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CN NAFR Supports Banks, Insurers to Issue RMB Bonds/ Stocks to Enhance HK Status as CNH Hub
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Hong Kong is an international RMB business center, where 70% of global RMB transactions are cleared in Hong Kong, Chinese media cited Jiang Bo, Director of the International Cooperation Department (Hong Kong, Macao and Taiwan Affairs Office) of the National Administration of Financial Regulation (NAFR). In terms of cooperation prospects, foreign financial institutions in Hong Kong are encouraged to expand their footprints in Hong Kong, Chinese banks and insurance companies are supported in issuing RMB-denominated bonds and stocks, and the development of Hong Kong's offshore RMB market is promoted to strengthen Hong Kong's position as an offshore RMB center. AAStocks Financial News |
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