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MNI BRIEF: NDRC Signs MoU With HKMA To Support Bond Market

MNI (Beijing)

China’s National Development and Reform Commission has signed a memorandum of understanding with the Hong Kong Monetary Authority (HKMA) regarding cooperation in Hong Kong’s bond market, allowing the NDRC to better support Chinese enterprises' access to cross-border finance in Hong Kong and will promote the development of the local bond market.

Both parties can work together to enhance Hong Kong’s role in the belt and road initiative as an international financial hub, a readout on the NDRC website said.

HKMA Chief Eddie Yue spoke recently about plans to enhance connection to the mainland and upgrade infrastructure for cross-border investment in a bid to maintain its role as the leading offshore yuan business hub. (See: MNI BRIEF: HK To Upgrade Role As Yuan Offshore Hub-HKMA's Yue - Bonds & Currency News | Market News)

MNI Beijing Bureau |
MNI Beijing Bureau |

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