{"id":322092,"date":"2026-02-28T16:38:11","date_gmt":"2026-02-28T16:38:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/322092\/"},"modified":"2026-02-28T16:38:11","modified_gmt":"2026-02-28T16:38:11","slug":"no-exchange-fund-withdrawal-in-next-5-years-after-latest-transfers-paul-chan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/322092\/","title":{"rendered":"No Exchange Fund withdrawal in next 5 years after latest transfers: Paul Chan"},"content":{"rendered":"

Hong Kong does not plan to make another transfer from its Exchange Fund in the next five years, the finance chief has said, citing a new medium-range forecast that explains why the rare move will not be repeated.<\/p>\n

Financial Secretary Paul Chan Mo-po<\/a> elaborated on his plan on Saturday, after his budget<\/a> announcement that he would withdraw HK$150 billion<\/a> (US$19.2 billion) from the government\u2019s main investment arm and de facto sovereign wealth fund sparked concerns about the city\u2019s financial stability.<\/p>\n

\u201cIn the entire medium-range forecast, apart from the HK$150 billion transfer over the two years just mentioned, there are actually no other transfers projected,\u201d Chan told a radio programme. \u201cI will not make this a normal practice.\u201d<\/p>\n

His assurances followed Wednesday\u2019s budget announcement that the government would withdraw HK$75 billion annually for two years from the Exchange Fund\u2019s investment income to top up the Capital Works Reserve Fund.<\/p>\n

The move, justified by the Exchange Fund\u2019s record-high investment income of HK$330 billion last year, aims to support the Northern Metropolis<\/a> and other infrastructure projects.<\/p>\n

Chan argued that with the fund\u2019s total assets exceeding HK$4.1 trillion, the transfer represented only about half of last year\u2019s investment gains and would not undermine the city\u2019s financial stability or its ability to defend the currency peg.<\/p>\n","protected":false},"excerpt":{"rendered":"Hong Kong does not plan to make another transfer from its Exchange Fund in the next five years,…\n","protected":false},"author":2,"featured_media":322093,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,149715,113,148396,26848,240,61,60,43,18273,131778,17573],"class_list":{"0":"post-322092","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-capital-works-reserve-fund","10":"tag-economy","11":"tag-exchange-fund","12":"tag-financial-secretary-paul-chan-mo-po","13":"tag-hong-kong","14":"tag-ie","15":"tag-ireland","16":"tag-news","17":"tag-northern-metropolis","18":"tag-paul-chan-mo-po","19":"tag-scmp"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/322092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=322092"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/322092\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/322093"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=322092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=322092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=322092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}