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Package of measures unveiled to boost HK economy

08-18-2011 19:56 BJT

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Chinese Vice Premier Li Keqiang has wrapped-up his three-day visit to Hong Kong. During the visit, the Vice Premier visited administrative, financial and educational institutions, met with local people, and most importantly, unveiled a package of measures to boost Hong Kong's economy.

One of the world's most open, vibrant and competitive economies.

On his first visit to Hong Kong, Chinese Vice Premier Li Keqiang says Chinese mainland and Hong Kong have long benefited from their economic cooperation.

For the future, he announced a number of measures to boost Hong Kong's service sector and financial industry - two pillars of the regions' economy.

Li Keqiang, Chinese Vice Premier, said, "Expanding the service sector is important if we want to increase China's domestic demand, and guarantee the long-term stability of rapid economic development."

 

 

 

Chinese Vice Premier Li Keqiang has wrapped-up his three-day visit to Hong Kong. During the visit, the Vice Premier visited administrative, financial and educational institutions, met with local people, and most importantly, unveiled a package of measures to boost Hong Kong's economy.

The measures announced will also encourage Hong Kong companies to invest directly on the mainland using the renminbi, and allow qualified overseas institutional investors to buy up to 20 billion yuan's worth of mainland securities.

"We will support the growth of the renminbi market in Hong Kong, expand circulation channels between Hong Kong and the Mainland, and innovate and develop offshore renminbi financial products in Hong Kong." Li Keqiang said.

This will eventually facilitate mainland-based financial institutions issuing yuan-denominated bonds in Hong Kong.

Chinese Vice Premier Li Keqiang has wrapped-up his three-day visit to Hong Kong. During the visit, the Vice Premier visited administrative, financial and educational institutions, met with local people, and most importantly, unveiled a package of measures to boost Hong Kong's economy.

On Wednesday, the Vice Premier announced 20 billion yuan of such bonds.

Donald Tsang, Hong Kong SAR Chief Executive, said, "The measures announced by the Vice Premier cover trade, finance, people's livelihood, social welfare, and tourism which will benefit Hong Kong society. The measures will enhance the cooperation between Hong Kong and the mainland and will also help push the development of our country."

At the end of his visit, Li Keqiang went to the University of Hong Kong where he attended a celebration marking the 100th anniversary of the founding of the institution.

Editor:Zheng Limin |Source: CNTV.CN

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