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 (November 30) the analytical data on the Hong Kong Special Administrative Region's foreign currency reserves and foreign currency liquidity as at the end of October 2022 (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).
 
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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 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 November 2022, the scheduled dates for issuing the press releases are as follows:
 

November 7
(Issued)
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
November 14  
(Issued)
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
November 30 SDDS Template on International Reserves and Foreign Currency Liquidity
November 30 Exchange Fund Abridged Balance Sheet and Currency Board Account



Monetary statistics for October 2022

The following is issued on behalf of the Hong Kong Monetary Authority:
 
     According to statistics published today (30 November) by the Hong Kong Monetary Authority, total deposits with authorized institutions decreased by 0.3 per cent in October 2022. Among the total, Hong Kong dollar deposits decreased by 1.4 per cent while foreign currency deposits increased by 0.8 per cent, mainly reflecting fund flows of corporates. In the year to end-October, total deposits rose by 0.4 per cent while Hong Kong dollar deposits decreased by 1.9 per cent. Renminbi deposits in Hong Kong increased by 3.2 per cent in October to RMB884.8 billion at the end of October. The total remittance of renminbi for cross-border trade settlement amounted to RMB738.1 billion in October, compared with RMB886.5 billion in September.  It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.  
      
     Total loans and advances decreased by 1.2 per cent in October, and decreased by 1.9 per cent in the year to end-October.  Among the total, loans for use in Hong Kong (including trade finance) decreased by 1.0 per cent in October and loans for use outside Hong Kong decreased by 1.7 per cent. The Hong Kong dollar loan-to-deposit ratio increased to 90.8 per cent at the end of October from 90.1 per cent at the end of September, as Hong Kong dollar deposits decreased by a larger extent than Hong Kong dollar loans.
      
     Hong Kong dollar M2 and M3 both decreased by 1.3 per cent in October and were both lower by 2.2 per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 decreased by 4.9 per cent in October, and decreased by 15.1 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both decreased by 0.4 per cent in October. Compared to a year earlier, total M2 and total M3 both rose by 1.2 per cent.
      
     As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand as well as business and investment-related activities, caution is required when interpreting the statistics. 
 
Release Schedule of Monetary Statistics in Hong Kong
 
     The monthly release schedule of monetary statistics in Year 2023 is as follows.
 

Reference Month Release Date
January 2023 February 28, 2023
February 2023 March 31, 2023
March 2023 April 28, 2023
April 2023 May 31, 2023
May 2023 June 30, 2023
June 2023 July 31, 2023
July 2023 August 31, 2023
August 2023 September 29,  2023
September 2023 October 31, 2023
October 2023 November 30, 2023
November 2023 December 29, 2023
December 2023 January 31, 2024



SEE visits Government Laboratory (with photos)

     The Secretary for Environment and Ecology, Mr Tse Chin-wan, today (November 29) visited the Government Laboratory to learn more about the department's work and meet with staff.
 
     Upon arrival at the Government Laboratory Headquarters, Mr Tse first met with the Government Chemist, Dr Lee Wai-on, and the directorate staff of the department to receive a briefing on the laboratory's major work which includes providing analytical, investigatory and advisory services to support bureaux and departments' work in law and order, public health and safety, environmental protection, government revenue and consumers' interests.
 
     Accompanied by Dr Lee, Mr Tse then paid a visit to the Analytical and Advisory Services Division to learn more about their work and current challenges. The Division provides examination services and expert advice regarding food safety, environmental pollution, waste discharge and other aspects for investigative, analytic and evaluation purposes to protect public health.
 
     Later, Mr Tse proceeded to the Controlled Drugs Sections of the Forensic Science Division and gained a better understanding on how their professional staff assist law enforcement agencies by providing comprehensive controlled drug examination services, intelligence information and statistics on abused drugs and related training to law enforcement officers. At the Physical Sciences Section, he was briefed on their services to law enforcement agencies on forensic work in the areas of physical examinations such as traffic accident reconstructions and forensic video analysis.
 
     Mr Tse said that the laboratory has all along been providing the community with professional analytical, forensic and advisory services. He was pleased to learn that to meet the rapid technological advancements in recent years, the department has been broadening the scope of service provision, strengthening the expertise of professional staff, putting forward measurement science and related standards, developing new inspection techniques and introducing high-efficiency modern scientific instruments. He praised colleagues for their dedicated efforts and encouraged them to continue to enhance their services.
 
