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Xinhua Asia-Pacific news summary at 1600 GMT, June 11

Hong Kong welcomes IMF report reaffirming its position as global financial hub - China News

2021-06-09 08:05:36 GMT2021-06-09 16:05:36(Beijing Time) Xinhua English HONG KONG, June 9 (Xinhua) The government of China s Hong Kong Special Administrative Region (HKSAR) on Wednesday welcomed a report of the International Monetary Fund (IMF) that reaffirms Hong Kong s position as an international financial center with a resilient financial system, sound macroeconomic and prudential policies, and robust regulatory and supervisory frameworks. According to the report released Wednesday, the IMF pointed out that rigorous stress tests showed that Hong Kong s financial system remains resilient in extreme stress scenarios. Hong Kong s macroeconomic and prudential policies have provided it with important buffers to cope with the current economic slowdown and future shocks, and its Linked Exchange Rate System has continued to support financial stability, the report said.

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