Rare move to take income out of Exchange Fund to pay for Northern Metropolis, other big projects

Paul Chan has proposed transferring HK$150 billion from the Exchange Fund in the coming two years

The Hong Kong government has produced a consolidated surplus earlier than expected, its first in four years, ahead of a rare transfer into coffers from the Exchange Fund and other sources.

The move to take investment income out of the Exchange Fund – the government’s main investment arm and de facto sovereign wealth fund – was last done in 1984.

Record surplus prompts Hong Kong government to offer tax relief, sweeteners

Source: News - South China Morning Post