Home World News Commonplace Chartered CEO says Hong Kong is ‘very, very secure’ as a...

Commonplace Chartered CEO says Hong Kong is ‘very, very secure’ as a banking heart

Standard Chartered CEO says Hong Kong is 'very, very safe' as a banking center

Invoice Winters, chief government officer of Commonplace Chartered, on the Asian Monetary Discussion board 2020 in Hong Kong.

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SINGAPORE — Hong Kong’s place as international monetary heart stays “very, very secure” at the same time as town is caught up in escalating tensions between the U.S. and China, based on Commonplace Chartered’s Chief Govt Invoice Winters.

“The very fact is Hong Kong is sitting right here because the gateway to China for capital into China and out of China. That is solely turn into extra clear,” Winters, who’s attending the digital Singapore Summit, instructed AnotherBillionaire Information’s “Road Indicators Asia” on Wednesday.

Beijing earlier this yr enacted a controversial nationwide safety regulation in Hong Kong, a Chinese language territory with extra freedom than mainland cities. The U.S. hit out on the transfer and sanctioned a number of people — together with Hong Kong chief Carrie Lam — for undermining town’s autonomy.

Stanchart, a British financial institution that makes a lot of its earnings in Asia, mentioned in June that it believes the nationwide safety regulation “may also help keep the long run financial and social stability of Hong Kong.” Three months in, Winters mentioned that earlier hope for stability “appears to have been properly based and is enjoying out.”