The reasons of the outbreak
2. Effects of American economic interests and policy;
3. Factors of George Soros's personal and some support his group of capitalism;
（中央坚持人民币不贬值）
The IMF created a series of bailouts
* structural adjustment package" (SAP).(结构调整计划) *There were to be adequate government controls set up to supervise all financial activities, ones that were to be independent, in theory, of private interest.（私人利益） *IMF and high interest rates（国际货币基金组织和高利率）
Background
The impacts of the Asian financial in Hong Kong
Methords
Effects
Background
1. In the second half of 1997, Soros(索罗斯), an American financial expert used his hedge fund to launch repeated attacks of Asian countries and regions, and he got a great success.
Measures of China and HongKong government resisting crisis
The outbreak of the Asian financial crisis
1. Asian countries’ economic patterns(Singapore, Malaysia, Thailand, Japan ,Korea are export-oriented economy countries.) ;
(1997年6-7月，索罗斯把矛头对准港元，开始有计划地向香港股市和期市发动冲击。)
Methords
accumulated a large amount of short positions
(国际投机者先在期指市场上积累大量淡仓)
bought forward dollar and put forward the Hong Kong dollar
(买上远期美元，沽远期港元)
then speculators would sell a lot of futures, so the price of futures declined substantially
(这时投机者便趁势大沽期指，令期指大跳水)
speculators could flat out short positions and obtain huge profits.
(1997年下半年，美国金融学家索罗斯旗下的对冲基金对亚洲各国和地区发起了连番 狙击，并获得了极大的成功。)
2. On June 1997, Soros aimed at the Hong Kong dollar and began to launch the impact to the Hong Kong stock market and futures market
1. Using the enormous reserves of foreign exchange to accept HK dollar
（动用庞大的外汇储备吸纳港元）
2. Increase interest rate and decrease money supply
（调高利息并抽紧银根）
3. the central government decided to keep the value of the RMB as it was.
(恐慌性地沽出股票，炒家就可平掉淡仓而获取丰厚的利润)
Effects
1.The slump of stock market 2.The falling of housing market 3.The reform of government policies
measures of China and HongKong government resisting crisis
The Asian Financial Crisis in 1997
---Hong Kong
The Asian financial crisis in 1997
The outbreak of the Asian nancial crisis
The impacts of the Asian financial crisis in Hong Kong