Financial Results for the 11 Months Ended February 28, 2010

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

March 31, 2010 - The Hong Kong Special Administrative Region Government announced today its financial results for the 11 months ended February 28, 2010.

There was a deficit of HK$0.9 billion (US$115.38 million) in the month of February, thereby bringing the net surplus down to HK$47.0 billion (US$6.02 billion) for the 11-month period that ended in February 2010. Expenditure for the period amounted to HK$249.9 billion (US$32.03 billion) and revenue HK$296.9 billion (US$38.06 billion).

A government spokesman said that the February figures had not reflected major expenditure items such as funding support for the West Island Line and payment for Sichuan Reconstruction.

The fiscal reserves stood at HK$541.4 billion (US$69.41 billion) as at February 28, 2010.