Hong Kong’s Leader Wants More Financial Integration With China
- Lam briefs media amid tensions over security legislation
- Urges ‘greater connectivity’ with mainland Chinese markets
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Hong Kong’s leader said she told Chinese officials the city should be transformed into a global hub for private wealth and a more prominent offshore Renminbi center, even amid concerns about the former British colony’s future as a financial center.
Chief Executive Carrie Lam outlined some details of a proposal she made to Chinese leaders as she addressed a weekly news conference Tuesday, adding that Beijing’s plans to build a new free-trade zone on China’s southern island province of Hainan were not a threat to Hong Kong’s position. She said Hong Kong should be “promoting greater connectivity” between its financial markets and mainland China’s.