Source: Hong Kong Government special administrative region
Monetary Statistics for January 2026
Total loans and advances increased by 1.1 per cent in January. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.7 per cent and 2.2 per cent respectively in January. The Hong Kong dollar loan-to-deposit ratio decreased to 72.3 per cent at the end of January from 72.9 per cent at the end of December, as Hong Kong dollar deposits increased at a faster pace than Hong Kong dollar loans.
Hong Kong dollar M2 and M3 both increased by 1.1 per cent in January, and both increased by 3.8 per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 2.6 per cent in January, and increased by 16.9 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both remained virtually unchanged in January. Compared to a year earlier, total M2 and total M3 increased by 9.9 per cent and 9.8 per cent respectively.
As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.
Issued at HKT 16:45
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CFS announces food safety report for January
Source: Hong Kong Government special administrative region
CFS announces food safety report for January
A CFS spokesman said that about 600 food samples were collected for microbiological tests, and about 2 000 samples were taken for chemical and radiation level tests.
The microbiological tests covered pathogens and hygiene indicators; the chemical tests included testing for pesticides, preservatives, metallic contaminants, colouring matters, veterinary drug residues and others; and the radiation-level tests included testing for radioactive caesium and iodine in samples collected from imported food from different regions.
The samples comprised about 1 000 samples of vegetables and fruit and their products; about 100 samples of cereals, grains and their products; about 300 samples of meat and poultry and their products; about 300 samples of milk, milk products and frozen confections; about 300 samples of aquatic and related products; and about 600 samples of other food commodities (including beverages, bakery products and snacks).
The four unsatisfactory samples comprised a jade melon sample detected with a metallic contaminant exceeding the legal limit; a snow pea sample and a spinach sample detected with pesticide residues exceeding the legal limits; and a tuna sample found with malachite green.
The CFS has taken follow-up actions on the above-mentioned unsatisfactory samples, including informing the vendors concerned of the test results, instructing them to stop selling the affected food items, and tracing the sources of the food items in question.
The spokesman reminded the food trade to ensure that food is fit for human consumption and meets legal requirements. Consumers should patronise reliable shops when buying food and maintain a balanced diet to minimise food risks.
Separately, in response to the Japanese Government’s discharge of nuclear-contaminated water at the Fukushima Nuclear Power Station, the CFS will continue enhancing the testing on imported Japanese food, and make reference to the risk assessment results to adjust relevant surveillance work in a timely manner. The CFS will announce every working day on its dedicated webpage (www.cfs.gov.hk/english/programme/programme_rafs/daily_japan_nuclear_incidents.htmlIssued at HKT 16:45
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CE meets Zhuhai official
Source: Hong Kong Information Services
Chief Executive John Lee today met CPC Zhuhai Municipal Committee Secretary Chen Yong to exchange views on strengthening co-operation between Hong Kong and Zhuhai.
Mr Chen is also CPC Guangdong Provincial Committee Hengqin Working Committee Secretary.
Welcoming Mr Chen and his delegation to Hong Kong, the Chief Executive said that following the commissioning of the Hong Kong-Zhuhai-Macao Bridge (HZMB), Zhuhai is the only Mainland city connected by land to both Hong Kong and Macau.
Mr Lee stressed that implementation of the Northbound Travel for Hong Kong Vehicles and Southbound Travel for Guangdong Vehicles schemes has strengthened the two-way flow of people between Guangdong and Hong Kong, and of people and goods within the Greater Bay Area.
As a core city in the bay area, Hong Kong will continue to work closely with Zhuhai to harness opportunities presented by the HZMB to and promoted the bay area’s high-quality development.
Mr Lee also mentioned that Hong Kong International Airport and Zhuhai Airport have been co-operating closely, with notable results.
He added that through enhancing the Fly-Via-Zhuhai-Hong Kong direct passenger service and jointly developing the international air-cargo business, the two places have enhanced the competitiveness of both airports and synergised their combined advantages.
