Author Archives: hksar gov

     The Government announced today (June 28) the quarterly land sale programme for the second quarter of 2019-20, i.e. July to September 2019.

     “In the second quarter of 2019-20, the Government will sell by tender two residential sites, one each in Kai Tak and Tuen Mun. The total estimated flat yield is about 1 350 units,” the Secretary for Development, Mr Michael Wong, said.

     Mr Wong said that the successful bidder of the Kai Tak residential site (i.e. Kai Tak Area 4A Site 2) will be required to construct specified welfare facilities to provide elderly, child and rehabilitation services.

     In this quarter, the MTR Corporation Limited also plans to tender Package 4 of the Wong Chuk Hang Station project, which can provide about 800 flats.  

     “Including supply from private development and redevelopment projects, the private housing land supply in the second quarter of 2019-20 is estimated to have a capacity to produce about 2 480 flats in total,” Mr Wong said. 

     Mr Wong then reviewed the private housing land supply situation in the first half of 2019-20. The private housing land supply in the first quarter of 2019-20 has a capacity to provide about 2 940 flats in total. Together with the supply in the second quarter, the total private housing land supply in the first half of 2019-20 is estimated to produce about 5 420 flats.

     “On commercial land supply, in the second quarter of 2019-20, the Government will put up for sale one commercial site atop the Hong Kong West Kowloon Station of the Guangzhou-Shenzhen-Hong Kong Express Rail Link. With a capacity to provide a total of about 294 000 square metres of gross floor area, this site is the largest commercial site to be put up for sale by the Government in recent years. Besides, the Government will also re-tender the commercial/hotel site, i.e. Kai Tak Area 4C Site 4,” Mr Wong said. 

     Together with a commercial/hotel site at Shing Kai Road in Kai Tak of the first quarter to be tendered today, a total of three commercial sites will be put up for sale by the Government in the first half of 2019-20, capable of providing about 406 200 square metres of gross floor area in total.

     Mr Wong said that the Government would continue to increase land supply through a multi-pronged approach to meet the community’s needs for housing and socio-economic development.

     The list of the sites to be tendered in July to September 2019 is attached. The actual tender timetable will be drawn up taking into account the progress of necessary preparatory work. The Lands Department will separately announce the detailed land sale arrangements before individual sites are tendered. read more

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) announced today (June 28) that the total assets of the Exchange Fund amounted to HK$4,083.3 billion as at May 31 2019, HK$162.2 billion lower than that at the end of April 2019. Foreign currency assets decreased by HK$84.2 billion and Hong Kong dollar assets decreased by HK$78.0 billion.
      
     The decline in foreign currency assets was mainly due to a decrease in unsettled purchases of securities and the redemption of Certificates of Indebtedness. The decline in Hong Kong dollar assets was mainly due to a decrease in Exchange Fund Bills and Notes issued but not yet settled and the fall in market value of Hong Kong equities.
      
     The Currency Board Account shows that the Monetary Base at the end of May 2019 was HK$1,623.6 billion, decreased by HK$6.3 billion, or 0.4%, from the end of April 2019. The decline was mainly due to a decrease in the outstanding amount of Certificates of Indebtedness.
      
     The amount of Backing Assets decreased by HK$1.6 billion, or 0.1%, to HK$1,807.0 billion. The decrease was mainly attributable to the redemption of Certificates of Indebtedness, which was partly offset by interest from investments and revaluation gains. The backing ratio increased from 110.95% at the end of April 2019 to 111.29% at the end of May 2019.
 
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     At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency. For the month of June 2019, the scheduled dates for issuing the press releases are as follows:
 

     A man who went missing in Yau Ma Tei has been located.      Wong Kam-yu, aged 75, went missing after he left his hostel on Public Square Street on June 26 morning. A staff member of the hostel m… read more

     Following is the transcript of the opening remarks by the Secretary for Development, Mr Michael Wong, at a media session today (June 28) on the land sale programme for July to September 2019:
 
     In the second quarter of 2019-20, the Government will sell by tender two residential sites. The sites are located in Kai Tak and Tuen Mun, capable of providing around 1 350 flats in total. The MTR Corporation Limited also plans to tender Package 4 of the Wong Chuk Hang Station project, which will produce about 800 flats. Including the supply from private development and redevelopment projects, the private housing land supply in the second quarter is estimated to produce about 2 480 flats in total. 
 
     Together with the residential land supply in the first quarter, the total private housing land supply in the first half of 2019-20 from all sources will stand at about 5 420 flats. 
 
     In the second quarter, the Government will put up for sale one commercial site atop the Hong Kong West Kowloon Station of the Guangzhou-Shenzhen-Hong Kong Express Rail Link, capable of providing about 294 000 square meters of gross floor area, making it the largest commercial site to be sold in recent years.  
 
     We tendered the commercial site Area 4C Site 4 in Kai Tak in the first quarter. The sale was eventually cancelled with the successful tenderer failing to pay the balance of the land premium by the payment deadline. We will re-tender this site in the second quarter. Including the West Kowloon site, these two commercial sites are capable of providing about 374 200 square meters of gross floor area.
 
     Looking ahead, the Government will continue to increase land supply through a multi-pronged approach to meet the community’s demands for housing, economic and social development land.
 
     Thank you very much. read more

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) released today (June 28) the analytical data on the Hong Kong Special Administrative Region’s foreign currency reserves and foreign currency liquidity as at the end of May 2019 (Annex). These data are published monthly in the Template on International Reserves and Foreign Currency Liquidity in accordance with the International Monetary Fund’s Special Data Dissemination Standard.

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     At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency. For the month of June 2019, the scheduled dates for issuing the press releases are as follows: