FS says HK key to national financial goals

Financial Secretary Paul Chan declared on Sunday that Hong Kong would broaden its renminbi-denominated bond market, aiming to bolster the city's position as a secure, compliant offshore hub. In his weekly blog post, Chan also indicated the government's plans to develop renminbi-denominated gold and commodity markets, which would reinforce the nation's pricing strength in these sectors.

The five-year national plan calls for accelerating the creation of a financial powerhouse. Chan underscored Hong Kong's distinct and indispensable role in fulfilling the nation's requirements. "Leverage Hong Kong's strengths to serve the nation's needs — the country's high-quality development is Hong Kong's biggest opportunity and source of confidence," Chan wrote.

He added that Hong Kong's initial five-year plan responds to a rapidly evolving global landscape, as markets require extended-term certainty. Chan asserted that when enterprises can foresee Hong Kong's trajectory over the ensuing five years, they can collaborate more effectively with the government, harmonizing an active government with an efficient market to achieve outcomes.