Update on dengue fever

     The Centre for Health Protection (CHP) of the Department of Health today (February 28) reported the latest number of dengue fever (DF) cases, and urged the public to maintain strict environmental hygiene, mosquito control and personal protective measures both locally and during travel.

     From February 21 to yesterday (February 27), the CHP recorded one imported DF case. The patient had travelled to Thailand during the incubation period.

      As of yesterday, six imported DF cases were recorded this year. A total of 161 cases of DF were recorded in 2024, including 156 imported and five local cases. In 2023, 62 imported cases of DF were recorded.

     According to the World Health Organization (WHO), the global incidence of DF has markedly increased over the past two decades, posing a substantial public health challenge. In 2023, ongoing transmissions, combined with an unexpected spike in DF cases, resulted in over 6.5 million cases and more than 7 300 dengue-related deaths reported in over 80 countries/territories. In 2024, the WHO recorded over 13 million cases, which was a record number of cases.

     Detailed information on the latest DF situation in Hong Kong, as well as neighbouring and overseas countries and areas, has been uploaded to the CHP website.

     Members of the public returning from areas affected by DF should apply insect repellent for 14 days upon arrival in Hong Kong. If feeling unwell, seek medical advice promptly and provide travel details to a doctor.

     The public should take heed of the following advice on mosquito control:
 

  • Thoroughly check all gully traps, roof gutters, surface channels and drains to prevent blockage;
  • Scrub and clean drains and surface channels with an alkaline detergent compound at least once a week to remove any deposited mosquito eggs;
  • Properly dispose of refuse, such as soft drink cans, empty bottles and boxes, in covered litter containers;
  • Completely change the water of flowers and plants at least once a week. The use of saucers should be avoided if possible;
  • Level irregular ground surfaces before the rainy season;
  • Avoid staying in shrubby areas; and
  • Take personal protective measures such as wearing light-coloured long-sleeved clothes and trousers, and apply insect repellent containing DEET to clothing or uncovered areas of the body when doing outdoor activities.

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     â€‹DEET-containing insect repellents are effective and the public should take heed of the tips below:
     

  • Read the label instructions carefully first;
  • Apply right before entering an area with risk of mosquito bites;
  • Apply on exposed skin and clothing;
  • Use DEET of up to 30 per cent for pregnant women and up to 10 per cent for children*;
  • Apply sunscreen first, then insect repellent; and
  • Reapply only when needed and follow the instructions.

     * For children who travel to countries or areas where mosquito-borne diseases are endemic or epidemic and where exposure is likely, those aged 2 months or above can use DEET-containing insect repellents with a DEET concentration of up to 30 per cent.

     The public should call 1823 in case of mosquito problems and may visit the following pages for more information: the DF page of the CHP and the Travel Health Service, the latest Travel Health Newstips for using insect repellents, and the CHP Facebook Page and YouTube Channel.




International Reserves and Foreign Currency Liquidity

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

     The Hong Kong Monetary Authority (HKMA) released today (February 28) the analytical data on the Hong Kong Special Administrative Region's foreign currency reserves and foreign currency liquidity as at the end of January 2025 (Annex). These data are published monthly in the Template on International Reserves and Foreign Currency Liquidity in accordance with the International Monetary Fund's Special Data Dissemination Standard (SDDS).

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

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



Residential mortgage survey results for January 2025

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

     The Hong Kong Monetary Authority announced the results of the residential mortgage survey for January 2025.
      
     The number of mortgage applications in January 2025 increased month-on-month by 3.3 per cent to 6 516.
      
     Mortgage loans approved in January 2025 decreased by 2.1 per cent compared with December 2024 to HK$25 billion. Among these, mortgage loans financing primary market transactions increased by 15.5 per cent to HK$10 billion and those financing secondary market transactions decreased by 11.7 per cent to HK$12.2 billion. Mortgage loans for refinancing decreased by 8.8 per cent to HK$2.9 billion.
      
     Mortgage loans drawn down during January 2025 increased by 17.6 per cent compared with December 2024 to HK$15.6 billion.
      
     The ratio of new mortgage loans priced with reference to HIBOR increased from 91.3 per cent in December 2024 to 93 per cent in January 2025. The ratio of new mortgage loans priced with reference to best lending rates decreased from 4.1 per cent in December 2024 to 3.4 per cent in January 2025.
      
     The outstanding value of mortgage loans increased month-on-month by 0.1 per cent to HK$1,872.9 billion at end-January 2025.
      
     The mortgage delinquency ratio stood at a low level of 0.12 per cent and the rescheduled loan ratio was unchanged at nearly 0 per cent.




Monetary Statistics for January 2025

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

     According to statistics published today (February 28) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.4 per cent in January 2025. Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 1.3 per cent and 1.5 per cent respectively in January. Renminbi deposits in Hong Kong increased by 6.5 per cent in January to RMB986.8 billion at the end of January, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,377.4 billion in January, compared with RMB1,401.6 billion in December. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.

     Total loans and advances decreased by 0.2 per cent in January. Among the total, loans for use in Hong Kong (including trade finance) decreased by 0.5 per cent, while loans for use outside Hong Kong increased by 0.6 per cent in January. The Hong Kong dollar loan-to-deposit ratio decreased to 75.7 per cent at the end of January from 77.1 per cent at the end of December, as Hong Kong dollar deposits increased while Hong Kong dollar loans decreased.

     Hong Kong dollar M2 and M3 both increased by 1.5 per cent in January, and both increased by 4.5 per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 decreased by 3.0 per cent in January while increased by 1.8 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 1.6 per cent in January. Compared to a year earlier, total M2 and total M3 both increased by 9.6 per cent.

     As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.




Interest rate for fifth interest payment of Silver Bond Series due 2025

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 28) the relevant per annum interest rate for the fifth interest payment of Silver Bond Series due 2025 (Issue Number 03GB2509R) (the Bonds) issued under the Retail Bond Issuance Programme of the Government Bond Programme.
      
     According to the Issue Circular dated August 9, 2022, for the Bonds, the fifth interest payment of the Bonds is scheduled to be made on March 14, 2025, and the relevant interest rate is scheduled to be determined and announced on February 28, 2025, as the higher of the prevailing Floating Rate and Fixed Rate.   
      
     On February 28, 2025, the Floating Rate and Fixed Rate are as follows:
 

Floating Rate: +1.82 per cent (Annex)
Fixed Rate: +4.00 per cent

 
     Based on the Floating Rate and Fixed Rate set out above, the relevant interest rate for the fifth interest payment is determined and announced as 4.00 per cent per annum.