Hong Kong’s Exchange Fund posts record 9-month gain of US$28.8 billion as markets rallied

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Lawmakers asked whether the fund could give more to address the government’s deficit, but HKMA’s CEO urged sticking with an existing formula.

The government’s budget deficit stood at HK$183.9 billion in the first five months of the current financial year beginning in April, according to government data.“The Exchange Fund delivered its payment to the government based on a formula of the average return of the past six years of investment returns,” Yue said.“This works well as it will give a more stable annual payment to the government instead of ups and downs every year due to the volatile performance of the Exchange Fund.

Hong Kong’s Exchange Fund posts record 9-month gain of US$28.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong KongUnited States

Topics: Exchange Fund Hong Government Return Record Investment Returns Year First Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-04 @ 11:05:24 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 299 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 43 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23456246

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