Business Brief (July 8): Asia Stocks Decline
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PBOC to deepen Hong Kong’s bond, offshore yuan markets
People’s Bank of China Governor Pan Gongsheng expressed support for more high-quality enterprises to list and issue bonds in Hong Kong. He said the central bank would continue to optimize and expand connectivity between the Chinese mainland and Hong Kong in areas such as stocks, bonds, wealth management and interest rate swaps. The annual net investment quota for the Southbound Bond Connect program is set to rise to 800 billion yuan ($118 billion) from 500 billion yuan.
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