Business
China’s NDRC Encourages Mainland Firms to Utilize Hong Kong for Cross-Border Financing: An Approach to Foster Global Expansion and Foreign Investment
China's National Development and Reform Commission (NDRC) is encouraging companies to utilize Hong Kong as a source of funding for domestic and international projects. According to an official from the NDRC, Hong Kong is viewed as a leading financial hub for mainland China's strategy to draw foreign investment and expand globally.
China's leading economic strategist is advocating for more domestic firms to utilize Hong Kong's global financial stage for transnational financing operations, which could fund local projects or international expansions.
The premier offshore yuan hub, which is also Asia's main financial center, can assist onshore firms in expanding their financing routes and improving their financial frameworks, says a high-ranking representative from the National Development and Reform Commission (NDRC).
"Hong Kong not only acts as the pivotal link between the mainland and global capital markets, but also stands as the top-tier stage for the mainland's 'foreign investment attraction' and 'global expansion' approach," stated Zheng Chiping, the Director General of the Department of Foreign Capital and Overseas Investment.
China praises Hong Kong's initiatives in assisting mainland businesses to generate funds via bond sales, aiming to collaboratively cultivate a more accessible, clear, and effective financing atmosphere, he further stated.
Zheng stated that the NDRC is also in favor of "active involvement" from international investors to establish "shared advantages" with domestic companies.
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