PBOC Increases Renminbi Business Funding Arrangement in Hong Kong to 500 Billion Yuan on July 7

According to Jin10, PBOC Governor Pan Gongsheng announced on July 7 that the People's Bank of China will support the Hong Kong Monetary Authority in increasing the renminbi business funding arrangement scale from 200 billion yuan to 500 billion yuan, with the usage period extended to no more than three years. The arrangement aims to provide Hong Kong commercial banks with stable and cost-effective medium to long-term renminbi funding sources.
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