Hong Kong Banking System Balance Plummeted 60% Since May

On September 28th, the Chinese Communist Party once again announced that the Hong Kong Monetary Authority has purchased nearly 2 billion HKD in selling orders. This action further shrunk the balance of Hong Kong banking system to nearly 40% of what it was in May 2022. Since the Hong Kong Hang Seng (‎恒生) Index broke the 20,000-point mark on May 11th, and the Hong Kong dollar suddenly began to drastically devalue, the Hong Kong Monetary Authority has purchased Hong Kong dollars aggressively within the last four months to maintain the linked exchange rate mechanism attached to the US dollar. Hong Kong’s banking system balance also plummeted from HKD 330 billion in May to HKD 123.3 billion, a decrease of nearly 60%.

Meanwhile, Hong Kong’s Hang Seng Index fell to around 17,250 points due to the Chinese Communist Party’s manipulating things behind-the-scenes from May to August. Miles Guo has repeatedly reminded the world that Xi JinPing has launched a monetary and financial war against the West. By manipulating Hong Kong’s financial institution, the CCP will detonate the world financial crisis in preparation for a full-scale war with the West after the 20th National Congress of CCP.

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