CSSA caseload for April 2022

     The overall Comprehensive Social Security Assistance (CSSA) caseload in April showed a drop of 1 384 cases, representing a decrease of 0.6 per cent compared with that of March, according to the latest CSSA caseload statistics released by the Social Welfare Department today (May 19).

     The total CSSA caseload at the end of April stood at 215 304 (see attached table), with a total of 299 544 recipients.

     Analysed by case nature, low-earnings cases registered a month-to-month decrease of 2.8 per cent to 2 122 cases. Old age cases dropped by 0.8 per cent to 122 436 cases. Single parent cases decreased by 0.4 per cent to 23 567 cases. Ill-health cases were down by 0.3 per cent to 26 924 cases. Permanent disability cases slightly decreased by 0.2 per cent to 17 430 cases.

     Unemployment cases decreased by 0.4 per cent on a month-to-month basis to 18 796 cases. The figure represented an increase of about 49.3 per cent in comparison with that of January 2020 when Hong Kong just started to fight against the COVID-19 pandemic. The average number of applications for unemployment cases in February to April 2022 was 532 per month, representing a decrease of 0.4 per cent from that in January to March 2022.



HAD distributes complimentary COVID-19 rapid test kits to households, cleansing workers and property management staff in Tuen Mun, Islands and North Districts (with photos)

     In light of positive test results for the COVID-19 virus from sewage samples collected in Tuen Mun, Islands and North Districts, the Home Affairs Department (HAD) said today (May 18) that the Tuen Mun District Office (TMDO), Islands District Office (IsDO) and North District Office (NDO) will distribute a total of about 273 000 COVID-19 rapid test kits to households, cleansing workers and property management staff living and working in the Districts.
 
    The TMDO and the IsDO distributed rapid test kits to households, cleansing workers and property management staff living and working in Terrace Concerto, Tai Hing Gardens Phase 1 and 2, Hong Tak Gardens, Greenland Garden, Chelsea Heights, Nerine Cove, Glorious Garden and The Sea Crest in Tuen Mun District and Caribbean Coast, Coastal Skyline and Seaview Crescent in Islands District for voluntary testing through the property management companies.
    
     The NDO today also started to distribute rapid test kits to households, cleansing workers and property management staff living and working in Tin Ping Estate, Hop Fung Building, Wo Fung House, The Cornwall, Ho King House, Fu Ho Mansion, Fu Yin Building, Po Hon Lau, Po Cheung Building, Po Luen Building, Kin Fung Building, San Wah Bank Building, Cheong Wah Building, Lok Fung Building, Tai Cheong House, Pun Yuen Building, May Lun Building, Luen Wo Centre, Luen Cheong Building, Louver Mansion, Fung King Building, Kam Loi House, Comfort Court, Yau Hing Building, 41-53 Wo Tai Street, 53-55 Wo Fung Street, 53-55 Luen Wo Road, 2-4, 14-16 and 17-35B Luen Cheong Street and 18-36B Luen Shing Street for voluntary testing through the property management companies.
    
     The HAD made the above arrangements in the hope of identifying infected persons early.
         
     Members of the public may refer to the demonstration video produced by the Centre for Health Protection (CHP) under the Department of Health (DH) via www.youtube.com/watch?v=yzFAUzTtmKk to learn how to use the rapid antigen test (RAT) kit.
         
     Persons testing positive through an RAT should take a photo of the test result and declare the result within 24 hours via the Declaration System for Individuals Tested Positive for COVID-19 Using Rapid Antigen Test (www.chp.gov.hk/ratp). If members of the public encounter difficulties in using the online platform, they can call the automated system at 183 6119 to register their identification document and telephone number. The CHP under the DH will contact the relevant person later to complete the report procedure. There is no need to declare negative test results.
         
     The Government appeals for the co-operation of members of the public to safeguard the health of themselves and their families by undergoing testing on a voluntary basis and fighting the virus together. The Government urges all individuals who are in doubt about their own health condition, or individuals with infection risks (such as individuals who visited places with epidemic outbreaks or had contact with cases that tested positive), to undergo testing promptly for early identification of infected persons to reduce the transmission risks of COVID-19.

Photo  Photo  Photo  


Analytical Accounts of Exchange Fund

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

     The Hong Kong Monetary Authority (HKMA) released today (May 13) the key analytical accounts of the Exchange Fund at the end of April 2022.

     Foreign assets, representing the external assets of the Exchange Fund, decreased during the month by HK$119.6 billion to HK$3,844.8 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$2,153.1 billion.

