Hong Kong's strengths as a global financial hub have not been undermined by months of pro-democracy protests, the Chinese-ruled city's chief executive, Carrie Lam, said on Monday.

Protests in Hong Kong escalated in June over a now-withdrawn bill which would have allowed extraditions to mainland China, where courts are controlled by the Communist Party. They have since broadened to include demands such as universal suffrage.

<a href="https://www.wionews.com/world/hong-kong-protesters-fete-landslide-election-win-for-taiwans-tsai-ing-wen-273784">Also read: Hong Kong protesters fete landslide election win for Taiwan's Tsai Ing-wen</a>

Speaking at the opening of a regional financial forum, Lam said the city's financial system remained stable thanks to lessons learnt since the Asian financial crisis. Lam cited the listing of e-commerce giant Alibaba Group Holding Ltd as a boon for other listings by mainland companies.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/wion-dispatch-hong-kong-kicks-off-2020-fresh-protests-271450/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The city's "strengths and resilience, just like our financial systems, have not been undermined despite (the fact) that we experienced considerable social unrest and challenges," Lam said.

She added she was confident the city will bridge divisions, and realise its goals of a reunited community and "flourishing" economy.

Many protests involved violent clashes between protesters and the police on central streets lined by the city's tallest towers hosting top finance companies.

Some financial firms have been caught in the middle, with branches of mainland banks repeatedly vandalised as protesters vented their anger at what they perceive as Beijing meddling in the city's affairs, an accusation denied by Beijing which blames the West for fomenting unrest.

HSBC has also drawn the ire of some protesters who accuse it of being complicit in action by the authorities against activists trying to raise money to support their campaign. HSBC strongly denies any connection.

Hurt by a tariff war between Washington and Beijing, and with protests hurting tourism and retail sales, Hong Kong's economy has fallen into recession and relies on its finance industry to prevent a deeper downturn.

Hong Kong's strengths as a global financial hub have not been undermined by months of pro-democracy protests, the Chinese-ruled city's chief executive, Carrie Lam, said on Monday.

Hong Kong's strengths as a global financial hub have not been undermined by months of pro-democracy protests, the Chinese-ruled city's chief executive, Carrie Lam, said on Monday. Protests in Hong Kong escalated in June over a now-withdrawn bill which would have allowed extraditions to mainland China, where courts are controlled by the Communist Party. They have since broadened to include demands such as universal suffrage. Also read: Hong Kong protesters fete landslide election win for Taiwan's Tsai Ing-wen Speaking at the opening of a regional financial forum, Lam said the city's financial system remained stable thanks to lessons learnt since the Asian financial crisis. Lam cited the listing of e-commerce giant Alibaba Group Holding Ltd as a boon for other listings by mainland companies. The city's "strengths and resilience, just like our financial systems, have not been undermined despite (the fact) that we experienced considerable social unrest and challenges," Lam said. She added she was confident the city will bridge divisions, and realise its goals of a reunited community and "flourishing" economy. Many protests involved violent clashes between protesters and the police on central streets lined by the city's tallest towers hosting top finance companies. Some financial firms have been caught in the middle, with branches of mainland banks repeatedly vandalised as protesters vented their anger at what they perceive as Beijing meddling in the city's affairs, an accusation denied by Beijing which blames the West for fomenting unrest. HSBC has also drawn the ire of some protesters who accuse it of being complicit in action by the authorities against activists trying to raise money to support their campaign. HSBC strongly denies any connection. Hurt by a tariff war between Washington and Beijing, and with protests hurting tourism and retail sales, Hong Kong's economy has fallen into recession and relies on its finance industry to prevent a deeper downturn.

Hong Kong's strengths as global financial hub intact despite protests: Carrie Lam

Hong Kong's Chief Executive Carrie Lam today affirmed her wish to work closely with Beijing's top official to get back on ''the right path''. The protests are now running into their sixth month.

