Policy Address

45.         To complement the Belt and Road Initiative, Hong Kong will continue to promote the offshore RMB business.  We will further upgrade and bring into full play our functions and services as a global hub for offshore RMB business.  For example, we will strengthen market infrastructure and financial platforms, enhance RMB business links with countries along the routes, and promote RMB business between Hong Kong banks and international financial institutions and enterprises.  We will step up efforts to stage roadshows abroad to encourage overseas financial institutions and enterprises to conduct transactions on our RMB financial platform. 

46.         As a centre for international asset management, risk management and multinational corporate treasury services, Hong Kong is well-positioned to capture the wealth of the Belt and Road and meet the demand for risk management services.  The implementation of the Mainland-Hong Kong Mutual Recognition of Funds in July 2015 has further promoted the mutual access of the Hong Kong and the Mainland capital markets, enabling both places to enhance competitiveness and influence in the international asset management arena.  Hong Kong boasts a number of large-scale major insurance companies and international reinsurance companies, talented professional teams, well-developed laws and regulations, as well as rich experience and knowledge of insuring major infrastructure (e.g.  airports and express rail links).  We can therefore provide professional insurance and reinsurance services for major Belt and Road infrastructure.  Furthermore, as more and more Mainland enterprises seek to “go global” under the Belt and Road Initiative, Hong Kong will continue to encourage Mainland enterprises to establish captive insurance companies in Hong Kong, make insurance arrangements and enhance risk management for their overseas businesses expanded under the Belt and Road Initiative.

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