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March, 2013:

Vincent Lo backs chief executive on Chek Lap Kok mall

Saturday, 09 March, 2013, 4:59pm

News› Hong Kong

Tony Cheung in Beijing

A new Airport Authority (developer / property tycoon) board member says he will push the chief executive’s idea to build a shopping outlet at Chek Lap Kok.

Vincent Lo Hong-shui, a prominent supporter of Leung Chun-ying, said the government should accommodate the needs of both locals and tourists.(including imprisoning the heinous baby formula smugglers)

Lo is the chairman of Shui On Land and a local delegate to the Chinese People’s Political Consultative Conference (CPPCC).(gee whiz so is Henry the illegal Basement)

He was appointed to the Airport Authority board in January (to vote what he was told to do in return for tit for tat ????).

Speaking on the sidelines of the CPPCC in Beijing on Saturday, Lo said that proposals to limit the number of times a mainland visitor could travel to Hong Kong were “strange”.

“We should think positively, about how we could build more facilities and better accommodate them,” Lo said.

(after all there is only 7 million people here and what’s an extra billion visitors hiding their ill-gotten black money in our property market and jewellery stores )

Asked about a new shopping outlet proposed for the airport, Lo said: “Yes, Leung Chun-ying also asked me to do something about this when he appointed me to the Airport Authority.” Lo said they were looking into the proposal and he hoped progress could be made soon. He also said that more tourists would visit Lantau Island once the Hong Kong-Zhuhai-Macau Bridge was completed.     (which has no railwayline connection to HKG   hence the pollution will increase when their EUROstone age  vehicles and  high sulphur mainland fuel comes here –

t was built to enable air cargo from Zhuhai airport to reach Hong Kong airport – the HK Airport Auhthority is a major shareholder in the management of Zhuhai airport,  which has no international destinations)  – did you know that ? ……………

Leung said in his election manifesto the city needed to increase its business capacity and maximise areas near the airport. Lo said that while maintaining growth in tourism could help the economy, (like the hotel builders and the hotel chains and the thieving tour companies and how does it benefit the 99% rest of us ……….>? good question !)

– (gee so the Mainlanders and Mexican/ Colombian /Thai  drug cartels and Zimbabwe despots and Thai Interpol fugitives  hiding their black money forces our rents up with no protection, our property prices ridiculously up and that’s OK ?) our Leung’s priority was still solving the city’s housing woes.

He suggested Leung consider encouraging private sector participation in building subsidised homes so as to speed up the process. (QED: give the developers even more money and reduced land cost so they can then buy the rest of the world’s assets with their profits out of milking Hong Kong people)


Source URL (retrieved on Mar 9th 2013, 10:33pm): http://www.scmp.com/news/hong-kong/article/1187119/vincent-lo-backs-chief-executive-chek-lap-kok-mall

Report of succesful Zero Waste Europe conference in the European Parliament in Brussels

http://www.zerowasteeurope.eu/2013/02/zero-waste-goes-to-the-european-parliament-in-brussels/

Zero Waste Conference at the European Parliament

7 March 2013

More than 300 people—including many members of the European Parliament; mayors and local decision-makers from across Europe; members of the European Parliament; Janez Potocnik, European Commissioner for the Environment; and Oscar-winning actor Jeremy Irons—came together for the first Zero Waste Europe Conference in the European Parliament on 7 March 2013—by far the most successful zero waste event in Europe to date.

“Zero waste might be an ambitious goal in our highly industrialized societies; but it is the right aspiration,” Commissioner Janez Potocnik told a room packed with interested listeners—as well as the overflow crowd watching the streamed event from a second room. He also reminded the audience of the commitment of the Commission to phase out land filling and burning/incineration of recyclable waste by 2020, saying, “No new landfills should be built in Europe (…) incineration is not optimal in the midterm.”

Currently in Europe, 60% of waste is to be disposed, of which 37% goes to landfill and 23% in incinerators. Europe aims to reduce waste by 20% by 2020, but the tools today are not enough. Recycling is not supported the way it should be and financial incentives still go to promote incineration, undermining the very waste hierarchy.