     Claims on the private sector in Hong Kong amounted to HK$307.7 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 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 May 2022, the scheduled dates for issuing the press releases are as follows:
 

May 6
(Issued)		 SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
May 13 SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
May 31 SDDS Template on International Reserves and Foreign Currency Liquidity
May 31 Exchange Fund Abridged Balance Sheet and Currency Board Account


Butterfly Beach temporarily closed

Attention TV/radio announcers:

Please broadcast the following as soon as possible:

     Here is an item of interest to swimmers.

     The Leisure and Cultural Services Department announced today (May 13) that Butterfly Beach in Tuen Mun District is temporarily closed until further notice for maintenance of shark prevention net. Red flag has been hoisted at the beach. Beachgoers are advised not to swim at the beach.



Chancellor appoints Dr. Swati Dhingra to the Monetary Policy Committee

News story

The Chancellor has today (12 May) announced that he has appointed Dr. Swati Dhingra as an external member of the MPC of the Bank of England.

  • Dr. Swati Dhingra has been appointed as an external member of the Monetary Policy Committee (MPC)

  • Swati Dhingra is an economics Professor at the London School of Economics and will succeed Michael Saunders when his second term ends

  • Her 3-year term will start on 9 August 2022

She will join the MPC on 9 August for a 3-year term, replacing current external member Michael Saunders who has been on the MPC since August 2016.

Swati Dhingra is an Associate Professor of Economics at the London School of Economics, specialising in international economics and applied microeconomics.

Chancellor of the Exchequer, Rishi Sunak said:

“Dr Swati Dhingra’s experience in international economics will bring valuable new expertise to the MPC. I am delighted to appoint her to this role and look forward to seeing her contribution to policymaking in the coming years.

“I would also like to thank Michael Saunders for all his work since he joined the Bank of England, and wish him the best in the next stage of his career.”

Andrew Bailey, Governor of the Bank of England, said:

“I am very pleased to be welcoming Dr Swati Dhingra to the MPC later this year. Her insights and perspective will be hugely beneficial to all of our discussions and we will benefit from her extensive research in international economics.

“Michael Saunders has been a great asset to the MPC and I would like to thank him for all his work on the committee. I wish him all the best for the future.”

Dr. Swati Dhingra said:

“I am very pleased that the Chancellor has appointed me to join the Monetary Policy Committee. The work of the Committee is of great importance as the UK faces an exceptional cost of living crisis amid the global challenges of the pandemic and the war. “It will be an honour to learn from the Bank’s vast expertise and regional visits, “to listen and to explain”, and to bring evidence to bear on the crucial policy decisions of the Committee.

Further information

About. Dr Swati Dhingra

  • Dr Swati Dhingra is an Associate Professor at the London School of Economics. She is an elected member of the Council of the Royal Economic Society. She is on the Editorial Board of the Review of Economic Studies, and is an Associate Editor for the Journal of International Economics.

  • Swati is a Research Associate on the Trade Programme at Centre for Economic Performance, and a Research Fellow of the Centre for Economic Policy Research.

  • Swati received her undergraduate degree from the University of Delhi, her MA from the Delhi School of Economics, and her MS and PhD from the University of Wisconsin-Madison.

  • Swati was a member of the UK’s Trade Modelling Review Expert Panel and LSE’s Economic Diplomacy Commission. She is currently a Director of The Royal Mint Museum and a member of the Steering Group for The Economy 2030 Inquiry.

About the MPC

  • The independent Monetary Policy Committee makes decisions about the operation of monetary policy. It comprises of the Governor of the Bank of England, the three Deputy Governors, one member of the Bank with responsibility for monetary policy and four external members who are appointed by the Chancellor.

  • External members may serve up to two three-year terms on the MPC.

  • The appointment of external members to the MPC is designed to ensure that the Committee benefits from thinking and expertise in addition to that gained inside the Bank. Each member of the MPC has expertise in the field of economics and monetary policy. They are independent and do not represent particular groups or areas.

About the appointment process

  • Dr. Swati Dhingra has been appointed following an open recruitment process run by HM Treasury. A panel comprising of Clare Lombardelli (Director General and Chief Economic Advisor, HM Treasury), Tom Josephs (Director of Fiscal, HM Treasury), Dame Colette Bowe (external member of the Financial Policy Committee) and Dame Kate Barker (external member of the MPC from 2001 to 2010) interviewed a number of candidates and made recommendations to the Chancellor, which informed his decision.

  • The Treasury is committed to appointing a diverse range of people to public appointments, including at the Bank of England. The Treasury continues to take active steps to attract the broadest range of suitable applicants for posts.

Published 12 May 2022