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Electric car supply key to transition

(To watch the full press conference with sign language interpretation, click here.)   The roadmap on the popularisation of electric vehicles to be announced next month will be a clear signal for car manufacturers and suppliers to prepare for the transition by increasing supply, Secretary for the Environment KS Wong said today.   At a press conference on the 2021-22 Budget initiatives this morning, Mr Wong pointed out that Hong Kong's target of phasing out conventional petrol private cars in 2035 or earlier was progressive.   “Regarding the phasing out of conventional private vehicles, our target is actually the most progressive in Asia, you have to understand that. And our target is that we would like to set the target of 2035 as the deadline.”   He noted that a good supply of electric vehicles in the private car industry will be a key factor during the transition.   "The meaning of that 2035 is to set a clear signal to car manufacturers and suppliers to Hong Kong th

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Foreign currency reserves up

Hong Kong's foreign currency reserve assets rose to US$493.5 billion in January from December's US$491.8 billion, the Monetary Authority announced today.   The reserve assets represent over six times the currency in circulation or about 48% of Hong Kong dollar M3.   There were no unsettled foreign exchange contracts in January.
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