China unveils financial policies for Hong Kong: report
2012-06-27 10:45:39
China seeks to promote the offshore yuan market in Hong Kong and improve overseas investment as part of a package announced to boost economic relations, the official Xinhua News Agency reported Wednesday.
China will encourage Shanghai, Shenzhen and Hong Kong stock exchanges to establish a joint venture and will allow the listing of cross-market exchange traded funds in the mainland.
Foreign investors will also be encouraged to use the yuan in trade settlement and investments in Hong Kong, the agency said citing a statement from the State Council.
Other policies consist of improving the variety of offshore yuan-based services in Hong Kong and facilitating long-term investment from Hong Kong in the mainland's capital market.