PBOC's Pan said on July 7 at the Hong Kong Fixed Income and Currency Summit and Bond Connect Forum that the PBOC and HKMA previously established an RMB 800 bln standing swap and set an RMB 200 bln RMB business funding arrangement to supply Hong Kong banks with stable, lower‑cost medium‑to‑long‑term RMB liquidity. He said he will support the HKMA in expanding that funding arrangement to RMB 500 bln and extending its usable tenor to up to three years. Pan also said authorities will continue to ref

PBOC's Pan said on July 7 at the Hong Kong Fixed Income and Currency Summit and Bond Connect Forum that the PBOC and HKMA previously established an RMB 800 bln standing swap and set an RMB 200 bln RMB business funding arrangement to supply Hong Kong banks with stable, lower‑cost medium‑to‑long‑term RMB liquidity. He said he will support the HKMA in expanding that funding arrangement to RMB 500 bln and extending its usable tenor to up to three years. Pan also said authorities will continue to refine cross‑border RMB settlement measures, deepen mainland–Hong Kong fast payment system interconnection, and maintain routine issuance of PBOC bills in Hong Kong.