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Following is the transcript of remarks (English portion) by the Financial Secretary, Mr John C Tsang, at a media standup after attending the kick-off ceremony for the Wing Chun public performance in Tsim Sha Tsui today (November 7):
Financial Secretary: There is no worry for the depositors of the UCB. The East West Bank, which has taken over the UCB, has also taken charge of all the deposits. Moreover, we also have the 100% deposit guarantee. So all the depositors should have no worry. And it has no implication for Hong Kong's financial system. Our system is very stable. This is something that took place in the US. It would not have any significant contagion on Hong Kong's financial system.
(Please also refer to the Chinese portion of the transcript.)
Ends/Saturday, November 7, 2009
Issued at HKT 18:04
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