China appointed a <a href="https://www.wionews.com/world/china-luo-huining-replaced-wang-zhimin-as-hong-kongs-top-envoy-272120">new envoy</a> to Hong Kong, Luo Huining unexpectedly. The Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (SAR) reports to China's State Council or the&nbsp;cabinet. It is the main platform for Beijing to retain its influence on the city.

"I would work closely with director Luo in the coming future, committing to 'one country, two systems', and the Basic Law, for Hong Kong to ... return to the right path," Lam said at a press conference, her first this year.

Huining echoed similar sentiments, hoping the city would return to <a href="https://www.wionews.com/world/new-chief-of-chinas-hong-kong-liaison-office-hopes-city-returns-to-right-path-272407">''right path'</a>'.

Watch:&nbsp;Hong Kong riot police detain protesters

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/hong-kong-riot-police-detain-protesters-271719/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Earlier in November, Reuters had reported that China was intent on replacing the former liaison office chief, Wang Zhimin, who was facing criticism over the unrest.

Even though Lam did not refer to the protests in her remarks, she alluded to the outbreak of a respiratory virus in China's Wuhan city. Such cases in Hong Kong have increased to 21, out of which seven have been released from the hospital.

The clashes between the police and protests have intensified over the last week. Earlier, the district council elections were swept by pro-democracy candidates. No concessions have been given by the government yet.

The protests began against the controversial Extradition Bill, which is now scrapped. Later on, the demonstrations evolved into a full-fledged movement demanding democracy. The protesters have also demanded an independent inquiry into instances of police brutality, even though the police say that they exercised restraint.

Also read:&nbsp;<a href="https://www.wionews.com/world/new-chief-of-chinas-hong-kong-liaison-office-hopes-city-returns-to-right-path-272407">Hope Hong Kong can return to right path, says new chief of China's liaison office</a>

Hong Kong currently follows the ''one country, two systems'' model of governance which gives the city more autonomy than Chinese mainland. The British colony came under Chinese rule in 1996.

China has repeatedly asserted claims of the West triggering the unrest to stir instability in the region.

According to a Reuters poll, <a href="https://www.wionews.com/world/hong-kong-around-400-arrested-in-new-years-day-unrest-271484">the pro-democracy movement</a> has the support of 59% city residents, with 57% of them demanding Lam's resignation.

(With inputs from Reuters)

Hong Kong's Chief Executive Carrie Lam today affirmed her wish to work closely with Beijing's top official to get back on ''the right path''. The protests are now running into their sixth month.

Hong Kong's Chief Executive Carrie Lam today affirmed her wish to work closely with Beijing's top official to get back on ''the right path''. The protests are now running into their sixth month. China appointed a new envoy to Hong Kong, Luo Huining unexpectedly. The Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (SAR) reports to China's State Council or the cabinet. It is the main platform for Beijing to retain its influence on the city. "I would work closely with director Luo in the coming future, committing to 'one country, two systems', and the Basic Law, for Hong Kong to ... return to the right path," Lam said at a press conference, her first this year. Huining echoed similar sentiments, hoping the city would return to ''right path''. Watch: Hong Kong riot police detain protesters Earlier in November, Reuters had reported that China was intent on replacing the former liaison office chief, Wang Zhimin, who was facing criticism over the unrest. Even though Lam did not refer to the protests in her remarks, she alluded to the outbreak of a respiratory virus in China's Wuhan city. Such cases in Hong Kong have increased to 21, out of which seven have been released from the hospital. The clashes between the police and protests have intensified over the last week. Earlier, the district council elections were swept by pro-democracy candidates. No concessions have been given by the government yet. The protests began against the controversial Extradition Bill, which is now scrapped. Later on, the demonstrations evolved into a full-fledged movement demanding democracy. The protesters have also demanded an independent inquiry into instances of police brutality, even though the police say that they exercised restraint. Also read: Hope Hong Kong can return to right path, says new chief of China's liaison office Hong Kong currently follows the ''one country, two systems'' model of governance which gives the city more autonomy than Chinese mainland. The British colony came under Chinese rule in 1996. China has repeatedly asserted claims of the West triggering the unrest to stir instability in the region. According to a Reuters poll, the pro-democracy movement has the support of 59% city residents, with 57% of them demanding Lam's resignation. (With inputs from Reuters)

