H.K. Financial Secretary on HSI Revamp, Economic Recovery

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  • Bloomberg Markets and Finance published this video item, entitled “H.K. Financial Secretary on HSI Revamp, Economic Recovery” – below is their description.

    Mar.02 — Hong Kong Financial Secretary Paul Chan discusses the revamp of the Hang Seng Index, stamp duty on stock trades, retaining the Asian financial hub’s competitiveness, health of the city’s budget and potential SPAC listings. Chan announced the city’s 2021 budget on Feb. 24, outlining HK$120 billion of fiscal support to spur consumption and ease joblessness. He spoke in a 30-minute conversation with Bloomberg’s Chief North Asia Correspondent Stephen Engle.

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    In This Story: Hong Kong

    Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.

    Hong Kong became a colony of the British Empire after the Qing Empire ceded Hong Kong Island at the end of the First Opium War in 1842. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. The whole territory was transferred to China in 1997. As a special administrative region, Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of “one country, two systems”.

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