China’s banking regulator vows Hong Kong will continue as global financial hub

June 8, 2020

BEIJING -- China's Caixin media group is reporting that China's top banking regulator has issued assurances that Hong 's Kong's linked exchange-rate system is stable, and that the city's unique strength as an international financial center will not be weakened under Beijing's pending new national security law.

The China Banking and Insurance Regulatory Commission (CBIRC) said Hong Kong's role as a global financial hub would be further consolidated in the future.

It was the first official response from the Beijing regulator since the U.S. Trump Administration threatened to strip Hong Kong of its special treatment because the U.S. determined the city as no longer sufficiently autonomous. (ATI).