The Office of the Communications Authority (OFCA) announced today (November 29) that the auction of the radio spectrum in the 6/7 GHz band commenced from Monday (November 25) has completed. A total of 300 MHz of spectrum in the… read more
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announced today (November 29) that a tender of 5-year RMB Institutional Government Bonds (Bonds) under the Infrastructure Bond Programme will be held on December 5, 2024 (Thursday) for settlement on December 9, 2024 (Monday).
A total of RMB1.0 billion 5-year RMB Bonds will be tendered. The Bonds will mature on December 10, 2029 and will carry interest at the rate of 2.37 per cent per annum payable semi-annually in arrear.
Tender is open only to Primary Dealers appointed under the Infrastructure Bond Programme. Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the latest published list, which can be obtained from the Hong Kong Government Bonds website at www.hkgb.gov.hk. Each tender must be for an amount of RMB50,000 or integral multiples thereof.
Tender results will be published on the HKMA’s website, the Hong Kong Government Bonds website, Bloomberg (GBHK <GO>) and Refinitiv (IBPGSBPINDEX). The publication time is expected to be no later than 3pm on the tender day.
HKSAR Institutional Government Bonds Tender Information
Tender information of 5-year RMB HKSAR Institutional Government Bonds:
| Issue Number | : | 05GB2912002 |
| Stock Code | : | 84596 (HKGB2.37 2912-R) |
| Tender Date and Time | : | December 5, 2024 (Thursday) 9.30 am to 10.30 am |
| Issue and Settlement Date | : | December 9, 2024 (Monday) |
| Amount on Offer | : | RMB1.0 billion |
| Maturity | : | 5 years |
| Maturity Date | : | Monday, 10 December 2029 |
| Interest Rate | : | 2.37 per cent p.a. payable semi-annually in arrear |
| Interest Payment Dates | : | June 9 and December 9 in each year, commencing on the Issue Date up to and including the Maturity Date, subject to adjustment in accordance with the terms of the Institutional Issuances Information Memorandum of the Infrastructure Bond Programme and Government Sustainable Bond Programme (Information Memorandum) published on the Hong Kong Government Bonds website. |
| Method of Tender | : | Competitive tender |
| Tender Amount | : | Each competitive tender must be for an amount of RMB50,000 or integral multiples thereof. Any tender applications for the Bonds must be submitted through a Primary Dealer on the latest published list. |
| Other Details | : | Please see the Information Memorandum available on the Hong Kong Government Bonds website or approach Primary Dealers. |
| Expected commencement date of dealing on the Stock Exchange of Hong Kong Limited |
: | December 10, 2024 (Tuesday) |
| Use of Proceeds | : | The Bonds will be issued under the institutional part of the Infrastructure Bond Programme. Proceeds will be invested in infrastructure projects in accordance with the Infrastructure Bond Framework published on the Hong Kong Government Bonds website. |
The Transport Department (TD) today (November 29) alerted members of the public to fraudulent website addresses that pretend to be the HKeToll (see the HKeToll website for details) and seek to deceive users into making pay… read more
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (November 29) that the total assets of the Exchange Fund amounted to HK$4,015.0 billion as at October 31, 2024, HK$118.8 billion lower than that at the end of September 2024. Hong Kong dollar assets decreased by HK$105.0 billion and foreign currency assets decreased by HK$13.8 billion.
The decline in Hong Kong dollar assets was mainly due to the decrease in Exchange Fund Bills and Notes issued but not yet settled at month end. The decline in foreign currency assets was mainly due to mark-to-market revaluation of investments, which was partly offset by interest income from investments and purchase of foreign currencies with Hong Kong dollars.
The Currency Board Account shows that the Monetary Base at the end of October 2024 was HK$1,937.7 billion, decreased by HK$3.7 billion, or 0.2 per cent, from the end of September 2024. The decline was mainly due to the decrease in the outstanding amount of Certificates of Indebtedness, which was partly offset by amortisation of discount on Exchange Fund Bills and Notes issued.
The amount of Backing Assets decreased by HK$7.7 billion, or 0.4 per cent, to HK$2,121.7 billion at the end of October 2024. The decrease was mainly attributable to mark-to-market revaluation of investments and the redemption of Certificates of Indebtedness, which were partly offset by interest income from investments. The Backing Ratio decreased from 109.68 per cent at the end of September 2024 to 109.50 per cent at the end of October 2024.
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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 November 2024, the scheduled dates for issuing the press releases are as follows:
| November 7 (Issued) |
SDDS International Reserves (Hong Kong’s Latest Foreign Currency Reserve Assets Figures) |
| November 14 (Issued) |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| November 29 | SDDS Template on International Reserves and Foreign Currency Liquidity |
| November 29 | Exchange Fund Abridged Balance Sheet and Currency Board Account |
The Government announced today (November 29) the reappointment of Ms Agnes Choi Heung-kwan and the appointment of Mr Edward Liu Yang as lay members of the Council of the Hong Kong Institute of Certified Public Accountants (HKICPA) for a term of two years from December 1, 2024, to November 30, 2026.
A spokesman for the Financial Services and the Treasury Bureau (FSTB) said, “The accounting sector plays a pivotal role in Hong Kong’s success as an international financial centre. We look forward to the contribution of Ms Choi and Mr Liu to the work of the HKICPA in furthering the development of the accounting profession.”
The FSTB spokesman also expressed gratitude to the outgoing member, Ms Theresa Ng Choi-yuk, for her contributions to the HKICPA Council during her tenure.
The HKICPA is the statutory professional body of the accounting sector in Hong Kong. It is responsible for the registration of certified public accountants (CPAs) and various professional functions including examination and training of CPAs, as well as setting requirements for continuing professional development, professional ethics, accounting, auditing and assurance, etc.
The HKICPA Council is the governing body of the Institute. Under the Professional Accountants Ordinance (Cap. 50), the HKICPA Council comprises a maximum of 23 persons, including four lay members appointed by the Chief Executive. The power of the Chief Executive to make appointments to the Council has been delegated to the Secretary for Financial Services and the Treasury. read more