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Transcript of remarks by FS (with video)

     Following is the transcript of remarks by the Financial Secretary, Mr John C Tsang, at a media session today (March 12):

Reporter: Mr Tsang, Moody's has said that the downgrading is down from our close linkage with the Chinese economy, and since the Chinese economy has pretty much political risk to harm Hong Kong's "one country, two systems". What is your response to this?

Financial Secretary: Well, I think we just want to emphasise one point. In the past, we have been exercising the "one country, two systems" principle with diligence. And we have been successfully doing that since 1997. And I think everybody can see that and that has manifested into a very healthy economic situation in Hong Kong, very healthy fiscal position in Hong Kong, as well as a really well-regulated banking system. So this is something that everybody can see, and everybody can realise and support. So that's why we do not agree with the Moody's assessment. It's a wrong assessment. It's a totally wrong assessment. And they can just look at economic conditions that we have, and actually maybe it is really time to consider an upgrade for Hong Kong.

(Please also refer to the Chinese portion of the transcript.)

Ends/Saturday, March 12, 2016
Issued at HKT 14:37


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