Hong Kong recorded a fiscal surplus of HKD 69.8 billion in the first ten months of this fiscal year.
The Hong Kong Special Administrative Region Government recently announced the financial situation for the first ten months of this fiscal year: as of January 31, 2014, the accumulated surplus for the first ten months of this fiscal year was HKD 69.8 billion; total expenditure was HKD 328.2 billion, and revenue was HKD 398 billion; fiscal reserves amounted to HKD 803.7 billion.
Hong Kong's loan growth in January is unprecedented in many years.
In January, the loan growth in Hong Kong's banking sector reached an annualized rate of 44.5%. The acting chairman of the Hong Kong Association of Banks, Li Wing-kui, stated that this growth rate has not been seen in many years, and he believes the industry will pay attention to the situation and cooperate with regulatory requirements. As for whether the loan growth will affect loan pricing, Li Wing-kui believes it is too early to say, as it depends on the conditions of loans and deposits, as well as the cost of funding.
Sun Hung Kai Properties announces latest performance.
The latest interim results for the 2013/2014 fiscal year announced by Sun Hung Kai Properties show that for the six months ending December 31, 2013, the company recorded a profit of HKD 19.027 billion, a decrease of 15% year-on-year. It was reported that the mainland business currently accounts for 23% of the company's total investment.
