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

     The Hong Kong Monetary Authority (HKMA) announced today (January 7) that the official foreign currency reserve assets of Hong Kong amounted to US$424.6 billion as at the end of December 2018 (end-November 2018: US$423.2 billion) (Annex).

     Including unsettled foreign exchange contracts, the foreign currency reserve assets of Hong Kong at the end of December 2018 amounted to US$417.4 billion (end-November 2018: US$416.0 billion).

     The total foreign currency reserve assets of US$424.6 billion represent about seven times the currency in circulation or 46 per cent of Hong Kong dollar M3. 

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

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     The Hong Kong Monetary Authority (HKMA), as representative of the Hong Kong Special Administrative Region Government (HKSAR Government), announces today (January 7) that a tender of 10-year Government Bonds (Bonds) under the Institutional Bond Issuance Programme will be held on January 16 (Wednesday), for settlement on January 17 (Thursday).
 
     A total of HK$1.5 billion 10-year Bonds will be tendered.  The Bonds will mature on January 17, 2029 and will carry interest at the rate of 1.97% per annum payable semi-annually in arrears.
 
     Under the Institutional Bond Issuance Programme, tender is open only to Recognized Dealers which are appointed as Primary Dealers.  Anyone wishing to apply for the Bonds on offer can do so through any of the Primary Dealers on the current published list, which can be obtained from the Government Bond Programme's website at www.hkgb.gov.hk.  Each tender must be for an amount of HK$50,000 or integral multiples thereof.
 
     Tender results will be published on the HKMA's website, Government Bond Programme's website, the Reuters screen (HKGBINDEX), and Bloomberg (GBHK <GO>) not later than 3pm on the tender day.
 
HKSAR Government Institutional Bond Issuance Programme tender information
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     Tender information of 10-year Government Bonds under the Institutional Bond Issuance Programme:
 

 
     Price/Yield Table of the new Government Bonds at tender for reference* only:
 

 
 
* Disclaimer

     The information provided here is for reference only. Although extreme care has been taken to ensure that the information provided is accurate and up-to-date, the HKMA does not warrant that all, or any part of, the information provided is accurate in all respects. You are encouraged to conduct your own enquiries to verify any particular piece of information provided on it.  The HKMA shall not be liable for any loss or damage suffered as a result of any use or reliance on any of the information provided here.

     A Hong Kong resident employer and his company that employed four illegal workers were jailed and fined at Shatin Magistrates' Courts on January 4.
 
     During a joint operation conducted by the Immigration Department (ImmD), the Hong Kong Police Force and the Labour Department codenamed "Champion" on November 8, 2017, enforcement officers raided a restaurant in Tsim Sha Tsui. Four female Indonesian illegal workers were arrested for working as waitresses. The Hong Kong resident employer of the four illegal workers was also arrested.
 
     The illegal workers were jailed by Shatin Magistrates' Courts earlier. The Hong Kong resident employer was charged at Shatin Magistrates' Courts on January 4 with four counts of being an employer of a person who was not lawfully employable as he did not take all practicable steps to ascertain whether the applicants were lawfully employable prior to employment. He pleaded guilty to the charges and was sentenced to nine weeks' imprisonment for each count. Parts of the sentences are to run consecutively, making a total of 18 weeks' imprisonment. In addition, the company holding the restaurant was also charged with four counts of employing a person not lawfully employable and was fined $22,000 for each count, making a total fine of $88,000.
 
     The ImmD spokesman reiterated that it is a serious offence to employ people who are not lawfully employable. The maximum penalty is imprisonment for three years and a fine of $350,000. The High Court has laid down sentencing guidelines that the employer of an illegal worker should be given an immediate custodial sentence. According to the court sentencing, employers must take all practicable steps to determine whether a person is lawfully employable prior to employment. Apart from inspecting a prospective employee's identity card, the employer has the explicit duty to make enquiries regarding the person and ensure that the answers would not cast any reasonable doubt concerning the lawful employability of the person. The court will not accept failure to do so as a defence in proceedings. It is also an offence if an employer fails to inspect the job seeker's valid travel document if the job seeker does not have a Hong Kong permanent identity card. The maximum penalty for failing to inspect such a document is imprisonment for one year and a fine of $150,000.

     The effective exchange rate index for the Hong Kong dollar on Monday, January 7, 2019 is 104.3 (down 0.1 against last Saturday's index).

      The effective exchange rate index for the Hong Kong dollar on Saturday, January 5, 2019 was 104.4 (down 0.2 against last Friday's index).

     A spokesman for the Leisure and Cultural Services Department announced today (January 7) that a new service point for Mobile Library 12 will be set up at the carpark of Kam Tsin Village Ho Tung School in Sheung Shui from January 14 (Monday). The opening hours of the new service point will be from 10am to 1pm every alternate Monday (except public holidays).
 
     In connection with the new service point, the visiting schedule of the existing service point located adjacent to Wah Min House, Wah Sum Estate in Fanling will be changed from January 14 with the new opening hours from 2.45pm to 6pm every alternate Monday (except public holidays).
 
     In addition, the mobile library will undergo routine maintenance from January 21 to February 2, during which the service will be suspended. The affected service points are Kam Tsin Village in Sheung Shui; Cheong Shing Court, Wah Sum Estate and Ka Fuk Estate in Fanling; Kwong Fuk Estate in Tai Po; Lei Muk Shue Estate, Tsuen King Circuit Playground, Cheung Shan Estate, Bayview Garden and Sham Tseng Market Carpark in Tsuen Wan; Kwai Luen Estate and Tai Wo Hau Estate in Kwai Chung; and Fu Cheong Estate in Sham Shui Po.
 
     Readers are welcome to use other public libraries and renew library materials by telephoning 2698 0002 or 2827 2833, or via www.hkpl.gov.hk. For enquiries about Mobile Library 12 services, please call 2479 1055.