Will work with new Chinese envoy to get back on 'right path': Hong Kong's Carrie Lam

The new head of China's liaison office in Hong Kong, the most senior mainland official based in the territory, said on Monday China was the strongest backer of the Asian financial hub, which he hoped would return to "the right path".

The liaison office, which reports to China's State Councilor cabinet, is a platform for Beijing to project its influence in the city and has faced criticism for misjudging the situation in the Chinese-controlled city, which has faced more than six months of pro-democracy protests.

In his first comments to the media since Saturday's announcement by China's Ministry of Human Resources and Social Security that he had replaced Wang Zhimin, 65-year-old Luo Huining said he was "not unfamiliar with the city".

"Hong Kong compatriots have made important contributions to the reform and opening up and modernisation of our country. The motherland will always be Hong Kong’s strongest backer," <a href="https://www.wionews.com/world/china-luo-huining-replaced-wang-zhimin-as-hong-kongs-top-envoy-272120">Luo</a> told reporters.

"In the past half a year, the Hong Kong situation has been worrying. Everyone eagerly hopes Hong Kong can return to the right path."

In November, Reuters reported exclusively that Beijing was considering potential replacements for Wang, in a sign of dissatisfaction with the liaison office's handling of the crisis in <a href="https://www.wionews.com/world/hong-kong-university-protest-fizzling-out-as-over-1000-arrested-by-authorities-263246">Hong Kong</a>.

Until November, Luo was the top official of China's ruling <a href="https://www.wionews.com/world/pompeo-says-us-must-confront-chinas-communist-party-259032">Communist Party</a> in the northern province of Shanxi, where he had been tasked with cleaning up a graft-ridden, coal-rich region where corruption was once likened to cancer.

Before moving to Shanxi, Luo had been the top party official in the western province of Qinghai.

Protests in Hong Kong escalated in June over a now-withdrawn extradition bill that would have allowed criminal suspects to be sent for trial to the mainland, where justice is controlled by the Communist Party.

They have since evolved into a broad pro-democracy movement, with anger growing over a perception that Beijing is meddling too much into Hong Kong, which was promised a high degree of autonomy upon returning from British to Chinese rule in 1997.

China denies meddling and blames the West for fomenting unrest.

Luo said the "one country, two systems" type of governance that guarantees Hong Kong freedoms not available on the mainland was the city's greatest advantage and that the basic law, the city's mini-constitution, will be "fully implemented."

The new head of China's liaison office in Hong Kong, the most senior mainland official based in the territory, said on Monday China was the strongest backer of the Asian financial hub, which he hoped would return to "the right path".

The new head of China's liaison office in Hong Kong, the most senior mainland official based in the territory, said on Monday China was the strongest backer of the Asian financial hub, which he hoped would return to "the right path". The liaison office, which reports to China's State Councilor cabinet, is a platform for Beijing to project its influence in the city and has faced criticism for misjudging the situation in the Chinese-controlled city, which has faced more than six months of pro-democracy protests. In his first comments to the media since Saturday's announcement by China's Ministry of Human Resources and Social Security that he had replaced Wang Zhimin, 65-year-old Luo Huining said he was "not unfamiliar with the city". "Hong Kong compatriots have made important contributions to the reform and opening up and modernisation of our country. The motherland will always be Hong Kong’s strongest backer," Luo told reporters. "In the past half a year, the Hong Kong situation has been worrying. Everyone eagerly hopes Hong Kong can return to the right path." In November, Reuters reported exclusively that Beijing was considering potential replacements for Wang, in a sign of dissatisfaction with the liaison office's handling of the crisis in Hong Kong. Until November, Luo was the top official of China's ruling Communist Party in the northern province of Shanxi, where he had been tasked with cleaning up a graft-ridden, coal-rich region where corruption was once likened to cancer. Before moving to Shanxi, Luo had been the top party official in the western province of Qinghai. Protests in Hong Kong escalated in June over a now-withdrawn extradition bill that would have allowed criminal suspects to be sent for trial to the mainland, where justice is controlled by the Communist Party. They have since evolved into a broad pro-democracy movement, with anger growing over a perception that Beijing is meddling too much into Hong Kong, which was promised a high degree of autonomy upon returning from British to Chinese rule in 1997. China denies meddling and blames the West for fomenting unrest. Luo said the "one country, two systems" type of governance that guarantees Hong Kong freedoms not available on the mainland was the city's greatest advantage and that the basic law, the city's mini-constitution, will be "fully implemented."

