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The official foreign currency reserve assets of Hong Kong amounted to US$114.4 billion at the end of June, compared with US$116.1 billion at the end of May, the Hong Kong Monetary Authority (HKMA) announced Monday.
In terms of foreign currency reserves ranking, Hong Kong is the world's fifth largest holder of foreign currency reserves, after Japan, the Chinese mainland, Chin's Taiwan, and the Republic of Korea.
The total foreign currency reserve assets represent about seven times the currency in circulation or about 44 percent of Hong Kong dollar M3, one of the highest ratios in the world.
(Xinhua News Agency July 8, 2003)
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