For Hong Kong monetary policy issues, Xu Zhengyu, director of the SAR Government's Financial Affairs and Treasury Bureau, said that Hong Kong does not need to change the contact rate system.
According to the Hong Kong News Agency, in the past year, the Hong Kong dollar's exchange rate against the US dollar has repeatedly touched the guarantee of the weak recipes. Some members pay attention to the Hong Kong monetary policy orientation.
Xu Zhengyu replied in writing that Hong Kong is an international finance and trading center. The capital is freely entering and exiting. The exchange rate system is an important cornerstone to maintain the stability of Hong Kong's financial and currency.After years of effective operation, the market has sufficient understanding and experience in the couplet system, and continues to be confident in the couplet system.Hong Kong does not need to change the Lianhui system.
"In response to the US interest rate hike cycle, some funds flowing from the Hong Kong dollar system is normal, which meets the design and expectations of the Lianhui system.The funds are only exchanged for other currencies and continue to stay in the Hong Kong financial system.
He said that the total deposit of the Hong Kong banking system has remained stable. From the end of March last year to the end of March of this year, the deposit increased by about 1.1%.
Xu Zhengyu said that the balance of the settlement account only accounts for a small part of the bank's assets. Banks can allocate their funds to its settlement account at any time. The level of summary of the banking system does not affect the normal operation of the banking system.