Hope Hong Kong can return to right path, says new chief of China's liaison office

China has removed the head of its Hong Kong liaison office <a href="https://www.wionews.com/world/china-sets-up-hong-kong-crisis-centre-in-mainland-open-to-replacing-chief-liaison-264564">Wang Zhimin</a>, according to a Saturday post on the official website of the Ministry of Human Resources and Social Security.

The move comes as sometimes violent protests roil Hong Kong in a month-long show of anti-Beijing sentiment.

Ordinarily, communications between Beijing and <a href="https://www.wionews.com/world/hong-kong-around-400-arrested-in-new-years-day-unrest-271484">Hong Kong</a> are conducted through a Chinese government body: the Liaison Office of the Central People's Government in Hong Kong.

Wang was the most senior mainland political official stationed in Hong Kong.

<a href="https://www.wionews.com/business-economy/hsbc-suspended-overnight-services-at-19-atm-clusters-in-hong-kong-after-branches-vandalised-271907">Beijing</a> was considering potential replacements for Wang in a sign of dissatisfaction with the Liaison Office's handling of the crisis. The office has come in for criticism in Hong Kong and China for misjudging the situation in the city.

The new liaison office head will be 65-year-old Luo Huining, said the post, who was semi-retired after being removed from his position as the secretary of the Shanxi Provincial Committee of the <a href="https://www.wionews.com/world/hong-kong-to-celebrate-new-year-with-a-fresh-wave-of-protests-271280">Communist Party of China</a>.

Wang is the shortest-serving Liaison office director since 1997.

China has removed the head of its Hong Kong liaison office Wang Zhimin, according to a Saturday post on the official website of the Ministry of Human Resources and Social Security.

China has removed the head of its Hong Kong liaison office Wang Zhimin, according to a Saturday post on the official website of the Ministry of Human Resources and Social Security. The move comes as sometimes violent protests roil Hong Kong in a month-long show of anti-Beijing sentiment. Ordinarily, communications between Beijing and Hong Kong are conducted through a Chinese government body: the Liaison Office of the Central People's Government in Hong Kong. Wang was the most senior mainland political official stationed in Hong Kong. Beijing was considering potential replacements for Wang in a sign of dissatisfaction with the Liaison Office's handling of the crisis. The office has come in for criticism in Hong Kong and China for misjudging the situation in the city. The new liaison office head will be 65-year-old Luo Huining, said the post, who was semi-retired after being removed from his position as the secretary of the Shanxi Provincial Committee of the Communist Party of China. Wang is the shortest-serving Liaison office director since 1997.

China: Luo Huining replaces Wang Zhimin as Hong Kong's top envoy

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Hong Kong's strengths as global financial hub intact despite protests: Carrie Lam

Will work with new Chinese envoy to get back on 'right path': Hong Kong's Carrie Lam

Hope Hong Kong can return to right path, says new chief of China's liaison office

China: Luo Huining replaces Wang Zhimin as Hong Kong's top envoy