China News Service, Hong Kong, June 20. The Chief Executive of Hong Kong Special Administrative Region Carrie Lam said on the 20th that the past two years have fully demonstrated that the city of Hong Kong can withstand storms and that Hong Kong, as an international financial center, has not been damaged in the slightest.
Carrie Lam made the above remarks in a video speech at the 2021 Phoenix Network (Summer) Financial Summit.
Lam Cheng Yuet-ngor pointed out that although Hong Kong has experienced unprecedented severe challenges in the past two years, it has relied on the strong support of the central government, including the Hong Kong National Security Law enacted by the Standing Committee of the National People's Congress last year and the improvement of Hong Kong’s electoral system this year, which restored Hong Kong’s social stability. And political security.
She believes that these two major measures and the continuous improvement of the system of the SAR government have allowed the implementation of "one country, two systems" to return to the right track and opened a new stage for the further development of Hong Kong.
"Hong Kong's robust and mature regulatory system and rigorous risk management measures have enabled Hong Kong's financial system to show extraordinary resilience and stability in difficult times." Carrie Lam said that the linked exchange rate system has been working well as always, the stock market is booming, and the Hong Kong dollar market A net inflow of funds was recorded last year, reflecting the continued interest and confidence of investors in the Hong Kong capital market.
She pointed out that Hong Kong’s banking system remains robust, with total deposits increasing by 5.4% in 2020 compared to the previous year. The liquidity and capital adequacy ratios of major banks are much higher than international regulatory standards; other sectors of the financial services industry, such as the insurance market, Orderly operation.
Lam Cheng Yuet-ngor believes that Hong Kong can play a key role in the country’s financial development, including helping the internationalization of the renminbi, providing reliable and diversified financing services for mainland enterprises, providing parking and management services for mainland funds outside the country, and playing a risk management center Function etc.
She also pointed out that Hong Kong has always been a part of the country's reform and opening up process, providing funds, technology and talents for the country's development.
Now that national security is guaranteed, the electoral system is improved, and the governance of the SAR is expected to be effectively improved.
"With the strong support of the central government, the SAR government will dare to act and assume responsibility, use its own strengths to serve the needs of the country, and to inject new impetus into Hong Kong's economic development." said Lam Cheng Yuet-ngor.
(Finish)