Press Releases in Hong Kong

Commissioner’s office: HK’s financial hub status ‘rock-solid’

This Nov 17, 2016 photo shows the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region (HKSAR) in Central. (PARKER ZHENG / CHINA DAILY)

HONG KONG – Hong Kong's business climate remains energetic and its position as a global financial center remains firm, as illustrated by a report issued by the special administrative region’s government on Monday, said the Office of the Commissioner of the Ministry of Foreign Affairs of China in the HKSAR. 

A spokesperson for the office made the remarks in a statement following the release of the "Report on Hong Kong's Business Environment: A Place with Unique Advantages and Unlimited Opportunities" by the HKSAR government. 

The report shows that Hong Kong's business climate remains energetic with detailed information, solid data and irrefutable facts, said the spokesperson. 

A spokesperson for the office stressed that Hong Kong's business environment has been dynamic over centuries for its special strengths and it also enjoys great potential to unlock 

“It illustrates Hong Kong's firm position as a global financial center, rebuts the doomsaying from some Western countries, including the US, about Hong Kong's business conditions, and boosts the confidence of the international business community for investment in Hong Kong,” the spokesperson added.

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The spokesperson pointed out that Hong Kong is world-known for its most free, open and competitive business environment.

However in recent years, anti-China forces clamored for "Hong Kong independence", challenged the bottom line of "one country, two systems" and colluded with external forces to disrupt Hong Kong, said the spokesperson.

"These acts have seriously endangered national security and Hong Kong's stability, trampled on the international rule of law, and dealt a heavy blow to Hong Kong's economy and people's livelihood," the spokesperson said.

"Facts show that the elements who aim to disrupt Hong Kong and the anti-China forces behind them are the chief culprits in adversely impacting Hong Kong's economy and its business ecology," the spokesperson added. 

The spokesperson said that with the implementation of the National Security Law for Hong Kong and the improvement of its electoral system, the SAR has transformed chaos to stability. 

All sectors in Hong Kong, not least the finance, now enjoy a sound momentum of growth, said the spokesperson.

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Capitals raised in Hong Kong surpassed HK$500 billion over the year following the promulgation of the National Security Law for Hong Kong, 50 percent higher than the previous 12 months before the implementation of the law, according to the statement.

The average daily turnover in the Hong Kong stock market reached HK$160 billion, up by nearly 70 percent before the adoption of the law, it added.

"These numbers represent the 'votes of confidence' of the international business community to Hong Kong's future," reads the statement.

The spokesperson stressed that Hong Kong's business environment has been dynamic over centuries for its special strengths and it also enjoys great potential to unlock. 

“With the advantages of a free port, a robust financial system, smooth capital flow, abundant human resources and a sound legal system, Hong Kong will play a unique role in integrating itself into the overall national development under 'one country, two systems',” the spokesperson said.

Hong Kong has the strong backup of the central government, with the recent Southbound Trading under Bond Connect being a testimony, the spokesperson added.