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8 Departments: CN to Support Firms to Legally, Compliantly Finance in SG/ HK
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The People's Bank of China (PBOC) and 7 other departments jointly issued the Opinions on Financial Support for Accelerating the Construction of the New International Land-Sea Trade Corridor, proposing the exploration of the mutual market access between domestic and foreign financial markets. Banks that meet the conditions are supported to issue cross-border loans to ASEAN country enterprises or projects under regulatory compliance and macro-prudential frameworks. China should strengthen the developmental connection between provinces (regions & cities) along the route and the Guangdong-Hong Kong-Macao Greater Bay Area, supporting enterprises to legally and compliantly finance in Singapore and Hong Kong, so as to deepen the Qualified Foreign Limited Partner (QFLP) pilot program. AASTOCKS Financial News Website: www.aastocks.com |
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