Hong Kong is a place with unique advantages and unlimited opportunities, according to the  Report on Hong Kong's Business Environment, released by the Hong Kong Special Administrative Region Government on September 27.

The report noted that since the implementation of the National Security Law, Hong Kong's financial market has remained stable.

By the end of June this year, total deposits in the banking system amounted to over HK$15 trillion, up by almost 8% over last June. Hong Kong's foreign exchange reserves also increased by 10.5% to $3.8 trillion.

In the year following the enactment of the National Security Law, funds raised through initial public offerings in Hong Kong exceeded HK$500 billion, an increase of more than 50% compared to the 12 months before the enactment.

As at the end of 2020, the assets under management of the city's asset and wealth management business grew by 21% year-on-year to nearly HK$35 trillion, about one-third of which was contributed by net fund inflows.

The report also referenced the latest international rankings of Hong Kong concerning economic freedom and competitiveness which have all along been well recognized by international institutions.

Additionally, Hong Kong has been at the forefront of international rankings related to the rule of law and judicial independence since its return to the motherland.

Hong Kong Financial Secretary Paul Chan said Hong Kong had been subject to unfair criticisms over the past two years, including some misleading information, incorrect observations as well as deliberate malicious attacks from foreign countries and overseas media.

He noted that the report set out the facts to enable the business sector and the international community to better understand Hong Kong's situation.

"The purpose of this report is to proactively promote Hong Kong, to tell the Hong Kong story, to clarify misunderstandings and to reinforce the confidence of the international community in us.

"Taking this opportunity, we want to set out the core competitive advantages of Hong Kong and the future prospect of Hong Kong. As you know, the success of Hong Kong is very much tied to the development on the Mainland.

"It had been so in the past. Currently, yes, our development also depends on the Mainland's economic development. And going into the future, that will lend us an additional economic engine to drive our economy forward."

He added that with the unique positioning provided by the National 14th Five-Year Plan and the unlimited opportunities brought about by the Guangdong-Hong Kong-Macao Greater Bay Area development, Hong Kong would be given new impetus for economic development.