Deep Tide TechFlow News, March 2nd, according to the South China Morning Post, citing Hong Kong Financial Secretary Paul Chan Mo-po, Hong Kong has no plans to withdraw funds from the Exchange Fund again within the next five years. He previously disclosed that Hong Kong would transfer HKD 150 billion (USD 19 billion) from the Exchange Fund, which is used to maintain the peg between the Hong Kong dollar and the US dollar. This proposed withdrawal is the first since 1984. Paul Chan stated that there will be no such measures in the medium-term forecast and does not intend for withdrawals to become "a routine practice." It is understood that the main role of the Hong Kong Exchange Fund is to support the HKD/USD exchange rate within the trading range of 7.75 to 7.85, thereby maintaining financial stability and investor confidence.
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Deep Tide TechFlow News, March 2nd, according to the South China Morning Post, citing Hong Kong Financial Secretary Paul Chan Mo-po, Hong Kong has no plans to withdraw funds from the Exchange Fund again within the next five years. He previously disclosed that Hong Kong would transfer HKD 150 billion (USD 19 billion) from the Exchange Fund, which is used to maintain the peg between the Hong Kong dollar and the US dollar. This proposed withdrawal is the first since 1984. Paul Chan stated that there will be no such measures in the medium-term forecast and does not intend for withdrawals to become "a routine practice." It is understood that the main role of the Hong Kong Exchange Fund is to support the HKD/USD exchange rate within the trading range of 7.75 to 7.85, thereby maintaining financial stability and investor confidence.