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Speaking after signing the contract with Deloitte & Touche Consulting Group, Mr Wong pointed out that retraining was a major tool in helping workers to adjust to the structural changes in the economy of Hong Kong.
"We would like to explore ways to further improve the Employees Retraining Scheme and ensure that the retraining courses will meet the requirements of the labour market. The consultancy study would help map out the strategy and future direction of the scheme," Mr Wong said.
Also present at the signing ceremony was the Chairman of the Employees Retraining Board, Mr Tam Yiu-chung.
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Repurchase agreement between Hong Kong and Japan
The Hong Kong Monetary Authority (HKMA) has agreed with the Bank of Japan (BoJ) acting as agent for the Japanese Ministry of Finance to sign a bilateral repurchase (repo) agreement.
The agreement is one of several that BoJ is planning to enter into with central banks and monetary authorities in the region.
"The HKMA is pleased that it will be signing, along with other Asian central banks, a bilateral US Treasuries repurchase arrangement with the BoJ, acting as agent for the Japanese Ministry of Finance. This would enhance co-operation between Asian central banks in their efforts to maintain currency stability. This would also improve liquidity of foreign exchange reserves of central banks," said Mr Joseph Yam, Chief Executive of the HKMA.
The HKMA has earlier signed repo agreements with central banks from Australia, China, Indonesia, Malaysia, the Philippines and Thailand.
A bilateral repo agreement is the simultaneous agreement to buy securities for an agreed amount of cash and to sell back the same securities at a specific later date for a specified amount. Highly liquid US dollar Government securities are the instruments used in all the repo agreements signed between the HKMA and regional central banks.