Tag: Renminbi

HKMA participates in BIS Renminbi Liquidity Arrangement ******************************************************* The following is issued on behalf of the Hong Kong Monetary Authority:      The Bank for International Settlements (BIS) announced today (June 25) (Note 1) the Renminbi Liquidity Arrangement (RMBLA), which has been developed with the People’s Bank of China (PBoC), to provide liquidity to central banks through a new reserve pooling scheme.             The Hong Kong Monetary Authority (HKMA) is pleased to join the initial group of central banks in Asia and the Pacific participating in the arrangement (Note 2), which will complement existing BIS liquidity facilities in providing additional liquidity ... Read more

LCQ17: Remitting Renminbi to the Mainland *****************************************      Following is a question by the Hon Priscilla Leung and a written reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (June 16):   Question:        In recent months, a number of Hong Kong people who have purchased properties in the Mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area (Greater Bay Area) have sought my assistance. Earlier on, as they had planned to pay for the properties via the Mainland bank accounts under their names, they entrusted money changers to remit ... Read more