HKs Fundamentals Robust: CE

(To watch the video with sign language interpretation, click here.) 

Chief Executive Carrie Lam today said the decision by Moody’s Investors Service to change Hong Kong's credit outlook rating is unjustified as the city’s fundamentals remain strong.

Mrs Lam made the remarks ahead of an Executive Council meeting, noting the Government is disappointed with the decision to change the city's credit outlook from “stable” to “negative.”

“We do not concur especially if the justifications for that sort of change in outlook was premised on whether we are still upholding 'one country, two systems', whether Hong Kong’s institutions are as strong and robust as previously, whether more integration with the Mainland economy will blur the 'two systems'.

“So premising on those basis, we do not agree with the negative rating.”

Mrs Lam added that the current social unrest may affect Hong Kong's international reputation, so the violence needed to come to an end.

“As I have commented on a previous rating decision, the continued instability and social unrest in Hong Kong - as we have seen some of these violent acts from time to time - will inevitably undermine and adversely affect international perception about Hong Kong’s business environment.

“So this is something that we have to be very alert to and that is why I said while creating this dialogue platform, the first priority is still to stop this violence and to restore law and order in Hong Kong as soon as possible.”