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Hong Kong’s (HK) Finance Secretary Paul Chan said in a statement on Friday, China stands ready to defend exchange rate system.

Earlier this week, he said that they have no plans to change its currency’s peg to the US dollar, especially after the US removed its special treatment.

Key quotes

“Not worried about US sanctions.”

“China stands ready to defend exchange rate system.”

“Market still has confidence in exchange rate system.”

“We have a contingency plan for US actions.”

“We should not speculate too much.”

“’Sure’ the dollar peg will stand.”

“There’s adjustment in relations between HK< US.”

“Banks in Hong Kong see the merit of national security law.”

“Overall, reaction to security law has been positive.”

“Security law won’t affect ordinary business people.”

“Other financial centers have national security laws.”

“National security law is a good thing for Hong Kong.”