Lawrence Cheung: The Linked Exchange Rate System is one of the key factors behind Hong Kong's economic success and will continue to be upheld

Blockbeats

06-09

BlockBeats News, June 9th - Carrie Lam, the Chief Executive of the Hong Kong Special Administrative Region of China, recently stated that Hong Kong will maintain the pegged exchange rate between the Hong Kong Dollar and the US Dollar. This is a key factor in Hong Kong's economic success and will not change due to escalating geopolitical tensions. However, Lam said that this does not mean that Hong Kong's financial system is entirely dependent on the linked exchange rate system. In the future, Hong Kong will strengthen its leading position as a global offshore RMB business center and provide more diversified products to drive more trade. She expects to introduce more RMB business products in the future to benefit overseas investors holding RMB. Hong Kong will also work to enhance HKD-RMB dual-currency trading, allowing investors to use offshore RMB to purchase RMB-denominated stocks listed in Hong Kong. (FX678)

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