China will allocate more FOREX to assets in HK, PBOC chief says

China will significantly increase the proportion of the its foreign exchange reserves allocated to assets in Hong Kong, said People's Bank of China Governor Pan Gongsheng

Speaking at the Asian Financial Forum, Pan outlined four key priorities to support Hong Kong's role as an international financial center, including enhancing financial market connectivity between the mainland and Hong Kong. 

He also highlighted the importance of a thriving capital market for Hong Kong's financial ecosystem, with plans to collaborate on macroprudential and financial stability measures. The central bank aims to facilitate more high-quality companies listing and issuing bonds in Hong Kong while deepening financial cooperation in the Greater Bay Area.