The Shenzhen government will be the first municipal government from the mainland to issue offshore RMB bonds in Hong Kong, which should begin next month, Chief Executive Carrie Lam Cheng Yuet-ngor said.
During a question-and-answer section in Legislative Council, lawmaker Christopher Cheung Wah-fung asked Carrie Lam Cheng Yuet-ngor how the government would keep pace with the national developments when it comes to its policy on financial services.
Lam responded that the financial services industry is booming and thatHong Kong has to equip itself well for the country’s major initiatives to position Hong Kong as an international financial center.
As for concerns that Hong Kong may not benefit from the country’s policies and face greater competition, Lam said that Beijing has always attached great importance to Hong Kong’s status as an international financial center and will strive to maintain it. “With many measures to be introduced in the future, Hong Kong should also improve itself by adopting more favorable policies,” Lam said.