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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

Govt rejects US report

The Hong Kong Special Administrative Region Government expressed strong opposition to the unfounded remarks on Hong Kong contained in the US' 2021 Report on International Religious Freedom.   The Hong Kong SAR Government made the statement today, noting that following the implementation of the National Security Law, chaos has stopped and order has been restored in Hong Kong.   It explained that the National Security Law ensures the resolute, full and faithful implementation of the “one country, two systems” principle under which the people of Hong Kong administer Hong Kong with a high degree of autonomy, and also clearly stipulates that human rights shall be respected and protected in safeguarding national security in the Hong Kong SAR.   The rights and freedoms, including the freedoms of speech, of the press, of publications, of association, of assembly, of procession and of demonstration, enjoyed by residents of Hong Kong under the Basic Law and the provisions of the International Covenant on Civil & Political Rights and the International Covenant on Economic, Social & Cultural Rights as applicable to Hong Kong shall be protected in accordance with the law, the Hong Kong SAR Government pointed out.   It added that the four categories of offences endangering national security stipulated under the National Security Law are clearly defined. Law-abiding people will not unwittingly violate the law.   The Hong Kong SAR Government stressed that all law enforcement actions taken by law enforcement agencies under the National Security Law, or indeed any local legislation, are based on evidence, strictly according to the law and for the acts of the people or entities concerned, and have nothing to do with their political stance, background or occupation.
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