Table 3 Hong Kong's Balance of Payments Sub-account Components:
  Capital and Financial Account
HK$ million

  2000 2001 2000 2000 2000 2000 2001 2001 2001 2001
Standard Components Annual Annual 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

                     
Capital and Financial Account(1) -57,863 -85,717 -8,712 -5,633 -12,888 -30,630 -504 -11,597 -19,459 -54,157
  Capital Account -12,044 -9,059 -2,140 -3,679 -3,707 -2,519 -1,438 -3,116 -2,927 -1,578
    Capital transfers -12,044 -9,059 -2,140 -3,679 -3,707 -2,519 -1,438 -3,116 -2,927 -1,578
      General government 0 0 0 0 0 0 0 0 0 0
      Other sectors -12,044 -9,059 -2,140 -3,679 -3,707 -2,519 -1,438 -3,116 -2,927 -1,578
    Non-produced and non-financial assets ... ... ... ... ... ... ... ... ... ...
  Financial Account -45,819 -76,658 -6,572 -1,954 -9,182 -28,111 933 -8,481 -16,532 -52,579
    Financial non-reserve assets (net change) 32,503 -40,128 -23,224 23,414 29,787 2,525 61,891 1,443 -42,852 -60,610
      Direct investment 19,767 108,036 8,961 58,136 23,725 -71,055 59,090 37,372 4,958 6,616
        Direct investment abroad -462,483 -70,036 -59,170 -69,123 -27,442 -306,749 -7,485 -14,966 -38,384 -9,201
          Equity capital -383,157 -17,581 -7,086 -92,950 -8,290 -274,831 -7,632 -1,548 -6,673 -1,728
            Claims on affiliated enterprises -383,157 -17,581 -7,086 -92,950 -8,290 -274,831 -7,632 -1,548 -6,673 -1,728
            Liabilities to affiliated enterprises ... ... ... ... ... ... ... ... ... ...
          Reinvested earnings -81,400 -91,325 -27,602 -21,836 -17,792 -14,170 -17,493 -31,426 -28,530 -13,876
          Other capital 1,957 38,900 -24,588 45,664 -1,360 -17,758 17,640 18,008 -3,054 6,305
            Claims on affiliated enterprises -64,413 -13,682 -32,015 -13,132 417 -19,683 -14,732 10,474 -17,500 8,076
            Liabilities to affiliated enterprises 66,370 52,582 7,427 58,796 -1,777 1,924 32,373 7,534 14,445 -1,771
          Financial derivatives 117 -30 106 ... ... 11 ... ... -127 97
            Claims on affiliated enterprises 117 -30 106 ... ... 11 ... ... -127 97
            Liabilities to affiliated enterprises ... ... ... ... ... ... ... ... ... ...
        Direct investment in HK 482,250 178,071 68,131 127,258 51,167 235,694 66,575 52,337 43,342 15,817
          Equity capital 256,760 54,616 8,363 72,086 -15,358 191,668 10,295 1,513 1,900 40,908
            Claims on direct investors ... ... ... ... ... ... ... ... ... ...
            Liabilities to direct investors 256,760 54,616 8,363 72,086 -15,358 191,668 10,295 1,513 1,900 40,908
          Reinvested earnings 150,273 98,388 43,581 34,742 43,466 28,484 36,724 40,268 39,998 -18,602
          Other capital 75,541 25,088 16,509 20,389 23,043 15,600 19,556 10,680 1,457 -6,605
            Claims on direct investors -1,796 -5,028 -1,073 6,185 -2,314 -4,595 3,985 -3,058 -4,189 -1,767
            Liabilities to direct investors 77,338 30,116 17,582 14,204 25,357 20,195 15,571 13,739 5,645 -4,839
          Financial derivatives -325 -21 -323 41 15 -58 ... -123 -13 116
            Claims on direct investors 127 ... -356 ... ... 482 ... ... ... ...
            Liabilities to direct investors -451 -21 33 41 15 -540 ... -123 -13 116
      Portfolio investment 190,782 -309,317 61,403 6,556 8,341 114,482 -108,070 -52,268 -71,339 -77,640
        Assets -171,627 -305,178 7,028 -106,185 14,296 -86,766 -75,082 -77,803 -46,306 -105,988
          Equity securities -137,154 -176,673 -29,208 -69,702 29,613 -67,856 -85,266 -10,028 -49,227 -32,152
            Banks -186 112 -42 -107 ... -38 -22 50 27 57
            Other sectors -136,968 -176,785 -29,166 -69,596 29,613 -67,819 -85,243 -10,079 -49,254 -32,209
          Debt securities -34,472 -128,506 36,236 -36,482 -15,317 -18,910 10,184 -67,775 2,921 -73,836
            Bonds and notes -35,027 -126,227 32,374 -31,714 -137 -35,550 3,011 -59,406 -24,823 -45,009
              Banks -117,049 -100,765 -32,680 -15,588 -36,604 -32,176 -20,693 -46,198 -25,401 -8,473
              Other sectors 82,021 -25,462 65,054 -16,127 36,468 -3,374 23,703 -13,208 578 -36,536
            Money market instruments 555 -2,278 3,862 -4,768 -15,180 16,641 7,174 -8,369 27,744 -28,826
              Banks 2,684 -3,817 5,259 -8,197 -11,955 17,577 1,043 -6,847 25,391 -23,404
              Other sectors -2,129 1,540 -1,397 3,429 -3,225 -936 6,131 -1,522 2,353 -5,422
        Liabilities 362,409 -4,139 54,375 112,741 -5,954 201,248 -32,988 25,535 -25,033 28,348
