Author Archives: hksar gov

     With regard to the 2025 Lunar New Year Fireworks Display to be held on January 30, the Marine Department (MD) will implement marine traffic control and strengthen the inspection of spectator vessels on the event day to ensure that safety requirements are met.
    
     A Closed Area in the waters off the Hong Kong Convention and Exhibition Centre in Wan Chai, where barges for the fireworks display are to be anchored, will be established from 2pm to about 10.30pm on the event day. A Restricted Area will be established in the Central Harbour from 7pm to about 9pm on the event day. Other than authorised vessels, no vessels will be allowed to enter these two areas. Scheduled ferry vessels with permission may continue services until 7.40pm.
 
     Spectator vessels may stay inside the Specified Area, excluding the Restricted Area and the Closed Area, for viewing from 6pm to 9pm (the specified period) on the event day. To enhance marine safety during this major event at sea, coxswains of spectator vessels in the Specified Area during the specified period must ensure that children on board are accompanied by an adult and wear a lifejacket at all times. Coxswains must also keep a passenger and crew list on board for emergency purposes. The MD will step up vessel inspections. If any vessel fails to meet these requirements, the department will initiate prosecution.
 
     In addition, to ensure that vessels disperse in an orderly manner, the Eastern and Western Cordon Lines of the Restricted Area will be lifted in stages after the event. The Western Cordon Line will be lifted first at about 9pm. Spectator vessels behind the Western Cordon Line and those wishing to move east must follow the instructions of officers from the MD and the Police at the scene. The Eastern Cordon Line will be lifted later, depending on traffic conditions in Victoria Harbour. It is anticipated that the Restricted Area will be lifted by about 9.15pm on the event day.
 
     For landside crowd control, the public landing steps No. 4 to 6 at Kowloon Public Pier will be closed temporarily from 6am to midnight, and the public landing steps No. 1 to 3 will be closed temporarily from 6pm to about 9pm. Other public landing steps within the Restricted Area will be closed temporarily from 6.30pm to about 9pm. Buffer zones at Kowloon Public Pier, Kwun Tong Public Pier and Central Piers 9 and 10 will be established immediately after the event for the safe and orderly disembarkation of passengers.
 
     Officers from the MD and the Police will also maintain order at major landing facilities after the event. To ensure smooth disembarkation, coxswains and crew members should remind passengers to pack their personal belongings early before the vessels arrive alongside the landing steps and assist passengers in disembarking. Coxswains and passengers should follow the instructions of the MD and the Police at the scene.
 
     The MD and the Marine Police will also strengthen law enforcement, especially concerning life-saving appliances, speeding and overloading. Coxswains and persons-in-charge of vessels should check again and reconfirm that the operating licence, the certificate of survey and the third-party risk insurance are valid before setting sail, and that relevant crew members are not under the influence of alcohol or drugs.
 
     MD Notice No. 14 of 2025 on marine traffic control and safety measures has been issued and is available for viewing on the MD’s website (www.mardep.gov.hk). read more

     The Census and Statistics Department (C&SD) released today (January 27) the external merchandise trade statistics for December 2024. In December 2024, the value of Hong Kong’s total exports of goods increased by 5.2%, whereas the value of imports of goods decreased by 1.1% over a year earlier.
 
     In December 2024, the value of total exports of goods increased by 5.2% over a year earlier to $406.7 billion, after a year-on-year increase by 2.1% in November 2024. Concurrently, the value of imports of goods decreased by 1.1% over a year earlier to $441.2 billion in December 2024, after a year-on-year increase by 5.7% in November 2024. A visible trade deficit of $34.5 billion, equivalent to 7.8% of the value of imports of goods, was recorded in December 2024.
 
     For 2024 as a whole, the value of total exports of goods increased by 8.7% over 2023. Concurrently, the value of imports of goods increased by 6.0%. A visible trade deficit of $379.7 billion, equivalent to 7.7% of the value of imports of goods, was recorded in 2024.
 
     Comparing the fourth quarter of 2024 with the preceding quarter on a seasonally adjusted basis, the value of total exports of goods decreased by 1.1%. Meanwhile, the value of imports of goods decreased by 0.6%.
 
