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HK records fiscal reserves reach 781 bln HKD in December 2014

Xinhua, January 30, 2015 Adjust font size:

The Hong Kong government said on Friday that its fiscal reserves stood at 781.2 billion HK dollars (about 100.8 billion U.S. dollars) as of Dec. 31, 2014.

There was a surplus of 12.6 billion HK dollars in December, thereby bringing a cumulative year-to-date surplus of 35.2 billion HK dollars or 25.5 billion HK dollars after repayment of bonds and notes, the government said in its financial results for the nine months ended on Dec. 31, 2014.

The 9.7-billion-HK dollar repayment of institutional notes was made in July 2014. Expenditure for the nine-month period amounted to 284.7 billion HK dollars and revenue 319.9 billion HK dollars.

A government spokesperson said the surplus in December was mainly due to the collection of profits tax and salaries tax. The revised estimates for the current financial year will be published along with the 2015-16 Budget on Feb. 25. Endi