The government of Hong Kong Special Administrative Region recorded a surplus of 9 billion HK dollars (115 million U.S. dollars) in April, the Financial Services & the Treasury Bureau said on Tuesday.

According to a government press release, the government saw revenue of 29.7 billion HK dollars (3.8 billion U.S. dollars) and expenditure of 20.7 billion HK dollars (2.65 billion U.S. dollars) in April.

The surplus was mostly attributed to land premiums and salaries tax.

About 12.7 billion HK dollars (1.63 billion U.S. dollars) in land premiums were collected in the month, mainly from private treaty grants for railway projects.

The surplus has pushed fiscal reserves to 319.6 billion HK dollars (40.97 billion U.S. dollars).

Source: Xinhua