John Lee's 2025 Policy Agenda Aims to Reinforce Hong Kong's Position as a Global Business Center
Hong Kong is making significant strides in consolidating its position as a major bond market hub. The city is focusing on fostering interplay between various mutual market access mechanisms, aiming to create a more integrated financial ecosystem.
One of the key areas of focus is the enhancement of the liquidity and global reach of the offshore Renminbi (RMB) market in Hong Kong. This move is expected to provide greater opportunities for businesses and investors alike.
The Hong Kong government is also considering settling government expenditure in RMB under suitable circumstances. This could potentially further boost the use of the offshore RMB market.
In addition, the Technology Enterprises Channel is being utilised to help Mainland technology enterprises raise funds in Hong Kong. While the specific names of these companies are not yet disclosed, it is clear that this initiative is aimed at fostering innovation and growth.
More RMB bonds are being issued by the Government to enhance the offshore RMB market, demonstrating the commitment to its development.
Hong Kong is also reaching out to other global financial markets, establishing connections with Switzerland and the United Arab Emirates, among others. This international collaboration is expected to broaden the horizons of the city's bond market.
Another significant development is the promotion of the use of offshore Chinese Government Bonds as collateral in different clearing houses. This move is intended to enrich the use cases of RMB assets and increase their global appeal.
Lastly, an effort is being made to shorten the stock settlement cycle to T+1 in Hong Kong. This would make transactions more efficient and attractive to both local and international investors.
It is important to note that the issuer is solely responsible for the content of this announcement.
In conclusion, Hong Kong is taking proactive steps to strengthen its position as a global bond market hub. By enhancing the offshore RMB market, fostering technology enterprise funding, and expanding its international connections, the city is positioning itself as a vibrant and dynamic financial centre. Furthermore, the initiative to shorten the stock settlement cycle to T+1 is a testament to Hong Kong's commitment to maintaining a competitive edge in the global financial landscape.
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