Financial Results for the Five Months Ended August 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

September 30, 2009 - The Hong Kong Special Administrative Region Government announced today its financial results for the five months ended August 31.

Expenditure for the period April to August 2009 amounted to HK$113.9 billion (US$14.6 billion) and revenue HK$63.4 billion (US$8.12 billion), resulting in a deficit of HK$50.5 billion (US$6.47 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$443.9 billion (US$56.91 billion) as at August 31.