Hong Kong's' New Capital Investment Entrant Scheme 'has received over 700 applications

2024-12-06

On the 5th, Chen Haolian, Deputy Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government, stated that as of the end of November this year, the "New Capital Investment Entrant Scheme" that began accepting applications in March has received over 700 applications and is expected to bring more than HKD 21 billion in investment to Hong Kong. Chen Haolian mentioned at the Legislative Council meeting that as of October, there were over 1100 fintech companies in Hong Kong, with an annual growth rate of about 15%; In terms of green finance, the total amount of green and sustainable bonds issued in Hong Kong over the past few years ranks first in the Asian market, accounting for 37% of the regional total last year. He said that the SAR government is constantly strengthening its ties with the the Belt and Road economies, actively seeking new sources of investment and capital, including promoting the listing of exchange traded funds in Hong Kong and Saudi Arabia, and promoting two-way financing. Chen Haolian also mentioned that the SAR government will establish a working group within this month to promote the establishment of an international gold trading center, including strengthening trading mechanisms and related regulatory frameworks, promoting the application of cutting-edge financial technology, and exploring with the mainland to include gold products in interconnectivity. The SAR government will accelerate the consolidation of Hong Kong's leading position in the international sustainable finance field, including launching a roadmap for the full adoption of the International Financial Reporting Sustainability Disclosure Standards (ISSB Standards) within this year. Continue to actively research and promote the expansion of interconnectivity with mainland regulatory agencies, enhance the investment function of offshore RMB, including including incorporating RMB stock trading counters into the Hong Kong Stock Connect and promoting bulk trading into the interconnectivity mechanism, to promote the internationalization of RMB Chen Haolian said. (New Society)

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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