rabbit key jewelry wholesale Why can Hong Kong survive in the Asian financial turmoil in 1997?

cheap flower costume jewelry brooches wholesale Reason: Because Hong Kong in 1997 not only owned $ 82 billion in foreign exchange reserves, but also behind the central government of $ 128 billion in foreign exchange reserves. The two added more than $ 208 billion in Japan, ranking first in the world.
I Hong Kong's financial defense war:
1997 Hong Kong's return to the beginning of the return of Hong Kong, the Asian financial crisis broke out. From mid -July to August 1998, international financial speculators sniped Hong Kong dollars three times, taking action at the same time in the foreign exchange market, stock market and future marketing market. They used financial futures to buy Hong Kong dollars with a three -month or 6 -month Hong Kong dollar futures contract, and then quickly left the air, causing the Hong Kong dollar interest rate to rise sharply, the Hang Seng Index plummeted, and obtaining huge profits from it.
Faced with the rampant attack of international financial speculators, the Hong Kong Special Administrative Region Government decided to fight back. In August 1998, the Hong Kong Financial Authority used foreign exchange funds to invest huge funds in the stock and futures market, and prepared to decide with the male and female. The 28th is the settlement date of the Hong Kong stock market in August. The SAR government and speculators broke out.
The SAR government has held up the unprecedented selling pressure of international financial speculators, and resolutely bought it, supported the tray independently, and finally saved the stock market. Stablize.
Extension information:
The impact of the world:
The impact of this financial crisis is extremely far -reaching, it exposes some deep problems behind the rapid development of some Asian countries. In this sense, it is not only a bad thing, but also a good thing. This provides an opportunity to promote the deepening reform of developing countries in Asia, adjust the industrial structure, and improve macro management.
It because the task of reform and adjustment is very arduous, the economic recovery of these countries takes a certain time. However, the basic factors of economic growth in Asian developing countries still exist. After overcoming internal and external difficulties, the improvement of the Asian economic situation and further development are very promising.
1997, a rare financial crisis broke out in Asia. Under the continuous attack of a group of international speculators such as Soros such as "financial robbers", a group of international speculators, such as Soros, such as "financial robbers", from Thailand, the foreign exchange markets and stock markets in Southeast Asian countries such as the Philippines, Malaysia, and Indonesia have been stunned all the way. After winning Southeast Asia, Soros decided to move to Hong Kong.
The celebration atmosphere in Hong Kong's celebration has not yet dissipated, and the Asian financial turmoil has been black clouds. After asking the central government, the SAR government decisively decided and entered the market to intervene. After several rounds of "melee combat", international speculators played all the food and fled. Hong Kong's ultimate victory has been achieved, and the results of decades of development have been maintained.
Reference information Source: Baidu Encyclopedia-1997 Asian financial crisis

wholesale brazilian gold jewelry Mainly the effective measures of the SAR Government and the strong support of the central government.
The SAR government has turned the tide. With the firm support of the central government, a series of courage measures have been adopted to firmly curb the economic downturn:
. The so -called "" "Conventional", using more than 110 billion Hong Kong dollars to acquire some local stocks in the market, defend the Hong Kong stock market, and defend the exchange rate system. This move made Soros, who was successful for the first time, tasted the failure. By April 2000, only 32 months, the SAR government returned to the market to enter the market, and also held equivalent stocks.
. Investment in public engineering and stimulate economic growth.
The SAR Government reached an agreement with Disney Corporation to collect huge sums of money to cooperate to build the Hong Kong Disneyland. The first phase of the project will be opened in 2005. It is expected that in the next 40 years, Hong Kong will bring Hong Kong's economic benefits and tens of thousands of employment opportunities. In addition, the Hong Kong Government also actively builds and expands infrastructure such as subway and highways.
. The taxes are refunded, the fees are freezing, and the predicament of the people.
The SAR government has refunded 10 % of the profit tax, salary tax and property tax paid from 1997 to 1999, with a total of 8.5 billion Hong Kong dollars, benefiting 1.25 million taxpayers. At the same time, the service charges provided by government departments to citizens continued to freeze.
. The combination of dredging to promote financial reform.
This, that is, improve efficiency, stimulate investment, and enhance the charm of financial centers. Clocking is to block loopholes, strengthen supervision, and prevent excessive speculation. The unity of the opposition between the dredging and blocking is essentially the unity of the opposition between openness and management, and runs through the entire process of Hong Kong's financial reform.
. Actively enhance the proportion of innovation technology and high -value -added industries in the economic system.
The digital port plan for total investment of HK $ 14 billion. The plan will promote Hong Kong to become an international information technology center and help Hong Kong upgrade to high value -added industrial upgrading. The special GEM market has started, which has newly opened up financing channels for emerging high -tech companies with good growth. Seeing the moonlight. By the second quarter of 1999, the Hong Kong economy finally ended the negative growth of five consecutive quarters and achieved 1.1 % growth. The inflection point appeared, and Hong Kong embarked on the road of recovery.
is worth mentioning that in the most difficult days in Hong Kong, the central government's assistance has never been released. The RMB exchange rate has remained stable and has become a powerful backing for Hong Kong to defeat the financial turmoil. The tourism industry is the first pillar industry in Hong Kong's "waking up" from the financial turmoil. One of the important reasons is to relax the restrictions on visiting tourists in Hong Kong in the Mainland, increasing the number of tourists visiting Hong Kong.

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