HKEX EXEC: RMB market and product ecosystem to expand further
CGTN Anchor Guan Xin spoke with Wilfred YIU, Co-Chief Operating Officer of Hong Kong Exchanges and Clearing. He said participants seemed more cautious this year due to challenging global conditions like high inflation and interest rates. However, China's recovery from COVID-19 and strong economic data are encouraging signs. Innovation and entrepreneurship, the themes of this year's forum, will drive future growth. The capital market is supporting innovation, especially for SMEs, in sectors like biotech, AI, and cloud computing. The Dual Counter Model, which allows the trading of Hong Kong stocks in both HKD and RMB, helps meet growing demand for RMB. He expects the RMB market and product ecosystem to expand further.