Hong Kong’s status as a finance hub and the future of its dollar peg system have been called into questions after Beijing imposed a new security law on the city. Photo: AFP
US Autonomy Act unlikely to undermine Hong Kong dollar peg in short-run, but poses long-term risk, analysts say
- US sanctions on Hong Kong banks are seen as the biggest risk to the finance hub, although one-year time frame before imposition and ability to appeal eases concerns
- But analysts say the long-term outlook for the Hong Kong dollar peg is uncertain given escalating tensions between China and the US
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China economy
Hong Kong’s status as a finance hub and the future of its dollar peg system have been called into questions after Beijing imposed a new security law on the city. Photo: AFP