          Equity securities 366,060 4,650 54,198 112,681 -5,347 204,528 -42,692 26,993 -19,505 39,854
            Banks 12,933 4,596 -4,240 2,327 3,348 11,497 -196 3,320 1,893 -421
            Other sectors 353,127 54 58,438 110,354 -8,695 193,031 -42,496 23,673 -21,398 40,275
          Debt securities -3,651 -8,788 176 60 -607 -3,279 9,704 -1,458 -5,528 -11,506
            Bonds and notes -42 -11,438 3,548 -2,106 -1,094 -389 8,401 -2,941 -3,790 -13,107
              Banks -2,947 -6,717 -447 -714 -261 -1,524 737 -1,430 -2,107 -3,917
              Other sectors 2,905 -4,722 3,995 -1,392 -833 1,135 7,663 -1,512 -1,683 -9,190
            Money market instruments -3,609 2,650 -3,371 2,166 487 -2,890 1,303 1,484 -1,738 1,601
              Banks -465 1,318 95 3,146 -507 -3,198 186 1,451 -1,260 941
              Other sectors -3,144 1,332 -3,466 -980 994 308 1,117 33 -478 660
      Financial derivatives 1,871 39,141 -37,707 17,496 -1,146 23,228 -9,209 21,147 15,054 12,148
        Assets 65,567 136,543 6,468 23,325 8,964 26,811 18,072 42,583 49,313 26,576
          Banks 55,687 129,625 6,175 22,406 5,290 21,816 17,326 41,363 47,791 23,145
          Other sectors 9,881 6,918 293 919 3,674 4,995 746 1,219 1,521 3,431
        Liabilities -63,696 -97,403 -44,175 -5,829 -10,110 -3,583 -27,280 -21,435 -34,259 -14,428
          Banks -61,404 -93,906 -43,809 -5,581 -9,404 -2,610 -26,450 -20,870 -33,885 -12,701
          Other sectors -2,293 -3,497 -366 -248 -706 -973 -831 -565 -374 -1,727
      Other investment -179,917 122,013 -55,881 -58,774 -1,133 -64,130 120,080 -4,807 8,476 -1,735
        Assets 142,354 454,220 38,381 87,618 51,528 -35,173 62,689 153,406 129,880 108,246
          Trade credits -5,546 3,257 -2,298 -3,986 2,564 -1,826 -2,130 -4,415 -1,458 11,260
          Loans 331,803 215,294 93,144 93,626 72,654 72,379 41,608 87,389 65,501 20,796
            Banks 328,293 218,201 92,868 93,254 70,953 71,217 43,102 88,949 60,420 25,730
            Other sectors 3,510 -2,906 276 372 1,701 1,162 -1,494 -1,560 5,082 -4,934
          Currency and deposits -175,357 221,881 -52,098 -4,667 -11,712 -106,879 19,087 68,182 64,748 69,864
            Banks -141,923 223,920 -28,276 12,343 -14,717 -111,273 16,022 50,526 56,681 100,690
            Other sectors -33,434 -2,039 -23,822 -17,010 3,005 4,393 3,064 17,657 8,067 -30,827
          Other assets -8,546 13,789 -366 2,644 -11,978 1,154 4,124 2,249 1,088 6,327
            Banks -592 1,212 -265 449 -835 58 -1,046 -762 633 2,387
            Other sectors -7,954 12,576 -101 2,195 -11,144 1,096 5,170 3,011 455 3,940
        Liabilities -322,271 -332,208 -94,261 -146,392 -52,661 -28,957 57,391 -158,213 -121,405 -109,981
          Trade credits 4,692 -6,974 -421 1,597 293 3,223 -4,205 251 280 -3,300
          Loans 5,080 -13,577 9,571 165 6,075 -10,731 25,190 14,520 -55,485 2,199
            Banks -9,942 -26,117 9,904 2,094 -15,074 -6,866 -24,968 15,735 -7,715 -9,168
            Other sectors 15,021 12,540 -334 -1,929 21,149 -3,865 50,158 -1,215 -47,770 11,366
          Currency and deposits -334,941 -308,254 -105,538 -148,653 -59,786 -20,963 35,950 -171,919 -66,764 -105,520
            Banks -335,030 -308,391 -106,524 -147,447 -60,148 -20,911 35,885 -172,075 -66,732 -105,469
            Other sectors 89 137 986 -1,206 362 -52 65 155 -32 -51
          Other liabilities 2,897 -3,403 2,126 500 758 -486 457 -1,065 564 -3,360
            Banks 220 887 560 300 80 -721 406 -382 1,022 -159
            Other sectors 2,677 -4,290 1,566 199 678 235 50 -683 -457 -3,200
    Reserve assets (net change)(2) -78,321 -36,530 16,652 -25,368 -38,969 -30,636 -60,958 -9,924 26,320 8,032

     
Notes: (1) In accordance with the Balance of Payments accounting rules, a positive value for the balance figure in the current account represents a surplus whereas a negative value represents a deficit. For the capital and financial account, a positive value indicates a net capital and financial inflow and a negative value indicates a net outflow. As increases in external assets are debit entries and decreases are credit entries, a negative value for net change in reserve assets represents a net increase and a positive value represents a net decrease.
     
  (2) The estimates on net change in reserve assets under the Balance of Payments framework are transaction figures. Effects from valuation changes (including price changes and exchange rate changes) and reclassifications are excluded.
     
  ... Transaction value is relatively insignificant (less than $10 million).