Yu Weiwen: Hong Kong's foreign exchange and currency markets operate smoothly, and the economy and asset market remain resilient

The Zhitong Finance App learned that while attending the meeting of the Committee on Financial Affairs, Yu Weiwen, Chief Executive of the Hong Kong Monetary Authority, said that the Hong Kong financial market continues to operate smoothly and respond strongly to challenges. He pointed out that against the backdrop of interest rate hikes by the Federal Reserve and rising interest rates on global long-term bonds, the global monetary situation is tightening, and the war in the Middle East continues to push up energy prices again, further affecting interest rate trends in Asia.

Yu Weiwen said that despite the tightening of the global monetary situation, Hong Kong's foreign exchange and currency markets are still running smoothly, and the Hong Kong economy and asset market remain resilient and can respond strongly to challenges.

He mentioned that the HKMA will continue to work with other regulators to ensure the stability of the financial and banking system, and actively implement the first five-year plan to promote the sustainable financial and economic development of Hong Kong.