The chief executive of Hong Kong on Sunday said China has helped restore “stability” in the city.
Reuters reported that Chief Executive Carrie Lam said Hong Kong’s strategy to improve its standing as a global financial hub involves an increase in integration with mainland China.
Lam added that lending to China’s financial reform and opening will help increase the strength of Hong Kong’s economy, according to Reuters.
Lam’s comments come as non-Chinese investors in Hong Kong are becoming increasingly concerned that rights and freedoms are disappearing in the city, after Beijing imposed a national security law following mass protests in 2019, Reuters reported.
The chief executive said Hong Kong can help promote China’s financial development by facilitating yuan internationalization, helping to fund companies on the mainland and supplying an offshore safe haven for Chinese money, according to the wire service.
“Hong Kong has never been absent from the country’s reform and opening, providing capital, technology and talents,” Lam said, according to Reuters.
She added that the city will “serve China’s needs while injecting fresh vigor into Hong Kong’s economy.”
Hong Kong, according to Lam, will welcome opportunities established by China’s plan to integrate the city, along with Macau and part of Guangdong, into a development zone, according to Reuters.