Economic integration with Chinese mainland benefits HK: monetary chief

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Last updated at: (Beijing Time) Tuesday, January 20, 2004

Economic integration with Chinese mainland benefits HK: monetary chief

Chief Executive of Hong Kong Monetary Authority Joseph C K Yam said Monday that the economic integration between Chinese mainland and Hong Kong can further benefit Hong Kong's economy.

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Chief Executive of Hong Kong Monetary Authority Joseph C K Yam said Monday that the economic integration between Chinese mainland and Hong Kong can further benefit Hong Kong's economy.

Joseph made the remarks in a speech at a luncheon talk that dealt with the monetary policy issues in Hong Kong.

He said that Hong Kong's financial market is forward-looking and has reacted quickly to the early signs of improvement in the economy. But he pointed out that the structural components of the economic problems remain.

He said the increasing integration of economy between Chinese mainland and Hong Kong can help lessen the extent of deflation necessary as part of the structural adjustment.

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