Tag Archives: China

     Hong Kong Customs on February 27 mounted an anti-smuggling operation in the north-western waters of Hong Kong and detected a suspected case of using a river trade vessel to smuggle goods in the waters off Black Point. About 1.2 tonnes of suspected scheduled dried shark fins with an estimated market value of about $6.4 million were seized.

     During an anti-smuggling operation conducted in the above-mentioned waters on that day, Customs officers intercepted a river trade vessel heading towards Macao. After inspection, Customs officers found the batch of suspected scheduled dried shark fins deep within one of the containers on board the vessel.

     An investigation is ongoing.

     Under the Protection of Endangered Species of Animals and Plants Ordinance, any person found guilty of importing or exporting an endangered species without a required licence is liable to a maximum fine of $10 million and imprisonment for 10 years.

     Members of the public may report any suspected smuggling activities to Customs’ 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

    

The following is issued on behalf of the Hong Kong Monetary Authority:        The Hong Kong Monetary Authority, as representative of the Hong Kong Special Administrative Region Government, announced today (February 29) t… read more

     The Census and Statistics Department (C&SD) released today (February 29) the "Report on the Survey on Information Technology Usage and Penetration in the Business Sector for 2023".        The publ… read more

     The Government announced today (February 29) its financial results for the 10 months ended January 31, 2024.        There was a surplus of HK$41.4 billion in the month of January. Expenditure for the 10-mo… read more

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

     The Hong Kong Monetary Authority (HKMA) announced today (February 29) that the total assets of the Exchange Fund amounted to HK$4,046.5 billion as at January 31, 2024, HK$28.7 billion higher than that at the end of December 2023. Foreign currency assets increased by HK$37.3 billion while Hong Kong dollar assets decreased by HK$8.6 billion.

     The rise in foreign currency assets was mainly due to an increase in the month-end balances of unsettled purchase of securities. The decline in Hong Kong dollar assets was mainly due to mark-to-market revaluation of Hong Kong equities.

     The Currency Board Account shows that the Monetary Base at the end of January 2024 was HK$1,910.6 billion, increased by HK$14.4 billion, or 0.8 per cent, from the end of December 2023. The increase was mainly due to increases in the outstanding amount of Certificates of Indebtedness and the market value of Exchange Fund Bills and Notes outstanding.

     The amount of Backing Assets increased by HK$20.0 billion, or 1.0 per cent, to HK$2,119.7 billion at the end of January 2024. The increase was mainly attributable to the issuance of Certificates of Indebtedness and the interest from investments. The Backing Ratio increased from 110.73 per cent at the end of December 2023 to 110.94 per cent at the end of January 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 February 2024, the scheduled dates for issuing the press releases are as follows: