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FS welcomes IMF statement

November 29, 2017

Financial Secretary Paul Chan has welcomed the International Monetary Fund's reassuring forecast for Hong Kong and reaffirmation of the city's strong buffers and robust policy frameworks.


The Concluding Statement of the IMF Mission published today said Hong Kong is well placed to navigate through challenges given its strong buffers and robust policy frameworks, including ample fiscal reserves, strong financial regulatory and supervisory frameworks, and the Linked Exchange Rate System.


In response to the statement, Mr Chan said the Government will enhance its role in boosting economic vibrancy and promoting economic growth.


"With the Mainland continuing to be the growth engine of the world, the rolling out of the Belt & Road Initiative and the Guangdong-Hong Kong-Macao Bay Area development, in which Hong Kong plays a unique role, and the new and continuous impetus to be injected into the economy by the Government in its new proactive role, I have every confidence that Hong Kong's economic growth will continue to gather strong momentum."


Monetary Authority Chief Executive Norman Chan also welcomed the IMF's continued support for Hong Kong's Linked Exchange Rate System which underpins its economic stability.


"I am also pleased to note the mission's support for our work in capturing opportunities arising from the infrastructure financing and fintech space, as well as in building stronger financial ties with Mainland China."


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Asian financial Forum