China Travel & Tourism News
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HK banks ready to expand RMB business
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26-Jul-2005 - Xinhua |
Hong Kong's banks are well-prepared and have the strength to expand Renminbi (RMB) business, Hong Kong secretary for financial services and the treasury Frederick Ma said Tuesday. According to a government press release here, Ma, speaking at the Forum on the Development of Pan-Pearl River Delta Capital Markets in Chengdu, said that RMB deposits have grown to 20 billion HK dollars (2.5 billion US dollars) since local banks were allowed to run RMB business in February last year. He added that Hong Kong, as a fund-raising platform for Chinese mainland enterprises, will help and encourage them to use the cityto access the international market. |
26-Jul-2005 - Xinhua |
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