In Hong Kong, world bankers urged not to ‘bet against’ China

By ZEN SOO
Associated Press

HONG KONG (AP) — Chinese regulators have downplayed risks from the country’s real estate slump and slowing growth at a financial conference in Hong Kong. The gathering of 200 global banking executives carried on despite tropical storm warnings that led authorities to close schools. A top Chinese securities regulator, Fang Xinghai, urged the financiers not to “bet against” China. The central bank governor said China still has much room for growth, its job market is stable and its economy remains open to trade. The city’s top leader appealed to those attending the event, the first major international conference since Hong Kong relaxed strict COVID-19 precautions, to view the city as a unique link to the rest of China.