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<Budget>Exchange Fund to Transfer Total HKD150B to Capital Works Reserve Fund Over Next 2 Fiscal Yrs to Support Infra Development
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The Exchange Fund achieved record-breaking performance last year, delivering an investment income of HKD330 billion, said Paul Chan, Hong Kong's Financial Secretary. As at the end of last year, the total value of assets under the Exchange Fund exceeded HKD4.1 trillion, which would suffice to maintain monetary and financial stability in Hong Kong. On the premise that the Exchange Fund's function to maintain the stability and integrity of the local monetary and financial systems will not be compromised, Chan proposed, under the Exchange Fund Ordinance, transferring HKD75 billion in each of the coming two financial years, totaling HKD150 billion, from the Exchange Fund to the Capital Works Reserve Fund in support of the Northern Metropolis and other infrastructure projects. AAStocks Financial News |
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