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Written by: Li Fuyuan
2020-01-22 05:03
Last updated: 2020-01-22 05:03The Chief Executive, Mrs Carrie Lam, attended the World Economic Forum's annual meeting in Davos, Switzerland on Tuesday (21st). In an interview with CNBC, she said that Moody's has rated Hong Kong's credit rating from " "Aa2" down to "Aa3" and very disappointed.
Lin Zhengyue said that what was even more disappointing was Moody's assessment of the situation in Hong Kong, and that Hong Kong's system and governance capabilities were weak. After seven months of social turmoil, it has proved that Hong Kong's system and governance are still stable build.
Lin Zheng said that he was trying to deal with the economic problems behind social unrest and reiterated that there was no need to conduct an independent investigation of police behavior during the demonstration. He believed that the police had exercised restraint and would only legislate on Article 23 of the Basic Law when conditions were appropriate. As for why he did not resign, Lin Zhengwei's departure will only cause more uncertainty.
Moody's downgraded Hong Kong's long-term credit rating from "Aa2" to "Aa3" on Monday (20th) and changed its rating outlook from "negative" to "stable". Moody's mentioned in the press release that the government's inability to respond to social, political or economic issues partially reflects the weaker institutional capacity than expected, and the autonomy of the Hong Kong government faces more constraints under the "one country, two systems" policy.
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