Analysis by country/territory
 
     Comparing December 2024 with December 2023, total exports to Asia as a whole grew by 9.6%. In this region, increases were registered in the values of total exports to some major destinations, in particular Vietnam (+49.0%), the Philippines (+33.8%) and the mainland of China (the Mainland) (+14.9%). On the other hand, decreases were recorded in the values of total exports to India (-33.2%) and Thailand (-16.3%).
 
     Apart from destinations in Asia, decreases were registered in the values of total exports to some major destinations in other regions, in particular the United Kingdom (-28.1%), the Netherlands (-23.6%) and the USA (-15.2%).
 
     Over the same period of comparison, decreases were registered in the values of imports from some major suppliers, in particular Vietnam (-21.7%), Korea (-5.0%) and the Mainland (-3.1%). On the other hand, increases were recorded in the value of imports from Malaysia (+53.7%) and Singapore (+12.1%).
 
     For 2024 as a whole, year-on-year increases were registered in the values of total exports to some major destinations, in particular Vietnam (+29.1%), Thailand (+18.8%), the Mainland (+15.6%) and the USA (+8.5%). On the other hand, a decrease was recorded in the value of total exports to India (-18.0%).
 
     Over the same period of comparison, year-on-year increases were registered in the values of imports from most major suppliers, in particular Korea (+28.4%), Vietnam (+22.7%), Singapore (+18.2%), Malaysia (+10.8%) and the Mainland (+6.0%). On the other hand, a decrease was recorded in the value of imports from the Philippines (-5.9%).
 
Analysis by major commodity
 
     Comparing December 2024 with December 2023, increases were registered in the values of total exports of some principal commodity divisions, in particular “office machines and automatic data processing machines” (by $19.4 billion or +52.1%).
 
     Over the same period of comparison, decreases were registered in the values of imports of some principal commodity divisions, in particular “telecommunications and sound recording and reproducing apparatus and equipment” (by $4.8 billion or -8.9%).
 
     For 2024 as a whole, year-on-year increases were registered in the values of total exports of some principal commodity divisions, in particular “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $198.9 billion or +10.0%) and “office machines and automatic data processing machines” (by $133.5 billion or +32.7%).
 
     Over the same period of comparison, year-on-year increases were registered in the values of imports of some principal commodity divisions, in particular “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $174.6 billion or +8.6%) and “office machines and automatic data processing machines” (by $122.4 billion or +37.9%).
 
Commentary
 
     A Government spokesman said that the value of merchandise exports continued to grow in December 2024 over a year earlier. Exports to the Mainland expanded visibly and those to the European Union turned to an increase. Those to the United States declined further. Meanwhile, those to other major Asian markets showed mixed performance.
 
     Looking ahead, uncertainties in the external environment, in particular trade conflicts, may weigh on Hong Kong’s export performance. Yet, the various measures introduced by the Central Government to boost the Mainland economy should provide support. The Government will monitor the situation closely.
 
Further information
 
     Table 1 presents the analysis of external merchandise trade statistics for December 2024. Table 2 presents the original monthly trade statistics from January 2021 to December 2024, and Table 3 gives the seasonally adjusted series for the same period.
 
     The values of total exports of goods to 10 main destinations for December 2024 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.
 
     Tables 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for December 2024.
 
     All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for December 2024 will be released in mid-February 2025.
 
     The December 2024 issue of “Hong Kong External Merchandise Trade” contains detailed analysis on the performance of Hong Kong’s external merchandise trade in December 2024 and will be available in early February 2025. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020005&scode=230).
 
     Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4691). read more

     The Centre for Health Protection (CHP) of the Department of Health today (January 27) reported the latest number of cases of Legionnaires’ disease (LD), and reminded the public of the importance of using and maintaining properly designed man-made water systems, adding that susceptible groups should strictly observe relevant precautions.

     From January 19 to 25, the CHP recorded two community-acquired LD cases:
 

1. A 77-year-old female patient with underlying illnesses living in Eastern District; and
2. A 60-year-old male patient with underlying illnesses living in Yau Tsim Mong District

     “Epidemiological investigations are ongoing to identify potential sources of infection, high-risk exposure and clusters, if any,” a spokesman for the CHP said.

