Economic upgrades timely: KC Chan

August 20, 2011

Secretary for Financial Services & the Treasury Professor KC Chan says the raft of new measures to support the development of Hong Kong announced by Vice Premier Li Keqiang came at the right time.
 
Speaking on a radio talk show today, Prof Chan said the measures cover various aspects, including the expansion of the offshore renminbi market in Hong Kong, adding these measures will strengthen the competitiveness Hong Kong’s financial market and create job opportunities.
 
He said he hoped the Exchange Traded Funds (ETFs) will be launched on the market later this year and believed they will not lead to drastic changes in the market as they will be monitored by authorities.
 
Prof Chan urged people to stay calm amid the turmoil in the financial markets caused by fears of another possible recession in the US and the European debt crisis.