Hong Kong Economic and Trade Office, USA
Hong Kong

News Release - August 2018

Financial results for the four months ended July 31, 2018
August 31, 2018 - The Hong Kong Special Administrative Region Government announced today its financial results for the four months ended July 31, 2018.

Hong Kong Exchange Fund at US$531.3 billion
August 31, 2018 - The Hong Kong Monetary Authority (HKMA) announced today that the total assets of the Exchange Fund amounted to HK$4,144.4 billion (US$531.3 billion) as at July 31, 2018. This is HK$43.6 billion (US$5.5 billion) higher than that at the end of June 2018. Foreign currency assets increased by HK$15.4 billion (US$1.9 billion) and Hong Kong dollar assets increased by HK$28.2 billion (US$3.6 billion).

Hong Kong Talent List Released
August 28, 2018 - The Hong Kong Special Administrative Region Government promulgated today the first Talent List of Hong Kong. Aiming to attract quality people from around the world in a more effective and focused manner to support Hong Kong's development as a high value-added and diversified economy, the Talent List, which contains 11 professions, has been drawn up after extensive consultation with the stakeholders.

Technology Talent Scheme opens for application
August 22, 2018 - The Innovation and Technology Commission today launched the Technology Talent Scheme to nurture and bring together more technology talent on a pilot basis for five years. There are two initiatives under the scheme - the Postdoctoral Hub programme and the Reindustrialisation and Technology Training Programme (RTTP).

Unemployment rate remains at 2.8%
August 17, 2018 - According to the latest labor force statistics (i.e. provisional figures for May - July 2018) released today by the Census and Statistics Department of the Hong Kong Special Administrative Region Government, the seasonally adjusted unemployment rate stood at 2.8% in May - July 2018, same as that in April - June 2018. The underemployment rate increased from 1.0% in April - June 2018 to 1.1% in May - July 2018.

Chief Executive welcomes introduction of Regulations for Application of Residence Permit for Hong Kong, Macao and Taiwan Residents
August 16, 2018 - Hong Kong Chief Executive, Mrs Carrie Lam, today welcomed the Central Government’s announcement of the Regulations for Application of Residence Permit for Hong Kong, Macao and Taiwan Residents, and expressed deep gratitude for its continuous effort in introducing measures in the past year to assist Hong Kong residents studying, working, starting business and living on the Mainland.

Weak-side CU under Linked Exchange Rate System triggered
August 15, 2018 - The weak-side Convertibility Undertaking (CU) of HK$7.85 to US$1 under the Linked Exchange Rate system (LERS) was triggered this morning (August 15) during the New York trading hours. The HKMA sold US dollars (USD) for Hong Kong dollars (HKD) of HK$2.16 billion (US$276 million). The Aggregate Balance will reduce by the corresponding amount to HK$107.2 billion (US$13.7 billion) on August 16.

Second quarter GDP grows 3.5%
August 10, 2018 - The Hong Kong Special Administrative Region Government released today the Half-yearly Economic Report 2018, together with the preliminary figures on Gross Domestic Product (GDP) for the second quarter of 2018.

Hong Kong’s foreign currency reserves at US$431.9 billion
August 7, 2018 - The Hong Kong Monetary Authority (HKMA) announced today that the official foreign currency reserve assets of Hong Kong amounted to US$431.9 billion as at the end of July 2018, the same amount as with end-June 2018.

HKMA collaborates on consultation to explore opportunities of Global Financial Innovation Network
August 7, 2018 - The Hong Kong Monetary Authority (HKMA), in collaboration with 11 financial regulators and related organisations (note), announced today the initiative of the Global Financial Innovation Network (GFIN).

Government strengthens control on commercial possession of pre-Convention ivory and bans its import and re-export
August 1, 2018 - The Agriculture, Fisheries and Conservation Department (AFCD) of the Hong Kong Special Administrative Region Government reminded the public Step 2 of the three steps under the Protection of Endangered Species of Animals and Plants (Amendment) Ordinance 2018 (Amendment Ordinance) has come into effect today (August 1).



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