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Link DetailsFS welcomes IMF report Financial Secretary Paul Chan today welcomed the International Monetary Fund?s latest report, which reinforced its November assessment of Hong Kong?s economic and financial positions.
The IMF noted the city was well positioned to navigate external and domestic challenges, helped by strong fiscal reserves and robust regulatory and supervisory frameworks, which have been strengthened in the past decade.
"With our strong fiscal and financial buffers as well as the robust policy frameworks in place, I am confident Hong Kong can sail through challenges ahead. The Government will play a more active role as a facilitator to promote diversified economic growth,? Mr Chan said.
?We will strive to enhance the quality and competitiveness of Hong Kong's markets, in order to reinforce our status as an international financial centre and a premier capital raising centre, and to capitalise on the opportunities presented by major development strategies, including the Belt & Road Initiative and the Guangdong-Hong Kong-Macao Bay Area Development.
?Looking ahead, Hong Kong will continue to benefit from the stable economic growth of the Mainland of China and the opening up of the Mainland's financial markets."
The IMF also said it continues to support the Linked Exchange Rate System, which remains the best arrangement for the city.
Monetary Authority Chief Executive Norman Chan said the IMF?s continued support for the system validates its robustness and its importance to the economic and financial stability of Hong Kong.
Click here for the report. |
