25 years after the wind and rain international financial center are getting brighter

(The 25th anniversary of the return of Hong Kong) 25 years after the wind and rain international financial center is getting brighter

China News Agency, Hong Kong, June 28 (Reporter Liu Chenyao) From the small town of Oriental with natural non -frozen ports to the world -renowned international financial center, the Hong Kong economy has gone through storms in the past 25 years.

The picture shows the Hong Kong Central, which is a financial institution. Photo by Zhang Wei, a reporter from China News Agency

After the return of Hong Kong, the financial center connotation is richer

Recalling his experience of studying Hong Kong and Macao finance at the Bank of China Institute of International Finance in China in 1997, E Zhihuan told reporters that at that time, the positioning of Hong Kong's financial industry was still "regional financial center", that is, it played a role in radiating Southeast Asia. Essence But when he came to Hong Kong to work as the chief economist of China Bank of China many years later, E Zhihuan was well versed, from the interconnection of the capital market, to the rapid development of offshore RMB business, and then to become an important financing and assets for domestic and foreign institutions The configuration platform, Hong Kong has already moved from the region to the world on multi -dimensional, and bears an international financial center with a certain global influence.

BOC Hong Kong Chief Economist E Zhihuan believes that with the support of the country as the second largest economy in the world, with the booming help of the Guangdong -Hong Kong -Macao Greater Bay Area, Hong Kong can better integrate into the overall national development situation with internal vitality with the support of the Guangdong -Hong Kong -Macao Greater Bay Area. In China, maintaining the long -term stability of the economy, the financial market is prosperous, and continuously adds development momentum to the international financial center. Photo by Chen Yongnuo, a reporter from China News Agency

According to data from the Hong Kong Financial Administration, the market value of Hong Kong's stock rose from HK $ 4.6 trillion in July 1997 to 38 trillion Hong Kong dollars in May 2022, 7 times; Hong Kong foreign exchange reserves were increased from about 80 billion U.S. dollars in 1997, and increased As of May this year, more than 460 billion US dollars, an increase of 4.7 times; assets and wealth management rolled 9 times from Hong Kong dollars in 1999 to 35 trillion Hong Kong dollars at the end of 2020.

"Before 1997, people could not think that one day in Hong Kong, it could do various businesses such as renminbi deposits, loans, and remittances. Today, when the market is the best, Hong Kong RMB deposits have exceeded 1 trillion yuan." From E Zhihuan's view, The allocation of multi -currency categories has become the world's largest offshore RMB business hub, and it is also a new connotation given to Hong Kong as an international financial center for "one country, two systems".

Xiangjiang has gone through a quarter of a century.

The road to economic development over the past 25 years is by no means a tantrum. From the Asian financial crisis in 1997 to the 2008 US subprime mortgage crisis, to the "repair storm" in 2019 and the crushing of the global economy of the new crown pneumonia today, there are also many in Hong Kong. Facing external shocks.

The picture shows Victoria Harbor. Photo by Zhang Wei, a reporter from China News Agency

According to Chen Maobo, director of the Financial Secretary of the Hong Kong Special Administrative Region, the reason why Hong Kong can pass through various crises is inseparable from the solid support and help of the motherland. "We experienced the" Black Storm "in 2019. Through the legislation of the Hong Kong National Security Law, we passed the perfect election system in 2021, and we can better concentrate on the economy, develop, and improve people's livelihood."

E Zhihuan believes that after bumpy, the status of Hong Kong's international financial center has been continued. It is nothing more than two pillars: first, the mainland and Hong Kong have continuously enhanced economic and trade connections, providing a steady stream of funds for Hong Kong; second, Hong Kong's good camps in Hong Kong; Business environment, simple low tax system, free capital port, judicial system in line with the West, high efficiency of financial supervision, and the most free economy.

Oriental Pearl builds the future with confidence

"So today's 25 years of return is a new stage of entering the history of Hong Kong's development. We are full of expectations." Chen Maobo, like the political and business circles interviewed, look forward to the future development of Hong Kong finance and confidence.

The picture shows the Hong Kong Trading Plaza. Photo by Zhang Wei, a reporter from China News Agency

Yu Weiwen, Chief Executive Officer of the Hong Kong Monetary Administration, told reporters that with the unique advantages of the motherland and internationally, the Hong Kong financial system has continued to develop steadily in the past two decades, becoming the leading international financial center. Looking forward to the future, he expects that the HKMA can seize new opportunities in the three aspects of interconnection, fintech and green finance with the Mainland, and continuously improve the competitiveness of the HKMA, and give full play to the financial advantages of Hong Kong.

E Zhihuan also believes that with the support of the country as the world's second largest economy, with the booming help of the Guangdong -Hong Kong -Macao Greater Bay Area, Hong Kong can better integrate into the overall national development situation with internal vitality and maintain long -term economy. Stable, the financial market is prosperous, and continuously adds development momentum to the international financial center. (Finish)

Source: China News Network

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