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HKMA Releases Exchange Fund Data for July 2024

HK

HKMA Releases Exchange Fund Data for July 2024
HK

HK

HKMA Releases Exchange Fund Data for July 2024

2024-08-14 16:30 Last Updated At:08-16 02:05

Analytical Accounts of the Exchange Fund

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

The Hong Kong Monetary Authority (HKMA) released today (August 14) the key analytical accounts of the Exchange Fund at the end of July 2024.

Foreign assets, representing the external assets of the Exchange Fund, increased during the month by HK$24.3 billion to HK$3,479.0 billion.

The Monetary Base, comprising Certificates of Indebtedness, Government‑issued currency notes and coins in circulation, the balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HK$1,923.2 billion.

Claims on the private sector in Hong Kong amounted to HK$297.1billion.

Foreign liabilities amounted to HK$29.1 billion.

The analytical accounts of the Exchange Fund are released in accordance with the International Monetary Fund's Special Data Dissemination Standard (SDDS) and are referred to as the Analytical Accounts of the Central Bank under SDDS (Annex).

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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 August 2024, the scheduled dates for issuing the press releases are as follows:

August 7

(Issued)

SDDS International Reserves

(Hong Kong's Latest Foreign Currency Reserve Assets Figures)

August 14

SDDS Analytical Accounts of the Central Bank

(Analytical Accounts of the Exchange Fund)

August 30

SDDS Template on International Reserves and

Foreign Currency Liquidity

August 30

Exchange Fund Abridged Balance Sheet and

Currency Board Account

Source: AI-generated images

Source: AI-generated images

Certificate presentation ceremony for Self-Certification Scheme for Application for Water Supply for Catering Business Trades held today

The Water Supplies Department (WSD) today (January 21) held a certificate presentation ceremony for the Self-Certification Scheme for Application for Water Supply for Catering Business Trades to commend about 30 licensed plumbers (LPs) for their track record of performance and to recognise them as the first batch of LPs eligible to participate in the Scheme. The Director of Water Supplies, Mr Roger Wong, presented certificates to the LPs attending the ceremony.

Mr Wong stated that the WSD continuously optimises the procedures for water supply applications and streamlines workflow to facilitate high-water-consumption industries (including the catering business), thereby creating a more business-friendly environment. The WSD launched the Scheme at the end of last year, allowing LPs with a track record of performance to self-certify the plumbing works for the catering businesses they are responsible for, further streamlining the water supply application process for those businesses. The Scheme has shifted from a one-size-fits-all regulatory approach targeting a minority of underperformers to one that encourages continuous excellence among participants, which helps improve the overall standard of the plumbing industry. Details and a list of LPs eligible to participate in the Scheme have been published on the WSD website.

Moreover, the WSD established the Digital Water Office in June last year, enhancing water supply operations and customer services through the development of digital infrastructure and smart technologies, providing better and more environmentally friendly water supply services. One of the initiatives includes the launch of an intelligent electronic service platform that assists plumbers in automatically generating plumbing diagrams for the catering business that meet the WSD's requirements, thereby expediting the related water supply application process. The electronic service platform is scheduled to be launched in the early second quarter.

In response to the Development Bureau's encouragement of a mindset that facilitates development and collaborative co-operation while streamlining workflows for related public services, the WSD will review the implementation and operation of the Scheme before considering expanding it to other categories of water supply applications.

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