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

     The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by China Construction Bank (Asia) Corporation Limited relating to fraudulent websites and internet banking login screens, which have been reported to the HKMA. A hyperlink to the press release is available on the HKMA website.
      
     The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks' websites to carry out transactions. They will not ask customers for sensitive personal information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
      
     Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the websites or login screens concerned, should contact the bank using the contact information provided in the press release, and report the matter to the Police by contacting the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.

     The Census and Statistics Department (C&SD) released today (February 25) the external merchandise trade statistics for January 2025. In January 2025, the values of Hong Kong's total exports and imports of goods both recorded year-on-year increases, at 0.1% and 0.5% respectively. Due to the difference in timing of the Lunar New Year holidays, it is more appropriate to analyse the trade figures for January and February taken together in making year-on-year comparison.
 
     In January 2025, the value of total exports of goods increased by 0.1% over a year earlier to $389.1 billion, after a year-on-year increase by 5.2% in December 2024. Concurrently, the value of imports of goods increased by 0.5% over a year earlier to $387.1 billion in January 2025, after a year-on-year decrease by 1.1% in December 2024. A visible trade surplus of $2.1 billion, equivalent to 0.5% of the value of imports of goods, was recorded in January 2025.
 
     Comparing the three-month period ending January 2025 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods increased by 3.1%. Meanwhile, the value of imports of goods increased by 0.9%.
 
Analysis by country/territory
 
     Comparing January 2025 with January 2024, total exports to Asia as a whole grew by 0.4%. In this region, increases were registered in the values of total exports to some major destinations, in particular Vietnam (+73.9%), Singapore (+41.6%), Japan (+14.3%) and the Philippines (+13.7%). On the other hand, decreases were recorded in the values of total exports to India (-22.3%), Malaysia (-17.7%) and the mainland of China (the Mainland) (-2.1%).
 
     Apart from destinations in Asia, decreases were registered in the values of total exports to some major destinations in other regions, in particular the Netherlands (-31.8%) and the United Kingdom (-8.8%). On the other hand, an increase was recorded in the value of total exports to the USA (+14.8%).
 
     Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular France (+141.9%), Malaysia (+52.7%), Vietnam (+48.4%), the United Kingdom (+42.6%) and Taiwan (+38.0%). On the other hand, decreases were recorded in the values of imports from Korea (-18.8%), the USA (-16.2%) and the Mainland (-8.9%).
 
     Comparing the three months ending January 2025 with the three months ending January 2024, increases were registered in the values of total exports to some major destinations, in particular Vietnam (+55.5%), Singapore (+37.8%) and the Mainland (+5.5%). On the other hand, decreases were recorded in the values of total exports to the United Arab Emirates (-33.9%) and India (-28.2%).
 
     Over the same period of comparison, increases were registered in the values of imports from some major suppliers, in particular Malaysia (+37.8%), Taiwan (+25.5%), the United Kingdom (+21.0%) and France (+20.7%). On the other hand, decreases were recorded in the values of imports from Vietnam (-5.0%) and the Mainland (-3.9%).
 
Analysis by major commodity
 
     Comparing January 2025 with January 2024, increases were registered in the values of total exports of some principal commodity divisions, in particular "office machines and automatic data processing machines" (by $15.0 billion or +40.6%). On the other hand, decreases were registered in the values of total exports of "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $4.1 billion or -2.2%) and "telecommunications and sound recording and reproducing apparatus and equipment" (by $4.1 billion or -8.1%).
 
     Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular "office machines and automatic data processing machines" (by $13.9 billion or +52.7%). On the other hand, a decrease was registered in the value of imports of "telecommunications and sound recording and reproducing apparatus and equipment" (by $8.2 billion or -16.0%).
 
     Comparing the three months ending January 2025 with the three months ending January 2024, increases were registered in the values of total exports of some principal commodity divisions, in particular "office machines and automatic data processing machines" (by $45.0 billion or +40.2%). On the other hand, a decrease was registered in the value of total exports of "telecommunications and sound recording and reproducing apparatus and equipment" (by $13.9 billion or -9.3%).
 
     Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular "electrical machinery, apparatus and appliances, and electrical parts thereof" (by $41.9 billion or +7.8%). On the other hand, a decrease was registered in the value of imports of "telecommunications and sound recording and reproducing apparatus and equipment" (by $16.6 billion or -10.5%).
 
Commentary
 
     A Government spokesman said that the value of merchandise exports recorded a moderated year-on-year increase in January 2025 due in part to the different timing of the Lunar New Year. Exports to the United States rose notably, and those to many Asian markets saw increases of varying degree. Meanwhile, those to the Mainland and the European Union fell back. Nonetheless, it would be more meaningful to examine the figures for January and February combined, when available, to assess the underlying situation.
 
     Looking ahead, while uncertainties in the external environment, in particular escalating trade protectionism, would continue to weigh on Hong Kong's export performance, steady global economic growth, together with the Central Government's various measures to boost the Mainland economy, would provide support. The Government will monitor the situation closely.
 
