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Foreign currency reserves up

Hong Kong's foreign currency reserve assets rose to US$423.2 billion in November from October's US$417.2 billion, the Monetary Authority announced today.   The reserve assets represent over five times the currency in circulation or about 42% of Hong Kong dollar M3.   There were no unsettled foreign exchange contracts at the end of November. http://dlvr.it/Sf21yd

Student headcount to be conducted

Secretary for Education Kevin Yeung today said a count of Primary 1 students will be conducted by mid-September for the Government to understand the impact of migration on individual schools.   He made the statement at a media session after the Legislative Council’s Panel on Education meeting.   “What we will be doing is, by the middle of this month, a headcount of the new Primary 1 students, then we will know better if there is any major change in the population or the number of students admitted to Primary 1.”   When asked what the Government will do to ensure schools’ stable development under the backdrop of population change, Mr Yeung explained that measures have been established over the years, especially in the primary school sector.   “We have lowered the number of students for each class, and for surplus teachers, we would have a toleration period of three years.”   Noticing recent news reports on the cuts in the number of Primary 1 classes, the education chief also clarified how the Government determines the number of Primary 1 classes to be offered each year.   “The way we calculate the number of Primary 1 classes each year (such as provisional assumption for the admission process in 2022) is based on the number of Primary 6 classes in the previous year, and also the number of classrooms divided by six, then take whichever is larger.   “So it is just formula-based. It does not reflect actually the forecast of the number of the possible Primary 1 students,” he stressed.
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124 COVID-19 cases reported

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