Tag Archives: China

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 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:           According to statistics published today (June 29) by the Hong Kong Monetary Authority, total deposits with authorised institution… read more

The following is issued on behalf of the Hong Kong Monetary Authority:        The Hong Kong Monetary Authority (HKMA) announced the results of the residential mortgage survey for May 2018.        The number o… read more

     Following is the transcript of remarks by the Secretary for Labour and Welfare, Dr Law Chi-kwong, on the judgment of a case of neglect of a child handed down by the Court of First Instance of the High Court this afternoon (June 29) after attending the “Unleashing Rehabilitated Offenders’ Potential” Employment Symposium of the Correctional Services Department:

Reporter: How would the Government improve the current mechanism to avoid these incidents from happening again?

Secretary for Labour and Welfare: From the education and also from the welfare perspective, we do consider that there are things we can improve. In particular, because most of the vulnerable children are very young, it is very important to improve the services that we are providing both at the primary school and also the kindergarten level.

     Starting from next year, we will be providing school social work service to the kindergartens in Hong Kong (Pilot Scheme on Social Work Service for Pre-primary Institutions). Although it is a pilot, it will take probably three years for us to fully provide the whole service to all the close to 1 000 kindergartens (child care centres, kindergartens and kindergarten-cum-child care centres) in Hong Kong, we have to start. It is important for us to ensure that the service at the end will be provided to all those children.

(Please also refer to the Chinese portion of the transcript.) read more