Carrie Lam of Hong Kong was the leader and said the National Security Law was necessary to protect Hong Kong’s stability.

Lam spoke to CNBC Friday. He stated that he believes the enactment of and the implementation of a National Security Law, along with subsequent reforms to the electoral process, is absolutely essential to Hong Kong’s continued stability and prosperity.

She told CNBC’s Emily Tan, Martin Soong that stability was crucial for Hong Kong in order to retain and improve its status as an international financial centre.

Lam also said the exodus of expatriates and foreigners from Hong Kong in recent months was not due to the newly enacted National Security Law — seen by some as Beijing’s tightening of its grip over the city — but as a result of the the strict pandemic controls and measures that “make people very impatient.”

“Sometimes, it is necessary to face difficult situations.” [protests]We must not weaken the people. Lam spoke on Street Signs about the enactment and subsequent enhancements to improve stability.

Stability is essential to keep Hong Kong as an important financial centre. Stability has now been guaranteed.”

— This is a developing story. Keep checking back for more updates.