Update on dengue fever

     The Centre for Health Protection (CHP) of the Department of Health today (May 30) 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 May 23 to yesterday (May 29), the CHP recorded three imported DF cases. The patient had travelled to Thailand (two cases) and the Philippines (one case) respectively during the incubation periods.
 
     Investigations by the CHP revealed that the two imported cases from Thailand were epidemiologically linked, involving a 44-year-old male patient and a 9-year-old girl patient with good past health. The former developed fever and headache since May 24, and the latter developed fever and rash on the same day. They attended Union Hospital on May 25 and were admitted on the same day. They have been in stable condition.
     
     The two patients travelled to Thailand with four other people from May 18 to 23. They had outdoor activities in a rural area, and the two patients recalled mosquito bites there. The four travel companions, who are currently asymptomatic, are under medical surveillance.

     As of yesterday, 25 imported DF cases have been recorded so far 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, over 6.5 million cases and more than 7 300 dengue-related deaths were reported in over 80 countries/territories. In 2024, the WHO recorded over 14 million cases, which was a record number.

     In neighboring areas, Indonesia, Malaysia, Thailand and Vietnam have each recorded over 10 000 cases so far this year, and Singapore also recorded over 2 000 cases. Meanwhile, according to the Guangdong Provincial Center for Disease Control and Prevention, Guangdong Province has recorded a total of eight local cases this year in Foshan and Zhongshan, since the first local case this year was reported in Foshan in March.

     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.

     â€‹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.




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 (May 30) that the total assets of the Exchange Fund amounted to HK$3,973.2 billion as at April 30, 2025, HK$5.7 billion lower than that at the end of March 2025. Foreign currency assets decreased by HK$21.1 billion while Hong Kong dollar assets increased by HK$15.4 billion.

     The decline in foreign currency assets was mainly due to withdrawals of Fiscal Reserves placements, which was partly offset by an increase in the month‑end balances of unsettled purchase of securities and interest income from investments. The rise in Hong Kong dollar assets was mainly due to an increase in placements with banks, which was partly offset by mark-to-market revaluation of Hong Kong equities.

     The Currency Board Account shows that the Monetary Base at the end of April 2025 was HK$1,982.8 billion, increased by HK$5.6 billion, or 0.3per cent, from the end of March 2025. The increase was mainly due to the amortisation of discount on Exchange Fund Bills and Notes issued and increase in the outstanding amount of Certificates of Indebtedness.

     The amount of Backing Assets increased by HK$7.7 billion, or 0.4 per cent, to HK$2,193.4 billion at the end of April 2025. The increase was mainly attributable to interest income from investments and the issuance of Certificates of Indebtedness, which were partly offset by mark-to-market revaluation of investments. The Backing Ratio increased from 110.55 per cent at the end of March 2025 to 110.62 per cent at the end of April 2025.

****************************************************************

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

May 8
 (Issued)
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
 
May 14
 (Issued)
SDDS Analytical Accounts of the Central Bank
 (Analytical Accounts of the Exchange Fund)
 
May 30 SDDS Template on International Reserves and
Foreign Currency Liquidity
 
May 30 Exchange Fund Abridged Balance Sheet and
Currency Board Account
 



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 (May 30) the analytical data on the Hong Kong Special Administrative Region's foreign currency reserves and foreign currency liquidity as at the end of April 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).
 
****************************************************************
 
     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 May 2025, the scheduled dates for issuing the press releases are as follows:
      

May 8
(Issued)
SDDS International Reserves
(Hong Kong’s Latest Foreign Currency Reserve Assets Figures)
May 14
(Issued)
SDDS Analytical Accounts of the Central Bank
 (Analytical Accounts of the Exchange Fund)
May 30 SDDS Template on International Reserves and
Foreign Currency Liquidity
May 30 Exchange Fund Abridged Balance Sheet and
Currency Board Account



Financial results for month ended April 30, 2025

     The Government announced today (May 30) its financial results for April 2025, the first month of the current financial year.

     Expenditure and revenue for the first month amounted to HK$63.4 billion and HK$38.5 billion respectively, resulting in a deficit of HK$18.9 billion after taking into account HK$6.1 billion received from issuance of Government Bonds and repayment of HK$0.1 billion principal on Government Bonds.

     A Government spokesperson said that the deficit in April 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 fiscal reserves stood at HK$635.4 billion as at April 30, 2025.

     Detailed figures are shown in Tables 1 and 2.

