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Treasury markets summit held in HK

September 15, 2014
Global hub

Global hub:  Monetary Authority Chief Executive Norman Chan addresses a treasury markets conference on September 15.

More than 350 finance professionals attended an annual treasury markets summit in Hong Kong.

 

Addressing the conference today, Monetary Authority Chief Executive Norman Chan noted the rapid progress that has been made in developing Hong Kong into a global offshore renminbi business centre over the last five years.  

 

To prepare for the launch of the Shanghai-Hong Kong Stock Connect, Mr Chan also announced the setting up of a RMB10 billion intra-day repurchase facility; and the designation of a number of banks as primary liquidity providers for the offshore renminbi market in Hong Kong.

 

Mr Chan concluded that Hong Kong was in a unique position to take advantage of, and play a key role in the new era of renminbi internationalisation, and encouraged Hong Kong's financial industry to seize the opportunity and develop products that would best serve clients' needs.

 

The Monetary Authority and Treasury Markets Association organised the summit, which attracted representatives from regulatory authorities, treasury markets practitioners, and senior executives and professionals from banks and other financial institutions.



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