Hong Kong's linked exchange system should be continued
ANBOUND
This year is the 20th anniversary of Hong Kong's handover from Britain to China. From 1997 to 2017, Hong Kong's economic and financial markets had grown significantly. Hong Kong stocks have surged to nearly 8 times the value it was in 1997. Among these, the share of Chinese stocks increased from 16% in 1997 to 63% in 2016. Hong Kong has developed into the world's largest renminbi offshore center. In this regard, there is an increase in the discussion on Hong Kong's reform in the linked exchange rate system. Anbound believes that Hong Kong is a free port with linked exchange rate system. The linked exchange rate system is the most important pillar system in Hong Kong and a major institutional arrangement related to the future development and destiny of Hong Kong. From the current point of view, the linked exchange rate system should be continued for at least another 20 years.