§ Mr. MacShaneTo ask the Chancellor of the Exchequer what are his plans in respect of the gold reserves currently held by the Hong Kong Government. [6197]
§ Mr. HanleyI have been asked to reply.
The Hong Kong Government's gold reserves, and the other assets of the exchange fund, will be transferred to the Hong Kong special administrative region government on 1 July 1997. The fund will be managed by the HKSARG in accordance with the laws of the Hong Kong special administrative region.
§ Mr. MacShaneTo ask the Chancellor of the Exchequer what is the amount of gold held by the Hong Kong government. [6195]
§ Mr. HanleyI have been asked to reply.
The Hong Kong Government hold, through the exchange fund, about 2 tons of gold. This represents less than 0.05 per cent. of the fund's total assets.