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Treasury chief eases market concerns

February 11, 2016

Secretary for Financial Services & the Treasury Prof KC Chan says Hong Kong's linked exchange rate system can cope with large-scale capital outflows.

 

"It is a very credible system and has been in place for a long time, and we are very transparent in the mechanism and of how it works," Prof Chan told reporters today.

 

He noted that given the banking system's ample liquidity and large aggregate balance, Hong Kong can take a lot of capital movement, including capital moving out of Hong Kong.

 

Prof Chan added that any kind of foreign exchange market activity that causes the Hong Kong Dollar to be changed and capital to move out of Hong Kong would not affect the way the system operates.



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