China's central bank pledges more support for Hong Kong as int'l financial center

Updated: December 10, 2021 Source: Xinhua News Agency
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HONG KONG, Dec. 9 (Xinhua) -- China's central bank governor Yi Gang on Thursday said the bank will continue to support the further development of Hong Kong as an international financial center and enhance the various Connect schemes in financial markets.

In recent years, the Chinese mainland and Hong Kong have made substantial progress in financial market connectivity and offshore RMB business development, said Yi, governor of the People's Bank of China (PBOC), in a video speech at a seminar held by the PBOC and the Hong Kong Monetary Authority (HKMA).

The PBOC will work closely with the HKMA in the areas of central bank digital currency and Regtech (regulatory technology) to tap the potential of fintech, and support the development of Hong Kong's green finance ecosystem, he said.

Eddie Yue, chief executive of the HKMA, said as a leading international financial center, Hong Kong will leverage its unique edges to strive for breakthroughs and developments across various segments of the financial sector.

The HKMA will continue to closely collaborate with the central bank and other mainland regulators as well as the financial industry to press ahead with the development plan and strengthen the competitiveness of Hong Kong's financial markets, Yue said.

The seminar, themed "Hong Kong's Positioning and Prospect as an International Financial Center," was attended by around 300 representatives from government agencies, financial institutions and industry associations.

Editor: Yu Huichen