项
证监会指出，在2018年4月至5月期间，赖XX无合理辩解而在未领有证监会牌照的情况下，于香港向某人显示自己经营证券交易的业务。
监管重点
根据《证券及期货条例》附表5，“证券交易”是一类受规管活动。根据《证券及期货条例》第114(1)(b)及114(8)条，任何人无合理辩解而在未领有证监会牌照的情况下，显示自己经营某类受规管活动的业务 ，即属犯罪。
Breach
The SFC alleged that between April and May 2018, XX held herself out to an individual as carrying on a business in dealing in securities in Hong Kong without an SFC licence and reasonable excuse.
Key Points of Supervision
Under Schedule 5 of the SFO, “dealing in securities” is a type of regulated activity. Under sections 114(1)(b) and 114(8) of the SFO, it is an offence for a person, without reasonable excuse, to hold himself out as carrying on a business in a regulated activity without a licence from the SFC.
详见：
https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/enforcement-news/doc?refNo=24PR46
香港东区裁判法院裁定个人投资者因透过非法卖空进行证券欺诈被判监（2024年3月20日）
Retail trader jailed for securities fraud via illegal short selling (March 20, 2024)
违规事项
根据《证券及期货条例》第300条，杨XX在涉及证券的交易中意图欺诈并使用欺诈计划。
监管重点
这是首次有人在非法卖空的个案中，因在涉及证券的交易中意图欺诈而使用具欺诈或欺骗性质的计划，就《证券及期货条例》第300条下的罪名而被定罪。
除非任何人具有一项即时可行使而不附有条件的权利，以将证券转归于其购买人名下，或除非他相信并有合理理由相信他具有此项权利，否则若他在认可证券市场或透过认可证券市场售卖该等证券，即属犯罪。
在涉及证券的交易中从事任何具欺诈或欺骗性质的作为、做法或业务，即属犯罪。
Breach
Yeung was convicted for the offence of employing a fraudulent or deceptive scheme with intent to defraud in transactions involving securities under section 300 of the Securities and Futures Ordinance.
Key Points of Supervision
This is the first case where an individual was convicted for the offence of employing a fraudulent or deceptive scheme with intent to defraud in transactions involving securities under section 300 of the Securities and Futures Ordinance in the context of illegal short selling.
It is an offence to sell securities at or through a recognised stock market unless he has a presently exercisable and unconditional right to vest the securities in the purchaser of them, or unless he believes and has reasonable grounds to believe that he has such a right.
It is an offence to engage in any act, practice or course of business which is fraudulent or deceptive in a transaction involving securities.
详见：https://sc.sfc.hk/TuniS/apps.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/enforcement-news/doc?refNo=24PR52
03香港联交所其他动态
Other updates of HKEX
Part1
市场通讯 Market Communications
新浪微博结构性产品、期货及期权调整（2024年3月18日）
ADJUSTMENT OF WEIBO STRUCTURED PRODUCTS, FUTURES AND OPTIONS (March 18, 2024)
以微博股份作为相关资产的结构性产品
Structured products with shares of Weibo as underlying asset
微博期货及期权
Adjustments of Weibo Futures and Options
详见：https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/news/market-communications/2024/2403182news?sc_lang=zh-cn
Part 2
监管通讯 Regulatory Announcements
上市提名委员会提醒申请成为上市委员会及上市覆核委员会成员的期限将届（2024年3月11日）
REMINDER OF DEADLINE FOR APPLICATIONS TO THE LISTING COMMITTEE AND LISTING REVIEW COMMITTEE (March 11, 2024)
香港联交所旗下上市提名委员会，提醒有意申请成为上市委员会1或上市覆核委员会成员的人士，呈交申请的截止日期为 2024年4月8日。详情可参阅香港交易所于2024年1月4日刊发有关提名委员会物色上市委员会和上市覆核委员会成员人选的新闻稿。
The Listing Nominating Committee of The Stock Exchange of Hong Kong Limited (the Exchange), a wholly owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), reminds potential applicants that the deadline for submitting applications for nomination to the Listing Committee1 or the Listing Review Committee is 8 April 2024. For more details, please refer to the news releases published on 4 January 2024 inviting applications for nomination to the Listing Committee and the Listing Review Committee on the HKEX website.
