Financial Results for the Eight Months Ended November 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

 

January 3, 2011 - On December 31, 2010, the Hong Kong Special Administrative Region Government (HKSARG) announced its financial results for the eight months ended November 30, 2010.

There was a surplus of HK$21.5 billion (US$2.75 billion) in the month of November, thereby bringing a net surplus of HK$17.2 billion (US$2.2 billion) up to end of November, 2010. Expenditure for the eight-month period amounted to HK$195.7 billion (US$25.08 billion) and revenue HK$212.9 billion (US$27.29 billion).

A HKSARG spokesman said that the surplus in November was mainly due to the collection of profits tax. The revised estimates for the current financial year will be published along with the 2011-12 Budget on February 23, 2011.

The fiscal reserves stood at HK$537.5 billion (US$68.91 billion) as at November 30, 2010.