Hong Kong Needs to Strengthen Its Advantages in Renminbi Business

Hong Kong Immigration and Business: On the 16th, the Chief Executive of the Hong Kong Monetary Authority, Norman Chan, stated that Hong Kong benefits from several policies provided by the mainland, including the Renminbi Qualified Foreign Institutional Investor (RQFII) program and the Shanghai-Hong Kong Stock Connect, which help Hong Kong develop its offshore Renminbi business. He hopes that the Shenzhen-Hong Kong Stock Connect can be launched soon to increase the flow of funds between Hong Kong and the mainland, and the Monetary Authority hopes that more policies can be introduced in the future to expand the use of Renminbi in Hong Kong.

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     Hong Kong Immigration and Business: On the 16th, the Chief Executive of the Hong Kong Monetary Authority, Norman Chan, stated that Hong Kong benefits from several policies provided by the mainland, including the Renminbi Qualified Foreign Institutional Investor (RQFII) program and the Shanghai-Hong Kong Stock Connect, which help Hong Kong develop its offshore Renminbi business. He hopes that the Shenzhen-Hong Kong Stock Connect can be launched soon to increase the flow of funds between Hong Kong and the mainland, and the Monetary Authority hopes that more policies can be introduced in the future to expand the use of Renminbi in Hong Kong.
 

Hong Kong
 

Norman Chan made the above remarks while attending the "2015 Treasury Markets Summit" on that day.

Chan stated that although Hong Kong benefits from the early policies of Renminbi internationalization, as other international cities enjoy the same policies, the exclusive policy advantages will disappear. Therefore, Hong Kong needs to consolidate its leading position in Renminbi business.

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