HKMA and PBoC discuss ‘enhancements’ to swap line
New five-year plan cements city’s lead role in currency’s internationalisation efforts
The Hong Kong Monetary Authority (HKMA) is “exploring enhancements” to its 800 billion yuan ($119 billion) swap line with the People’s Bank of China, the city’s top official said on September 17, while reaffirming the de facto central bank’s leading role in renminbi internationalisation efforts for the next five years.
John Lee, chief executive of the Hong Kong Special Administrative Region, said the enhancements would be to “strengthen offshore renminbi market liquidity and consolidate Hong Kong
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