China News Agency, Hong Kong, June 28-The National People's Congress Standing Committee's work on Hong Kong's national security legislation has entered the final stage. Chen Maobo, the Financial Secretary of the Hong Kong Special Administrative Region Government, said through his blog on the 28th that national security is a real and urgent issue. He believes that after the national security legislation involving Hong Kong, Hong Kong will soon restore social and political stability and usher in broader and greater opportunities for development.
Chen Maobo said that from the development of the international political stage in recent years, the country is facing a very complex external environment, and national security is a real and urgent issue that cannot be avoided. The SAR Government is duty-bound and irresponsible on this issue of right and wrong.
He revealed that during this period, the accountability team of the SAR Government has been in close contact with different industries, explained the questions about the legislation, and better grasped the reactions and concerns of different sectors. He revealed that financial sectors such as banks and wealth management generally agree with the needs of Hong Kong-related national security legislation and believe that it will help Hong Kong society restore order and law and order. In terms of capital flow, the industry said that there has been no significant capital outflow so far.
According to market data, the Hong Kong exchange rate continues to be close to the strong side zone of 7.75 to one dollar. Since April this year, the Hong Kong exchange rate has repeatedly touched the strong side exchange guarantee, which requires the Monetary Authority to enter the market many times to undertake the dollar sell order. HK$57 billion in funds, and the Hong Kong interbank rate also continued to be low. Chen Maobo said that all the circumstances indicate that Hong Kong continues to have a net inflow of funds, and the market liquidity is very abundant.
Chen Maobo believes that after legislation involving Hong Kong’s national security, Hong Kong will soon restore social and political stability and usher in broader and greater opportunities for development. On the one hand, the foundation of "one country, two systems" will be more stable, and Hong Kong can play a more active role in the country's continuous opening and deepening of reforms. On the other hand, the global political and economic landscape shows a new situation, shifting from the unitary unit structure of the United States to a more diversified development, the global economic center of gravity shifts westward to the east, and the mainland and developing Asia can provide Hong Kong with a huge and dynamic momentum outside of Europe and the United States. Market.
In addition, Chen Maobo also mentioned that the United States has provoked the so-called “sanctions” through Hong Kong’s national security legislation, which has caused the market to pay attention to the impact of the US-proclaimed measures. Clear factors. He said that the SAR Government has made a comprehensive assessment of this and made relevant contingency plans. (Finish)