China's top economic leaders are emphasizing market openness in Hong Kong even as they demonstrate continued active intervention in financial markets on the mainland. On Tuesday, Vice Premier He Lifeng pledged support for maintaining a free and open economic environment in the special administrative region.
In contrast to these statements of openness, policymakers in Beijing have been utilizing a range of measures designed to directly influence asset prices. The central bank has taken steps to cool the yuan's longest winning streak in three decades. Simultaneously, regulators have revived specific stock-market rescue tools and implemented actions intended to encourage increased share buybacks among investors.
Sources: Bloomberg Markets.