In addition to stimulating the economy, WeChat Pay HK collaborated with Tencent Charity to launch the "Stamps for Food" charity campaign in Hong Kong. From August 1 onwards, residents can use the consumption voucher through WeChat Pay HK at over 100,000 merchants across the 18 districts of Hong Kong.
#Wechat payment hong kong registration#
Starting from the first day of the registration period on July 4, residents who successfully register and select WeChat Pay HK to receive the consumption voucher can enjoy the merchants' offers. Through the four reward campaigns by WeChat Pay HK, every user can redeem offers and e-cash vouchers worth over HK$10,000 from the "Merchant Offers" Campaign, participate in the "Daily Lucky Draw" to win up to HK$5,000 voucher bonus every day, get the voucher bonus upon registration of the consumption voucher and receive the "Friends and Family Registration Referral Campaign" rewards. Upon successful registration and selecting WeChat Pay HK to receive the consumption vouchers, users can also enjoy consumption voucher rewards apart from receiving the HK$5,000 consumption vouchers. HONG KONG, J/PRNewswire/ - WeChat Pay HK, one of the selected Stored Value Facility operators for the implementation of the consumption voucher scheme (CVS) by the Hong Kong Special Administrative Region Government, held a launch ceremony on July 2 to unveil its offer details regarding the distribution of consumption vouchers. 🏦 These are all part of the normal functioning of MAS as a central bank, and are similar to how other major central banks conduct monetary policy.Spend freely at more than 100,000 local merchants with the consumption vouchers Through a well-diversified portfolio and careful risk management, MAS expects to earn good long-term returns that are commensurate with its risk profile. Notwithstanding the financial loss, MAS’ OFR position remains strong and it transferred S$191 billion of excess OFR to the government. It seeks to preserve the external purchasing power of the OFR over the long-term to support monetary policy implementation. MAS’ investment performance has to be viewed from a longer-term perspective. I also explained that MAS made a small gain of S$0.6 billion on its investment portfolio in the last financial year amidst a depressed market environment. Had MAS not done this, the Singapore Dollar would have been too strong, and hurt our exports and economy. These operations were to mop up excess liquidity in our banking system. The negative currency translation effects arose because our Official Foreign Reserves are held in foreign currencies but reported in Singapore Dollars.Ģ️⃣ Second, the remaining 30% of the loss was due to interest expenses from MAS’ money market operations. This policy has been successful in curbing imported inflationary pressures 📉 and ensuring medium-term price stability.
The appreciation of the Singapore Dollar 💵 last year was the outcome of MAS’ tighter monetary policy to dampen inflation. Today in Parliament, I explained the recent financial loss 💵 recorded by the Monetary Authority of Singapore (MAS) to MPs Don Wee 黄文鸿, Hazel Poa, Hon Weng Yip, Assoc Prof Jamus Lim, and members.ġ️⃣ First, ~70% of the loss was due to the negative currency translation effects of a stronger Singapore Dollar.
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