Press here to Skip to the main content
Font Size
Default Font Size Larger Font Size Largest Font Size RSS Subscription Advanced Search Sitemap Mobile/Accessible Version 繁體 简体

HK prepared for Brexit

June 24, 2016

Financial regulators have been preparing for the possibility of Brexit and have conducted stringent stress tests in recent weeks.


Financial Secretary John Tsang made the statement today telling reporters financial institutions were reminded of the importance of prudent risk management.


He said the market operated in a smooth and orderly manner today after the UK referendum said yes to Brexit, and Hong Kong dollar exchange rates and interest rates remain stable.


"Brexit will no doubt cause disruptions to international trade and financial markets, and that will further weaken the global economy, which is already facing strong headwinds. These volatilities and uncertainties will have an impact on Hong Kong's trade, as well as on financial markets.


"But that said, with our sound economic fundamentals, our robust regulatory regime, strong banking sector and healthy fiscal position, I am confident that we have the experience, we have the determination and we have the will, as well as capability, to tackle the challenges ahead."


The Government will monitor the situation closely, he added.