Tag Archives: China

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

     The Hong Kong Monetary Authority (HKMA) released today (January 14) the key analytical accounts of the Exchange Fund at the end of December 2024.

     Foreign assets, representing the external assets of the Exchange Fund, decreased during the month by HK$28.1 billion to HK$3,478.3 billion.

     The Monetary Base, comprising Certificates of Indebtedness, Government‑issued currency notes and coins in circulation, the balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HK$1,957.6 billion.

     Claims on the private sector in Hong Kong amounted to HK$305.7 billion.

     Foreign liabilities amounted to HK$24.3 billion.
 
     The analytical accounts of the Exchange Fund are released in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex).

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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 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 January 2025, the scheduled dates for issuing the press releases are as follows:
 

January 7  (Issued)	SDDS International Reserves (Hong Kong’s Latest Foreign Currency Reserve Assets Figures)
January 14	SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)
January 28	SDDS Template on International Reserves and Foreign Currency Liquidity
January 28	Exchange Fund Abridged Balance Sheet and Currency Board Account

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     The first-ever Gulf Cooperation Council (GCC) Chapter was successfully held at the Asian Financial Forum today (January 14), marking a significant milestone in the collaboration between Hong Kong and the GCC countries in the financial services sector. The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said the Hong Kong Special Administrative Region (HKSAR) Government will continue to collaborate with the GCC Secretariat to co-organise mega events and explore concrete measures with a view to further strengthening financial market co-operation.
 
     Mr Hui and the Secretary-General of the GCC, Mr Jasem Mohamed Albudaiwi, gave keynote remarks at the GCC-dedicated session, followed by a panel discussion engaging government and business leaders from both Hong Kong and GCC countries.
 
     Addressing the session, Mr Hui said that countries in the Middle East have been looking for new investment opportunities worldwide in recent years in light of the increasingly complex global landscape. As an important hub connecting the Mainland, Asia and global capital markets, Hong Kong is definitely an ideal “super-connector” that can address the needs of GCC countries. Moreover, Hong Kong has attained significant developments in green and sustainable finance over the years and is rising as an international green finance centre, which will also add value for GCC countries as they nurture new growth areas such as green energy. The room for co-operation between Hong Kong and GCC countries in various fields of the financial services sector, such as securities market, Islamic finance and asset and wealth management, is also enormous.
 
     Mr Albudaiwi expressed optimism about the future of relations between the GCC and Hong Kong, emphasising the GCC’s aspiration to enhance dialogue and co-operation to achieve mutual prosperity.
 
     During the panel discussion, distinguished speakers from GCC countries and Hong Kong had a lively discussion on the current status of financial connections between the GCC and Hong Kong, as well as emerging areas of financial co-operation and opportunities that have arisen.
 
     Today’s successful organisation of the GCC Chapter at the Asian Financial Forum is a promising start for the HKSAR Government to enhance collaboration with the GCC Secretariat. The two parties will continue to stay closely connected to co-organise mega events that foster greater understanding of each other’s markets and explore concrete measures to further strengthen financial market co-operation in various aspects, such as capital market connectivity, sustainable finance, fintech, asset and wealth management, family offices, and financial infrastructure development, for the mutual benefit of Hong Kong and the GCC. read more

　　The Transport Department (TD) today (January 14) reminded members of the public that the following temporary traffic and transport arrangements will be implemented on Tai Hom Road from 1am to 5.30am this Sunday (January 19) to facilitate footbridge erection works:

(A) Road closures
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     The following road sections will be temporarily closed to all vehicular traffic:
 

• Tai Hom Road between Lung Poon Street and Sheung Yuen Street; and
• The slip road leading from Tai Hom Road to Tate’s Cairn Highway.

(B) Traffic diversions
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• Affected vehicles on Fung Tak Road westbound via Lung Poon Street southbound heading for Lung Cheung Road eastbound will be diverted via Po Kong Village Road southbound, slip road, Tai Hom Road, Lung Poon Street northbound, Fung Tak Road eastbound, roundabout and Hammer Hill Road southbound; and
• Affected vehicles on Tai Hom Road heading for Tate’s Cairn Highway will be diverted via Lung Poon Street northbound, Fung Tak Road eastbound, roundabout, Hammer Hill Road southbound, slip road, Lung Cheung Road eastbound, Choi Hung Interchange, Lung Cheung Road westbound, slip road and Tate’s Cairn Highway northbound.  

 
(C) Public transport arrangements
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　　During the above works period, the following bus routes affected by the temporary road closures will be diverted:
 

• Citybus Route Nos. E22 (Lam Tin (North) bound), E22A (Tseung Kwan O (Hong Sing Garden) bound), A28 (LOHAS Park bound), A29 (Tseung Kwan O (Po Lam) bound), N26 (Yau Tong bound), NA29 (Tseung Kwan O (Po Lam) bound) and N29 (Tseung Kwan O (Hong Sing Garden) bound);
• KMB Route Nos. 38 (Ping Tin bound), 40 (Laguna City bound) and 214 (Yau Tong bound); and
• Huanggang Short-haul cross-boundary coach service Kwun Tong Route (Kwun Tong bound).

 
　　Their stops/drop-off points on Tai Hom Road or Sheung Yuen Street will be temporarily relocated to Lung Poon Street northbound near Lung Bik House. Please visit the TD’s website for details (www.td.gov.hk/en/traffic_notices/index_id_78881.html).
 
　　Appropriate traffic signs will be erected on-site to guide motorists. The public transport operators will display notices informing passengers of the above temporary arrangements. The TD anticipates that the travelling time at the road sections concerned will be slightly lengthened due to the diversion arrangements. Motorists should exercise tolerance and patience.
 
　　Members of the public are advised to plan their journeys in advance and allow sufficient travelling time, and stay alert to the latest traffic news through the media or the TD’s mobile application “HKeMobility” or website (www.td.gov.hk).  read more

     The Immigration Department (ImmD) today (January 14) announced an adjustment of submission means for applications under various admission policies/schemes to further promote electronic services for visa applications.
 
     With effect from January 17, the ImmD will adjust the submission means of the following admission policies/schemes:

1. General Employment Policy (including both employment and investment as entrepreneurs);
2. Admission Scheme for Mainland Talents and Professionals;
3. Capital Investment Entrant Scheme;
4. Training;
5. Working Holiday Scheme; and
6. Residence as Dependants.

 
     Applicants of the aforementioned admission policies/schemes must submit their applications for visa/entry permits and extensions of stay by electronic services with effect from January 17. The ImmD will no longer accept such applications submitted in person, or by post or drop-in-box. The eligibility and approval criteria for the relevant policies/schemes remain unchanged. After submitting the applications, applicants can also upload supplementary documents and/or inquire as to the status of applications online if necessary.
 
     Electronic services for a visa application allow applicants to complete the entire process of an application submission, payment and collection of an “e-Visa” through the ImmD mobile application, the ImmD’s website (www.immd.gov.hk/eng/index.html) or the GovHK website (www.gov.hk/en/nonresidents/), without having to visit an Immigration Office in person.
 
     For enquiries, please call 2824 6111, or send enquiries to the ImmD by email at enquiry@immd.gov.hk or by fax at 2877 7711. read more

     â€‹The Secretary for Culture, Sports and Tourism, Miss Rosanna Law, will depart for Guangzhou tomorrow afternoon (January 15) to attend the 12th Guangdong-Hong Kong Liaison Meeting on the 15th National Games and the 12th N… read more