Following the Environment Commisioner’s speech came one of the highlights of the conference—when officials from communities achieving zero waste successes explained their path to zero waste. The mayor of Capannori, the first zero waste town in Europe, explained how after having defeated an incinerator proposal, the town managed to build a system in 2008 that achieves very high recycling rates, reduce waste generation, create occupation and all this without burdening the local finances. He noted,

“We do normal and concrete things, for example: the elimination of plastic bottles in school canteens, no plastic cutlery, self-composting, incentive for the use of cloth diapers, distributors of milk/water on tap, we have a Research Center of Zero Waste for the analysis of the residual waste to the center of repair and reuse”.

Following in the footsteps of Capannori, 123 Italian municipalities, with about 3.3 million inhabitants, have adopted zero waste resolutions.

Iñaki Errazkin, the Environment Minister of the Province of Gipuzkoa, in the Basque Country in Spain, spoke next. He explained how in his province, too, the community rose up and defeated an oversized, expensive incinerator proposal, and then embarked on the zero waste path. Gipuzkoa is now reaping astonishing results after only three years. More and more people in Gipuzkoa are covered by the collection service door to door which together with other measures and only in a few years is delivering impressive recycling rates well above 70 percent. For best results – said Errazkin – we need to involve citizens and become involved in the change process.

The event continued with presentations from the Cradle to Cradle Foundation, Friends of the Earth, and many zero waste practitioners, who highlighted programs including:

  • The Renewable Energy House in Brussels, which will reduce by 95% the waste they are sending to disposal.
  • The shop Effecorta, sourcing local products and selling them without packaging.
  • A zero waste family from the UK proving that a normal family can live without generating waste.
  • ZW fashion, making new clothes out of discarded garments in Bangladesh.
  • The recycling factory DISMECO which recovers 90 to 95% of the materials from electronic waste for reuse and recycling.
  • The Leisure Reuse park from the Zerowaster Pal Martensson in Sweden where they divert huge amounts of waste from the Swedish incinerators.

Pål Mårtensson explained the importance and urgency of moving toward zero waste: “This is a very important and clear message, we have to take care of all the recyclable items we can. We can’t burn or landfill these resources, we have to be careful with all things we call waste, because most of it is not waste, it´s very valuable products that we can reuse and recycle in a modern and intelligent way—and we have to do so, we can´t wait, we have to do it now!”

Enzo Favoino, expert and researcher at the Agricultural School of Monza Park reinforced, with data in hand, that zero waste is not a vision of the future, but something real—something that we not only have to do now, but can do now. Cities such as Turin, Milan and Salerno have already achieved major goals, he noted, calling for a systematic commitment.

Speakers also noted the need for policies to catch up with best practices. “In order to meet the waste related objectives of the Resource Efficiency Roadmap the EU will have to reduce disposal and increase recycling at 5% annual rate until 2020. This is a major leap forward that cannot be achieved with the current legal framework.” said Joan Marc Simon, executive director of Zero Waste Europe and European Regional Coordinator for GAIA. “Eurostat shows how recycling is stagnating in Europe and incineration is going up; we need to change the drivers if we don’t want the EU to waste one more decade”.

The day ended with the screening of the documentary “Trashed,” introduced by a panel that included the film’s narrator, Jeremy Irons; the EU Commissioner for Environment; and the film’s director, Candida Brady. “Trashed” draws on members of GAIA and the zero waste movement to help describe the dangers of wasting the economy, livelihoods, and the climate and point in the direction of a zero waste solution.

Before the film, Irons said, “I would like to see a Government policy implemented of zero waste. Worldwide commodity, prices are rising it seems obtuse to bury or burn those commodities that could be reused at far less cost than producing them anew.”

He added, “I hope ‘Trashed’ will allow people an insight on this quite curable but global problem. It will not be cured without the communal and political will to do so.”

