No sign of significant outflows from Hong Kong's banking system: official report

Hong Kong, September 29 (Xinhua): There were no signs of important capital outings of the Hong Kong banking system in the last six months, an official report said on Wednesday.

The Hong Kong monetary authority (HKMA) said total deposits increased moderately in the banking system since the end of February until the end of August in its monetary and financial stability Semi-annual Report.

While recognizing uncertainties that can affect equity market activities and increase volatility in fund flows, the report stressed that Hong Kong has extensive foreign reserves and A robust banking system, which can help you withstand volatility.

The HKMA report also said that the Renminbi offshore banking business witnessed constant growth in Hong Kong.

Business Renminbi from Hong Kong will continue to benefit from connectivity programs with a continental t, a growing demand for renminbi assets worldwide, the initiative of the belt and the road and the development of the Bay Area Greater Guangdong-Hong Kong-Macao.

While the report noted Hong Kong's financial resilience, an important credit rating agency also on Wednesday affirmed the stable outlook of the Global Financial Center.

S & P Global Ratings maintained the long term of Hong Kong. Rating in AA + on the back of a sustained economic recovery. Enditem follow by China.org.cn on Twitter and Facebook to join the conversation. Download applications from ChinaNews

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