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Govt to enhance securities trading

It is a pleasure to be here with you today, especially after an accident that has reminded me of the importance of staying vigilant even in relatively peaceful times. Continuously enhancing competitiveness despite good business is also a theme I wish to harp on in today's speech.   Some of you may recall that I last spoke to you in November 2018. That was into the second year of my tenure, witnessing the celebration of the 40th anniversary of our nation's reform and opening up, and the consecutive opening of two major pieces of cross-boundary transport infrastructure - the Hong Kong section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link and the Hong Kong-Zhuhai-Macao Bridge. All seemed bright and well. And then we all have some frightening memories of what Hong Kong had gone through in the following two years. Few would disagree that it has been a very challenging period for Hong Kong, particularly with the riots in the latter half of 2019 during which some banks were

$20.8b deficit recorded

The Government announced today it recorded a $20.8 billion deficit for the two months ending May 31.   Expenditure for the period was $97.1 billion and revenue was $76.3 billion.   The Government said there was a deficit mainly because some major types of revenue including salaries and profits taxes are mostly received towards the end of a financial year.   Fiscal reserves stood at $907 billion at the end of May.
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