HK sees 49.1 bln HK dollars surplus in January

A 49.1 billion HK dollars surplus was recorded in Hong Kong government's financial results for January, resulting in a 47.9 billion HK dollars surplus for the financial year's first 10 months, said the Financial Services & the Treasury Bureau on Friday.

The surplus was mainly due to the receipt of land premiums, and salaries and profits taxes. Taking into account the projected revenue and expenditure towards year's end, the revised estimate for the 2009-10 financial year, as announced in the Budget on Feb. 24, is a 13.8 billion HK dollars surplus.

Spending for the 10-month period ending Jan. 31 was 227.8 billion HK dollars and revenue was 275.7 billion HK dollars.

Fiscal reserves stood at 542.2 billion HK dollars at the end of January. (One U.S. dollars equals 7.76 HK dollars)

Source: Xinhua