Illuminated buildings are seen from Victoria Peak at night in Hong Kong on Aug 28, 2019. (PAUL YEUNG / BLOOMBERG)

Hong Kong will remain competitive and maintain its status as a leading international financial center, a spokesman for the city’s Financial Services and the Treasury Bureau said on Tuesday.

The spokesman made the comments in response to Japanese Finance Minister Taro Aso’s claim on the same day that “Hong Kong is losing its appeal as a financial hub”.

ALSO READ: Experts: Ant's IPO to enhance HK's fundraising reputation

Hong Kong has the institutional strengths of an international financial center and robust underlying fundamentals with effective and transparent regulations that are in line with international standards, the spokesman said

Hong Kong has the institutional strengths of an international financial center and robust underlying fundamentals with effective and transparent regulations that are in line with international standards, the spokesman said.

“We also have a large pool of financial talents and a full range of financial products. These competitive edges will continue to sustain Hong Kong's status as a leading global financial center,” he said in a reply to China Daily.

Hong Kong will continue to capitalize on the unique advantages of its financial system under “one country, two systems”. 

ALSO READ: Strong HK role seen in 14th Five-Year Plan

“We will step up our efforts in promoting Hong Kong's role as a leading financial center in the world and the two-way gateway between the Chinese mainland and international markets.” 

He said Hong Kong will also leverage the enormous opportunities presented by the Guangdong-Hong Kong-Macao Greater Bay Area and the Belt and Road Initiative to develop the city into a broader and deeper fundraising platform, and further enhance Hong Kong's position as a center for asset and wealth management, offshore Renminbi business, insurance and risk management as well as green and sustainable finance, and promote the development of financial technology.

READ MORE: HK finance chief: City to gain from mainland boost