Hong Kong – Hong Kong, China formally accepts WTO Agreement on Fisheries Subsidies (with photo)
Hong Kong, China formally accepts WTO Agreement on Fisheries Subsidies (with photo)
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Hong Kong, China (HKC) deposited today (August 21, Geneva time) with the World Trade Organization (WTO) its Instrument of Acceptance for the WTO Agreement on Fisheries Subsidies (the Agreement), which is the WTO’s second multilateral trade agreement concluded since its establishment, and its first one with environmental sustainability as the core objective.
The Secretary for Commerce and Economic Development, Mr Algernon Yau, said, “The Agreement is an important outcome of the 12th WTO Ministerial Conference. As a staunch supporter of the multilateral trading system, we are pleased to deposit our Instrument of Acceptance and join the global efforts to operationalise the Agreement, so that it can deliver benefits for trade, development and the environment.”
The Agreement establishes binding and multilateral rules to prohibit certain subsidies with the most harmful effects on the sustainability of fisheries, namely, those contributing to illegal, unreported and unregulated fishing; those for fishing regarding overfished stocks; and those for fishing on the unregulated high seas. It would thereby enhance members’ fisheries management by, among others, incorporating sustainability assessments in the disciplines, creating robust transparency obligations and requiring co-operation among agencies.
After over two decades of negotiations, the Agreement was adopted by WTO members at the 12th WTO Ministerial Conference held in June 2022 and was subsequently open for acceptance.
Since June 2022, the Environment and Ecology Bureau and the Agriculture, Fisheries and Conservation Department (AFCD) have been preparing for the implementation of the Agreement in HKC. The AFCD has kept the trade informed of developments. In order to bring HKC’s financial assistance policy on fisheries in line with the Agreement once it comes into force, the Director of Agriculture, Fisheries and Conservation will make appropriate adjustments to relevant fisheries subsidies and support programmes to ensure that international obligations under the Agreement will be taken into consideration when giving support to/terminating a loan or grant application once the Agreement comes into force. HKC is therefore ready to accept the Protocol.
The second round of negotiations on certain outstanding issues has continued, including the rules on subsidies contributing to overcapacity and overfishing, with a view to making recommendations by the next WTO Ministerial Conference scheduled for February 2024 to further enhance the disciplines under the Agreement. HKC has been participating in the negotiations. The local fisheries trade has also been consulted to ensure that HKC’s views and interests are duly considered during the negotiations.
“The successful conclusion of the Agreement is a milestone achievement as WTO members reinvigorated multilateralism and worked collaboratively to deliver on issues of global importance. Hong Kong, China is committed to working constructively with other WTO members to further strengthen the disciplines,” Mr Yau added.
The Agreement will come into force upon acceptance by two thirds of the WTO members (i.e. 110 members out of a total of 164 members). As of August 21, 2023, 42 WTO members have accepted the Agreement.
For more details about the AFCD’s fisheries subsidies and support programmes, please visit its website at: www.afcd.gov.hk/english/fisheries/fish_cap/fish_cap_techsup/fish_cap_techsup.html.
China BlueChemical Ltd. (“China BlueChem” or the “Company,” stock code: 3983), the leading chemical fertiliser and methanol producer in China, announced its unaudited interim results for the six months ended 30 June 2023. In the first half of the year, the Company’s revenue decreased by 16.2% to RMB 6.176 billion. Net profit attributable to shareholders of the Company significantly increased by 83% to RMB 1.715 billion, marking the record-high mid-year profit in the company’s history. Mr. HOU Xiaofeng, CEO and President of China BlueChem said, “The Company has consistently implemented its green and low-carbon development strategy. Due to ESG considerations, the Company sold a 67% equity interest in CNOOC Tianye, which resulted in a one-time revenue of RMB 850 million in the first half of the year. This significantly drove the company’s profit to grow 83% to RMB 1.715 billion, marking the highest mid-year profit in the company’s history. The Company has consistently boasted the honor and advantage of being an industry leader in energy efficiency. The methanol plant of the Company was awarded the honorary title of “Energy Efficiency Leader” by China Petroleum and Chemical Industry Federation for 12 consecutive years, and the synthetic ammonia plant was awarded the honorary title of “Water Efficiency Leader” by China Nitrogen Fertiliser Industry Association for four consecutive years.” In the first half of 2023, the domestic economy continued to recover, while facing challenges such as insufficient domestic demand and a complex and tough external environment. In response to the market environment, the Company has actively enhanced its marketing capabilities. On one hand, it strived to strengthen its product brand premium, and on the other hand, it intensified its agrochemical services. Additionally, the Company forged ahead cost reduction and efficiency enhancement In the production perspective, the Company’s main facilities have achieved long-term operation. In particular, the C series of DYK Chemical’s sulfuric acid achieved long-term running