• Jan 13, 2025, 06:35 am
• Macroeconomics

China to Fully Support the Construction of Hong Kong as an International Financial Center

"We will focus on four key areas and fully support the construction of Hong Kong as an international financial center, support the development of Hong Kong's capital markets, and continue to deepen the interconnection between the financial markets of the two regions." On January 13, Pan Gongsheng, Governor of the People's Bank of China, stated at the 18th Asian Financial Forum.

Pan emphasized that the prosperity and development of capital markets are the core and foundation of Hong Kong's status as an international financial center. "We will explore expanding the macroprudential and financial stability functions of the central bank, work in coordination with Hong Kong's financial regulatory authorities, support the healthy development of capital markets in both Mainland China and Hong Kong, and encourage more high-quality companies to list and issue bonds in Hong Kong. We will continue to optimize and expand the interconnection between Mainland China and Hong Kong in areas such as stocks, bonds, wealth management, and interest rate swaps. We will deepen financial cooperation within the Guangdong-Hong Kong-Macao Greater Bay Area, significantly increase national foreign exchange reserves, and create broader space for Hong Kong’s financial development in asset allocation."