Download The data refer to the Hong Kong Special Administrative Region

The data refer to the Hong Kong Special Administrative Region (HKSAR). Data on transactions and assets and liabilities vis-à-vis The
Mainland of China are treated as international transactions and external positions respectively.
Standard Sources:
B: Hong Kong Monetary Authority, Monthly Statistical Bulletin
S: Census and Statistics Department, Hong Kong, Hong Kong Monthly Digest of Statistics, Hong Kong Annual Digest of Statistics,
Quarterly Report of Gross Domestic Product Estimates, Estimates of Gross Domestic Product 1961–1996
Exchange Rates:
Market Rate (End of Period and Period Average):
The closing midpoint (average of selling and buying rates) telegraphic transfer rates provided by the Hang Seng Bank Limited.
International Liquidity:
Foreign Exchange (line 1d.d): † Beginning in July 1997, the data include the foreign exchange reserves of the HKSAR Government's
Land Fund. † Beginning in November 1998, assets of the Land Fund are placed with the Exchange Fund.
Monetary Authorities:
Comprises the Hong Kong Monetary Authority. † Beginning in January 1999, Reserve Money (line 14) also includes Exchange Fund bills
and notes. Currency Outside Banks (line 14a): Currency issuance corresponds to the amount of noninterest-bearing certificates of
indebtedness (CI) that the Hong Kong Monetary Authority issues to three commercial banks as backing for the Hong Kong banknotes
that these commercial banks issue. The CIs are issued at a rate of HK$7.8 per U.S. dollar under the exchange rate system established
in October 1983 whereby the Hong Kong dollar was officially linked to the U.S. dollar. In the accounts of the banking institutions,
banknote liabilities are exactly offset by the CI holdings of the three banks that issue the banknotes. Beginning in November 1998,
assets of the HKSAR Government's Land Fund are placed with the Exchange Fund. The Land Fund's foreign exchange assets are
included in Foreign Assets (line 11), and its other assets are included in Other Items (Net) (line 17r). The contra-entry to the Land
Fund's total assets is included in Government Deposits (line 16d).
Banking Institutions:
Comprises all authorized banking institutions, covering licensed banks, restricted licence banks, and deposit-taking companies. Foreign
Assets (line 21) and Foreign Liabilities (line 26c): Data are based on information collected in a separate monthly survey of banking
institutions. Because these data are not fully reconcilable with banking institutions' balance sheet accounts in respect of what may be
inferred as foreign assets and liabilities, corresponding adjustments are made to the data in order to derive estimates of domestic assets
and liabilities within the balance sheet framework.
Money (National Definitions):
Base Money comprises currency in circulation, clearing accounts of banking institutions in the Hong Kong Monetary Authority (HKMA) in
national currency and foreign currency, and exchange funds issued by the HKMA. Currency in circulation refers to certificates of
indebtedness and notes and coins issued by the HKMA.
M1 comprises currency in circulation and demand deposits in national currency and foreign currency of other financial corporations,
public nonfinancial corporations, and private sector with licensed banks. Currency in circulation refers to certificates of indebtedness and
notes and coins issued by the HKMA less the amount held by licensed banks.
M2 comprises M1 plus time and savings deposits in national currency and foreign currency of other financial corporations, public
nonfinancial corporations, and private sector with licensed banks and negotiable certificates of deposit issued by licensed banks in
national currency and foreign currency held by other financial corporations, public nonfinancial corporations, and private sector.
M3 comprises M2 plus deposits in national and foreign currency with restricted license banks and deposit taking companies and
negotiable certificates of deposit issued by restricted license banks and deposit taking companies in national currency and foreign
currency held by other financial corporations, public nonfinancial corporations, and private sector.
Interest Rates:
All interest rate data are from source B.
Discount Rate (End of Period):
Exchange Fund's overnight liquidity adjustment facility offer rate.
Money Market Rate:
Midpoint (average of offer and bid rates) overnight closing rates in the interbank money market quoted by the Standard Chartered Bank.
Treasury Bill Rate:
Annualized yields on Exchange Fund bills of 91-day maturity.
Deposit Rate (Period Average):
Rate on average one-month time deposits of ten major banks. Prior to January 1995, data refer to the maximum rates paid by licensed
banks under the interest rate rules of the Hong Kong Association of Banks.
Lending Rate:
Rate quoted by the Hongkong and Shanghai Banking Corporation Limited.
Prices, Production, Labor:
Share Prices:
Source B, base July 31, 1964. † Beginning in 1996, monthly data refer to simple averages of daily values of closing Hang Seng indices.
Quarterly and annual data are simple averages of the monthly data. Prior to 1996, data refer to simple averages of daily values of
closing Hang Seng indices over the reference period. The constituent stocks of the Hang Seng index are 33 stocks representative of the
market. The aggregate market value of these stocks accounts for 75 percent of the total market capitalization on the Stock Exchange of
Hong Kong Limited.
Producer Prices:
Source S, weights reference period: annually re-weighted and chained; Laspeyres index which measures the changes in producer prices
of manufactured goods. The index covers the more important products identified from the Annual Survey of Industrial Production, and
the data are obtained from the Quarterly Survey of Industrial Production. The survey sample covers about 1700 establishments.
Consumer Prices:
Source S. Weights reference period: 2004–2005; Geographical Coverage: The whole HKSAR territory; Number of Items in Basket: 984;
Basis for Calculation: The weights are derived from the expenditure patterns of households collected from the Household Expenditure
Survey, and the indices are re-based and the weights revised every five years.
Wages: Average Earnings (Manufacturing):
Source S index, weights reference period: first quarter 1999. Payroll per person. Payroll covers wages and salaries, bonuses and
gratuities, commissions, and cash payments in other forms paid directly to employees for normal work time and overtime.
Wage Rates (Manufacturing):
Source S index, weights reference period: September 1992. Data are based on the Labor Earnings Survey and refer to nominal wage
indices for September of each year. Data cover a similar range of remuneration as the payroll per person index but only for normal work
time.
Manufacturing Production:
Source S. Weights reference period: weights are annually re-weighted; Sectoral Coverage: all manufacturing industries; Basis for
Calculation: sales data are used as weights for aggregating production indices at product level into indices at industry level.
International Transactions:
All trade data are from source S. Trade statistics refer to movements of merchandise between the HKSAR and its trading partners, by
land, air, ocean, and to a limited extent, post. Imports are c.i.f. values, whereas exports are f.o.b. values. Value index, unit value index,
and quantum index. Weights reference period: 2000.
National Accounts:
As indicated by the authorities, concepts and definitions are in accordance with the 1993 SNA.
Data have been revised due to the release of the new data series of chain volume measures of GDP and components in October 2007.
In calculating the chained (2005) dollar series, the current price value in the reference year of 2005 is extrapolated backwards and
forwards using the corresponding chain volume index. Because the extrapolation process is carried out for the GDP and its components
independently, the extrapolated values of the components do not, in general, aggregate exactly to the extrapolated value of GDP.