Hong Kong announced several measures to deepen financial links — including facilitating mainland real estate purchases and expanding the Wealth Connect program — with China to further integrate the city with the mainland.
Officials in Hong Kong, with Financial Secretary Paul Chan, outlined six new measures on Wednesday, including opening China’s onshore repo market and allowing bonds issued the Chinese state as well as its policy banks as qualified collateral for the Hong Kong Monetary Authority’s Renminbi Liquidity Facility. Regulators also agreed to allow greater sharing of creditor information to facilitate cross border financing and to deepen the program for the digital yuan, according to joint statements.
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