China News Service, Hong Kong, August 29. The Financial Secretary of the Hong Kong Special Administrative Region Government, Chen Maobo, published a blog on the 29th, stating that Hong Kong has the conditions and ability to create more offshore RMB-denominated investment instruments and provide channels, financial instruments and financial instruments with return on investment. Projects, as well as stable and efficient exchange, exchange rate risk management and other treasury management services, allow RMB funds to circulate in the offshore market.
Chen Maobo pointed out that Hong Kong, as an international financial center and the world's largest offshore RMB hub, relies on the geographical and market advantages of connecting the mainland.
To connect with the country's "14th Five-Year Plan", Hong Kong must also have corresponding planning and deployment. From the financial market to other fields, it must set new development directions from the perspective of reaching a new level. Only by this can we firmly grasp development opportunities.
Hong Kong needs to do a good job in policy alignment, industry alignment, and market alignment, and more importantly, the alignment of ideas and ideas.
He said that as the country continues to reform and open up and the economy grows steadily, the "quantity" and "quality" of the country's economy will be further improved, and the financing and risk management needs of enterprises will increase; and the middle class in the Mainland will grow stronger and more The demand for asset management services will increase substantially, and the demand for overseas use and investment of RMB is bound to increase, bringing new opportunities and new development space for Hong Kong.
Chen Maobo said that Hong Kong is one of the world's top fund-raising places for IPOs. Although development has achieved certain results, it still needs to increase efforts in many aspects, including deepening and broader development of the local bond market, and vigorously enhancing the depth and products of the asset management market. Diversification, and the development of green and sustainable finance; in addition, we must also deepen the development of the offshore RMB market to facilitate the internationalization of the RMB.
He further pointed out that as the national economy continues to expand, and under the new development pattern of the “Belt and Road” initiative and the domestic and international dual cycles, whether it is a mainland or foreign-funded enterprise, financial or other institution, it is used and held overseas. The demand for investment in renminbi will increase sharply. As the world's largest offshore renminbi hub, Hong Kong is not only a "reservoir" for providing foreign renminbi funds, but also an "offshore ecosystem" for the renminbi.
Chen Maobo said that Hong Kong, as a "domestic and overseas" offshore RMB market, can fully utilize the key points put forward in the "14th Five-Year Plan": "Prudently promote the internationalization of RMB, adhere to market-driven and independent choices of enterprises, and create freedom of RMB. A new type of mutually beneficial partnership based on use".
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