Hong Kong

hong: Considering the capital inflows and outflows, the performance of the stock market, the free exchange of the Hong Kong dollar and its Linked Exchange Rate System LERS Hong Kong's banking industry is still seeing stable growth, Chan said, local media hkej reported, according to Global Times China. The Hang Seng Index closed up 0.79 percent at 26,645.43 points on Wednesday. Photo VCG The months-long social unrest in the Hong Kong Special Administrative Region HKSAR has affected local economic development while the liquidity in the banking system remains robust, HKSAR Financial Secretary Paul Chan Mo-po said at a forum on Wednesday. The impact on Hong Kong's financial sector exerted by the social unrest, which has lasted nearly half a year, will take some time to emerge instead of becoming obvious immediately, Dong Shaopeng, an adviser for the China Securities Regulatory Commission, told the Global Times on Wednesday. An IMF Staff Mission on December 4 commended the resilience of Hong Kong's financial system and the LERS despite a slowing economy, noting that a history of prudent macroeconomic policies has left Hong Kong with significant buffers to navigate through cyclical and structural challenges. Dong said that the HKSAR government is able to deal with general fluctuations so far to keep local financial sector stable. (news.financializer.com). As reported in the news.