China News Service, Hong Kong, January 24 (Reporter Dai Xiaolu) According to the Information Office of the Hong Kong SAR Government on the 24th, the Hong Kong SAR Government welcomed the series of measures announced by the People's Bank of China (Central Bank) to deepen financial cooperation between the Mainland and Hong Kong. He also thanked the Central People's Government for its continued support in consolidating and enhancing Hong Kong's status as an international financial center.
In order to deepen financial cooperation between the mainland and Hong Kong, the central bank and the Hong Kong Monetary Authority (HKMA) decided to launch six measures, involving financial market interconnection, cross-border capital facilitation, and deepening financial cooperation.
The measures can be summarized as "three connections and three conveniences", including including bonds under Bond Connect as eligible collateral for the HKMA's RMB liquidity arrangement; issuing detailed implementation rules for optimizing the "Cross-border Wealth Management Connect" pilot business in the Guangdong-Hong Kong-Macao Greater Bay Area; deepening Digital RMB cross-border pilot, etc.
The Chief Executive of the Hong Kong Special Administrative Region, Mr Lee Ka-chiu, responded that these six measures will help expand the interconnection of the financial markets between the mainland and Hong Kong, better meet the liquidity management needs of international investors in the mainland bond market, and help Hong Kong further play its role as an international financial center. Make positive contributions to accelerating the construction of a strong financial country and high-quality financial development.
The SAR government will continue to actively consolidate and enhance Hong Kong's status as an international financial center and give full play to its advantages in financial services.
The Financial Secretary of the SAR Government, Paul Chan Mo-po, also met with the media on relevant matters that day.
He said that these six measures have improved the existing Bond Connect and Cross-border Wealth Management Connect mechanisms and enriched their content, which will increase their attractiveness to investors, deepen the interconnection between the mainland and Hong Kong financial markets, and further consolidate Hong Kong’s Its status as a cross-border RMB hub also benefits people and facilitates business in many aspects.
These measures will strengthen Hong Kong's unique role and function in connecting mainland and international markets and investors, and contribute to the continued orderly opening of the country's financial market.
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