In addition to raising the profile of the problem and of real-world solutions, the conference also laid the groundwork for future collaborations and successes. Thanks to the help of the Green Group in the European Parliament, some 50 activists were brought to Brussels from across Europe, creating a fantastic networking opportunity to share problems and initiate collaborations between civil society and decision-makers. Town-twinnings to implement zero waste programs, for example between municipalities from France and Italy or Spain and Romania, were proposed and stand as remarkable and hopeful outcomes of this gathering. In addition, the day after the conference a group of 30 people went to visit best practices on reuse, pay-as-you-throw and composting from Flanders, Europe’s best performing region.

This conference illustrates how the Zero Waste Europe network is growing stronger and expanding to more and more countries—it now includes France, the Czech Republic, Estonia, Germany, Italy, Hungary Spain, Romania, Bulgaria, the Netherlands, Sweden and the UK. On the policy side, zero waste is now presented in Brussels as a clear and viable alternative to the traditional waste management policies of the EU. As a consequence the Zero Waste Europe network will be a crucial player during the negotiations of 2014-2015 on the review of several EU laws such as the landfill directive, the recycling and prevention targets of the Waste Framework Directive, the Packaging Directive and many others. Zero waste is now the point of reference for progressive ambitious waste and resource practices and policies.

To See pictures of the event visit:

https://plus.google.com/photos/102018200701243887995/albums/5855249967766652337?authkey=CI-ZzurGguaIlgE

Download PDF : Zero-Waste-Europe-conference-Brussels-7-8-March-2013

Hong Kong is making its financial markets less transparent

http://www.economist.com/news/finance-and-economics/21572803-hong-kong-making-its-financial-markets-less-transparent-privacy-and-opacity/print

Mar 2nd 2013 | SHANGHAI |From the print edition

“HONG KONG residents shall have freedom of speech, of the press and of publication.” So begins Article 27 of Hong Kong’s Basic Law. Those rights, ever delicate, are under attack. Just as troubling, so too is Hong Kong’s reputation as Asia’s most transparent financial market.

As part of its effort to modernise the city’s corporate rule book, the government proposed last year that full Hong Kong identity-card (HKID) numbers and home addresses no longer be required of directors. The idea attracted little attention at first. But in recent weeks several Chinese corruption scandals have been exposed by newspapers relying on analysis of such data (mainlanders with ill-gotten gains often stash them in Hong Kong). That has led to a row over the trade-off between directors’ privacy and the public good.

Many agree that home addresses need not be divulged: in Britain, for example, directors may provide a business address. But a surprising coalition now argues that the government must not obscure directors’ identity numbers. Since many local names are similar, the HKID serves as the only practical unique identifier available. Hiding several digits, as the government proposes, would make it hard to cross-reference databases to see executives’ cross-holdings or conflicts of interest.

Related topics

Lee Cheuk-yan, a trade-union leader and opposition legislator, cites examples of workers, who have been denied back pay by bosses professing bankruptcy, using identity numbers to track down other flourishing businesses owned by those same employers. Danny Lau of the Hong Kong Small and Medium Enterprises Association thinks only tycoons benefit from such secrecy: ordinary business people “benefit from more information because that means more trust”. Steve Vickers, a former senior police investigator, argues the reforms will make life easier for money-launderers and crooks.

Conspiracy theorists have wondered if officials in Beijing, humiliated by exposés of corruption in the New York Times and elsewhere, have been putting the squeeze on Hong Kong’s government. In fact, these reforms were proposed before the recent scandals. Legitimate data-privacy issues arise, too. But the government has thrown away its chance of a fair hearing by attacking David Webb, a respected activist investor and online commentator.

Troubled by the proposed reforms, Mr Webb published the sensitive directors’ data—all collated from public sources—on one convenient web page. Trouble came when the official privacy commissioner launched a “compliance check” on his publication, warning darkly that “misuse of personal data contained in public registers may be a contravention” of the data-privacy law. Mr Webb argues he is protected by Article 27; media outlets have rallied to his cause. But the legal cloud has forced him to take that page off his website.

