Author Archives: hksar gov

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

     The Hong Kong Monetary Authority (HKMA) announced today (June 29) that the Financial Secretary, on the advice of the Governance Sub-Committee of the Exchange Fund Advisory Committee, has approved the appointment of Mr Colin Pou as the Executive Director (Financial Infrastructure) with effect from October 29, 2018. Mr Pou will take over from Mr Li Shu-pui, who will leave the HKMA on resignation for personal reason with effect from the same date. 
 
     The Executive Director (Financial Infrastructure) is responsible for developing the financial market infrastructure, and for enhancing the fintech ecosystem of Hong Kong. He will also be in charge of the Currency and Settlement Division. Mr Pou’s CV is attached.
 
     Commenting on Mr Li’s departure, the Chief Executive of the HKMA, Mr Norman Chan, said, “We are sorry to lose Mr Li, who has been with the HKMA for 17 years and has made numerous contributions to the work of the HKMA. I wish him the very best in his future endeavours.” read more

     The Government announced today (June 29) its financial results for the two months ended May 31, 2018.      Expenditure for the period April to May 2018 amounted to HK$74 billion and revenue HK$57.8 billio… read more

The following is issued on behalf of the Hong Kong Monetary Authority:
 
      The Hong Kong Monetary Authority (HKMA) released today (June 29) the analytical data on the Hong Kong Special Administrative Region’s foreign currency reserves and foreign currency liquidity as at the end of May 2018 (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 2018, the scheduled dates for issuing the press releases are as follows:
      
 

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) announced today (June 29) that the total assets of the Exchange Fund amounted to HK$4,055.4 billion as at May 31, 2018, HK$112.6 billion lower than that at the end of April 2018.  Foreign currency assets decreased by HK$61.8 billion and Hong Kong dollar assets decreased by HK$50.8 billion.
 
     The decline in foreign currency assets was mainly due to a decrease in unsettled purchases of securities and the sale of US dollars under the Currency Board arrangements.  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 withdrawals of placements by Fiscal Reserves.
 
     The Currency Board Account shows that the Monetary Base at the end of May 2018 was HK$1,644.1 billion, decreased by HK$26.5 billion, or 1.6%, from the end of April 2018. The decline was mainly due to a decrease in the balance of the banking system and the outstanding amount of Certificates of Indebtedness.
 
     The amount of Backing Assets decreased by HK$24.3 billion, or 1.3%, to HK$1,792.4 billion. The decrease was mainly due to the sale of US dollars under the Currency Board arrangements and the redemption of Certificates of Indebtedness. The backing ratio increased from 108.74% at the end of April 2018 to 109.02% at the end of May 2018.

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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 2018, the scheduled dates for issuing the press releases are as follows:
 

     The Census and Statistics Department (C&SD) released today (June 29) a publication entitled "Hong Kong as an Information Society (2018 Edition)".        This publication aims at presenting statist… read more