Hong KongJune 2012 | Ratings Update
Beijing recently announced a slew of policies to aid economic and cultural ties between Hong Kong and the mainland. Among the policies include measures to boost the use of the Chinese yuan in the settlement of cross-border trade and investment settlement. Additionally, plans to widen the variety of yuan-denominated services appear to be in order. Aside from financial policies, the policy package also sees a liberalisation of cross-border trade and investment, as well as foster cooperation in the tourism and education sectors. We believe that these moves were announced in a bid to mitigate Hong Kong citizens' displeasure towards the both governments in the city and Beijing, and ease Leung Chun-ying's transition as Hong Kong's new Chief Executive.
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