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HKMA to Identify Risks Promptly w/ Flexible Response, Continue to Invest Prudently in Exchange Fund
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The Hong Kong Monetary Authority (HKMA) released its Annual Report for 2023 saying that the Hong Kong banking sector remained sound, and continued to be supported by strong capital and liquidity buffers, despite a number of challenges including a high interest rate environment, heightened volatility in global financial markets caused by the March banking turmoil in Europe and the US, and a slower-than-expected economic recovery in the Mainland and Hong Kong. Eddie Yue, the Chief Executive of the HKMA, envisaged that Hong Kong's economy would continue to recover moderately, according to Yue. Although there were still risks and uncertainties in the current peripheral environment, Yue believed that Hong Kong's financial system would be able to withstand adverse shocks with its solid anti-seismic ability and ample cushions built up over the years. The authority would be vigilant in seeking to identify risks quickly and respond to them flexibly in the future. In the face of a challenging investment environment, the HKMA will continue to invest prudently in the management of the Exchange Fund, while maintaining sufficient flexibility to take defensive measures as necessary, and to maintain a high level of liquidity. AAStocks Financial News |
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