     As of January 25, nine LD cases had been recorded this year. In 2024 and 2023, there were 135 and 121 LD cases respectively.

     “Men, people aged over 50, smokers, alcoholics and persons with weakened immunity are more susceptible to LD. Some situations may also increase the risk of infection, including poor maintenance of water systems; living in areas with old water systems, cooling towers or fountains; using electric water heaters, whirlpools and spas or hot water spring spas; and recent stays in hotels or vessels,” the spokesman said.

     Legionellae are found in various environmental settings and grow well in warm water (20 to 45 degrees Celsius). They can be found in aqueous environments such as water tanks, hot and cold water systems, cooling towers, whirlpools and spas, water fountains and home apparatus that support breathing. People may become infected when they breathe in contaminated droplets (aerosols) and mist generated by artificial water systems, or when handling garden soil, compost and potting mixes.

     Immunocompromised persons should:
 

• Use sterile or boiled water for drinking, tooth brushing and mouth rinsing;
• Avoid using humidifiers, or other mist- or aerosol-generating devices; and
• If using humidifiers, or other mist- or aerosol-generating devices, fill the water tank with only sterile or cooled freshly boiled water, and not water directly from the tap. Also, clean and maintain humidifiers/devices regularly according to manufacturers’ instructions. Never leave stagnant water in a humidifier/device. Empty the water tank, wipe all surfaces dry, and change the water daily. 

     
     The public should observe the health advice below:
 

• Observe personal hygiene;
• Do not smoke and avoid alcohol consumption;
• Strainers in water taps and shower heads should be inspected, cleaned, descaled and disinfected regularly or at a frequency recommended by the manufacturer;
• If a fresh-water plumbing system is properly maintained, it is not necessary to install domestic water filters. Use of water filters is not encouraged as clogging occurs easily, which can promote growth of micro-organisms. In case water filters are used, the pore size should be 0.2 micrometres (µm) and the filter needs to be changed periodically according to the manufacturer’s recommendations;
• Drain and clean water tanks of buildings at least quarterly;
• Drain or purge for at least one minute infrequently used water outlets (e.g. water taps, shower heads and hot water outlets) and stagnant points of the pipework weekly or before use;
• Seek and follow doctors’ professional advice regarding the use and maintenance of home respiratory devices and use only sterile water (not distilled or tap water) to clean and fill the reservoir. Clean and maintain the device regularly according to the manufacturer’s instructions. After cleaning/disinfection, rinse the device with sterile water, cooled freshly boiled water or water filtered with 0.2 µm filters. Never leave stagnant water in the device. Empty the water tank, keep all surfaces dry, and change the water daily; and
• When handling garden soil, compost and potting mixes: 

1. Wear gloves and a face mask;
2. Water gardens and compost gently using low pressure;
3. Open composted potting mixes slowly and make sure the opening is directed away from the face;
4. Wet the soil to reduce dust when potting plants; and
5. Avoid working in poorly ventilated places such as enclosed greenhouses.

     â€‹â€‹The public may visit the CHP’s LD page, the Code of Practice for Prevention of LD and the Housekeeping Guidelines for Cold and Hot Water Systems for Building Management of the Prevention of LD Committee, and the CHP’s risk-based strategy for prevention and control of LD. read more

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

     The Hong Kong Monetary Authority (HKMA) today (January 27) published the unaudited financial position of the Exchange Fund at end-December 2024.
      
     The Exchange Fund recorded an investment income of HK$219.0 billion in 2024. The main components were:
      

• gains on bonds of HK$135.6 billion;
• gains on Hong Kong equities of HK$21.8 billion;
• gains on other equities of HK$68.7 billion;
• negative currency translation effect of HK$35.6 billion on non-Hong Kong dollar assets (Note 1); and
• gains on other investments of HK$28.5 billion (Note 2).

 
     Fees on placements by the Fiscal Reserves and placements by HKSAR Government funds and statutory bodies were HK$13.2 billion (Note 3) and HK$15.7 billion respectively in 2024, with the rate of fee payment at 3.7 per cent for 2024.
      
