Hong Kong launches raft of measures to regain investors' trust

Pedro Gonçalves
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Hong Kong launches raft of measures to regain investors' trust

Hong Kong officials and regulators are putting forth a strategy to regain confidence in the city as a premier financial hub as the semi-autonomous Chinese territory's reputation  has taken a battering from three months of protests.

The government will introduce measures to encourage more international private equity funds to help Shenzhen-based technology start-ups raise funds in the city, according to Financial Secretary Paul Chan Mon-po.

Other measures will include trying to attract more family offices to set up in the city to manage their wealth, Chan said, according to a report from SCMP.

We can find a way back to reasoned discussion, to social stability...after all, Hong Kong has been built and rebuild time and again on our indomitable resilience"

Hong Kong chief executive Carrie Lam has told investors at a Belt and Road forum that the city can rebound from months of protests, despite no sign that the unrest will cool down.

Lam said differences could be mended through government plans for dialogue and upholding the so-called "one country, two systems" policy that gives Hong Kong some freedoms not enjoyed on the mainland. She said Hong Kong's "indomitable resilience" will see the city through the conflict.

"We can find a way back to reasoned discussion, to social stability...after all, Hong Kong has been built and rebuild time and again on our indomitable resilience. Call it the spirit of Hong Kong and know that it will see us through," she said.

The protesters insist it is the Beijing-backed Hong Kong government that is undermining the "one country, two systems" principle.  

Fitch Ratings on Friday downgraded the city a notch from AA+ to AA and the outlook from stable to negative, saying the protests raised doubts about the city's governance under the "one country, two systems" principle.

 

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