Hong Kong Monetary Authority chief insists electoral overhaul not to blame for capital outflow

The head of Hong Kong’s de facto central bank has dismissed suggestions that the recent weakening of the Hong Kong dollar was prompted by Beijing’s drastic overhaul of the city’s electoral system.Instead, Hong Kong Monetary Authority chief executive Eddie Yue Wai-man on Sunday insisted the capital outflow had been caused by previous “relatively large IPOs”, which had seen mainland companies transferring the money they raised in Hong Kong dollars back across the border.“Actually it is not…Read More