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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

6 factors to adjust civil service pay

Chief Executive Carrie Lam said the Chief Executive-in-Council will consider a basket of six factors regarding civil service pay.   Ahead of today’s Executive Council meeting in the morning, Mrs Lam noted this year's pay trend survey results show that there is a positive rate, especially at the higher level of civil service positions.   However, she stressed that the survey is not the only consideration regarding the civil service pay annual adjustment.   “As the Secretary for Civil Service has repeatedly said in public, we have been practising this repeatedly in previous years that we do not just rigidly follow the pay trend survey results to adjust the civil service pay on an annual basis - there is a basket of six factors.   “We are still in this process. So for the time being, no decision has been made on adjustments to civil service pay in the 2022 pay adjustment exercise.”
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