Hong Kong customs arrests 5 in suspected HK$8.9 billion ‘phantom trading’ racket

    Hong Kong customs arrests 5 in suspected HK$8.9 billion ‘phantom trading’ racket

    Hong Kong customs has arrested five people on suspicion of laundering HK$8.9 billion (US$1.1 billion) in suspected crime proceeds over a four-year period, with investigators for the first time uncovering a syndicate using sophisticated fake shipping websites for “phantom trading”. Senior Investigator Tsoi Kim-fai of customs’ financial investigation bureau said on Tuesday that the operation…

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    Hong Kong unveils its first blueprint to develop Chinese medicine sector

      Hong Kong unveils its first blueprint to develop Chinese medicine sector

      Hong Kong has launched its first-ever blueprint for the Chinese medicine sector’s development, with authorities seeking to raise the competence of practitioners and product standards as part of efforts to enhance the industry’s status. The “Chinese Medicine Development Blueprint” was unveiled by the government on Thursday and covers five key categories: services; the profession itself;…

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