We are in agreement with the Commission that the implementation of the Stability and Growth Pact could be further improved, in particular in terms of the analysis of structural imbalances and the strengthening of incentives for sound fiscal policies during good economic times. Clarity and enforceability of the fiscal framework should be enhanced.
On the occasion of celebrating the 25th anniversary of Hong Kong’s return to the motherland, entrusted by Governor Yi Gang and Party Secretary Guo Shuqing, I am here, on behalf of the People’s Bank of China (PBC) and the State Administration of Foreign Exchange (SAFE), to extend the warmest congratulations to Mr. John Lee, our newly inaugurated sixth-term HKSAR Chief Executive.