Author Archives: hksar gov

     The Environmental Protection Department (EPD) today (April 30) invited tenders for the provision of services for the treatment and recycling of washing machines.      The Producer Responsibility Scheme on… read more

     The Lands Department announced today (April 30) that in respect of the tender for the site New Kowloon Inland Lot No. 6576 at Kai Tak Area 4B Site 1, Kai Tak, Kowloon, which was awarded on March 27 to the successful tenderer, I… read more

     Following is the transcript of remarks by the Secretary for Security, Mr John Lee, at a media session after the Bills Committee on Fugitive Offenders and Mutual Legal Assistance in Criminal Matters Legislation (Amendment) … read more

     Hong Kong Customs yesterday (April 29) seized about 80 kilograms of suspected cocaine with an estimated market value of about $80 million at Tai Kok Tsui.

     During an anti-narcotics operation conducted in Tai Kok Tsui yesterday evening, Customs officers intercepted two men and found the batch of suspected cocaine inside two suitcases carried by them. The two men, aged 18 and 28, were then arrested.

     Investigation is ongoing.

     Along with two another serious narcotics cases detected earlier this month, Customs officers have seized about 421 kilograms of suspected cocaine in total with an estimated market value of over $400 million. Customs will continue to investigate whether the three cases are connected.

     Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

     Members of the public may report any suspected drug trafficking activities to the Customs’ 24-hour hotline 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk).

  

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

     The Hong Kong Monetary Authority (HKMA) announced today (April 30) that the total assets of the Exchange Fund amounted to HK$4,171.2 billion as at March 31, 2019, HK$5.8 billion higher than that at the end of February 2019. Foreign currency assets increased by HK$30.0 billion while Hong Kong dollar assets decreased by HK$24.2 billion.

     The rise in foreign currency assets was mainly due to income from foreign currency investments and an increase in unsettled purchases of securities, which were partly offset by the sale of US dollars under the Currency Board arrangements. The decline in Hong Kong dollar assets was mainly due to withdrawals of placements by Fiscal Reserves, which were partly offset by additional placements from HKSAR government funds and statutory bodies and an increase in market value of Hong Kong equities.

     The Currency Board Account shows that the Monetary Base at the end of March 2019 was HK$1,639.4 billion, decreased by HK$7.2 billion, or 0.4 per cent, from the end of February 2019. The decline was mainly due to a decrease in the balance of the banking system, which was partly offset by an increase in the outstanding amount of Certificates of Indebtedness.

     The amount of Backing Assets decreased by HK$1.1 billion, or 0.1 per cent, to HK$1,815.5 billion. The decrease was mainly due to the sale of US dollars under the Currency Board arrangements, which was partly offset by the issuance of Certificates of Indebtedness, and revaluation gains and interest from investments. The backing ratio increased from 110.33 per cent at the end of February 2019 to 110.74 per cent at the end of March 2019.

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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 April 2019, the scheduled dates for issuing the press releases are as follows: