This March 2, 2009 photo shows HSBC's HK$100 banknotes in Hong Kong. (MIKE CLARKE / AFP)

HONG KONG – The Hong Kong government recorded a HK$29.4 billion surplus for the year ending March 31.

In a statement, the government said expenditure was at HK$693.3 billion and revenue at HK$693.6 billion, resulting in a surplus for the period after receipt of net proceeds of HK$29.1 billion from the issuance of green bonds under the Government Green Bond Programme.

The city’s fiscal reserves stood at HK$957.2 billion as of end-March.

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