Shenzhen-Hong Kong Stock Connect and the HKMA's Vision for the Greater Bay Area
Shenzhen-Hong Kong Stock Connect and Greater Bay Area Development
The Hong Kong Monetary Authority (HKMA), under the leadership of CEO Eddie Yue Wai-man, is focusing on the development of the Greater Bay Area and the expansion of cross-border trading schemes. These initiatives aim to strengthen Hong Kong's position as a leading financial center.
The Impact of the COVID-19 Pandemic
Yue acknowledged that the COVID-19 pandemic had a significant impact on progress. He is eager to promote cross-border fund flows to facilitate daily expenses for Hong Kong residents living in Guangdong province.
- Aiming for easier monetary transfer for salaries and expenses.
- Enhancing connectivity to support property purchases.
Connecting Through Schemes
Established connect schemes like the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect allow seamless trading. Yue stresses widening, rather than adding, existing schemes to promote liquidity.
Future Prospects
During his second term, Yue is set to further promote financial technologies and green finance while navigating through potential challenges posed by interest rate fluctuations and global geopolitical tensions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.