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Octopus card八達通. The Octopus card (Chinese: 八達通; Jyutping: baat3 daat6 tung1, Cantonese) is a reusable contactless stored value smart card for making electronic payments in online or offline systems in Hong Kong. Launched in September 1997 to collect fares for the territory's mass transit system, it has grown into a widely used ...
Electronic Payment Services (simplified Chinese: 易办事; traditional Chinese: 易辦事; pinyin: Yì bànshì), commonly known as EPS, is an electronic payment system based in Hong Kong, Macau, and with limited acceptance in Shenzhen since it began operations in 1985. The service is provided by EPS Company (Hong Kong) Limited which currently ...
The Water Supplies Department (WSD; Chinese: 水務署) is the department under the Development Bureau of the Government of Hong Kong of the People's Republic of China providing a reliable and adequate supply of wholesome potable water and sea water to customers in Hong Kong. The headquarter office is located at the Immigration Tower on ...
The agreement allows for less water to be withdrawn when reservoirs in Hong Kong are full, and more water to be withdrawn in times of drought, while the annual payment remains the same. Under the new agreement, Hong Kong paid fixed lump sums of HK$2,959 million, HK$3,146 million and HK$3,344 million for 2009, 2010 and 2011 respectively. [9]
The Clearing House Automated Transfer System, or CHATS, is a real-time gross settlement (RTGS) system for the transfer of funds in Hong Kong. It is operated by Hong Kong Interbank Clearing Limited (HKICL), a limited-liability private company jointly owned by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks ...
Faster Payment System (FPS; Chinese: 快速支付系統, more commonly known as 轉數快) is a real-time gross settlement [1] payment system in Hong Kong that connects traditional banks and electronic payment and digital wallet operators. [2] Users are able to perform instant money transfer or make payment to merchants by using the recipient's ...
After seven consecutive years of budget surplus, the Hong Kong Government held a record HK$579 billion in reserve during the 2011 financial year. [4] Under pressure to use the money to do more for the elderly and the poor, Financial Secretary John Tsang announced in the 2011–2012 budget on 23 February 2011 a scheme modelled from the 2008–2009 financial year, whereby HK$6,000 were to be ...
A property tax known as "rates" has been levied in Hong Kong since 1845. The tax applies to all domestic and commercial properties unless exempted, and is based upon the rental value of the property, re-assessed each year. Formerly part of the revenue went to the Urban Council and, from 1986, the Regional Council, but since 2000 the whole ...