The Financial Leaders Forum held its 12th meeting today, during which members were briefed on the latest financial market situation following the National People’s Congress (NPC) announcement of the decision on the national security law.

At the meeting chaired by Financial Secretary Paul Chan, the Government and financial regulators told members that while Hong Kong’s financial markets have become more volatile, different facets of the financial services sector continue to function in an orderly manner.

The Linked Exchange Rate System has been operating smoothly. There have been no notable outflows of funds following the NPC announcement of the decision on establishing and improving the legal system and enforcement mechanisms for the Hong Kong Special Administrative Region to safeguard national security.

The Government and the financial regulators will continue to closely monitor the financial market situation to ensure financial stability.

The members also received a briefing on the latest situation in the city’s banking sector and fintech developments as well as Hong Kong's latest position as an international financial centre.