详见：https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/news/regulatory-announcements/2024/240311news?sc_lang=zh-cn
通告 – 关于新华联资本有限公司（于百慕达注册成立之有限公司）（股份代号：758）取消上市地位（2024年3月15日）
ANNOUNCEMENT – IN RELATION TO THE MATTER OF MACROLINK CAPITAL HOLDINGS LIMITED (INCORPORATED IN BERMUDA WITH LIMITED LIABILITY) (STOCK CODE: 758) CANCELLATION OF LISTING (March 15, 2024)
联交所宣布，由2024年3月19日上午9时起，新华联资本有限公司（该公司）的上市地位将根据《上市规则》第6.01A(1)条予以取消。
该公司的股份自2022年2月15日起已暂停买卖。根据《上市规则》第6.01A(1)条，若该公司未能于2023年8月14日或之前复牌，联交所可将该公司除牌。
The Exchange announces that the listing of the Company's shares will be cancelled with effect from 9:00 am on 19 March 2024 under Rule 6.01A(1).
Trading in the Company's shares has been suspended since 15 February 2022. Under Rule 6.01A(1), the Exchange may delist the Company if trading does not resume by 14 August 2023.
详见：https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/news/regulatory-announcements/2024/240315news?sc_lang=zh-cn
香港联交所刊发2023年上市委员会报告（2024年3月18日）
EXCHANGE PUBLISHES LISTING COMMITTEE REPORT 2023 (March 18, 2024)
香港联交所3月18日刊发《2023年上市委员会报告》，回顾上市委员会2023年的工作并展望2024年及以后的政策方向。
上市委员会于2023年审理了73份上市申请，并对8宗覆核及28宗纪律个案进行聆讯。联交所推出了全新的特专科技公司上市机制，并于2024年1月1日实施GEM上市改革，为中小企提供高效且有利的上市环境。
The Exchange published its Listing Committee Report for 2023 on March 18, which includes a review of the committee's work during the year and an overview of its policy agenda for 2024 and beyond.
In 2023, the Listing Committee considered 73 listing applications, in addition to hearing eight review and 28 disciplinary cases. The Exchange launched a new listing route for specialist technology companies and, on 1 January 2024, implemented GEM listing reforms to provide an efficient and supportive listing environment for small and medium-sized enterprises.
详见：https://sc.hkex.com.hk/TuniS/www.hkex.com.hk/news/regulatory-announcements/2024/240318news?sc_lang=zh-cn
Part 3
参与者及会员通告
Participant and Members Circulars
香港证券市场自行成交防范服务的推出（2024年3月19日）
Launch of Self-Match Prevention Service in Hong Kong Securities Market (March 19, 2024)
在香港证券市场成功完成有关自行成交防范（SMP）服务的实习环节（编号：CT/019/24 及 CT/025/24）及获得监管机构批准后，香港联交所宣布，SMP 服务将于2024年4月2日（星期二）起接受交易所参与者的申请。
Following the successful completion of the practice sessions (Ref. No.: CT/019/24 and CT/025/24) and the regulatory approval, the Exchange is pleased to announce that Self-Match Prevention (SMP) service in Hong Kong Securities Market will be open for applications by Exchange Participants (EPs) from 2 April 2024 (Tuesday).
详见：
https://www.hkex.com.hk/-/media/HKEX-Market/Services/Circulars-and-Notices/Participant-and-Members-Circulars/SEHK/2024/CT02824C.pdf
有关结算会员款项责任的提示（只提供英文版）（2024年3月13日）
Reminder on Payment Obligations of Clearing Members (March 13, 2024)
香港场外结算有限公司（场外结算）认为应提醒会员，应妥善进行风险管理和稳健的融资安排，以充分监察其风险敞口，并按时履行场外结算付款义务，以确保场外结算市场的平稳运作。
OTC Clearing Hong Kong Limited (OTC Clear) considers it appropriate to remind members of the importance of having proper risk management and robust funding arrangements in place to adequately monitor their exposure and fulfill their OTC Clear payment obligations on time to ensure the smooth operation of the OTC market.
