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People's Daily Online>>China Business

HK’s foreign reserves top $285 billion

(People's Daily Overseas Edition)

16:53, January 12, 2012

Edited and translated by People's Daily Online

The Hong Kong Monetary Authority declared on Jan. 9 that Hong Kong's official foreign exchange reserves had reached 285.4 billion U.S. dollars at the end of December of 2011, up 2.9 billion U.S. dollars compared to that of the end of November 2011.

This amount is eight times as large as the total amount of the currencies circulating in Hong Kong and accounts for about 55 percent of Hong Kong's M3 money supply.

The authority also declared on the same day that it will reopen the 10-year governmental bonds under the agency bond issuance plan, carry out the public bidding on Jan. 16 and start making settlement on Jan. 17.

The authority said that the bonds reopened this time will have a batch of 10-year undue bonds of 1.5 billion Hong Kong dollars for the bidding. This batch of bonds will expire on Aug. 4, 2021, and the annual interest rate will be 2.46 percent and the dividend will be paid once per six months.

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