According to the latest policy address, Hong Kong government will further promote interconnection with mainland financial market, develop offshore RMB business and enhance the function as an international asset management centre.

Five economic development highlights:
Support the HKEX to further improve the listing mechanism and establish a listing system for special-purpose acquisition companies in Hong Kong.
Expand the two-way flow channel of cross-border RMB funds and develop offshore RMB products and tools.
Consider providing tax concessions to attract family offices to open in Hong Kong, thereby enhancing Hong Kong's status as an international asset and wealth management centre.
Promote cooperation between the HKEX and Guangzhou Futures Exchange on financial products related to carbon emission trading, and study the feasibility of developing Hong Kong into a regional green and sustainable financial hub.
Develop cross-border financial technologies and explore with the Mainland the formation of a one-stop sandbox network, which will facilitate the testing of cross-border Fintech application projects by financial institutions and technology companies in Guangdong, Hong Kong and Macao.
In addition, the government will make good use of data to promote economic development. For example, the Commercial Data Interchange (currently in the process of development by the HKMA) can unify the docking of banks, allowing enterprises to authorize payment systems, public institutions and public utilities to provide data to banks, so that banks can predict the sales and operation of enterprises more accurately, thereby reducing the need for enterprises to provide collateral.
These policies are all conducive to the economic development of Hong Kong and the promotion of its status as an international financial centre. If they can be implemented smoothly, it will once again enhance investors' confidence in Hong Kong's economy.
Source:
2021 Hong Kong Policy Address
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