Mr Lee’s party will meet the government this month to try to halt the reforms, but his block lacks the votes to force a change. Jill Wong of King & Wood Mallesons, a law firm, believes directors should be held to a higher standard than ordinary citizens but reckons the reforms are “likely to go through”. If so, Hong Kong will have scored an own goal.

The Economist welcomes your views. Please stay on topic and be respectful of other readers. Review our comments policy.

PKTK2vZVDUFeb 28th, 23:30

With an incompetent Government hierarchy it is to be expected. The Financial secretary bloopered again this week when he deemed himself middle class on a salary of US$ 567,000 a year, mansion, free car with driver and first class travel paid for. The mayor’s office manager earns over US$ 462,000 a year and yet he failed as the former HK Environment Minister to achieve anything to clean Hong Kong’s air in the previous 5 years and should have been fired and charged with misconduct in public office! Recently senior Government Ministerial nominees have been the subject of scandal and arrest over alleged former misdoings. Hong Kong property market is the cesspit money laundry of the world with Mainlanders buying property with cash to hide ill gotten funds prior to skipping their domiciles. Jewellery is another favorite stash for the corrupt funds – meanwhile HKG traditional businesses are being ejected from premises by greedy landlords and occupied by jewellery shops and Brand name entities seeking the Mainland dosh. Causeway Bay now has the highest rents in the world and there is likewise no Governmental control on residential rentals ; such were abolished after SARS in 2003 and never reinstated. Hiding director names and contacts is a further step down a non return slope to the abyss and further money laundering transgressions.

Polar ResidentFeb 28th, 16:54

Hong Kong was always going to have a problem keeping as clean and transparent as possible after 1997 and it has done a good job more or less to date. But it is hard to continue to do so with pressure from China both political and financial. I hope Hong Kong will continue to be as open and transparent as can be as it is a huge asset as a credible financial center and a example for China. If it slips to lower standards and turns a blind eye Hong Kong will drift into a lesser entity

EPA Revised Standards for C&I Solid Waste Incineration Units – Legal Analysis

http://www.waste-management-world.com/articles/2013/02/epa-revised-solid-waste-incineration-standards-legal-analysis0.html

11 February 2013

ByBen Messenger

EPA Revised Standards for C&I Solid Waste Incineration Units - Legal Analysis

The U.S. Environmental Protection Agency (EPA) has issued final changes to Clean Air Act standards for major and area source boilers and commercial/industrial solid waste incinerators (CIWSIs).

According to Washington D.C. based law firm, Bergeson & Campbell, P.C. (B&C), which specialises in representing the chemical industry, the final rule accomplishes two broad goals. It revises the Clean Air Act (CAA) emission limits for CISWIs, and it revises the definition under the Resource Conservation and Recovery Act (RCRA) of ‘nonhazardous secondary material’ (NHSM).

As to the CAA portion of the rule, the law firm explained that the EPA has revised certain emission limits under the CAA for CISWIs and other requirements for these units. The RCRA portion of the rule attempts to define clearly which nonhazardous wastes would be considered solid wastes when combusted.

According to the lawyers, the two portions of the rule work in tandem. When combusted, NHSMs that meet the definition of solid waste must be incinerated in CISWIs, while NHSMs that do not meet the definition of solid waste can be used as fuel in boilers (which are subject to less stringent standards under CAA).

Background

The rule has been over a decade in the making. EPA first formerly declared (promulgated) standards for CISWIs in December 2000.

According to B&C, following a torturous eleven year path of litigation and rulemaking, in March 2011 the EPA promulgated final revisions to the CISWI standards, sparking a firestorm of opposition from stakeholders.

The law firm claimed that the EPA received over 50 petitions for reconsideration from industry, states, and environmental groups. Based on these petitions and EPA’s admission the March 2011 rule may have missed the mark, in May 2011 the agency postponed the effective dates of the March 2011 rule.