for 301 days, and CNOOC Huahe’s chemical fertiliser plant achieved long-term running for 228 days, both breaking historical records. The urea production volume of the CNOOC Huahe hit a record high. As a result, the Company produced 1.044 million tonnes of urea, 687 thousand tonnes of methanol, 401 thousand tonnes of phosphate fertilisers and compound fertilisers in the first half of the year. With regards to sales and marketing, the Company accurately assessd the market and strengthened refined pricing. It also fully promoted the export of fertilisers during off-seasons and focused on the development of high-quality trade. The Company deepened its brand building and actively established itself as a “Plant Nutrition Solution Provider”. In the first half of the year, the Company sold 1.045 million tonnes of urea, 655 thousand tonnes of methanol and 352 thousand tonnes of phosphate fertilisers and compound fertilisers. As for the industry outlook in the latter half of the year, the net domestic urea supply will be flat year-on-year or slightly increase, and the domestic supply and demand will be basically balanced, thereby the export will increase significantly. It is expected that the overall urea market will fluctuate. After the continuous decline of phosphate fertiliser, with the recovery and concentrated release of demand, the price of phosphate fertiliser has a certain foundation for stabilising and rebounding in the third quarter, which is related to the trend of international market prices and raw material costs. However, the overall oversupply situation may continue, and the price will still face the risk of falling in the fourth quarter. In the context of stable domestic economic growth, the oversupply of methanol will be alleviated. Under the situation of expected improvement in the macro environment, the market is expected to mainly fluctuate in a wide range. Due to raw materials, demand and other support, the market price of acrylonitrile may rise slightly. Regarding the key strategies for the second half of 2023, Mr. Hou Xiaofeng, CEO and President of China BlueChem said, “The Company will continue to enhance the safe and stable operation of production plants, and promote the completion of HSE “re-systemization” construction. It will continuously optimise the business models and further promote the brand strategy, strengthen warehouse management and give full play to the advantage of inventory premium. Moreover, the Company will promote the analysis of digital scenarios in areas such as smart factory, smart terminal and smart sale, and focus on the construction of terminals in Basuo Port to promote the development of international trade and port logistics service industry, as well as actively deploy the clean energy industry and promote green and low-carbon development in order to bring shareholders good returns.”. About China BlueChemical Ltd. China BlueChemical Ltd. (“China BlueChem”) is a listed company that specialises in the development, production and sales of chemical fertilisers and synthetic chemical products. It is the largest Central enterprise in the field of chemical fertilisers in terms of both production capacity and production volume. The Company is a subsidiary of China National Offshore Oil Corporation which mainly engages in the exploration, development, production and sales of crude oil and natural gas. On 29 September 2006, China BlueChem was listed on the main board of The Stock Exchange of Hong Kong Limited with the stock code 3983. Currently, its production facilities are located in Hainan, Inner Mongolia, Hubei and Heilongjiang, China, with a total designed annual production capacity of 1.84 million tonnes of urea, 1 million tonnes of phosphate and compound fertilisers (mono-ammonium phosphate, di-ammonium phosphate and compound fertiliser), 1.4 million tonnes of methanol, 200,000 tonnes of POM and 70,000 tonnes MMA. It has a deep water port with a designed annual throughout capacity of 18.28 million tonnes in Dongfang city, Hainan province. Boasting continued growth of its brand value, China BlueChem was admitted to the official 2022 China Brand Value Evaluation List with a brand value of RMB3.971 billion, an increase of RMB772 million compared with 2021. In early 2023, the Company was granted “The Outstanding Listed Enterprise Awards 2022 – Excellent Results Performance” by Capital Media in recognition of its impressive and growing financial results. For more information about the Company, please visit its website: www.chinabluechem.com.cn. People’s Bank of China to issue Renminbi Bills through Central Moneymarkets Unit of Hong Kong Monetary Authority
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l CMS is pleased to announce the NDA of the first Diazepam Nasal Spray has been approved for marketing in China. The Product can meet current clinical needs for accessible and convenient treatment option of domestic epilepsy patients 6 years of age and older with seizure clusters/acute repetitive seizures. The Product can be administered at anytime and anywhere, and has the differentiated advantage of seizure rescue, with the characteristic of convenience and optimization through intranasal administration l The Product’s formulation incorporates a unique combination of Vitamin E-based solvents and Intravail® absorption enhancer, and the Product has high bioavailability, outstanding absorbability, tolerance and reliability l In 2023, CMS’s innovation development is stepping into a new cycle of harvesting, and the Product is CMS’s third innovative drug approved for marketing in China this year SHENZHEN, CHINA, June 12, 2023 – (ACN Newswire) – On June 12, China Medical System Holdings Limited (“CMS” or the “Group”) announced