Carrie Lam Cheng Yuet-ngor, Chief Executive of Hong Kong, speaks during the opening ceremony of Asian Financial Forum 2020 at Hong Kong Convention and Exhibition Center, Hong Kong on Jan 13, 2020. The forum is co-hosted by the Hong Kong Special Administrative Region government and Hong Kong Trade Development Council. CALVIN NG / CHINA DAILY)

HONG KONG - Hong Kong's strengths as a global financial hub have not been undermined by months of anti-government protests, the Special Administrative Region's (SAR) chief executive, Carrie Lam Cheng Yuet-ngor, said on Monday.

Unrest in Hong Kong escalated in June over a now-withdrawn extradition bill. 

CE Carie Lam said HK's  "strengths and resilience, just like our financial systems, have not been undermined despite (the fact) that we experienced considerable social unrest and challenges"

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.

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She added she was confident the city will bridge divisions, and realise its goals of a reunited community and "flourishing" economy.

Finance Secretary Paul Chan, speaking at the same event, said Hong Kong's banking system was running smoothly and had ample liquidity despite the city facing "unprecedented" turbulence.
Chan said the government was considering a more "competitive" tax arrangement to attract private equity funds to the city and further relief measures to prop up the economy, without offering further details.

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 by radicals.

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HSBC has also drawn the ire of some radicals with some branches and ATMs targeted during anti-government protests stemming from the extradition bill incident. 

Hurt by a tariff conflict between Washington and Beijing, and with radical 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.