Further information
 
     Table 1 presents the analysis of external merchandise trade statistics for January 2025. Table 2 presents the original monthly trade statistics from January 2022 to January 2025, and Table 3 gives the seasonally adjusted series for the same period.
 
     The values of total exports of goods to 10 main destinations for January 2025 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.
 
     Tables 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for January 2025.
 
     All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for January 2025 will be released in mid-March 2025.
 
     The January 2025 issue of "Hong Kong External Merchandise Trade" contains detailed analysis on the performance of Hong Kong's external merchandise trade in January 2025 and will be available in early March 2025. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020005&scode=230).
 
     Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section of the C&SD (Tel: 2582 4691).

     The Advisory Committee on Sports Dispute Resolution of the Department of Justice (DoJ), chaired by the Deputy Secretary for Justice, Dr Cheung Kwok-kwan, met with several Members of the Legislative Council (LegCo) today (February 25) to discuss the way forward for developing sports dispute resolution in Hong Kong.
      
     During the meeting, Dr Cheung provided an overview of the latest developments in sports dispute resolution in Hong Kong. Both sides exchanged views on the establishment of a pilot scheme on sports dispute resolution. Dr Cheung expressed his heartfelt gratitude to the LegCo Members at the meeting for their strong support of the development of sports dispute resolution in Hong Kong.
      
     Dr Cheung said that Hong Kong enjoys unique advantages under "one country, two systems", and has strong potential to develop into a regional or even an international centre for sports dispute resolution. As announced in "The Chief Executive's 2024 Policy Address", the Government will actively promote the establishment of a sports dispute resolution system to leverage Hong Kong's strengths in dispute resolution. To this end, the DoJ established the Advisory Committee last month to expedite related work.
      
     He said that the Advisory Committee is carrying out in full swing preparatory work for the pilot scheme on sports dispute resolution, and is actively engaging with major stakeholders. It met with representatives of the Sports Federation & Olympic Committee of Hong Kong, China last week to exchange views.
      
     Dr Cheung added that as the next step, the DoJ will identify suitable organisations to administer the pilot scheme and provide relevant technological services, as well as formulate a set of standard rules for sports dispute resolution. He expressed hope that the pilot scheme will be launched in the second half of this year to address the practical needs of local sports disputes, thereby creating new momentum and advantages for Hong Kong.

     The Financial Secretary, Mr Paul Chan, will deliver the 2025-26 Budget at the Legislative Council at 11am tomorrow (February 26). The full text of the Budget Speech and other related materials will be released simultaneously on the Budget website (www.budget.gov.hk). Members of the public may access the information online.
 
     The public can also watch the live broadcast of the speech delivery by the Financial Secretary at the Legislative Council, the Budget-related press conference, a television forum and a radio programme on the above-mentioned website.
 
     Copies of the Budget Speech and a leaflet highlighting key Budget proposals will be available for collection at the 20 Home Affairs Enquiry Centres (HAECs) of the Home Affairs Department after the delivery of Budget.
 
* 20 HAECs:
 
Central & Western Home Affairs Enquiry Centre
Eastern Home Affairs Enquiry Centre
Southern Home Affairs Enquiry Centre
Wan Chai Home Affairs Enquiry Centre
Kowloon City Home Affairs Enquiry Centre
Kwun Tong Home Affairs Enquiry Centre
Sham Shui Po Home Affairs Enquiry Centre
Wong Tai Sin Home Affairs Enquiry Centre
Yau Tsim Mong Home Affairs Enquiry Centre
Islands Home Affairs Enquiry Centre (Cheung Chau)
Islands Home Affairs Enquiry Centre (Mui Wo)
Islands Home Affairs Enquiry Centre (Tung Chung)
Kwai Tsing Home Affairs Enquiry Centre
North Home Affairs Enquiry Centre
Sai Kung Home Affairs Enquiry Centre
Sha Tin Home Affairs Enquiry Centre
Tai Po Home Affairs Enquiry Centre
Tsuen Wan Home Affairs Enquiry Centre
Tuen Mun Home Affairs Enquiry Centre
Yuen Long Home Affairs Enquiry Centre
 
     Copies of the highlights leaflet will also be available for collection at the following places after the delivery of Budget.
 
* 16 government office buildings:
 
Queensway Government Offices, Admiralty
Immigration Tower, Wan Chai
Revenue Tower, Wan Chai
Wanchai Tower, Wan Chai
North Point Government Offices
Cheung Sha Wan Government Offices
Ho Man Tin Government Offices
Lai Chi Kok Government Offices
Mongkok Government Offices
Trade and Industry Tower, Kowloon City
To Kwa Wan Government Offices
West Kowloon Government Offices, Yau Ma Tei
Sha Tin Government Offices
Tai Hing Government Offices, Tuen Mun
Tai Po Government Offices
Tsuen Wan Government Offices
 
* Seven public libraries:
 
Hong Kong Central Library, Causeway Bay
City Hall Public Library, Central
Kowloon Public Library, Kowloon City
Ping Shan Tin Shui Wai Public Library, Yuen Long
Sha Tin Public Library
Tsuen Wan Public Library
Tuen Mun Public Library
 