Then in December 2011, the EPA issued proposed revisions to the standards, which it believed reflected the additional comments and data it had received from stakeholders. The December 20, 2012, rule is EPA’s attempt to issue these revised standards in final.

The law firm explained that the controversy surrounding this rule is due in large part to its broad scope and estimated costs of compliance.

The EPA estimates that there are more than 1.5 million boilers and 106 CISWI units in the U.S. and that its March 2011 rule would impose annual costs of approximately $300 million.

However, according to B&C many industry stakeholders believed the rule would cost twice as much, if not more, and that the March 2011 standards would be virtually impossible to achieve.

Revisions to CISWI CAA Requirements

The lawyers said that the scope of the revisions continues to be broad and that the EPA defines a CISWI as:

A]ny distinct operating unit of any commercial or industrial facility that combusts, or has combusted in the preceding 6 months, any solid waste as that term is defined in 40 CFR part 241. If the operating unit burns materials other than traditional fuels as defined in §241.2 that have been discarded, and you do not keep and produce records as required by [40 C.F.R.] §60.2175(v), the operating unit is a CISWI unit. While not all CISWI units will include all of the following components, a CISWI unit includes, but is not limited to, the solid waste feed system, grate system, flue gas system, waste heat recovery equipment, if any, and bottom ash system. The CISWI unit does not include air pollution control equipment or the stack. The CISWI unit boundary starts at the solid waste hopper (if applicable) and extends through two areas: The combustion unit flue gas system, which ends immediately after the last combustion chamber or after the waste heat recovery equipment, if any; and the combustion unit bottom ash system, which ends at the truck loading station or similar equipment that transfers the ash to final disposal. The CISWI unit includes all ash handling systems connected to the bottom ash handling system.

According to the law firm the EPA believes that the revisions will ease the compliance burdens for owners and operators of CISWIs while continuing to improve protection of human health and the environment from emissions from these units. The agency estimates that the standards will avoid up to 8100 premature deaths, 5100 heart attacks, and 52,000 asthma attacks and that Americans will receive between $13 and $29 in health benefits for every dollar spent to meet the final standards.

The lawyers said that the EPA appears to have narrowed the scope of the rule and to have issued standards that likely will be more amenable to affected industries.

The EPA also extended the compliance deadlines in the final rule. Owners or operators of existing major source boilers will have until 2016 to come into compliance with the standards, while owners or operators of area source boilers subject to the rule must meet the new standards by March 21, 2014. Existing CISWIs have until 2018 to meet the revised standards.

Revisions to NHSM Regulations

B&C said that the RCRA portion of the rule attempts to define more clearly what nonhazardous wastes would be considered solid wastes when burned. This is an important distinction.

When burned, NHSMs which meet the definition of solid waste would have to be burned in CISWIs that are subject to stringent regulation under CAA Section 129. NHSMs that do not meet the definition of solid waste could be burned as fuels in boilers, which are subject to less stringent standards under CAA Section 112.

In the final rule, the law firm said that the EPA revised the standards at 40 C.F.R. Part 241, which identifies those NHSMs that are considered solid wastes when used as fuels or ingredients in CISWIs. NHSMs – defined as a secondary material that, when discarded, would not be considered a RCRA hazardous waste – that are combusted are generally considered solid waste (and thus must be burned in CISWIs), unless an EPA Regional Administrator grants a non-waste determination petition.

Despite all of the controversy surrounding this portion of the rule, the lawyers said that the EPA made slight revisions, and the bulk of those address so-called ‘legitimacy criteria.’ Under the final rule, several categories of NHSMs are not considered solid waste when combusted. These are:

  • NHSMs that are used as a fuel in a combustion unit and that remain with the control of the generator and that meet specified legitimacy criteria
  • NHSMs used as an ingredient in a combustion unit and that meet specified legitimacy criteria
  • Fuel or ingredient products that are used in a combustion unit and that are produced from the processing of discarded NHSMs
  • Scrap tires that are not discarded and that are managed under the oversight of established tire collection programs.
  • Resinated wood
  • Coal refuse that has been recovered from legacy piles and processed in the same manner as currently generated coal refuse
  • Dewatered pulp and paper sludges that are not discarded and are generated and burned on-site by pulp and paper mills that burn a significant portion of such materials where such dewatered residuals are managed in a manner that preserves the meaningful heating value of the materials.

