HKMA Chief Very Confident In Mainland’s Mid- Long-term Growth

Hong Kong Monetary Authority Chief Eddie Yue remains confident in the Mainland’s mid- and long-term economic growth during a recent visit to Beijing. Yue said Hong Kong can facilitate the yuan’s internationalisation in accordance with the orderly development of China's economy. Investors should feel confident in the Hong Kong dollar currency board despite the recent carry trade driving funds towards US dollar because authorities had designed the system to deal with a free flow of funds, Yue said. Investors will increase demand for CNY in future due to the safe-haven status and low settlement costs. (Source: Yicai)