* Five museums:
 
Hong Kong Museum of Art
Hong Kong Heritage Museum
Hong Kong Museum of History
Hong Kong Science Museum
Hong Kong Space Museum
 
* Offices of the Labour Department (10 Offices of the Labour Relations Division and 13 Job Centres):
 
14 Taikoo Wan Road, Taikoo Shing
Queensway Government Offices, Admiralty
Western Magistracy Building
North Point Government Offices
Trade and Industry Tower, Kowloon City
Mongkok Government Offices
Cheung Sha Wan Government Offices
Treasury Building, Cheung Sha Wan
Kowloon East Government Offices
Tower 1, Millennium City 1, Kwun Tong
Kwai Hing Government Offices
Tsuen Wan Government Offices
Sha Tin Government Offices
Landmark North, Sheung Shui
Tuen Mun Central Square
Victory Building, Tuen Mun
Tin Ching Amenity and Community Building, Tin Shui Wai
Yat Tung Shopping Centre, Tung Chung
 
 
* 67 shopping centres in public housing estates:
 
Hong Kong and Islands
————————
Siu Sai Wan Plaza, Chai Wan
Wan Tsui Shopping Centre, Chai Wan
Oi Tung Shopping Centre, Shau Kei Wan
Hing Tung Shopping Centre, Shau Kei Wan
Stanley Plaza
Shek Pai Wan Shopping Centre, Aberdeen
Wah Fu (II) Commercial Complex, Aberdeen
Fu Tung Plaza, Tung Chung
 
Kowloon
———
Lei Yue Mun Plaza, Yau Tong
Yau Lai Shopping Centre, Yau Tong
Kai Tin Shopping Centre, Lam Tin
Tsui Ping North Shopping Circuit, Kwun Tong
Shun Lee Commercial Centre, Kwun Tong
Sau Mau Ping Shopping Centre, Kwun Tong
On Kay Commercial Centre, Ngau Tau Kok
Lok Wah Commercial Centre, Ngau Tau Kok
Tsz Wan Shan Shopping Centre
Choi Wan Commercial Complex, Ngau Chi Wan
Chuk Yuen Plaza, Wong Tai Sin
Temple Mall South, Wong Tai Sin
Fung Tak Shopping Centre, Diamond Hill
Lok Fu Place, Wang Tau Hom
Shek Kip Mei Shopping Centre, Sham Shui Po
Hoi Fu Shopping Centre, Mong Kok
Oi Man Plaza, Ho Man Tin
Homantin Plaza, Ho Man Tin
 
New Territories East
———————
Choi Yuen Plaza, Sheung Shui
Ching Ho Shopping Centre, Sheung Shui
Cheung Lung Lane, Sheung Shui
Queens Hill Shopping Centre, Fanling
Fu Shin Shopping Centre, Tai Po
Tai Wo Plaza, Tai Po
Fu Tip Shopping Centre, Tai Po
Heng On Commercial Centre, Ma On Shan
Yan On Shopping Centre, Ma On Shan
Mei Tin Shopping Centre, Sha Tin
Shek Mun Shopping Centre, Sha Tin
Hin Keng Shopping Centre, Sha Tin
Kwong Yuen Shopping Centre, Sha Tin
Sha Kok Commercial Centre, Sha Tin
Mei Lam Commercial Centre, Sha Tin
Wo Che Plaza, Sha Tin
Pok Hong Shopping Centre, Sha Tin
Yue Tin Court Commercial Centre, Sha Tin
Shui Chuen O Plaza, Sha Tin
Chun Yeung Shopping Centre, Sha Tin
TKO Gateway, Tseung Kwan O
Po Lam Shopping Centre, Tseung Kwan O
TKO Spot, Tseung Kwan O
 
New Territories West
———————-
Cheung Fat Plaza, Tsing Yi
Lei Muk Shue Shopping Centre, Tsuen Wan
Kwai Chung Shopping Centre, Kwai Chung
T Town, Tin Shui Wai
Tin Ching Shopping Centre, Tin Shui Wai
Tin Shui Shopping Centre, Tin Shui Wai
Tin Yan Shopping Centre, Tin Shui Wai
Ping Yan Shopping Centre, Tin Shui Wai
Long Ping Commercial Centre, Yuen Long
Long Shin Shopping Centre, Yuen Long
Hung Fuk Shopping Centre, Hung Shui Kiu
Butterfly Plaza, Tuen Mun
Leung King Plaza, Tuen Mun
Tai Hing Commercial Centre, Tuen Mun
Siu Hong Commercial Centre, Tuen Mun
Yan Tin Shopping Centre, Tuen Mun
Ching Tin Shopping Centre, Tuen Mun
Wo Tin Shopping Centre, Tuen Mun

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

     Exchange Fund Bills tender results:
 

 
*"Pro rata ratio" refers to the average percentage of allotment with respect to each tender participant's tendered amount at the "highest yield accepted" level.
 
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     Hong Kong Monetary Authority tenders to be held in the week beginning March 3, 2025: