NDRC promoting closer economic ties with Hong Kong
Arrangement will support qualified Chinese-funded institutions to issue debts and raise funds for OBOR-related green projects
The National Development and Reform Commission has signed a Closer Economic Partnership Arrangement with the Hong Kong government, covering finance and investment, infrastructure and shipping services, economic and trade as well as the construction of the Greater Bay Area, Yicai.com reported.
Investment and financing parties, as well as project operators, are being encouraged to use Hong Kong as a platform, to provide funds and diversified financing channels for the “One Belt and One Road” initiative, including public fundraising, syndicated loans, private equity funds and bonds financing.
The arrangement will support qualified Chinese-funded institutions to issue debts and raise funds for OBOR-related green projects in Hong Kong.
Meanwhile, both mainland and OBOR enterprises are encouraged to set up regional headquarters in Hong Kong as required, using it as a frontier platform for entering relevant countries and regions.
The arrangement also aims to improve RMB cross-border two-way flow between the mainland and Hong Kong and encourage use of the Cross-border Interbank Payment System.