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.
