HKMA and NDRC collaborate in seminar to promote cross-border financing for Chinese enterprises in Hong Kong

According to the Hong Kong Monetary Authority, the Foreign Capital and Overseas Investment Department of the National Development and Reform Commission (NDRC) and the Hong Kong Monetary Authority (HKMA) will jointly hold a seminar in Hong Kong on 24 September 2024, focusing on “Supporting Cross-border Financing of Chinese Enterprises in Hong Kong”.

Key figures and participants

Zheng Chiping, Director of the Foreign Capital and Overseas Investment Bureau of the NDRC, attended the seminar and delivered a keynote speech. The event was also attended by Eddie Yue, Chief Executive Officer of the Hong Kong Monetary Authority (HKMA). The seminar was attended by about 200 people, including representatives of mainland Chinese enterprises, industry associations, financial institutions and law firms.

Focus on issuing overseas bonds

The seminar included policy briefing sessions and roundtable discussions. The NDRC delegation provided insights on supporting overseas debt issuance by Chinese mainland enterprises. The event is the first promotional activity under the Memorandum of Understanding (MoU) signed between the NDRC and the HKMA in October 2023, aimed at promoting the diversified development of the overseas bond market and enhancing understanding of relevant policies among market participants.

Strengthening cross-border financing

Hong Kong has long been the best offshore financing platform for mainland Chinese enterprises. Mr. Zheng emphasized the importance of leveraging Hong Kong’s international financial platform to conduct cross-border financing activities, expand financing channels, and optimize financing structures. He emphasized the NDRC’s willingness to encourage mainland Chinese enterprises to utilize Hong Kong’s platform for their financing needs and welcome global investors and market institutions to actively participate in this initiative.

Industry acceptance and future collaboration

Mr. Wei expressed gratitude to the NDRC for recognizing Hong Kong’s role as a cross-border financial hub, and thanked Mr. Zheng for his leadership in organizing the policy briefing. He said the seminar was well received by the industry and deepened the understanding of central government policies, which are important for supporting cross-border financial activities of mainland enterprises and contributing to the internationalization of the RMB and the green and low-carbon transformation of the region.

Going forward, both the HKMA and the NDRC are looking forward to building on this successful foundation and deepening cooperation. The HKMA is committed to fostering Hong Kong’s financial services sector to support the Mainland’s high-quality economic development and high-level opening-up.

For further details, please contact the Hong Kong Monetary Authority.

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