The Banking Association welcomes the new policies for financial cooperation between Mainland China and Hong Kong.

The Hong Kong Association of Banks welcomes a series of new policies announced by the People's Bank of China, the Hong Kong Monetary Authority, and the Securities and Futures Commission of Hong Kong to strengthen financial cooperation between the mainland and Hong Kong. The previous cooperation between the mainland and Hong Kong financial markets has yielded fruitful results, and the various optimization and expansion arrangements introduced this time will further consolidate the foundation of cooperation and deepen the connectivity between the mainland and Hong Kong financial markets.

In terms of promoting the construction of the offshore renminbi market, the relevant measures will help further enhance Hong Kong's radiating role and improve its ability to serve the real economy. The Hong Kong Association of Banks will fully cooperate with the banking industry in Hong Kong to implement the new policies, maintain communication with financial regulatory authorities, and ensure the smooth implementation of various measures.

In addition, the Hong Kong Gold Central Clearing and Settlement System commenced trial operations today, along with a series of supporting measures to promote the development of the gold market. This move reflects Hong Kong's significant progress as an international financial center in commodity financial infrastructure, marking a key step in Hong Kong's efforts to build an international gold trading center. The banking industry will actively seize new opportunities, promote innovative development of gold-related products and services in areas such as wealth management, institutional investment, and risk management, thereby driving new growth momentum for the financial industry and fostering the healthy development of Hong Kong's gold market.