Closer links with Mainland China
Trade links between Hong Kong and Mainland China will be further strengthened by a new Consultative Committee on Economic and Trade Co-operation.
The Committee will work with chambers of commerce, trade offices and other associations in both Hong Kong and Mainland China in order to prepare recommendations to the governments of both places on how to develop even closer economic co-operation.
Economy
3,000 projects for Invest Hong Kong
Invest Hong Kong (InvestHK), the government department which provides free advice and support to businesses wanting to set up or expand in Hong Kong, celebrated its 3,000th project in September.
Since its launch in 2000, InvestHK has helped businesses invest over HK$78 billion in the area. Companies supported
by InvestHK have created more than 33,950 jobs in Hong Kong in their first years of operation alone.
The 3,000th project supported by InvestHK is the ASB Biodiesel plant in Tseung Kwan O, which also marks Hong Kong’s first project with Bahrain.
Finance
Renminbi trading increases
Renminbi (RMB), the
currency of Mainland China, is now the
ninth most traded currency in the world, according
to a recent report from the Bank for International Settlements.
This was one of many developments discussed at the third meeting of the Hong Kong-London Forum, a private-sector led forum attended by senior representatives from ten banks: Barclays, Bank of China, China Construction Bank, Citi, Deutsche Bank, HSBC, Industrial and Commercial Bank of China, J.P. Morgan, Royal Bank of Scotland and Standard Chartered Bank.
The forum, which promotes co-operation on the development of international RMB business, meets alternately in Hong Kong and London.
The growth in RMB trading was further underlined by figures published by the Hong Kong Monetary Authority in September. The total remittance of the RMB for cross-border trade settlement amounted to RMB304.2 billion in August, compared with RMB285.4 billion in the previous month. RMB deposits in Hong Kong picked up by 2.1% to RMB709.5 billion at the end of August.
Trade links between Hong Kong and Mainland China will be further strengthened by a new Consultative Committee on Economic and Trade Co-operation.
The Committee will work with chambers of commerce, trade offices and other associations in both Hong Kong and Mainland China in order to prepare recommendations to the governments of both places on how to develop even closer economic co-operation.
Economy
3,000 projects for Invest Hong Kong
Invest Hong Kong (InvestHK), the government department which provides free advice and support to businesses wanting to set up or expand in Hong Kong, celebrated its 3,000th project in September.
Since its launch in 2000, InvestHK has helped businesses invest over HK$78 billion in the area. Companies supported
by InvestHK have created more than 33,950 jobs in Hong Kong in their first years of operation alone.
The 3,000th project supported by InvestHK is the ASB Biodiesel plant in Tseung Kwan O, which also marks Hong Kong’s first project with Bahrain.
Finance
Renminbi trading increases
Renminbi (RMB), the
currency of Mainland China, is now the
ninth most traded currency in the world, according
to a recent report from the Bank for International Settlements.
This was one of many developments discussed at the third meeting of the Hong Kong-London Forum, a private-sector led forum attended by senior representatives from ten banks: Barclays, Bank of China, China Construction Bank, Citi, Deutsche Bank, HSBC, Industrial and Commercial Bank of China, J.P. Morgan, Royal Bank of Scotland and Standard Chartered Bank.
The forum, which promotes co-operation on the development of international RMB business, meets alternately in Hong Kong and London.
The growth in RMB trading was further underlined by figures published by the Hong Kong Monetary Authority in September. The total remittance of the RMB for cross-border trade settlement amounted to RMB304.2 billion in August, compared with RMB285.4 billion in the previous month. RMB deposits in Hong Kong picked up by 2.1% to RMB709.5 billion at the end of August.
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