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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

John Lee to visit Beijing

Chief Executive-elect John Lee will depart for Beijing tomorrow to receive from the Central People’s Government the instrument of appointment as the sixth-term Chief Executive of the Hong Kong Special Administrative Region of the People’s Republic of China.   Premier Li Keqiang presided at the seventh plenary meeting of the State Council last Friday and decided on Mr Lee’s appointment as the city’s next Chief Executive.   Mr Lee will be accompanied by Mrs Lee, Private Secretary to the Chief Executive-elect Priscilla To and Press Secretary Alex Chan.   He will return on May 31.
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