MA issues new mortgage guidelines

The Monetary Authority (MA) notified local banks in a guideline yesterday that they must stop immediately offering mortgage plans that require only interest payment in the first two or three years and it would monitor the banks' observation of this temporary ban. The ban does not apply to mortgage plans that have already been approved.

The MA explained such mortgage plans have put banks at risk of bad debts. It also reminded the banking industry to exercise due caution when estimating borrowers' repayment abilities and evaluating their properties before providing mortgage loans.

In addition to the new restriction, the MA guideline urges banks to ensure the use of loans is consistent with the borrowers' declared loan purposes so as to avoid the funds being used for speculation.

Mid-Levels height restrictions imposed

The Town Planning Board has amended the draft Mid-Levels West Outline Zoning Plan to impose building height restrictions.

The board said yesterday the zonings of various sites have also been amended to reflect as-built conditions.

The draft plan, incorporating the amendments, is available for inspection at the board's secretariat, the North Point and Sha Tin Government Offices, the Hong Kong District Planning Office, and the Central and Western District Office.

Feedback on the amendments must be received by the board secretary by May 20.

New Territories senior numbers up 55%

The number of people aged 65 or above living in the New Territories surged 55 percent - from 231,549 in 1996 to 359,031 in 2006, the Census and Statistics Department says.

According to the March 2008 issue of the Hong Kong Monthly Digest of Statistics released yesterday, the proportion of senior residents - defined as those 65 or older - living in the New Territories swelled from 36.8 percent to 42.1 percent.

Among the 18 District Council Districts, Kwun Tong had the largest number of elderly residents, constituting 11 percent of the total elderly population. The districts with the second and the third largest number of senior residents were Eastern (9.7 percent) and Wong Tai Sin (8.8 percent).

In 2006, a total of 852,796 elderly people lived in Hong Kong. There were 594,730 domestic households with one or more senior, constituting 26.7 percent of the total domestic households in the city.

99.5% of food passes safety tests

The Centre for Food Safety (CFS) tested 8,400 food samples in January and February with an overall pass rate of 99.5 percent. Only 39 failed the tests.

CFS Assistant Director (Food Surveillance and Control) Dr Miranda Lee said yesterday most of the breaches were not serious and would not cause adverse health effects if consumed normally.

Among the unsatisfactory cases, Lee said mercury was found in two swordfish samples while a raw oyster sample was found to have Norovirus nucleic acid.

A sample of rice with curry chicken contained Clostridium perfringen, while a canned pork sample was found to have a trace amount of clenbuterol.

Dr Lee said Norovirus nucleic acid and Clostridium perfringens may cause gastrointestinal discomfort such as abdominal pain, vomiting and diarrhea.

Anti-drink driving campaign to launch

A road safety campaign highlighting drink driving will be held during the Easter holidays (March 21-24).

Police officers will invite people in bar areas to take voluntary breath tests and distribute publicity leaflets at cross-harbor tunnel tollbooths, petrol stations and car parks.

There were 2,291 traffic accidents in the first two months of the year, 68 cases less than the same period last year. Six involved drink driving.

China Daily

(HK Edition 03/21/2008 page1)