Mr Lee said this serves as a testament to the complementarity and mutual benefits achieved between the two cities.
The Chief Executive also highlighted that Hong Kong will continue to leverage its dual advantages of enjoying both national and global opportunities, and will further strengthen collaboration between the two airports to establish a world-class airport cluster in the bay area.
He underlined that Hong Kong and Zhuhai are linked by geographical ties, share the same roots, and enjoy frequent exchanges in areas such as trade, investment, transport and aviation.
He added that the Hong Kong Special Administrative Region Government will proactively align with the National 15th Five-Year Plan, aiming to better integrate into and serve the country’s overall development and fulfil Hong Kong’s mission of “bringing in and going global”.
He urged Zhuhai enterprises to make good use of Hong Kong as a springboard to explore overseas markets, collaborate in pursuing development, and jointly seize the opportunities arising from national development.
Light housing tender opens
Source: Hong Kong Information Services
The Housing Bureau today invited tenders for the operation and management contract of Light Public Housing (LPH) at Hang Kwong Street, Ma On Shan. The deadline is noon on April 17.
The LPH project will provide about 855 units, with intake tentatively scheduled in the fourth quarter of this year.
Same as the previous contracts of other LPH projects, the operation and management services mainly cover occupant management, property management and daily maintenance as well as the provision of social services, and management and operation of ancillary facilities.
To encourage participation of different stakeholders in the community, the bureau welcomes tenders from all capable and experienced service providers, including non-government organisations and those with a valid property management company licence, or a collaboration between them.
It has awarded eight LPH operation and management contracts so far and is now evaluating the tenders for the ninth and 10th operation and management contracts, which cover the LPH project at Yan Po Road, Tuen Mun. Meanwhile, the tender for the operation and management contract of the LPH project at Tsing Fat Street, Tuen Mun, is also in progress.
The bureau added that the Hang Kwong Street project is the 12th and last LPH operation and management contract.
FS explains fiscal plan on radio show
Source: Hong Kong Information Services
Financial Secretary Paul Chan took part in a radio phone-in programme this morning to answer questions from the public on the 2026-27 Budget.
Questions from callers ranged across several issues, including tourism, digital assets and planning for the Northern Metropolis.
The Budget proposes to raise the borrowing ceiling for bond issuance from $700 billion to $900 billion over the next five fiscal years. Mr Chan offered his assessment of the plan’s economic return.
“The outstanding liability to GDP (gross domestic product) ratio is about 14.4%, five years rising to about 19.9%. By any international standard, we will be still very safe. We are very confident with the growing economy, with the investment return, we will be able to service these debts,” he said.
The finance chief explained that about half of the bond issuance will pay off short-term bonds that were issued earlier to take advantage of lower interest rates.
“Going forward, we will be exploring perhaps issuing some proportion of long-term bonds, so that these bonds, the cash flow, will be a better match for the Northern Metropolis infrastructure investments,” he added.
To accelerate artificial intelligence or AI industrialisation, the Budget also suggests establishing a committee on AI+ and industry development strategy. The Financial Secretary noted that AI can drive industrial transformation.
“The way we see technology’s impact on our future economic development is AI+. AI is a core industry, of course, but we need to apply AI to different sectors to help them transform, upgrade, even changing the business model to make it more competitive.”
Mr Chan added that the main purpose of the committee is to explore how to help businesses adapt to AI to become competitive and help drive innovation.
The Financial Secretary also elaborated on another concept in the Budget, Finance+, which he said could leverage Hong Kong’s status as an international financial centre, including its liquidity and talent pools, as well as its financial institutions to help different sectors prosper by helping them to harness AI.
Mr Chan was also asked how the Government’s funding of $1.66 billion for the Tourism Board in the coming year will be used to further promote tourism and maximise its economic benefits. He noted that future plans could build on the strong success of recent events.
“What we have in mind is to extend perhaps the duration of those events and having also some of the events to be held in different districts, so that benefits can be shared among the different districts and let people have more in-depth visits into Hong Kong, particularly different areas.”
