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PRESS NOTICE.
16
8.10.40
The Government of Hong Kong,
with the concurrence of the Exchange Fund Advisory Committee, has offered to His Majesty's Government & free gift of £200,000 per annum for the duration of the war from the profits of the Exchange Fund, provided the net increment reaches that figure. This offer has been
gratefully accepted. As published half- yearly statement shows, the position at 31st December, 1939, represented a cover of over 114%. That cover will not be decreased by the gift. It will be recollected that besides remittances amounting to more than £83,000 from the Local Newspapers War Fund, the Hong Kong Government has already in the past year made two free cash gifts of £100,000 each.
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