The Chief Executive of the Hong Kong Monetary Authority (HKMA), Eddie Yue, met with top bankers and financiers in New York today (April 12, New York time) on his way to the Spring Meetings of the World Bank Group and the International Monetary Fund in Washington DC.
Speaking at the luncheon co-hosted by the Hong Kong Economic and Trade Office in New York and the National Committee on United States-China Relations, Yue said that the banking and financial system in Hong Kong is robust and resilient and is well equipped for challenges. Hong Kong's currency peg against US dollars has provided the much-needed stability for an open and external-oriented economy. The Government launched different measures to drive domestic demand through consumption vouchers and the provision of financial support for small and medium enterprises. The economy of Hong Kong is on the track to recovery.
"Hong Kong plays a significant and ever-growing role in the two-way opening up of the Mainland financial markets. Broadening the scope of Southbound Stock Connect to include foreign companies with primary listings in Hong Kong and the inclusion of more Mainland companies in Northbound Trading are but two examples," Yue shared during the enthusiastic discussions about embracing opportunities in the future.
"We look forward to working closely with our counterparts around the world to capitalize on these exciting developments," he added. Yue also emphasized to participants that "Hong Kong is back", and the city was ready to welcome global visitors to experience its energy and vibrancy.
The National Committee President, Stephen Orlins, who moderated the discussion, underscored that in-person interactions between the HKMA and Americans were of great importance and would lead to a more constructive relationship between the peoples of Hong Kong and the United States.
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