China News Service, Beijing, January 18 (Reporter Wang Enbo) Guo Shuqing, Party Secretary of the People's Bank of China and Chairman of the China Banking and Insurance Regulatory Commission, said on the 18th that Hong Kong can play an important role in the development of offshore RMB business.
Guo Shuqing made the above statement at the 14th Asian Financial Forum held that day.
The China Banking and Insurance Regulatory Commission disclosed relevant news.
He emphasized that Hong Kong can play an important role in the new development pattern of the "dual cycle" of China's economy.
Hong Kong is a unique intersection and node between the domestic and international cycles of the Chinese economy.
In the two-way trade, investment, finance, law, tourism, and cultural affairs between China and foreign countries, Hong Kong is not only a confluence area, but also a transit point. In many respects, it is an indispensable bridge and bond that cannot be replaced. It is necessary to further strengthen interconnection and mutual complementarity with the mainland Mutual assistance.
Hong Kong can also play an important role in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.
Guo Shuqing said that the construction of the Guangdong-Hong Kong-Macao Greater Bay Area will further deepen multi-level economic, trade and financial cooperation on a regional, national and global scale.
"We will continue to increase the scope and level of the mainland's opening to Hong Kong-funded institutions, and actively expand their development space in the Greater Bay Area."
Guo Shuqing also pointed out that the RMB is one of the few emerging international currencies in the world.
As the world's largest offshore renminbi market, Hong Kong can open more types and larger-scale renminbi financial services, attract customers from all over the world, and accept larger amounts of renminbi funds.
Relying on its status as an "offshore financial center", it can better participate in the higher level of the country's comprehensive two-way opening up, and steadily promote the internationalization of the RMB.
Optimize arrangements for Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect, Bond Connect, etc., and promote the expansion and strengthening of the two places' financial sector through win-win cooperation.
Guo Shuqing believes that as an international financial center, Hong Kong is ushering in a new century of opportunity.
He said that the two basic national policies of reform and opening up and "one country, two systems" have not changed.
The promulgation and implementation of the Hong Kong National Security Law has effectively cracked down on the attempts of anti-China forces and separatists, and provided a strong guarantee for Hong Kong's return to social stability.
The major changes currently taking place at home and abroad will bring more favorable conditions for the growth of Hong Kong as an international financial center.
"We firmly believe that Hong Kong, as an international financial center, will become more prosperous and stable in the future." (End)