#OceanPark #BankOfChina
3.1 Billion of 5.4 Billion Ocean Park Financial Subsidy Commercial Debt From Bank of China
A meeting for the approval of a 5.4 billion financial subsidy to Ocean Park was held today by the Finance Committee. It was finally confessed that about 3.1 billion was commercial debt from the Bank of China. LEGCO member Jeremy Tam pointed out that since there is no guarantor in the debt, the government is not obligated to payback the debt even if Ocean Park closes down. "The only one who suffers from this loss is the Bank of China". Eddie Chu also questioned the true purpose of the subsidy "Is it really for saving Ocean Park? Or saving the Bank of China?"
Source: Inmedia
#May22 #Debt
3.1 Billion of 5.4 Billion Ocean Park Financial Subsidy Commercial Debt From Bank of China
A meeting for the approval of a 5.4 billion financial subsidy to Ocean Park was held today by the Finance Committee. It was finally confessed that about 3.1 billion was commercial debt from the Bank of China. LEGCO member Jeremy Tam pointed out that since there is no guarantor in the debt, the government is not obligated to payback the debt even if Ocean Park closes down. "The only one who suffers from this loss is the Bank of China". Eddie Chu also questioned the true purpose of the subsidy "Is it really for saving Ocean Park? Or saving the Bank of China?"
Source: Inmedia
#May22 #Debt
#Newspaper
The bank account of Apple Daily’s Charity fund cancelled by Bank Of China, rumour says the reason is “paying tuitions for students”
(15 Jun) In March 2020, Pro-Beijing organization protested at the Revenue Tower in Wan Chai and suspected that Apple Daily Charitable Foundation was supporting rioters behind the scene in the name of charity work. Apple daily reported that the Foundation’s bank account in Bank of China(BOC) had been cancelled by the bank due to “commercial reasons”.
In Apple Daily’s report, The Charitable Foundation’s BOC account was closed down by the bank due to commercial reasons, and the other three accounts are operating as normal. The fund in the BOC account has been transferred to the other accounts.
According to Apple Daily, BOC staff contacted Mr. Chow Tat Hey, the Chief Executive of the foundation, regarding the protest at the Revenue tower. Mr. Chow explained to the BOC officer, saying the Foundation’s initiative is to support students, to help all the students who are facing financial difficulties because of the Anti Elab movement, and they will not screen applicants based on their political stances. However, the bank did not accept such an explanation and cancelled the account officially by sending a letter to the foundation on 4 May. In the letter, there was no mention of the reason for such a decision.
In March, there was Pro-Beijing group protesting at the Revenue tower, raising banners with slogans like “Toxic apple Fake charity, Funds to the Rioters”, etc, and the group suspected that the initiative of supporting students violates the definition of a charitable organization, and requested the Inland Revenue Department to cancel the charity status of Apple Daily Charitable Foundation.
Apple Daily Charitable Foundation started the initiative of supporting students in the past and claims to provide assistance to University students and students of tertiary education, who are unable to pay tuition and school fees due to family conflicts arising from the Anti elab protest. Apple Daily claims that the Foundation has received 7.85M donations as of 7 June, and is providing assistance to more than 10 students.
Standnews has sent an inquiry to BOC, who refused to comment on this particular case when replying and claimed that the bank has followed respective laws when managing the accounts in their daily operations.
Source: The Stand News
https://bit.ly/2BbdDsP
#AppleDaily #CharitibleFoundation #ChinaInfluence #BankOfChina #AntiELAB
The bank account of Apple Daily’s Charity fund cancelled by Bank Of China, rumour says the reason is “paying tuitions for students”
(15 Jun) In March 2020, Pro-Beijing organization protested at the Revenue Tower in Wan Chai and suspected that Apple Daily Charitable Foundation was supporting rioters behind the scene in the name of charity work. Apple daily reported that the Foundation’s bank account in Bank of China(BOC) had been cancelled by the bank due to “commercial reasons”.
In Apple Daily’s report, The Charitable Foundation’s BOC account was closed down by the bank due to commercial reasons, and the other three accounts are operating as normal. The fund in the BOC account has been transferred to the other accounts.
According to Apple Daily, BOC staff contacted Mr. Chow Tat Hey, the Chief Executive of the foundation, regarding the protest at the Revenue tower. Mr. Chow explained to the BOC officer, saying the Foundation’s initiative is to support students, to help all the students who are facing financial difficulties because of the Anti Elab movement, and they will not screen applicants based on their political stances. However, the bank did not accept such an explanation and cancelled the account officially by sending a letter to the foundation on 4 May. In the letter, there was no mention of the reason for such a decision.
