Hong Kong must stay prepared for geopolitical risks given its status as a “fully open international financial centre”, a top official has said, as he hit out at the United States for interfering in the global market amid the Russo-Ukrainian war.

Financial Secretary Paul Chan Mo-po also lauded the national security law for strengthening the city’s financial hub status, adding that since the legislation was enacted in June 2020, companies had raised more funds in Hong Kong through IPOs, while the daily transactions of the stock market had also increased.

“After years of political turmoil in Hong Kong caused by foreign and external forces, and the ‘black violence’ in 2019, the Hong Kong national security law has safeguarded the security of the country and Hong Kong … and created a safe and stable environment for society,” he said, referring to the social unrest that broke out three years ago.