Hong Kong Fintech Week: PBOC Drives Digital Finance Initiatives
Hong Kong Fintech Week has commenced with significant announcements from the Hong Kong government and the People's Bank of China (PBOC) aimed at advancing digital finance.
Hong Kong Chief Executive John Lee pledged support for mainland Chinese tech companies seeking funding and encouraged secondary listings for overseas firms. The Hong Kong Monetary Authority (HKMA) will leverage its currency swap agreement with the PBOC for longer-term RMB financing.
The PBOC outlined three key initiatives: accelerating "AI+Finance" policies, facilitating secure cross-border data flow, and strengthening regulatory collaboration with Hong Kong and Macau for fintech innovation testing.
Further, the PBOC plans to expand the Cross-Border Interbank Payment System (CIPS) and launch "Northbound/Southbound" settlement for bond transactions and Hong Kong dollar clearing. These efforts aim to enhance cross-border payment and bond trading efficiency.


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Hong Kong Fintech Week Kicks Off with PBOC Initiatives to Supercharge Digital Finance
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