Chen Maobo: Hong Kong has sufficient plans to cope with market risks brought by the Middle East conflict

According to Jin Shi reports, the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, stated today that there is not much direct trade and investment between Hong Kong and Iran, but the ongoing conflict has created significant uncertainty globally. He estimated that the financial markets are experiencing considerable volatility due to the impact of the Middle East conflict, with capital flows potentially shifting more rapidly and uncertainty persisting. Local funds may seek a "safe haven" and come to Hong Kong, and the SAR government must be prepared to carefully manage financial risks, having already established sufficient contingency plans. He pointed out that this conflict may have a short-term impact on gold prices, oil prices, and international trade transportation costs, and the SAR government has been continuously assessing the related risks.