详见：
https://www.hkex.com.hk/-/media/HKEX-Market/Services/Circulars-and-Notices/Participant-and-Members-Circulars/OTC-Clear/2024/Circular_OTCRM_Mar-2024_010.pdf
香港证券市场引入自行成交防范服务的额外实习环节（2024年3月11日）
Additional Practice Session for the Introduction of Self-Match Prevention Service in Hong Kong Securities Market (March 11, 2024)
参考交易所通告（编号：CT/019/24），大部分有意使用自行成交防范（SMP）服务的交易所参与者已于 2024 年3月9日（星期六）成功完成实习环节。为确保 SMP 服务的顺利推出，交易所将于2024年3月16日（星期六）安排额外实习环节 (PS2)，以便交易所参与者进一步验证其为推出SMP 服务已准备就绪。交易所参与者可自行选择是否参与，有意参与 PS2 的交易所参与者必须于2024年3月13日（星期三）或之前完成登记表格（仅供英文版）并提交给交易所。
With reference to the Exchange circular (Ref. No.: CT/019/24), the majority of Exchange Participants (EPs) who are interested in the Self-Match Prevention (SMP) service have successfully completed the Practice Session on 9 March 2024 (Saturday). In order to ensure a smooth launch of the SMP service, an additional Practice Session (PS2) will be held on 16 March 2024 (Saturday) for EPs to further verify their readiness. Participation is optional and EPs who wish to participate in the PS2 are required to complete the Registration Form and return to the Exchange on or before 13 March 2024 (Wednesday).
详见：
https://www.hkex.com.hk/-/media/HKEX-Market/Services/Circulars-and-Notices/Participant-and-Members-Circulars/SEHK/2024/CT02524C.pdf
04 3月份IPO快讯
February IPO News
已上市
处理中
备注:
具不同投票权架构的发行人，其名称结尾有“W”字以作标识。
根据主板上市规则第十八A章上市的生物科技公司，其名称结尾有“B”字以作标识。
根据主板上市规则第十八B章上市的特殊目的收购公司，其名称结尾有“Z”字以作标识。
根据主板上市规则第十八C章上市的未商业化公司，其名称结尾有“P”字以作标识。
在港作第二上市的公司，其名称结尾有“S”字以作标识。
05 香港金管局监管动态
Enforcement updates of the HKMA
香港金管局推出9项措施支持中小企
HKMA introduces 9 measures to support SMEs
香港金管局3月28日联同银行业中小企贷款协调机制宣布推出一系列措施，支持中小企获取银行融资，并协助它们持续发展。
The HKMA, together with the Banking Sector SME Lending Coordination Mechanism, announced on 28 March a series of measures to assist small and medium-sized enterprises (SMEs) in obtaining financing from banks and to support their continuous development.
详见： https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2024/03/20240328-7/
2024年2月份货币统计数字
Monetary Statistics for February 2024
香港金管局3月28日发表的统计数字显示，认可机构的存款总额在2024年2月份上升0.2%，其中港元存款下跌0.2%，外币存款则上升0.6%。2024年首两个月，存款总额及港元存款分别下降0.4%及0.5%。香港人民币存款在2月份上升1.0%，于2月底为9,642亿元人民币。跨境贸易结算的人民币汇款总额于2月份为10,644亿元人民币，而1月份为14,009亿元人民币。存款变动受多项因素影响，包括利率走势、市场集资活动等，因此适宜观察较长期趋势，毋须过度解读个别月份的波动。
According to statistics published today (28 March) by the HKMA, total deposits with authorized institutions increased by 0.2% in February 2024. Among the total, Hong Kong dollar deposits decreased by 0.2% while foreign currency deposits increased by 0.6% in February. In the first two months of 2024, total deposits and Hong Kong dollar deposits decreased by 0.4% and 0.5% respectively. Renminbi deposits in Hong Kong increased by 1.0% in February to RMB964.2 billion at the end of February. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,064.4 billion in February, compared with RMB1,400.9 billion in January. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2024/03/20240328-6/
2024年2月住宅按揭统计调查结果
Residential Mortgage Survey Results for February
香港金管局公布2024年2月份的住宅按揭统计调查结果。
2月份新申请贷款个案较1月份按月减少22.3%，至5,070宗。
2月份新批出的按揭贷款额较1月份减少15%，至179亿港元。
2月份新取用按揭贷款额较1月份减少29%，至114亿港元。
2月份未偿还按揭贷款总额没有明显变动，于2月底为18,533亿港元。
The HKMA announced the results of the residential mortgage survey for February 2024.
