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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

Elderly Commission chair named

Dr Donald Li has been appointed as Elderly Commission chairman and Prof Daniel Lai as a commission member for two years from July 30, the Government announced today.   Dr Li is Hong Kong Sheng Kung Hui Welfare Council chairman and World Organization of Family Doctors immediate past president. He is also Action Committee Against Narcotics chairman and a member of the Steering Committee on Primary Healthcare Development.   Prof Lai is Baptist University’s Dean of the Faculty of Social Sciences and Social Work Chair Professor.   Secretary for Labour & Welfare Chris Sun said the commission has been assisting the Government in formulating a comprehensive policy in caring for the elderly over the past two decades or so.   “Dr Li and Prof Lai are both well experienced in elderly-related issues and are experts in their respective fields. I look forward to working closely with them in further improving elderly services in Hong Kong.”   Mr Sun also thanked outgoing chairman Dr Lam Ching-choi, praising him for his capable leadership and unfailing support which have been instrumental for the Government to gradually take forward various new policy initiatives on the elderly front, especially those recommended under the Elderly Services Programme Plan.
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