HONG KONG: BANK WATCHDOG KEEPS AN EYE ON FEES

Article Abstract:

The chairman of the Hong Kong Monetary Authority (HKMA) Mr. Joseph Yam said the HKMA would not stop banks from charging service fees but they would keep an eye on whether the fees were properly disclosed to customers in advance. In addition, the HKMA would ensure that employees with direct salary payment accounts at banks would not be disadvantage by certain fees. Following Standard Chartered Bank's announcement that it will charge HK$ 100 per month on savings accounts with less than HK$ 10,000 of bank balance, HSBC said they had no immediate plan to change fee schedule but would keep an eye on the market especially after July. Another bank, Bank of East Asia, said they would also consider raising fees if other banks do so.

Commercial Banks, Commercial Banking, Retail Banking Services, Clearing Banks, Financial Transactions Processing, Reserve, and Clearinghouse Activities, DEPOSITORY INSTITUTIONS, Banking industry, Retail banking, Bank clearinghouses, Hongkong and Shanghai Banking Corporation Ltd., Standard Chartered Bank PLC, Bank of East Asia Ltd., Hong Kong. Monetary Authority

---

HONG KONG: A SURVEY ON HK'S COMPETITIVENESS

Article Abstract:

AC Neilsen conducted a survey with 1,476 overseas companies in Hong Kong on the topic of the competitiveness of Hong Kong as an international business centre. The survey, conducted in the second half of 2000, shows that: 1) about 96% of these foreign companies believe they will do well in the next three years. 2) about 2% of companies with regional headquarters in Hong Kong will move. 3) 39% would expand or keep their operations in Hong Kong. 4) 66% are satisfactory with the government's business policy. 5) 97% of these companies are happy with the current tax system.

Tax Law, Public Finance Activities, Economic Programs, Administration of Economic Programs, Waste Management and Remediation Services, Administration of Air and Water Resource and Solid Waste Management Programs, Direct Investment by Foreign (+), Pollution Control, Sanitary Services, Environmental Programs, Economic policy, Pollution control industry, Environmental policy

---

Similar abstracts:

• Abstracts: HONG KONG: INTEREST RATE WILL BE CUT. HONG KONG: TRAVELLERS GO FOR HOLIDAYS
• Abstracts: HONG KONG: OFFICE RENT WILL GO UP 15%. HONG KONG: SUN HUNG KAI RAISES STAKE IN SMARTONE

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.