China News Service, July 28. According to the Hong Kong Business Daily, at a media meeting held on the 28th, the Financial Secretary of the Hong Kong Special Administrative Region Government, Chen Maobo, said that the Federal Reserve raised interest rates again, affecting the flow of global capital, but the fundamentals of Hong Kong's economy Solid, well-stocked, and capable of dealing with external shocks.

Regarding Hong Kong's economic forecast for the second half of the year, he believes that if the epidemic is generally under control, coupled with the effect of consumer coupons, Hong Kong's economic performance in the second half of the year will be better than the first half.

  Chen Maobo said that Hong Kong's financial system is stable and capable of handling the inflow and outflow of a large amount of funds. Under the tightening of monetary policy by the United States over the past period of time, Hong Kong's financial system has been operating smoothly and orderly, and there has been no confusion.

The liquidity adequacy ratio of Hong Kong banks reached 158%, higher than the international requirement of 100%, and the capital adequacy ratio reached 20%, which was also higher than the international requirement of 8%. The bad debt provision ratio at the end of May was about 0.98%, which was at a low level, reflecting Hong Kong's banking system remains very robust.

  Chen Maobo said that the increase in US interest rates and the tightening of monetary policy by many European central banks in the face of high inflation will drag down Hong Kong's export performance.

The interest rate hike will increase the operating costs of some companies, and asset prices will also fluctuate or even adjust, which may affect local consumer sentiment.

If the epidemic is generally under control, coupled with the effect of consumer coupons, the economic performance in the second half of the year will be better than that in the first half of the year.