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Shanghai, HK joining force to internationalize yuan
By Feng Jianmin |
December 13, 2012, Thursday
|
Online Edition
Online Edition
Shanghai will step up cooperation with Hong Kong as the city strives to further open up and strengthen financial competitiveness, Shanghai vice mayor said yesterday.
"As Hong Kong plays an increasingly prominent role in offshore yuan market, Shanghai has huge room to work with Hong Kong in driving the yuan's internationalization," said vice mayor Tu Guangshao yesterday during a meeting with Hong Kong financial leaders.
He said Shanghai and Hong Kong have being cooperating in shipping, education, tourism, medicine and cultural exchange. Shanghai needs to learn from Hong Kong's experience as it tries to liberalize the market, improve financial environment and build up the city's "soft power" as an international financial center.
Hong Kong Monetary Authority chief executive Norman Chan and Hong Kong Association of Banks chairperson Anita Fung said they hope the two sides will deepen collaboration in terms of yuan internationalization and commodity trading.
Both Tu and Hong Kong guests spoke highly of the achievements made through cooperation between the two cities.
"As Hong Kong plays an increasingly prominent role in offshore yuan market, Shanghai has huge room to work with Hong Kong in driving the yuan's internationalization," said vice mayor Tu Guangshao yesterday during a meeting with Hong Kong financial leaders.
He said Shanghai and Hong Kong have being cooperating in shipping, education, tourism, medicine and cultural exchange. Shanghai needs to learn from Hong Kong's experience as it tries to liberalize the market, improve financial environment and build up the city's "soft power" as an international financial center.
Hong Kong Monetary Authority chief executive Norman Chan and Hong Kong Association of Banks chairperson Anita Fung said they hope the two sides will deepen collaboration in terms of yuan internationalization and commodity trading.
Both Tu and Hong Kong guests spoke highly of the achievements made through cooperation between the two cities.
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