“We want to leverage this advantage together with, say for example the convention industry, the exhibition industry, to attract more new exhibitions to come to Hong Kong, because this will bring us high-spending tourists and visitors,” he added.
President Lee’s state visits to Singapore, Philippines
Source: Government of the Republic of Korea
Foreign Affairs
President Lee’s state visits to Singapore, Philippines
President Lee Jae Myung from March 1-4 will pay state visits to Singapore and the Philippines, Cheong Wa Dae said on Feb. 27.
From March 1-3, President Lee will visit Singapore to attend a summit with Singaporean Prime Minister Lawrence Wong, followed by a meeting with President Tharman Shanmugaratnam and a state dinner. President Lee will also attend the Artificial Intelligence (AI) Connect Summit hosted by both countries for talks with future AI leaders.
From March 3-4, President Lee will visit Manila for talks with Philippine President Ferdinand Marcos Jr. and a state dinner. The first day of the summit, March 3, marks the 77th anniversary of diplomatic ties, adding meaning to this trip. President Lee will also attend a business forum with entrepreneurs from both countries.
Prime Minister, Hon. Dr. ‘Aisake Valu Eke announces new Cabinet Ministers
Source: Tonga Government
GOVERNMENT OF TONGA
MEDIA RELEASE
(28th January, 2025)
“Prime Minister, Hon. Dr. ‘Aisake Valu Eke announces new Cabinet Ministers”
The Prime Minister’s Office has the honour of advising members of the public, that His Majesty,
King Tupou VI, upon receiving recommendations from the Prime Minister, the Hon. Dr.’Aisake Valu Eke, has appointed the new Ministers of Government, with effect from today, Tuesday 28th January 2025.
The new members of His Majesty’s Cabinet are as follows, along with their respective portfolios:
1. Hon. Dr. ‘Aisake Valu Eke
- Prime Minister;
- Minister for Finance
- Minister for Fisheries
- Minister for Prisons
2. Hon. Dr. Taniela Likuohihifo Fusimalohi
- Deputy Prime Minister;
- Minister for Infrastructure;
- and Minister for Meteorology, Energy, Information, Disaster Management, Environment, Communications and Climate Change (MEIDECC).
3. His Royal Highness, the Crown Prince Tupouto’a ‘Ulukalala
- Minister for Foreign Affairs;
- Minister for His Majesty’s Armed Forces
4. Hon. Dr. ‘Uhilamoelangi Fasi
- Minister for Education & Training
- Minister for Lands and Natural Resources
5. Hon. Mateni Tapueluelu
-Minister for Revenue and Customs
6. Hon. Kapeli Militoni Lanumata
- Minister for Trade and Economic Development.
7. Hon. Mo’ale Finau
-Minister for Tourism
-Minister for Justice
8. Hon. Paula Piveni Piukala
- Minister for Public Enterprises
- Minister for Police
- Minister for Fire and Emergency Services
9. Hon. Dr. ‘Ana ‘Akau’ola
- Minister for Health
10. Hon. Dr Siosiua Moala Halavatau
-Minister for Agriculture, Food, Forests
11. Hon. Sinaitakala Tu’itahi
-Minister for Internal Affairs
The Hon Prime Minister will present the letters of appointment to all of the Cabinet Ministers on Thursday 30th January 2025.
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Pacific Islands Forum Secretary General Meets New Prime Minister of Tonga
Source: Tonga Government
JOINT MEDIA RELEASE
(24th January, 2025)
“Pacific Islands Forum Secretary General Meets New Prime Minister of Tonga.”
Nuku’alofa- The Prime Minister of Tonga and Chair of the Pacific Islands Forum (PIF), Hon. Dr ‘Aisake Valu Eke, met with the PIF Secretary General, Baron Waqa, on 24 February 2025 in Tonga.