TABLE 1. CONSOLIDATED ACCOUNT (Note 1)
 

  Month ended
April 30, 2025
HK$ million
Revenue 38,457.9
Expenditure (63,446.5)
   
Deficit before issuance and
repayment of Government Bonds
(24,988.6)
   
Proceeds received from
issuance of Government Bonds
6,098.9
   
Repayment of Government Bonds* (50.4)
   
Deficit after issuance and
repayment of Government Bonds
(18,940.1)
   
Financing  
      Domestic  
          Banking Sector (Note 2) 16,723.5
          Non-Banking Sector 2,216.6
      External
         
Total 18,940.1
* Being repayment of principal on Government Bonds and does not include the associated interest and other expenses.

Government Debts as at April 30, 2025 (Note 3)
    HK$306,963 million
Debts Guaranteed by Government as at April 30, 2025 (Note 4)
    HK$126,268 million

TABLE 2. FISCAL RESERVES
 

  Month ended
April 30, 2025
HK$ million
Fiscal Reserves at start of period 654,316.8
Consolidated Deficit after issuance and
repayment of Government Bonds
(18,940.1)
   
Fiscal Reserves at end of period (Note 5) 635,376.7

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 April 30, 2025, was HK$218,575 million.

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

3. The Government Debts, with proceeds credited to the Capital Works Reserve Fund, comprise:

(i) the Green Bonds (equivalent to HK$195,978 million as at April 30, 2025) issued under the Government Sustainable Bond Programme. They were denominated in US dollars (US$9,950 million with maturity from January 2026 to January 2053), euros (4,580 million euros with maturity from February 2026 to November 2041), Renminbi (RMB34,000 million with maturity from June 2025 to July 2054) and Hong Kong dollars (HK$42,000 million with maturity from May 2025 to October 2026);

(ii) the Infrastructure Bonds (equivalent to HK$56,244 million as at April 30, 2025) issued under the Infrastructure Bond Programme. They were denominated in Renminbi (RMB15,000 million with maturity from December 2025 to November 2034) and Hong Kong dollars (HK$40,230 million with maturity from November 2025 to March 2045); and

(iii) the Silver Bonds with nominal value of HK$54,741 million (with maturity in October 2027 and may be redeemed before maturity upon request from bond holders) issued under the Infrastructure Bond Programme.

     They do not include the outstanding bonds with nominal value of HK$169,712 million and alternative bonds with nominal value of US$1,000 million (equivalent to HK$7,759 million as at April 30, 2025) 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$96,212 million, which may be redeemed before maturity upon request from bond holders), bonds with nominal value of HK$1,500 million were repaid upon maturity on May 16, 2025; bonds with nominal value of HK$67,021 million will mature within the period from June 2025 to April 2026 and the rest within the period from May 2026 to May 2042.

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 the Loan Guarantee Scheme for Cross-boundary Passenger Transport Trade, the Loan Guarantee Scheme for Battery Electric Taxis and the Loan Guarantee Scheme for Travel Sector launched in 2023.

 5. Includes HK$249,932 million, being the balance of the Land Fund held in the name of "Future Fund", for long-term investments up to December 31, 2030. The Future Fund also includes HK$4,800 million, being one-third of the actual surplus in 2015-16 as top-up.




Residential Mortgage Survey Results for April 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 April 2025.

     The number of mortgage applications in April decreased month-on-month by 7.8 per cent to 7 795.

     Mortgage loans approved in April increased by 2.4 per cent compared with March to HK$25.3 billion. Among these, mortgage loans financing primary market transactions decreased by 7.5 per cent to HK$9.3 billion and those financing secondary market transactions increased by 17.6 per cent to HK$13.7 billion. Mortgage loans for refinancing decreased by 23.5% to HK$2.3 billion. 

     Mortgage loans drawn down during April increased by 7.7 per cent compared with March to HK$17.1 billion. 

     The ratio of new mortgage loans priced with reference to HIBOR increased from 90.4 per cent in March to 91.8 per cent in April. The ratio of new mortgage loans priced with reference to best lending rates decreased from 3.2 per cent in March to 2.3 per cent in April.

     The outstanding value of mortgage loans increased month-on-month by 0.2 per cent to HK$1,881.9 billion at end-April. 

     The mortgage delinquency ratio stood at a low level of 0.13 per cent and the rescheduled loan ratio was unchanged at nearly 0 per cent.