The spokesman said it has been the Government's explicit aim to develop the talents of young people in Hong Kong, which is why the Hong Kong Academy for Performing Arts, the Hong Kong Sports Institute and the Jockey Club Ti-1 College are established.
"The setting up of the Fung Hon Chu Gifted Education Centre represents The another government effort to help the development of gifted children. Government will continue to provide opportunities for young people to develop their talents," the spokesman said.
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HKMA statement on Fed funds rate cut
The Hong Kong Monetary Authority (HKMA) issued the following statement this (Wednesday) morning:
"The US Fed has decided to cut the Fed funds rate by 25 basis points, but not the discount rate.
The HKMA expects the movements of Hong Kong interbank interest rates, particularly those for short term money, would in time reflect the cut in the Fed funds
rate.
The HKMA has decided to leave LAF rates unchanged, in line with the decision by the Fed not to cut the US discount rate.
It is for the Committee of the Hong Kong Association of Banks (HKAB) to decide on whether adjustments should be made to interest rates for retail deposits of less than 7 days.
It is for individual banks to decide on whether adjustments should be made to their best lending rates and other lending rates."
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