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Secrecy is the enemy of free-market philosophy
This letter, published in the South China Morning Post on 4-Sep-1998, estimated that the government had spent HK$120bn on its intervention. Later, on 26-Oct-98, the Government finally disclosed its holdings and that it had spent $118bn.
- HONG KONG EXCHANGES AND CLEARING LIMITED
- Hong Kong Monetary Authority
- SECURITIES AND FUTURES COMMISSION