Scam alert related to banks
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to the press releases issued by the banks listed below relating to fraudulent websites, internet banking login screens, phishing emails or other scams, which have been reported to the HKMA. Hyperlinks to the press releases are available on theHKMA website.
Bank |
Type of scam |
The Bank of East Asia, Limited |
Fraudulent websites and internet banking login screens |
Shanghai Commercial Bank Limited |
Fraudulent websites and internet banking login screens |
Chong Hing Bank Limited |
Fraudulent websites and internet banking login screens |
Dah Sing Bank, Limited |
Fraudulent website |
The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks' websites to carry out transactions. They will not ask customers for sensitive information, such as login passwords or one-time password, by phone, email or SMS (including via embedded hyperlinks).
Anyone who has provided his or her personal information, or who has conducted any financial transactions, through or in response to the scams concerned, should contact the relevant bank with the information provided in the corresponding press release, and report the matter to the Crime Wing Information Centre of the Hong Kong Police Force at 2860 5012.
Source: AI-found images
External Direct Investment of Hong Kong in 2024
Hong Kong's external direct investment (DI) statistics for 2024 were released today (December 9) by the Census and Statistics Department (C&SD).
Stocks of DI
At the end of 2024, the total stock of Hong Kong's inward DI (i.e. the position of Hong Kong's DI liabilities) increased by 9.1% over a year earlier to $20,049.6 billion. Its ratio to the Gross Domestic Product (GDP) stood at 631% in 2024. The increase in 2024 was mainly attributable to the positive DI inflow to Hong Kong.
As for the total stock of Hong Kong's outward DI (i.e. the position of Hong Kong's DI assets), it increased by 6.7% over 2023 to $18,890.0 billion. Its ratio to GDP was 595% in 2024. The increase in 2024 was mainly attributable to the positive DI outflow to enterprises outside Hong Kong, partly offset by the decrease resulting from exchange rate variations, as some DI assets are denominated in other currencies.
Analysed by immediate source of investment, Chinese Mainland (the Mainland) and the British Virgin Islands (BVI) were the two largest sources for Hong Kong's inward DI, with a share of 32.7% and 30.4% respectively at end-2024. Analysed by major economic activity of Hong Kong enterprise groups (HKEGs) which had received inward DI, those engaged in investment and holding, real estate, professional and business services took up the largest share, at 68.2% at end-2024. This was followed by banking, at 11.0%; and import/export, wholesale and retail trades, at 10.5%.
Analysed by immediate destination of investment, the Mainland and the BVI were also the two largest destinations for Hong Kong's outward DI, with a share of 52.1% and 27.6% respectively at end-2024. Analysed by major economic activity of HKEGs which had made outward DI, those engaged in investment and holding, real estate, professional and business services took up the largest share, at 78.8% at end 2024. This was followed by import/export, wholesale and retail trades, at 8.6%.
Flows of DI
In 2024, total DI inflow amounted to $982.4 billion, larger than that of $954.9 billion in 2023. On the other hand, total DI outflow in 2024 amounted to $629.2 billion, smaller than that of $752.9 billion in 2023. Taking the inflow and outflow together, a net DI inflow of $353.2 billion was recorded in 2024.
Analysed by immediate source of investment, the Mainland was the major source of Hong Kong's DI inflow in 2024, amounting to $466.0 billion. The BVI came next, at $237.0 billion. Analysed by major economic activity of HKEGs which had received DI inflow, those engaged in investment and holding, real estate, professional and business services attracted the largest amount in 2024, at $588.0 billion.
Analysed by immediate destination of investment, the Mainland accounted for a predominant share of Hong Kong's DI outflow in 2024, at $372.9 billion. The BVI came next, at $198.9 billion. Analysed by major economic activity of HKEGs which had made DI outflow, those engaged in investment and holding, real estate, professional and business services took up the largest amount, at $452.9 billion.
Commentary
A Government spokesman said that Hong Kong remains one of the world's major destinations for and sources of external DI. Total DI inflow and outflow continued to be significant in 2024, at $982.4 billion and $629.2 billion respectively. The stocks of overall inward and outward DI also increased further to $20,049.6 billion and $18,890.0 billion (631% and 595% of GDP) respectively at end-2024. These testify Hong Kong’s status as a prominent international centre for finance and commerce and a preferred base for multinational corporations, while also reflect strong global investor confidence in Hong Kong's economic prospects.
Hong Kong's DI covers a large geographical spread and a wide range of economic activities, with the Mainland featuring prominently both as a source and as a destination. This underscores Hong Kong's pivotal roles as a "super connector" and a "super value-adder".
The Government will continue to leverage on Hong Kong's unique advantages in fulfilling its role in connecting the Mainland with the world. Persistent efforts have been made in deepening Hong Kong's international connectivity on all fronts, and proactive measures have been taken in attracting more Mainland enterprises to use Hong Kong as a platform to go global. The Government will also strengthen its policies for bringing in more strategic enterprises to set up in Hong Kong, thereby promoting high-quality development.
Further Information
DI represents external investment in which an investor of an economy acquires a lasting interest and a significant degree of influence or an effective voice in the management of an enterprise located in another economy. For statistical purpose, an effective voice is taken as being equivalent to a holding of 10% or more of the voting power in an enterprise.
According to the international statistical standards, the total stocks and flows of DI presented above are compiled based on the "asset/liability principle", while detailed DI figures analysed by country/territory and by major economic activity of HKEGs are based on the "directional principle". Owing to the adoption of different presentation principles, the total stocks and flows of DI are different from the sums of the detailed DI figures by country/territory or by major economic activity of HKEGs. However, the overall direct investment balance compiled from figures based on these two presentation principles respectively is the same.
Tables 1 and 2 show the positions (i.e. stocks) and flows of inward DI in Hong Kong by selected major investor country/territory and by major economic activity of HKEGs respectively for 2023 and 2024. Similar statistics on outward DI from Hong Kong are presented in Tables 3 and 4.
More detailed statistics are given in the report "External Direct Investment Statistics of Hong Kong 2024". Users can browse and download this publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1040003&scode=260).
Enquiries about the DI statistics may be directed to the Balance of Payments Branch (2) of the C&SD at 3903 7024.
Source: AI-found images
