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

Financial results for the 10 months ended January 31, 2020


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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


February 28, 2020 - The Hong Kong Special Administrative Region Government announced today its financial results for the 10 months ended January 31, 2020.

There was a surplus of HK$75.1 billion (US$9.6 billion) in the month of January, thereby bringing a cumulative year-to-date surplus of HK$25 billion (US$3.2 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). Expenditure for the 10-month period amounted to HK$461.9 billion (US$59.2 billion) and revenue HK$480.6 billion (US$61.6 billion).

The fiscal reserves stood at HK$1,195.9 billion (US$153.3 billion) as at January 31, 2020.

A government spokesperson said that the cumulative year-to-date surplus for the period was mainly due to the receipt of land premium, profits tax and stamp duties. Taking into account the forecast revenue and expenditure for the remaining two months, the deficit for the 2019-20 financial year is expected to be HK$37.8 billion (US$4.8 billion) and the fiscal reserves are estimated to be HK$1,133.1 billion (US$145.2 billion) as at the end of March 2020.


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