Commissioner's Office: Hong Kong's status as a global financial hub is rock-solid and all intimidation will fall through
2021/09/27

On September 27, the HKSAR government released the "Report on Hong Kong's Business Environment: A Place with Unique Advantages and Unlimited Opportunities". The spokesperson of the Office of the Commissioner of the Ministry of Foreign Affairs of China in the HKSAR said that the report shows that Hong Kong's business climate remains energetic with detailed information, solid data and irrefutable facts. 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 pointed out that Hong Kong is world-known for its most free, open and competitive business environment. However, in recent years, especially during the turbulence over the legislative amendment bill, anti-China, destabilizing forces Hong Kong instigated black violence and mutual destruction, clamored for "Hong Kong independence", challenged the bottom line of One Country, Two Systems, and colluded with external forces to disrupt Hong Kong. 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 US emboldened anti-China elements in Hong Kong, interfered in China's internal affairs, and imposed unilateral sanctions against Hong Kong. It did not stop there. The US also revoked Hong Kong's special status, vilified Hong Kong's business environment, and issued a so-called "Hong Kong Business Advisory". Their purpose has been laid bare - to disarray Hong Kong and use Hong Kong to contain China. 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 United States proclaims to support Hong Kong, yet intimidates the foreign investors in Hong Kong. It is playing the trick of a thief crying "stop thief". Why the double standard?

The spokesperson stated that with the implementation of Hong Kong national security law and the improvement of its electoral system, Hong Kong has transformed from chaos to stability. Tranquility has been restored to Hong Kong, economic development back on track, and its governance improved. All sectors in Hong Kong, not least the finance, now enjoy a sound momentum of growth. Capitals raised in Hong Kong surpassed 500 billion Hong Kong dollars over the year after the implementation of the national security law, 50% higher than the previous 12 months before the implementation of the law. The average daily turnover in the Hong Kong stock market reached 160 billion Hong Kong dollars, up by nearly 70% before the adoption of the law. A large number of financial institutions in Hong Kong are expanding their business and hiring more staff. A report released by the International Monetary Fund in July also reaffirmed Hong Kong's status as an international financial hub. These numbers represent the "votes of confidence" of the international business community to Hong Kong's future. The so-called "Hong Kong Business Advisory" put forward by the US could blackmail neither international investors nor the Chinese people. It only makes the world see more clearly the American hypocrisy and leaves another "eternal stain" on its already crumbling credibility.

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. Hong Kong has the strong backup of the central government, with the recent Southbound Trading under Bond Connect being a testimony. Going forward, Hong Kong has many more opportunities to enjoy from the 14th five-year Plan, the Greater Bay Area,and major platforms such as Qianhai and Hetao. To all global investors: Hong Kong is a place you must not miss!

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