The number of mortgage applications in February decreased month-on-month by 22.3% to 5,070.
Mortgage loans approved in February decreased by 15% compared with January to HK$17.9 billion.
Mortgage loans drawn down during February decreased by 29% compared with January to HK$11.4 billion.
The outstanding value of mortgage loans remained virtually unchanged in February, standing at HK$1,853.3 billion at end-February.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2024/03/20240328-5/
“转数快”— 打破界限 连系生活
The Faster Payment System – transcending boundaries and connecting with everyday lives
香港金管局与人民银行数字货币研究所推进数字人民币在香港的跨境试点测试，继今年初与多家运营机构及香港本地银行完成演练后，预计数字人民币将在香港进一步扩大试点范围，届时更多香港市民将可便捷开立和使用数字人民币钱包，并透过转数快为其数字人民币钱包增值，以便利需要在内地生活或消费的香港居民在内地支付；内地游客也可以在港使用数币钱包消费，为粤港澳大湾区“一小时生活圈”提供支付配套。
The HKMA has been working closely with the Digital Currency Institute of the People's Bank of China to further expand the cross-boundary e-CNY pilot in Hong Kong. With the completion of a drill that involved various Mainland operating institutions and Hong Kong banks in early 2024, the e-CNY pilot is expected to further expand its scope in Hong Kong to facilitate the set up and usage of e-CNY wallets by Hong Kong residents as well as top-up through the FPS. This arrangement will facilitate cross-boundary retail payments of both Hong Kong and Mainland residents, thereby supporting payments in the “one-hour living circle” in the Guangdong-Hong Kong-Macao Greater Bay Area.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/insight/2024/03/20240327/
跨机构督导小组和国际可持续准则理事会成员在香港举行会议
Cross-Agency Steering Group and International Sustainability Standards Board members met in Hong Kong
绿色和可持续金融跨机构督导小组（督导小组）和国际可持续准则理事会（International Sustainability Standards Board，简称ISSB）的成员于3月27日举行会议，讨论和推动香港企业和金融机构的可持续发展披露。
督导小组和ISSB举办了一场业界圆桌会议，约20位上市公司和不同金融服务业代表参与。与会者就可持续披露的经验以及香港和亚洲区企业作出可持续发展披露的独特情况交换了意见，亦探讨了本地可持续披露生态系统中有哪些核心要素需要更多支援。
Members of the Green and Sustainable Finance Cross-Agency Steering Group (Steering Group) and the International Sustainability Standards Board (ISSB) met on 27 March to discuss and promote sustainability disclosures by companies and financial institutions in Hong Kong.