B&C added that the EPA also revised the definition of NHSM to ensure that materials that are traditional fuels are not considered solid waste. One of the more significant changes it made in the rule is to revise the definition of ‘clean cellulosic biomass.’

The law firm said that the EPA provides a list of clean cellulosic biomass materials that qualify as a traditional fuel (and not solid waste), described as materials that have not been altered, such that they contain contaminants at concentrations normally associated with virgin biomass materials. Specifically, the definition now reads as follows:

Clean cellulosic biomass means those residuals that are akin to traditional cellulosic biomass, including, but not limited to: agricultural and forest-derived biomass (e.g., green wood, forest thinnings, clean and unadulterated bark, sawdust, trim, tree harvesting residuals from logging and sawmill materials, hogged fuel, wood pellets, untreated wood pallets); urban wood (e.g., tree trimmings, stumps, and related forest-derived biomass from urban settings); corn stover and other biomass crops used specifically for the production of cellulosic biofuels (e.g., energy cane, other fast growing grasses, byproducts of ethanol natural fermentation processes); bagasse and other crop residues (e.g., peanut shells, vines, orchard trees, hulls, seeds, spent grains, cotton byproducts, corn and peanut production residues, rice milling and grain elevator operation residues); wood collected from forest fire clearance activities, trees and clean wood found in disaster debris, clean biomass from land clearing operations, and clean construction and demolition wood. These fuels are not secondary materials or solid wastes unless discarded. Clean biomass is biomass that does not contain contaminants at concentrations not normally associated with virgin biomass materials.

After years of dumping incinerator ashes, Pawtucket could be liable for big cleanup

http://www.valleybreeze.com/2013/02/26/pawtucket/after-years-of-dumping-i
ncinerator-ashes-city-could-be-liable-for-big-cleanup

After years of dumping incinerator ashes, Pawtucket could be liable for
big cleanup

Tests will show the extent of the problem

By ETHAN SHOREY, Valley Breeze Staff Writer

PAWTUCKET – For years, few gave much thought to the ash coming from the
old city incinerator. As was often the practice with such hazardous
materials, residue from the trash burned there was dumped at the nearest
convenient spot.

City officials of today fear that those past practices could mean that
the city is responsible for a major contamination cleanup on land near
the now-defunct incinerator off Mineral Spring Avenue. Experts they’ve
hired have warned that the problem there could be a big one.

The dumping site, on a back portion of the Lorraine Mills property at 560
Mineral Spring Ave., is owned by DIBCO LLC and 560 Mineral Spring Ave.
LLC. A mill complex on the front the property is home to artist studios,
a textile company, and a brewery, among other businesses.

The City Council Committee on Claims and Pending Suits voted behind
closed doors last week to spend $11,600 to hire a company to drill wells
and test core samples to determine exactly what went into the soil all
those years.

“We don’t know what else is there that wasn’t put there by the city, so
we feel it’s in our best interest to test the site to determine what is
our responsibility, if any,” said City Councilor Albert Vitali Jr.,
chairman of the claims committee.

City-based Sage Environmental is expected to complete the soil study,
according to Vitali.

Spending a few thousand taxpayer dollars now, presumably to remove any
culpability on the city’s part, could save hundreds of thousands of
dollars in court costs and “protect the taxpayer” down the road, said
Vitali. Members of the claims committee believe working with the owners
of the property to get it cleaned up is the best option available, he
said.

Members of Mayor Don Grebien’s administration are in the process of
determining if the city compensated prior owners of the property in
exchange for being allowed to dump ash on it, according to Vitali.

“If so, our liability is minimal,” he said.

Grebien could not immediately be reached for comment this week.

