Financial Secretary John Tsang today welcomed the lifting of the daily cap on renminbi conversion for Hong Kong residents, which he believes will facilitate the development of more RMB investment and wealth management products.
"It will add further to our unparalleled edge as the world's premium offshore RMB hub and help propel the development of our offshore renminbi business to new heights," he said.
He thanked the Central Government for supporting Hong Kong.
He said the city will continue to contribute to the Mainland's economic and financial reform by serving as both the laboratory for new reform measures and the firewall for shielding the nation's financial market from volatility in the international arena.
