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National security legislation creates safe business environment in Hong Kong: official

Abstract : A senior official on Wednesday highlighted the significance of the national security law in creating a safe business environment in Hong Kong, saying businesses from all over the world remain confident in the financial hub.

HONG KONG, May 12 (Xinhua) — A senior official on Wednesday
highlighted the significance of the national security law in creating a
safe business environment in Hong Kong, saying businesses from all over
the world remain confident in the financial hub.

The restoration of social and political stability in Hong Kong
through the national security legislation and improvements to the
electoral system has created a safe and secure environment conducive to
business and investment for global companies, said Paul Chan, financial
secretary of the Hong Kong Special Administrative Region government.

He made the remarks at a webinar with the Canadian political and business community.

In 2020, there were over 9,000 overseas and mainland companies
operating in Hong Kong, of which 1,500 had their regional headquarters
here, reflecting the companies’ confidence in Hong Kong, he said.

Chan also stressed that Hong Kong’s status as an international
financial center remains solid and its competitiveness is still strong.

“There have been rumors of fund outflows in the past two years, but
the reality is we have not seen any significant fund outflow from Hong
Kong’s banking system. On the contrary, a total inflow of 50 billion
U.S. dollars into the Hong Kong dollar system had been recorded as at
the end of last year,” he said.

Chan believed Hong Kong still has unique advantages under the “one
country, two systems” principle, the rule of law, and other
institutional strengths including an independent judiciary and the free
flow of information, people and capital.

Looking ahead, he said the 14th Five-Year Plan for national
socio-economic development affirms the upbeat prospects for Hong Kong’s
future.

With the support of the central government, Hong Kong’s integration
into national development creates a new impetus for its economic growth,
which enables improvements in the economy and people’s livelihood, Chan
said. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: National security legislation creates safe business environment in Hong Kong: official

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