Press Release: The Lion Rock Institute strongly opposes to Mr. Christopher Cheung’s proposal for capital and foreign exchange controls which makes Hong Kong a third-rate financial centre
In response to Christopher Cheung Wah-fung, a member of the Legislative Council of the Financial Services constituency, who advocated capital and foreign exchange control, The Lion Rock Institute, selected by the Pennsylvania University of the United States as the second think tank in Hong Kong, responded as follows:
The Lion Rock Institute strongly opposes Mr. Christopher Cheungs proposal for capital control on the pretext of preventing indiscriminate withdrawals. We believe that a world-class financial centre must fulfill the commitment of free flows of funds, including to enter and exit at any time. Once capital and foreign exchange control is implemented, Hong Kong will become a third-rate financial center like the other neighboring region.
The Lion Rock Institute is a free market public policy think tank in Hong Kong. According to the Global Go To Think Tank Index as compiled by University of Pennsylvania, The Lion Rock Institute is ranked 2nd in Hong Kong.