Hong Kong’s financial market remains stable and operates smoothly, as the national security law has restored peace to the global financial hub, and will continue to thrive, thanks to the unique advantages under “one country, two systems,” an official report said on Monday. The “Report on Hong Kong’s Business Environment: A Place with Unique Advantages and Unlimited Opportunities” was released by China’s Hong Kong Special Administrative Region (HKSAR) government, at a press conference. The report listed a series of indicators pointing to Hong Kong’s financial strengths and resilience. In the 12-month period ending June 2021, funds raised through initial public offerings increased by more than 50 percent year-on-year, and the turnover of the stock market was up by nearly 70 percent. The assets under management (AUM) of the asset and wealth management business in Hong Kong grew by about 20 percent, and the amount of international bond issuance ranked first in Asia, said the report.
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