Chat place forum

Board index » General » Article Resources and Story Telling

All times are UTC

Hong Kong faces challenges as its reserve fund slumps.

Moderator: Forum Mods

Page 1 of 1

[ 2 posts ]

Print view

Previous topic | Next topic

Author

Message

jira13578

Post subject: Hong Kong faces challenges as its reserve fund slumps.

Posted: Wed Nov 24, 2021 5:26 am

Advanced Member

Joined: Mon Jun 28, 2021 10:55 am
Posts: 360

Hong Kong's position as the financialxo walletcenter of Asia is closely watched by foreign businessmen and investors. After the Chinese government strengthened its power over Hong Kong. And now the management's policy actions pose a risk to Hong Kong's financial stability.

The Financial Times reports that Hong Kong lawmakers have approved a budget of more than 305 billion Hong Kong dollars. during the 2020-2021 Legislative Session for the Hong Kong Administration's 2022 public investment projects.

The money was the highest in nine years and was 10% more than the 2019-2020 budget, excluding the HK$205 billion emergency budget approval. to the management for their response to COVID-19 over the past 2 years.

The approval of the budget was noted that can easily pass discussions and resolutions of the Hong Kong Legislature As many opposition politicians resigned from legislature in November 2020 to protest the Hong Kong administration. As a result, there is almost no objection to the approval of this budget.

However, the massive approval of the budget could affect Hong Kong's fiscal reserves, said Kevin Lai, chief Asia economist at Daiwa Capital Markets. check the balance appropriately Hong Kong's reserve funds will face more pressure.”

Hong Kong has historically been one of the economic regions with huge capital reserves. This is mainly from the income from the sale of land and taxation. As a result, the financial position is relatively stable in the eyes of foreign investors.

But in Sept. Hong Kong's reserves fell to HK$812 billion from nearly HK$1.2 trillion in March 2020, with some of the reserves being used to deal with the epidemic.

Analysts see The ongoing approval of massive expenditures puts Hong Kong's reserves at risk, said Andy Kwan, director of the ACE Center for Business and Economic Research, saying Hong Kong could lose. Loss of fiscal discipline If there is a large amount of spending on large public projects

Top

candymika

Post subject: Re: Hong Kong faces challenges as its reserve fund slumps.

Posted: Sat Nov 27, 2021 9:14 am

Advanced Member

Joined: Wed May 05, 2021 3:02 am
Posts: 169

I hope suppliers and partners will help with their difficulties during this time. the impossible quiz