Economic & Financial Data for Hong Kong

The first released figures are called "advance estimates". The advance estimates include the real growth of overall GDP and its major expenditure components. When more data become available, the advance estimates will be revised. The revised figures as well as the current price GDP will be released about two weeks later for the first, second and third reference quarters and on the Budget Day for the fourth quarter.

Hong Kong is taking the flexibility options for periodicity and timeliness. The indices are disseminated on a quarterly basis within three months of the end of the reference quarter.

Refer to views on expected changes in volume of business/output, number of persons engaged and prices for the coming quarter as compared with the current quarter.

Includes transactions with the Exchange Fund and resident banks.

The Government Debts, with proceeds credited to the Capital Works Reserve Fund, comprise:

(i) the Green Bonds (equivalent to HK$194,375 million as at March 31, 2025) issued under the Government Sustainable Bond Programme. They were denominated in US dollars (US$9,950 million with maturity from January 2026 to January 2053), euros (4,580 million euros with maturity from February 2026 to November 2041), Renminbi (RMB34,000 million with maturity from June 2025 to July 2054) and Hong Kong dollars (HK$42,000 million with maturity from May 2025 to October 2026);

(ii) Infrastructure Bonds (equivalent to HK$50,177 million as at March 31, 2025) issued under the Infrastructure Bond Programme. They were denominated in Renminbi (RMB13,500 million with maturity from December 2025 to November 2034) and Hong Kong dollars (HK$35,730 million with maturity from November 2025 to March 2045); and

(iii) Silver Bonds with nominal value of HK$54,792 million (with maturity in October 2027 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 nominal value of HK$176,340 million and alternative bonds with nominal value of US$1,000 million (equivalent to HK$7,778 million as at March 31, 2025) issued under the Government Bond Programme with proceeds credited to the Bond Fund. Of these bonds under the Government Bond Programme (including Silver Bonds with nominal value of HK$96,340 million, which may be redeemed before maturity upon request from bond holders), bonds with nominal value of HK$6,500 million were repaid upon maturity on April 14, 2025; bonds with nominal value of HK$68,590 million will mature within the period from May 2025 to March 2026 and the rest within the period from April 2026 to May 2042.

Includes guarantees provided under the SME Loan Guarantee Scheme launched in 2001, the Special Loan Guarantee Scheme launched in 2008, the SME Financing Guarantee Scheme launched in 2012, and the Loan Guarantee Scheme for Cross-boundary Passenger Transport Trade, the Loan Guarantee Scheme for Battery Electric Taxis and the Loan Guarantee Scheme for Travel Sector launched in 2023.

Loan to the Hong Kong SAR government is at present zero.

Includes loans for trade finance and other loans for use in Hong Kong. Since December 2018, figures for loans for use in/outside Hong Kong have been restated to reflect authorized institutions’ reclassification of working capital loans.

Hong Kong is taking the extensive branch banking system flexibility to disseminate data on the external position with a timeliness of more than one month.

The indices are for general reference only. The indices for the recent few months are provisional, pending the availability of further data for analysis. Whilst the Government endeavours to ensure the accuracy of the indices, the Government does not accept responsibility for any errors or omissions in the indices, or for any loss, damage, action or inaction, whether directly or indirectly, arising from the use of, or for advice based on, any information therein. Users of these indices are responsible for their own assessments of all information in connection with the said indices and are advised to verify these indices by making reference to their original publication and obtain independent advice before acting on them.

A new sign convention has been adopted for the entire series of the financial account since June 2023. From then on, an increase in financial non-reserve assets/reserve assets is indicated by a positive value while a decrease in financial non-reserve assets/reserve assets is indicated by a negative value.