On July 10, BANK OF CHINA (ASX: 03988) Chairman Ge Haijiao met with Deputy Chief Executive of the Hong Kong Monetary Authority (HKMA), Mr. Yuen Kwok-hung, for a working discussion at the BOC headquarters building. Also in attendance were BOC Deputy President Cai Zhao and HKMA Assistant Chief Executive Julia Chu.
BANK OF CHINA Chairman Ge Haijiao stated that the "15th Five-Year Plan" outlines a dedicated chapter for "promoting the long-term prosperity and stability of Hong Kong and Macao," detailing a series of important measures to support the two regions in consolidating and enhancing their competitive advantages and better integrating into and serving the nation's overall development. Hong Kong is a top priority in BOC's global strategic layout. With the guidance and support of the HKMA, BOC has consistently played a pivotal role, fully supporting the Hong Kong Special Administrative Region Government's initiatives, continuously improving the comprehensive service capabilities of its institutions in Hong Kong, and vigorously promoting the transformation of Hong Kong's unique advantages into drivers for development. BOC will continue to implement the HKMA's various requirements, further enhance regional coordination effectiveness, comprehensively support the international use of the Renminbi, earnestly fulfill its duties as the chairing bank of the Hong Kong Association of Banks, and make greater contributions to consolidating and elevating Hong Kong's status as an international financial center and promoting the stable development of Hong Kong's financial sector.
HKMA Deputy Chief Executive Yuen Kwok-hung expressed that the HKMA welcomes BOC's continued active contributions to Hong Kong's economic and social development. He noted that Hong Kong has been fully focused on boosting the economy, pursuing development, and benefiting the people's livelihood in recent years. The HKMA will maintain close communication with the banking sector to jointly strengthen financial technology innovation under the principle of prudent risk management, thereby consolidating and enhancing Hong Kong's status as an international financial center. He looks forward to BOC leveraging its globalized strengths and comprehensive capabilities to support the development of Hong Kong as an offshore Renminbi business hub, assist mainland enterprises in expanding globally through Hong Kong, and inject more momentum into exploring new economic growth points for Hong Kong.
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