Beijing and Hong Kong Agree to Promote Cross-Border Financing

The Chinese mainland’s top economic planner and Hong Kong’s de facto central bank signed a memorandum of understanding Wednesday on supporting cross-border financing by mainland enterprises and promoting the development of the Hong Kong bond market.

Cong Liang, deputy director of China’s National Development and Reform Commission (NDRC), and Eddie Yue, chief executive of the Hong Kong Monetary Authority (HKMA), signed the agreement at a Belt and Road forum in Beijing.