15 February 2019

PBoC steps up review of dim sum bond applications, HKEJ says

The People’s Bank of China (PBoC) has accelerated the review of applications for issuance of offshore yuan debt or “dim sum bonds” in Hong Kong, the Hong Kong Economic Journal reported Friday, citing Norman Chan, chief executive of the Hong Kong Monetary Authority (HKMA). A Hong Kong banking delegation led by Chan proposed during their visit to Beijing to expand the city’s renminbi business. In addition, the PBoC said it will “actively consider” the delegation’s proposal of raising the 20,000 yuan (US$3,279.75) daily limit for Hong Kong residents to exchange for the Chinese currency, according to Chan.

– Contact HKEJ at [email protected]



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