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Thursday, Jan 27, 2022

China’s central bank governor pledges support for Hong Kong as financial hub

China’s central bank governor pledges support for Hong Kong as financial hub

China's central bank governor Yi Gang on Thursday said the bank will continue to support the development of Hong Kong as an international financial center.
The People's Bank of China will make efforts to optimize financial market connectivity mechanisms linking the Chinese mainland and the special administrative region, and develop more yuan-denominated products, Yi said at a symposium.

The central bank will also seek closer cooperation with Hong Kong in central bank digital currency and regulatory technology, and support the development of green finance in the region, Yi said.

Citing the progress in financial cooperation between the mainland and Hong Kong, Yi said that mainland firms now account for more than half of the listed companies in Hong Kong, with their stock value accounting for over 80 percent of the total.

Yi said he also expects Hong Kong to play a bigger role in channeling capital into Belt and Road construction, and attract more overseas investors to this undertaking.
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