Doubts on government – from within government – and the usual challenges of Mainland shoppers buying out supplies in Hong Kong. Other than that, a 19 year old boy washes HK$13.1 billion through Hong Kong banks.
Carrie Lam vows to be resolute, worries about government’s capability
Yesterday, at an activity hosted by the Hong Kong Federation of Youth Groups, Chief Secretary for Administration Carrie Lam said that, in the six months since she took office, she has observed the difficulty of governing, had mixed feelings, and worried about the government’s capability. She said that she has had to continually tell herself to be resolute and to continue to serve citizens. She also urged listeners to have patience and allow the administration of Chief Executive Leung Chun-ying to realize its goals.
Mainlanders buy up milk powder from pharmacies across Hong Kong
For a while, parents with babies in Hong Kong have had to deal with shortages of milk powder due to purchases of the powder by mainland people who wish to resell the product. Some of these mainlanders even hire seniors to stand on line in pharmacies and chain stores to purchase high-end milk powder. Some pharmacies have admitted that they have raised prices for milk powder by over 40 percent. Instances of milk powder hoarding have also been reported. Yesterday, the Food and Health Bureau met with milk powder suppliers and retailers to discuss mitigating policies. However, no new method has emerged to solve the problem.
Young mainlander gets 10-year jail sentence for money laundering
A 19-year-old mainlander has been sentenced by the High Court to over 10 years in jail for his role in Hong Kong’s highest-value money laundering case in history. The teenager had set up a company and bank in Hong Kong. He used them to launder HK$13.1 billion in just eight months. The judge said that money laundering cases are increasing in number and expressed his view that more discussion was needed to determine whether the maximum penalty of 14 years in jail was enough to deter potential money launderers.