Hong Kong Special Administrative Region Government Officer: Outstanding performance of the Hong Kong bond market will help the Greater Bay Area Development

Xinhua News Agency, Hong Kong, September 23 (Reporter Wang Qian) The Hong Kong Special Administrative Region Government's Financial Affairs and Treasury Bureau and the Guangdong Provincial Development and Reform Commission jointly organized a discussion on the "Expand the Development of the Greater Bay Area for the Development of the Bonds of the Bonds of the offshore RMB bonds" meeting. Xu Zhengyu, director of the Financial Affairs and Treasury Bureau, said in his speech that the Hong Kong bond market performed well and will help the future development of the Greater Bay Area.

The symposium was held in the form of video, and the two sides conducted forward -looking exchanges on the experience of recent debt -issuing companies in Hong Kong, as well as the internationalization of the RMB and the development of the Greater Bay Area.

Xu Zhengyu said that the overall bond market in Hong Kong has always performed well. Taking the arrangement of Asian international bonds as an example, Hong Kong arranged more than US $ 200 billion in 2021, ranking first in the world and occupying 34%of the market share.

Xu Zhengyu introduced that the Shenzhen Municipal Government first came to Hong Kong to issue a debt of 5 billion yuan last year. This is the first time that the Mainland Municipal Government came to Hong Kong to issue bonds, bringing a new breakthrough to the market development of Hong Kong. In this regard, the Hong Kong Special Administrative Region Government launched supporting measures for support to exempt its profit tax on the interest paid by the Shenzhen Municipal Government's debt bill issued by the Shenzhen Municipal Government in Hong Kong and obtained its profits. Xu Zhengyu said that in order to facilitate the issuance of more provinces and cities in the Mainland to issue debts in Hong Kong, Hong Kong will consider expanding the above tax incentives to the debt bill issued by the people's governments of other Mainland provincial and municipalities in Hong Kong in the future.

[Editor in charge: Wu Yongling]

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