FS says HK key to national financial goals

Financial Secretary Paul Chan announced on Sunday that Hong Kong aims to grow its renminbi-denominated bond market, reinforcing the city's position as a secure and compliant international financial hub. The government also plans to bolster the renminbi-denominated gold and commodity markets, enhancing the nation's pricing power in these areas.

Chan outlined this in his weekly blog, emphasizing that Hong Kong's strategic role is crucial in advancing the country's five-year plan to become a financial powerhouse. He underscored Hong Kong's distinct contribution to the nation's goals, highlighting that the city's high-quality development presents a vital opportunity and source of confidence.

According to Chan, Hong Kong's first five-year plan is a response to an evolving global market, necessitating long-term certainty. He stressed that when businesses can anticipate Hong Kong's trajectory over the next five years, they can collaborate more effectively with the government, leveraging an active government alongside an efficient market to achieve desired outcomes.