     The Abridged Balance Sheet shows that the total assets of the Exchange Fund increased by HK$65.9 billion, from HK$4,016.5 billion at the end of 2023 to HK$4,082.4 billion at the end of 2024. Accumulated surplus stood at HK$731.6 billion at end-December 2024.
      
     The Exchange Fund recorded an investment return of 5.3 per cent in 2024 (Note 4). Specifically, the Investment Portfolio achieved a rate of return of 7.2 per cent and the Backing Portfolio gained 4.1 per cent. The Long-Term Growth Portfolio (LTGP) recorded an annualised internal rate of return of 11.5 per cent since its inception in 2009 up to the end of September 2024.
      
     Commenting on the performance of the Exchange Fund in 2024, Mr Eddie Yue, Chief Executive of the HKMA, said, “Global financial markets performed broadly well in 2024. Major economies recorded stable growth, while inflation eased closer to policy targets. Major central banks progressively lowered their policy rates. This was positive to the investment environment.
      
     Major equity markets rose notably in 2024, with US equities making strong gains in the first three quarters on the back of a generally positive economic and inflationary fundamentals, and the fervor around the artificial intelligence industry. However, markets became more volatile in the fourth quarter and retreated from their highs as investors turned more cautious amidst concerns over rising inflation and bond yields. In the Mainland and Hong Kong, investor confidence improved, following the Central Government’s announcements of a series of policy measures in the third quarter to stimulate the economy and equity market. Nevertheless, the two equity markets softened in the fourth quarter as market participants remained somewhat uncertain about the real economic growth. Meanwhile, global bond markets experienced higher volatility. Although major central banks have affirmed their general policy direction of lowering interest rates, the pace and magnitude of rate cuts have changed a few times during the year. Entering the fourth quarter, as markets began to focus on the US fiscal policy in the coming year, US Treasury yields rose sharply and weighed on bond prices. Furthermore, the US dollar strengthened against other major currencies in 2024, particularly in the fourth quarter, as a result of the interest rate movements and the relatively strong performance of the US economy. In view of these two factors, the Exchange Fund as a whole recorded some valuation loss in the fourth quarter of 2024.
      
     For 2024 as a whole, the Exchange Fund achieved a decent investment income. The bond portfolio has benefited from substantial interest income as a result of persistently high yields. The equity portfolio has also performed well. However, the US dollar strengthened against other major currencies, leading to a negative currency translation effect on our non-Hong Kong dollar assets.”
      
     Mr Yue said, “Looking ahead to 2025, the global financial markets remain uncertain. Interest rate policies will continue to be the focus of the markets. According to the latest projections in December, the US Fed forecasted half a percentage point of rate cut in total in 2025. This is smaller than the previous projection of one percentage point, and reflects the Fed’s more cautious stance towards inflation. Meanwhile, the new US administration’s policies on the economy, tax and trade could add uncertainties to the inflation path. This in turn affects how much room the Fed has in adjusting monetary policy.
      
     Furthermore, any escalation in trade frictions among major economies or geopolitical situation could impact real economic activities, and may also trigger volatility in the financial markets.
      
     Given these challenges we face, the HKMA will, as always, adhere to the principle of capital preservation first while maintaining long-term growth. We will continue to manage the Exchange Fund with prudence and flexibility, implement appropriate defensive measures, and maintain a high degree of liquidity. We will also continue to diversify our investments to strive for higher long-term returns, ensuring that the Exchange Fund remains effective in achieving its purpose of maintaining monetary and financial stability of Hong Kong.”
 
Note 1: This is primarily the effect of translating foreign currency assets into Hong Kong dollar after deducting the portion for currency hedging.
Note 2: This is the valuation change of investments held by investment holding subsidiaries of the Exchange Fund. This figure reflects the valuations at the end of September 2024. Valuation changes of these investments from October to December are not yet available.
Note 3: This does not include the 2024 fee payment to the Future Fund because such amount will only be disclosed when the composite rate for 2024 is available.
Note 4: This return excludes the performance of the Strategic Portfolio and only includes the performance of LTGP up to the end of September 2024. The audited full year return will be disclosed in the 2024 annual report. read more

     Police will implement special traffic arrangements in Tsim Sha Tsui on January 29 (Wednesday) to facilitate members of the public in attending the International Chinese New Year Night Parade.        T… read more