Written question asked by Lord Alton of Liverpool (Crossbench) on Wednesday, 2 November 2022, in the House of Lords. It was due for an answer on Wednesday, 16 November 2022. It was answered by Baroness Penn (Conservative) on Wednesday, 16 November 2022 on behalf of the Treasury.
Overseas Investment: China
- Question
-
To ask His Majesty's Government what assessment they have made of the exposure of UK investors to Chinese government bonds and stocks following the fall of the Hang Seng Index; and what holdings they currently have in the (1) Hong Kong dollar, and (2) Renminbi.
- Answer
-
HM Treasury works closely with the UK’s independent financial regulators - including the Bank of England and Financial Conduct Authority to monitor risks to the UK financial system.
The Government does not comment on specific financial market movements. However, the results of the Bank of England's 2021 stress test concluded that the UK banking sector is resilient to a sharp contraction in both China and Hong Kong's economic activity.
Figures from the Office for National Statistics estimate that UK investors owned around £409bn of investment in China and Hong Kong at the end of 2021- or around 3% of the UK’s total investment held overseas. This compares to £4.3tn of investment held in the USA and £4.6tn in the EU.
Secondary information
- Type
- Written question
- Reference
- HL3136
- Session
- 2022-23
- Subjects
- Currencies China Hong Kong Government securities Overseas investment
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2022-11-16 17:41:29 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL3136
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL3136
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL3136