Government’s financial results for six months ended September 30, 2026
Source: Hong Kong Government special administrative region
Government’s financial results for six months ended September 30, 2026
September 30, 2026 HK$ millionSeptember 30, 2026 HK$ millionand repayment of Government Bondsissuance of Government BondsGovernment Bonds*and repayment of Government BondsGovernment Debts as at September 30, 2026 (Note 3) HK$529,514 million Debts Guaranteed by Government as at September 30, 2026 (Note 4) HK$104,447 million
TABLE 2. FISCAL RESERVES
September 30, 2026 HK$ million September 30, 2026 HK$ millionissuance and repayment of Government Bonds(Note 5)Notes:
1. This Account consolidates the General Revenue Account and the following eight Funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at September 30, 2026, was HK$60,369 million.
2. Includes transactions with the Exchange Fund and resident banks.
3. The Government Debts, with proceeds credited to the Capital Works Reserve Fund, comprise:
(i) the Green Bonds (equivalent to HK$207,894 million as at September 30, 2026) issued under the Government Sustainable Bond Programme. They were denominated in US dollars (US$9,250 million with maturity from July 2027 to January 2053), euros (7,000 million euros with maturity from November 2026 to November 2041), Renminbi (RMB38,500 million with maturity from November 2026 to July 2054) and Hong Kong dollars (HK$28,000 million with maturity from October 2026 to September 2028);
(ii) the Infrastructure Bonds (equivalent to HK$158,546 million as at September 30, 2026) issued under the Infrastructure Bond Programme. They were denominated in US dollars (US$500 million with maturity in May 2031), Renminbi (RMB59,750 million with maturity from November 2026 to May 2056) and Hong Kong dollars (HK$84,730 million with maturity from November 2026 to May 2056); and
(iii) the Silver Bonds with a nominal value of HK$163,074 million (with maturity in October 2027, October 2028 and September 2029 and may be redeemed before maturity upon request from bond holders) issued under the Infrastructure Bond Programme.
They do not include the outstanding bonds with a nominal value of HK$47,100 million and alternative bonds with a nominal value of US$1,000 million (equivalent to HK$7,846 million as at September 30, 2026) issued under the Government Bond Programme with proceeds credited to the Bond Fund. Of these bonds under the Government Bond Programme, bonds with a nominal value of HK$16,600 million will mature within the period from October 2026 to September 2027, and the rest within the period from October 2027 to May 2042. 5. Includes HK$249,845 million, being the balance of the Land Fund held in the name of Future Fund, for long-term investments up to December 31, 2030. The Future Fund also includes HK$4,800 million, being one-third of the actual surplus in 2015-16 as top-up. Issued at HKT 16:30