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Friday, June 05, 2020, 19:41
PBOC says it supports HKSAR's role as a financial center
By Agencies
Friday, June 05, 2020, 19:41 By Agencies

China’s central bank has said that it will unswervingly support Hong Kong’s role as an international financial center.

The People’s Bank of China will work to maintain “Hong Kong’s economic and financial stability and prosperity,” according to a statement posted late Thursday on the institution’s website. The PBOC said it resolutely supports the national security legislation for Hong Kong, which will protect national security in the special administrative region.

READ MORE: Finance chief: HK well-prepared, fearless in face of US threats

China’s banking and insurance regulator issued a similar statement, saying that any actions hurting Hong Kong’s financial prosperity and stability would be against the interests of all foreign financial institutions, including US ones. The China Banking and Insurance Regulatory Commission said it hadn’t seen any abnormal outflows from the city and its currency peg is stable.

ALSO READ: SAR will continue to maintain its global financial center status

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