Hong Kong Financial Secretary Chen Maobo: U.S. sanctions have a substantial impact on Hong Kong’s economy. The National Security Law plays a significant role in social stability
On the 19th, the Hong Kong Financial Secretary Chen Maobo published an article saying that although the US sanctions against Hong Kong have caused some doubts in the market, the actual impact on the economy is limited.
Chen Maobo pointed out that after the implementation of the National Security Act in the Hong Kong District, Hong Kong’s financial market remained stable and orderly, and the exchange rate of the Hong Kong dollar was stable and favored the strong exchange guarantee level. The banking system shows no obvious signs of capital outflows. On the contrary, more than US$11 billion of funds have flowed into the Hong Kong dollar system since June, and total deposits in the banking system have also continued to rise in the past few months. The stock market is active and orderly, and the market has responded enthusiastically to a series of public offerings.
He believes that the implementation of the National Security Law in the port area will obviously play a role in stabilizing society. Convinced that with the passage of time and the efforts of all parties, the facts will prove that national security, prosperity and stability, market vitality and other factors can be taken into consideration at the same time, and can also allow enterprises operating in Hong Kong to have a more solid operating foundation and broader development. space.
Chen Maobo also said that "one country, two systems" will be implemented flexibly in Hong Kong, giving Hong Kong the benefits of "one country, two systems" at the same time, and can seize the huge opportunities brought about by the continuous reform and opening up of the Guangdong-Hong Kong-Macao Greater Bay Area and the mainland. (Headquarters reporter Jin Dong Zhou Weiqi)