According to the provisional results of a survey released today (June 12) by the Census and Statistics Department (C&SD), the index of industrial production for manufacturing industries as a whole decreased by 4.6% in the first … read more
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) released today (June 12) the key analytical accounts of the Exchange Fund at the end of May 2020.
Foreign assets, representing the external assets of the Exchange Fund, increased during the month by HK$9.3 billion to HK$3,617.9 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$1,709.5 billion.
Claims on the private sector in Hong Kong amounted to HK$231.0 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 June 2020, the scheduled dates for issuing the press releases are as follows:
| June 5 (Issued) |
SDDS International Reserves (Hong Kong’s Latest Foreign Currency Reserve Assets Figures) |
| June 12 |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| June 30 |
SDDS Template on International Reserves and Foreign Currency Liquidity |
| June 30 |
Exchange Fund Abridged Balance Sheet and Currency Board Account |
The following is issued on behalf of the Hong Kong Monetary Authority: The Hong Kong Monetary Authority (HKMA) announced today (June 12) the progress made in its handling of banking complaints received as at end-May 2020. Banking… read more
Regarding the appeal by organisations to hold a so-called “referendum on strike” on June 14, a spokesman for the Government today (June 12) called on all social welfare practitioners to display professionalism to ensure that services and users’ interests will not be affected by any strike.
Social welfare services have been seriously disrupted since January this year when coronavirus disease 2019 (COVID-19) began to strike the community. The Government has been providing financial support and supplies to social welfare service units, and has worked closely with non-governmental organisations (NGOs) to maintain welfare services as far as practicable to ensure that people in need are taken care of.
Of late, in the light of the latest epidemic situation, most social welfare services have resumed or will soon resume, but some will need to continue operation in a reduced mode until a further relaxation of social distancing.
The Government is appreciative of the social welfare sector’s dedication and perseverance in maintaining services. Such efforts notwithstanding, both NGOs and service users have reflected that more effort needs to be made because of the continued reduced availability of some services, and because some service users, such as elderly persons and persons with disabilities, need to re-learn skills that have been lost due to reduced training and exercises in the last few months. There has also been an increased demand for various services because of economic and social stresses such as heightened family tensions brought about by the continuing epidemic. Thus, any action that will reduce the supply of services will deprive the rights of the needy to receive such services.
The Government looks to the social welfare sector to display professionalism to ensure that services and users’ interests will not be affected during this trying period when the community is still fighting against the COVID-19 virus and having a high demand for social welfare services. read more
The effective exchange rate index for the Hong Kong dollar on Friday, June 12, 2020 is 107.7 (up 0.1 against yesterday’s index). read more