Hong kong's official foreign currency reserves stand at us$416.3 billion in june 2024, maintaining transparency with monthly press releases
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (July 5) that the official foreign currency reserve assets of Hong Kong amounted to US$416.3 billion as at the end of June 2024 (end-May 2024: US$417.2 billion) (Annex).
Including unsettled foreign exchange contracts, the foreign currency reserve assets of Hong Kong at the end of June 2024 amounted to US$416.0billion (end-May 2024: US$417.0 billion).
The total foreign currency reserve assets of US$416.3 billion represent over five times the currency in circulation or about 39 per cent of HongKong 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 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 July 2024, the scheduled dates for issuing the press releases are as follows:
July 5
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
July 12
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
July 31
SDDS Template on International Reserves and
Foreign Currency Liquidity
July 31
Exchange Fund Abridged Balance Sheet and
Currency Board Account
Source: AI-generated images
Health bureau open to proposals for new medical programmes in hong kong amid rising demand for healthcare services
In response to media enquiries on the interest of tertiary institutions to offer medical programmes, a spokesman for the Health Bureau (HHB) gave the following response today (July 8):
The HHB is aware that a number of local tertiary institutions have publicly indicated their interest in offering medical programmes. The HHB keeps an open mind towards any initiatives conducive to nurturing local medical students and increasing healthcare manpower supply. In terms of healthcare manpower training, it is essential that any new medical programme must secure sufficient manpower and facilities for teaching and training to ensure teaching quality, and must contribute to increasing the supply of local doctors for meeting the rising demand for healthcare services in Hong Kong.
The Government will consider medical programme proposals from any tertiary institutions in accordance with the established mechanisms for local tertiary institutions to offer programmes. In reviewing medical programme proposals, the HHB will take into account factors such as the development needs of the healthcare system, the local healthcare manpower projection, the demand and supply of teaching and training manpower, and the relevant teaching and training facilities including teaching hospitals. The HHB will also discuss with relevant bureaux on ancillaries such as the development of tertiary institutions, financial resources required, and land supply for university campuses before making further consideration. The introduction of medical programmes and provision of training facilities involve enormous public money. The programmes have to be accredited and recognised by the Medical Council of Hong Kong so that the graduates can possess the qualifications to become registered local medical practitioners.
Since the Hong Kong University of Science and Technology (HKUST) expressed its interest in introducing medical programmes last year, the HHB and the HKUST have all along maintained communication. The HHB has so far received from the HKUST a few pages on the initial ideas and slideshows introducing the initial ideas. The HHB has learned from the HKUST that the plan is still in its planning stage, while detailed proposals are still being formulated. At present, the HKUST has yet to formally submit detailed proposals of the relevant plan to the Government. It is too early to comment on the relevant plan at the current stage.
Source: AI-generated images