The Steering Group and the ISSB held an industry roundtable with around 20 representatives from listed companies and different financial services sectors. Participants exchanged views on their experiences in and the unique circumstances for entities making sustainability disclosures in Hong Kong and Asia. They also explored the core elements of a local sustainability disclosures ecosystem that will require further support.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2024/03/20240327-4/
《香港金融管理局季报》及《货币与金融稳定情况半年度报告》
HKMA Quarterly Bulletin and Half-Yearly Monetary and Financial Stability Report (March 2024 Issue)
金管局在2018年9月推出“转数快”，系统由香港银行同业结算有限公司（结算公司）负责营运，旨在支援即时零售支付，从此彻底改变香港的支付环境。金管局会继续致力确保“转数快”系统稳定健全，并会继续与业界合作，探索更多发展机遇，增加本地和跨境的应用场景，进一步推动创新发展。
In September 2018, the HKMA launched the FPS, operated by Hong Kong Interbank Clearing Limited (HKICL), to support instant retail payments in Hong Kong. This new piece of financial infrastructure has revolutionised the payment landscape. Looking ahead, the HKMA will remain committed in ensuring the stability and resilience of the FPS, and will continue to work with the industry to explore new use cases and opportunities both within and outside Hong Kong with the aim of supporting further innovation in payments.
详见：https://www.hkma.gov.hk/gb_chi/data-publications-and-research/publications/half-yearly-monetary-financial-stability-report/202403/
金管局与证监会就优化香港的场外衍生工具汇报制度展开进一步咨询
HKMA and SFC further consult on enhancements to Hong Kong's OTC derivatives reporting regime
香港金管局与证监会3月22日就优化香港的场外衍生工具汇报制度，展开进一步联合咨询。
为对接全球标准，金管局与证监会于2019年4月进行咨询，而其中一项建议规定是就履行汇报责任使用独特交易识别编码，以识别提交予香港交易资料储存库（香港储存库）的交易。
The HKMA and the SFC launched a joint further consultation on enhancements to the over-the-counter (OTC) derivatives reporting regime in Hong Kong on 22 March.
To align with global standards, the HKMA and the SFC conducted a consultation in April 2019, and one of the proposed requirements was identifying transactions submitted to the Hong Kong Trade Repository (HKTR) for the reporting obligation by a Unique Transaction Identifier.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2024/03/20240322-3/
金管局回应美联储议息决定
The HKMA's Response to the US Fed's Interest Rate Decision
美联储联邦公开市场委员会经过一连两天的会议后，在3月21日公布维持联邦基金利率目标区间于5.25-5.5厘。
美联储往后的议息决定将取决于经济数据、前景展望及各方面的风险，今次会后发表的“点阵图”显示今年可能减息三次共75点子，惟确实时间及往后的息率走势仍存在不确定性，高息环境或会维持一段时间。
The Federal Open Market Committee of the Federal Reserve (the Fed) announced on March 21 after its two-day meeting that it had decided to keep the target range for the federal funds rate unchanged at 5.25-5.5%.
The Fed's future interest rate decisions will be dependent on incoming data, the evolving outlook and the balance of risks. The dot plot released after the meeting indicated that the Fed might cut rates three times for a total of 75 basis points this year, but the actual timing and the interest rate path thereafter remain uncertain and the high interest rate environment may last for some time.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2024/03/20240321-3/
金管局推出“数码港元”先导计划第二阶段
HKMA launches Phase 2 of the e-HKD Pilot Programme
香港金管局3月14日宣布推出“数码港元”先导计划（先导计划）第二阶段，以进一步探讨“数码港元”在香港的创新用例。
金管局去年10月完成“数码港元”先导计划的第一阶段，研究可编程支付、代币化资产结算及离线支付等多个范畴的本地零售用例。根据先导计划第一阶段的成果及经验，第二阶段将更深入研究第一阶段的部分试验，即“数码港元”可能带来独特价值的三个特性，包括可编程性、代币化及即时交收，并探索在第一阶段未包括的新用例。
The HKMA announced the launch of Phase 2 of the e-HKD Pilot Programme, with a view to further exploring innovative use cases for an e-HKD in Hong Kong on 14 March.
