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The following is issued on behalf of the Hong Kong Monetary Authority:
The Treasury Markets Association (TMA) conducted the Treasury Markets Forum in Shenzhen today (March 21) for regulators and market participants from Shenzhen and Hong Kong to discuss the latest development of cross-border renminbi business and the financial policies concerning Qianhai.
More than 60 participants from the two cities were invited to attend the Treasury Markets Forum. The Chairman of the TMA Executive Board and Deputy Chief Executive of the Hong Kong Monetary Authority, Mr Peter Pang, shared his insights into the development of renminbi and asset management businesses at the Forum. Furthermore, the Vice President of the People's Bank of China Shenzhen Central Sub-branch, Ms Cui Yu, and Liaison Director of the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, Mr Wang Jinxia, expounded respectively on the two-way cross-border lending arrangement and the financial policies concerning Qianhai. Banking and financial sector representatives from Hong Kong also exchanged views on these subjects with their counterparts and regulators from the Mainland, including the Director of the People's Government of Shenzhen Municipality Financial Development Service Office, Mr Xiao Yafei. Discussions were lively and participants shared their ideas enthusiastically. They were particularly interested in the arrangements concerning cross-border lending and asset management business.
This is the second Treasury Markets Forum organised by the TMA in Shenzhen. The first one was held in July last year for the Hong Kong treasury industry to discuss the prospects and opportunities arising from Shenzhen and Hong Kong's financial co-operation and Qianhai's pioneering pilot policies with officials of the relevant authorities and banking industry representatives from the Mainland. As the last Forum was very effective in promoting the sharing and exchange of ideas between Hong Kong and Shenzhen, the TMA continued its effort this year in creating a platform for the discussion of subjects of common interest by organising the second Treasury Markets Forum.
Mr Pang said, "The TMA will continue to assist the treasury industry in exploring market-development opportunities in respect of cross-border renminbi and asset management businesses. The Association is glad to contribute to the development of financial markets in Hong Kong and Shenzhen by facilitating discussion and exchange of ideas between the two cities."
Ends/Thursday, March 21, 2013
Issued at HKT 20:03
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