HK Customs Seizes Cigarettes Worth $28m
"); jQuery("#212 h3").html("
"); });
2022-03-18 HKT 20:14
Share this story
Hong Kong Customs seized about 10.2 million suspected illicit cigarettes with an estimated market value of about $28 million at the Tsing Yi Customs Cargo Examination Compound on Thursday.
Customs officers found the consignment inside a 40-foot transshipment container, declared to be carrying plastic bins. It had arrived from Vietnam and was heading for the Philippines via Hong Kong.
Authorities said the value of duties on such a cargo in Hong Kong would be about $19.4 million
Under the Import and Export Ordinance, anyone found guilty of importing or exporting unmanifested cargo is liable to a maximum fine of $2 million and seven years’ imprisonment.
Alibaba Invests Over US$50 Billion To Drive AI And Cloud Expansion By 2028
Alibaba Group (9988.HK) revealed plans to invest over 380 billion yuan (US$52.44 billion) into its cloud computing and ... Read more
SFC IOSCO Asia-Pacific Meet-up Sets Roadmap For Sustainable And Secure Capital Markets
The Securities and Futures Commission (SFC) recently participated in a series of dialogues under the International Orga... Read more
WeLab Bank Accelerates AI Deployment With Deepseek To Enhance Efficiency
WeLab Bank has taken a significant step forward in its AI deployment strategy by exploring innovative solutions to enha... Read more
Fusion Bank Completes Core Banking System Migration In 10 Months With Tencent Cloud
Fusion Bank, a licensed digital bank in Hong Kong, has completed its migration to a new core banking system in collabor... Read more
Hong Kong Banks Can Begin Issuing Credit Cards In Mainland China From March 1
Hong Kong banks’ mainland credit cards will soon be available in mainland China, marking a significant step towards d... Read more
SFC Introduces ASPIRe Roadmap To Strengthen Virtual Asset Market In Hong Kong
The Securities and Futures Commission (SFC) outlined 12 key initiatives under the SFC virtual asset ASPIRe roadmap to e... Read more