The HKMA completed Phase 1 of the e-HKD Pilot Programme in October 2023 and had studied domestic retail use cases in various areas such as programmable payments, settlement of tokenised assets, and offline payments. Building on the success and experience of Phase 1, the next phase will delve deeper into select pilots from Phase 1 where an e-HKD could add unique value, namely programmability, tokenisation and atomic settlement, as well as explore new use cases that have not been covered in the previous phase.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2024/03/20240314-4/
中国人民银行将会透过香港金融管理局的债务工具中央结算系统发行人民币央行票据
The People's Bank of China will issue Renminbi Bills through the Central Moneymarkets Unit of the Hong Kong Monetary Authority
中国人民银行将会透过香港金管局的债务工具中央结算系统发行人民币央行票据。中国人民银行的人民币央行票据的招标公告和招标章程以及发行和交存代理通过金管局提供关于招标的信息见附件。
The People's Bank of China (the "PBOC") will issue Renminbi Bills through the Central Moneymarkets Unit of the HKMA. Please find attached the tender notice and the tender information memorandum of the Renminbi Bills to be issued by the PBOC. Please also find attached the tender-related information provided by the Issuing and Lodging Agent through the HKMA.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2024/03/20240313-4/
金管局推出稳定币发行人“沙盒”
HKMA launches the stablecoin issuer sandbox arrangement
香港金管局3月12日宣布推出稳定币发行人“沙盒”。
为配合稳定币发行人监管制度立法建议的咨询，金管局希望通过“沙盒”，向有意在香港发行法币稳定币的机构传达监管期望，并收集参与者对拟议监管要求的意见。
The HKMA announced on 12 March the launch of the stablecoin issuer sandbox arrangement.
Tying in with the consultation on the legislative proposal for implementing the regulatory regime for stablecoin issuers, the HKMA wishes to leverage the sandbox arrangement to communicate supervisory expectations to parties interested in issuing fiat-referenced stablecoins in Hong Kong, as well as to obtain feedback from participants on the proposed regulatory requirements.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2024/03/20240312-4/
稳定币发行人“沙盒”
Stablecoin Issuer Sandbox
“沙盒”(sandbox)是近年新兴的金融监管用语，尤其是在金融科技领域。应用在金融科技领域，“沙盒”主要指监管机构容许金融机构在推出新服务和产品前，在风险可控和规模较小的环境下进行测试并收集数据和用户意见，从而加快相关产品及服务推出的时间，并确保服务及产品符合监管要求。事实上，金管局已推出“金融科技监管沙盒”，并根据所得的经验与内地和澳门监管机构类似的金融科技监管工具进行联网对接，推动跨境金融科技项目的发展。金管局的最新举措则是上星期刚宣布的批发层面央行数码货币(wCBDC)的“沙盒”。
“Sandbox” is a term that has gained traction in financial regulation, in particular in the fintech space. Put in the context of fintech, a sandbox is an arrangement under which regulatory authorities allow financial institutions to test out their new services and products, as well as to gather data and user feedback in a risk-controlled and limited scope environment. The aim is to expedite the launch of services and products while ensuring compliance with regulatory requirements. The HKMA has introduced the “Fintech Supervisory Sandbox”, and with the useful experience gained, linked it up with other similar fintech facilities run by the regulatory authorities in the Mainland and Macau to promote cross-boundary fintech developments. Our latest effort is the wholesale central bank digital currency (wCBDC) sandbox that was unveiled last week.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/insight/2024/03/20240312/
国家财政部透过香港金融管理局的债务工具中央结算系统发行人民币国债
Ministry of Finance issues Renminbi Sovereign Bonds through Central Moneymarkets Unit of Hong Kong Monetary Authority
国家财政部将会透过香港金管局的债务工具中央结算系统发行人民币国债。国家财政部的人民币国债招标公告和招标章程以及发行和交存代理通过金管局提供关于招标的信息见附件。
The Ministry of Finance will issue Renminbi Sovereign Bonds through the Central Moneymarkets Unit of the HKMA. Please find attached the tender notice and the tender information memorandum of the Renminbi Sovereign Bonds to be issued by the Ministry of Finance. Please also find attached the tender-related information provided by the Issuing and Lodging Agent through the HKMA.
详见：https://www.hkma.gov.hk/gb_chi/news-and-media/press-releases/2024/03/20240307-3/
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