After the implementation of the Prohibition of Masks Ordinance, there are views on whether the Government will adopt the “Emergency Law" to introduce capital controls
There are also many rumors that the HKMA will introduce the “Withdrawal Law" to restrict the withdrawal of public funds. Officials have clarified on different occasions in the past few days to stabilize confidence. The news pointed out that the Vice President of the HKMA, Guo Guoheng, reiterated in a closed-door forum that capital control will not be implemented.
The Financial Secretary, Chen Maobo, earlier emphasized in the closed forum of the Private Wealth Management Association that Hong Kong does not currently implement capital controls and will not implement it in the future
It is reported that Guo Guoheng also revealed in the forum that since last Friday, People from all countries who are concerned about the situation in Hong Kong explain the situation in Hong Kong and reiterate that Hong Kong funds can enter and exit freely. At the meeting, I was asked about the destruction of Chinese bank branches and ATMs. Yan Guoheng said that the destruction was difficult to stop, but thanked the bank staff for repairing overnight, so that the bank could resume business after the holidays.
Transfer of assets leaving Hong Kong is on the rise
Yang Yuxi, chief economist of ANZ Greater China, said that Hong Kong’s financial system is sound and the linked exchange rate system is functioning effectively. However, any central bank system is based on public confidence, and recent rumors are flying all over the world. Financial officials must issue clear messages and stabilize the local policy. confidence.
The HKMA pointed out on the social networking website that it had clarified a number of rumors. However, the “Liquidity Funding Arrangement" and the “Capital Restriction" were passed on the Internet to remind the public that “it is important to face the old Fact Check". In addition, Bloomberg quoted Shanker Iyer, executive director of IQ-EQ Asia, which manages assets of $450 billion in family offices, revealed that recent inquiries about diverting assets from Hong Kong have increased, and some originally hoped to come to Hong Kong to change their minds. It seems to be a more friendly place for business. Serge Krancenblum, executive chairman of the IQ-EQ Group, said that whether the legal system in Hong Kong will change by 2047 is another factor that concerns the family office.