Hong Kong's status as a global financial hub is important not just to China but to the rest of the world, International Monetary Fund First Deputy Managing Director Geoffrey Okamoto said on Tuesday.

"Hong Kong is underpinned by a very strong financial sector ... and a monetary system that is anchored to rules, and well-governed and well understood by the world," Okamoto said.

Hong Kong Is Important to Rest of World as Financial Hub: IMF

Hong Kong
Picture for representation Reuters

"Hong Kong is important not just to China but to rest of world. We want to retain Hong Kong's (status) as a financial hub," he said in a roundtable. He added that the IMF expected to issue a revised update to its world economic outlook on June 24.