People’s Republic of China—Hong Kong Special Administrative Region: Staff Report for the 1999 Article IV Consultation Discussions
March 6, 2000
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The Asian crisis hit the Hong Kong Special Administrative Region (SAR) economy hard in 1998, despite its generally strong fundamentals. In response to the crisis, the authorities eased fiscal policy—within the framework of a medium plan to restore budget balance, and significantly strengthened job creation and retraining efforts. Despite the inevitable pressures arising from declining output and the regional crisis, the financial position of the banking system remains generally strong. Executive Directors strongly supported the authorities' efforts to further strengthen employment and training programs.
Subject: Banking, Commercial banks, Competition, Financial institutions, Financial markets, Labor, Securities markets, Stock markets
Keywords: banking sector, banking system, Commercial banks, Competition, CR, economy, Global, Hong Kong SAR authorities, Hong Kong SAR economy, ISCR, market, market pressure, SAR, Securities markets, Stock markets
Pages:
46
Volume:
2000
DOI:
Issue:
028
Series:
Country Report No. 2000/028
Stock No:
1HKGEA0012000
ISBN:
9781451935745
ISSN:
1934-7685
Notes
Included with the Staff Report is the text of Public Information Notice No. 00/15--IMF Concludes Article IV Consultation with People's Republic of China in Respect of the Hong Kong Special Administrative Region.
