The year of the supervision of the Hong Kong Island East Center for 8 years

The rent of office buildings in Hong Kong has been rising in recent years, which has led many companies to choose to “go to Centralization”. In order to save rent, the Hong Kong Securities and Futures Commission will move to the Eastern Centre of Hong Kong Island in Quarry Bay next year to become a part of the “Centralization”.

Budget rent is 16% higher than the previous year’s forecast

At present, the SFC rents an office at the Cheung Kong Centre. According to the documents submitted by the SFC to the Legislative Council, the SFC has already signed an eight-year lease for the Island East Centre. The new tenancy agreement will commence in January next year. The rent is about the current tenancy agreement. Half of the expenditure. As the SFC needs to rent both the Yangtze River Central Office and the Island East Central Office for the renovation of the new office and the transition to the new office, it is expected that the estimated rent for 2019/20 will be about $40.84 million higher than the forecast for the previous year. The increase was 16.4%.

23 new jobs totaled 2.179 billion

Taking into account the office budget, the total budget of the SFC in 2019/20 is about 2.179 billion yuan, up 11.2% year-on-year, mainly due to the addition of 23 positions and the promotion of 28 positions, which will increase the expenses by 106 million yuan. To enhance the internal data search system to support law enforcement and monitoring, the expenditure on information and system services also rose by $18 million.

After the establishment of 23 new posts, the total number of positions in the SFC will increase to 988. The new positions include Intermediaries, Regulatory Enforcement, Corporate Finance, Investment Products and Corporate Affairs.