The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA) released today (January 31) the analytical data on the Hong Kong Special Administrative Region's foreign currency reserves and foreign currency liquidity as at the end of December 2019 (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.
 
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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 January 2020, the scheduled dates for issuing the press releases are as follows:
 

     The Government Gazette published on January 31, 2020, contains a Legal Notice to the effect that the Acting Secretary for Financial Services and the Treasury has authorised a change in the rate of interest payable on Tax Reserve Certificates. From February 3, 2020, the new annual rate of interest will be 0.3167 per cent against the current rate of 0.3667 per cent, i.e. the new rate will be $0.0264 per month per $100.

     Tax Reserve Certificates bear simple interest and interest is calculated monthly (including part of a month) from the date of purchase to the date of payment of tax.

     Interest is only credited when certificates are used to pay tax and no interest is due where the principal value of a certificate is repaid to its holder.

     The rate of interest payable on Tax Reserve Certificates is periodically revised in line with the market trend. Currently, it is reviewed every month based on the average prevailing interest rate for the 12-month time deposit for $100,000 to $499,999 offered by the three note-issuing banks. 

     The new rate will apply to all certificates purchased on or after February 3, 2020. Certificates purchased before February 3, 2020, will continue to earn interest at the rates prevailing on their respective purchase dates. Below is a summary of the interest rates for the past periods:
 

 
     This is always subject to the general rule that interest ceases to accrue after 36 complete months.

     The Government announced today (January 31) its financial results for the nine months ended December 31, 2019.
 
     Expenditure for the period from April to December 2019 amounted to HK$412.4 billion and revenue HK$356.1 billion, resulting in a cumulative year-to-date deficit of HK$50 billion after receipt of net proceeds of HK$7.8 billion from issuance of green bonds under the Government Green Bond Programme (Green Bond) and repayment of institutional notes of HK$1.5 billion.
 
     A government spokesperson said that the cumulative year-to-date deficit for the period was mainly due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year. The revised estimates for the current financial year will be published along with the 2020-21 Budget on February 26, 2020.
 
     The fiscal reserves stood at HK$1,120.8 billion as at December 31, 2019.
 
     Detailed figures are shown in Tables 1 and 2.
 
TABLE 1. CONSOLIDATED ACCOUNT (Note 1)
 

Government Debts as at December 31, 2019 (Note 3)
     HK$7,789 million
Debts Guaranteed by Government as at December 31, 2019 (Note 4)
     HK$28,641.6 million

TABLE 2. FISCAL RESERVES
 

Notes:
1. This Account consolidates the General Revenue Account and the following eight Funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at December 31, 2019, was HK$138,586 million.

2. Includes transactions with the Exchange Fund and resident banks.

3. These were the green bonds of US$1,000 million (equivalent to HK$7,789 million as at December 31, 2019) which were denominated in US dollars with maturity in May 2024. They do not include the outstanding bonds with nominal value of HK$100,135 million and alternative bonds with nominal value of US$2,000 million (equivalent to HK$15,578 million as at December 31, 2019) issued under the Government Bond Programme (with proceeds credited to the Bond Fund). Of these bonds under the Government Bond Programme (including Silver Bonds with nominal value of HK$8,835 million, which may be redeemed before maturity upon request from bond holders), bonds with nominal value of HK$6,700 million were repaid upon maturity on January 13, 2020; bonds with nominal value of HK$25,067 million and alternative bonds with nominal value of US$1,000 million (equivalent to HK$7,789 million as at December 31, 2019) will mature within the period from February 2020 to December 2020 and the rest within the period from January 2021 to March 2034.

4. Includes guarantees provided under the SME Loan Guarantee Scheme launched in 2001, the Special Loan Guarantee Scheme launched in 2008, the SME Financing Guarantee Scheme launched in 2012 and a commercial loan of the Hong Kong Science and Technology Parks Corporation.

5. Includes HK$219,730 million being the balance of the Land Fund held in the name of "Future Fund" as from January 1, 2016, for long-term investments initially up to December 31, 2025. As from July 1, 2016, the Future Fund also includes HK$4,800 million, being one-third of the actual surplus in 2015-16 as top-up.

     In view of the cold weather, the Home Affairs Department has opened 18 temporary shelters today (January 31) for people in need of the service.
      
     The temporary shelters will remain open during the daytime tomorrow (February 1) when the cold weather warning is still in force.
 
     To ensure that cold shelter users can rest in a quiet and undisturbed environment, members of the public or agencies wishing to make donations to shelter users are requested to register with the staff of the shelter first. Donors will then be directed to place the donated items at a specified indoor location. The staff will help notify the shelter users to collect the items on their own.
 
     Anyone seeking temporary refuge or with any questions about the donation arrangements at the cold shelters may call the department's hotline 2835 1473 for more information.
 
     The 18 temporary cold shelters are located at:
 
Hong Kong Districts:
——————–
 
Central and Western:
Sai Ying Pun Community Complex Community Hall
3/F, Sai Ying Pun Community Complex, 2 High Street, Sai Ying Pun
 
Eastern:
Causeway Bay Community Centre
3/F, 7 Fook Yum Road, Causeway Bay
 
Southern:
Lei Tung Community Hall
Lei Tung Estate, Ap Lei Chau
 
Wan Chai:
Wan Chai Activities Centre
LG/F, Wan Chai Market, 258 Queen’s Road East, Wan Chai
 
Kowloon Districts:
——————
 
Kowloon City:
Hung Hom Community Hall
1/F, Kowloon City Government Offices, 42 Bailey Street, Hung Hom
 
Kwun Tong:
Lam Tin (West) Estate Community Centre
71 Kai Tin Road, Lam Tin
 
Sham Shui Po:
Nam Cheong District Community Centre
1 Cheong San Lane, Sham Shui Po
 
Wong Tai Sin:
Tsz Wan Shan (South) Estate Community Centre
45 Wan Wah Street, Tsz Wan Shan
 
Yau Tsim Mong:
Henry G Leong Yaumatei Community Centre
60 Public Square Street, Yau Ma Tei
 
New Territories:
—————-
 
Islands:
Tung Chung Community Hall
G/F, Tung Chung Municipal Services Building,
39 Man Tung Road, Tung Chung
 
Kwai Tsing:
Tai Wo Hau Estate Community Centre
15 Tai Wo Hau Road, Kwai Chung
 
North:
Cheung Wah Community Hall
Cheung Wah Estate, Fanling
 
Sai Kung:
Hang Hau Community Hall
G/F, Sai Kung Tseung Kwan O Government Complex,
38 Pui Shing Road, Hang Hau, Tseung Kwan O
 
Sha Tin:
Lung Hang Estate Community Centre
Lung Hang Estate, Sha Tin
 
Tai Po:
Tai Po Community Centre
2 Heung Sze Wui Street, Tai Po
 
Tsuen Wan:
Lei Muk Shue Community Hall
G/F, Hong Shue House, Lei Muk Shue Estate, Tsuen Wan
 
Tuen Mun:
Butterfly Bay Community Centre
Butterfly Estate (near Tip Sum House), Tuen Mun
 
Yuen Long:
Long Ping Community Hall
Long Ping Estate, Yuen Long

     The Government of the Hong Kong Special Administrative Region releases a monthly summary of its financial results and debts in compliance with the International Monetary Fund's Special Data Dissemination Standard.
 
     The timetable for the release of the monthly data for the 2020-21 financial year is as follows:
 

     In addition to press releases, the summary of financial results and debts will also be published on the Treasury's website (www.try.gov.hk).