Mandatory Provident Fund (MPF)

Talking points

Our editors will be looking ahead today to these developing stories ...

PUBLISHED : Monday, 26 November, 2012, 12:00am
UPDATED : Monday, 26 November, 2012, 2:58am

Strategic dialogue for China and South Korea

China and South Korea hold their fifth high-level diplomatic strategic dialogue in Beijing. The delegations, which include China's Deputy Foreign Minister, Zhang Zhijun, and Korea's First Deputy Minister of Foreign Affairs and Trade, Ahn Ho-young, are expected to exchange views on bilateral relations and major regional issues of common concern. The dialogue started in 2008.


Labour Advisory Board meets on working hours

The Labour Advisory Board discusses a government report on legislating working hours. Activists from the Confederation of Trade Unions plan to rally outside the conference to protest against a warning by an employers' representative that regulating working hours could rock the fundamentals underpinning the city's success.


MPF authority released reform proposals

The Mandatory Provident Fund Schemes Authority releases proposals to reform the much-criticised MPF system. They are believed to include the addition of non-profit operators as MPF trustees and a cap on management fees.


Briefing for lawmakers on power firms' deal

Legco's economic development panel receives a briefing on the interim review of the scheme of control agreements with the two power companies to be conducted next year by the government. The agreements the government signed with CLP Power and Hongkong Electric came into effect in 2008 and 2009 respectively. A key point is to cut the permitted rate of return on average net fixed assets to 9.99 per cent.


Investors focus on US fiscal cliff and Greece

Negotiations by US lawmakers on how to avoid the so-called fiscal cliff and a renewed interest in Europe command the attention of investors this week. Today, Congress returns for a three-week, lame-duck session following the Thanksgiving break, but investors are expecting officials to hammer out a compromise to avoid US$500 billion in automatic tax rises and spending cuts next year. Also, euro-zone finance ministers plan to resume talks today after last week failing to agree on conditions for Greece's next bailout payment.


Inauguration of interreligious dialogue centre

An interreligious dialogue centre is stirring up controversy even before its inauguration today. The King Abdullah Bin Abdulaziz International Centre for Interreligious and Intercultural Dialogue is funded by Saudi Arabia and named after its king. Critics say it could be used to spread the radical brand of Islam known as Wahhabism, and divert attention from human rights violations and lack of religious freedom in Saudi Arabia. Today's glitzy inauguration at Vienna's Hofburg Palace will be attended by United Nations secretary general Ban Ki-moon and senior members of the world's leading religions.