People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Stress Testing the Banking Sector and Systemic Risk Analysis
Author:
International Monetary Fund. Monetary and Capital Markets Department
International Monetary Fund. Monetary and Capital Markets Department Search for other papers by International Monetary Fund. Monetary and Capital Markets Department in Current site Google ScholarClose
Hong Kong SAR (HKSAR) is a small and open economy, and a major international financial center with extensive linkages to Mainland China. Over the past two years, Hong Kong SAR’s economy and financial sector were adversely impacted by domestic social unrest, US-China tensions, and the global COVID-19 pandemic, resulting in an unprecedented two consecutive years of negative economic growth.