The Hong Kong Monetary Authority (HKMA) has issued a message of reassurance about Hong Kong's future as a free financial centre after the handover in an influential World Bank newsletter. Deputy chief executive Andrew Sheng Len-tao said in the Transition newsletter that Hong Kong would remain to have its own monetary and exchange policy after the handover. 'For the very reasons people are sceptical over the monetary integration in Europe, there will be monetary segregation between China and Hong Kong,' he said. He said the Hong Kong dollar would be the only legal tender in the territory after the handover. He said the People's Bank of China (PBOC) would support the Hong Kong dollar with its reserves if requested by the HKMA, but in no circumstances would the PBOC draw on Hong Kong's exchange fund, Mr Sheng said.