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On Tuesday, Hong Kong initiated a central clearing system for gold trades and restarted trading in gold futures priced in US dollars. The option of launching gold futures priced in yuan is also being evaluated.
The limit for the Bond Connect initiative, enabling mainland Chinese investors to buy bonds in Hong Kong, will increase from 500 billion yuan ($118 billion) to 800 billion yuan.
The Securities and Futures Commission (SFC) of Hong Kong stated that it will collaborate with the People's Bank of China (PBOC) to create an electronic platform aimed at enhancing the efficiency of bond and foreign exchange transactions in the financial center.
At an investment conference on Tuesday, People's Bank of China Governor Pan Gongsheng stated that Hong Kong will gain from the increasing demand among investors for asset diversification and China's initiatives to boost the global usage of the yuan.
With the global monetary framework becoming more multipolar, he observed that "the demand for the yuan is growing beyond just trade settlements into various sectors, such as investment, financing, pricing, and reserve assets."
source: businesstimes.com.sg
The limit for the Bond Connect initiative, enabling mainland Chinese investors to buy bonds in Hong Kong, will increase from 500 billion yuan ($118 billion) to 800 billion yuan.
The Securities and Futures Commission (SFC) of Hong Kong stated that it will collaborate with the People's Bank of China (PBOC) to create an electronic platform aimed at enhancing the efficiency of bond and foreign exchange transactions in the financial center.
At an investment conference on Tuesday, People's Bank of China Governor Pan Gongsheng stated that Hong Kong will gain from the increasing demand among investors for asset diversification and China's initiatives to boost the global usage of the yuan.
With the global monetary framework becoming more multipolar, he observed that "the demand for the yuan is growing beyond just trade settlements into various sectors, such as investment, financing, pricing, and reserve assets."
source: businesstimes.com.sg
