PBOC Says It Supports Hong Kong’s Role as a Financial Center

China’s central bank said it will “unswervingly” support Hong Kong’s role as an international financial center, in a statement backing the Beijing government’s controversial move to introduce a national security law for the territory.

The People’s Bank of China will work to maintain “Hong Kong’s economic and financial stability and prosperity,” according to a statement posted late Thursday on the institution’s website. The PBOC said it “resolutely supports” the law, which it says will protect national security in Hong Kong.