Exchange Fund Abridged Balance Sheet and Currency Board Account
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (August 29) that the total assets of the Exchange Fund amounted to HK$4,102.6billion as at July 31, 2025, HK$194.5 billion lower than that at the end of June 2025. Foreign currency assets decreased by HK$106.1 billion and Hong Kong dollar assets decreased by HK$88.4 billion.
The decline in foreign currency assets was mainly due to the sale of US dollars under the Currency Board arrangements and reduction in the month-end balances of unsettled purchase of securities, which were partly offset by interest income from investments. The decline in Hong Kong dollar assets was mainly due to the decrease in Exchange Fund Bills and Notes issued but not yet settled at month end.
The Currency Board Account shows that the Monetary Base at the end of July 2025 was HK$2,042.6 billion, decreased by HK$77.6 billion, or 3.7 per cent, from the end of June 2025. The decline was mainly due to the purchase of HK dollars under the Currency Board arrangements.
The amount of Backing Assets decreased by HK$73.3 billion, or 3.1 per cent, to HK$2,291.5 billion at the end of July 2025. The decrease was mainly attributable to the sale of US dollars under the Currency Board arrangements, which was partly offset by interest income from investments. The Backing Ratio increased from 111.54per cent at the end of June 2025 to 112.19per cent at the end of July 2025.
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At present, four press releases relating to the Exchange Fund's data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund's Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund's Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA's policy of maintaining a high level of transparency. For the month of August 2025, the scheduled dates for issuing the press releases are as follows:
August 7
(Issued) |
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
August 14
(Issued) |
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund) |
August 29 |
SDDS Template on International Reserves and
Foreign Currency Liquidity |
August 29 |
Exchange Fund Abridged Balance Sheet and
Currency Board Account |
Source: AI-found images
Seven persons arrested during anti-illegal worker operation
The Immigration Department (ImmD) mounted an anti-illegal worker operation codenamed "Contribute" today (January 15).During the operation, ImmD Task Force officers raided premises under renovation in a newly built public housing estate in Sheung Shui district.A total of six suspected illegal workers and one suspected employer were arrested. Thearrested suspected illegal workers comprise six men, aged 22 to 41. Furthermore, one man, aged 45, suspected of employing the illegal workers, was also arrested. An investigation into the suspected employers is ongoing, and the possibility of further arrests is not ruled out.
Apart from mounting the enforcement operation, ImmD officers and a promotional vehicle have been deployed to distribute "Don't Employ Illegal Workers" leaflets and convey the message in the estate.
An ImmD spokesman said, "Any person who contravenes a condition of stay in force in respect of him or her shall be guilty of an offence. Also, visitors are not allowed to take employment in Hong Kong, whether paid or unpaid, without the permission of the Director of Immigration. Offenders are liable to prosecution and upon conviction face a maximum fine of $50,000 and up to two years' imprisonment. Aiders and abettors are also liable to prosecution and penalties."
The spokesman stressed that it is a serious offence to employ people who are not lawfully employable. Under the Immigration Ordinance, the maximum penalty for an employer employing a person who is not lawfully employable, i.e. an illegal immigrant, a person who is the subject of a removal order or a deportation order, an overstayer or a person who was refused permission to land, has been significantly increased from a fine of $350,000 and three years' imprisonment to a fine of $500,000 and 10 years' imprisonment to reflect the gravity of such offences. The director, manager, secretary, partner, etc, of the company concerned may also bear criminal liability. The High Court has laid down sentencing guidelines that the employer of an illegal worker should be given an immediate custodial sentence.
According to the court sentencing, employers must take all practicable steps to determine whether a person is lawfully employable prior to employment. Apart from inspecting a prospective employee's identity card, the employer has the explicit duty to make enquiries regarding the person and ensure that the answers would not cast any reasonable doubt concerning the lawful employability of the person. The court will not accept failure to do so as a defence in proceedings. It is also an offence if an employer fails to inspect the job seeker's valid travel document if the job seeker does not have a Hong Kong permanent identity card. Offenders are liable upon conviction to a maximum fine of $150,000 and to imprisonment for one year. In that connection, the spokesman would like to remind all employers not to defy the law by employing illegal workers. The ImmD will continue to take resolute enforcement action to combat such offences.
Under the existing mechanism, the ImmD will, as a standard procedure, conduct an initial screening of vulnerable persons, including illegal workers, illegal immigrants, sex workers and foreign domestic helpers, who are arrested during any operation with a view to ascertaining whether they are trafficking in persons (TIP) and/or forced labour victims. When any TIP and/or forced labour indicator is revealed in the initial screening, the ImmD officers will conduct a full debriefing and identification by using a standardised checklist to ascertain the presence of TIP and/or forced labour elements. Identified TIP and/or forced labour victims will be provided with various forms of support and assistance, including urgent intervention, medical services, counselling, shelter or temporary accommodation and other supporting services. The ImmD calls on TIP and/or forced labour victims to report crimes to the relevant departments immediately.
For reporting illegal employment activities, please call the dedicated hotline 3861 5000, by fax at 2824 1166, email to anti_crime@immd.gov.hk, or submit "Online Reporting of Immigration Offences" form at www.immd.gov.hk.
Seven persons arrested during anti-illegal worker operation Source: HKSAR Government Press Releases
Seven persons arrested during anti-illegal worker operation Source: HKSAR Government Press Releases
