The Hong Kong Monetary Authority HKMA announced last week, jointly with the People’s Bank of China PBOC, China’s central bank, six measures to deepen financial cooperation between Hong Kong and the mainland China market.
The six policy measures encompass various aspects in the financial sectors, including cross-border wealth management, credit referencing and onshore interbank bond market, expanding Hong Kong residents’ and investors’ access to these facilities.
Among the measures, the two authorities announced an expansion of a cross-boundary e-CNY pilot in Hong Kong, targeting individuals and corporates in both markets.
Eddie Yue, HKMA’s chief executive, explained in a media conference that trials...
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