Protests have taken place in Hong Kong since June 9, sparked by demands for the city’s government to withdraw an unpopular extradition bill. Photo: Reuters

Hong Kong’s US dollar peg could be a weak link if protests drag on, China scholar warns

  • Zhou Luohua, vice-president of the Chongyang Finance Research Institute at the Renmin University of China, says the peg could prove to be city’s ‘Achilles’ heel’
  • The Hong Kong dollar has been pegged at 7.8 to the US dollar since 1983, and has helped the city survive the Asian financial crisis and Sars epidemic
Topic |   Hong Kong economy

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Protests have taken place in Hong Kong since June 9, sparked by demands for the city’s government to withdraw an unpopular extradition bill. Photo: Reuters
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The Bank of East Asia is seen in Central. Photo: Felix Wong

Hong Kong protests could hammer city’s economy, Bank of East Asia warns, as its profit falls 75 per cent in first half

  • Hong Kong’s largest independent bank earlier warned it expected ‘significant post-tax impairment losses’ because of downgrade of mainland commercial loans
  • Lender warns protests could hurt consumer, business confidence
Topic |   Bank of East Asia

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The Bank of East Asia is seen in Central. Photo: Felix Wong
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