Hong Kong Monetary Authority (HKMA) announced on July 4, 2022, that it would optimize the currency swap with the People’s Bank of China (PBOC). Financial experts analyzed the Chinese Communist Party (CCP) trade as handing over US$120 billion to the CCP on a silver platter.
Politics Commentator, Gordon Poon Tung-hoi, mentioned in an interview with The Epoch Times that the reciprocal currency arrangements with China, also known as currency swap, continued to treat Hong Kong as an ATM: withdrawing money from Hong Kong systemically and regularly.
