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HONG KONG Cheap Mike Hoffman Jersey , July 31 (Xinhua) -- The total assets of Hong Kong's exchange fund amounted to 3.90 trillion HK dollars (about 499.9 billion U.S. dollars) at the end of June, which was 97.5 billion HK dollars more than the total at the end of May, the Hong Kong Monetary Authority (HKMA) said here on Monday.


Foreign currency assets increased by 75 billion HK dollars and Hong Kong dollar assets increased by 22.5 billion HK dollars, the HKMA said.


The rise in foreign currency assets was mainly due to an increase in unsettled purchases of securities and the purchase of foreign currencies with Hong Kong dollars, the HKMA said.


The rise in Hong Kong dollar assets was mainly due to additional placements from fiscal reserves, which were partly offset by sale of Hong Kong dollars for foreign currencies, according to the HKMA.


The monetary base at the end of June was 1.66 trillion HK dollars, up by 6.4 billion HK dollars, or 0.4 percent from the end of May, the HKMA said.


Xi reviews parade in field for first time


Military parade held to mark PLA 90th birthday


Typhoon Haitang lands in east China's Fujian


Sculpture plaza in E China marking PLA founding open to public


Military parade held to mark PLA 90th birthday (Part I)


Martial arts competition held in China's Henan


Int'l Army Games 2017 held in NW China


Triplet giant pandas celebrate 3rd birthday in S China's Guangzhou

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Author's Resource Box

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BEIJING, Sept. 14 (Xinhua) -- China's National Copyright Administration (NCAC) has told music companies to stick to market rules and international practice to widen licensing and spread online music.


Companies must work together to avoid giving exclusive music copyright to online music providers, the NCAC said in a talk with over 20 major music companies from home and abroad on Thursday.


The administration underlined the laws and international conventions on copyright, warning companies against any infringement.


Music companies must not allow online music providers to bid up licensing prices, and must support the work of copyright organizations to protect the rights of copyright holders, especially lyricists and songwriters.


They should also set up a more effective framework for licensing, cooperation and operation of online music copyright to improve order and for the industry to prosper, the NCAC said.


With the support of music companies in tasks such as preventing copyright infringement, a NCAC campaign started in 2015 to regulate online music copyright has been effective, according to the administration.


However, problems including the unreasonable vying for exclusive copyrights, bidding up licensing prices and using music without permission have emerged, requiring further effort from all parties involved.


China, Brunei to boost ties


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