The 2015-16 Budget
Budget Speech
TV Announcements
Press Releases
Photo Gallery
Related Documents
Previous Budgets
Related Links
Contact Us
Site Map
The 2016-17 Budget

符合萬維網聯盟有關無障礙網頁設計指引中2A級別的要求 | Level Double-A conformance, W3C WAI Web Content Accessibility Guidelines 2.0

無障礙網頁嘉許計劃 | Web Accessibility Recognition Scheme

* 繁 體 * 簡 体 *Mobile Version * Default Font Size Larger Font Size Largest Font Size *

Budget Speech

Shanghai-Hong Kong Stock Connect and Offshore Renminbi Business

93.    The Shanghai-Hong Kong Stock Connect has been operating smoothly since its launch in November last year.  For the capital markets of the two places to move towards full mutual access, we shall review the experience of the implementation of this project, and discuss with the relevant authorities of the Central Government the launch of the Shenzhen-Hong Kong Stock Connect and enhancement of the Shanghai-Hong Kong Stock Connect.  We shall also work with the industry to stage roadshows in the Mainland to promote Hong Kong's securities market to Mainland investors.

94.    While we strengthen our connection with the Mainland market, we are also expanding our RMB business links with the rest of the world.  Hong Kong is the world's largest centre for offshore RMB banking, financing and asset management, providing services for RMB transactions around the world.

95.    Last year, RMB trade settlement conducted through Hong Kong banks amounted to RMB 6.3 trillion, with a 60 per cent year-on-year increase, while RMB bond issuance amounted to RMB 200 billion, with a 70 per cent year-on-year increase.  In the fourth quarter of 2014, the average daily turnover on Hong Kong's RMB Real Time Gross Settlement (RTGS) system amounted to RMB 850 billion, representing an 80 per cent increase over the same period a year earlier.

96.    We shall continue to actively develop Hong Kong's capacity to serve as a global hub for offshore RMB business, providing new opportunities for the financial sectors both in the Mainland and Hong Kong.  To this end, we shall work with the Mainland authorities to further increase our investment quota for the RMB Qualified Foreign Institutional Investors (RQFII) Scheme and strive for early implementation of the arrangement for mutual recognition of funds.



Content | Next Page

2015 * | Important notices | Privacy Policy  Last revision date : 25 February 2015