City officials are conducting a title search to determine who owned the
property during the years the dumping was happening, said Vitali. The
property, located just up the road from the city’s waste transfer
facility, is used today for a number of industrial operations, he said.
The combined DIBCO/560 Mineral Spring properties are valued at $3.69
million, according to the city’s tax database.

The reason the contamination is becoming an issue now, said Vitali, is
that the owners of the property, in trying to refinance, were told by
bank officials that they would need to complete soil testing. To settle a
claim against the city, avoid a lawsuit, and eliminate the potential for
big hazardous waste cleanup costs down the road, city officials are now
paying for the testing, he said.

“We’re trying to cover all our bases,” said Vitali. “Rectifying the issue
is in both of our interests.”

It’s best to “spend a little” to avoid a big court battle, he added.

Hong Kong needs more double-tax deals, says industry

Submitted by admin on Mar 1st 2013, 12:00am

Business›Economy

TRANSPORT

Keith Wallis keith.wallis@scmp.com

Agreements would help cut costs and improve city as a trade, financial and shipping centre

Hong Kong needs to sign more tax-friendly treaties, develop its logistics-related infrastructure and increase the promotion of its shipping and aviation sectors to lure more foreign companies, senior transport executives said yesterday.

Tung Chee-chen, the chairman and chief executive of Orient Overseas (International) Ltd, pinpointed double taxation agreements as being of key importance. He said more such comprehensive pacts would “reduce companies’ costs but also improve Hong Kong as a trade, financial and shipping centre”.

Hong Kong shipping firms estimated they had to pay hundreds of millions of dollars a year extra in tax because Hong Kong has only signed a handful of comprehensive double-tax deals.

China Navigation, a John Swire & Sons shipping subsidiary, moved to Singapore in December 2009 after 138 years in Hong Kong partly because of the tax it would save because Singapore had signed more double-tax treaties. The lack of tax deals also hurts Orient Overseas Container Line, OOIL’s shipping subsidiary.

Figures from the Inland Revenue Department show Hong Kong has signed comprehensive double-tax treaties with 20 jurisdictions, although six more are due to take effect in the 2013-14 tax year. Deals with seven other countries are pending.

By comparison, Singapore has signed comprehensive treaties with 69 countries, according to the city state’s Inland Revenue Authority.

Arthur Bowring, the managing director of the Hong Kong Shipowners’ Association, said there were several industry-specific double-tax agreements applicable to shipping or aviation although comprehensive agreements were best.

What is needed is more of this kind of trump cards. Whether it is the third runway, logistics parks or more container terminals … we must make sure we don’t miss the opportunity

Tung said the government needed to “focus more of its efforts on negotiating more trade deals”.

“What is needed is more of this kind of trump cards,” he told about 150 people at an Ernst & Young-Hong Kong General Chamber of Commerce lunch.

On other developments, Tung said: “Whether it is the third runway, logistics parks or more container terminals … we must make sure we don’t miss the opportunity.”

Tung backed construction of a 10th container terminal but said there were land-related issues to consider.

He said it was “not possible” to build a container terminal “paying the residential price for land”.

Tung said the importance of promoting the industry internationally should not be underestimated because “attracting large international companies to Hong Kong has a knock-on effect. The cluster effect plays a very important role … in capital growth and employment opportunities”.

Stanley Hui Hon-chung, the Airport Authority’s chief executive, supported Tung’s comments, saying that while Guangzhou airport was building a fifth runway, you “can’t stop people from becoming more competitive”.

Instead, Hong Kong should continue to enhance its facilities. This included the development of the Cathay Pacific cargo terminal, a midfield passenger terminal costing HK$10.2 billion, 28 additional aircraft parking stands and a third runway.

Topics:

Double Taxation

Shipping

OOIL


Source URL (retrieved on Mar 1st 2013, 6:36pm): http://www.scmp.com/business/economy/article/1163811/hong-kong-needs-more-double-tax-deals-says-industry

A Clean Air Plan for Hong Kong

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Advanced Thermal Treatment of Municipal Solid Waste

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