that on June 7 2023, the New Drug Application (NDA) of Diazepam Nasal Spray (the “Product”) received approval from the National Medical Products Administration of China (NMPA). The Product is the first diazepam nasal spray in China, and it is indicated for the acute treatment of intermittent, stereotypic episodes of frequent seizure activity (i.e. seizure clusters, acute repetitive seizures) that are distinct from a patient’s usual seizure pattern in patients with epilepsy 6 years of age and older. The Product is a proprietary formulation of diazepam administered through the nasal mucosa, and has high bioavailability, outstanding absorbability, tolerance and reliability. Product formulation incorporates a combination of Vitamin E-based solvents and Intravail® absorption enhancer. Intravail® transmucosal absorption enhancement technology enables the non-invasive delivery of a broad range of proteins, peptides and small-molecule drugs. The results of the Product’s US related clinical trial showed that 87% of seizure cluster episodes used a single dose of the Product over a 24-hour period. A post hoc analysis of these data showed the Product had a rapid onset of action with the median time from administration of the Product to seizure cessation of 4 minutes. Further analyses showed using the Product as intermittent rescue therapy significantly improves the quality of life of epileptic patients and may reflect a beneficial effect in increasing time between seizure clusters. In 2020, the Product was approved for marketing in the United States of America. The active pharmaceutical ingredient of the Product is Diazepam, belonging to the class of benzodiazepines, which are the first-choice drugs for the treatment of seizure clusters. However, there has been a lack of drugs for the treatment of seizure clusters in the China. The Product is the first drug approved in China for the treatment of seizure clusters. It can be administered intranasally at the appropriate time by patients or their caregivers under prescription from a doctor and guidance from medical staff. The Product can meet current clinical needs for accessible and convenient treatment option of domestic epilepsy patients with seizure clusters. The Product can be administered anytime and anywhere, and has the differentiated advantage of seizure rescue, with the characteristic of convenience and optimization through intranasal administration. CMS has always focused on unmet clinical needs, and joined hands with global innovation forces to build a pharmaceutical innovation ecosystem in an open and collaborative setting, to continuously develop differentiated innovative products for patients. Starting from 2023, CMS’s innovation development is stepping into a new cycle of harvesting. Diazepam Nasal Spray is CMS’s third innovative drug approved for marketing in China this year, following the approval of Methotrexate Injection and Tildrakizumab Injection. CMS will steadily prepare for the commercialization of innovative products to benefit more patients in China as soon as possible. Seizure Clusters/Acute Repetitive Seizures According to the clinical diagnosis and treatment guidelines epilepsy volume (revision in 2023), seizure clusters/acute repetitive seizures are defined as ≥3 seizures/24h for adults, ≥3 seizures/12h for children, ≤8h between each seizures, and the consciousness returning to normal level between the two seizures. Seizure clusters are common in certain epilepsy syndromes, menstrual seizures, and drug-refractory epilepsy. If not treated in time, some will develop into status epilepticus, endangering the lives of patients. According to estimation, there are about 6.4 million active epilepsy patients in China, and about 0.3 million new cases reported each year. However, due to a lack of proper awareness towards epilepsy and limited medical resources, the current treatment gap for patients with active epilepsy in China is 49.8%, based on which it is estimated that about 3 million patients with active epilepsy in China have not received appropriate treatment. At present, there is still a lack of epidemiological research on seizure clusters in China. According to overseas studies, the rate of outpatient incidence of seizure clusters is about 15% and therefore it is estimated that nearly 500,000 patients with active epilepsy receiving regular treatment still have seizure clusters. For further detailed information regarding Diazepam Nasal Spray, please see the following link for “Voluntary and Business Update Announcement: New Drug Application of Diazepam Nasal Spray Approved in China” issued by CMS on June 12, 2023: https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0612/2023061200453.pdf About CMS CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet healthcare needs. In 2022, the Group recorded a turnover of RMB9,150 million; in the case that all medicines were directly sold by the Group, the turnover reached RMB10,498 million. Profit for the year reached RMB3,276 million. CMS focuses on developing first- or best-in-class innovative products and has made the layout of 30 differentiated pipeline products with strong market potential. CMS deeply engages in specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to strengthen the competitiveness of its cardio-cerebrovascular/gastroenterology business, and independently operated dermatology and medical aesthetic business, and ophthalmology business, whilst enhancing the scale and efficiency. CMS also entered into the Southeast Asian market to create new opportunities to further enhance the sustainable development of the Group. Media Contact Brand: China Medical System Holdings Ltd. Contact: CMS Investor Relations Email: