SCST begins visit to Cascais
The Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, arrived in Cascais, Portugal, on the evening of October 28 (Cascais time) and began his itinerary yesterday (October 29, Cascais time). In the morning, together withthe President of theSports Federation and Olympic Committee of Hong Kong, China(SF&OC),Mr Timothy Fok, Mr Yeungexchanged views withvarious members oftheExecutive Council of theAssociation of National Olympic Committees (ANOC), including the ANOC President, Dr Robin Mitchell; the Secretary General, Mrs Gunilla Lindberg; the Vice-President for Africa, Mr MustaphaBerraf; the Vice-President forEurope, Mr Spyros Capralos; and Member for Asia Mrs Li Lingwei.
Attendingthe Executive Council Meetingalongside a delegation from the SF&OCin the afternoon, Mr Yeung made a presentation on the bid to host the 2026 ANOC General Assembly in Hong Kong. He illustrated that Hong Kong is the ideal place for hosting international events. Mr Yeung said that Hong Kong has a fair and mature legal system thanks to the successful implementation of the "one country, two systems" principle since the establishment of the Hong Kong Special Administrative Region, enabling the city to maintain its social stability. Hong Kong is also an Events Capital of Asia and the World's Meeting Place. As an international city, Hong Kong is widely connected with the rest of the world, which underlines another strengthof Hong Kong.
Mr Yeung added that Hong Kong has been actively advancing the development of sports in the community, supporting elite sports, promoting Hong Kong as a centre for major international sports events, enhancing sports professionalism and developing sports as an industry. In recent years, Hong Kong athletes have achieved impressive results in major international games. Mr Yeung also shared with the meeting the imminent commissioning of the Kai Tak Sports Park in the first quarter of 2025, making it thelargest sports infrastructure project inHong Kong'shistory.
Mr Yeung attended a reception hosted by the City of Cascais, during which he exchanged views with City Councillor (Sports and International Affairs) Mr Francisco Kreye and other leading figures in the world of sports, including the International Olympic Council President, Mr Thomas Bach.
Mr Yeung will continue his visit to Cascais, Portugal, today (October 30, Cascais time).
SCST begins visit to Cascais Source: HKSAR Government Press Releases
SCST begins visit to Cascais Source: HKSAR Government Press Releases
SCST begins visit to Cascais Source: HKSAR Government Press Releases
Monetary Statistics for September 2024
The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (October 31) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.8 per cent in September 2024. Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 0.9per cent and 0.6per cent respectively in September. In the year to end-September, total deposits and Hong Kong dollar deposits grew by 5.8per cent and 2.5per cent respectively. Renminbi deposits in Hong Kong increased by 0.2per cent in September to RMB1,016.3 billion at the end of September. The total remittance of renminbi for cross-border trade settlement amounted to RMB 1,267.2 billion in September, compared with RMB1,267.9 billion in August. 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 increased by 0.5per cent in September, while decreased by 2.1per cent in the year to end-September. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.5per cent and 0.8per cent respectively in September. The Hong Kong dollar loan-to-deposit ratio decreased to 78.4per cent at the end of September from 79.3per cent at the end of August, as Hong Kong dollar deposits increased while Hong Kong dollar loans decreased.
For the third quarter of 2024 as a whole, loans for use in Hong Kong (including trade finance) decreased by 0.8per cent after increasing by 0.3per cent in the previous quarter. Analysed by economic use, loans to stockbrokers increased, while loans to building, construction, property development and investment decreased.
Hong Kong dollar M2 and M3 both increased by 0.9per cent in September and both increased by 3.0per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 3.6per cent in September and increased by 3.2per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.6per cent in September. Compared to a year earlier, total M2 and total M3 both increased by 8.5per 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 2025 is as follows.
Reference Month |
Release Date |
January 2025 |
February 28, 2025 |
February 2025 |
March 31, 2025 |
March 2025 |
April 30, 2025 |
April 2025 |
May 30, 2025 |
May 2025 |
June 30, 2025 |
June 2025 |
July 31, 2025 |
July 2025 |
August 29, 2025 |
August 2025 |
September 30, 2025 |
September 2025 |
October 31, 2025 |
October 2025 |
November 28, 2025 |
November 2025 |
December 31, 2025 |
December 2025 |
January 30, 2026 |
