HONG KONG, May 24 (Xinhua) -- In response to the report from Fitch on maintaining Hong Kong's "AA-"credit rating and "stable" outlook, a spokesperson for China's Hong Kong Special Administrative Region (HKSAR) government said that Hong Kong's strong credit fundamentals were recognized.
Hong Kong's strong credit fundamentals include large fiscal buffers, robust external finances, and a low level of fiscal debt. It also pointed out that Hong Kong's banking sector is resilient, with solid funding and liquidity, the spokesperson said.
Hong Kong's financial system remains robust, with a consistently healthy level of overall asset quality in the banking sector according to international standards. Bank deposits have continued to grow, the spokesperson said, adding that as of the end of March this year, the total amount of bank deposits in Hong Kong was near 18 trillion HK dollars (about 2.29 trillion U.S. dollars), marking an 11 percent year-on-year increase.
Furthermore, the total market capitalization of Hong Kong stocks has exceeded 41 trillion HK dollars. The average daily turnover in the first four months of 2025 surpassed 250 billion HK dollars, representing a 144 percent increase compared to the same period last year. The initial public offering market is also thriving, with cumulative funds raised exceeding 60 billion HK dollars.
The spokesperson noted that the fiscal situation of the HKSAR government has remained robust and the accounts are gradually returning to balance.
Hong Kong will continue to actively link the Chinese mainland with the world. While reinforcing connections with traditional markets, Hong Kong will also forge more economic and investment networks with new markets, the spokesperson said. (1 U.S. dollar = 7.83 HK dollars)■
