Financial Results for the Seven Months Ended October 31

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

November 30, 2009 - The Hong Kong Special Administrative Region Government announced today its financial results for the seven months ended October 31, 2009.

There was a surplus of HK$8 billion (US$1.02 billion) in October, thereby reducing the deficit for the seven months ended October 31, 2009 to HK$56.8 billion (US$7.28 billion). Expenditure for the period amounted to HK$161.5 billion (US$20.7 billion) and revenue HK$104.7 billion (US$13.42 billion).

A government spokesman said that the improved financial results in October were mainly due to the collection of profits tax.

The fiscal reserves stood at HK$437.6 billion (US$56.1 billion) as at October 31, 2009.