settlement currency
1.In Hong Kong, the monetary base includes the amount of bank notes and coins issued, the balance of clearing accounts of the licensed banks held with the HKMA for the account of the Exchange Fund for the purpose of effecting the clearing and settlement of transactions between the banks themselves and also between the currency board and the banks (the Aggregate Balance), and the outstanding amount of Exchange Fund Bills and Notes.
2.A good job should be done in the special inspection of enterprises, foreign exchange purchasing and settlement, and efforts should be made to crack down on such illegal activities as foreign exchange control evasion, currency arbitrage, the withholding of foreign exchange and black market trading of foreign exchange.
3.We should strengthen the system of exchange settlement and sales, ban illegal foreign exchange transactions and severely deal with all cases of obtaining foreign exchange under false pretenses, not turning over foreign currency owed to the government and illegal arbitrage of foreign exchange.
