HONG KONG’S financial system is not being significantly affected by the global banking crisis, the city’s top officials said. “The banking system in Hong Kong is very resilient,” John Lee, chief executive of the Hong Kong Special Administrative Region, said at a scheduled press conference yesterday. “We have confidence that the situation is not affecting Hong Kong in a significant way and we will continue to do our best to monitor the situation,” Lee said, adding that the banking sector in Hong Kong is operating “smoothly and normally, and the liquidity of the market is also very abundant.” The global banking crisis has unfolded just as Hong Kong reopened to the world, with the city hosting the Credit Suisse Asian Investment Conference this week. “Generally speaking, if you look at the way that our capital markets like the bank markets work, I think they have been smoothly operating and we see no issues so far,” said Christopher Hui, the city’s financial services secretary. (SD-Agencies) |