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CE meets Philippine senate president

Chief Executive John Lee today met visiting Philippine Senate President Juan Miguel Fernandez Zubiri to exchange views on matters of common interest.   Mr Lee said Hong Kong and the Philippines have maintained close exchanges and co-operation in various fields such as trade, investment and finance, and that Hong Kong is an important trading and investment partner for the Philippines and other Association of Southeast Asian Nations countries. He encouraged more Philippine enterprises and talent to develop in Hong Kong and make better use of its professional services and internationalised business environment for expanding into Mainland markets, including those of the Greater Bay Area.   As the city is striving for early entry to the Regional Comprehensive Economic Partnership Agreement, the Chief Executive thanked the Philippines for its support in Hong Kong’s bid for accession.

Foreign currency reserves up

Hong Kong’s foreign currency reserve assets rose to US$430.7 billion in March from US$429.1 billion in February, the Monetary Authority announced today.   The reserve assets represent over five times the currency in circulation or about 41% of Hong Kong dollar M3.   Including unsettled foreign exchange contracts, the foreign currency reserve assets at the end of March increased to US$430.3 billion from February’s US$428.9 billion.

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