Visiting Vice-Premier Li KeQiang announced a package for more than
30 measures to boost the local economy by strengthening Hong Kong’s
role in the internationalization of the Yuan.
One of the key measures is to support the stock market by allowing
mainland investors to invest in Hong Kong stocks by launching the
index-tracking Exchange Traded Fund backed by a portfolio of Hong Kong
Andrew Fung, the head of treasury and investment at HS Bank,
quoted by SCMP, said: ‘China is speeding up its pace of
internationalizing the currency by these new measures.’
Johnny Lau, the current affairs commentator familiar with China
politics, said Beijing is of the view that if economic issues are not
handled properly, they would escalate into political problems.