News Stories:

Click-on these handy "jump links" to quickly access the news item
you're looking for.

1. SCMP Picture

2. Architects clinch deal to practise on the mainland

3. Professional recognition

4. Buyers of estate may have to pay more

1. SCMP Picture
SCMP 18 February 2004

Henry Tang is all smiles as An Min makes his feelings clear on the issue of patriotism and Hong Kong’s stability yester. Source: SCMP picture

2. Architects clinch deal to practise on the mainland
JOSEPHINE MA in Beijing, SCMP 18 February 2004

Agreements on mutual recognition of the professional qualifications of architects and structural engineers were signed by Hong Kong and the mainland yesterday.

Mainland authorities also agreed to move qualifying exam venues for mainland insurance agents to Hong Kong and allow doctors from the city to work across the border for a longer period.

Similar agreements on mutual recognition for stockbrokers and surveyors were reached earlier in the week.

The Beijing meeting, attended by more than 100 officials and professional representatives, was the largest of its kind since the signing of the Closer Economic Partnership Arrangement last June. Under the deal, 18 service industries have been granted early access to the mainland market. But professional groups must reach agreement with the mainland on mutual recognition before they can transact business across the border.

An Min, the Vice-Minister of Commerce who chaired the conference with Financial Secretary Henry Tang Ying-yen, described the talks as smooth. He said progress was made in all areas, although agreements could be reached more easily in sectors where both sides had similar legal and examinations systems.

Mr Tang said he was pleased with the results, adding that the government would continue to pursue agreements on the qualifications of other professionals.

Following the deal reached on architects and structural engineers, both sides will continue discussions on recognising the qualifications of other professionals in the construction sector.

In the medical sector, Hong Kong doctors can now practise at mainland medical institutes for a maximum period of three years, instead of one year previously, with the option of applying for an extension.

Both sides also agreed to hold further discussions on the possibility of mutual recognition of qualifications.

No agreement was reached on legal practitioners. Alan Leong Kah-kit, of the Hong Kong Bar Association, said yesterday this had been expected.

"It is not easy to have a mutual recognition mechanism independent from the examination system. Today's discussion is a good beginning. I am not surprised or disappointed."

He said both sides had agreed to hold further talks on the possibility of exempting some examination topics or papers in qualification examinations.

Other professional groups welcomed the agreements reached.

Alex Chan Siu-kun, president of the Hong Kong Institution of Engineers, said the agreements meant 2,000 local structural engineers could now enter the mainland market. He hoped the next round of talks would focus on geotechnical and civil engineers.

He said opening the Hong Kong market to mainland professionals would not affect local engineers' prospects.

"Hong Kong engineers are very competitive. I don't think top engineers on the mainland will accept a very low salary to work in Hong Kong," he said.

Bernard Charnwut Chan, the legislator representing the insurance sector, said the agreement would open opportunities for Hong Kong agents. "But for them to succeed on the mainland, they will need to have a very good personal network," he said.

Lo Wing-lok, the lawmaker representing the medical sector, said the conference had established a platform for negotiations. "We now understand each other's position and principles on mutual recognition of qualifications," he said.

3. Professional recognition
SCMP, 18 February 2004

Architects: 120 Hong Kong architects will be able to become class 1 registered architects on the mainland in the next two years

Doctors: Temporary work permits for Hong Kong doctors to practise on the mainland without sitting exams to be extended from one to three years. Expired permits can be renewed

Insurance agents: Professional exams for mainland certification will be held in Hong Kong

Lawyers: More discussions to be held on accreditation

Stockbrokers: Hong Kong brokers will be able to practise on the mainland after passing an exam

Structural engineers: Hong Kong professionals can become class 1 registered structural engineers on the mainland after attending a training session, test and interview

Surveyors: Corporate members of the Hong Kong Institute of Surveyors need to undergo training and a test in Shenzhen to practise on the mainland

Accountants: Discussions on accreditation to continue

4. Buyers of estate may have to pay more
KLAUDIA LEE, SCMP 18 February 2004

Kingsford Terrace in Diamond Hill is also to be sold to developers.

Developers of an estate, built for the government but withdrawn from sale to home-buyers and recently sold back to its builders at a knock-down price, could pay a further premium if they redevelop the site, the housing chief said yesterday.

Secretary for Housing, Planning and Lands Michael Suen Ming-yeung said the conditions of sale had restricted development to a residential gross floor area of 1.55 million sq ft and any redevelopment must stick to the original layout plans for the seven-tower harbourfront estate. If floor plans were changed, the developers would have to negotiate a new premium.

He gave the assurance amid criticism from lawmakers, who said the sale of Hunghom Peninsula favoured property developers at the expense of the public.

The government has been criticised for selling the estate for $2.788 billion to First Star Development, a joint venture between Sun Hung Kai Properties and a New World Development company. New World and a company bought this month by Sun Hung Kai built the estate. The sale price equated to $1,800 per sq ft - $500 below the government's target price.

Critics said the developers stood to make a windfall profit of more than $6 billion - or $4,700 per sq ft - if they demolished the estate and put up luxury flats.

Surveyor Tony Chan Tung-ngok estimated the developer would need to pay an additional premium of $3,000 per sq ft if the floor plan was changed.

Under the deal, First Star will pay a premium of $864 million for converting the project into private homes. The rest of the purchase price, $1.914 billion, is the sum the government was to have paid the developers for building the flats.

Mr Suen told legislators nobody could have predicted property prices would rise to their current level when negotiations with First Star began a year ago. "If we had used $1.914 billion to purchase the flats, we would not have known how to deal with them," he said.

He said the bureau had been under tremendous pressure to reach a deal because of the deadline of July this year for the Housing Authority to nominate buyers for the 2,470 flats under the now-defunct Private Sector Participation Scheme (PSPS) and also because of the developers' litigation seeking damages for alleged delays in nominating purchasers.

The housing chief also pledged to learn from the current incident when dealing with Kingsford Terrace - built, like Hunghom Peninsula, under the PSPS.