     With the increasing local demand for analytical and forensic testing services, the Government plans to centralise most of the laboratory's facilities in different locations by relocating them to the proposed joint-user government building in Tseung Kwan O with the aim of tackling the department's challenges in arranging work spaces and installing new instruments. Mr Tse expects that the relocation will enable better consolidation of resources and create a synergistic effect which will further strengthen the laboratory's testing capabilities and operation efficiency.

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Hong Kong Heritage Museum to showcase over 100 artefacts of ancient Chinese women from Nanjing Museum (with photos)

     "The Hong Kong Jockey Club Series: Women and Femininity in Ancient China – Treasures from the Nanjing Museum" exhibition will be open to the public starting from tomorrow (November 30) at the Hong Kong Heritage Museum (HKHM). The selected exquisite artefacts from the Nanjing Museum include the daily necessities and accessories of ancient Chinese women; the embroidery, paintings and artefacts created by talented ancient women; as well as paintings depicting women by famous literati in the past. Visitors can learn more about the fashionable demeanour, wisdom and lifestyle of ancient Chinese women through the exhibition.

     The opening ceremony of the exhibition was held today (November 29). Addressing the ceremony, the Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, said that the exhibition had showcased 118 selected exquisite artefacts from the Nanjing Museum. It was very rare to have 21 grade-one national treasures to be displayed in Hong Kong for the first time. These exhibits spanning across several dynasties and covering many aspects of daily life showcased the virtue, beauty and wisdom of ancient Chinese women. Through appreciating the rich and diversified lifestyles of ancient Chinese women, visitors could gain insights into the developments of Chinese society. The national treasures had been interpreted with a new mindset in this exhibition, making a comparison between the images of ancient and modern women to create a dialogue and inspire visitors to think and understand more about Chinese culture.

  Other officiating guests attending the ceremony included the Vice Director of the Nanjing Museum, Mr Wang Qizhi; the Executive Director, Charities and Community of the Hong Kong Jockey Club (HKJC), Dr Gabriel Leung; the Deputy Director of Leisure and Cultural Services (Culture), Ms Eve Tam; and the Museum Director of the HKHM, Ms Fione Lo.

     The exhibition is composed of four parts. The first part surrounds the change of fashions in hair styles, make-up and clothing of ancient women. The second part focuses on the daily living necessities and accessories to enable visitors to explore the experience of women in different social classes. The third part is a collection of paintings, embroideries and artefacts created by talented ancient Chinese women in different dynasties which demonstrates their talent and ingenuity. The fourth part is paintings of women by artists which allow visitors to explore the stories of these legendary women.

    Highlight exhibits include a grade-one national treasure, a 13-metre-long Qing dynasty handscroll "Ancient court ladies at leisure". This silk painting guides viewers through more than 20 activity sites, such as bamboo forests, gardens, corridors and terraces, showcasing the variety of leisure activities of ancient women. The painting is like a pictorial guide to ancient entertainment. Other not-to-be-missed exhibits include the painting "Li Duanduan" by Tang Yin, one of the four painting masters of the Ming dynasty, which tells the story of Tang poet Cui Ya and the famous courtesan Li Duanduan; "Lady holding a fan" hanging scroll by famous Shanghai School painter Ren Xiong in the late Qing dynasty showing the beauty of an ancient lady; "Flowers and butterflies" hanging scroll created by female painter Ma Quan in the Qing dynasty; a golden court crown decorated with a gemstone worn by a Qing dynasty noblewoman, who was awarded an aristocratic title, on formal occasions; and the embroidery "American actress – Beecher", a classic work created by the "needle sage", the late Qing dynasty embroidery master Shen Shou.
 
     The HKHM has specifically created the session of "Women of Our City" to respond to the exhibition. Through sharing the fascinating stories of four incredible and inspiring Hong Kong women, namely eminent image director Tina Liu; world-renowned cyclist Sarah Lee; radio host Bonnie Wong (Ah Jeng); and probationary fire station officer Scarlett Yiu, and showcasing the museum collections of pop culture, visitors can explore the images of contemporary females in Hong Kong.

