HIGH TIDE (APRIL 10TH 2015) – DAILY POLITICAL ROUND-UP

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Reform proposal to be tabled; HKMA to save the peg; Ronny Tong’s platform is gathering force. Photo Credit: Chris Lusher


 

Politics (Government &LegCo)

Government to submit reform proposal as soon as next week.
– Chief Secretary Carrie Lam said that the Government plans to submit its proposal on constitutional reform to the LegCo on either April 15 or April 22
– When asked whether a candidate can become the CE without 50% of the votes, Lam said all details must be set in accordance with the NPC’s 8.31 decision
– Lam, meanwhile, visited the Police Force’s Cyber Security & Tech Crime Bureau and the Counter Terrorism & Internal Security Division

LegCo hold meetings on communication interception and human reproductive tech.
– A LegCo Committee discussed the Interception of Communication and Surveillance (Amendment) Bill which seeks to give the Commissioner on Interception of Communication and Surveillance more power when overseeing official activities related to the ICF Ordinance
– The Government’s representative did not comment on whether the Commissioner can also exercise his power over interceptions of mobile communications such as WhatsApp and Telegram
– Another Bill Committee discussed an amendment bill on the Human Reproductive Technology Ordinance to make publishing and distributing advertisements on sex selection services a new offence

LegCo Panel visits the peak tramway.
– The Panel on Economic Development visited the peak tramway and received a briefing on Peak Tram Improvement Plan
– The Panel earlier on March 25 discussed the Government’s proposal to extend the Peak Tramways Company’s operating rights by 10 more years

HKMA intervenes to stabilise local currency.
– The Hong Kong Monetary Authority (HKMA) has injected HKD3.1 billion to defend the peg, after an inflow of mainland capital which saw the local shares soared for the second consecutive day
– Financial Secretary John Tsang urged investors to be more cautious in light of market volatility while stating that he could not see the risk a bubble

Hong Kong and Shanghai eye stronger financial co-operation.
– Secretary for Financial Services and the Treasury KC Chan met with the Director-General of the Shanghai Municipal Government Financial Services Office Zheng Yang at the fifth Working Meeting of Hong Kong-Shanghai Financial Co-operation in Shanghai
– The two sides shared latest financial developments and discussed further co-operations in the securities and futures industry, cross-border reinsurance business and training and exchange of financial talent
– CY Leung, meanwhile, met with the Shanghai Municipal Committee Secretary Han Zheng in his three-day visit to Wuhan and Shanghai
– Secretary for Transport and Housing Anthony Cheung will meet with National Office of Port Administration Head Huang Shengqiang in Beijing this morning

Politics (general)

Ronny Tong forms platform for moderate pan-dems.
– Civic Party’s Ronny Tong confirmed his plan to form a political platform for 30 moderate pan-dems as early as this Summer holiday
– Tong said the new platform should not follow a deadlocked path, which he criticised his pan-dem compatriots in the LegCo for failing to acknowledge
– The members will hold its first gathering on Sunday
– Tong did not clarify whether he will leave the Civic Party after forming the platform

More political figures raise voice against anti-independence law.

– LegCo President Jasper Tsang said there is ‘no market’ for anti-separatism law and believed that his party compatriot Lawrence Ma was only expressing his personal opinion
– Former Financial Secretary Antony Leung also said that recent anti-parallel trading protests were one-off events and there is no urgent need for introducing such law