Hong Kong's Secretary for Financial Services and the Treasury Christopher Hui said today (March 30) that while the government is implementing measures to combat the epidemic, it is also committed to connecting with the domestic and oversea markets and has introduced many measures to attract global institutions and financial talents to expand their business.
Hui pointed out that the financial market in HK is stable and the investment and trading market is active under the epidemic.
The average daily turnover of the stock market since March is around HK$180 billion, and the average daily trading volumes of the Shanghai-Shenzhen-Hong Kong Stock Connect and the Northbound Scheme under Cross-boundary Wealth Management Connect are over RMB 100 billion and HK$42 billion respectively, higher than the figures in the fourth quarter of last year, he said.
He stressed that the Hong Kong market has a strong and stable foundation, and there are no risks or systemic problems in transactions and payments, saying the government will continue to monitor the market closely.
He added that the government has provided assistance to enterprises through the "Anti-epidemic Fund," and the latest employment support scheme has provided support to affected SMEs, as well as measures to alleviate the pressure on the accounting profession and other sectors under the epidemic.
Noting that fintech and sustainable finance are new trends in the development of the global financial industry, Hui said it is necessary to attract more overseas talents to HK while the city is stepping up efforts to nurture local talents.
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