Hong Kong Monetary Authority (HKMA) announced Monday that the official foreign currency reserve assets of Hong Kong amounted to 120.1 billion US dollars at the end of May 2004.

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of May 2004 also stood at 120.1 billion US dollars.

In terms of foreign currency reserves ranking, Hong Kong is the world's fifth largest holder of foreign currency reserves, after Japan, Chinese mainland, China's Taiwan and the Republic of Korea.

The total foreign currency reserve assets of 120.1 billion US dollars represent over six times the currency in circulation or 45percent of Hong Kong dollar M3, it said.

Source: Xinhua