CE Says Beijing Considering Measures To Boost SAR

Chief Executive Carrie Lam says Beijing is considering measures she's put forward to support Hong Kong's status as an international financial centre, as she stressed the importance of stability to the financial industry.

Lam made the remarks in a post on her official Facebook page following an online Basic Law seminar on Monday. She declined to give further details of the measures she put forward.

She also said that Beijing's move to implement a national security law in the SAR was constitutional, legal and reasonable.

Countering criticism that the move by the National People's Congress goes against the Basic Law, Lam said it was actually compensating for the failure of the SAR's legislature to do its constitutional duty to pass such legislation.

She said the law would provide a stable and secure social environment, which was very important for the financial sector, and would provide freedom from fear for Hong Kong people.

She said she had put her proposals for strengthening the industry to Vice-Premier Han Zheng and other central authorities. Lam said they'd responded positively, to the ideas, which she did not expand on.

Hong Kong markets fell sharply when the national security legislation was announced, but have since regained their losses despite a warning from the United States that it would begin withdrawing its special treatment from the territory.