Secretary General Waqa, accompanied by a delegation from the Forum Secretariat, provided a high-level briefing to the Forum Chair on the region’s key priorities leading up to the 54th PIF Leaders Meeting in September in Solomon Islands.
The Prime Minister considered comprehensive updates on political developments in the region and the key priorities for the PIF in 2025, including: the Review of the Regional Architecture, the Pacific Resilience Facility, the Pacific Roadmap for Economic Development and the preparations for the High-Level Talanoa on Deep Sea Minerals to take place in February 2025 in Suva, Fiji.
“I am committed to continuing Tonga’s leadership role in the region and I look forward to working with colleague Leaders, to advance the regional priorities of the Pacific Islands Forum. Recognising the importance of the work programme before us as the Forum, I am grateful that the Secretariat General was able to facilitate a comprehensive briefing on the expectations of Tonga and the deliverables this year, as the region works towards the Leaders Meeting in Honiara in September this year,” said Forum Chair and Prime Minister Hon. Dr. ‘Aisake Valu Eke.
The briefing also highlighted critical Forum engagements at both regional and international levels, emphasising Tonga’s leadership role as PIF Chair. This includes chairing pivotal ministerial meetings in 2025, including the Special Forum Economic Ministers Meeting, Forum Trade Ministers Meeting, and Forum Foreign Ministers Meeting.
“I am heartened by the support and commitment of the Forum Chair. He brings with him deep insights and views on regional priorities, especially as they relate to political and economic development and regional system efficiencies. I look forward to supporting him and Forum Leaders over the coming months,” said Secretary General Baron Waqa.
Tonga will be home to the Pacific-led and Pacific-owned Pacific Resilience Facility, a critical initiative that provides funding for climate change adaptation, disaster preparedness, and community resilience projects across Pacific Island nations.
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Government essential services to remain open during the official lunch hour
Source: Tonga Government
The Prime Minister, Hon. Dr. ‘Aisake Valu Eke, has announced during the press conference held on Thursday, January 30th, 2025 that His Majesty’s Cabinet has approved a new initiative, and that is to allow essential services in all Government Ministries to remain open during the official lunch hour, and to be effective Monday 3rd of February, 2025.
The purpose of this initiative is to make Government services more accessible to the public. This will be advantageous to people from the Hahake and Hihifo villages who travels to Nuku’alofa, and sometimes have to wait until around the lunch hour is over and Government services open. This will allow the public to know that Government essential services will be available all day during the normal working hours.
Some of the essential services to be included in this initiative is the Treasury Services, Ministry of Finance; One Stop Shop and related services, Ministry of Revenue and Customs; Immigration Services, Ministry of Foreign Affairs to name a few. Other services will be announced by each Ministry.
The Hon. Ministers will immediately work with all Chief Executive Offices to assess and identify essential services within their respective Ministries to be made available during the lunch hour. The public will be informed of these services and to start next week on Monday 3rd of February 2025.
Loss of control during taxi and ground collision involving SAAB 340B, A3-PUA, Fua’amotu
Source: Tonga Government
The Lulutai Airlines aircraft which exited the taxiway and hit an embankment at Fua’amotu Airport had lost its hydraulic systems after a circuit breaker tripped, the Tonga Civil Aviation Office has found.
On 8 December 2023, a Lulutai Airlines Saab 340B was operating a scheduled passenger flight from Fua’amotu International Airport, Tongatapu, to Lupepau’u Airport, Vava’u.
On descent into Vava’u, the flight crew identified an issue with the aircraft’s main hydraulic system and elected to return to Fua’amotu.
After a safe landing in Fua’amotu, the flight crew planned to stop on the runway in accordance with the abnormal checklist for hydraulic fluid loss.
But with brake pressure remaining, and without a tug readily available, the crew opted to taxi to the terminal.
During the taxi, the aircraft lost wheel braking and direction control due to the depletion of hydraulic pressure, resulting in the aircraft veering off the apron and colliding with a disused refuelling bund, collapsing the right landing gear leg. The three crew and 35 passengers were uninjured.