15-JUL-1992
16:09
DEF HKG
+ 852 865 3346
P.06
Wednesday, July 15, 1992
霄
PRESS RELEASE
FS MAKES STATEMENT ON EXCHANGE FUND
In
(Wednesday),
today
a statement to the Legislative Council
the Financial Secretary, Mr. Hamish Macleod, announced his decision to publish a balance sheet showing the assets and liabilities of the Exchange Fund. The balance sheet will show that at the end of 1991 the Exchange Fund stood at
accumulated earnings of the Fund stood at
HK$236 billion.
The
HK$99 billion.
Mr. Macleod said,
"When put in perspective, these figures are very impressive indeed. The total foreign currency assets held by the Pund were equivalent to US$29 billion. Hong Kong's foreign currency holdings are the 12th highest in the world even though on а GDP comparison Hong Kong would be ranked only 34th. At US$5,000, Hong Kong'a per capita foreign currency holdings are far higher than the average of only US$740 for the OECD member
countries."
Mr.
Macleod
explained to LegCo Members
that he had
decided to break the established policy of confidentiality on the
Exchange Fund because circumstances have changed.
: