Beijing will bolster Hong Kong’s position as a global financial hub by enhancing openness and cooperation in key sectors, according to senior officials from Chinese regulatory bodies.
“We will make full use of Hong Kong’s role as a ‘superconnector’.”
The NFRA would facilitate mainland insurers in issuing bonds and securities in Hong Kong, and support banks and insurers in aiding the overseas expansion of Chinese businesses, Zhou said.
It would also reinforce Hong Kong’s role as a pilot window for the internationalisation of digital currency and electronic payments, among other initiatives.
Li Ming, vice-chairman of the China Securities Regulatory Commission, said the regulator would streamline the filing procedures for Chinese companies seeking to list overseas, expand the scope of stocks within the mainland-Hong Kong Stock Connect programmes, and enhance Hong Kong’s offshore yuan risk-management tools.
