Li Jiachao: The pegged exchange rate system is one of the key factors in Hong Kong's economic success and will continue to be maintained."
Internet reports that Chief Executive Li Jiachao recently stated that Hong Kong will maintain a pegged exchange rate pegged to the US dollar. This is one of the key factors for Hong Kong's economic success and will not change due to the escalation of geopolitical tensions. However, Li Jiachao said that this does not mean that Hong Kong's financial system relies entirely on the linked exchange rate system. In the future, Hong Kong will strengthen its dominant position as a global offshore RMB business center and provide more diversified products to drive more trade. He hopes to launch more RMB business products in the future to benefit overseas investors holding RMB. He will also strive to strengthen the Hong Kong-RMB dual-counter trading model and allow investors to purchase RMB-denominated stocks listed in Hong Kong in offshore RMB. (Jin Shi)
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