In March, there was Pro-Beijing group protesting at the Revenue tower, raising banners with slogans like “Toxic apple Fake charity, Funds to the Rioters”, etc, and the group suspected that the initiative of supporting students violates the definition of a charitable organization, and requested the Inland Revenue Department to cancel the charity status of Apple Daily Charitable Foundation.
Apple Daily Charitable Foundation started the initiative of supporting students in the past and claims to provide assistance to University students and students of tertiary education, who are unable to pay tuition and school fees due to family conflicts arising from the Anti elab protest. Apple Daily claims that the Foundation has received 7.85M donations as of 7 June, and is providing assistance to more than 10 students.
Standnews has sent an inquiry to BOC, who refused to comment on this particular case when replying and claimed that the bank has followed respective laws when managing the accounts in their daily operations.
Source: The Stand News
https://bit.ly/2BbdDsP
#AppleDaily #CharitibleFoundation #ChinaInfluence #BankOfChina #AntiELAB
#US #Sanction #BankofChina #ChinaConstructionBank #ChinaMerchantsBank #CarrieLam
Chinese Banks Comply with US Sanctions in Hong Kong
China’s largest state-run banks operating in Hong Kong are taking steps to comply with U.S. sanctions imposed on officials in the city, seeking to safeguard their access to crucial dollar funding and overseas networks.
Major lenders with operations in the U.S. including Bank of China Ltd., China Construction Bank Corp., and China Merchants Bank Co. have turned cautious for opening new accounts for the 11 sanctioned officials, including Hong Kong Chief Executive Carrie Lam, according to people familiar with the matter. At least one bank has already suspended such activity.
Source: Bloomberg, iCable News #Aug12
Chinese Banks Comply with US Sanctions in Hong Kong
China’s largest state-run banks operating in Hong Kong are taking steps to comply with U.S. sanctions imposed on officials in the city, seeking to safeguard their access to crucial dollar funding and overseas networks.
Major lenders with operations in the U.S. including Bank of China Ltd., China Construction Bank Corp., and China Merchants Bank Co. have turned cautious for opening new accounts for the 11 sanctioned officials, including Hong Kong Chief Executive Carrie Lam, according to people familiar with the matter. At least one bank has already suspended such activity.
Source: Bloomberg, iCable News #Aug12
Bloomberg
China Banks Act to Comply With Trump Sanctions on Hong Kong
China’s largest state-run banks operating in Hong Kong are taking tentative steps to comply with U.S. sanctions imposed on officials in the city, seeking to safeguard their access to crucial dollar funding and overseas networks.
#Totalitarianism #Bank
HSBC, Heng Seng Bank and Bank of China Freeze Exiled #TedHui and His Family's Accounts
Former lawmaker and former member of Democratic Party Ted Hui announced his plan to go into self-exile on Dec 3, 2020.
Read more:
https://t.me/guardiansofhongkong/27077
On Dec 5, 2020, at least three banks in Hong Kong including HSBC, Heng Seng Bank and Bank of China suspend at least 5 accounts held by Hui and his family members being his parents and his wife.
According to Hui, his lifelong saving of several millions Hong Kong dollars has been frozen. Hui recently left Hong Kong to conduct a 3-day visit in Denmark. He announced his self exile plan after the trip and arrived in London on Dec 4 (local time).
Source: Apple Daily; Stand News #Dec5
https://hk.appledaily.com/local/20201205/B6SFRTCBEVD23KGXWTMPTNFJ5A/
https://bit.ly/3qwn9f6
#HSBC #BankOfChina #HengSengBank
HSBC, Heng Seng Bank and Bank of China Freeze Exiled #TedHui and His Family's Accounts
Former lawmaker and former member of Democratic Party Ted Hui announced his plan to go into self-exile on Dec 3, 2020.
Read more:
https://t.me/guardiansofhongkong/27077
On Dec 5, 2020, at least three banks in Hong Kong including HSBC, Heng Seng Bank and Bank of China suspend at least 5 accounts held by Hui and his family members being his parents and his wife.
According to Hui, his lifelong saving of several millions Hong Kong dollars has been frozen. Hui recently left Hong Kong to conduct a 3-day visit in Denmark. He announced his self exile plan after the trip and arrived in London on Dec 4 (local time).
Source: Apple Daily; Stand News #Dec5
https://hk.appledaily.com/local/20201205/B6SFRTCBEVD23KGXWTMPTNFJ5A/
https://bit.ly/3qwn9f6
#HSBC #BankOfChina #HengSengBank