This year marks the 6th anniversary of the implementation of the Hong Kong National Security Law. In a recent media interview, the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Mr. Hui Cheng yu, stated that financial security is an important part of national security. Hong Kong has established a sound financial risk identification mechanism, and the "safe harbor" function is becoming increasingly prominent. This understanding did not come out of thin air, but was the result of accumulated practice over the past six years. Xu Zhengyu explained that national security covers multiple levels such as financial security, and various fields are interrelated. Any risk may have a chain effect. Therefore, maintaining national security requires both a global awareness and early identification of risks and deployment. He stated that based on this concept, Hong Kong has established a comprehensive mechanism in recent years, which can timely identify financial risks such as on exchange and off exchange markets, cross asset classes, etc., and intervene proactively when necessary. This mechanism is not static, but continuously optimized and vigilant to ensure timely understanding of the impact of international market changes on Hong Kong. Despite the increasingly tense geopolitical situation and intensified global market volatility, Hong Kong's stock, bond, foreign exchange and other markets continue to operate smoothly. In Xu Zhengyu's view, high-level security and high-quality development are complementary - the former provides protection for the latter, while the latter provides solid guarantees for the former. It is precisely this ability to maintain stable operation in the face of risks that has made Hong Kong's "safe haven" function increasingly prominent. He pointed out that under the accelerated evolution of the current major changes, enterprises, individuals, and families all hope to achieve diversified asset allocation. Under the strong guarantee of national security, Hong Kong has a high-quality investment and asset management platform, and is actively expanding asset categories such as commodities and gold to meet the demand for external funds. He cited data to illustrate that the Hong Kong New Investment Immigration Scheme has attracted over 3000 applications since its launch, involving investments of over HKD 90 billion; The assets under management in Hong Kong have exceeded 4 trillion US dollars. This reflects Hong Kong's ability to safely increase its capital value and consolidate its position as an international financial center in the complex and ever-changing global environment. We should play a more proactive role and demonstrate our emphasis on national security and financial security. ”Looking ahead, Xu Zhengyu stated that national security is not only a part of risk management, but also a part of market development. As long as we keep our bottom line and fulfill Hong Kong's role as a safe haven for funds, we can continue to meet the needs of global investors and expand our circle of friends in the international market, building a more comprehensive barrier for national security. (New Society)
Edit:He Chuanning Responsible editor:Su Suiyue
Source:ChinaNews
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