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Paul Chan: Govt will focus on maintaining HK's competitiveness

Financial Secretary Paul Chan Mo-po said the government would strike a balance between the fight against the epidemic, boundary re-opening and international exchanges. (DotDotNews)

Financial Secretary Paul Chan Mo-po, who will be transitioning to the new administration, said the government would strike a balance between the fight against the epidemic, boundary re-opening and international exchanges. He also admitted that there is a brain drain in Hong Kong, but felt that HK is still a place with room for development.

In an interview with the media, Chan said the new administration will focus on the areas of "combating the epidemic, boundary re-opening and international exchanges" and will seek to strike a proper balance to maintain HK's competitiveness.

In addition to the epidemic, Chan said a risk plan has been formulated to monitor the market for prevention since the external financial market environment has become very stormy.

As for the call to decouple the HK dollar from the US dollar, Chan said the linked exchange rate has been effective for a long time and is the most suitable and best currency system for HK, and he has no intention to conduct any review.

Asked about some HK people losing confidence in the city and emigrating, Chan likened HK to a family, "It's not surprising that opinions are not always the same in a family." Chan admitted that there is a brain drain in HK and that the government would provide more career opportunities and strengthen the training of young talents in the future.

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