     "The Hong Kong Jockey Club Series: Women and Femininity in Ancient China – Treasures from the Nanjing Museum" exhibition is one of the programmes celebrating the 25th anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR). It will run from November 30, 2022, to February 27, 2023, at the HKHM (1 Man Lam Road, Sha Tin). For details of the exhibition and the admission arrangements, please visit the website at www.heritagemuseum.gov.hk/en_US/web/hm/exhibitions/data/exid274.html or call 2180 8188 for enquiries.

     The exhibition is jointly presented by the Leisure and Cultural Services Department and the Nanjing Museum, jointly organised by the HKHM and the Nanjing Museum, and under the exclusive sponsorship of the HKJC. It is one of the many initiatives supported by the HKJC's approved donation of $630 million to the HKSAR Government to mark the 25th anniversary of the establishment of the HKSAR, demonstrating that the HKJC is resolute in pursuing its purpose of acting continuously for the betterment of society, all in support of creating stronger communities together.

     In order to comply with the Prevention and Control of Disease (Requirements and Directions) (Business and Premises) Regulation (Cap. 599F) and relevant requirements of administrative instructions, visitors are required to scan the "LeaveHomeSafe" venue QR code with their mobile phones/other mobile devices before being allowed to enter the museums under the management of the LCSD. In accordance with the Prevention and Control of Disease (Vaccine Pass) Regulation (Cap. 599L) and relevant requirements of administrative instructions, members of the public entering indoor venues under the management of the LCSD must comply with the relevant requirements of the Vaccine Pass. According to the current requirement on the Vaccine Pass, all persons with their Vaccine Pass QR codes displayed in red are not allowed to enter museums under the management of the LCSD while patrons holding amber codes are allowed to enter the premises with valid Vaccine Pass.

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Four persons sentenced for violating Prevention and Control of Disease Regulation

     Four persons were sentenced by the Magistrates' Courts today (November 29) for violating the Prevention and Control of Disease Regulation (Cap. 599A) (the Regulation).

     The first case involved a 70-year-old man who was earlier issued with a compulsory quarantine order. Before the expiry of the quarantine order, he left the place of quarantine on April 22, 2022. He was charged with contravening sections 32(1) and 32(3) of the Regulation and was sentenced to imprisonment for seven days, suspended for 12 months by the Eastern Magistrates' Courts today.

     The second case involved a 66-year-old man, who was earlier issued with a compulsory quarantine order. Before the expiry of the quarantine order, he left the place of quarantine on May 7 and 8, 2022. He was charged with two counts of contravening sections 32(1) and 32(3) of the Regulation and was sentenced to imprisonment for 14 days, suspended for 12 months, for each of the two charges, with the sentences to run concurrently, by the Eastern Magistrates' Courts today.

    The third case involved a 52-year-old woman, who earlier tested positive for COVID-19 and was issued with an isolation order. Before the end of the isolation period, she left the place of isolation on August 13, 2022. She was charged with contravening sections 32(1) and 32(3) of the Regulation. She was sentenced to imprisonment for 14 days, suspended for 12 months and was fined $5,000 by the Kwun Tong Magistrates' Courts today.

     The fourth case involved a 41-year-old man, who earlier tested positive for COVID-19 and was issued with an isolation order. Before the end of the isolation period, he left the place of isolation and removed his electronic wristband on August 15, 2022. He was charged with contravening sections 23(1), 23(4), 23(5) and 32(1) and 32(3) of the Regulation. He was sentenced to imprisonment for seven days, suspended for 12 months and was fined $10,000 by the Kwun Tong Magistrates' Courts today.

     Under section 32 of the Regulation, a person shall not, knowing that he or she is a contact or is infected with a specified infectious disease, expose other persons to the risk of infection by the person's presence or conduct in any public conveyance or any street, public place, place of entertainment or assembly, club or hotel. Under section 23 of the Regulation, a person under isolation must comply with the conditions of the isolation order, including wearing the electronic wristband and refraining from cutting it during the specified isolation period. Offenders are subject to a maximum fine of $10,000 and imprisonment for six months. The Government will not tolerate such a violation and reminds the public again to comply with the relevant regulations.

     â€‹â€‹The spokesman reiterated that co-operation and support by members of the public play a critical role in the anti-epidemic work. They must strictly observe relevant requirements in order to fight the pandemic and minimise the risk of transmission in the community.