Financial Results for the Three Months Ended June 30

For more information, please contact:
Melissa Ng /David Hsieh at 212-752-3320
Daniel McAtee at 202-238-6360
Wing Yan Tong at 415-835-9315

July 31, 2009 -The Hong Kong Special Administrative Region Government announced today its financial results for the three months ended June 30, 2009.

Expenditure for the period April to June 2009 amounted to HK$62.9 billion (US$8.06 billion) and revenue HK$38.7 billion (US$4.96 billion), resulting in a deficit of HK$24.2 billion (US$3.1 billion).

A government spokesman said that the deficit for the period was mainly because some major types of revenue including salaries tax and profits tax were mostly received towards the end of a financial year.

The fiscal reserves stood at HK$470.2 billion (US$60.2 billion) as at June 30, 2009.