Hong Kong
BIS and HKMA conclude green DLT project
HKMA says it is considering pilot issuance of tokenised green government bonds
HKMA says firms must report on national security law suspects
Financial regulators say firms must report on those arrested under anti-dissident law
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
PBoC widens offshore bond trading for Chinese investors
Large banks will be able to deal in foreign bonds via Hong Kong under new scheme
PBoC opens up wealth management to Hong Kong and Macau
China looks to shore up Hong Kong’s status as a financial centre amid concerns over security crackdown
HKMA says employees must be vaccinated or take regular test
Hong Kong financial regulators will all impose same regime, government official says
Book notes: Fintech regulation in China, by Robin Hui Huang
The book includes meticulous exploration of detailed regulations across the Chinese fintech sector, but risks missing some of the bigger picture due to China’s on/off oversight
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
HKMA to hold AML/CFT ‘lab sessions’ for firms
Hong Kong’s central bank wants firms to upgrade AML/CFT technology
The renminbi in focus: reserve managers see promise
Reserve managers see potential in the renminbi and expect the International Monetary Fund to increase its weighting at the next special drawing rights reassessment
The renminbi’s inclusion in the SDR adds impetus to its internationalisation
Bank of China (Hong Kong) highlights the importance of opening up the onshore renminbi (RMB) foreign exchange market and improving the development of offshore RMB FX markets
Five years of the renminbi in SDR and its adoption in central bank portfolios
Policy-makers discuss what has impacted the renminbi’s adoption as a global reserve asset over the past five years.
Hong Kong to study ‘e-HKD’ at retail level
Hong Kong will begin study on retail CBDCs and work with PBoC on e-CNY in the next year
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
The Belt and Road Initiative 2021 Survey – The impact of Covid‑19 on the BRI
The fourth annual Belt and Road Initiative survey reveals that the Covid‑19 pandemic has disrupted many projects despite China remaining committed to financing the initiative, which is expected to support future economic growth and environmental…
Benoît Cœuré on CBDCs, stablecoins and central bank fintech co-operation
BIS Innovation Hub chief voices concerns about the timing of stablecoin and CBDC roll-outs, fintech risks for supervisors and monetary policy, and details development plans for eight innovation locations
HKMA and BoJ launch new securities settlement framework
New “delivery versus payment link” aims to reduce settlement risk
Lifetime achievement: Charles Goodhart
The LSE and BoE veteran economist has his own ‘law’, and played a key role in the establishment of monetary policy in the UK, Hong Kong’s peg and the ‘New Zealand model’, which influenced a generation of central bankers
HKMA chief plays down threat to currency peg
Eddie Yue tells journalists forthcoming IPOs should alleviate pressure
BIS paper contrasts firm financing in US and Asia
Authors argue market segmentation drives different patterns of bond and loan financing
BIS and central banks partner to create CBDC ‘bridge’
Cross-border project will link up digital currencies of China, Hong Kong, Thailand and the UAE
HKMA defers trade facility repayments again
Loans may be extended further, HKMA says, as unemployment reaches 16-year high
HKMA and PBoC begin technical preparations for digital yuan pilot
HKMA CEO Yue says cross-border e-yuan will offer additional payment options to locals
MAS unveils yuan funding for banks in Singapore
New funding scheme of up to 25 billion yuan replaces overnight funding facility