ir@cms.net.cn Website: https://web.cms.net.cn/en/home/ Source: China Medical System Holdings Ltd. On May 30, China Medical System Holdings Limited (“CMS” or the “Group”) announced that on 26 May 2023, the New Drug Application (NDA) of Tildrakizumab Injection under the brand name of ILUMETRI has been approved by the National Medical Products Administration of China (NMPA). ILUMETRI is indicated for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy. – CMS is pleased to announce the NDA of Tildrakizumab Injection under the brand name of ILUMETRI, a monoclonal antibody specifically targeting the p19 subunit of IL-23, has been approved in China. ILUMETRI is indicated for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy. ILUMETRI is a humanized lgG1/k monoclonal antibody designed to selectively bind to the p19 subunit of interleukin-23 (IL-23) and inhibit its interaction with the IL-23 receptor, leading to inhibition of the release of pro-inflammatory cytokines and chemokines. ILUMETRI has patents on composition and formulation in China. The results of the extended study of its Phase III clinical trial in China demonstrated that the primary efficacy assessment indicator PASI 75 response rate continued to increase over treatment time. The PASI 75 response rate reached a high level after 28 weeks of treatment with ILUMETRI and maintained at 91.3% at week 52, and ILUMETRI showed good long-term safety and tolerance. ILUMETRI only needs to be administered 4 times a year during maintenance treatment period, which may bring higher patient compliance. Psoriasis is an autoimmune disease with complex causes, where IL-23 is regarded as one of the important driving factors of the pathogenesis of psoriasis. The incidence of psoriasis in China is about 0.47%, with the number of patients exceeding 7 million, of which more than 30% have developed into moderate-to-severe disease. ILUMETRI will provide moderate-to-severe plaque psoriasis patients with a safe and effective treatment option. It took only 14 months from obtaining the approval for the drug clinical trial to submitting the NDA for ILUMETRI in China, with the enrollment of 220 subjects completed in only 2.5 months (which included the Spring Festival), highlighting CMS’s highly efficient clinical development capabilities supported by its commercialization strength. ILUMETRI is CMS’s second innovative drug approved to be marketed in China in 2023, following the recent approval of Methotrexate Injection. CMS has invested in, and collaborated with, innovative companies globally over the last 5 years to jointly develop innovative products with academic value and differentiated advantages, in order to meet unmet clinical needs and enhance the accessibility of global innovative drugs for Chinese patients. Starting from 2023, CMS’s innovation development is stepping into the harvest period. ILUMETRI has been approved for marketing in the Hong Kong Special Administrative Region of China in April 2022. Tildrakizumab Injection has also been approved for marketing in the U.S., EU, Japan, UK, Switzerland, Canada, Australia and other countries/regions. About CMS CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet healthcare needs. In 2022, the Group recorded a turnover of RMB9,150 million; in the case that all medicines were directly sold by the Group, the turnover reached RMB10,498 million. Profit for the year reached RMB3,276 million. CMS focuses on developing first- or best-in-class innovative products and has made the layout of 30 differentiated pipeline products with strong market potential. CMS deeply engages in specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to strengthen the competitiveness of its cardio-cerebrovascular/gastroenterology business, and independently operated dermatology and medical aesthetic business, and ophthalmology business, whilst enhancing the scale and efficiency. CMS also entered into the Southeast Asian market to create new opportunities to further enhance the sustainable development of the Group. Media Contact
China BlueChem Achieves Record-High Interim Profit, 2023 1H Profit increases by 83% to RMB 1.715 billion
Topic: Press release summaryHong Kong – People’s Bank of China to issue Renminbi Bills through Central Moneymarkets Unit of Hong Kong Monetary Authority
The following is issued on behalf of the Hong Kong Monetary Authority:
The People’s Bank of China (PBOC) will issue Renminbi Bills through the Central Moneymarkets Unit of the Hong Kong Monetary Authority (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.China Medical System: The first ‘Diazepam Nasal Spray’ Approved for Marketing in China
Topic: Press release summaryChina Medical System: An Innovative Drug, ILUMETRI ‘Tildrakizumab Injection’ Approved for Marketing in China
– The extended study of ILUMETRI’s Phase III clinical trial in China, demonstrated that the primary efficacy assessment indicator PASI 75 response rate continued to increase over treatment time. The PASI 75 response rate reached a high level after 28 weeks of treatment with ILUMETRI and maintained at 91.3% at week 52, and ILUMETRI showed good long-term safety and tolerance.
– ILUMETRI only needs to be administered 4 times a year during maintenance treatment period, which may bring higher patient compliance.
– ILUMETRI will synergize with CMS Aesthetics’ marketed products, Hirudoid, Aethoxysklerol and pipeline products, to solidify comprehensive competitiveness of CMS in the dermatology field.
– This is CMS’s second innovative drug approved for marketing in China this year following the approval of Methotrexate Injection.
CMS Investor Relations
China Medical System Holdings Ltd.
Email: ir@cms.net.cn
Website: https://web.cms.net.cn/en/home/Ads
