Hong Kong officials Hong Kong and Shanghai to promote the internationalization of the RMB to play a role in twin-engine

 BEIJING, Jan. 16
Xinhua News Agency reported, according to Hong Kong, Hong Kong Financial Services and the Treasury, Professor KC Chan, 15, said the introduction of foreign direct investment in China RMB pilot management practices, the development of the renminbi in Hong Kong market is extremely favorable.

he attended a radio program, pointed out that to promote the internationalization of the RMB, there must be the offshore market and the local market, while Hong Kong and Shanghai respectively play the two roles. In his view, a clear division of the two cities can play a role in twin-engine, on very favorable financial and economic national development.

KC Chan, and said that with the increased circulation of RMB in overseas in overseas markets, the yuan needs to offshore trading, lending, investment, Hong Kong has a mature market and good as the renminbi settlement system, the yuan will be some overseas deposited in Hong Kong.

He pointed out that the new measures, expected to continue rising renminbi deposits in Hong Kong, enabling enterprises to use local currency funding pool of loans, will help enhance Hong Kong's financial market activities.



He disclosed that next week in the Asian Financial Forum held in Hong Kong, will discuss the internationalization of the RMB, and Asia in the management of opportunities and challenges, will help Hong Kong to make a clear positioning.