CHINA HKSAR chief executive says no obvious capital outflow seen in Hong Kong

CHINA

HKSAR chief executive says no obvious capital outflow seen in Hong Kong

Xinhua

10:40, May 26, 2021

A Star Ferry boat crosses Victoria Harbour in front of a skyline of buildings in Hong Kong, China, June 29, 2020. (Photo: Agencies)

HONG KONG - Carrie Lam, chief executive of the Hong Kong Special Administrative Region (HKSAR), said on Tuesday that there is no obvious capital outflow witnessed in Hong Kong.

Lam told the media before attending an Executive Council meeting that a survey released earlier by the American Chamber of Commerce in Hong Kong said 42 percent of the companies surveyed were considering leaving Hong Kong, but the HKSAR government has not seen any significant capital outflow from Hong Kong, and the local stock and financial markets have remained stable.

Lam said that more than 9,000 enterprises from the mainland and overseas have set up offices in Hong Kong, many of which are serving as their regional headquarters. This has fully shown businesses from all over the world have confidence in Hong Kong.

Despite the impact of the COVID-19 epidemic and the previous social unrest, Hong Kong's financial market still operates well by leveraging the advantages of "one country, two systems", the rule of law, judicial independence and free flow of information, talent and capital, she said.

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