Financial results for Nine Months Ended December 31, 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

 

January 31, 2011 - The Hong Kong Special Administrative Region Government announced today its financial results for the nine months ending December 31, 2010.

There was a surplus of HK$41.8 billion (US$5.35 billion) in the month of December, thereby bringing a surplus of HK$59 billion (US$7.56 billion) up to end of December, 2010. Expenditure for the nine-month period amounted to HK$220.2 billion (US$28.23 billion) and revenue HK$279.2 billion (US$35.79 billion).

A government spokesman said that the surplus in December was mainly due to the receipt of HK$33.8 billion (US$4.33 billion) investment income on fiscal reserves. 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$579.3 billion (US$74.26 billion) as at December 31, 2010.