Chief Executive of the Hong Kong Monetary Authority Eddie Yue Wai-man (left) speaks with Governor of the People’s Bank of China Yi Gang in a recorded video interview aired during the Global Financial Leaders’ Investment Summit at Four Seasons Hotel in Hong Kong on Nov 2, 2022. (ANDY CHONG / CHINA DAILY)
Mainland financial regulators say they believe that Hong Kong is and will continue to be an important financial center that links the mainland and international markets.
Major mainland financial regulators, including the People’s Bank of China, China Banking and Insurance Regulatory Commission, and China Securities Regulatory Commission, shared their policy perspectives at the Global Financial Leaders’ Investment Summit via a recorded interview session
They made their remarks on Wednesday at the Global Financial Leaders’ Investment Summit, hosted by the Hong Kong Monetary Authority.
Major mainland financial regulators, including the People’s Bank of China, China Banking and Insurance Regulatory Commission, and China Securities Regulatory Commission, shared their policy perspectives at the summit via a recorded interview session.
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“Hong Kong has great potential to deepen connections based on mainland financial market, in areas of financing and investing under the Belt and Road Initiative, fintech and green finance, to support Hong Kong’s development,” PBOC Governor Yi Gang said.
“The PBOC will continue to help Hong Kong maintain a law-based, open, inclusive, and enabling business environment and enhance its status as an international financial center,” he added.
CSRC Vice-Chairman Fang Xinghai sees Hong Kong as an important international center for the nation.
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“Hong Kong can play a very important role in helping to grow the mainland economy. The CSRC is following up on the central government’s policy to clone Hong Kong’s financial market to make it an even stronger financial center,” Fang said.
Fang added that extending the Stock Connect programs to include the trading of international companies listed in Hong Kong, the introduction of mainland government bond futures, and the establishment of a renminbi counter in trading Hong Kong shares can achieve Hong Kong’s vision as an offshore renminbi financial center, whereas international investors can assess the renminbi assets in the city.
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Chief Executive of the Hong Kong Monetary Authority Eddie Yue Wai-man (left) speaks with Vice-Chairman of the China Securities Regulatory Commission Fang Xinghai in a recorded video interview aired during the Global Financial Leaders’ Investment Summit at Four Seasons Hotel in Hong Kong on Nov 2, 2022. (ANDY CHONG / CHINA DAILY)
“The nation’s opening-up can only be bigger and bigger going forward, and Hong Kong’s unique role in connecting the world and the mainland will continue and remains very important. There will be new exciting opportunities for us,” Fang said.
“Do not bet against the Chinese mainland and Hong Kong,” the CSRC vice-chairman reiterated.