Red tide sighting report by the inter-departmental red tide working group
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In response to the multiple red tide sighting reports in Hong Kong waters received over the last few days, the Inter-departmental Red Tide Working Group today (March 14) reported that sample analysis results showed that all these red tides had been caused by Noctiluca scintillans, which is non-toxic and commonly found in Hong Kong waters.
A spokesman for the working group said that red tide is a natural phenomenon. Various factors, such as nutrient level, water temperature, salinity, current, water stratification may contribute to red tide formation. It is difficult to isolate a single cause. Given the wide extent of the red tides, the situation may last for several days. As the weather and hydrological conditions change, the red tides will naturally dissipate when the number and density of algae in the water decrease.
From March 12 to 4.30pm today, eight red tides were spotted at Big Wave Bay Beach, Rocky Bay Beach, Middle Bay Beach, South Bay Beach, Repulse Bay Beach, Deep Water Bay Beach, Stanley Main Beach and Chung Hom Kok Beach, Hong Kong Island, respectively; while three were spotted at the Tathong Channel to Lei Yue Mun (including Junk Bay and Tung Lung Chau Fish Culture Zone), Victoria Harbour (near Hung Hom) and the Southern waters of Hong Kong (including East Lamma Channel and Sheung Sze Mun) respectively. The above-mentioned red tides still persist. The Agriculture, Fisheries and Conservation Department (AFCD) has collected water samples from the above-mentioned areas for analysis and found that the red tides were caused by non-toxic Noctiluca scintillans.
No abnormality has been observed for the fish in all fish culture zones as at 4.30pm today. The AFCD will continue to closely monitor the situation of red tides in various fish culture zones and urge concerned mariculturists to pay attention to their mariculture rafts and increase aeration where necessary. The AFCD will provide appropriate assistance when needed.
The AFCD’s proactive phytoplankton monitoring programme will continue monitoring red tide occurrences to minimise the impact on the local mariculture industry and the public. Staff of the AFCD will regularly collect phytoplankton samples at fish culture zones and five offshore stations to detect the presence of harmful algal bloom and red tides. Sampling frequency will be stepped up when harmful algal species or abnormal phytoplankton population is detected.
When spotting a red tide, members of the public may note the location, colour of the seawater, extent of the red tide, occurrence of dead fish and any other abnormal features observed around the red tide, and report by emailing mailbox@afcd.gov.hk, or calling 2150 7124 during office hours.
Feb 14, 2022 | International
Report on “Demographic Changes and Long-Term Asset Markets: Opportunities and Developments in Hong Kong”
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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Institute for Monetary and Financial Research (HKIMR), the research arm of the Hong Kong Academy of Finance (AoF), today (14 February) released a new Applied Research report, titled “Demographic Changes and Long-Term Asset Markets: Opportunities and Developments in Hong Kong”. HKIMR Applied Research reports are released on topics that are highly relevant to market participants and regulators in Hong Kong, and they aim to provide insights on the long-term development strategy and direction of Hong Kong’s financial services industry.
In view of the demographic changes in Hong Kong and the associated increase in demand for long-term assets for retirement planning, this report explores the opportunities and developments in Hong Kong’s long-term asset markets. It investigates the growth in demand for long-term assets due to demographic trends and reviews the various long-term assets available in Hong Kong. The report also gathers insights of local market participants through a survey and interviews commissioned by the HKIMR, highlighting the growth opportunities and arising key trends. For example, 83 per cent of the respondents would move towards ESG adoption in their investment strategies and 89 per cent would consider the Guangdong-Hong Kong-Macao Greater Bay Area initiative in their strategic plans. The report concludes by discussing ways to promote the healthy development of Hong Kong’s long-term asset markets amidst the demographic transition.
“Because of its robust infrastructure and world-class pool of professional talent, Hong Kong is well positioned to capture the opportunities created by its shifting population dynamics. We are optimistic that the future development of the long-term asset markets in Hong Kong will further facilitate residents’ retirement planning,” said Deputy Chief Executive of the Hong Kong Monetary Authority (HKMA) and Deputy Chairman of the HKIMR, Mr Edmond Lau.
The report is available on the AoF/HKIMR website.
About the AoF
The AoF is set up with full collaboration amongst the HKMA, the Securities and Futures Commission, the Insurance Authority and the Mandatory Provident Fund Schemes Authority. By bringing together the strengths of the industry, the regulatory community, professional bodies and the academia, it aims to serve as (i) a centre of excellence for developing financial leadership; and (ii) a repository of knowledge in monetary and financial research, including applied research.
About the HKIMR
The HKIMR is the research arm of the AoF. Its main remit is to conduct research in the fields of monetary policy, banking and finance that are of strategic importance to Hong Kong and the Asia region. The Applied Research studies undertaken by the HKIMR are on topics that are highly relevant to the financial industry and regulators in Hong Kong, and they aim to provide insights on the long-term development strategy and direction of Hong Kong’s financial industry.
Nov 27, 2021 | Business
Mitsubishi Heavy Industries, Ltd. (MHI) today published the MHI Report 2021. This year’s report focuses on the growing interest in environmental, social, and governance (ESG) factors and modern society’s questioning of the current state of capitalism, presenting MHI Group’s management philosophy and information on specific corporate activities based on these factors.
The report begins with a dialogue between the MHI Group chairman and Takahiro Nakajima, noted philosopher and professor at the Institute for Advanced Studies on Asia, the University of Tokyo, who share their thoughts on corporate management and governance in the new era. The President’s Message explains MHI Group’s path to value creation, focusing on the significance of MHI Group, and the concept for the Medium-term Business Plan (2021 Business Plan) created by backcasting from the MHI Group Vision for 2030.
For the 2021 Business Plan, the Chief Strategy Officer (CSO) describes the specific strategies for “developing high growth businesses,” one of the plan’s two main themes. The other theme of “regain and strengthen profitability” is examined through a conversation on business portfolio management between the Chief Financial Officer (CFO) and Shoichi Tsumuraya, professor at Hitotsubashi University.
The report also contains an overview of MHI Group’s initiatives for sustainability, including company-wide targets and specific processes for the core issues (materiality) specified in 2020. A special feature presents MHI Group’s basic approach to measures for “energy transition,” one of the priority growth areas in the plan, including decarbonization of existing infrastructure, and establishing ecosystems for hydrogen and carbon dioxide. Further, the report shows the measures being pursued by each business, formulated based on the current situation determined using a SWOT analysis*.
The latter half of the report contains an explanation from the Chief Technology Officer (CTO) on efforts to strengthen core technologies, including specific examples of measures to realize innovation, while the Human Resources (HR) director provides an overview of measures to strengthen the personnel foundation-the source of MHI Group’s competitiveness-including measures that allow employees to work autonomously. The report also includes details of measures to ensure the effectiveness of corporate governance, including a new skill matrix of directors.
MHI Group, by issuing this report with a careful balance of financial and non-financial information, is demonstrating its stance toward protecting the global environment and its business direction to meet the current era, as well as providing clear communication to shareholders, investors, and a broad range of stakeholders.
*A SWOT Analysis is a technique for formulating management strategies by assessing the external and internal environment using a factor analysis with four categories (Strengths, Weaknesses, Opportunities, Threats), and determining how to optimally utilize management resources to adapt to changes in the business environment.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, logistics & infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on www.spectra.mhi.com.
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