Hong Kong Economic and Trade Office, USA
Hong Kong
News Release



Financial results for the six months ended
September 30, 2019

 



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Melissa Ng in New York City: (212) 752 3320
Daniel McAtee in Washington, D.C.: (202) 238 6360
Wing Yan Tong in San Francisco: (415) 835 9315

 




October 31, 2019 - The Hong Kong Special Administrative Region Government announced today its financial results for the six months ended September 30, 2019.

Expenditure for the period April to September 2019 amounted to HK$281.7 billion (US$36.1 billion) and revenue HK$180 billion (US$23 billion), resulting in a cumulative year-to-date deficit of HK$95.4 billion (US$12.2 billion) after receipt of net proceeds of HK$7.8 billion (US$1 billion) from issuance of green bonds under the Government Green Bond Programme (Green Bond) and repayment of institutional notes of HK$1.5 billion (US$192 million).

A government spokesperson said that the cumulative year-to-date deficit for the period was mainly due to the fact that some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.

The fiscal reserves stood at HK$1,075.5 billion (US$137.8 billion) as at September 30, 2019.

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