Hong Kong in quest of nearer integration with mainland China, Lam says

© Reuters. FILE PHOTO: Hong Kong Chief Executive Carrie Lam speaks at a ceremony marking the Nationwide Security Training Day in Hong Kong, China April 15, 2021. REUTERS/Lam Yik

SHANGHAI (Reuters) – Hong Kong’s technique to toughen the city’s world monetary hub inform is thru higher integration with mainland China, now that Beijing has helped restore “stability” in the city, Chief Executive Carrie Lam acknowledged on Sunday.

    Contributing to China’s monetary reform and opening will inject unusual vigour into Hong Kong’s economy, Lam suggested a monetary dialogue board in Beijing.

    Worries have been rising among many non-Chinese language merchants in Hong Kong over what they look as vanishing rights and freedoms in the city after Beijing’s imposition of a sweeping nationwide security law per mass 2019 protests.

    The worn British colony’s high stage of autonomy from Beijing, including an self ample judiciary, method the bedrock on which it has flourished as a world hub. Whereas many merchants unruffled look safe admission to to the wide China markets as an significant method, others have been reconsidering their presence in Hong Kong.

    Lam acknowledged Hong Kong can play key roles in selling China’s monetary pattern, including facilitating yuan internationalisation, serving to finance mainland companies, and offering an offshore safe haven for Chinese language cash.

    “Hong Kong has never been absent from the nation’s reform and opening, offering capital, know-how and talents,” Lam acknowledged.

    The city “will abet China’s wants whereas injecting unusual vigour into Hong Kong’s economy.”

    Hong Kong will comprise opportunities created by China’s opinion to integrate Hong Kong, Macau and segment of Guangdong in a pattern zone, Lam acknowledged.

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